@Aim_High wrote:
@Anonymous wrote:
@NoMoreE46 wrote:Given that you are eligible for the additional 0.5% from PenFed, would you rather have their Power Cash Rewards card or the Paypal MC?
Unless you can waive the $500 deposit for PenFed or use them as your primary banking. Tying down that $500 for the 2% isn't the best idea.
That's a common misunderstanding. There is no requirement to tie up $500 to get the 2% cash back without a fee.
- PenFed does not require you to deposit $500 to get 2% rewards. They only require you to open a checking account to get 2% on the credit card (if you are not a veteran.)
- PenFed does not require you to deposit $500 in your account to waive the $10 monthly checking fee. They require you to (either): (a) have an average daily balance of $500 or (b) have a $500 monthly direct deposit. Not both.
- If you elect to leave the money deposited in checking, PenFed pays a much-higher-than-average interest rate on your deposit than you would earn in most banks. (0.20% APR compared to an average of 0.05 or less in most banks.)
- However, PenFed does not require you to deposit $500 in your checking account and leave it there inaccessible. If you go the $500 DD route to waive the monthly fee, you can still move almost all of it back out monthly to another account, spend it, or transfer it within PenFed to their high-yield premium savings which currently earns a respectable 1.25% interest. So you can do with it what you like; you just need $500 coming in monthly.
^^^ this, you can split your paycheck and direct deposit $500 into the PenFed account. You can then transfer it out wherever you'd like. The other route is to have $500 sitting in it.
@wasCB14 wrote:
@M_Smart007 wrote:
@MacCreed wrote:Neither would be my choice but if I had to choose it'd be PPMC. Don't want to deal with PF.
Should make a poll.
No brainer ...
My Penfed PCR is $45,000 >>Date opened Oct 29, 2019
My Ebay PayPal MC is $10K after 4 years >> Date opened Mar 27, 2016
Citi DC #1 is $10,000 >> Date opened May 04, 2018
Citi DC#2 is $17,600 >> Date opened May 02, 2018 (Combined Simplicty CL and closed)
They all have a purpose, but Penfed top's the list.
What's the purpose of two DCs? I only have one and it seems pretty useless!
(As to how I got one, I downgraded Prestige when I got CSR instead of closing it. I still had some stuff under extended warranty.)
@wasCB14, When you have a BT or special APR rate offer on one, you can still us the other one as a normal card.
I purchase many rare collectible coins at shows, and many other cards do not give me 2% cash back.
I can sometimes purchase $20-200K at a weekend show or auction.
Some are for personal collection, some are for my Corporation. (I am a registered coin dealer)
Usually do not need warranty on Coins
So I utilize PCR, DC's, NFCU Flagship (2%)
Chase CSR, Chase INK Bus. and Amex Plat bus.
And if needed, BoA Cash Rewards, Schwab Investor and HSBC Premier, HSBC Cash Rewards.
Also Use Amex Hilton and Chase Marriott for Hotel stays / Restaurants.
@M_Smart007 wrote:
@wasCB14 wrote:What's the purpose of two DCs? I only have one and it seems pretty useless!
I purchase many rare collectible coins at shows, and many other cards do not give me 2% cash back.
I can sometimes purchase $20-200K at a weekend show or auction.
Another excellent example of how different credit profiles on My Fico may have unique needs or circumstances, so that none of us can say definitively what decisions or cards are best for each other in a given scenario! And how applying another member's decisions about credit to our own lives may be completely inappropriate without our own personal analysis. 
YMMV.
@Aim_High wrote:
@M_Smart007 wrote:
@wasCB14 wrote:What's the purpose of two DCs? I only have one and it seems pretty useless!
I purchase many rare collectible coins at shows, and many other cards do not give me 2% cash back.
I can sometimes purchase $20-200K at a weekend show or auction.
Another excellent example of how different credit profiles on My Fico may have unique needs or circumstances, so that none of us can say definitively what decisions or cards are best for each other in a given scenario! And how applying another member's decisions about credit to our own lives may be completely inappropriate without our own personal analysis.
Easy inventory financing makes sense...especially if you want to get a better return on savings than a checking account will provide.
I got a 0% offer on my DC a few months ago, but it was only valid for 4 months...hardly seemed worth departing from a rewards focus...especially when WWFCR gives me 0% for another ~13 months and 1.75% cash. Though I'm not spending $200k in a weekend.
I was a youth ANA member a few years ago and still have most of my collection. Mostly 19th century US. Unfortunately the coins I liked the most that could draw me back are ancient ones with currently very high prices that kind of take the fun out of it.