Credit Cards
 

I know this thread is off topic, but being powerboaters, Im guessing many of you use credit cards alot! :D

Anyway, does anyone know much about what credit card companys offer what rewards, and if it is worth it? I have my checks direct deposited, and lately have found it very convienient to use my credit card for everything from buying gas to buying groceries or whatever, then just paying the bill a few days later online. Last night it was brought to my attention that they have alot of different rewards, but I never have given them much thought.

Any suggestions?

Re: Credit Cards
 

BankAmerica cash back :drink:

Re: Credit Cards
 

same here

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Discover offers a credit card with special cash back rates on gasoline. You get 5% cash back on gas purchases. And they have certain partners that if you take gift certificates for their stores versus cash, they double the reward to 10%.

You can call 1-800-discover and just ask for the special gas credit card deal. You can also find it on the internet if you search for gas credit cards. They got rated as the best deal. I like it because you can buy any brand gas you want.

Re: Credit Cards
 

That's what we do too. It's called a budget. If we have it fine and if not it stays on the shelf.

As most of my assets are tied up in the business a LOT stays on the shelf. I am only into hepling those who have appropriate needs in my books. I turn away more than I take on for that reason. That limits my income a lot. I sleep better at night.

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Troutly hit on the head, his idea and maybe a slice of AMEX.

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Looks like most of you missed my point. The money is there. I just use the card instead of writing a bunch of checks. I havent paid one penny of interest on a credit card in years, and I never carry a balance. Since I use it the way I do, I thought maybe it could be earning me some kind of rewards.

I learned at a young age that credit cards will screw you if you arent careful. They are tough to pay off if you get them high enough.

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I got a card from Capitol One that pays you airline miles for every dollar and there is no annual fee-and you can use them on any airline. 9000 for a ticket.

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AMEX has a Rewards program. You can either purchase items with the points you accumulate or transfer them to some Airline programs for miles

Re: Credit Cards
 

My daddy (God rest his soul) got me a checking account the day I got my driver's license. He got me a low-limit credit card the day I went to college. Taught me that credit was a tool, just like a can opener or a torque wrench. You can get the job done without them, but they make things easier and better.

In all my years of having credit cards, I've used the holy crap out of them but have only carried a residual balance for maybe 8 billing cycles in 25 years (and most of those were low balances near Christmas time in my early years of being married - dam wives are expensive).

I like the following about cards: They give you detailed statements, and you pay a month worth of transactions with one check. They give you buyer protection on lots of purchases. They can give you extended warranties on purchases. They give you free rental car insurance and air travel accident insurance. They keep you from having to carry a wad of cash. They give you 30 days to pay your purchases. They can also give you rewards.

I use them whenever I can. I pay my cards off every month.
I am very familiar with most rewards programs. And the rewards programs all involve an annual fee from $20 to $100. That's the downside.

For flying, the Southwest Airlines VISA offers by FAR the best bang for the buck.
For accomodations, the Marriott Rewards VISA card offers a great value.

but if you notice, both of those cards are tied to a SPECIFIC chain or entity. AND the rewards have a "shelf life", where after a certain time period, they begin being "erased" from your account off the backside.

The mose FLEXIBLE plan out there is the AMEX "Membership Rewards" program. It NEVER expires your accumulated points. It lets you drag the points into a TON of other programs (like the Marriott program, and most all airline programs) and use them there OR you can use them for lots of different rewards out of the AMEX program itself. The base gold card is a $75/yr card, and the Membership Rewards program I believe is another $50/yr, but you can link your wife's card for another $15 and any and all business cards for $15 each.

I use my rewards pretty regularly, but have still managed to accumulate over 500,000 points in the program that I need to start using up.

It turns into a game after a while...
At one time I had the FORD points card and the GM points cards and had maxed them out on points $3500 in one, and $5000 in the other, but you had to buy a new car to use them. I ended up never using them before they expired. I seem to have no trouble racking up the points, but you need to be sure the program offers reward exchanges you will actually use. This is why I like the Amex program. If the zillion choices they offer don't suit you, you can drag a chunk of points into a program that DOES offer stuff you need.

Since some places don't accept Amex, I also have a VISA and MCARD rewards card (one is tied into shopping coupons, the other is an air miles card). I also have a discover card but that is just for Sams Club and I don't have it tied to a rewards program other than their pitiful cash back program.

i almost forgot: there are credit cards tied to gas programs. If you have any marinas that are "branded" as a gas station, then you can both earn and redeem points there. I don't have one cause our marinas aren't associated with any gas companies.

Re: Credit Cards
 

I travel a lot and use credit cards frequently, personal and corporate. I use a Hilton honors credit card that gives me points towards hotel rewards. I have diamond status with Hilton which offers a lot of perks. I am about 4-5 months away from a free 7 night stay at the Wikiki Hilton resort in Hawaii :)

Re: Credit Cards
 

[QUOTE=mcollinstn]

I like the following about cards: They give you detailed statements, and you pay a month worth of transactions with one check. They give you buyer protection on lots of purchases. They can give you extended warranties on purchases. They give you free rental car insurance and air travel accident insurance. They keep you from having to carry a wad of cash. They give you 30 days to pay your purchases. They can also give you rewards.



QUOTE]

Thats what Im talking about. I cut my check writing in half. I dont even write them a check anymore, I just get online and pay it as soon as it shows up. Very easy, and I havent run into any problems this way. I used to see people paying for gas on a credit card, and these are people with balances every month, so they are paying interest on gas! But, now since I pay the bill online, its easier to just pay at the pump. I have very little time during working hours to get to the bank for cash these days.

Thats for all that info! :)

Re: Credit Cards
 

I use NWA - Worldperks... Lots of Air Miles :drink: I used to use my AMEX for everything but not everyone takes it. I pay everything with my NWA card:

Mortgage - Car Lease (s) - Grocerys - Gas - ON and ON and ON... then at the end of the month I go on-line and tranfer the money over! You get all of the benifits and still pay no interest :D :D

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amex... plus it is always due so you don't fall into the trap of letting it ride, it paid for my airfare to KW this year... :D :D :evilb:

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I use a Capital One card also, but don't know of a ticket I can get for 9,000 miles. The miles are good on ANY airline and can be used for other stuff they have in a catalog. (electronics, car rentals, hotels,etc). We pay no annual fee. We use it for everything and pay it off every month. I will be going to Germany this summer and the tickets will be "free". I agree with you logic Teambaja, might as well get something if I'm going to be using the card anyway.
Russ C.

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I use a card that is tied to American Airlines. We use it for both of our businesses. It is a business card so we each get a yearly statement fo our purches. We average about 2 free 48 state plane tickets a year.

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Exactly, I use the card a lot HOWEVER every month it gets paid. :D

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I use the GM card more than any other. 5% cash back on a new GM vehicle. In 2000 my wife got an additional $1300 off a new Yukon and to date has $3000 credit toward something else new(and thinking :rolleyes: ).
Gotta pay it off every month or you lose out to the interest :( . That way what you get back you truly get back ;)

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I use AMEX only travel alot and buy alot never have an issues with them on a dispute have always taken my side.

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Here Team check out this site.

http://www.cardweb.com/cardincentives/

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I buy almost everything with my credit cards, not for the credit but for the convenience and so i don't have to carry around a bunch of cash. The one i use the most is my chase freedom card they give you 5% back on all gas or diesel purchases and 1% back for everything else and they take the amount earned off of your next bill so you don't have to spend it at certain stores or wait to get a check back. You just have to pay it off every month because if you pay interest charges one time it pretty much wipes out any benefit from using the card.

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We use a Shell Mastercard. We buy a lot of gas and when using this card you get 5% off your gas purchases. It also prvides an additional 1% discount on Shell gas on all other purchases. I am not big into credit. The bill gets paid off every month. But when buying a couple thousand dollars worth of gas a year, it adds up.