Comments on: Changing Our Reward Credit Card Strategy (Again)

By: David C

David C — Thu, 21 May 2009 23:47:25 +0000

As far as I can tell, Chase is still offering the 3% for top 5 categories to card holders that also have a Chase checking account. I was going to close that checking account next month… but it appears I’ll just keep dropping ING Direct “direct deposits” in it indefinitely.

http://www.interestingmoney.co.....-discover/

By: Stephanie

Stephanie — Thu, 21 May 2009 20:17:18 +0000

Too bad I already have too many credit cards. Better cards come out after I’ve already got quite a few…I never know if it’s worth it to go for another card, though this Citi card looks pretty good.

By: Lissa

Lissa — Tue, 19 May 2009 18:42:56 +0000

Thank you for posting this. I wasn’t aware of the changes. We use the AmEx Blue Cash card for everything (and a back-up non-rewards Chase for the few places that won’t take AmEx). I’ll be interested to see what cards you select as your new go-to set.

By: Matt @ StupidCents

Matt @ StupidCents — Tue, 19 May 2009 15:45:54 +0000

I second Driver’s Edge from Citi – ThankYou Rewards are nice, but their program is not nearly as good as it used to be.

By: Cap

Cap — Tue, 19 May 2009 05:53:07 +0000

been using the schwab invest first since dec… 2% unlimited is pretty hot, along w/ cash back automatically deposited into account every month. not to mention no foreign transaction fee. used it abroad and didn’t have to worry about the extra 2-3% transaction charges – sweet!

By: Nickel

Nickel — Tue, 19 May 2009 00:10:47 +0000

Dave: I think it’s even better than that — 2% rewards is $10 back on $500 in purchases. The Schwab card, combined with the Citi Forward card for select purchases (primarily restaurants and Amazon for us) would make for a very, very nice combination. Look for an upcoming post on the subject.

By: Dave

Dave — Tue, 19 May 2009 00:09:04 +0000

The Charles Schwab Invest First card is the best cash back card out there. Spend $500 and you get $5 back. No limit on the amount of cash you can get back.

By: Chris

Chris — Mon, 18 May 2009 23:36:08 +0000

Charles Schwab Invest First Credit Card:
-2% unlimited cash back on all purchases
-cash is automatically deposited into Schwab One account at end of each month.

By: Josh

Josh — Mon, 18 May 2009 22:05:07 +0000

Does this mean everything will be 1% cashback now? I’ve been holder of Freedom for a year now, and waiting for my 200 pts for $250 card. How can I use my 130 some points? I’d like to keep it until I get enough back and drop them like it’s hot. The Citi sounds very good too! I even have Amazon card, so I can drop that also!

By: MLR

MLR — Mon, 18 May 2009 21:46:38 +0000

I have been looking for a new rewards card thanks to Chase.

Will look at this one, too. Thanks!

By: MikeS

MikeS — Mon, 18 May 2009 20:40:12 +0000

The risk of plastic comes from the user. If you are responsible in your spending, you have nothing to worry about. I use a credit card for all my purchases and simply pay the bill in full every month. I would hate to have to go to an ATM to get cash whenever I needed to buy something. That sounds incredibly inconvenient and inefficient.

By: Dawn

Dawn — Mon, 18 May 2009 20:03:51 +0000

no thanks. these shady rewards are not worth the risk of plastic. What’s in my wallet? MONEY! Not Citi/Chase/Amex/Capital One Scum!

By: craig

craig — Mon, 18 May 2009 19:48:40 +0000

I am looking into a rewards Mastercard since mine now currently gets me nothing. Any recommendations?

By: Baker @ ManVsDebt

Baker @ ManVsDebt — Mon, 18 May 2009 18:12:02 +0000

Snip… Snip…

By: Ethan

Ethan — Mon, 18 May 2009 17:47:43 +0000

I’m still liking the Driver’s Edge card. 3% on groceries/gas/drugstores (6% for the first year), 1% on everything else, $1 of rewards for every 100 miles driven on your own car, and redeemable for auto purchases or service. $1,000/yr cap and rewards can accrue for 5 years.

I estimate I can gain $750+ in rewards in the first year, and $500+ in subsequent years. I also like the somewhat narrow redeemability. It’s broad enough that anyone who drives is assured of getting their rewards out without any problem, but narrow enough that it acts as a sort of savings account / emergency fund as well.