[RothwellSF]

Originally Posted by RickFLM4

I have one of those citi cards but I haven’t used it much. They recently changed it on me from 2% cash back to Thank You points. Not sure how the Thank You points work - maybe they can be converted to cash back.

Yeah the thank you points still are equivalent to 2% cash back, they can't change the terms of the contract, however, they are just trying to trick people into redeeming them for other rewards than cash, so they make more money. For example, if I redeem for Amazon credit, I only get like 1.5% or 1.75% instead of 2%. The alternative rewards (other than cashback) are a way they try to trick people by using big numbers, hence why they switched to "points". For example, if you have 100,000 points, that would be worth $1000 dollars. But if they say you can redeem 250 dollar gift card for amazon with 30,000 points. They are hoping you don't realize the spread between the cash back (which would be $300 if you take the cash option) vs $250 if you take the gift card.

You get 1 "point" for every dollar you spend, and 1 "point" for every dollar you pay off. So essentially 2 "points" per dollar. Those points are "redeemable" for cash the same way it was before, but instead of just only getting cash back, they converted to a points system to try to trick people into redeeming for lesser amounts. Its a scam, stick to only redeeming for cash back.

[damnitBobby]

Yeah my wife has that 2% back citi card. It is a pretty good deal if you use it a lot and there is no annual fee. I also noticed how they changed it up by calling them Thank you points lol.

I have AMEX (blue card I think?), Amazon Visa, and Discover. No annual fees on any of them and I pay off the balance in full each month - so for my personal situation credit cards are definitely worth it over using cash. I get the most rewards/points from my Amazon card because I'm constantly buying stuff on there. The Discover card also get's me a good amount of cashback because I'm always mindful of the current 5% cashback offers.

The AMEX definitely nets me the lowest in rewards/perks. But the one thing I will use AMEX for is if I'm making a transaction that I think might lead to a dispute. AMEX will always side with the cardholder, at least from my experience.

[allinon72]

I fly weekly so the Amex Skymiles Platinum works out pretty good.

[evil-G-nius]

I have an Amex Clear (Forget what it actually is called), Amex Gold & Chase Freedom Preferred. I use my Gold the most and I am like it. They keep trying to get me to upgrade to Platinum but IMO its not worth it. When I compared the perks, they were very similar with a few exceptions and those exceptions were not anything that I felt I was going to use. The $100 credit on flights is great, essentially free food and drinks. Amex has great customer service and perks...better than the other cards I have seen. I'm happy with em

[Nuckle]

AMEX for 20 years, switched to the apple card about 8mo ago. Get 1-3% cash in my apple wallet and an extra 1% if I use Apple Pay at POS. Amazon card for Amazon purchases and Hilton Honors card (Amex) for hotel stays. I charge around $130k per year and have never been able to justify the platinum card. I had the gold a couple years when it was free then $200 annual for the second. Then it went up and I dropped it.

[Alpine300zhp]

Originally Posted by RickFLM4

I don't have fees on any credit cards. I just don't think they are worth the premium over no fee card with points for us. I never carry balances and use one card for recurring bills and a different card for store / online purchases. I use Discover for whatever they are giving 5% cash back on. I have 3 others that never get used unless they have some special promo on points that make them worthwhile. I don't have any store or gas cards and no AMEX.

This. I gave up the Amex Platinum card years ago and only use no-fee cards. Like the OP, I ended up realizing that the points on my Amex didn't add up to enough to make the yearly fee worth it.

[RockCrusher]

Since 2008 i have had an AMEX Optima Platinum card. Not sure where this card ranks but probably at the bottom in terms of status. But no annual fee.

I use it for most of my credit card purchases only falling back to a Visa card if the business doesn't accept AMEX.

Every once in a while I use the rewards points to pay for some charges. I don't know what the pay back is.

Seem to recall I got the card just in time for a business trip to Switzerland, Netherlands, and England. Used the heck out of it. 'course my employer reimbursed me once I got back to the office and submitted an expense claim. But the card worked very well.

Made heavy use of the card on road trips between CA and points east. Gasoline. Hotels. Food. No problems. AMEX had no problem with my using the card in some cases in 3 different states as I made my way east or west in my car.

Some years ago I had some fraudulent charges show up on the statement. The card was used for purchases and getting cash back (how that works I don't know as I have never used a credit card as a cash back card) at some businesses in the CA central valley when I was hundreds of miles from there.

Of course I called AMEX customer service and to my relief the spurious charges were removed with just a phone call.

Had something similar happen with my Wells Fargo VISA card. Had to fill out paper work/forms and jump through other hoops and finally the VISA card fraudulent charges were removed.

I'm really happy with the AMEX card. I dropped the WF VISA card -- well I have it but never use it and won't activate the card when I get a new one -- and have a Capital One VISA card to use when the AMEX card is not accepted.

Capital One is ok but I really don't use it that much. But no problems with it.

[F32Fleet]

Amex Platinum Skymiles has been pretty good for my household but I live in Atlanta which is the main hub for Delta Airlines. We use it for everything possible.

I think we've had a companion ticket every year.

[RickFLM4]

Originally Posted by RothwellSF

Yeah the thank you points still are equivalent to 2% cash back, they can't change the terms of the contract, however, they are just trying to trick people into redeeming them for other rewards than cash, so they make more money. For example, if I redeem for Amazon credit, I only get like 1.5% or 1.75% instead of 2%. The alternative rewards (other than cashback) are a way they try to trick people by using big numbers, hence why they switched to "points". For example, if you have 100,000 points, that would be worth $1000 dollars. But if they say you can redeem 250 dollar gift card for amazon with 30,000 points. They are hoping you don't realize the spread between the cash back (which would be $300 if you take the cash option) vs $250 if you take the gift card.

You get 1 "point" for every dollar you spend, and 1 "point" for every dollar you pay off. So essentially 2 "points" per dollar. Those points are "redeemable" for cash the same way it was before, but instead of just only getting cash back, they converted to a points system to try to trick people into redeeming for lesser amounts. Its a scam, stick to only redeeming for cash back.

They have been spamming me to try to switch to a different card. I look at this and wonder why anyone would do it.

[OkieSnuffBox]

Originally Posted by RockCrusher

Some years ago I had some fraudulent charges show up on the statement. The card was used for purchases and getting cash back (how that works I don't know as I have never used a credit card as a cash back card) at some businesses in the CA central valley when I was hundreds of miles from there.

Many cards have a PIN that you can use to get cash advances with.

[aj_g80]

good thread. I have the card as well, probably not utilizing it as i should. If they raise again will probably cancel.

[Burnt C6]

I have a Corporate AMX. I pay the $95 Fee to get the points instead of it going to the company. I use it for all company travel and any major purchase I make through the year. I get about $500 worth of gift cards out of it every year. My company forces us to use it for business expenses. I told them 13 years back when I started here that I would be using it just like I would my preferred card to travel on and get the points for myself.

[RothwellSF]

Originally Posted by RickFLM4

They have been spamming me to try to switch to a different card. I look at this and wonder why anyone would do it.

For anyone who spends around 50K + on their CC per year. A 2% cashback card is going to be the best all around card. The rotating categories on some cards where it's 5% for a month on one thing and then 1 % on the rest, are not worth it. Plus, if you look at the fine print, usually there is a cap on the 5% you can redeem. For example, only 5% of 5000 or 10000. Before I got the 2% double cash card, I looked at a card from Alliant which was 2.5%. However, the fine print, said that you get 2.5% cashback on purchases up to 10,000 per month, and 0% over 10,000 spend. So it's really not worth it unless you know you will spend less than 10k a month. (this was about a year ago, now they will give you 1.5% on anything over 10,000. )
It's actually a really good card, from what I can see. No foreign transaction fees, no annual fee. But you need like 750+ credit score at least to qualify. However, you do have to have an account with them, I think.

https://www.alliantcreditunion.org/b...r=credit-cards

[Hawkeye]

Originally Posted by RothwellSF

For anyone who spends around 50K + on their CC per year. A 2% cashback card is going to be the best all around card. The rotating categories on some cards where it's 5% for a month on one thing and then 1 % on the rest, are not worth it. Plus, if you look at the fine print, usually there is a cap on the 5% you can redeem. For example, only 5% of 5000 or 10000. Before I got the 2% double cash card, I looked at a card from Alliant which was 2.5%. However, the fine print, said that you get 2.5% cashback on purchases up to 10,000 per month, and 0% over 10,000 spend. So it's really not worth it unless you know you will spend less than 10k a month. (this was about a year ago, now they will give you 1.5% on anything over 10,000. )
It's actually a really good card, from what I can see. No foreign transaction fees, no annual fee. But you need like 750+ credit score at least to qualify. However, you do have to have an account with them, I think.

https://www.alliantcreditunion.org/b...r=credit-cards

This is not true at all. You can't know what is the best without knowing what people spend on. If you are spending most on travel/food/drinks then the Chase Sapphire Reserve is a much better card (4.5% cash back on each of those categories with the cash back bonus they have been doing for the past year or two). If you book your travel through the Chase portal it is equivalent to 15% cash back.

It is not hard to put together a spreadsheet of benefits and see what is worth it for each individual. I spend less than $50k a year and the Chase Sapphire Reserve is a clear winner when compared to normal 2% CB cards.

[x622]

If you guys aren't on the myfico forums and gaming your credit and spending limits as much as possible you're limiting yourself.f

Imagine if you will that there are a group of people who are nothing but enthusiasts about abusing the credit system as much as possible and eeking out every single reward, the highest spending limits and terms. Go learn from them and discover how to use credit to your advantage and then do the same thing with entities and LLCs.

[Tyga11]

Originally Posted by x622

If you guys aren't on the myfico forums and gaming your credit and spending limits as much as possible you're limiting yourself.f

Imagine if you will that there are a group of people who are nothing but enthusiasts about abusing the credit system as much as possible and eeking out every single reward, the highest spending limits and terms. Go learn from them and discover how to use credit to your advantage and then do the same thing with entities and LLCs.

Do you still have your M5CS? I haven't seen ya around in awhile.

Thanks for the suggestion - that's a good idea!

[x622]

Originally Posted by Tyga11

Do you still have your M5CS? I haven't seen ya around in awhile.

Thanks for the suggestion - that's a good idea!

Traveling plus it's been so hot I haven't been taking it out as much. My neighborhood got flooded out pretty good so the roads are covered in rocks/dirt so another reason not to take it out.