Credit Tips: Good Rewards Credit Card

Posted On: May 1, 2006

Author: BAH
Posted: Thu Mar 02, 2006 12:31 pm
Post subject: First Post - What credit card.

Ok here is the deal. I have excellent credit and I am looking for a new reward card. Currently my wife and I have a Citi AA card. However we never fly, we got the card to earn miles for a Europe trip. We use this card for everything and pay it off entirely each month. We spend a bunch! Last year was over $115K and we have over 300K miles . So needless to say we have enough for Europe.

Now I would like to leverage that spending to get some cash or different rewards. I really don’t want to have more than 1 card to get the rewards, and most cash back cards have an annual limit or a low 1% return. I would like to stay away from and annual fee since it eats away at the cash back.

I was considering the Chase Cash Plus, but cannot find if it has an annual cash back limit.

I already have another Citi Drivers Edge card, but I never use it and have never turned in the points. So if Citi has a card with no annual limit and good cash back I could switch easier than going to Chase.

Really I just don’t want to have to mess with rewards. I would like something easy to manage, and beneficial wherever I shop.

Thanks for any advise!

Author: maddybeagle
Posted: Thu Mar 02, 2006 12:40 pm
Post subject:

let’s see you spend 115k/yr and only want 1 card? and more than 1% back and no cap? I would look at amex blue (no cap and 5% on everyday purchases when spend over 6500 and 2% on everything else. I think some of the other cards (household and BOA have some other high roller cards with higher cash back also.) BOA was discussed recently.

Author: BAH
Posted: Thu Mar 02, 2006 1:29 pm
Post subject:

Thanks for the info I will look into it, I knew there had to be something better. I know it probably sounds stupid that I am whining about 1% when I spend so much, but it is not all my income. I expense a good portion of that through where I work. They have offered to get me a card, but I always find a way to convince them to let me use mine so I can get the benefit.

Plus next year I will be building a new house and have some funds saved up. So on the construction loan I was planning on the first big draws (concrete, framing) to pay that with the card to buy me the grace period of interest on the construction loan, then pay it off with savings. If I can find the vendors I should be able to get 60 days off of the high interest construction loan before I finance it into a mortgage.

Anyway thanks for the help.

Author: BAH
Posted: Thu Mar 02, 2006 1:55 pm
Post subject:

FYI I went ahead with the Amex Blue. 2 main reasons, 1 I have never had an Amex card and 2 I shop at Costco a bunch so now I don’t have to write a check or use my bank card. FYI after $6500 it looks like they have dropped it to 1.5% on everything else instead of 2%.

Thanks for the advice.