topic Re: Help me choose a general spend card... in Credit Cards

Help me choose a general spend card...

celluloid17 — Mon, 10 Mar 2014 23:51:49 GMT

I'm in the garden and not wanting to apply for any new credit for a good long while, so I'm trying to maximize the cards I currently have to get the best returns.

I have a bunch of categories cards, but I'm trying to figure out which card would be the wisest to use for daily, non-categorized spending. I'm not a big spender at all and probably have too many credit options for someone with meager spending habits.

Currently, I have the following - all of which offer at least 1% back on general spending:

Sallie Mae: gas and groceries (I never exceed the $250 cap for 5% back)

U.S. Bank Cash +: cell phone bill (5%), fast food (5%), drug stores (2%)

Amex TrueEarnings: Costco and 2% back on restaurants - this card essentially has a $55 AF, which is the mandatory Costco membership

This leaves me with three cards I don't know how to really use regularly:

Chase Freedom: I've been using this card to pay insurance bills because I want to keep this TL open and active because it's my lowest APR and I get the 10% bonus on points at the end of the year for having a checking account, but needless to say, we're not talking about a lot of points.

Elan Financial Visa: It's my oldest and highest TL and it offers 1.25% back on spend, but no other frills. I would just assume close this card if it didn't have the most age and I had the ability to move the CL to another card, which I don't.

Discover It: This is a SD card for me unless a rotating category is particularly useful and not redundant.

I'm torn between Chase Freedom, Elan Financial (blah!) or Amex TrueEarnings for a daily general spend card. The Chase because of the UR points, the Elan for the 1.25% back, or the Amex so that any excess points can go to supplement the cost of the Costco membership.

Which would you choose as your daily driver? Any advice would be much appreciated!

Re: Help me choose a general spend card...

red259 — Tue, 11 Mar 2014 00:20:07 GMT

@celluloid17 wrote:
I'm in the garden and not wanting to apply for any new credit for a good long while, so I'm trying to maximize the cards I currently have to get the best returns.

I have a bunch of categories cards, but I'm trying to figure out which card would be the wisest to use for daily, non-categorized spending. I'm not a big spender at all and probably have too many credit options for someone with meager spending habits.

Currently, I have the following - all of which offer at least 1% back on general spending:

Sallie Mae: gas and groceries (I never exceed the $250 cap for 5% back)

U.S. Bank Cash +: cell phone bill (5%), fast food (5%), drug stores (2%)

Amex TrueEarnings: Costco and 2% back on restaurants - this card essentially has a $55 AF, which is the mandatory Costco membership

This leaves me with three cards I don't know how to really use regularly:

Chase Freedom: I've been using this card to pay insurance bills because I want to keep this TL open and active because it's my lowest APR and I get the 10% bonus on points at the end of the year for having a checking account, but needless to say, we're not talking about a lot of points.

Elan Financial Visa: It's my oldest and highest TL and it offers 1.25% back on spend, but no other frills. I would just assume close this card if it didn't have the most age and I had the ability to move the CL to another card, which I don't.

Discover It: This is a SD card for me unless a rotating category is particularly useful and not redundant.

I'm torn between Chase Freedom, Elan Financial (blah!) or Amex TrueEarnings for a daily general spend card. The Chase because of the UR points, the Elan for the 1.25% back, or the Amex so that any excess points can go to supplement the cost of the Costco membership.

Which would you choose as your daily driver? Any advice would be much appreciated!

I'd wait to see how the new amex cards look.

Re: Help me choose a general spend card...

Anonymous — Tue, 11 Mar 2014 00:29:56 GMT

Once you're out of the garden, you might consider a CapOne Quicksilver Visa. It's my general spend card and the 1.5% adds up way faster than I thought. Just a thought.

Re: Help me choose a general spend card...

celluloid17 — Tue, 11 Mar 2014 00:32:21 GMT

@Anonymous wrote:
Once you're out of the garden, you might consider a CapOne Quicksilver Visa. It's my general spend card and the 1.5% adds up way faster than I thought. Just a thought.

I wish I had either the CapOne Quicksilver or the Fidelity Visa or Amex, as those would be really good general spenders. Too bad we can't PC cards between different banks!

Re: Help me choose a general spend card...

mskarma — Tue, 11 Mar 2014 00:38:14 GMT

I use my discover and Amex True Earnings as my daily cards. I use discover when I shop online to get 5-10% back in the shopping portal and during some quarterly 5% back bonus categories.

i use the Amex TE card for pretty much everything else even my auto pay bills. I got about $480 cash back this month with my rewards check. 3% gas, 2% dining and travel & 1% on everything else.

Re: Help me choose a general spend card...

celluloid17 — Tue, 11 Mar 2014 00:40:58 GMT

@mskarma wrote:
i use the Amex TE card for pretty much everything else even my auto pay bills. I got about $480 cash back this month with my rewards check. 3% gas, 2% dining and travel & 1% on everything else.

That's an impressive return!!

Re: Help me choose a general spend card...

longtime_lurker — Tue, 11 Mar 2014 00:41:04 GMT

@celluloid17 wrote:
I'm in the garden and not wanting to apply for any new credit for a good long while, so I'm trying to maximize the cards I currently have to get the best returns.

I have a bunch of categories cards, but I'm trying to figure out which card would be the wisest to use for daily, non-categorized spending. I'm not a big spender at all and probably have too many credit options for someone with meager spending habits.

Currently, I have the following - all of which offer at least 1% back on general spending:

Sallie Mae: gas and groceries (I never exceed the $250 cap for 5% back)

U.S. Bank Cash +: cell phone bill (5%), fast food (5%), drug stores (2%)

Amex TrueEarnings: Costco and 2% back on restaurants - this card essentially has a $55 AF, which is the mandatory Costco membership

This leaves me with three cards I don't know how to really use regularly:

Chase Freedom: I've been using this card to pay insurance bills because I want to keep this TL open and active because it's my lowest APR and I get the 10% bonus on points at the end of the year for having a checking account, but needless to say, we're not talking about a lot of points.

Elan Financial Visa: It's my oldest and highest TL and it offers 1.25% back on spend, but no other frills. I would just assume close this card if it didn't have the most age and I had the ability to move the CL to another card, which I don't.

Discover It: This is a SD card for me unless a rotating category is particularly useful and not redundant.

I'm torn between Chase Freedom, Elan Financial (blah!) or Amex TrueEarnings for a daily general spend card. The Chase because of the UR points, the Elan for the 1.25% back, or the Amex so that any excess points can go to supplement the cost of the Costco membership.

Which would you choose as your daily driver? Any advice would be much appreciated!

Alright well given the information I have about your profile, I would go with the elan financial card. Unless you value UR at greater than 1cpp (and you don't have the CSP to at least get 1.25 on travel or higher (through the travel partners) so I'm not sure I'd follow for that value), your Chase Freedom is really only a 1.1% CB card, whereas Elan is a 1.25%.

Now, if you were looking in the future to get the CSP and redeem your UR for travel, your freedom at the most conservative (and guaranteed) estimate, would become a 1.375% CB card on travel redemption - so I would use the Freedom and stockpile UR points!

Good luck choosing!

Re: Help me choose a general spend card...

mskarma — Tue, 11 Mar 2014 00:50:42 GMT

@celluloid17 wrote:
@mskarma wrote:
i use the Amex TE card for pretty much everything else even my auto pay bills. I got about $480 cash back this month with my rewards check. 3% gas, 2% dining and travel & 1% on everything else.
That's an impressive return!!

lol, we spent a lot last year my boss got $1200 Back with his! But, I kinda double dip with amex I combined it with the executive membership so I technically get 5% back on gas and 3% on costco purchases. I usually earn enough with the executive membership rewards to at least cover the membership fee which is just fine by me.

Re: Help me choose a general spend card...

celluloid17 — Tue, 11 Mar 2014 01:05:04 GMT

@longtime_lurker wrote:

Alright well given the information I have about your profile, I would go with the elan financial card. Unless you value UR at greater than 1cpp (and you don't have the CSP to at least get 1.25 on travel or higher (through the travel partners) so I'm not sure I'd follow for that value), your Chase Freedom is really only a 1.1% CB card, whereas Elan is a 1.25%.

Now, if you were looking in the future to get the CSP and redeem your UR for travel, your freedom at the most conservative (and guaranteed) estimate, would become a 1.375% CB card on travel redemption - so I would use the Freedom and stockpile UR points!
Good luck choosing!

Thank you! This is exactly the thought process I was trying to weigh. I don't have a CSP and would probably like one in the future, but I'm not sure how soon it would be before I would have use for one. You've given me great food for thought!

Re: Help me choose a general spend card...

Anonymous — Tue, 11 Mar 2014 01:32:59 GMT

@mskarma wrote:
@celluloid17 wrote:
@mskarma wrote:
i use the Amex TE card for pretty much everything else even my auto pay bills. I got about $480 cash back this month with my rewards check. 3% gas, 2% dining and travel & 1% on everything else.
That's an impressive return!!
lol, we spent a lot last year my boss got $1200 Back with his! But, I kinda double dip with amex I combined it with the executive membership so I technically get 5% back on gas and 3% on costco purchases. I usually earn enough with the executive membership rewards to at least cover the membership fee which is just fine by me.

Unfortunately, the extra 2% for Executive members doesn't count toward things like gas or Cash Cards. I was very disappointed when I found out about the former. Otherwise I'd always have the Executive membership!

Re: Help me choose a general spend card...

longtime_lurker — Tue, 11 Mar 2014 01:34:49 GMT

@celluloid17 wrote:
@longtime_lurker wrote:
Alright well given the information I have about your profile, I would go with the elan financial card. Unless you value UR at greater than 1cpp (and you don't have the CSP to at least get 1.25 on travel or higher (through the travel partners) so I'm not sure I'd follow for that value), your Chase Freedom is really only a 1.1% CB card, whereas Elan is a 1.25%.
Now, if you were looking in the future to get the CSP and redeem your UR for travel, your freedom at the most conservative (and guaranteed) estimate, would become a 1.375% CB card on travel redemption - so I would use the Freedom and stockpile UR points!
Good luck choosing!
Thank you! This is exactly the thought process I was trying to weigh. I don't have a CSP and would probably like one in the future, but I'm not sure how soon it would be before I would have use for one. You've given me great food for thought!

No problem! - glad I could help you out! I forgot to mention how useful the 5% back can be, I usually can use a lot of the 5% categories, so if you do the math on those, it's 6.875% back on travel LOL.

The Freedom with the checking account bonus is how I'll be able to justify the annual fee. Just so you know, it's a painless transfer when you need to move UR points (if that's the route you take) when all the accounts are linked under the same login.

Re: Help me choose a general spend card...

celluloid17 — Tue, 11 Mar 2014 01:46:59 GMT

@longtime_lurker wrote:
@celluloid17 wrote:
@longtime_lurker wrote:
Alright well given the information I have about your profile, I would go with the elan financial card. Unless you value UR at greater than 1cpp (and you don't have the CSP to at least get 1.25 on travel or higher (through the travel partners) so I'm not sure I'd follow for that value), your Chase Freedom is really only a 1.1% CB card, whereas Elan is a 1.25%.
Now, if you were looking in the future to get the CSP and redeem your UR for travel, your freedom at the most conservative (and guaranteed) estimate, would become a 1.375% CB card on travel redemption - so I would use the Freedom and stockpile UR points!
Good luck choosing!
Thank you! This is exactly the thought process I was trying to weigh. I don't have a CSP and would probably like one in the future, but I'm not sure how soon it would be before I would have use for one. You've given me great food for thought!
No problem! - glad I could help you out! I forgot to mention how useful the 5% back can be, I usually can use a lot of the 5% categories, so if you do the math on those, it's 6.875% back on travel LOL.

The Freedom with the checking account bonus is how I'll be able to justify the annual fee. Just so you know, it's a painless transfer when you need to move UR points (if that's the route you take) when all the accounts are linked under the same login.

So it would seem there's greater potential for leveraging the Freedom points for use with CSP. I think that helps me make my decision, even though I'm forgoing more cash back with Elan. I just wish I had more use for the 5% categories with Freedom, but since I've got the Sallie Mae, I'm essentially covered year round on the categories I would normally find most useful like gas. Thank you again!

Re: Help me choose a general spend card...

longtime_lurker — Tue, 11 Mar 2014 01:54:40 GMT

@celluloid17 wrote:
@longtime_lurker wrote:
@celluloid17 wrote:
@longtime_lurker wrote:
Alright well given the information I have about your profile, I would go with the elan financial card. Unless you value UR at greater than 1cpp (and you don't have the CSP to at least get 1.25 on travel or higher (through the travel partners) so I'm not sure I'd follow for that value), your Chase Freedom is really only a 1.1% CB card, whereas Elan is a 1.25%.
Now, if you were looking in the future to get the CSP and redeem your UR for travel, your freedom at the most conservative (and guaranteed) estimate, would become a 1.375% CB card on travel redemption - so I would use the Freedom and stockpile UR points!
Good luck choosing!
Thank you! This is exactly the thought process I was trying to weigh. I don't have a CSP and would probably like one in the future, but I'm not sure how soon it would be before I would have use for one. You've given me great food for thought!
No problem! - glad I could help you out! I forgot to mention how useful the 5% back can be, I usually can use a lot of the 5% categories, so if you do the math on those, it's 6.875% back on travel LOL.

The Freedom with the checking account bonus is how I'll be able to justify the annual fee. Just so you know, it's a painless transfer when you need to move UR points (if that's the route you take) when all the accounts are linked under the same login.
So it would seem there's greater potential for leveraging the Freedom points for use with CSP. I think that helps me make my decision, even though I'm forgoing more cash back with Elan. I just wish I had more use for the 5% categories with Freedom, but since I've got the Sallie Mae, I'm essentially covered year round on the categories I would normally find most useful like gas. Thank you again!

There really is - there a reason the Chase "trifecta" is checking, freedom, and CSP .I just got my Sallie Mae and I love it, but because I value UR at >1cpp I use it during the rotating categories. That being said, if I could only have 1 rewards card it would probably be sallie mae, it's such a great card! Best of luck to you!

Re: Help me choose a general spend card...

grinlikechelsea — Tue, 11 Mar 2014 01:56:55 GMT

Hm. I'd say either the Freedom (UR points are solid) or Discover (good cashback plus free FICO with statement).

Re: Help me choose a general spend card...

longtime_lurker — Tue, 11 Mar 2014 02:00:10 GMT

@grinlikechelsea wrote:
Hm. I'd say either the Freedom (UR points are solid) or Discover (good cashback plus free FICO with statement).

What a true hero, still recommending Chase...

Re: Help me choose a general spend card...

celluloid17 — Tue, 11 Mar 2014 02:11:33 GMT

@grinlikechelsea wrote:
Hm. I'd say either the Freedom (UR points are solid) or Discover (good cashback plus free FICO with statement).

Thank you for another vote for Chase! I like Discover a whole lot and wish it had different rotating categories than Freedom, but the two seem to overlap quite a bit. I do really appreciate the fact that they provide a TU Fico score...that's a real plus!

Re: Help me choose a general spend card...

mskarma — Tue, 11 Mar 2014 02:21:42 GMT

@Anonymous wrote:
@mskarma wrote:
@celluloid17 wrote:
@mskarma wrote:
i use the Amex TE card for pretty much everything else even my auto pay bills. I got about $480 cash back this month with my rewards check. 3% gas, 2% dining and travel & 1% on everything else.
That's an impressive return!!
lol, we spent a lot last year my boss got $1200 Back with his! But, I kinda double dip with amex I combined it with the executive membership so I technically get 5% back on gas and 3% on costco purchases. I usually earn enough with the executive membership rewards to at least cover the membership fee which is just fine by me.
Unfortunately, the extra 2% for Executive members doesn't count toward things like gas or Cash Cards. I was very disappointed when I found out about the former. Otherwise I'd always have the Executive membership!

That's right, I forgot it didn't count towards gas

I can't wait to see what benefits the new Amex "everyday" card will offer.

Re: Help me choose a general spend card...

grinlikechelsea — Tue, 11 Mar 2014 03:20:07 GMT

@longtime_lurker wrote:
@grinlikechelsea wrote:
Hm. I'd say either the Freedom (UR points are solid) or Discover (good cashback plus free FICO with statement).
What a true hero, still recommending Chase...

<3

I still like Chase haha. They were justified for taking AA against me.

Re: Help me choose a general spend card...

Anonymous — Tue, 11 Mar 2014 03:26:57 GMT

@grinlikechelsea wrote:
@longtime_lurker wrote:
@grinlikechelsea wrote:
Hm. I'd say either the Freedom (UR points are solid) or Discover (good cashback plus free FICO with statement).
What a true hero, still recommending Chase...

<3
I still like Chase haha. They were justified for taking AA against me.

grinlikechelsea - I commend you greatly on your attitude and postive outlook through all of that.

OP- Take a look at Huntington National Bank's "Voice" card. It gives you 3% back on one category each quarter and one of the few that still lets you choose utilities (gas, electric, water and most cable services). It's 1% back on everything else. And although folks like to thrash, bash, kick and curse CapOne, 1.5% on everything and being able to redeem at any time is hard to beat.

Re: Help me choose a general spend card...

grinlikechelsea — Tue, 11 Mar 2014 03:39:08 GMT

@Anonymous wrote:
@grinlikechelsea wrote:
@longtime_lurker wrote:
@grinlikechelsea wrote:
Hm. I'd say either the Freedom (UR points are solid) or Discover (good cashback plus free FICO with statement).
What a true hero, still recommending Chase...

<3
I still like Chase haha. They were justified for taking AA against me.
grinlikechelsea - I commend you greatly on your attitude and postive outlook through all of that.

OP- Take a look at Huntington National Bank's "Voice" card. It gives you 3% back on one category each quarter and one of the few that still lets you choose utilities (gas, electric, water and most cable services). It's 1% back on everything else. And although folks like to thrash, bash, kick and curse CapOne, 1.5% on everything and being able to redeem at any time is hard to beat.

Thank you. I know Chase is trying to protect themselves and I respect their decision. I am very grateful they let me keep my accounts as well. In the end, I had a fairly positive outcome.

I have the Voice, and I can confirm that utilities is an option. I use mine for drug stores, which is handy as well. They have a bunch of different categories, but you can only change every quarter (except the first 30 days you have the card). The website is clunky, but it gets the job done.

Also, I know you don't have this card, but the Fidelity AmEx is my go to card, and my Capital One Venture is my backup if AmEx isn't accepted. I like both of those cards and I highly recommend them!