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Valued Contributor
CreditScholar
Posts: 2,300
Registered: ‎01-22-2012
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Re: whats the Best of the Best


parakleet wrote:
I'm not sure how me parlaying my regular spending and good credit to get business class tix for international flights through points/miles would be considered irresponsible. I don't have a six figure income so I could never afford to pay for business class flights. But if I can do it by maximizing my current spending, why not?

The issue is when people take it to excess by taking on too many cards, applying too often, and end up ruining their credit and/or setting themselves back in the rebuilding process. As I said previously common sense should prevail, but appbar was nicknamed as such for a reason and isn't alone in his endeavours.

FICOs: EX: 826, EQ: 817, TU: 810
Bank of America Privileges with Travel Rewards Visa Signature - $23,200 CL
Chase Sapphire Preferred Visa Signature - $12,700 CL
Chase United MileagePlus Club World Elite MasterCard - $26,500 CL
Citibank American Airlines Executive World Elite MasterCard - $22,500 CL
J.P. Morgan Ritz Carlton Visa Signature - $23,500 CL
Established Contributor
ztnjpv
Posts: 726
Registered: ‎02-01-2012
0

Re: whats the Best of the Best

[ Edited ]

I agree. People who go on app-sprees and ruin their credit just to get miles/points are just silly....to say the VERY least. However, in defense of the frequent flyer bloggers from whom these ideas propagate more quickly, they all guard their credit very tightly and understand how to balance what they are doing for travel with their everyday credit needs. From what I have seen, all of them have excellent credit and NEED it to do what they do. It's their life blood.

 

If you read them enough, it doesn't take long to see credit related topics wherein they stress how to manage your credit file and not take things further than you handle. If people do take it further than they can handle, then it's their own fault and they have selectively read the bloggers' artlcles while ignoring fundamentals on maintaining credit strength and the bigger picture. Adults needs to be adults,


Starting Scores (Sept 2011): All lower-mid 600s. CURRENTLY: TU FICO: 801 (3/28/14), EQ FICO 808 (3/28/14), EX FICO 798 (9/4/13) (PSECU). Goal: Achieved! Now Maintain!
Established Contributor
FutureBillionaire
Posts: 641
Registered: ‎12-12-2012
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Re: whats the Best of the Best


kibarrow wrote:
Parakleet: so glad for your response. Someone had to say something so we can get back to our sharing and questions.
Everyone here shares a common thread. We all understand the value of a dollar and more importantly credit. Some late bloomers, some just right on time. (And NOOO judgement)
My tenure may be in it's infancy compared to some but I have gotten the feeling that the forum is a place of questions and opinions and seeking the opinions of people who have something in common. That "thing" can be summed up as "wow, great/good credit is awesome, or I'm working on it". The term "gardening"....hoooooly crap. Never heard it until here, but after the second usage, it was clear. The "unicorn" card from Amex. Too awesome a term.
Can't get into, subscribe to, (not that i was petitioned to but I am sure I am not alone)the "normal people" comment. What is normal? Not one person here, AGAIN...not much tenure but I read swiftly and retain, is here because they are regressing with credit. All have hopes to improve or lower debt, blah blah blah. But certainly not to be level set.
No offense intended I promise. But pretty pretty please.... Ease up. There's certainly a forum for that. Don't know where it is, but wowser...
Late train ride and Netflix can't stream the last leg, but I certainly felt like maybe you've ran your course. No more questions to ask. No comment on the rewards. Etc


I don't intend to offend.  I should have elaborated. 

 

Irresponsible credit card applications that may preclude you from getting a loan for something you actually NEED are harmful.  I use credit card rewards to supplement my income to buy things I might not otherwise.  I personally don't think that it makes sense to use all of the rewards to jetset around the world if you are barely making ends meet at home.  I believe that taking care of home is more important, and not doing so is irresponsible.

 

I'm not here to judge anyone.  I think I dislike the American way of consume at all costs and pay the price later.  In this instance, credit scores pay the price.   I'm sure most folks that do these app sprees take HUGE credit hits if they aren't tenured users of credit.

Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward,
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape
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webhopper
Posts: 7,230
Registered: ‎09-16-2011
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Re: whats the Best of the Best

This thread seems to have gotten off-topic.  Please lets all show respect to the OP by staying on-topic with all comments.


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
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Established Contributor
FutureBillionaire
Posts: 641
Registered: ‎12-12-2012
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Re: whats the Best of the Best

The cash + was the best card before it was nerfed.  Now, I dont think there is such a thing.

Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward,
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape
Contributor
leoment
Posts: 227
Registered: ‎11-25-2012
0

Re: whats the Best of the Best

I'd say the Citi Forward is an excellent card because it's fairly easy to rack up points on.. Granted you're a little limited on your redemptions, but I like it.  Another card (provided you're not a big spender) is the Sallie Mae MC.. If I had known about that card, I'm pretty sure I never would've gotten my BCP.  Even now I'm extremely tempted to app for it anyways :smileyhappy:


Building the perfect card portfolio, one app at a time.
Available credit: $60+k
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Planned apps: NONE! Gardening indefinitely! - Gold Spade 1/26/14
Super Contributor
longtimelurker
Posts: 6,168
Registered: ‎04-22-2013
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Re: whats the Best of the Best

[ Edited ]

To echo some others, there is no "best of the best" for everyone, any more than there is a best car, a best beer, a best color, or a best suicide method.

 

For each individual, it comes down to a few factors:

 

1) What rewards you want/need.  As we see in this thread, this can include not only "traditional" rewards, but things like a very low APR.   So if you really want premium cabin international travel, a straight cash back card probably isn't going to get you there.   If your goal is to get money back, you look at cards with good sign up bonuses and decent cash back structure.  Modcut

2) Matching spending to rewards. Apart from things like the very low APR reward, you want to make sure that your pattern of spending matches the reward earning categories on the card.   So a card that gives you 7x points when you shop at X isn't that useful if you don't shop there, but will be very good for those that do.

3) How it fits into your other cards.    Does it offer greatly enhanced value over your existing cards, either covering new spending categories or giving higher rewards.

4) Can you get it?  Well, doesn't stop it being the best of the best for you, but if the card has much higher score requirements, or income requirements, than you can meet, doesn't matter how great it will be to get it, you can't get it (now!) so look for something else till you can.

 

That said, my best of the best?  Don't have one!   Used to be Citi 5x TYP but now I am scared to (mis)use it, and Penfed Platinum Rewards, but I think that will shortly be nerfed.   Possibly now the Fidelity Amex, but that isn't particularly exciting.

 

edit to remove unauthorized link

webhopper

Most active cards: Amex BC ($50K), Cap One QS ($33K) Fidelity Amex ($20K)
Others: CSP, Freedom, Chase Amazon, Cap One QS, Penfed Plat Rewards (x2), Citi TY Preferred, Citi Dividend, Citi AA Plat Select, Citi Forward, Amex BCE, Amalgamated Bank, Sallie Mae, Cash Plus
Scores May 14: EQ 848, EX 833, TU 841 (Jul)
Established Contributor
FutureBillionaire
Posts: 641
Registered: ‎12-12-2012
0

Re: whats the Best of the Best


longtimelurker wrote:

To echo some others, there is no "best of the best" for everyone, any more than there is a best car, a best beer, a best color, or a best suicide method.

 

For each individual, it comes down to a few factors:

 

1) What rewards you want/need.  As we see in this thread, this can include not only "traditional" rewards, but things like a very low APR.   So if you really want premium cabin international travel, a straight cash back card probably isn't going to get you there.   If your goal is to get money back, you look at cards with good sign up bonuses and decent cash back structure.  Modcut

2) Matching spending to rewards. Apart from things like the very low APR reward, you want to make sure that your pattern of spending matches the reward earning categories on the card.   So a card that gives you 7x points when you shop at X isn't that useful if you don't shop there, but will be very good for those that do.

3) How it fits into your other cards.    Does it offer greatly enhanced value over your existing cards, either covering new spending categories or giving higher rewards.

4) Can you get it?  Well, doesn't stop it being the best of the best for you, but if the card has much higher score requirements, or income requirements, than you can meet, doesn't matter how great it will be to get it, you can't get it (now!) so look for something else till you can.

 

That said, my best of the best?  Don't have one!   Used to be Citi 5x TYP but now I am scared to (mis)use it, and Penfed Platinum Rewards, but I think that will shortly be nerfed.   Possibly now the Fidelity Amex, but that isn't particularly exciting.

 

edit to remove unauthorized link

webhopper



I converted my Penfed Cash rewards to the platinum rewards so I could have two. I'm going to be ticked if it is nerfed. I could have kept the cash version for 5% on gas all year long. I will only be able to get 3% if they get rid of that feature. 

Gas: Discover It, Penfed Platinum Rewards x2, Chase freedom, Citi TYP
Plane tickets: CSP
Groceries: AMEX BCP, Penfed Platinum Rewards,Citi TYP
Clothes: Express, Amex BCP, Discover IT
Amazon: Citi Forward, Cash +
Restaurants: Citi Forward, Chase Freedom, Discover IT, CSP
Hotels and other travel: Discover Escape, CSP
Movies: BofA travel rewards visa signature(fandango), Discover IT, Citi Forward, Freedom
Bars, clubs, tomfoolery: CSP, Citi Forward, Discover IT, Freedom
Balance transfers: Kroger 123 rewards
Bill Pay: Chase Ink Plus, Citi Forward,
Everyday spending: Bofa Accelerated cash rewards amex, Discover Escape

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