Reply
Member
kents
Posts: 12
Registered: ‎10-03-2009
0

Re: american express suggestions

I don't need an american express card. I kept reading that they have great rewards. Just thought I'd hear some opinions. What are other great rewards credit cards for good, but not excellent credit?
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007
0

Re: american express suggestions

Penfed.
Frequent Contributor
crosbyk1
Posts: 485
Registered: ‎02-17-2008
0

Re: american express suggestions

I like my chase freedom card, It is very easy to earn cash back. My mother just got a discover more card last month and it seems like a good card.

Starting Score: 744
Current Score: 744
Goal Score: 800


Take the FICO Fitness Challenge
Valued Contributor
tray
Posts: 1,513
Registered: ‎01-29-2008
0

Re: american express suggestions

Hi, have you tried the american express pre-selected card site to see if for curiousity if any card shows up for you.

Starting Score: EQ 546 TU 566
Current Score: EQ 693TU 08 729 EX 08 738Need to Garden/New Accounts
Goal Score: 800
Moderator Emerita
Community Leader
Epic Contributor
haulingthescoreup
Posts: 28,098
Registered: ‎04-01-2007
0

Re: american express suggestions


kents wrote:
I don't need an american express card. I kept reading that they have great rewards....

This is one of those beliefs that keep floating around. IMO, AmEx has pretty crappy rewards, other than for the Costco True Earnings card.

Blue Cash requires you to spend $6500, I think it is, at very low rewards before hitting the higher level. And on midnight of December 1, you have to start all over again. So it's good for those who will use it for their one-and-only card, running a ton of money through it, but otherwise, it's real average.

Gold Preferred Rewards gives double points for the first year, but after that, it's single points, plus then you have to start paying the fee. If the fee is $165 (I think that's the amount), you'd have to charge $16,500 on the card every year just to cover the fee.

Yes, heavy, heavy travelers can rack up good rewards, but most of us aren't on the road for 2 and 3 weeks of every month. I'd get one if I ever switch into traveling consulting.

Where American Express shines is in their general quality of customer service and their support for travelers. If you're one of those who live in the departure lounge, tapping away at the laptop and BB, then they're great. Otherwise, I think the rest of the masses can do better elsewhere.

* * * * * * * * * * * * * * *

General note: whenever you read about an awesome rewards card, find out the details of it, and then plug it into your own life situation. Even my beloved PenFed Plat would be kinda silly for someone who doesn't drive or otherwise buy gas. Although even then, 2% on groceries and 1.25% on everything else, redeemed monthly, ain't bad for these days.
* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Senior Contributor
smallfry
Posts: 4,831
Registered: ‎04-20-2007
0

Re: american express suggestions

That's why I don't care to get the Pentagon Rewards Card. I am lucky enough to get my gas paid for at work. One of the last perks left.
Established Contributor
Watchmann
Posts: 989
Registered: ‎05-14-2008
0

Re: american express suggestions

Rewards are a nice perk, but don't change your life just so you can get 1-2% back.  It's nice, but should not be the driver in which card you get.
Frequent Contributor
andyaycw
Posts: 298
Registered: ‎07-25-2007
0

Re: american express suggestions


haulingthescoreup wrote:

General note: whenever you read about an awesome rewards card, find out the details of it, and then plug it into your own life situation.


Well said and good advice!

I have the Amex Clear which gives a flat 1% on all purchases. Clearly not the best rewards card, but as a college student who doesn't spend very much, I find it very nice that I only have to spend $2500 before I get to cash in.

I've also had very good experiences with Amex as far as customer service and their Purchase Protection programs go. All of my large purchases and Ebay purchases go on my Amex card.

Starting Score: EQ 773, TU 766
Current Score: EX 794, EQ 787, TU 776
Goal Score: 800


Take the FICO Fitness Challenge
Member
UncleJ
Posts: 10
Registered: ‎10-05-2009
0

Re: american express suggestions

Hey Kents,

 

I just got my Schwab Invest First Visa, and I think it could have better rewards than AMEX cards. It's 2% back on all purchases, but it deposits the 2% into a brokerage account. I figure I should invest while I'm young and let that money sit. I can always take it out if I needed it. I'd recommend checking it out.

 

-UncleJ 

Super Contributor
DI
Posts: 5,744
Registered: ‎01-28-2008
0

Re: american express suggestions

[ Edited ]

smallfry wrote:
That's why I don't care to get the Pentagon Rewards Card. I am lucky enough to get my gas paid for at work. One of the last perks left.

But, you can use the PenFed Rewards card to get free cellular phone protection coverage.  

Message Edited by DI on 10-13-2009 08:18 AM

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}