topic Re: Entry Level Travel Rewards Card in Credit Cards

Entry Level Travel Rewards Card

Anonymous — Thu, 14 Jan 2016 15:10:13 GMT

Which one is recommended? I would love to take my son on a great vacation this time next year and see no reason why I couldnt on rewards points!

Also, I have CR question. My scores reflect higher on the Dashboard for MyFICO than they do in the most recent CR that was generated in DEC. When apping will the CC companies see the updated dashboard scores or the CR scores from DEC?

Re: Entry Level Travel Rewards Card

takeshi74 — Thu, 14 Jan 2016 15:43:20 GMT

All depends on your needs/wants. Wanting to travel doesn't necessairly mean that a travel card is a best fit. "Travel card" is a really vauge classification anyway. There are miles/points cards and there are cards that are nasically restricted cash back cards.

For any rewards card you need to consider your spend and what cards maximize rewards on your spend. For mile/points programs you need to look beyond just the earn rates and consider how the method of redemption you can use with a given program will impact reward value. Sign on bonuses can also factor in as well as any other features and benefits that would be important to you.

If you want recommendations then you need to provide a lot more information. Your spend will need to be sufficient to accrue enough rewards within a reasonable timeframe (again, run the numbers for your spend). If you don't have sufficient spend then a cash back card may be better suited to you.

@Anonymous wrote:
When apping will the CC companies see the updated dashboard scores or the CR scores from DEC?

When you app a creditor will generally pull your report(s) and a score will be generated at that time based on the current data in the report. A creditor isn't going to reference your myFICO dashboard or prior scores. If you're relying on myFICO monitoring keep in mind that myFICO updates based on triggers. Not all activity with a scoring impact is a trigger.

http://myfico.custhelp.com/app/answers/detail/a_id/463/~/understanding-what-triggers-fico%C2%AE-3-bureau-credit-monitoring-and-fico%C2%AE-identity

Scores are not generated based on when myFICO updates. Your scores have the potential to change with any update to your reports.

Re: Entry Level Travel Rewards Card

Anonymous — Thu, 14 Jan 2016 15:58:21 GMT

@takeshi74 wrote:
All depends on your needs/wants. Wanting to travel doesn't necessairly mean that a travel card is a best fit. "Travel card" is a really vauge classification anyway. There are miles/points cards and there are cards that are nasically restricted cash back cards.

For any rewards card you need to consider your spend and what cards maximize rewards on your spend. For mile/points programs you need to look beyond just the earn rates and consider how the method of redemption you can use with a given program will impact reward value. Sign on bonuses can also factor in as well as any other features and benefits that would be important to you.

If you want recommendations then you need to provide a lot more information. Your spend will need to be sufficient to accrue enough rewards within a reasonable timeframe (again, run the numbers for your spend). If you don't have sufficient spend then a cash back card may be better suited to you.

I am looking for whatever has the best kick back for travel rewards. I plan on using the card for everything possible (atleast 2.5k monthly) and paying off before statement cut date. I have family in Northern California that I would like my son to be closer to. I'm hoping this will allow us to be able to travel across the country to them more frequently. I have a USAA card that offers discounts of airline tickets through point redemption but it's never enough!

Re: Entry Level Travel Rewards Card

Anonymous — Thu, 14 Jan 2016 16:33:27 GMT

@Anonymous wrote:
I am looking for whatever has the best kick back for travel rewards. I plan on using the card for everything possible (atleast 2.5k monthly) and paying off before statement cut date. I have family in Northern California that I would like my son to be closer to. I'm hoping this will allow us to be able to travel across the country to them more frequently. I have a USAA card that offers discounts of airline tickets through point redemption but it's never enough!

I think you missed part of takeshi's point. "travel rewards" is somewhat too vague. There are at least 3 kinds:

1) What some of us call "restricted cashback cards", marketed as travel and give 2%(+) on travel redemptions simply reducing the cost by 2%. Major examples are CapOne Venture and Barclays Arrival Plus. People get them for the bonuses the first year (where there is no annual fee) but after that generally not worth keeping compared to a free 2% card

2) Airline/Hotel specific cards. These cards earn miles/points in the frequent traveler program of the airline/hotel chain. They also offer additional benefits like free first checked baggage, priority boarding, or free hotel nights. Some find the hotel cards just for the free nights, and don't necessarily charge much on the card. For airlines, you can use the points on the airline or partners, which may or may not be good value depending on how you redeem

3) Transfer cards. These cards earn points in a program which then can be transferred to a set of hotel/airline partners. Chase, Amex (which currently has 2) and Citi are the big players with this type of program. You can redeem the points for travel at a slightly increased rate (e.g. 1 point = 1.2 cents) or, usually much better, transfer to a frequent traveler program when you are ready.

So it all depends on if you have a preferred airline/hotel, and if so, which program has them as partners.

$2,5K spend monthly may not be enough to justify a travel card with an annual fee.

Re: Entry Level Travel Rewards Card

Anonymous — Thu, 14 Jan 2016 17:51:18 GMT

@Anonymous wrote:
@Anonymous wrote:
I am looking for whatever has the best kick back for travel rewards. I plan on using the card for everything possible (atleast 2.5k monthly) and paying off before statement cut date. I have family in Northern California that I would like my son to be closer to. I'm hoping this will allow us to be able to travel across the country to them more frequently. I have a USAA card that offers discounts of airline tickets through point redemption but it's never enough!

I think you missed part of takeshi's point. "travel rewards" is somewhat too vague. There are at least 3 kinds:

1) What some of us call "restricted cashback cards", marketed as travel and give 2%(+) on travel redemptions simply reducing the cost by 2%. Major examples are CapOne Venture and Barclays Arrival Plus. People get them for the bonuses the first year (where there is no annual fee) but after that generally not worth keeping compared to a free 2% card
2) Airline/Hotel specific cards. These cards earn miles/points in the frequent traveler program of the airline/hotel chain. They also offer additional benefits like free first checked baggage, priority boarding, or free hotel nights. Some find the hotel cards just for the free nights, and don't necessarily charge much on the card. For airlines, you can use the points on the airline or partners, which may or may not be good value depending on how you redeem
3) Transfer cards. These cards earn points in a program which then can be transferred to a set of hotel/airline partners. Chase, Amex (which currently has 2) and Citi are the big players with this type of program. You can redeem the points for travel at a slightly increased rate (e.g. 1 point = 1.2 cents) or, usually much better, transfer to a frequent traveler program when you are ready.

So it all depends on if you have a preferred airline/hotel, and if so, which program has them as partners.

$2,5K spend monthly may not be enough to justify a travel card with an annual fee.

I would definitly be leaning towards the airline specific card. The only expense we ever have is the travel. But since we are constantly moving i'm hesitant to get a specific airline card. Are there cards tat offer points that can be redeemed through all airlines?

Re: Entry Level Travel Rewards Card

Anonymous — Thu, 14 Jan 2016 18:04:51 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous wrote:
I am looking for whatever has the best kick back for travel rewards. I plan on using the card for everything possible (atleast 2.5k monthly) and paying off before statement cut date. I have family in Northern California that I would like my son to be closer to. I'm hoping this will allow us to be able to travel across the country to them more frequently. I have a USAA card that offers discounts of airline tickets through point redemption but it's never enough!

I think you missed part of takeshi's point. "travel rewards" is somewhat too vague. There are at least 3 kinds:

1) What some of us call "restricted cashback cards", marketed as travel and give 2%(+) on travel redemptions simply reducing the cost by 2%. Major examples are CapOne Venture and Barclays Arrival Plus. People get them for the bonuses the first year (where there is no annual fee) but after that generally not worth keeping compared to a free 2% card
2) Airline/Hotel specific cards. These cards earn miles/points in the frequent traveler program of the airline/hotel chain. They also offer additional benefits like free first checked baggage, priority boarding, or free hotel nights. Some find the hotel cards just for the free nights, and don't necessarily charge much on the card. For airlines, you can use the points on the airline or partners, which may or may not be good value depending on how you redeem
3) Transfer cards. These cards earn points in a program which then can be transferred to a set of hotel/airline partners. Chase, Amex (which currently has 2) and Citi are the big players with this type of program. You can redeem the points for travel at a slightly increased rate (e.g. 1 point = 1.2 cents) or, usually much better, transfer to a frequent traveler program when you are ready.

So it all depends on if you have a preferred airline/hotel, and if so, which program has them as partners.

$2,5K spend monthly may not be enough to justify a travel card with an annual fee.
I would definitly be leaning towards the airline specific card. The only expense we ever have is the travel. But since we are constantly moving i'm hesitant to get a specific airline card. Are there cards tat offer points that can be redeemed through all airlines?

The cards in the first category, which are really cashback, can be used against travel on any airline. Those in the 3rd can be used for a set of airlines. Neither will give you free checked luggage etc unless you already have status with the airline.

But you may be best off with something like the Citi Double Cash, which gives 2% on everything with no annual fee.