What's the current hot personal cash back rewards credit card?
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Financial Planning - Financial planning in general. (Moderated) 

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Subject Author Date
What's the current hot personal cash back rewards credit card? Phil, Non-Squid 05-01-2007
Posted by Phil, Non-Squid on May 1, 2007, 7:27 pm
I neglected to introduce myself in my recent post so I guess I shall do so
now. I'm a 23 year old student graduating this week and will be moving
locations. I've been financially self-sufficient since graduating high
school and plan to be as such as long as possible. I've always shopped
around for the highest checking interest rates (Bankrate), highest cash back
rewards cards (creditcards.com), and best (safe) returns on equity
investments (still figuring this one out).

I currently have a Chase Freedom card that gives 1% all purchases + 2% gas,
grocery, quick service restaurant. It also returns $250 when you reach a
$200 rewards balance. I also have a Citi Dividend that's 1% all purchases +
1% gas, grocery, drugstore, utilities, but I use this one almost never
because it's just a bit weaker than Chase. I'm not a business owner and I
have monthly balances of ~$1k or less that I pay off in full.

I shopped around for travel rewards cards, but the rewards are all valued at
around 2%. I'd like to take vacations maybe twice a year so I figure maybe
the 2% might be worth it if I max out rewards on the other cards. What do
you all do?

And finally, are there any other cash back rewards cards out there that
offer better terms than my cards, without annual fees? Or are some cards
with fees actually worth it? Fee cards seem like they give interesting
features, but ones that I typically wouldn't seek out.

--
Phil


Posted by Elizabeth Richardson on May 2, 2007, 11:51 am

>
> I shopped around for travel rewards cards, but the rewards are all valued
at
> around 2%. I'd like to take vacations maybe twice a year so I figure
maybe
> the 2% might be worth it if I max out rewards on the other cards. What do
> you all do?
>

I have a Bank of America Alaska Airlines card that pays 1 mile for every
dollar I spend, double mileage on Alaska Airlines tickets. The miles never
expire. That works out to better than 2.5% for me, depending on where I want
to go (it's about 5% for a trip I'm taking this summer). I also get a $50
companion fare each year. Alaska has several airline "partners" so there is
quite a bit of travel flexibility.

Elizabeth Richardson


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