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Every three months, I ll look at two specific categories and analyze the best cards in each group. In this first installment, I m giving awards for the Best Cash Back Credit Card and the Best Travel Rewards Credit Card in America.
The category winner isn t chosen according to its popularity. The winner is the card that scores the highest number of points according to a unique formula that I designed. The formula all travel and cruise center considers 41 factors. It gives each card a benefits/rewards score and then subtracts the costs score.
For each card that s in the competition, I ll get knee-deep in the cardholder agreement all travel and cruise center s details, terms and conditions, and rewards programs. The fine print is never easy to read but that s where the card s true value is revealed. Oftentimes, when you look at the details, the card s costs outweigh its highly touted rewards.
Using my formula, all travel and cruise center the perfect card gets a score of 100. There are certainly no perfect cards out there. But the final score for a card can tell you two things: how close a card is to perfection and how it compares to other cards in the same category.
A consumer advocate, Beverly all travel and cruise center focuses on credit card issues and provides insight about current news that affects the credit card industry and consumers. She's a nationally recognized expert on credit all travel and cruise center card issues and is also the co-author of The Complete Idiot's Guide to Person-to-Person Lending. Visit Beverly at BeverlyHarzog.com .
After years with a Discover Open Road card, I ve learned my cash back points are capped after the first $250 each month. What a letdown! I earn double points for automotive related purchases: gasoline, oil, changes, tires, repairs; and 1% for all others. Occasionally there are offers of double points in other catagories. Usually just 1% cash back, no annual fee. Interest rate is 11.99%, despite my excellent credit all travel and cruise center rating and exemplary payment history. Are there similar monthly limits on the cards you ve reviewed here? I m shopping.
I agree that the Discover card s cap is disappointing. The Chase Freedom Visa that won for best cash back credit card in America caps the 5% quarterly rotating categories at $1,500. That s not bad! Plus, you get 1% cash back on all other purchase and there are no limits to what you can earn at 1%. Since you have excellent credit, you might qualify for a low interest rate on this card.
Mary Do you have Capital One Spark Miles (or Miles Select) for Business? I was focusing only on consumer cards for this competition. But I think the new Cap One Spark cards are quite good. Love it that they have no foreign transaction fees!
Quite frankly the only CC we use is Sam.s Club Discover. . After almost 6 years being rewarded roughly $3500.total. My cash back check received in February of each year for the previous calendar year. The smallest check received was just under $400. We use it to pay for everything we can, which amounts to nearly 90 percent of our discretionary all travel and cruise center spending. About March of each year our introductory rate kicks in 2 percent all travel and cruise center on EVERYTHING we buy, providing merchant accepts Discover ( 99 percent do). The trick is, to make it profitable like we have, pay your monthly bill IN FULL AND ON TIME.
I want to get the Chase Freedom Visa, but want to know more details before signing up about the way earning points works. Is it from only certain grocery stores, gas stations and drugstores that you can earn points? Are prescriptions included all travel and cruise center in your drugstore purchases? Do non-food items, all travel and cruise center such as dog food, clothing items, prescriptions, etc count from grocery stores such as Target or Walmart? all travel and cruise center Are places like McDonalds and locally owned barbeque eatteries counted in dining? And lastly, does Chase Freedom Visa have charges or fees for purchases made while travelling out of the country, and do the points or rewards ever expire?
I don t believe that prescriptions are included in the savings. I do know that sometimes an item won t be eligible (particularly the category discounts) if the merchant doesn t code the sale correctly. But, in general, the other items you mention should qualify. But call and ask. That s really the best strategy when you re asking about specific merchants.
I have one card for all my online purchases, and two major cards I used for my living expanses (gas, groceries, restaurants, etc.), namely: Discover card and Citizens MasterCard. They have 5% cashback on rotating all travel and cruise center categories and a high enough cap that it covers us. I particularly like that Discover redemption got me $100 gift card for $80. That s an instant 20% saving!
Currently I m using Citibank Cash Back. Once the accumulated cash back reach $50, it will be credited into my credit card s account. all travel and cruise center Based on my monthly credit card expenses, I m constantly received $50 in every 2 months. Definitely I will not go back to bonus or rewards all travel and cruise center type credit card.
I was disapointed to not see AMEX Blue Cash, I get 5% year around at: gas stations, all travel and cruise center drug stores and groceries. 1.5% everywhere else with no cap. Lower interest rate and option to carry balances and NO annual fee. I travel frequently and find very few places that don t take AMEX. I also like the option of taking cash credits on my monthly statement whenever I want instead of waiting for anniversary date.
AmEx changed the Blue Cash brand last spring. The new Blue Cash Preferred offers 6 percent at grocery stores, 3 percent on gas and department stores and 1 percent on everything else. There s also a Blue Cash Everyday that offers good rewards without an annual fee.
I just applied for a Capital One Rewards Venture Card. I have excellant credit and the person I talked to when applying by phone and on the form stated that interest rates were 11.9%-19.9% based on your credit. I told them I was not interested if I was not going to get the best rate. I was told it should be no problem. After she took the application all travel and cruise center over the phone I was instantly approve for $5K and when I asked her what my rate will be she said I would be notified by mail. Three day later I got a letter saying I was approved for $5K and my rate would be 19.9%. They also under rated my reported FICA score, because I looked at it online with thier report from Equifax and it was deflated by 37 points to bring it only into the Great catagory instead on my Excellant catagory. They verified they used Equifax credit on the form they mailed to me. This is what I refer to as a bate and switch program. I called them and told them no thanks and do not send the card. I preceded to check the BBB and sure enough they have over 7400 complaints all travel and cruise center in 36 months with only 2000+ settled. I filed a complaint with the BBB and didn t get a possitive results. This company appears to be bad news all around.
Randy You re wise to pay close attention to your interest rate. I can understand why you were surprised to get the highest rate. FICO scores do fluctuate daily but 37 points seems like a lot. Have you checked your credit report from Equifax? I d check it just to see if there s an error or if something new is on your report that would cause your score to drop.
Beverly: I could not get fico score, they said they couldn t give one because I didn t owe or borrow any money for the last six years and always paid credit cards in full and before they were due. Fico dosn t mean a thing it is useless. My credit is perfect and they can t give me a score?, Bull Sh
Gene-In order to have a credit score, you have to be actively using credit. Since it s been six years since you ve actually borrowed money, there isn t a score to generate. I understand your frustration. It sounds like you ve done a good job with your finances. all travel and cruise center If you d like to get your score going again, get a credit card (a secured card if you re having problems getting an unsecured card) and give it six months. Use the card for purchases to show you can manage credit and pay if off monthly to avoid interest.
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