Is Discover the best card now for rewards (gas in particular)?

[oogabooga]

Originally posted by: kranky
AmEx Blue Cash has better rebates for those with very high levels of spending. For most people, PenFed is better.

Plus, AmEx is in freak-out mode at the moment, cutting credit lines drastically for no obvious reason to customers who have a perfect record. Some customers are checking their account online every day just to be sure tomorrow's purchases will go through, and their credit line wasn't cut or their account frozen for a financial review.

If you depend on your AmEx card, always make sure you have another card with you in case they freeze your account.

I went online to check after that post and I see they actually ended up raising my spending limit 25% Great, more credit I probably shouldn't have access too ><

Is there any news as to why or a pattern of who AmEx is doing this too? Are they lowering limits or completely freezing cards or both?

 

[GasX]

According to my brother-in-law who spends ~$100,000 month on his credit card (work related don't get excited), the best cash value card is the Starwood Hotels Card. The cash value of the rewards is higher than any cash back card on the market. Of course, you have to spend enough to get worthwhile rewards...

 

[SoulAssassin]

Finally got off my butt and applied for the PenFed card...approved for 30k.

 

[kranky]

Originally posted by: oogabooga

Originally posted by: kranky
AmEx Blue Cash has better rebates for those with very high levels of spending. For most people, PenFed is better.

Plus, AmEx is in freak-out mode at the moment, cutting credit lines drastically for no obvious reason to customers who have a perfect record. Some customers are checking their account online every day just to be sure tomorrow's purchases will go through, and their credit line wasn't cut or their account frozen for a financial review.

If you depend on your AmEx card, always make sure you have another card with you in case they freeze your account.

I went online to check after that post and I see they actually ended up raising my spending limit 25% Great, more credit I probably shouldn't have access too ><

Is there any news as to why or a pattern of who AmEx is doing this too? Are they lowering limits or completely freezing cards or both?

No one knows why AmEx is doing this. Some customers are finding their credit lines drastically reduced. Others are finding their accounts frozen until they provide income tax records. These people had no late payments, no going overlimit.

 

[daggerr]

Originally posted by: Skoorb
Thanks, pentagon sounds like the ticket!

The PenFed card is certainly a good card. However, depending on the categories in which you spend money, you could do better with others.

For example, the Citi Driver's Edge card pays 6% rewards at gas, grocery, and drug stores for the first year and 1% everywhere else. Plus, if you drive your car a lot and participate in their drive rewards program, then you can effectively earn 12% rewards on gas/grocery/drug stores and 2% on everything else. After the first year, it goes down from a max of 12% rewards to a max of 6% rewards, but 6% rewards is still very good.

The Citi Driver's Edge is just the first example that came to mind, there are lots of other potentially better cards. AmEx Blue Cash was already mentioned.

Oh, yeah, another totally rockin' card is the "Citi Platinum American Express".
For the first two years, you get 5% on gas, groceries, drug stores and 3% back on EVERYTHING else. You also get 15,000 points after spending $300 on the card within the
first three months.

There are only a few downsides to this card:
-- After the first year, the annual fee becomes $99/year (fee is
waived the first year)
-- Maximum rewards of 150,000 points ($1500) per calendar year. At
the 3% reward rate, this means you can only earn on $50,000 worth of
spending per year.
-- It is an AMEX card, so certain places may not accept it.
-- You're earning ThankYou points rather than cash back. However,
ThankYou points are nearly as good as cash since you can use them for
so many different things (travel, oodles of gift cards, etc.).

 

[Mermaidman]

Originally posted by: Ns1

Originally posted by: sciencewhiz

Originally posted by: Ns1
Costco/Amex TrueEarnings

3 or 5% on gas for personal card, 1% everywhere, 2% travel, 3% meals, no annual fees

With the business card it's 5% on gas guaranteed

I just looked on the amex website and don't see gas mentioned.

it's not there, it's a new thing, it's in this month's Costco newsletter thing (costco connection?)

I presume you mean for the personal card, because for the business card it's definitely there

Holy cow, I need to get that card! I charge 1000s in air tickets, car rentals, hotels, meals every month. AmEx Blue Cash was good to me until the rebate %s changed.

edit: Interesting, the fine print says:
Rebates are awarded annually in the form of an in-store coupon redeemable for cash or merchandise at any U.S. Costco Warehouse.
So I bring the coupon to Costco and get loads of cash?

 

[Shawn]

There are places that actually take discover?

 

[oiprocs]

Originally posted by: Ns1
Costco/Amex TrueEarnings

3 or 5% on gas for personal card, 1% everywhere, 2% travel, 3% meals, no annual fees

With the business card it's 5% on gas guaranteed

No annual fees? Forgetting are we that you must pay $50 annually to Costco?

If you go to Costco often, this card is worth it. But if you rarely visit, like me, I just don't see the point of giving away 50 bucks each year. I had them transfer it to a different card.

 

[dr150]

Originally posted by: Mwilding
According to my brother-in-law who spends ~$100,000 month on his credit card (work related don't get excited), the best cash value card is the Starwood Hotels Card. The cash value of the rewards is higher than any cash back card on the market. Of course, you have to spend enough to get worthwhile rewards...

Agreed.

Also the Citi AMEX Platinum is fantastic for the first year promo. Your points really add to to free trips fast!

The Citi Premier Elite is great if you're looking into buying a flight ticket in the next year. You couple that with the bonus points and you should be near a little compromise free ticket.

Both are fee free the first year with the bonus points (Google up exisiting promos, Fatwallet Finance, or flyertalk.com)

If you play the game, there's several cards worth having at any one time to garner big rewards and then cancelling at the 1 yr. anniversary.


BUT......if you don't play, then by all means Starwood AMEX (even with the recent devaluations).

 

[Ns1]

Originally posted by: oiprocs

Originally posted by: Ns1
Costco/Amex TrueEarnings

3 or 5% on gas for personal card, 1% everywhere, 2% travel, 3% meals, no annual fees

With the business card it's 5% on gas guaranteed

No annual fees? Forgetting are we that you must pay $50 annually to Costco?

If you go to Costco often, this card is worth it. But if you rarely visit, like me, I just don't see the point of giving away 50 bucks each year. I had them transfer it to a different card.

oh yeah?

i got executive membership

90 bucks instant bonus for sharebuilder

i bought 2 shares of intel

25 bucks of cost 90 bucks in gain, net gain 65

seriously, it doesn't matter if you go to costco or not, if you structure the services and shit right, you can easily recover your cost

'sides, it's not amex's annual fee, it's costco's

 

[OulOat]

Originally posted by: Mermaidman

Originally posted by: Ns1

Originally posted by: sciencewhiz

Originally posted by: Ns1
Costco/Amex TrueEarnings

3 or 5% on gas for personal card, 1% everywhere, 2% travel, 3% meals, no annual fees

With the business card it's 5% on gas guaranteed

I just looked on the amex website and don't see gas mentioned.

it's not there, it's a new thing, it's in this month's Costco newsletter thing (costco connection?)

I presume you mean for the personal card, because for the business card it's definitely there

Holy cow, I need to get that card! I charge 1000s in air tickets, car rentals, hotels, meals every month. AmEx Blue Cash was good to me until the rebate %s changed.

edit: Interesting, the fine print says:
Rebates are awarded annually in the form of an in-store coupon redeemable for cash or merchandise at any U.S. Costco Warehouse.
So I bring the coupon to Costco and get loads of cash?

Yes. They send out the checks in Feb and you can redeem them at any costco.

 

[kranky]

Originally posted by: dr150

Originally posted by: Mwilding
According to my brother-in-law who spends ~$100,000 month on his credit card (work related don't get excited), the best cash value card is the Starwood Hotels Card. The cash value of the rewards is higher than any cash back card on the market. Of course, you have to spend enough to get worthwhile rewards...

Agreed.

Also the Citi AMEX Platinum is fantastic for the first year promo. Your points really add to to free trips fast!

The Citi Premier Elite is great if you're looking into buying a flight ticket in the next year. You couple that with the bonus points and you should be near a little compromise free ticket.

Both are fee free the first year with the bonus points (Google up exisiting promos, Fatwallet Finance, or flyertalk.com)

If you play the game, there's several cards worth having at any one time to garner big rewards and then cancelling at the 1 yr. anniversary.


BUT......if you don't play, then by all means Starwood AMEX (even with the recent devaluations).

Should be noted that the Starwood rewards are not cashback - they are points for hotel stays or airline miles.

 

[DT4K]

Originally posted by: Mwilding
According to my brother-in-law who spends ~$100,000 month on his credit card (work related don't get excited), the best cash value card is the Starwood Hotels Card. The cash value of the rewards is higher than any cash back card on the market. Of course, you have to spend enough to get worthwhile rewards...

With that amount of spending, he could use his starpoints to permanently live in a hotel.

Based on the average prices of some of the nicer starwood properties, I've estimated the rewards on my Starwood Amex to be worth 3 to 4%

 

[MetalMat]

I probably drive at least 4,500 miles a month and use the Discover open road card. Its pretty good, I like the customer service and the online statements are great. I also find that most of the places I go to accept discover, and if the dont I use my HHonors visa (I use that card to book my hampton inn hotels) so its all good.

I might start looking at the AMEX blue though.

 

[dandruff]

Business : Costco True Amex

 

[StageLeft]

OK, I'm going to see if citi will switch me to driver's edge without a hassle. If so, I'm good for 12 months, then I'll have to re-eval. If they won't, pentagon for me.

 

[TXHokie]

After 9 yrs of using Discover for all my purchases (getting $200-$250 annually in return), I'm ditching it for PenFed Visa. Getting tired of "We don't accept Discover". Not gonna bother with AMEX for same reason.

 

[V00DOO]

Originally posted by: OulOat

Originally posted by: Mermaidman

Originally posted by: Ns1

Originally posted by: sciencewhiz

Originally posted by: Ns1
Costco/Amex TrueEarnings

3 or 5% on gas for personal card, 1% everywhere, 2% travel, 3% meals, no annual fees

With the business card it's 5% on gas guaranteed

I just looked on the amex website and don't see gas mentioned.

it's not there, it's a new thing, it's in this month's Costco newsletter thing (costco connection?)

I presume you mean for the personal card, because for the business card it's definitely there

Holy cow, I need to get that card! I charge 1000s in air tickets, car rentals, hotels, meals every month. AmEx Blue Cash was good to me until the rebate %s changed.

edit: Interesting, the fine print says:
Rebates are awarded annually in the form of an in-store coupon redeemable for cash or merchandise at any U.S. Costco Warehouse.
So I bring the coupon to Costco and get loads of cash?

Yes. They send out the checks in Feb and you can redeem them at any costco.

I just got my Amex Costco rebate check for $160 and plan to shopping at Costco this weekend. You can't redeem the check for cash but you can use the check to buy what ever you want in the warehouse.

 

[mrCide]

i have an amex 'open' business card with cash back, 5% to gas, cell phones, and other stuff. i got back $30 last month and i didnt spend that much. course, i run a small 'business'

 

[imported_Lothar]

Originally posted by: V00DOO
I just got my Amex Costco rebate check for $160 and plan to shopping at Costco this weekend. You can't redeem the check for cash but you can use the check to buy what ever you want in the warehouse.

What if you were to go to Costco and get only a stick of gum?
Will they give you $159 in change back? I don't think they'll print you another check of $159.

 

[kranky]

Originally posted by: Lothar

Originally posted by: V00DOO
I just got my Amex Costco rebate check for $160 and plan to shopping at Costco this weekend. You can't redeem the check for cash but you can use the check to buy what ever you want in the warehouse.

What if you were to go to Costco and get only a stick of gum?
Will they give you $159 in change back? I don't think they'll print you another check of $159.

No, but they might give you a $159 Costco gift card.