Reward Credit Card

[CarolynandBob]

We have had the costco credit card for years. We use it for everything. Our reward each year is in the $1200 -$1400 range.

The problem. We don;t go to costco anymore. Only reason is Sams club is 2 miles from our Florida place and an hour closer than costco at our TN place.

So I said let's get a Sams Club card and get rid of the costco card. Get the Sams card and it says $1000 limit. Call synchrony which is where the card is from and ask for a limit increase and tell them why. We use it for everything and pay it off each month. They came back and said no. Lady didn't know why on the phone. Funny thing is we have multiple CD's at Synchrony as last year they had pretty good rates.

So anyway I tell her to cancel the card. We have no debt and credit in the 800's. Not a big deal to keep the costco card, but don't want to pay the $120 per year for the club that we don't use. Yes our reward pays way more than the cost, but my polish -jew ass doesn't want to pay for something I don't use.

So, what reward cards are you guys using? I like the idea of getting cash instead of plane tickets or something like that.

 

[thedan]

My Wells Fargo Reward card pays directly to my Wells mortgage.

 

[snowboat]

Amex with 1 1/2% cash back on all purchases. Deposits the cash into a Schwab cash account.

 

[CarolynandBob]

My Wells Fargo Reward card pays directly to my Wells mortgage.

Where would it go if you didn't have a mortgage?

 

[Deja_Vu]

Capital One Venture card. 2 miles for every $1 spent. You can use your rewards as a statement credit, book travel or use purchase eraser to redeem miles for a travel purchase.
$59 annual fee

 

[4czn10]

We have had the costco credit card for years. We use it for everything. Our reward each year is in the $1200 -$1400 range.

The problem. We don;t go to costco anymore. Only reason is Sams club is 2 miles from our Florida place and an hour closer than costco at our TN place.

So I said let's get a Sams Club card and get rid of the costco card. Get the Sams card and it says $1000 limit. Call synchrony which is where the card is from and ask for a limit increase and tell them why. We use it for everything and pay it off each month. They came back and said no. Lady didn't know why on the phone. Funny thing is we have multiple CD's at Synchrony as last year they had pretty good rates.

So anyway I tell her to cancel the card. We have no debt and credit in the 800's. Not a big deal to keep the costco card, but don't want to pay the $120 per year for the club that we don't use. Yes our reward pays way more than the cost, but my polish -jew ass doesn't want to pay for something I don't use.

So, what reward cards are you guys using? I like the idea of getting cash instead of plane tickets or something like that.

I am in the same position you are! I've been a costco Card holder for years. I get the most benefit from the 4% Gas rebate, and love that(Especially during the summer!). I work near the Costco, so until I retire (next year or so) I can go to the warehouse and take advantage of that. We live about 40 miles from Costco. The Sam's warehouse is about 10 miles form where we live, and until last month they didn't have a gas station...Well they finally put the gas station in, so when I retire, I will have to make a decision...the reason I'm telling you all this, is because I also had a bad experience with the Sam's/Synchrony card, through my work, and I canceled the business card and switched to our local bank visa.

With all that said, I think I will be keeping out Costco card and make sure I charge Gas, Restaurant, and travel to that card, and I have a Chase Southwest card for all the other purchases. It takes a little work, but it works for my cheap Hungarian ass! I do not think I will sign up for the Sam's card.

 

[parker guy]

Try going to the bank you bank at, they have reward cards that turn into cash if you deposit the money into your account...

 

[gqchris]

This is the problem right now. Banks are taking away credit limits and being stingy with new cards in anticipation of the bottom falling out in 6 months. I also have an 800 score and ammost of my cards with no balance have been canceled by the bank. Pisses me off to no end as I have been a loyal customer for years.

 

[FROGMAN524]

Love my PenFed Power Cash Rewards card. 1.5% back on everything, limit is $43K and it’s Visa so they take it everywhere unlike Amex. I’ve got a bunch of cards, probably 20, but the only one I use is the PenFed. It’s open to vets and their families like USAA and Navy Federal CU. Our scores are both over 800.


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[RodnJen]

I haven't shopped them in years but the Wells Fargo rewards program is what we use. It has good flexibility and can be used for airline tickets, gift cards debit cards, whatever. I'm sure there is a consumer site that compares the accrual rates and fees of competitive programs.

 

[RitcheyRch]

My Wells Fargo Reward card pays directly to my savings account.

 

[Englewood]

This is the problem right now. Banks are taking away credit limits and being stingy with new cards in anticipation of the bottom falling out in 6 months. I also have an 800 score and ammost of my cards with no balance have been canceled by the bank. Pisses me off to no end as I have been a loyal customer for years.

I have many credit cards with high limits and none have been reduced.

 

[LargeOrangeFont]

Can you not use the Costco Visa credit card at Sams?

 

[YeahYeah01]

Capital One Venture card. 2 miles for every $1 spent. You can use your rewards as a statement credit, book travel or use purchase eraser to redeem miles for a travel purchase.
$59 annual fee

Thats what I use as well. And they give high limits. Seems to work well.

 

[El Chingon]

Can you not use the Costco Visa credit card at Sams?

Yes, i use mine there for gas and purchases.

 

[jadenchick]

Amex Platinum card. The annual fee is high but the perks are incredible.

 

[Jay Dub]

x2 for Amex Platinum. Aside from perks, the customer service is vastly superior to other cards.

 

[jadenchick]

x2 for Amex Platinum. Aside from perks, the customer service is vastly superior to other cards.

Agreed! Hardly ever a wait to talk to someone, they speak English and understand exactly what I’m conveying. Had to dispute charges before and it was an excellent experience. The perks at hands down the best especially as a traveler.

 

[thmterry]

I have many credit cards with high limits and none have been reduced.

I had one of my high limit cards drop the limit in half , they said "Because you dont use the card your 1/2 limit is still higher then you have used in the last 2 years".

 

[MagicMan]

Been using Sams Club Master Credit card for years pays out annually 5% fuel 3% dining and travel 1% everything else. Also use Bank of America travel rewards pays 2% monthly also no fees for international travel.

 

[OldSchoolBoats]

This is the problem right now. Banks are taking away credit limits and being stingy with new cards in anticipation of the bottom falling out in 6 months. I also have an 800 score and ammost of my cards with no balance have been canceled by the bank. Pisses me off to no end as I have been a loyal customer for years.

Same thing happened to me a month ago. One of my oldest cards, Discover, that I haven't used in over a year, cut my limit from $5k to $500 and then closed the account 30 days later for no reason. None of my other cards did that, in fact, Chase INCREASED the limits on 2 of my high limit personal cards.

Since age of credit is super important in scoring, I dug my old cards out that have been dormant for awhile and set up some auto payments on them with different items being charged to each, like streaming service and Dropbox.


Now, back to the original subject. AMEX Gold and Chase INK for business and Chase Amazon Prime for everyday.

 

[78Southwind]

I use to have a bunch of other cards but I never used them so over time the companies canceled them. The only cards I use right now is the GM MasterCard and the Discover Card. GM gives me 5% up to $500 a year in rewards to save for a new car and Discover gives 2% back on restaurants and fuel with everything else being a 1% reward. I usually buy gift cards or use it at Amazon.

I was looking at my GM Card yesterday and I have actually used over $15,000 of the GM Points to purchase GM vehicles over the years. I currently have $1,500 in points that I accumulated over the last three years. Not a bad deal since they also send out Top-Off rewards and $1,000 rewards from year to year. However, under the plan that I am on you can only accumulate up to $3,500 before you start to lose the rewards. I think they have another plan that might be unlimited but it's a lesser percentage.

 

[DLC]

That GM card sounded great! I’m thinking use the card for 10 years.... then walk in and get a new truck! BOOM done

I wish it was that easy

 

[78Southwind]

That GM card sounded great! I’m thinking use the card for 10 years.... then walk in and get a new truck! BOOM done

I wish it was that easy

I have had the GM Card since my early 20's so I am one of the original card holders under the original rewards plan. I don't even know if my plan is available for new card holders. I think it is different now. However, one year my girlfriend needed a new car so we went to Chevy and they were trying to blow out their Malibu inventory. They were offering $6,000 off of the MSRP. So we sat down at the table to finish up the work and I pulled out my GM Card with $3,300, my $1,000 GM offer and my $500 loyalty reward. They guy was laughing saying, what else are you going to pull out of your pocket. The guy said he had never seen anything like it before. We were all pretty much laughing because I kept pulling these things out over time since I had forgot about them. So, no free truck but $10,800 off of a nice commuter car.

 

[CarolynandBob]

Try going to the bank you bank at, they have reward cards that turn into cash if you deposit the money into your account...

I have one from my credit union. Have had it for at least 25 years. They used to have a pretty good reward deal and have gotten a lot of airline tickets. About 5 years ago they changed it and wasn't really worth it.

 

[CarolynandBob]

Love my PenFed Power Cash Rewards card. 1.5% back on everything, limit is $43K and it’s Visa so they take it everywhere unlike Amex. I’ve got a bunch of cards, probably 20, but the only one I use is the PenFed. It’s open to vets and their families like USAA and Navy Federal CU. Our scores are both over 800.


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I am going to look into this one. I am a vet. I only have 2 cards. 1 from my credit union and the costco card.

Looked at costco site and saw they have a $60 membership. Does anyone know if you can have the visa card with the cheaper membership? If so, I will most likely just keep it and switch to the cheaper membership. I have had the higher membership so long that I forgot they have a cheaper option.

I started with price club off of Morena Blvd in San Diego back in the late 80's. Then costco bought then or merged and I have been a member since. Can't remember the year they bought them, but I think my card says member since 92 or 93.

Thanks everyone for the reply's

 

[FROGMAN524]

I am going to look into this one. I am a vet. I only have 2 cards. 1 from my credit union and the costco card.

Looked at costco site and saw they have a $60 membership. Does anyone know if you can have the visa card with the cheaper membership? If so, I will most likely just keep it and switch to the cheaper membership. I have had the higher membership so long that I forgot they have a cheaper option.

I started with price club off of Morena Blvd in San Diego back in the late 80's. Then costco bought then or merged and I have been a member since. Can't remember the year they bought them, but I think my card says member since 92 or 93.

Thanks everyone for the reply's

I’ve got the $60 gold star membership and a Costco CITI card as well.


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[Instigator]

Bank of America Travel Rewards Card. If i use it, I just go to the app on my phone and transfer money for the purchase that was just made so it always has a zero balance. Then when we travel out of the country we use it and when we get home we use all the points to pay off our international travel expenses. It is like a free vacation.

 

[rush1]

Where would it go if you didn't have a mortgage?

I have mine give me cash back into my checking account