topic Re: AOD Visa Siggy Replacement in Credit Cards

AOD Visa Siggy Replacement

Rockysocks — Sat, 30 Apr 2022 00:32:00 GMT

The new million dollar question:

What to get since it's gone?

In your opinion, what's the next "best" card?

Re: AOD Visa Siggy Replacement

unsungivy — Sat, 30 Apr 2022 03:09:40 GMT

If I have to get a replacement and decide that my BBP doesn't cover enough for me, the new 2% Bread Amex (with Amex deals and free appetizers etc) looks yummy. As does Paceline (when I run the numbers, that card could be crazy good and more than offset the small AF). I'm sneaking up on Platinum Honors, so a BofA flat rate would give me 2.62%, so that'd be a possibility as well. From the "old" batch of flat rates, PenFed would prolly be my choice there for not juggling any fees etc.

Re: AOD Visa Siggy Replacement

ChargedUp — Sat, 30 Apr 2022 03:32:45 GMT

There's quite a few 2% cards out there that will likely make it for the long haul. I'll throw another one in the ring. This CU can be joined via NC Consumer Council membership. No checking account needed like PenFed requires.

https://www.ctelco.org/credit-cards/

Re: AOD Visa Siggy Replacement

FinStar — Sat, 30 Apr 2022 03:39:09 GMT

@Rockysocks wrote:
The new million dollar question:
What to get since it's gone?
In your opinion, what's the next "best" card?

You can also look into some of the following topics, especially the one being recently discussed below:

https://ficoforums.myfico.com/t5/Credit-Cards/What-cards-have-the-best-uncapped-bonus-categories/td-p/6528986

https://ficoforums.myfico.com/t5/Credit-Cards/2-3-Cashback-CB-Credit-Card-CC-List/m-p/6197473

Re: AOD Visa Siggy Replacement

Aim_High — Sat, 30 Apr 2022 04:17:53 GMT

Agree that there are a *LOT* of 2% uncategorized and uncapped cash back cards with no annual fee that could be solid contenders to replace AOD FCU Visa Signature. Of course, for those who still have it, we're grandfathered in at the 3% rate as far as we know right now. The 2% cards would probably be a fairly safe bet to minimize the chance of that card also getting nerfed, since 2% seems to be a viable rewards option now for many lenders.

There was a similar thread started 11/08/2021 "So there's no other bank offering a flat 3% cash back card?" The focus was on cards that pay *cash* back. I'll point that out since it seems that travel points cards sometimes get added to these discussion but that isn't what many members want when they are looking for a good flat-rate cash back return. In that other thread, I made a list in >>Message 6<< listing all the cards I knew about that offered more than 2% back in cash.

Of those cards, AOD FCU Visa was far and away the strong card offering permanent 3%. US Alliance Financial Credit Union has offered 3% on their card in phases and it's currently offered through 12/31/2022. There are two cards that offered enhanced cash rewards with deposits on file with Bank of America or Fidelity. These require deposits of at least $50K and up to $2 Million, with progressively higher rewards on each. The Bank of America Premium Rewards is the most attainable, with 2.25% ($50K deposits) or 2.625% ($100K deposits). Premium Rewards also earns up to 3.5% on all dining and travel. On a budget with 25% in dining and travel, the Premium Rewards overall return would be about 2.85% at the Platinum Honors level ($100K.)

IMO, the most solid contender to replace the AOD FCU Visa would be the Alliant Credit Union Visa Signature. It earns 2.5% cash back with no annual fee on spending up to $10K monthly. There are some deposit requirements to earn that return, but it's probably the most attainable, highest earning flat-rate card right now for the average consumer.

Re: AOD Visa Siggy Replacement

CreditCobra — Sat, 30 Apr 2022 05:43:55 GMT

@Aim_High wrote:
IMO, the most solid contender to replace the AOD FCU Visa would be the Alliant Credit Union Visa Signature. It earns 2.5% cash back with no annual fee on spending up to $10K monthly. There are some deposit requirements to earn that return, but it's probably the most attainable, highest earning flat-rate card right now for the average consumer.

I'd agree that the Alliant is the best out there now. The deposit requirement is only $1,000 and take a quarter or more to get to the higher rewards, but it's a solid card.

Re: AOD Visa Siggy Replacement

1LostArk — Sat, 30 Apr 2022 06:59:44 GMT

As others have said, 1.5-2% unlimited cards are plentiful. In my own personal experience, the Amex Cash Magnet is severely underrated. No AF, and you'll often get offers from Amex like the current spend $4,500 and get $45, effectively making all that spend 2.5% back. Those offers aren't always active so it averages out to around 1.8-2% back, plus other coupons and offers. I had the Cash Magnet and Citi Double cash for a long time, and the Cash Magnet was a much, much better value.

Re: AOD Visa Siggy Replacement

Anonymous — Sat, 30 Apr 2022 12:07:47 GMT

@Aim_High wrote:

Of those cards, AOD FCU Visa was far and away the strong card offering permanent 3%. US Alliance Financial Credit Union has offered 3% on their card in phases and it's currently offered through 12/31/2022. There are two cards that offered enhanced cash rewards with deposits on file with Bank of America or Fidelity. These require deposits of at least $50K and up to $2 Million, with progressively higher rewards on each. The Bank of America Premium Rewards is the most attainable, with 2.25% ($50K deposits) or 2.625% ($100K deposits). Premium Rewards also earns up to 3.5% on all dining and travel. On a budget with 25% in dining and travel, the Premium Rewards overall return would be about 2.85% at the Platinum Honors level ($100K.)

Yes, AOD had (and still has for those with it!) a remarkable set of features which always raised the viability question! Apart from the outstanding 3%, it also has no FTF (unlike USAlliance and others) and low APRs.

I checked my qualification status for the Fidelity Rewards+ and sadly (though I really knew!) because my accounts aren't fully managed, I don't qualify. Fee is 0.5%-1.5% on $2M to get 3%, so that's at least $10K a year. If you thought the management was worth the fee, then that makes sense, but......!

Re: AOD Visa Siggy Replacement

GatorGuy — Sat, 30 Apr 2022 16:59:02 GMT

@Aim_High wrote:

There was a similar thread started 11/08/2021 "So there's no other bank offering a flat 3% cash back card?" The focus was on cards that pay *cash* back. I'll point that out since it seems that travel points cards sometimes get added to these discussion but that isn't what many members want when they are looking for a good flat-rate cash back return.

Of those cards, AOD FCU Visa was far and away the strong card offering permanent 3%. US Alliance Financial Credit Union has offered 3% on their card in phases and it's currently offered through 12/31/2022.

Great post! Just to clarify because you specifically mention cash back, are there any cards that give 3x points uncapped on uncategorized spending? That would be worth atleast 3%?

Re: AOD Visa Siggy Replacement

unsungivy — Sat, 30 Apr 2022 16:20:59 GMT

@1LostArk wrote:
As others have said, 1.5-2% unlimited cards are plentiful. In my own personal experience, the Amex Cash Magnet is severely underrated. No AF, and you'll often get offers from Amex like the current spend $4,500 and get $45, effectively making all that spend 2.5% back. Those offers aren't always active so it averages out to around 1.8-2% back, plus other coupons and offers. I had the Cash Magnet and Citi Double cash for a long time, and the Cash Magnet was a much, much better value.

I would say that the new Bread AmEx is superior to the Cash Magent except for the fact that AmEx is not your customer service. 2% vs 1.5% and it will ALSO get AmEx deals (plus the free apps at some restuarnts). The real kicker is that it has no FTF, while the Cash Magnet does.

Re: AOD Visa Siggy Replacement

1LostArk — Sat, 30 Apr 2022 18:01:01 GMT

@unsungivy wrote:
@1LostArk wrote:
As others have said, 1.5-2% unlimited cards are plentiful. In my own personal experience, the Amex Cash Magnet is severely underrated. No AF, and you'll often get offers from Amex like the current spend $4,500 and get $45, effectively making all that spend 2.5% back. Those offers aren't always active so it averages out to around 1.8-2% back, plus other coupons and offers. I had the Cash Magnet and Citi Double cash for a long time, and the Cash Magnet was a much, much better value.
I would say that the new Bread AmEx is superior to the Cash Magent except for the fact that AmEx is not your customer service. 2% vs 1.5% and it will ALSO get AmEx deals (plus the free apps at some restuarnts). The real kicker is that it has no FTF, while the Cash Magnet does.

Good points. Being able to PC to BCP / BCE is another point in favor of Cash Magnet though, imo. No FTF on a no-AF card is very nice though, indeed.

Re: AOD Visa Siggy Replacement

KJinNC — Sat, 30 Apr 2022 22:16:26 GMT

Looking only at those two cards, I think I'd rather have a card issued by Amex at 1.5% than a card issued by Comenity at 2%.

I mentioned this in the AOD thread, but the PPMC now gets 3% when used to fund purchases via PayPal, and, that can be used for lots of things online. It's 2% on everything. So I would suggest it gets consideration for next-best (might still lose to the 2.5% card), though I am not a huge Sync Bank fan.

Re: AOD Visa Siggy Replacement

unsungivy — Sat, 30 Apr 2022 23:22:39 GMT

@KJinNC wrote:
Looking only at those two cards, I think I'd rather have a card issued by Amex at 1.5% than a card issued by Comenity at 2%.

I mentioned this in the AOD thread, but the PPMC now gets 3% when used to fund purchases via PayPal, and, that can be used for lots of things online. It's 2% on everything. So I would suggest it gets consideration for next-best (might still lose to the 2.5% card), though I am not a huge Sync Bank fan.

I'd trust a BofA Customized Cash rewards card set to Online Shopping (which STARTS at 3%) before the PayPal one through Sync. But they both have FTF, so meh. Having a FTF on a "supposedly good for everything" card really makes it a non-starter for me.

Re: AOD Visa Siggy Replacement

Aim_High — Sun, 01 May 2022 01:09:04 GMT

@GatorGuy wrote:
@Aim_High wrote:

There was a similar thread started 11/08/2021 "So there's no other bank offering a flat 3% cash back card?" The focus was on cards that pay *cash* back. I'll point that out since it seems that travel points cards sometimes get added to these discussion but that isn't what many members want when they are looking for a good flat-rate cash back return.

Of those cards, AOD FCU Visa was far and away the strong card offering permanent 3%. US Alliance Financial Credit Union has offered 3% on their card in phases and it's currently offered through 12/31/2022.
Great post! Just to clarify because you specifically mention cash back, are there any cards that give 3x points uncapped on uncategorized spending? That would be worth atleast 3%?

Thanks @GatorGuy. The reasons I suggested that points cards not be added to discussion:

Cash-is-cash, an easily defined valuation. With many point systems, value can vary, depending on redemption.
Points can be devalued easily and insidiously whereas cash-back has to be more obviously devalued.
Maximizing point valuation may require redemption for non-cash rewards such as travel. Many of our members who want a cash-back card don't travel or choose not to redeem for travel rewards.
Even for the same person, points may have differing value depending on when and how they are redeemed. And they won't know the actual value of a point until after they have redeemed it.
Points cards, especially for premium travel points, may include additional complexities like annual fees with potentially-offsetting credits or perks. How much someone is able to take advantage of credits or how they value perks can vary widely, and that can have a huge impact on the net rewards return.

All of that said, yes there are points cards that could exceed the 3% value in terms of travel redemptions, but not for straight cash. Still, even getting 3% equivalent or higher depends on many variables. With the major travel points systems like AMEX Member Rewards, Chase Ultimate Rewards, or Citi Thank You points, there are card combinations and transfer options that could exceed 3% (in travel) for uncategorized spend. But it's an absolute YMMV scenario, and bringing this into the discussion just unnecessarily muddies the water.

Re: AOD Visa Siggy Replacement

Jccflat — Sun, 01 May 2022 03:30:09 GMT

What u mean it's gone ? I have the card they no longer have new applications only ?

Re: AOD Visa Siggy Replacement

Bockrocker — Sun, 01 May 2022 04:43:17 GMT

Well, I already PCed my Citi double cash to a custom cash, so even if AOD got nerfed to 2% I would still probably use it for most stuff instead of getting a different card. It has low APR no FTF and simple redemption so still > most other 2% cards to me. Plus it's already there in my wallet 😂

Re: AOD Visa Siggy Replacement

KJinNC — Sun, 01 May 2022 12:20:21 GMT

"Online shopping" will cover some things that PayPal does not cover, but, what you can pay with PayPal is quite an extensive list that goes beyond what would be normally considered online shopping. PayPal (the service, not just PPMC itself) can be added to mobile wallets, among other things, which would hopefully trigger 3%, though I haven't tried it. I think there is room for creativity with this. But I agree that Sync is not my favorite issuer.

Re: AOD Visa Siggy Replacement

Credit12Fico — Sun, 01 May 2022 12:27:44 GMT

X1 card. 2x points for every dollar. If you spend more than $15,000 in a year, all of your spend for the year will receive 3x points.

Points will have 1cpp value at the following retailers:

TECH: Apple, Beats, Bose, Masterclass, Nintendo, Playstation, Sonos, Xbox
FITNESS: Adidas, Cannondale, Lululemon, Nike, Outdoor Voices, Patagonia, Peloton, Rogue Fitness, REI, Trek
RETAIL: Allbirds, Anthropologie, Aritzia, Asos, Casper, Crate & Barrel, Etsy, Everlane, Glossier, Ikea, Reformation, Sephora, Supreme, Uniqlo, Warby Parker, Wayfair
TRAVEL: Airbnb, Alaska Airlines, American Airlines, Delta, Hotels.com, Hotel Tonight, Southwest Airlines, United Airlines, JetBlue, Vrbo, Zipcar

Of course it's not as simple as you need to redeem at those retailers to truly get 3% back, but it shouldn't be hard to find a way to spend your points earned on those retailers as it's quite broad and fits the types of merchants people regularly shop with for one thing or another.

Re: AOD Visa Siggy Replacement

Wavester64 — Sun, 01 May 2022 14:41:18 GMT

@Rockysocks wrote:
The new million dollar question:
What to get since it's gone?
In your opinion, what's the next "best" card?

I musta missed the announcment - when did they drop the 3% Visa Sig?

Re: AOD Visa Siggy Replacement

unsungivy — Sun, 01 May 2022 14:45:06 GMT

@KJinNC wrote:
PayPal (the service, not just PPMC itself) can be added to mobile wallets, among other things, which would hopefully trigger 3%, though I haven't tried it.

We tried that during a 5% Discover card month, and found that it kept drawing directly from the bank account rather than using the card assigned (despite digging into the settings and trying to make sure it was only told to use the Discover both online and in store). So I wouldn't have high hopes for getting that to work.

True about certain things that are non-shopping (such as memberships... Have had the "that specifically doesn't count as shopping" fight) that you can pay via PayPal.