topic Best credit/charge card overall? in Credit Cards

Best credit/charge card overall?

Anonymous — Fri, 03 Jun 2011 00:14:15 GMT

Ever since I got my Amex "back" I've developed a serious interest in FICO scores, credit cards, charge cards and the like.

There doesn't seem to be a review out there of "Best card overall".

You have Amex charge cards; PIF every month, points on everything, Amex CS, automatic rental protection and even some unique benefits that I read on epinions one time (where Amex took care of both the financials and logistics for an overseas death over the weekend)

Then the Chase Freedom credit card with its benefits, etc

Just curious what people consider their own "best package".

Personally I love my Amex green, even its cachet, whether actual or perceived, I like it lol. I also factor in the ease of use and various abilities of a card's website and Amex has a good one.

Re: Best credit/charge card overall?

Walt_K — Fri, 03 Jun 2011 00:38:35 GMT

There's too many options, that fit too many different spending patterns. That's why there's no obvious absolute standout for best card.

I debated a long time over Amex Platinum and PR Gold. I would like the lounge access, but ultimately I chose the PR Gold because I felt the 3x points on airfare and 2x gas/groceries was worth more than the lounge access. I also have the SPG card to allow me to earn a few cash and points nights a year and to top off mileage accounts for airlines I don't fly very often, but mainly I put my spend on the PR Gold card. I suppose my ultimate card would be an Amex Plat that earned 3x/2x like the PR Gold, and some revision of the MR program that allowed for a better transfer between MR points and Starpoints. But the annual fee on that card would probably be ridiculous and I wouldn't want to pay it.

I've also been heavily debating the Chase BA Visa because the 2 for 1 award ticket once you hit $30K spend would be a great value for us. It took a lot of discipline not to apply for it while they were running the 100K miles bonus. I'm preparing for a new mortgage app early next year, so no apping until then. Afterward I'll have to reconsider whether I would get better value moving my spend over to the BA Visa. Maybe they'll rerun the 100K bonus.

Re: Best credit/charge card overall?

Anonymous — Fri, 03 Jun 2011 01:11:12 GMT

That could almost be considered two votes for an Amex charge card of some type

Re: Best credit/charge card overall?

drsmith — Fri, 03 Jun 2011 01:49:33 GMT

Welcome Dan

I recognize you from the AmEx forum. I don't think there can be a truly "best" card. There are just too many variables to consider when selecting a card and a lender. That said, I think any card from a prime lender, with a good APR and rewards structure would suffice for 99% of credit card users.

Re: Best credit/charge card overall?

Anonymous — Fri, 03 Jun 2011 01:54:13 GMT

Yep, I found this place from that place lol.

I wonder if many are like me and want a no-hassle card and no-hassle rewards and so far Amex fits that for me.

Some cards have revolving categories that earn the high rate at times, points that expire or otherwise limited, etc and those are Not for me haha.

Re: Best credit/charge card overall?

scottwagnon — Fri, 03 Jun 2011 02:29:33 GMT

penfed promise if you think like me.

Re: Best credit/charge card overall?

OnTheRebound — Fri, 03 Jun 2011 02:34:42 GMT

In my opinion, there is no "ONE" best card, but a combination of cards. For us, rotating between the PenFed Cash Visa, Chase Freedom and Amex Blue Cash Preffered works very well to maximize rewards. It just depends on what you want from a card. I don't understand points very well. Cash, I understand.

Re: Best credit/charge card overall?

Anonymous — Fri, 03 Jun 2011 07:14:08 GMT

I trave a lot so my best card is The Wells Fargo Visa which is one of the few card issued in the US with Chip and Pin technology which is imperative to have if you travel abroad where striped based credit card are no longer widely accepted.

Re: Best credit/charge card overall?

Anonymous — Fri, 03 Jun 2011 07:58:10 GMT

BofA Bankamericard

Re: Best credit/charge card overall?

Anonymous — Fri, 03 Jun 2011 12:59:13 GMT

@Anonymous wrote:

I wonder if many are like me and want a no-hassle card and no-hassle rewards and so far Amex fits that for me.

To me, "no-hassle" means not having to collect points, worrying about what airline I am buying tickets on, point expiration, point balances, applying to exchange points for gift cards or other rewards...

PenFed cash back card suits me for that concept. I buy my everyday things with it, I buy gas wherever I want... At the end of the month, they automatically credit my balance with my cashback percentage. No forms, no points, no hassles. 5% cash back on 100+ gallons of gas per month is an A+ in my book.

Re: Best credit/charge card overall?

Anonymous — Fri, 03 Jun 2011 13:00:23 GMT

@Anonymous wrote:
BofA Bankamericard

Any particular reason?

Re: Best credit/charge card overall?

UFGuy2006 — Fri, 03 Jun 2011 13:33:58 GMT

@OnTheRebound wrote:
In my opinion, there is no "ONE" best card, but a combination of cards. For us, rotating between the PenFed Cash Visa, Chase Freedom and Amex Blue Cash Preffered works very well to maximize rewards. It just depends on what you want from a card. I don't understand points very well. Cash, I understand.

I would have to agree. The best card to date for me is the old Schwab Invest First Card (2% back on everything deposited into my savings monthly)... But unfortunately that's been canned for a while. I say leveraging different rewards depending on the purchase (And rewards category at the time) is the only way to maximize your potential return.

Re: Best credit/charge card overall?

oldtowngrill — Fri, 03 Jun 2011 20:13:45 GMT

Great Thread. I hope this isn't an inappropriate post in the "credit card" section and thread, but here goes anyway. There's a bank I use called perkstreet that offers 2% cash back on all trasactions with your bank debit card if ran "as credit" (master card). Every month they have different incentive programs that give 5% back on various types of purchases (gas, home improvement, flowers, etc.). I love this as I can use my own money not credit while earning more than I can with most all credit cards (cash back anyway). The card also has benefits like extended warranties, roadside assistance, rental car ins. coverage, etc. The only catch that I have found is that after month 3 you have to keep a $5,000 balance to earn 2%, anything under that is only 1% but you still get the 5% cash back on the promotional items.

As someone who's spent a ton of effort and money repairing my credit I now my credit wisely and sparringly. Since this allows me to use my own money and get 2% cash it works best for me. I've recommened to my friends who are in credit repair or just don't use credit and they love it too.

Re: Best credit/charge card overall?

Anonymous — Sun, 05 Jun 2011 07:08:27 GMT

I prefer my Citi CC overall.

They give me the highest limit and the lowest APR (10.74% currently. The wifes is 6.74% on her citi) and have been very helpful when Ive had problems.

Re: Best credit/charge card overall?

shiftomnimega — Sun, 05 Jun 2011 15:41:42 GMT

I think the answer is really going to depend on an individual's needs, desires, and spending habits.

If you carry a balance, then you'll need the lowest APR you can get.

If you don't carry a balance, then I think everyone in this category will need a 2% flat rewards card for most purchases. So nowadays that would be either the Fidelity AMEX or the Cap1 Venture Visa. The latter has an annual fee, but I think it's low enough not to be a problem.

Re: Best credit/charge card overall?

Anonymous — Mon, 06 Jun 2011 02:01:27 GMT

The best ones are those that accept your application and not dump you later.

Re: Best credit/charge card overall?

mmduluth — Mon, 06 Jun 2011 02:08:58 GMT

Personally, I love my Chase Freedom. 1% cash back on everything but 5% rotating categories. It's pretty easy to rack up the points especially when you shop through their rewards mall and get even more for shopping through merchants I shop at all the time anyways.

Re: Best credit/charge card overall?

DI — Mon, 06 Jun 2011 02:19:21 GMT

Chase Freedom is the best card. If you're one who carry balances, the Freedom card let you pick the category of charges you want to pay in full each month.