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Forum
-> Household Management
-> Finances
MimiMommy
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 Mon, Feb 23 2015, 8:08 am
DH and I, thankfully, for the most part don't use credit cards. We only use credit cards to pay one child's tuition (which is for the most part paid off each month, with a little rollover), and for emergencies.
I've been hearing lately about the rewards the come along with credit cards - such as airline miles - and think that would be great for us, since we have family all over but never travel because of the expense. The credit cards we have now don't offer such rewards. DH has challenged me to find a credit card that would "reward" us for paying the tuition - which comes out to about $6-700 each month - and that doesn't have exorbitant interest. Any ideas? I really want to travel or at least get some cash back or something - but do these things only work when purchasing items?
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doctorima
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Mon, Feb 23 2015, 8:15 am
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Look into Fidelity American Express, which has no annual fee and gives 2% cash back on all purchases, though you must have a Fidelity account to deposit it into. Citi also came out with a card called double cash back card, which also gives 2% cash back. Otherwise, for general spending, AMEX Starwood points are most valuable. Sign-up bonuses constantly fluctuate, and that's how people who play the game get most of their points, but that takes more effort. Right now I believe Chase INK has a 60,000 sign-up bonus for spending $5000 in the first 3 months.
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luppamom
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Mon, Feb 23 2015, 8:21 am
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I have a Bank of America Travel Rewards card. Doesn't cost anything. I'm not sure about interest, though. It would probably depend on your Credit Score. I get points for cash and vacations. It's also free to use internationally which is the main reason I have it.
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abby1776
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Mon, Feb 23 2015, 8:36 am
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Google best credit card for travel points and see what come up
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working hard
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Mon, Feb 23 2015, 10:38 am
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Bsimcha
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Mon, Feb 23 2015, 11:03 am
I second Dansdeals, here's a link to credit card related links
http://forums.dansdeals.com/in.....d=7.0
There's a lot of info there as you can see tried and true methods for all different credit card and traveling ideas.
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Jewishmom8
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Mon, Feb 23 2015, 11:05 am
the most important thing you need to know is to NEVER go into credit card debt.
commit to it now.
you will be so glad you did
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seeker
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Mon, Feb 23 2015, 12:48 pm
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I read through the credit card basics page and list of cards on dan's deals, and ended up deciding on Chase Freedom because there was a good signup bonus and I use Chase for my main account anyway. It's 1% back in general and 5% back on certain categories that change every three months (e.g. gas, department stores, Amazon.com - things we actually use.) I don't use it for tuition because the schools charge a 3% fee for paying by credit card, which is worth more than any points we'd get for that. So I pay tuition by check, use the card for other things, and pay the balance in full every month.
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SRS
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Mon, Feb 23 2015, 1:11 pm
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Does it not cost more to pay tuition on CC?
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m in Israel
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Mon, Feb 23 2015, 2:18 pm
| MimiMommy wrote: | DH and I, thankfully, for the most part don't use credit cards. We only use credit cards to pay one child's tuition (which is for the most part paid off each month, with a little rollover), and for emergencies.
I've been hearing lately about the rewards the come along with credit cards - such as airline miles - and think that would be great for us, since we have family all over but never travel because of the expense. The credit cards we have now don't offer such rewards. DH has challenged me to find a credit card that would "reward" us for paying the tuition - which comes out to about $6-700 each month - and that doesn't have exorbitant interest. Any ideas? I really want to travel or at least get some cash back or something - but do these things only work when purchasing items? |
If you are asking about interest rates that means that you are not paying your credit cards off in full each month. This means you are going into debt. It is NEVER worth going into debt to get miles/points/ rewards. Dan's Deals is great for comparing points programs, but they are only worth it if you are paying off your balance each month. Otherwise interest payments will quickly outweigh any "rewards".
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ces
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Mon, Feb 23 2015, 10:30 pm
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I agree - these rewards are only worthwhile for those who pay off the balance in full every month. Any cash back or reward you get is going to be easily outweighed by interest. If you're a rookie I would recommend the Citi 2% cash back card. Easy and simple to deal with, no annual fee, no need for a special account, no miles to sell or figure out how to use. Then put that cash back in a separate account to be used for "extras"
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loveandpeace
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Tue, Feb 24 2015, 12:43 am
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I'm with Jewishmom8 save urself while u still can. Coming from the other side I'm tellin ya it's NOT WORTH IT.
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