Here's an interesting site that came up on FlyerTalk: Credit Card Tune Up allows you to input your monthly spend on various categories and evaluates the annual cash reward you'd get with one or a combination of cash-back credit cards. Comes with helpful mouseover documentation.
It seems to favor Driver's Edge for the 6% rebate, pointing out that other cards' rebate terms are so volatile anyways that a one-year limit isn't that big a deal.
Choosing the best rewards credit cards to maximize your Cash Back can be daunting. There are hundreds of credit cards to choose from and their reward structures are a complex mix of tiers, limits, and categories. New credit cards come out all the time and the rewards structures of existing cards change as well.
The Credit Card Tune-Up tool makes all of that easy. Just plug in how much you spend each month, press Enter, and you'll be presented with a list of recommended cards sorted from best to worst by your expected annual reward. If having more than one credit card and using each card to its strengths could yield a greater annual reward, then each of the best N-card combinations is presented in columns labeled "Best N-Card Combo".
Message edited by: joelmeu on 2006-10-26 22:34:48 CDT
Hc000 said:Intresting website... for some reason, I can't seem to get AMEX cards as a recommendation, even when i spent 15,000 a month...
Really? I got it to recommend it no problem. Just put in $5,000 a month in groceries and no card with caps can compare.
The reason why $15,000 in general spending a month doesn't recommend AMEX Blue Cash is because 2%>1.5% I thought that was obvious. Did you even look at what card it recommened over the AMEX for general spending?
Certainly an interesting site, I'm not sure if I agree with the Driver's Edge 1 year idea. Obviously the person who runs it makes their money off the referral bonus ($50 or so per approved card) that they get from you applying through their link. Unless you are feeling really generous, you should still apply through cardoffers.com.
I think this website is great. Not that I would use it primarily, I do my own calculations. However, there is now a polite way of answering everyone who comes onto this forum and thinks their entitled to a personalized answer to "What credit card should I get?". Now a link to this website should end the thread.
One interesting thing I noted from the site: not only does juggling more than two cards prove to be a hassle in everyday life, it also rarely nets you much marginal gain in rebates.
Re: CardOffers. Search around; the consensus seems to be that it works (for Citi and AMEX, don't think they give cash for Chase apps) but it takes a long time.
paytonc said:One interesting thing I noted from the site: not only does juggling more than two cards prove to be a hassle in everyday life, it also rarely nets you much marginal gain in rebates.yeah, I carry only one card for everyday usage (a 1%/5% card) and its a ton easier with only slight $$ loss.
The simplest and most profitable use of CCs , with least hassle, is to use one good CashBack card for everyday usage, and use the rest for 0% profiteering and signup bonuses.
SUCKISSTAPLES said:paytonc said:One interesting thing I noted from the site: not only does juggling more than two cards prove to be a hassle in everyday life, it also rarely nets you much marginal gain in rebates.yeah, I carry only one card for everyday usage (a 1%/5% card) and its a ton easier with only slight $$ loss.
The simplest and most profitable use of CCs , with least hassle, is to use one good CashBack card for everyday usage, and use the rest for 0% profiteering and signup bonuses.
OK site, although its overrates that Drivers Edge card. I carry multiple rewards cards, figuring the extra cards not only get me more rewards, but also pads my total credit limit so I can be more aggressive with my balance transfer cards.
cameron2003 said:SUCKISSTAPLES said:paytonc said:One interesting thing I noted from the site: not only does juggling more than two cards prove to be a hassle in everyday life, it also rarely nets you much marginal gain in rebates.yeah, I carry only one card for everyday usage (a 1%/5% card) and its a ton easier with only slight $$ loss.
The simplest and most profitable use of CCs , with least hassle, is to use one good CashBack card for everyday usage, and use the rest for 0% profiteering and signup bonuses.
OK site, although its overrates that Drivers Edge card. I carry multiple rewards cards, figuring the extra cards not only get me more rewards, but also pads my total credit limit so I can be more aggressive with my balance transfer cards.
I think the number of cards definitely goes to what is worth your time personally and you own personal spending habits.
I like to carry three cards. Not only does it help my get the most Cash Back, but it helps keep 3 cards "active" on my credit report which is good because I've heard credit cards that are opened but not used somehow don't count as much on your report. (I hope I'm not spreading another financial urban myth!)
--5% gas/groc/pharm --5% restaurant/movie/bookstore --2% general purpose
It turns out the restaurant card only earns me about $50 more per year than if I used the general purpose card. Oh well, it really isn't that big of a deal for me to carry three cards in my wallet. Even if I totally screw up and use the wrong card, which is very rare, I'm always getting at least 1%.
disclaimer: when I list the cards I used I generally get a spurt of PMs asking for the cards. The first two are found in FFGuru's 5% thread. The last one is invite only, sorry.
asdf9876 said: disclaimer: when I list the cards I used I generally get a spurt of PMs asking for the cards. The first two are found in FFGuru's 5% thread. The last one is invite only, sorry. You could just flat out say it instead of trying to be secretive - it isn't some big secret that is going to make the cards not be accessible anymore if you share. I'll go out on a limb here and say 1) Chase 5% Card (either one) 2) Citi mtvU (not really Cash Back, especially now that they changed the point values for $50 GC's) 3) HSBC Household 2% (could always use Fidelity 529 card here for those without an invite)
Xeon852 said:asdf9876 said: disclaimer: when I list the cards I used I generally get a spurt of PMs asking for the cards. The first two are found in FFGuru's 5% thread. The last one is invite only, sorry. You could just flat out say it instead of trying to be secretive - it isn't some big secret that is going to make the cards not be accessible anymore if you share. I'll go out on a limb here and say 1) Chase 5% Card (either one) 2) Citi mtvU (not really Cash Back, especially now that they changed the point values for $50 GC's) 3) HSBC Household 2% (could always use Fidelity 529 card here for those without an invite)
Sorry if I didn't feel like spoonfeeding people. I wasn't being secretive. If you are so lazy that you can't look FFGuru's 5% thread then you didn't really need it. By the way, within 6 months of BoA Power Rewards getting popular (having its own thread) on this forum it died. There were people on here who had cycled through multiple thousand dollar rewards so it could have been a contributor.
I get better than Cash Back with Citi mtvU. I always grabbed the $100 gift card before but now I get plane tickets at greater than $.01/point. But the $100 GC would be fine, I don't see what all the belly aching about the $50 is about, if you can't reach $100 in 5 years then you shouldn't be using this card anyway.
Fidelity 529 doesn't require an invite does it does require a semi-major commitment of ether a very large minimum investment or a monthly commitment to put non-reward money into this account. I generally don't like to let CC rebates dictate my investment strategies.
If those cards are so easy to find, how come I constantly get PMs about how to find these cards?
asdf9876 said:Sorry if I didn't feel like spoonfeeding people. I wasn't being secretive. If you are so lazy that you can't look FFGuru's 5% thread then you didn't really need it. By the way, within 6 months of BoA Power Rewards getting popular (having its own thread) on this forum it died. There were people on here who had cycled through multiple thousand dollar rewards so it could have been a contributor. Could have...but I'm willing to bet it has more to do with the consolidation of all BOA credit cards under FIA Card services (MBNA) and the move to World Points. I get better than Cash Back with Citi mtvU. I always grabbed the $100 gift card before but now I get plane tickets at greater than $.01/point. But the $100 GC would be fine, I don't see what all the belly aching about the $50 is about, if you can't reach $100 in 5 years then you shouldn't be using this card anyway. I redeem my points for flights as well, as you'll see in my post about the changes to the program. However, I earn more than 5000 TY Points in a year from various other cards (not just bonus's). Other than bonus's, it sounds like you only earn about 6000 points a year (if you get $50 better by using that card), which is 4 or 5 years until a free domestic flight, and 2 years for a $100 gift card. Fidelity 529 doesn't require an invite does it does require a semi-major commitment of ether a very large minimum investment or a monthly commitment to put non-reward money into this account. I generally don't like to let CC rebates dictate my investment strategies. Agreed - which is why I use their 1.5% card, but for some that want that extra 0.5% or have kids anyways, it may be worth it. If those cards are so easy to find, how come I constantly get PMs about how to find these cards? People are lazy, and that’s it. Why not just post them? Its one thing to get annoyed with people creating new threads about stupid things, but to just be a a**hole and try to purposely make it harder for someone to find information is just stupid. I'll agree they should search and find out for themselves - but why not just post it and make life easier?
Xeon852 said: Other than bonus's, it sounds like you only earn about 6000 points a year (if you get $50 better by using that card), which is 4 or 5 years until a free domestic flight, and 2 years for a $100 gift card.
I have no problem cashing in. I earn about 38,000 TY points a year. I threw out the $50 as the marginal increase over using the next best alternative card but does not represent the only way I get TY points.
but to just be a a**hole and try to purposely make it harder for someone to find information is just stupid.
Thanks for the pointless name calling. I was hoping to spur people to find the 5% thread and find the best card that works for THEM, not just copy my strategy. But if you want to call me an a**hole that is your right. Please try to keep the name calling to a minimum, it really isn't necessary.
Citi Dividend Platinum (Now Diamond Preferred rewards) for gas, grocery, drugstores. - 5% Cash Back Citi MTVu for Restaurants, movie theatres, bookstores etc. - 5% CashBack Advanta business platinum for all utility bills - 5% CashBack Starwood AMEX for all misc expenses
Incremental benefits over using just a single 5%/1% card:
By using MTVu card incremental benefit about $100/yr and when my wife gets 4.0 GPA it is an additional $20. By using Advanta card incremental benefit $240/yr (my gas/electricity/water/cell/VOIP/internet/Cable TV add up to approx. $500/month) With Starwood AMEX the incremental benefit is hard to figure out but 1.25 aadvantage miles conversion and India tickets for 75K miles definitely makes it worth atleast 2%. Not to mention the subjective benefit of crossing threshholds and my desire to reach a lifetime million miles status on AA. (currently 700K)
Hence net incremental savings atleast $500/year over a single 5/1 card. Effort is just minimally more of remembering to take out the right card - more of a habitual thing. Don't have to carry the Advanta card as all utility payments are on autopay. Only complaint is some places don't take Starwood AMEX especially State Farm for auto and home insurance.
Some odd categories there... vehicle rental? Web advertising and hosting?
Anyway, while we're listing our preferred cards...
Advanta 5% utilities Chase Rewards+ 5% gas, grocery, drugs Citi MTVu 5% restaurants, fast food, etc all other purchases on my AMEX (0% on purchases till August '07, so effectively a >4% reward right now) and my MBNA NCL 3% card, for all other purchases that don't take AMEX
This means that my RBS CustomCash card doesn't get used much anymore (though I try to use it if a large purchase comes up in any given month, since it pays out sooner than the MBNA card), and my Household 2% and Fidelity 529 cards are essentially inactive.
Incremental benefit: I have activity with Chase, Citi, AMEX, and MBNA, so I (hopefully) avoid adverse actions that they may normally consider for people (like me) who carry 0% balances at nearly 100% utilization (on their other cards).
asdf9876 said:Xeon852 said:asdf9876 said: disclaimer: when I list the cards I used I generally get a spurt of PMs asking for the cards. The first two are found in FFGuru's 5% thread. The last one is invite only, sorry. You could just flat out say it instead of trying to be secretive - it isn't some big secret that is going to make the cards not be accessible anymore if you share. I'll go out on a limb here and say 1) Chase 5% Card (either one) 2) Citi mtvU (not really Cash Back, especially now that they changed the point values for $50 GC's) 3) HSBC Household 2% (could always use Fidelity 529 card here for those without an invite)
Fidelity 529 doesn't require an invite does it does require a semi-major commitment of ether a very large minimum investment or a monthly commitment to put non-reward money into this account. I generally don't like to let CC rebates dictate my investment strategies.
If those cards are so easy to find, how come I constantly get PMs about how to find these cards? re fidelity 529, you consider $50/month a semi-major commitment? my 529 card has been getting over a 2% CashBack since its in a fund doing quite nicely, along with $50 a month (which I could pull out at any time)
Anyone factor in the Auto Rental insurance coverage? Or Trip cancellation on Airlines? I alternate between my Citi 5%/1% (limit of $300/year Cash Back) and Chase 5%/1% for gas, grocery, drug. I'll take another look for everything else. Thanks.
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I thought that was obvious. Did you even look at what card it recommened over the 
