Taking Advantage of Cash Reward Credit Cards
Guest: tucker12
Post subject: Taking Advantage of Cash Reward Credit Cards
Posted: Fri Feb 24, 2006 4:39 pm
Hi!
I've been browsing this website for several months and have learned so much through this forum! I am hoping that with all of your combined experience, I will get some great advice.
I definatly want to start taking advantage of all that these cards have to offer. I understand that using these cards to their full potential requires great credit and discipline, as well as the ability to "PIF". That being said...
Right now I have the gold amex skymiles card. Yes, this has a fee but I am hoping that considering how much my miles add up (and the increased travel I will have in the next year), it is worth it. I figure it might be a better use of my miles to UPGRADE to first class (esp on long flights), as opposed to trying to cash the miles in for a free flight (I hear there are a limited number of free seats per flight). For those who use this card--is that the case for you? Or would I be better off putting all of my vacation/traval/flight stuff on blue cash? you can attach your skymiles # to any card, correct? Which means I can still earn miles by flying? so is there really any great benefit to having the skymiles amex card?
ALSO,
I was thinking that the best next step might be to get the chase and citi cash back cards as well as the amex blue cash. Since the first 2 limit the cashback to $300, and it takes spending over $6,000 b4 the blue cash kickes in, what is the best way to use these cards? do you first try to max out the citi, then switch to chase (or vice-versa) THEN go to amex? or do you START with the amex?
Basically, I am thinking of limiting my delta card for vacation expenses only, and then focusing my attention (gas, groceries, bills, food, clothing purchases, etc) on the cash back cards (keeping one other non-reward low interest card set aside for emergency use only). does this sound like a good plan? I am planning on putting the cash I hope to get back, into my high yield savings account.
Any ideas how to best go about this would be appreciated
Sorry about the long post, by the way.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Board Monitor
Board Monitor/ Administrator
Post subject: Taking Advantage of Cash Reward Credit Cards
Posted: Sat Feb 25, 2006 9:59 am
Greetings and welcome to the board! Sounds like a reasonable plan. What is the fee for the Gold AmEx Card?
_________________
Best Regards,
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314
Post subject: Taking Advantage of Cash Reward Credit Cards
Posted: Fri Feb 24, 2006 4:39 pm
Hi!
I've been browsing this website for several months and have learned so much through this forum! I am hoping that with all of your combined experience, I will get some great advice.
I definatly want to start taking advantage of all that these cards have to offer. I understand that using these cards to their full potential requires great credit and discipline, as well as the ability to "PIF". That being said...
Right now I have the gold amex skymiles card. Yes, this has a fee but I am hoping that considering how much my miles add up (and the increased travel I will have in the next year), it is worth it. I figure it might be a better use of my miles to UPGRADE to first class (esp on long flights), as opposed to trying to cash the miles in for a free flight (I hear there are a limited number of free seats per flight). For those who use this card--is that the case for you? Or would I be better off putting all of my vacation/traval/flight stuff on blue cash? you can attach your skymiles # to any card, correct? Which means I can still earn miles by flying? so is there really any great benefit to having the skymiles amex card?
ALSO,
I was thinking that the best next step might be to get the chase and citi cash back cards as well as the amex blue cash. Since the first 2 limit the cashback to $300, and it takes spending over $6,000 b4 the blue cash kickes in, what is the best way to use these cards? do you first try to max out the citi, then switch to chase (or vice-versa) THEN go to amex? or do you START with the amex?
Basically, I am thinking of limiting my delta card for vacation expenses only, and then focusing my attention (gas, groceries, bills, food, clothing purchases, etc) on the cash back cards (keeping one other non-reward low interest card set aside for emergency use only). does this sound like a good plan? I am planning on putting the cash I hope to get back, into my high yield savings account.
Any ideas how to best go about this would be appreciated
Sorry about the long post, by the way.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: Board Monitor
Board Monitor/ Administrator
Post subject: Taking Advantage of Cash Reward Credit Cards
Posted: Sat Feb 25, 2006 9:59 am
Greetings and welcome to the board! Sounds like a reasonable plan. What is the fee for the Gold AmEx Card?
_________________
Best Regards,
Curtis Arnold
Board Monitor
http://www.cardratings.com
(501) 663-0314
posted by CardRatings.com at 9:48 AM
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