11-30-2008 03:45 PM
I'm looking for a good all around rewards card (gas, groceries, everyday purchases). I don't care about interest rates because I PIF, and I refuse to pay any kind of monthly maintainance or annual fee. My FICO scores range between low to mid 700's and my credit reports are clean. I have a WAMU Platinum 3.5K limit 18 months old, Providian 8K limit 8 years old and a Lowes 2K limit 6 months old. Always pay in full and never, ever carry a balance.
Many thanks in advance for your suggestions.
11-30-2008 04:30 PM
I really like the PenFed platinum rewards visa. No annual fee, with 5% cashback for gas, 2% Groceries, and 1.25% for everything else. There is no limit or cap to the rewards you can earn.
My second fave that has no fee would be Discover.
11-30-2008 05:12 PM - edited 11-30-2008 05:17 PM
Another cheer for the Penfed Platinum Cash Rewards card. For all the reasons stated above. But for also being a true no hassle card. Rewards are automatically credited back to your account monthly. No dealing with some pre-set threshold you must reach. A true workhorse card that simply saves you money.
Wanted to add in case you were unaware Pentagon Federal Credit Union requires membership. There are many ways to join free the easiest being that you know another member who would sponsor you in. However if you meet none of the free membership options you can join NMFA (National Military Families Association) for $20 right from the Penfed website. That brings the total for membership to $25 since you must open a $5 share account.
They pull upon membership so do not be shy about application you already took the hit and they use that pull for everything for up to 90 days. One warning they have a known dislike of many INQ's and new accounts.
11-30-2008 07:26 PM
12-01-2008 05:31 AM
The caveat of course is that you need near pristine credit to get the penfed card. And if you have no military connections, you have to donate to some nonprofit on top of your $5.00 membership fee. Otherwise, go with Discover if you don't feel like holding off until your scores are near 690-700.
Offtopic: penfed made 1 inquiry for both my membership pull and credit card application. Those of you who got hit with two inquiries (I've only seen two such posts) got a raw deal.
12-01-2008 06:18 AM
12-01-2008 06:26 AM - edited 12-01-2008 06:27 AM
12-01-2008 07:11 AM
American Express True Earnings (Cash-back):
1% Everything else
Fidelity Visa Rewards Signature (Points):
*Redeemable for 1.5% cash-back
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