Best Credit Card?

[Speaks]

Man, I have to ask.
As someone that tries to never use credit cards. Why not pay yourself back?
I just feel like its a scam to use a CC for cash back or frequent miles whatever they are offering.
I will use the zero percent financing and pay it off in time.
Why not toss a hundred or two in some sort of high earning savings account?
Open an IRA?
Too many better options than making payments for "cashback".
Just my opinion here.

If you pay off balance in full every month you get the cash back and dont pay any interest.

Aside from my personal spending I put all my business travel expenses on a personal card and get reimbursed so I make sure I get the points / chash back. Its something like $100k a year in expenses so whatever rewards I get are more or less free money. I also have so many airline miles banked that my wife and I could fund 3 pairs of round trip tickets to Europe first class.

 

[SWFLhntr]

Love the Delta Platinum Amex. Gives me a reason to go travel and hunt. I get 2 bags free, guns travel free, companion ticket pays for the fee basically. Makes me not have the urge to fly Spirit
Also have the Costco Citibank. Get $1,000/year back for doing nothing.

Used CC’s to rotate through ~$18k in CC debt after the 2008 financial crash. Would do balance transfers for a couple percent and then got a couple years with no interest on that balance. Saved a fortune and wife and I ended up woth 850 credit scores 6 years later lol.

 

[sreyemj]

never had any issues with my citi double cash. effectively 2% cash back. i pay all my bills with it and pay it off each friday, just to rack up the rewards cash.

Same.

 

[Roosterstraw]

The US smartly visa is 4% if you have 100k in their savings account.


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Do you get interest on the 100k? If not that’s a terrible deal. You could put the 100k in a money market account or HYSA and make 4.2%. Then get a CC that gives you 2% cash back.

 

[dirtytough]

The US smartly visa is 4% if you have 100k in their savings account.


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It doesn’t have to be in their savings account. You get it if you have $100k in their brokerage account also.

Do you get interest on the 100k? If not that’s a terrible deal. You could put the 100k in a money market account or HYSA and make 4.2%. Then get a CC that gives you 2% cash back.

See above.

 

[SloppyJ]

It doesn’t have to be in their savings account. You get it if you have $100k in their brokerage account also.

See above.

Solid deal. Thank you for sharing. Need to check into their investment accounts now.

 

[eddielasvegas]

I have been using a Wells Fargo Active Cash Visa for about 3 years and love it due to its simlple cash back rule. I charged everything, and I mean everything, if the amount is over a $1 and they take Visa. I never carry a balance.

The cash back promotion is simple: 2% cash back accross the board. Last year I earned over $1,000 in CB. Don't usually earn that much back but last year had some unusual charges of about $15-20k that will not repreat.

The US Bank Smartly Savings account currently pays ~3.5% APY on the $100k in case anyone is wondering.

That card/account has potential IMO and I'll look into this year at some point.


Eddie

 

[displacedtexan]

So I'm gonna go against the grain here and piss on the parade a bit....
NOTHING is free...All you guys going on about points and earn back must have never owned/run a small business and see how much those fees cost merchants every month.
No business "absorbs" those processing fees just for you to have the convenience of swiping a card instead of bringing cash or a check. They ALWAYS get passed back to the consumer in the form of higher prices or more recently an upfront charge of an additional 3-5% to use a credit card.
Get used to that up front charge for not carrying cash, its gaining more and more traction. We are contemplating taking that route with our business...We pay tens of thousands a year just for people's convenience of swiping a card...like every business expense, that factors into what we charge.
Long of it short, you feel like your getting rewards and 'Cash back'....but your really just paying for it yourself through inflating costs of goods and services your buying with that card, you just dont see it to know that so you think your getting something for "free"....just something to think on.
That being said, I have multiple cards but use them as sparingly as possible and certain occasions like when the cash option isn't available such as online shopping, or when out of town and don't want to carry much cash.

Credit cards are the devil...but unfortunately a necessary evil in what our society/economy has become

I ain't walking myself into the station to buy fuel.

 

[StuckInTheEast]

I ain't walking myself into the station to buy fuel.

I don't either...Like I said...there are exceptions where using a card is just the only practical option, I mainly try to use cash or check when possible especially when dealing with smaller local businesses. I use my cards and my rewards. I just think the whole system way over inflated and ultimately just driving the cost of goods/services up unnecessarily...Dont even get me started on the ponzi scheme of credit card processing companies
But it's what we chose as a society at large so swipe away, don't have much choice in many situations like these self check outs everywhere. God knows the cash processors on those things hardly ever work right and anyplace with them has obviously factored processing fees into their costs or offset them by reducing staff.

I guess I'm just old, tired and mad I didn't start a credit card company so I could just sit back in my ivory tower, or a my private mountain side for that matter, and watch the world swipe away while my millions just rolled in without hardly lifting a finger.

 

[Fireflyfishing]

I have a Scheels card. I spend most of my slush fund money there anyways. Basically get store credit back.

This is what I have as well. It’s the best sporting goods store in town. Cabela’s sucks nowadays

 

[Rotnguns]

Man, I have to ask.
As someone that tries to never use credit cards. Why not pay yourself back?
I just feel like its a scam to use a CC for cash back or frequent miles whatever they are offering.
I will use the zero percent financing and pay it off in time.
Why not toss a hundred or two in some sort of high earning savings account?
Open an IRA?
Too many better options than making payments for "cashback".
Just my opinion here.

We have a Capitol One and Chase Sapphire cards with 2% cash back and pay them off every month - we still accumulate lots of rewards money. I like to use the Cap One card for almost everything so I can track expenses.

 

[Rotnguns]

This is what I have as well. It’s the best sporting goods store in town. Cabela’s sucks nowadays

We have a Cabelas card as well; it's also related to Cap One and they share the same billing website. Scheels recently opened a giant store in Meridian Idaho and while they are the most modern, I gotta say that the local Cabelas and two Sportsman Warehouse stores have stepped their games up and all four are pretty good.

 

[Fireflyfishing]

We have a Cabelas card as well; it's also related to Cap One and they share the same billing website. Scheels recently opened a giant store in Meridian Idaho and while they are the most modern, I gotta say that the local Cabelas and two Sportsman Warehouse stores have stepped their games up and all four are pretty good.

I’ve been to that one. It’s big! Ours is much smaller but pretty awesome for the size. Plus, I can order stuff to the store or they usually have free shipping.

 

[Marbles]

It depends on what you are looking for. I have personally found rotating categories with cash back to not be worth it and like a flat rate, at that 2% is doing well.

My current fee card is the Capital One Venter X, but that is a travel card, not cash back. As a travel card, the benefits are well worth the cost, but if you don't use them, then it is rather expensive.

 

[Davyalabama]

We run three, an Am$%^& (wife loves this, not having to go to a store), a Fidelity (personal), and a Chase Mariott for our LLC group.

 

[pacoalcracker]

You may not pay interest and get a few bucks back, but I guarantee you most if not all of you are spending money you wouldn't otherwise to garnish those peanuts. It encourages spending. Why do you think those programs exists? You think you are smarter than the CEO's getting 50 million/yr? I think not.

 

[Danny Hoey]

I don't think it's been mentioned, but we have a DIscover card. 5% back on certain categories every quarter and 1% back on everything else. I could guess we get $500 or so each year

 

[CorbLand]

You may not pay interest and get a few bucks back, but I guarantee you most if not all of you are spending money you wouldn't otherwise to garnish those peanuts. It encourages spending. Why do you think those programs exists? You think you are smarter than the CEO's getting 50 million/yr? I think not.

What are we betting? I like making easy money.

Smarter than a CEO? Nope. Smart enough to know how to play a game that leads to putting money back in my pocket for doing nothing? Absolutely.

 

[Dos Perros]

Most people commenting aren't "making payments". They're charging things they'd normally buy on the credit card to get rewards (cash back, miles, hotel points, etc). It isn't costing them anything if they're paying it off at the end of each month (unless the card has an annual fee). No different than paying with cash, check, or debit card, you just get rewarded for it. Now, if people are rolling balances and paying interest, that's not a winning situation....usually.

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This is only half true. The credit card enables spending that you wouldn't spend if you were paying cash. So instead of spending $1000 every month on the card and paying it off every month, spend $600 in cash and save the $400.

 

[CorbLand]

This is only half true. The credit card enables spending that you wouldn't spend if you were paying cash. So instead of spending $1000 every month on the card and paying it off every month, spend $600 in cash and save the $400.

What does a credit card allow me to buy that I wouldn’t other wise be able to purchase with other means?