topic Re: Best New Credit Cards? in Credit Cards

Best New Credit Cards?

jack92 — Tue, 11 Oct 2022 11:03:17 GMT

Hi.

Have there been any great new credit cards that have been launched lately?

Or overall, what in your opinion makes a great credit card? Which one is more important - cost structure (free/or monthly or annual fees) or rewards (points or cashback)?

Re: Best New Credit Cards?

raisemysc0re — Wed, 12 Oct 2022 01:55:00 GMT

@jack92 wrote:

Or overall, what in your opinion makes a great credit card? Which one is more important - cost structure (free/or monthly or annual fees) or rewards (points or cashback)?

For me it's getting the most (actual) cashback but I think this is a very subjective question as everybody has different spending patterns.

I have several cards that I spend on specific things that best fit that card's cashback rewards.

I only have one card with an AF (AMEX BCP $95) but I use it for the 6% groceries, Spotify and YouTube TV monthly subscription. So, it more than makes it worth it. If I could use a non AF card for these spends and come out making more in the end, I would.

Re: Best New Credit Cards?

WasteMgmt — Wed, 12 Oct 2022 02:33:28 GMT

I think it varies based on your spending habits. Do you want travel rewards or cashback? Are you ok with annual fees? Are you under 5/25? Which banking relationships do you have? And so on, I think the Venture X is a nice card and probably a top card for 2022. I really like the Amex Gold for dining and groceries with the credits it can basically cost you $10 per year. And of course I like the Chase Freedom lineup both the unlimited and Flex for no annual fee cards.

Re: Best New Credit Cards?

ptatohed — Wed, 12 Oct 2022 06:05:05 GMT

@raisemysc0re wrote:
@jack92 wrote:

Or overall, what in your opinion makes a great credit card? Which one is more important - cost structure (free/or monthly or annual fees) or rewards (points or cashback)?
For me it's getting the most (actual) cashback but I think this is a very subjective question as everybody has different spending patterns.
I have several cards that I spend on specific things that best fit that card's cashback rewards.
I only have one card with an AF (AMEX BCP $95) but I use it for the 6% groceries, Spotify and YouTube TV monthly subscription. So, it more than makes it worth it. If I could use a non AF card for these spends and come out making more in the end, I would.

Can't you? 2 card combo. citi CC for grocery 5% no AF, and USB C+ for 5% streaming? Or another citi CC for 5% streaming. I guess it depends on how much you spend per year on grocery and streaming but even if you maxed out the groceries at $6,000, you'd have to spend over $3,500 per year in streaming to break even with the $95 AF but better 6% CB.

Re: Best New Credit Cards?

ptatohed — Wed, 12 Oct 2022 06:14:14 GMT

@jack92 wrote:
Hi.

Have there been any great new credit cards that have been launched lately?

Or overall, what in your opinion makes a great credit card? Which one is more important - cost structure (free/or monthly or annual fees) or rewards (points or cashback)?

The new card that seems great, on paper anyway, is the new AAA Travel Advantage. 5% gas and charging, 3% grocery, dining, travel, and AAA.

People are having issues with the switch from BoA to Comenity but hopefully that will get sorted out. The other bummer thing is I 'think' it's only available in the northeast. As soon as I put in my zip code (CA) as prompted, I am directed to other AAA cards.

Re: Best New Credit Cards?

Gollum — Wed, 12 Oct 2022 06:46:00 GMT

@jack92 wrote:

Have there been any great new credit cards that have been launched lately?

I doubt it, and if there are/were any "great new credit cards that have been launched lately" they were probably mis-timed. The Fed is raising interest rates to try to reduce 40 year record inflation. I suggest hunkering down and keeping what you have for a while.

Re: Best New Credit Cards?

Lou-natic — Wed, 12 Oct 2022 11:39:45 GMT

@Gollum wrote:
@jack92 wrote:

Have there been any great new credit cards that have been launched lately?
I doubt it, and if there are/were any "great new credit cards that have been launched lately" they were probably mis-timed. The Fed is raising interest rates to try to reduce 40 year record inflation. I suggest hunkering down and keeping what you have for a while.

Credit cards aren't mortgages...if you don't need a new house or car right now, this is solid advice. Otherwise now is the time to re-evaluate and optimize your cards making sure your getting the best return possible for your spend. The other thing is making sure you have your credit in order so you can weather the coming storm and ideally prepare yourself for when things start to improve again. Setting yourself up now will pay off when this nonsense winds down.

Re: Best New Credit Cards?

raisemysc0re — Wed, 12 Oct 2022 12:25:39 GMT

@ptatohed wrote:
Can't you? 2 card combo. citi CC for grocery 5% no AF, and USB C+ for 5% streaming? Or another citi CC for 5% streaming. I guess it depends on how much you spend per year on grocery and streaming but even if you maxed out the groceries at $6,000, you'd have to spend over $3,500 per year in streaming to break even with the $95 AF but better 6% CB.

I was denied the USBank card due to too many recent accounts so that will have to wait.

I am currently considering the Citi CC now but not sure I want to waste an HP right now for the same reason. I also think the $500/mo limit would be spent solely on gas for me.

Re: Best New Credit Cards?

cardme — Wed, 12 Oct 2022 15:49:31 GMT

@WasteMgmt wrote:
I think it varies based on your spending habits. Do you want travel rewards or cashback? Are you ok with annual fees? Are you under 5/25? Which banking relationships do you have? And so on, I think the Venture X is a nice card and probably a top card for 2022. I really like the Amex Gold for dining and groceries with the credits it can basically cost you $10 per year. And of course I like the Chase Freedom lineup both the unlimited and Flex for no annual fee cards.

Yes! I cannot state it enough how much I appreciate this card. I've heard so many stories of people using the Chase Travel Portal w/ their bonus in points for travel only to accompany their purchase with a, "Well it was only $x's more than purchasing it direct." The Venture X not only gives good rates of cashback with their portal, but also price match It is a great card (just wish they weren't so ridiculous with their bucketing - they are the only card that put me in the middle tier for interest rate in my portfolio).

Re: Best New Credit Cards?

increasingmyfico — Wed, 12 Oct 2022 16:31:47 GMT

Suprised no one has mentioned the Wells Fargo Autograph. It was recently released to a lot of fanfare.

Re: Best New Credit Cards?

raisemysc0re — Wed, 12 Oct 2022 16:36:20 GMT

+1 for the WF Autograph.

I just got a $30K approval for this a couple of weeks ago . I use it for the 3% ags and Cell phone bill in addition to the cell protection plan.

Re: Best New Credit Cards?

SouthJamaica — Wed, 12 Oct 2022 17:25:38 GMT

@ptatohed wrote:
@jack92 wrote:
Hi.

Have there been any great new credit cards that have been launched lately?

Or overall, what in your opinion makes a great credit card? Which one is more important - cost structure (free/or monthly or annual fees) or rewards (points or cashback)?
The new card that seems great, on paper anyway, is the new AAA Travel Advantage. 5% gas and charging, 3% grocery, dining, travel, and AAA.

People are having issues with the switch from BoA to Comenity but hopefully that will get sorted out. The other bummer thing is I 'think' it's only available in the northeast. As soon as I put in my zip code (CA) as prompted, I am directed to other AAA cards.

@ptatohed Your post inspired me to apply for the AAA Travel Advantage, got instant approval for a $5200 line. Thanks.

Re: Best New Credit Cards?

BronzeTrader — Sat, 15 Oct 2022 00:05:55 GMT

@increasingmyfico wrote:
Suprised no one has mentioned the Wells Fargo Autograph. It was recently released to a lot of fanfare.

Nothing really exciting for the WF cards. Its point system is dead last. Until WF improves that, I won't put any spending on its cards. I still get the Propel card.

No love with WF now.

Re: Best New Credit Cards?

ptatohed — Sat, 15 Oct 2022 08:52:10 GMT

For me, I refuse to give any business to WF.

https://en.wikipedia.org/wiki/Wells_Fargo_account_fraud_scandal

Re: Best New Credit Cards?

Hoben02 — Sat, 15 Oct 2022 15:14:21 GMT

Well the newest credit cards are the ones that offer rewards in crypto like Gemini, Blockfi, SoFi, etc. however, I wouldn't say they are the best right now in light of the circumstances. I suggest you look at where your high spend categories are and see if your current cards have the best rewards. You can use the CardPointers app to guide you in each category

Re: Best New Credit Cards?

wasCB14 — Sat, 15 Oct 2022 20:37:27 GMT

@ptatohed wrote:
For me, I refuse to give any business to WF.

https://en.wikipedia.org/wiki/Wells_Fargo_account_fraud_scandal

I'm not sure what the largest bank is that hasn't had a similar scandal.

Citi https://www.justice.gov/opa/pr/justice-department-federal-and-state-partners-secure-record-7-billion-global-settlement

JP Morgan Chase https://www.reuters.com/article/us-jpmorgan-madoff-deal/decades-long-ties-to-madoff-cost-jpmorgan-2-6-billion-idUSBREA060JL20140107

Re: Best New Credit Cards?

BronzeTrader — Mon, 17 Oct 2022 02:29:09 GMT

I have no problem giving a lot of my credit card business to Wells Fargo BILT card.

It is the card, not the bank that I do business.