What is the best credit card to have as far as rewards go

[Elmira Nancy]

I pay off my balance every month and charge quite a bit, but I get nothing in return for the credit card I currently use. I'm thinking of switching and I get offers in the mail everyday. I need anyone with good credit to let me know what you think is the best card to have -reward wise. What are you getting with your card use?

[clydewolf]

Elmira Nancy,

What is the best card may depend on what you want, air miles, points to trade for cash, cash credited to your account, etc.

Here are 2 good card if you qualify to join the CU: https://www.penfed.org/productsAndRa...s/overview.asp

[Darren]

I have the Citi Diamond Preferred Card, which earns 1 point for every dollar spent. Points can be redeemed for prizes that are worth various amounts of points. I usually redeem 10,000 points for a $100 gift card, which works out to be a 10% return.

Here are some links to reward cards:

http://www.creditcardguide.com/rewar...dit-cards.html
http://www.creditcards.com/reward.php
http://www.cardratings.com/rewardpoints.html

[pochax]

I usually redeem 10,000 points for a $100 gift card, which works out to be a 10% return.

our calculators do not agree...mine would suggest you are getting a 1% return.

[Darren]

You're right pochax, it's actually a 1% return. It was a miscalculation on my part.

But back to the main topic. I think the main thing to keep in mind with cards are to pay off the full balance each month, which Elmira is currently doing.

[matt]

I have a Chase Freedom (now becoming Chase Sapphire) card. I get 3% back for grocery store, gas, fast food, and maybe something else and 1% for everything else. I don't ever buy fast food but we do buy groceries and gas. I figure it comes out to somewhere around 1.5 to 2% back (never actually sat down and figured it out).

you can redeem points for giftcards but you can also just have them send you a check for money (in $50 increments), which I then use to help pay off my balance for that month. It's not much but it's better than getting nothing, if you are going to use a credit card you might as well get some additional benefits from it.

[garyatk]

I also have the the Chase Freedom card. We wait until our rewards total $200, and then cash them in. We get a $250 chech for $200 in rewards earned. Not a bad deal!

[matt]

I also have the the Chase Freedom card. We wait until our rewards total $200, and then cash them in. We get a $250 chech for $200 in rewards earned. Not a bad deal!

We got that one once, but it doesn't seem to be available anymore

[clydewolf]

Here is a link to the Chase Freedom card: http://www.chasecreditcards.com/no-a....asp?pagenum=1

[tman127]

I have recently been convicted about not using a credit card even though I pay off the balances every month. Here are the two reasons for this:

1. A person with a credit card tends to spend more $ than someone with cash.
2. With the grace period, you are paying for things you've already enjoyed, not your current purchases.

[pochax]

1. A person with a credit card tends to spend more $ than someone with cash.

Depends on the person - when i look through my credit card statement, there is nothing i found that i wouldn't have otherwise spent cash on. others on this forum have attested to this as well.

2. With the grace period, you are paying for things you've already enjoyed, not your current purchases.

This is merely an accounting issue. if you pay on a credit card that you know you will be paying the balance off monthly, it is as if you paid in cash....but you get the rewards as well with the CC. Now with more debit cards giving rewards (although i personally have yet to see an offer in my mailbox), this is becoming a nonissue.

To each his own....God bless you with your decision!

[thewisebuck]

The most "rewarding" thing about credit cards in my life, is not having them! I do have debit cards for convenience though. Just a different angle.

[b4b8]

My opinion is go for the one that gives you more perks like cashbacks.