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Re: Best cash back credit cards?
Old 10-09-2004, 06:19 AM   #21
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Re: Best cash back credit cards?

Seems like lending practices are still loose. I recieved a solicitation yesterday from for my USAA Visa card where they offered me 2.9% on balance transfers with no transaction fee for the life of the balance.

I have to make the monthly payment which is 2% of the outstanding balance each month and all is good. So I think I will just take the entire amount available on the card. I never use this card and always pay the balances of the cards I use each month in full.

Surely I can find something productive to do with money that is 2.9%.
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Re: Best cash back credit cards?
Old 10-09-2004, 07:14 AM   #22
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Re: Best cash back credit cards?

I'm using the following:
1. Discover Card - Gasoline Cash Back - 5% cash back on Gas purchases up to $1500/year - I only use it for gas.
2. AT&T Universal Mastercard - 1% Cash back on all purchases - 30minutes of free phone calls per month
3. REI Visa - 1% cash back on all purchases

I'm looking for a cash back card that does not have the 3% fee for foreign exchange transactions. If you find one let us know
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Re: Best cash back credit cards?
Old 10-09-2004, 10:40 AM   #23
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Re: Best cash back credit cards?

Quote:
they offered me 2.9% on balance transfers with no transaction fee for the life of the balance.
I take advantage of these often, but usually at 0%. Besides reading the fine print about the transaction fee, the things to look out for are:

1) Make sure you send yourself a reminder for the pay-off date. The card company won't tell you, and the rate will be astronomical if you miss the deadline.

2) Only use the card for the balance transfer, and don't put any charges on the card. When you make a payment, they typically pay off the lowest rate balance first, which means a purchase stays on the card and you continue to get charged a high rate until your entire transfer is paid off.
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Re: Best cash back credit cards?
Old 10-09-2004, 10:54 AM   #24
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Re: Best cash back credit cards?

Good Advice. I will make sure I do that.

Thanks!

JDW
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Re: Best cash back credit cards?
Old 10-09-2004, 01:08 PM   #25
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Re: Best cash back credit cards?

On the information I got from this board, I recently opened an account with MBNA. I got their platinum mastercharge card. It gives you a 10% cash back upto $25 per month until the end of June 2005. That an additional $25 x 7 months if you got the card this month.
I also have a citibank mastercharge which give me 5% on groceries and gas and 1% on everything else. Not bad for citibank.

MJ
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Re: Best cash back credit cards?
Old 10-11-2004, 02:26 PM   #26
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Re: Best cash back credit cards?

Although, I use my Citibank Aadvantage card for the airmiles mostly, I also have an Amex card (no annual fee) that pays you 1% back on the first $5000 annually and then 1.5 or 2% after that (can't remember). They also give bonus awards occassionaly for buying a certain amount of gas or groceries or dining out or whatever and I've picked up a few dollars there.

Also Citibank has a new card that will give you back 5% of purchases at gas stations (read the fine print), drug stores and grocery stores with no annual fee. This one sounds pretty good, except that (John Galt, I feel your pain LOL) they turned me down . It appears that just because I have a Visa card with a $245,000 credit limit (ok and some others) that they think I have too much credit , even though they don't seem to mind that I charge everything (and pay it off monthly) on THEIR Citibank mastercard. Toooooo funnny.
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Re: Best cash back credit cards?
Old 10-15-2004, 02:54 AM   #27
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Re: Best cash back credit cards?

Not quite the same thing, but PayPal has a money market account with debit card. I get reasonable returns on the MM balance, and 1.5% back on all purchases.
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Re: Best cash back credit cards?
Old 10-15-2004, 11:37 AM   #28
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Re: Best cash back credit cards?

Can you post a link? I've looked around paypal.com, but I can't find it.

Thanks!
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