Want to Take Advantage of Credit Cards with Rewards
Guest: tucker12
Post subject: Want to Take Advantage of Credit Cards with Rewards
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.
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Guest: Board Monitor
Board Monitor/ Administrator
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
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CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: tonygoldston
Posted: Sat Feb 25, 2006 9:14 pm
tucker12,
I would say if you are planning on using the AMEX Blue start with it. The faster you hit the $6000 starting limit the better. I personally stay away from AMEX for that reason. I usually spend around $3000 per month on CCs so I would hit it quickly, but I figure that I am coming out ahead using the 5% cards and just have mulitple ones. So when I hit the limit on them, I drawer them and move to the next. (example I have a Discover Restaurant card that I used for 3 months and hit the $1500 limit for the 5% rebates, put it in the drawer and started using a different Discover Restaurant account.)
I use the BOA power rewards card for everything I can't put on a higher % card and it is giving 2% at high levels (there are many posts about this one.)
Just my 2cents.
tony
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: tucker12
Posted: Sun Feb 26, 2006 2:27 pm
i believe the fee is around $80. they waived it the first year. there seems to be kind of a "pro amex" group and "anti amex" group around here!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Post subject: Want to Take Advantage of Credit Cards with Rewards
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
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
Sign up for our free monthly e-mail newsletter!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: tonygoldston
Posted: Sat Feb 25, 2006 9:14 pm
tucker12,
I would say if you are planning on using the AMEX Blue start with it. The faster you hit the $6000 starting limit the better. I personally stay away from AMEX for that reason. I usually spend around $3000 per month on CCs so I would hit it quickly, but I figure that I am coming out ahead using the 5% cards and just have mulitple ones. So when I hit the limit on them, I drawer them and move to the next. (example I have a Discover Restaurant card that I used for 3 months and hit the $1500 limit for the 5% rebates, put it in the drawer and started using a different Discover Restaurant account.)
I use the BOA power rewards card for everything I can't put on a higher % card and it is giving 2% at high levels (there are many posts about this one.)
Just my 2cents.
tony
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: tucker12
Posted: Sun Feb 26, 2006 2:27 pm
i believe the fee is around $80. they waived it the first year. there seems to be kind of a "pro amex" group and "anti amex" group around here!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 6:29 PM
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