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Posted by Default User on August 15, 2008, 5:08 pm
Chip wrote:
> I totally agree with you. Now if I could get my Reward Points
> "rewards" w/o jumping through PITA hoops, my life would be serene.
What card do you have, and what hoops?
Brian
--
If televison's a babysitter, the Internet is a drunk librarian who
won't shut up.
-- Dorothy Gambrell (http://catandgirl.com)
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Posted by Chip on August 15, 2008, 8:30 pm
Default User wrote:
> Chip wrote:
>
>> I totally agree with you. Now if I could get my Reward Points
>> "rewards" w/o jumping through PITA hoops, my life would be serene.
>
> What card do you have, and what hoops?
>
Visa Platinum from my local Credit Union @6.9% w/no annual fee. Pay it
off every month.
We usually use the Reward Points for air travel (just used it for my
50th HS Reunion). It is restricted to only simple round trips to and
from a single destination (no 1-way, triangle, or anything fancy) and
must be booked at least 8 weeks in advance, with plenty of "no-go"
blackout dates. PITA as we wanted to fly from Phoenix into Tampa and
out of Ft. Lauderdale. Had to fly back to Tampa 1-way to catch the
return trip.
Chip
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Posted by Default User on August 15, 2008, 8:59 pm
Chip wrote:
> Default User wrote:
> > Chip wrote:
> >
> > > I totally agree with you. Now if I could get my Reward Points
> > > "rewards" w/o jumping through PITA hoops, my life would be serene.
> >
> > What card do you have, and what hoops?
>
> >
> Visa Platinum from my local Credit Union @6.9% w/no annual fee. Pay
> it off every month.
>
> We usually use the Reward Points for air travel (just used it for my
> 50th HS Reunion). It is restricted [remainder snipped]
Ah. I don't travel much. The Citicard I use has a reward point system.
I get gift cards because I don't want to spend time figuring out if the
merchandise is a good deal. I'd just rather have $50 card for gas or
Target or whatever. Discover just has cash, and you can also get
bonuses when you use it to buy from their stable of "partners".
Brian
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Posted by Will Trice on August 16, 2008, 1:22 pm
Default User wrote:
> The Citicard I use has a reward point system.
> I get gift cards because I don't want to spend time figuring out if the
> merchandise is a good deal. I'd just rather have $50 card for gas or
> Target or whatever. Discover just has cash, and you can also get
> bonuses when you use it to buy from their stable of "partners".
I also use a Citi card for the reward points, but I just got a mailer
from Countrywide for a credit card that pays back 2% of purchases
towards my mortgage (I have a Countrywide mortgage). Looks interesting...
-Will
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Posted by anoop on August 18, 2008, 4:00 am
wrote:
> I also have a savings account. My bank has a offer that you sign up
> and use you debit card and they will transfer the change to your
> savings account and my bank transfers money every month to my savings
> I saved $6.40 already this month so far.
Let's have some fun...
The way I understand this program (at least the way I've seen it
offered), if your purchase something that costs $x.y (x dollars
and y cents), then (100 - y) gets transferred to your savings
account. The most that you can ever get with any purchase
using this scheme is $0.99. The average is probably closer
to $0.50.
If you look at a cash back credit card, most offer at least 1%,
some offer 2% on gas groceries, and depending on how much
you spend, some cards will give up to 1.5% for everything and
5% on gas and groceries. Anyway, let's go with the 1% for
now. To get $0.99 back, you'd have to purchase something
that costs $99. To get $0.50, you'd have to spend $50.
So the rules are:
- For any purchase > $99, the cash back credit card wins hands down.
- For any purchase < $50, on average, the "keep the cash" card wins.
- For any purchase > $50, on average, the cash back credit card wins.
Of course, if you have a card offering a higher cash back
percentage, say 5% for gas purchase, then you are better
off, on average, with the credit card at just a $10 purchase
price.
Overall, I think the cash back credit card wins. YMMV.
:-)
Anoop
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