topic Re: Cash back Card what are your thoughts. in Credit Cards

Cash back Card what are your thoughts.

sparklerd34 — Fri, 24 Jul 2015 18:05:41 GMT

I wanted to get some feedback of what my next reward card should be. I was interested in either a chase freedom or a Discover. I also did some research on the amex blue preferred. I dont like the option of salle mae. I just wanted 1 last good reward card and this will probably be a while before get. I wanted to know which is hard to get. I am thinking the discover card is the hardest.

Re: Cash back Card what are your thoughts.

Skye12329 — Fri, 24 Jul 2015 18:25:02 GMT

No card is really "hard to get" its just if you qualify or not. Personally I think both are easy to get. How many cards have you opened up recently?

Re: Cash back Card what are your thoughts.

Anonymous — Fri, 24 Jul 2015 18:26:03 GMT

@sparklerd34 wrote:
I wanted to get some feedback of what my next reward card should be. I was interested in either a chase freedom or a Discover. I also did some research on the amex blue preferred. I dont like the option of salle mae. I just wanted 1 last good reward card and this will probably be a while before get. I wanted to know which is hard to get. I am thinking the discover card is the hardest.

Are your FICOs current based on signature?

Re: Cash back Card what are your thoughts.

sparklerd34 — Fri, 24 Jul 2015 18:41:46 GMT

Oh yea no plans to app now i am rebuilding this is later like a year or so away. i need at least 670 or higher.

Re: Cash back Card what are your thoughts.

kdm31091 — Fri, 24 Jul 2015 18:46:15 GMT

Between Freedom and Discover, go for Discover.

They are much better with CLIs and APR reductions etc vs Chase. The reward categories during the year are less specific than Freedom's (Freedom often does just Lowe's or just Amazon; Discover is less restrictive). You get a free FICO with Discover. They also have a great Discover Deals mall with high percentages off on many websites.

Pretty much comparing the two on their own I feel Discover blows Freedom out of the water. Freedom you are pretty unlikely to see much CLI growth with and you will never see an APR reduction.

Re: Cash back Card what are your thoughts.

sparklerd34 — Fri, 24 Jul 2015 18:49:41 GMT

@kdm31091 wrote:
Between Freedom and Discover, go for Discover.

They are much better with CLIs and APR reductions etc vs Chase. The reward categories during the year are less specific than Freedom's (Freedom often does just Lowe's or just Amazon; Discover is less restrictive). You get a free FICO with Discover. They also have a great Discover Deals mall with high percentages off on many websites.

Pretty much comparing the two on their own I feel Discover blows Freedom out of the water. Freedom you are pretty unlikely to see much CLI growth with and you will never see an APR reduction.

thats good to know thank because generally my overall spending is food, gas and some retail not a lot. once and a while i do a auto repair purchase. I originally wanted a chase freedom but now that i am looking at my spending habits and what i use my card for it might not be a good fit for me and my lifestyle. The only i might consider is the amex blue preferred.

Re: Cash back Card what are your thoughts.

kdm31091 — Fri, 24 Jul 2015 18:50:51 GMT

@sparklerd34 wrote:
@kdm31091 wrote:
Between Freedom and Discover, go for Discover.

They are much better with CLIs and APR reductions etc vs Chase. The reward categories during the year are less specific than Freedom's (Freedom often does just Lowe's or just Amazon; Discover is less restrictive). You get a free FICO with Discover. They also have a great Discover Deals mall with high percentages off on many websites.

Pretty much comparing the two on their own I feel Discover blows Freedom out of the water. Freedom you are pretty unlikely to see much CLI growth with and you will never see an APR reduction.
thats good to know thank because generally my overall spending is food, gas and some retail not a lot. once and a while i do a auto repair purchase. I originally wanted a chase freedom but now that i am looking at my spending habits and what i use my card for it might not be a good fit for me and my lifestyle. The only i might consider is the amex blue preferred.

The Blue Cash Preferred is a great option if you spend enough to justify the fee. 6% on groceries is pretty difficult to beat.

Re: Cash back Card what are your thoughts.

Callandra — Fri, 24 Jul 2015 18:55:47 GMT

How much do you spend on groceries a month?

Any reason why you don't want SM (the caps are too low?)?

I agree with KDM that in terms of pure cashback, Discover beats Freedom. Freedom is best if you want a Visa or if you want UR points because you plan on getting a CSP later.

Re: Cash back Card what are your thoughts.

sparklerd34 — Fri, 24 Jul 2015 18:57:26 GMT

@kdm31091 wrote:
@sparklerd34 wrote:
@kdm31091 wrote:
Between Freedom and Discover, go for Discover.

They are much better with CLIs and APR reductions etc vs Chase. The reward categories during the year are less specific than Freedom's (Freedom often does just Lowe's or just Amazon; Discover is less restrictive). You get a free FICO with Discover. They also have a great Discover Deals mall with high percentages off on many websites.

Pretty much comparing the two on their own I feel Discover blows Freedom out of the water. Freedom you are pretty unlikely to see much CLI growth with and you will never see an APR reduction.
thats good to know thank because generally my overall spending is food, gas and some retail not a lot. once and a while i do a auto repair purchase. I originally wanted a chase freedom but now that i am looking at my spending habits and what i use my card for it might not be a good fit for me and my lifestyle. The only i might consider is the amex blue preferred.
The Blue Cash Preferred is a great option if you spend enough to justify the fee. 6% on groceries is pretty difficult to beat.

yeIts funny how any card was my goal when i started and i always wanted a chase freedom but i cant keep up with the categories. now im like i only use my card for gas and groceries and back to school auto repairs, and utility bills ! LOL. Thank you for the insight

Re: Cash back Card what are your thoughts.

sparklerd34 — Fri, 24 Jul 2015 19:00:34 GMT

@Callandra wrote:
How much do you spend on groceries a month?

Any reason why you don't want SM (the caps are too low?)?

I agree with KDM that in terms of pure cashback, Discover beats Freedom. Freedom is best if you want a Visa or if you want UR points because you plan on getting a CSP later.

Thats a good question i did the points guy tool and the salle mae was an option and the amex blue preferred. Maybe i read it wrong but i thought the salle mae only allows you to spend 250 a month and then you have the option i guess to credit to your student loans or credit. etc and i would exceed that in gorceries alone i spend about 400.00. i could be wrong. maybe you can give me the 411

Re: Cash back Card what are your thoughts.

Anonymous — Fri, 24 Jul 2015 19:02:13 GMT

Is the Discover Double Cash promotion still going on? That would be the best option, in my mind. Last I checked, it was supposed to terminate at the end of July, so you might still be able to get in. If it isn't, I would go with the Amex BCP that you were considering.

Out of curiosity, why are you anti Sallie Mae?

Re: Cash back Card what are your thoughts.

sparklerd34 — Fri, 24 Jul 2015 19:07:25 GMT

@Anonymous wrote:
Is the Discover Double Cash promotion still going on? That would be the best option, in my mind. Last I checked, it was supposed to terminate at the end of July, so you might still be able to get in. If it isn't, I would go with the Amex BCP that you were considering.

Out of curiosity, why are you anti Sallie Mae?

i thought when i read you can only spend 250 a month on groceries

Re: Cash back Card what are your thoughts.

kdm31091 — Fri, 24 Jul 2015 19:11:37 GMT

@sparklerd34 wrote:
@Anonymous wrote:
Is the Discover Double Cash promotion still going on? That would be the best option, in my mind. Last I checked, it was supposed to terminate at the end of July, so you might still be able to get in. If it isn't, I would go with the Amex BCP that you were considering.

Out of curiosity, why are you anti Sallie Mae?
i thought when i read you can only spend 250 a month on groceries

Sallie Mae gets a ton of love on here. Some of it is deserved, some of it is a bit overboard. If you spend enough to justify a BCP, there's no real reason to have a Sallie Mae unless your gas spend is also high enough that 5% is significantly more than 3% (BCP's gas return). Your max return on Sallie Mae is $12.50 a month on either gas/grocery category if maxed out. At 3% on gas with BCP for $250 spend you'd get $7.50. You decide if 5 bucks a month is worth it.

People have Sallie + BCE so they can fall back onto the BCE when they hit the cap on Sallie. But if you are spending more than $250 a month on groceries regularly, you may be able to justify the BCP anyway.

Re: Cash back Card what are your thoughts.

sparklerd34 — Fri, 24 Jul 2015 19:17:45 GMT

@kdm31091 wrote:
@sparklerd34 wrote:
@Anonymous wrote:
Is the Discover Double Cash promotion still going on? That would be the best option, in my mind. Last I checked, it was supposed to terminate at the end of July, so you might still be able to get in. If it isn't, I would go with the Amex BCP that you were considering.

Out of curiosity, why are you anti Sallie Mae?
i thought when i read you can only spend 250 a month on groceries
Sallie Mae gets a ton of love on here. Some of it is deserved, some of it is a bit overboard. If you spend enough to justify a BCP, there's no real reason to have a Sallie Mae unless your gas spend is also high enough that 5% is significantly more than 3% (BCP's gas return). Your max return on Sallie Mae is $12.50 a month on either gas/grocery category if maxed out. At 3% on gas with BCP for $250 spend you'd get $7.50. You decide if 5 bucks a month is worth it.

People have Sallie + BCE so they can fall back onto the BCE when they hit the cap on Sallie. But if you are spending more than $250 a month on groceries regularly, you may be able to justify the BCP anyway.

ok one more question do i have to spend a certain amount to get the 6% on the BCP? so say for instance i spending 350.00-400 a month on groceries and 200.00 a month or is it a tier program?

Re: Cash back Card what are your thoughts.

kdm31091 — Fri, 24 Jul 2015 19:22:55 GMT

No you get the 6% on groceries right away with BCP. No tier or anything. The older Blue Cash had I think 1% until you spend 6500 or something then you get 5%. The BCP has no such restriction, though the yearly cap is 6k on the 6% (then you get 1%).

If you spend 350 a month on groceries BCP is absolutely going to be worth it.

Re: Cash back Card what are your thoughts.

Anonymous — Fri, 24 Jul 2015 19:25:38 GMT

@kdm31091 wrote:
No you get the 6% on groceries right away with BCP. No tier or anything. The older Blue Cash had I think 1% until you spend 6500 or something then you get 5%. The BCP has no such restriction, though the yearly cap is 6k on the 6% (then you get 1%).

If you spend 350 a month on groceries BCP is absolutely going to be worth it.

Great if you're willing to wait two months for your cash, Lol.

Re: Cash back Card what are your thoughts.

sparklerd34 — Fri, 24 Jul 2015 19:27:27 GMT

@Anonymous wrote:
@kdm31091 wrote:
No you get the 6% on groceries right away with BCP. No tier or anything. The older Blue Cash had I think 1% until you spend 6500 or something then you get 5%. The BCP has no such restriction, though the yearly cap is 6k on the 6% (then you get 1%).

If you spend 350 a month on groceries BCP is absolutely going to be worth it.
Great if you're willing to wait two months for your cash, Lol.

If i can wait this long to get my credit in order, as long as i can benefit on what im already spending. 2 months wont kill me LOL. sounds like the BCP is for me

Re: Cash back Card what are your thoughts.

kdm31091 — Fri, 24 Jul 2015 19:27:40 GMT

@Anonymous wrote:
@kdm31091 wrote:
No you get the 6% on groceries right away with BCP. No tier or anything. The older Blue Cash had I think 1% until you spend 6500 or something then you get 5%. The BCP has no such restriction, though the yearly cap is 6k on the 6% (then you get 1%).

If you spend 350 a month on groceries BCP is absolutely going to be worth it.
Great if you're willing to wait two months for your cash, Lol.

That is a downside and I hate that with my BCE. But really, even though yes Sallie does award the cash instantly, I believe you still have to wait to hit $25 to redeem, which is the same as BCE/BCP.

Re: Cash back Card what are your thoughts.

sparklerd34 — Fri, 24 Jul 2015 19:42:17 GMT

@sparklerd34 wrote:
@Anonymous wrote:
@kdm31091 wrote:
No you get the 6% on groceries right away with BCP. No tier or anything. The older Blue Cash had I think 1% until you spend 6500 or something then you get 5%. The BCP has no such restriction, though the yearly cap is 6k on the 6% (then you get 1%).

If you spend 350 a month on groceries BCP is absolutely going to be worth it.
Great if you're willing to wait two months for your cash, Lol.
If i can wait this long to get my credit in order, as long as i can benefit on what im already spending. 2 months wont kill me LOL. sounds like the BCP is for me

thank you for some clarificaton that helps. i really dont need any more cards. just one last card and that will be good for me.

Re: Cash back Card what are your thoughts.

steel_string — Sat, 25 Jul 2015 02:05:00 GMT

For comparisons like this, you really need to look at how much you spend and where and calculate how much you'd net after AF. Where do you buy those groceries? Will you be using the card for gas? Do you shop at Wal-Mart? Target? Amazon? bookstores?