Question
Hi, I am sure this has been asked many times before, but since new cards and plans come out almost every month, I thought I'd ask again:
given almost 70% of my expenses go to Airtickets and rest go to Hotel stay, I was wondering if someone can recommend me the best card available out there for cash rewards? I currently own a Chase Platinum, but finding it may not be the best choice for me given it's low return....
Answer
Approximately how much do your spend on the card annually? Do you want only cash in the form of a check, or would a credit on the card be just as valuable? I ask this second question because some cards give rebates in the form of credit that can be redeemed only by purchasing (for example) an airline ticket. I would consider this to be the same as cash, but your situation may be different.
Answer
Mia, thanks for the prompt reply. On average I spend about 15K to 20K on flights and 8k to 10 K on hotel, so totalling around 25K to 35K a year.
i'd prefer credit back to the card, but if coupons have a higher % in value, I don't mind that either.
Answer
If you're a costco member, you can snag a costco cash rewards card. It gives you 1% on most purchase, 2% on travel and 3% on dining.
with 25k in travel a year, that would net you $500 back. rebates come in a check that can be cashed only at costco.
If you're not a member, costco membership is $50, but IMHO worth it.
Answer
If you're a costco member, you can snag a costco cash rewards card. It gives you 1% on most purchase, 2% on travel and 3% on dining.
with 25k in travel a year, that would net you $500 back. rebates come in a check that can be cashed only at costco.
If you're not a member, costco membership is $50, but IMHO worth it.
This was going to be my suggestion as well. I just picked up my $260 cash rebate from Costco this past weekend. And that's just from non-business use.
Answer
Another good alternative, besides the Costco AmEx is the Chase BP Rewards Visa. It also earns 2% on travel and 1% on "other" spending. It only earns 2% at restaurants (not 3%), but it earns 5% at BP and Amoco gas stations. Also, you'll earn *double* rewards for the first 60 days.
Plus, the Chase BP Rewards Visa will pay you *cash* in as little as $25 increments. So your earnings are good anywhere, not just at Costco.
Your spending in other categories (like gas, grocery, etc.) may be enough to make another card like AmEx Blue Cash a compelling option.
You might want to just take a minute to plug your spending profile into the rewards calculator at Credit Card Tune-Up: Maximize Your Rewards (http://www.creditcardtuneup.com/) to see if other cards would be better for your overall spending.
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Why limit yourself to a Cash rewards card?
Why not try a Citi Premier Pass Card that gives you TY points for miles flown in addition to purchase... you can exchange these TY points for plane tickets, and so the value can be over 2% for each dollar spent.
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The Lexus Pursuits Visa (http://www.lexuspursuits.com) offers 1.5% back on all purchases and 5% back on purchases at Lexus dealerships. There is no annual fee. Technically, you redeem your points for a Lexus Dealer Visa Gift Card which they say can just be used at Lexus dealers. But really it is a Visa gift card that can be used anywhere Visa's are accepted. It does mean that your cash back is in gift card form, but still a good rate
Answer
Dinning:Citi MTVU 5% TYP
Supermarket, drug store etc. Chase cash+, reward+ 5%
Flight and others:Citi Premier Pass Elite level or regular
AMEX Starwood card is a good card else.