Question on Rewards Cards

[jefftca925]

Ah... that's the 64 million dollar question.  I would recommend not applying unless your FICO is above 700 (preferably 720), light on the inquiries and utilization.  Credit history should be at least a year... longer is much better.  If you have deposit accounts with them also helps out a lot.

[clocktick]

I'm surprised I'm saying this but I would also have to choose Cap One - it really is hassle free.  I just got a statement credit this month but in the previous couple of years I received multiple gift cards of my choice and even used some for Christmas presents.

[veracious]

Thanks to all that replied.

Let's see.......Chase Freedom, Discover More, and Cap One.

What  to do.....what  to do......

Man, I'm getting dizzy!!    I've got to sort this out.before I   do anything.

[JayRizzo]

I couldn't keep my lips zipped any longer... the silence was killing me, so here's another shameless attempt to win one for the Gipper... well, at least the Capper.

Review link for Cap-1 Rewards (Good/Excellent credit): 

http://www.dailymarkets.com/personal-finance/2011/01/19/capital-one-no-hassle-cash-rewards-excellent...

[Anonymous]

---

@JayRizzo wrote:

I couldn't keep my lips zipped any longer... the silence was killing me, so here's another shameless attempt to win one for the Gipper... well, at least the Capper.

Review link for Cap-1 Rewards (Good/Excellent credit): 

http://www.dailymarkets.com/personal-finance/2011/01/19/capital-one-no-hassle-cash-rewards-excellent...

---

Thanks for posting this. I do think that Cap 1 tends to get a bad rap, mostly because they started out strictly catering to the subprime market and have yet to fully shed that image. The only downside to the card that I have -- the Average credit version -- is that it has an AF and a small CL. These issues make it a subprime version of the  Excellent credit version, which you have posted link for. The Excellent version has no AF and one would assume better CLs. All in all, it's a pretty decent card. And for those of us who are rebuilding, the subprime version is a really decent card.

[jefftca925]

---

@Anonymous wrote:

---

@JayRizzo wrote:

I couldn't keep my lips zipped any longer... the silence was killing me, so here's another shameless attempt to win one for the Gipper... well, at least the Capper.

Review link for Cap-1 Rewards (Good/Excellent credit): 

http://www.dailymarkets.com/personal-finance/2011/01/19/capital-one-no-hassle-cash-rewards-excellent-credit-review/

---

Thanks for posting this. I do think that Cap 1 tends to get a bad rap, mostly because they started out strictly catering to the subprime market and have yet to fully shed that image. The only downside to the card that I have -- the Average credit version -- is that it has an AF and a small CL. These issues make it a subprime version of the  Excellent credit version, which you have posted link for. The Excellent version has no AF and one would assume better CLs. All in all, it's a pretty decent card. And for those of us who are rebuilding, the subprime version is a really decent card.

---

Remember though... Cap One pulls ALL 3 CB reports and can be difficult to recon.  Their "Excellent Credit" cards should not be applied for unless your reports are clean and you have established history.

[Anonymous]

Now that you've narrowed it down to 3, you can narrow the field by eliminating Discover if you don't want hassle. I was one of their earliest cardholders and for years thought they were the best. I closed my account over a year ago, however, because I was always having to check that they gave me the correct amount back. Sometimes I got nothing at all, and they weren't helpful.

[BluMoon]

Veracious,

Before you do anything, go to this site:  http://www.nerdwallet.com/credit-cards and get an independent opinion.

It's one of, if not THE best sites to evaluate what type of credit card would be best for you.  You answer a couple of questions and, if you are looking for rewards, select the type, (cash, for instance) and not only will it show you the best for you, in order top down, but it will show you how much your average rewards would be annually.

Yes, I've got a couple of the cards mentioned also, and they are good, but they're not the best rewards cards out there for me - I charge just about everything.  I use them primarily for the 5% items of the quarter, but I use other cards for other things.  Go to the website and get an independent  and unbiased opinion.

[Travis-84]

I'm supprised nobody has meantioned penfed yet.

5% cash back on groceries, and 1% on everything else.

Low interest rate as well.

What is sweet about penfed is the rewards are applied automatically on each statement.  If you spend 100.00 in gas in a month, then you will receive a bill for 95.00.  The 5% cash back is already applied.  I think its a great card, but you need to have great credit to get it. 

[veracious]

---

@BluMoon wrote:

Veracious,

Before you do anything, go to this site:  http://www.nerdwallet.com/credit-cards and get an independent opinion.

It's one of, if not THE best sites to evaluate what type of credit card would be best for you.  You answer a couple of questions and, if you are looking for rewards, select the type, (cash, for instance) and not only will it show you the best for you, in order top down, but it will show you how much your average rewards would be annually.

Yes, I've got a couple of the cards mentioned also, and they are good, but they're not the best rewards cards out there for me - I charge just about everything.  I use them primarily for the 5% items of the quarter, but I use other cards for other things.  Go to the website and get an independent  and unbiased opinion.

---

Thanks,  BluMoon.

That's a great site.     I think I'll be able to make a sound decision based on different variables.