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GoLowDrew
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7127 posts [101%]
Xanadu
1-26-2000
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| « Re: Reward Credit Cards. Is it worth it to have one? (Token Blk Guy) | « » 1:02 PM 6/3/2008 |
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Very true. No free lunch in life.
Eddie would Go!
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White98LS
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1168 posts [100%]
Seattle WA
3-24-2002
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| « Re: Reward Credit Cards. Is it worth it to have one? (GoLowDrew) | « » 3:03 PM 6/3/2008 |
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I always pay in full, so they're worth it to me. If you carry a balance then it's probably not worth the higher rates.
'98 Integra LS, autocross/daily driver
Crower 403s, 152whp, 129wtq@4200rpm, 2346lbs
Vouches: dmakarov, AlvinHuyN, blustreek99, Mike P., MatHadder, mskibbz-t, SiRiUsWeRkS, len, camp1320mark, Padawan, evs-one, C-speed, crexer, xrydazx, Frank_2.0L, djtsmith007, Dogginator
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...rohit
Online
1869 posts [100%]
Germantown MD
11-16-2001
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| « Re: Reward Credit Cards. Is it worth it to have one? (White98LS) | « » 3:46 PM 6/3/2008 |
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| Quote, originally posted by White98LS » | | I always pay in full, so they're worth it to me. If you carry a balance then it's probably not worth the higher rates. |
word, but i have that american express blue cash card....5% off gas and food charges but you only get it if you spend $6500 a year and even then thats nothing....
I <3 INDIA.
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Token Blk Guy
Honda-Tech's Financial Advisor
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1858 posts [101%]
Money and Investing Moderator, Sacramento Ca
4-26-2002
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| « Re: Reward Credit Cards. Is it worth it to have one? (...rohit) | « » 4:11 PM 6/3/2008 |
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Yeah I was going to change to blue cash from the Gold but when I read the fine print and saw you only get 5% on gas and supermarket purchases ( not to include costco or sams) and then only get 1.5% on everything else, I said pass.However i havent used my rewards point on that card in 6 years. So they are just sitting there 
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GoLowDrew
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7127 posts [101%]
Xanadu
1-26-2000
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| « Re: Reward Credit Cards. Is it worth it to have one? (Token Blk Guy) | « » 4:29 PM 6/3/2008 |
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Since we are talking about cc reward programs, I have to give GM card a quick promo.I hardly use it. I got only $30 rebate built up since 2004 (I used up ~$1,600 on my 04 Vibe). GM card bumped it up to $2,000 to get me to buy. In Jan, they were offering $1,000 on 08 Cobalt. And $1,000 on loyalty bonus. Add it all up to $4K off, the dealer's internet price. Would you believe I got the (a new) car for $6,900? No matter what any one say about Chevy, GM, or Cobalt, bottom line is $6,900 for a new car...... (BTW great little car). Currently my GM card earning is $10. I'm waiting for the "next deal." CTS?? 
Modified by GoLowDrew at 3:52 PM 6/3/2008
Eddie would Go!
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...rohit
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1869 posts [100%]
Germantown MD
11-16-2001
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| « Re: Reward Credit Cards. Is it worth it to have one? (GoLowDrew) | « » 6:41 PM 6/3/2008 |
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| Quote, originally posted by GoLowDrew » | | Since we are talking about cc reward programs, I have to give GM card a quick promo. I hardly use it. I got only $30 rebate built up since 2004 (I used up ~$1,600 on my 04 Vibe). GM card bumped it up to $2,000 to get me to buy. In Jan, they were offering $1,000 on 08 Cobalt. And $1,000 on loyalty bonus. Add it all up to $4K off, the dealer's internet price. Would you believe I got the (a new) car for $6,900? No matter what any one say about Chevy, GM, or Cobalt, bottom line is $6,900 for a new car...... (BTW great little car). Currently my GM card earing is $10. I'm waiting for the "next deal." CTS?? |
thats baller, I have $1500 off a GM car from my GM card, but I don't know if I want to get another GM 
I <3 INDIA.
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csingham
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929 posts [97%]
Henderson NV
7-5-2002
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Casinos have these card and have been using rewards for a long time.
The current ratio is this like 1 point to almost 5$ played....so if a casino does it....you know you have no advantage
"When your screwing up and no one is saying anything; they've given up on you"-Randy Pausch RIP 
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Matgallis
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3134 posts [98%]
wet Dreaming over 400whp
3-27-2003
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$35 dollar in savings last year on my blue 
Theupdown - Paid stock market simulator
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White98LS
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1168 posts [100%]
Seattle WA
3-24-2002
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| Quote, originally posted by Matgallis » | | $35 dollar in savings last year on my blue |
$170 on my Costco AmEx and almost a free Southwest flight on my SW Visa. BUT it must be mentioned that the Costco card charges a high rate... I wouldn't touch it if I carried a significant balance. The incentives are there to entice you into using it for everything, resulting in the CC company making money off of YOU through interest and making vendors use their cards (transaction fees). Which really makes it simple: if you carry a big balance, you lose; if you pay it off in full, free money.
'98 Integra LS, autocross/daily driver
Crower 403s, 152whp, 129wtq@4200rpm, 2346lbs
Vouches: dmakarov, AlvinHuyN, blustreek99, Mike P., MatHadder, mskibbz-t, SiRiUsWeRkS, len, camp1320mark, Padawan, evs-one, C-speed, crexer, xrydazx, Frank_2.0L, djtsmith007, Dogginator
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96civic_hb
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2016 posts [100%]
EVERYWHERE, Fl
4-28-2007
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I have a rewards credit card with my bank (Navy Federal) and I have never used my rewards points. I never even applied for the card, I applied for a regular master card and after a year or so having it they got rid of the current credit card and replaced it with a nRewards Credit Card and I have never used my rewards points in like four years since they switched it. But in my opinion I don't think they are worth it, on my card you get 1 rewards point for every dollar you spend, in order to get say an iPod shuffle, I have to spend $10,000.00 to get 10,000 rewards points. I don't think it's worth it, so I just let mine sit there...
'96 VSM EJ6 B16 Team EJ6 #134
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twentywontowin
BEAR DOWN
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8143 posts [100%]
Oak Lawn IL
3-14-2003
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Award points redeemable for merchandise is almost never worth it, but if you're transfering points into airline programs, the miles can add up quickly, especially on certain cards (AMEX Starwood for example).BofA just put out a Virgin Atlantic AMEX card. 20,000 miles for signing up and making one purchase on it. $90 annual fee It only takes 25,000 miles for a round-trip coach fare from Chicago to London. Sign up for a AMEX Starwood at the same time and you get 10,000 Starpoints on your first purchase. Take those points and roll them into your Virgin Atlantic miles program, and you got a free flight to London for basically nothing.
Mark
███ 2007 Civic Si
2008 Ducati 848
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White98LS
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1168 posts [100%]
Seattle WA
3-24-2002
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| « Re: FV-QR (twentywontowin) | « » 1:52 PM 6/23/2008 |
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| Quote, originally posted by twentywontowin » |
It only takes 25,000 miles for a round-trip coach fare from Chicago to London. Sign up for a AMEX Starwood at the same time and you get 10,000 Starpoints on your first purchase. Take those points and roll them into your Virgin Atlantic miles program, and you got a free flight to London for basically nothing. |
Pretty cool, but doing this wreaks havoc on your credit score, no?I just got my free roundtrip flight from my Southwest Visa after just over one year ($59 annual fee). They get you halfway there just for signing up. I think this will be good for when I move out of state for school because each roundtrip flight gets you 1/8th of the way to a free one, and the money you spend on Soutwest flights gets double credit (16 credits for a free roundtrip flight, $1,200 = 1 credit so $600 spent on SW = 1 credit). If RT flights are $300 between CA and WA every 7th flight or so will be free.
'98 Integra LS, autocross/daily driver
Crower 403s, 152whp, 129wtq@4200rpm, 2346lbs
Vouches: dmakarov, AlvinHuyN, blustreek99, Mike P., MatHadder, mskibbz-t, SiRiUsWeRkS, len, camp1320mark, Padawan, evs-one, C-speed, crexer, xrydazx, Frank_2.0L, djtsmith007, Dogginator
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twentywontowin
BEAR DOWN
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8143 posts [100%]
Oak Lawn IL
3-14-2003
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| Quote, originally posted by White98LS » |
Pretty cool, but doing this wreaks havoc on your credit score, no?I just got my free roundtrip flight from my Southwest Visa after just over one year ($59 annual fee). They get you halfway there just for signing up. I think this will be good for when I move out of state for school because each roundtrip flight gets you 1/8th of the way to a free one, and the money you spend on Soutwest flights gets double credit (16 credits for a free roundtrip flight, $1,200 = 1 credit so $600 spent on SW = 1 credit). If RT flights are $300 between CA and WA every 7th flight or so will be free. |
Not at all. Long as the credit cards are showing up as soft pulls and not hard credit pulls when you initially sign up for them.
Mark
███ 2007 Civic Si
2008 Ducati 848
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Pittsburgh PA
5-17-2004
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| « Re: FV-QR (twentywontowin) | « » 7:17 PM 6/24/2008 |
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I've accrued 55,000 points on my Citi Diamond Rewards since 2004 and my parents have 115,000 since 2007. Consider this. Every 11,000 points is a $100 dining gift certificate. I haven't paid an interest charge or annual fee ever! I have a Capital One Rewards card, but its nowhere near as rewarding as Citi. National City sucks with their points system too.
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ingrate
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2015 posts [100%]
Newark CA
1-26-2000
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I just got a $250 check from Chase Freedom after earning $200 in cashback. I pay in full, so 0 interest for me. Took about 10 months to accumulate the rewards.I HATE paying interest, that's like willingly overpaying for stuff just to have it now.
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dazman696969
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249 posts [95%]
haddonfield nj
5-17-2008
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I run up about $2k-2.5k/month on my CC. I pay everything possible with it, utilities for two homes included.I mostly do that for reward points, a side benefit is credit rating If I didn't pay them off every month I wouldn't even consider using a credit card
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Token Blk Guy
Honda-Tech's Financial Advisor
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1858 posts [101%]
Money and Investing Moderator, Sacramento Ca
4-26-2002
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| « Re: FV-QR (twentywontowin) | « » 4:44 PM 6/25/2008 |
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| Quote, originally posted by twentywontowin » | | It only takes 25,000 miles for a round-trip coach fare from Chicago to London. Sign up for a AMEX Starwood at the same time and you get 10,000 Starpoints on your first purchase. Take those points and roll them into your Virgin Atlantic miles program, and you got a free flight to London for basically nothing. |
Are you sure about this? I have the starwoods card and i dont think you can transfer points from card to card. I think you can transfer points that are linked to a frequent flyer account. Like i have deltaFFA (i hate them) and my cards are linked to that account. But last i checked you coudlnt move points from card to card especially if it isnt in the AMEX family. If i am wrong please correct me...
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twentywontowin
BEAR DOWN
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8143 posts [100%]
Oak Lawn IL
3-14-2003
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| Quote, originally posted by Token Blk Guy » | Are you sure about this? I have the starwoods card and i dont think you can transfer points from card to card. I think you can transfer points that are linked to a frequent flyer account. Like i have deltaFFA (i hate them) and my cards are linked to that account. But last i checked you coudlnt move points from card to card especially if it isnt in the AMEX family. If i am wrong please correct me... |
You misread what I said..the Virgin Atlantic program, not the actual card.
Mark
███ 2007 Civic Si
2008 Ducati 848
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