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Credit card update
Old 05-12-2006, 10:13 AM   #1
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Credit card update

Emigrant direct is offering a 1.4% cash back card, you have to maitain an acount with them with $10k in it, but they are paying 4.5% on your money. I'm looking into it. Any new credit card deals out there beat this?

http://www.emigrantdirect.com/
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Re: Credit card update
Old 05-12-2006, 10:25 AM   #2
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Re: Credit card update

Looks pretty cool.* Looks like they have a decent balance transfer deal too, although there is a 3% fee.

Hey anybody know of any other good balance transfer deals out there?* I don't want to liquidate any investments because I need to keep our income low so I can qualify to recharacaterize my traditional IRA to a Roth this year.* Long story, but the bottom line is I need to borrow money instead and would rather find a low interest credit card that tap into my home equity line which is currently Prime plus .5%.

It needs to be something other than CitiCards because that is the one I already have...

Any suggestions?
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Re: Credit card update
Old 05-12-2006, 10:31 AM   #3
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Re: Credit card update

Quote:
1.4% cash back card
why not 5% (drugs, gas, groceries etc) from Citibank, Chase & others and 2% Fidelity 529?
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Re: Credit card update
Old 05-12-2006, 10:35 AM   #4
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Re: Credit card update

Cool, you still get 0.5% back if you drop below $10k. The APR is fairly high, though.
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Re: Credit card update
Old 05-12-2006, 10:37 AM   #5
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Re: Credit card update

Quote:
Originally Posted by doushioukanaa
Cool!* Looks like they have a decent good balance transfer deal too, although there is a 3% fee.

Hey anybody know of any other good balance transfer deals out there?* I don't want to liquidate any investments because I need to keep our income low so I can qualify to recharacaterize my traditional IRA to a Roth this year.* Long story, but the bottom line is I need to borrow money instead and would rather find a low interest credit card that tap into my home equity line which is currently Prime plus .5%.

It needs to be something other than CitiCards because that is the one I already have...

Any suggestions?
Let's see, I have 0% BT offers with either no fee or a capped (3% max $75) from:

Citi
Discover
Washigton Mutual
Chase
Etrade Bank

Discover is maybe the most sloppy with the money. I suspect you could fish around on their website and find an offer to apply for. I just take the money and dump it into a money market.
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Re: Credit card update
Old 05-12-2006, 10:38 AM   #6
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Re: Credit card update

Laurence, www.creditcards.com has a summary of what offers are currently out there, but I don't know if it is a comprehensive list.

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Re: Credit card update
Old 05-12-2006, 11:07 AM   #7
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Re: Credit card update

That's a good site, this one wasn't on it. I have the 5% card already, but it has a $300 annual limit. I believe the 1.4% card has no limit, so my plan was max out the first and switch over to the second. Obviously, the emigrant card is no good for those of you who carry a balance month to month, but-who among us does that?
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Re: Credit card update
Old 05-12-2006, 01:06 PM   #8
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Re: Credit card update

Quote:
Originally Posted by Laurence
I have the 5% card already, but it has a $300 annual limit.
I think if you get the 5% card with points instead of cash back, the limit is much higher. Some people say they have both, I guess can max out the cash one then switch to points.

There's also a Fidelity credit card that pays over 1% cash back, or maybe more than one--see d's post above about 529. I think there's one that pays 1.5% without 529 plan too.

EDIT:
Oh, if you get a new card, especially from Citi or ATT, first see if there's a $100 gift card bonus for applying.
Can look here, among other places: http://www.fatwallet.com/c/52/
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Re: Credit card update
Old 05-12-2006, 01:55 PM   #9
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Re: Credit card update

Quote:
Originally Posted by Laurence
Emigrant direct is offering a 1.4% cash back card, you have to maitain an acount with them with $10k in it, but they are paying 4.5% on your money.* I'm looking into it.* Any new credit card deals out there beat this?
If you're a Fidelity customer you may be eligible for their brokerage's MBNA 1.5% cash-back card, and Cash Reserves MM is paying a seven-day yield of 4.55%. No minimum balance on the MM but you may have to have some minimum level of assets with Fidelity.
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Re: Credit card update
Old 05-12-2006, 02:16 PM   #10
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Re: Credit card update

Quote:
I have the 5% card already, but it has a $300 annual limit
get a second (or third or fourth) card! !!

Fidelity does have a 1.5% card (tied to the brokerage account), but why not go with the 529? -- you don't need to be actually funding someone's education.
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Re: Credit card update
Old 05-12-2006, 02:18 PM   #11
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Re: Credit card update

Quote:
have the 5% card already, but it has a $300 annual limit.
Yeah, but you can have more than 1. Amex blue cash is a good one if you spend more than 6500/yr. Household and Bofa both have some 2% cards, also.
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