Credit Cards

[offrdmania]

My credit score is well over 850. The only card I ever use is an old Chase rewards card that gives 3% back on all purchases. I use it to buy my watches and the 3% back is a nice bonus. They haven’t offered that card is years.

[2th_doc]

Amex Platinum. I run all my purchases and bills (whatever bills allow charge card to pay) through my Amex Platinum to rack up some serious points. I recently got the Amex Delta Skymiles Platinum to take advantage of the 100k skymiles offer.


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[brandrea]

Canadian so I’m sure my choice of card is irrelevant, however I use the card that accumulates the most miles and I sell them to a third party for cash

[spurwar]

Had AMEX gold forever and it serves me well for my needs. Also tends to pay itself off with travel and dining benefits.

[thedak]

Chase Sapphire Reserve

[CashGap]

Originally Posted by EEpro

It's tough to beat $0 fee and 2% cash back on everything.

Pretty much every card mentioned beats that return handily.

[GoingPlaces]

Originally Posted by offrdmania

My credit score is well over 850. The only card I ever use is an old Chase rewards card that gives 3% back on all purchases. I use it to buy my watches and the 3% back is a nice bonus. They haven’t offered that card is years.

Wow, impressive. I thought 850 was the highest but evidently not.

[CashGap]

AMX Platinum and AMX Business Platinum for the perks and 5x membership rewards on air fare.

Citi Prestige for 5x points on hotels and (I think) 3x on dining.

AMX Blue Business Plus for 2x everyday spending up to $50k/year.

I value AMX Membership Rewards at 2 cents each, so on an airfare, I’m getting 10 cents per dollar, and 4 cents per dollar on everyday spend. I usually get FAR More than 2 cents each value from them, for example, flying Delta One from LAX to HND for 70,000 Virgin Atlantic miles that I got by transferring 50,000 MR points. Probably a $5,000 ticket, so I got 10 cents per point value. And earned those points by spending a mere $10,000 on other airfare.

AMX Amazon Business for 5x points on Amazon purchases, again a 10 cent per dollar reward.

The three Chase Ink Business cards mainly for the bonuses, but also for good multiples on internet, cellphone, streaming services.

Others, but those are my go tos.

I hate to see the “cash back” card commercials. They toss the person a couple of pennies when they could be getting BIG returns... and seeing the world the right way.

[RHIII]

My go to card is my Debit card.

This thread makes me want to slam my head in my car door.

Now I’ve seen it all on TRF.


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[CashGap]

Originally Posted by RHIII

My go to card is my Debit card.

This thread makes me want to slam my head in my car door.

Now I’ve seen it all on TRF.

Seriously... why?

I’m just back from my fourth trip around the world in business class in the past four years, with all airfare paid by points I earn by swiping the correct card for the transaction. Plus many other trips that were paid with points for family travel.

I can’t see the downside. But that aside... debit card protections are so limited, I could never risk it for anything but small transactions.

[Saltzy]

Originally Posted by RHIII

My go to card is my Debit card.

This thread makes me want to slam my head in my car door.

Now I’ve seen it all on TRF.


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Urgh, why?!?

The world is basically just looking to give stuff away to people with good credit and disposable income these days.

I would understand if was only a few bucks a year but you can legitimatly earn THOUSANDS of dollars worth of free travel and perks just by simply using the right cards.

I just reserved a convertible Mustang for 4 days for a trip I'm going on next weekend a few minutes ago that cost me $0. That one booking alone just saved me $300, and I am constantly making similar reservations. My flights each way were also free using points.

I realize I'm kinda OCD on this topic, but I don't care if I buy a freaking chocolate bar these days, it's going on my card so I can get the points.

[RHIII]

Originally Posted by CashGap

Seriously... why?



I’m just back from my fourth trip around the world in business class in the past four years, with all airfare paid by points I earn by swiping the correct card for the transaction. Plus many other trips that were paid with points for family travel.



I can’t see the downside. But that aside... debit card protections are so limited, I could never risk it for anything but small transactions.

Actually, debit card protections are the same as credit cards — all that mumbo jumbo is purely a myth. Have had that very disxusaion with my bank.

I have lived and traveled all over the world as well. And we travel quite a bit. Not the point. I am simply not a fan of credit cards or debt - all credit cards represent is opportunity for people to spend money they don’t have. End of story. And the ‘points’ or perks and trips or whatever end up costing 10x what one would spend by writing a check. For example - I can buy a 10k watch and get 1% (most cards) cash back. Cash is king.

And talking credit scores? Sheesh. All that means is that an individual has (or has had) a lot of debt - and pays their bills.

I have no desire to start a debate on TRF. To each their own. My opinion.

Cheers.


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[Saltzy]

So not true, but its clear that no one is gonna change your mind.

For one, just using my CSR for travel means its insured if I cant go due to illness. When I rent a car, its covered for liability up to $75k. There is 0% fees for international travel. I could name a bunch of other benefits as well.

You are comparing a debit card to premium travel cards with annual fees specifically designed for frequent travelers and saying its 6 of one, half a dozen of the other.

That could not be any farther from being accurate.

[EEpro]

Originally Posted by CashGap

Pretty much every card mentioned beats that return handily.

That depends on a number of use factors. Nerdwallet has all of this data and card comparisons so people can make informed decisions based on their personal situation.

[037]

Originally Posted by RHIII

And talking credit scores? Sheesh. All that means is that an individual has (or has had) a lot of debt - and pays their bills.

Yup. My score dropped as soon as I paid everything off a few years ago. It was at that moment I realized the "score" was a scam at best. One has to be in debt for a perfect score and it drops once you're free and clear from the banks, despite once being at an 850 and historically no less responsible.

[seand442]

AMEX Platinum and Gold card. Travel, dining, groceries, and some nice travel benefits. Lounges are pretty sweet too. Also have a couple other ones with minimal fees that usually pay for themselves.

[gtnator]

Originally Posted by offrdmania

My credit score is well over 850. The only card I ever use is an old Chase rewards card that gives 3% back on all purchases. I use it to buy my watches and the 3% back is a nice bonus. They haven’t offered that card is years.

What’s it called ?


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[offrdmania]

Originally Posted by GoingPlaces

Wow, impressive. I thought 850 was the highest but evidently not.

900 is the highest but anything over 850 is irrelevant. FICO goes up to 850 but some others go up to 900. On FICO I am an 844 right now. Experian I am at 862. It fluctuates depending on my activity. I use credit often and then pay off in the first billing cycle. It’s constant activity with pay offs that gets your score high along with a good debt to income ratio. Some debt is good.

[offrdmania]

Originally Posted by gtnator

What’s it called ?


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I dont remember what it was originally called when I first got it quite a few years back but back then there was no cap on spending. A couple replacement cards later they sent me the Freedom with 3% up to $20,000 which it still is today. It doesnt revert to the 1.5% after the first year because I think im still grandfathered into that original cards agreement.

[pickettt]

Originally Posted by 037

Yup. My score dropped as soon as I paid everything off a few years ago. It was at that moment I realized the "score" was a scam at best. One has to be in debt for a perfect score and it drops once you're free and clear from the banks, despite once being at an 850 and historically no less responsible.

Yep. That's been my experience too...dropped immediately after I cleared all my debt.

[Andad]

Is this a whose biggest thread?

What is a credit score?

[crew]

Originally Posted by offrdmania

900 is the highest but anything over 850 is irrelevant. FICO goes up to 850 but some others go up to 900. On FICO I am an 844 right now. Experian I am at 862. It fluctuates depending on my activity. I use credit often and then pay off in the first billing cycle. It’s constant activity with pay offs that gets your score high along with a good debt to income ratio. Some debt is good.

Respectfully, I have to pushback on this. I’m not sure what the score is that above that number it’s irrelevant, but it’s not 850. Maybe it’s 700 for Equifax and TransUnion, perhaps higher for Experian.
I’ve heard of perfect scores being achieved but never been there myself. Probably because I’m retired now (no earned income) and I sometimes play the CC “game” to capture bonus points (which lowers my credit age and increases my credit inquiries).
For me the bottom line is my score is pretty much a non-event. I don’t ever expect to take out a loan, let alone a mortgage, again in my life. If I do (think 0% car loan) I’m sure my score will qualify me for the “best rate”.
YMMV.

[Saltzy]

Anything over 770 will qualify you for the best rates and pretty much ensure you get approved for anything you apply for.

[jaisonline]

Good summary. He did create an update on the Uber card.

https://youtu.be/zhAkVMDRiEg

Originally Posted by Saltzy

I'm gonna make an assumption that people on this forum have an average credit rating at or above 800, so as a credit card hobbyist I am curious to know what the spectrum is on people's preferred credit card of choice here.

For the last few years, for me personally if wasn't really close. I have been a pretty staunch defender that the card with the best bang for the buck is the Chase Sapphire Reserve card, but now that they raised the annual fee to $550 I'm not so sure that is the case anymore, and am seriously considering moving over to the Amex universe, specifically the Platinum card.

What is your guys go to card for personal spending?

[Cesium137]

Originally Posted by patrickjb

Amex Platinum for me, for literally everything.

It’s certainly gone downhill in terms of rewards over the years, but the annual fees pay for itself.

Exactly this

[Saltzy]

Originally Posted by jaisonline

Good summary. He did create an update on the Uber card.

https://youtu.be/zhAkVMDRiEg

I know someone here said they signed up for and like the Apple card, but honestly, this guy is spot on.

It's hot garbage when you compare it to a lot of other cards out there.

As a rule of thumb, if you want zero perks or sign on bonuses and no annual fees, 2% cash back is the absolute worst you should ever get. 2% with any sort of strings or fees is no bueno.

Assuming you are OK with an annual fee, you should get at least 2% cash back (or more in the exchange value of points assuming you plan on cashing them in for travel), plus the additional overall benefits of the card on every purchase.

Again, as this guy says, if you just want simple and easy that Citi Double Rewards card that gives a flat 2% cash back with no fees is about the best you are gonna do these days.

[beshannon]

I love all the wildly conflicting info in this thread about credit scores and yet some people think it still matters?

[dxbtousa]

JPM reserve

[Saltzy]

Originally Posted by dxbtousa

JPM reserve

You are my hero good sir.

[dxbtousa]

Originally Posted by Saltzy

You are my hero good sir.

HMU in the DM's for a supplementary.