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So what's the deal with people saying that getting business cards doesn't hit your credit? I just got the TrueEarnings business and the Chase Professional business card and they both did a hard pull.

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daregan said: So what's the deal with people saying that getting business cards doesn't hit your credit? I just got the TrueEarnings business and the Chase Professional business card and they both did a hard pull.

I'm sorry you were misinformed. If you give your SSN# they will do a hard pull on your credit report. What they meant by not being on your credit report is the new account will never show up on your credit report and you can run your balances out to 99% of your credit limit and it won't change your personal credit score 1 point.

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Nm. Dang Puffy, you're quick.

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ScootyPuffSr typed: [Q= said: daregan]So what's the deal with people saying that getting business cards doesn't hit your credit? I just got the TrueEarnings business and the Chase Professional business card and they both did a hard pull.

I'm sorry you were misinformed. If you give your SSN# they will do a hard pull on your credit report. What they meant by not being on your credit report is the new account will never show up on your credit report and you can run your balances out to 99% of your credit limit and it won't change your personal credit score 1 point.Ah, interesting, so for example, if I get a 0% BT Citi non-business card, and a 0% BT Citi business card, it would be to my advantage to do the BT on the business card, as it won't destroy my credit? (all other things being equal)

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Warder4545 said: I'll try asking here first so as to not start a repeat thread.

I've had 1 CC for 7 years now, citi finally sent me notice that it was being discontinued. The replacement they sent me is a Diamond Preferred Rewards AM-EX card.

Depending on your spending profile, you can probably do much better than that card for rewards. (e.g. Am-Ex Blue Cash, Citi Driver's Edge, etc.)

So I was hoping for some help finding a visa or mastercard as there are a lot of cards out there. With what little I know of the CC rewards here are some things that might narrow it down.

* I don't drive or fly a lot
* I buy at least 40% of my purchases online
* The rest is usually food / gas / healthclub/Net Flix subscriptions
* I pay off my bill every month so low interest rates are not a big seller

Well, the answer depends on how much of "food" is on restaurants versus grocery stores versus "discount" stores that sell groceries but don't qualify as "grocery" merchants (e.g. Sam's Club, Meijer, Wal mart, etc.). It also depends on how much you spend on gas since you mentioned you don't drive a lot.

The easiest way to see which rewards credit card will pay you the most is probably to just plug your spending profile into this rewards calculator:
Best Rewards Credit Card Calculator

You'll likely want to consider Am-Ex Blue Cash (as a replacement for your other Am-Ex), Citi Driver's Edge MasterCard, Citi Professional, Fidelity Investment Rewards Signature Visa, and Chase Freedom, to name a few.

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joelmeu said: The easiest way to see which rewards credit card will pay you the most is probably to just plug your spending profile into this rewards calculator:
Best Rewards Credit Card Calculator

You'll likely want to consider Am-Ex Blue Cash (as a replacement for your other Am-Ex), Citi Driver's Edge MasterCard, Citi Professional, Fidelity Investment Rewards Signature Visa, and Chase Freedom, to name a few.


One word of warning about that calculator... last time I checked, the algorithm for AMEX Blue Cash didn't adjust for the fact that most people would have similar spending habits every month. E.g., if you look at the default example, gas spending is given 1% for the whole year, even though the gas you buy later in the year (after $6500 total spending) will get you 5% back. (It's counting the whole $2400 in yearly gas purchases toward the first $6500 in total spending.) You'll want to use the Blue Cash calculator on the AMEX site to get a better estimate.

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I just added a new category, "fringe benefits". Basically anything you like about a credit card other than Cash Back, points, or miles could go here.

Maybe someone who knows about free rental car insurance could add their favorite card or two. I know I would be interested in that.

So far I just have free roadside service with Am.Ex Gold and free concierge service with Schwab.

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ScootyPuffSr said: I just added a new category, "fringe benefits". Basically anything you like about a credit card other than Cash Back, points, or miles could go here.

Maybe someone who knows about free rental car insurance could add their favorite card or two. I know I would be interested in that.

So far I just have free roadside service with Am.Ex Gold and free concierge service with Schwab.


Visa and Master Card are offering concierge services with many of their cards. I don't know if this is such a great deal as they probably make money by selling services like travel agents used to getting a commission, to they may not be offering good deals, just convinience, which may be costly.

Someone should do a head to head comparison of these guys against American Express.

"I need 50 yardline tickets to the Superbowl, travel arrangements, fancy dinner reservation." and rate them on performance and cost (and versus FW/Priceline/eBay).

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I've been thinking of getting the 5% Discover gas card, but I'm worried that many gas stations might not accept Discover CCS. Has anyone run into any gas stations that don't accept Discover?

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You may want to consider getting the Pentagon Federal gas rewards card instead.
I recently completed an AOR, and applied for this AFTER 14 inquiries hit, and they still approved me for it.
Here's a link, w/details below:
PenFed Platinum Rewards Visa Card

Visa Platinum Gas Cash Reward
Earn 5.00% Cash Back from gas purchases paid at the pump
Earn 1.25% Cash Back from all purchases* you make with the card during each billing cycle
No Annual Fee
Cash Rewards credited each month
No special restrictions to earn your cash rewards

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You're right, that does sound a lot better. Apparently, to qualify for it, I need to join the NMFA or the Society of Military Engineers, let me look into that and see what that is like.

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cardinalandgoldfan said: You're right, that does sound a lot better. Apparently, to qualify for it, I need to join the NMFA or the Society of Military Engineers, let me look into that and see what that is like.

Another alternative is the Costco/AMEX TrueEarnings business card, which now gives a 5% rebate on gas. No annual fee with your Costco membership. (You also get 3% back on restaurants, 2% on travel, and 1% on everything else.) We've never had a problem with gas stations in our area accepting AMEX.

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madscribe said: Another alternative is the Costco/AMEX TrueEarnings business card, which now gives a 5% rebate on gas. No annual fee with your Costco membership. (You also get 3% back on restaurants, 2% on travel, and 1% on everything else.) We've never had a problem with gas stations in our area accepting AMEX.
Isn't it only the business version that gives the 5%?

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I am surprised that the AMEX Platinum Business Premium Cash Rebate Card didn't get any attention here. For people who spend a lot (e.g. business owners), this is an excellent card as it gives you the highest rebate rate I can find (and I did my research) for non-everyday purchases. Rebate structure as follow:

0-20,000: 1% on open saving merchants, 0.5% elsewhere
20,000-120,000: 5% on open savings merchants, 2.5% elsewhere
>12,000: 1% on open saving merchants, 0.5% elsewhere

Participating open saving merchants include fedex, Delta, Gateway, several hotel chains, etc.

I calculated the effective rebate rate as follow (not counting open savings bonus):
Spending Total rebate Rebate %
20,000 ..... 100 ..... 0.5
40,000 ..... 600 ..... 1.5
60,000 ..... 1100 ..... 1.83
80,000 ..... 1600 ..... 2.0
100,000 ..... 2100 ..... 2.1
120,000 ..... 2600 ..... 2.17

After 120,000, your rebate % drops, but I guess that's not an issue for most people

I got the card mostly because they had promotion for $250 account opening bonus and 6-mo 0%APR. Later I found it was an excellent card for me and started using it almost exclusively.

They used to give 3% bonus CashBack (open savings) for AMEX gift card purchase. There are some transaction fees for those gift cards, so effective CashBack bonus is about 2% if you buy 5,000 at a time. If you are already in the 20,000-120,000 annual spending bracket, then you earn a wopping 4.5% (2% open saving bonus plus 2.5% regular rebate) on the gift card purchases. They took that away early this year. Too bad! Please have them back, AMEX!

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jmz668 said: madscribe said: Another alternative is the Costco/AMEX TrueEarnings business card, which now gives a 5% rebate on gas. No annual fee with your Costco membership. (You also get 3% back on restaurants, 2% on travel, and 1% on everything else.) We've never had a problem with gas stations in our area accepting AMEX.
Isn't it only the business version that gives the 5%?


Yes. That's why I specified "business." I don't quite understand why they're not adding the gas rebate to the consumer card. Note that you can get a TE business card with a Gold Star (non-business) membership. I got one no problem. (There was some misinformation going around that a business membership was necessary.)

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I have a question about the Thankyou Network. How long does it take to get coupons from them? If I were going to target this afternoon can I go to their website and print out a coupon to use or can I just apply for one and have to wait two weeks for it to show up in the mail?

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It takes me about 7-10 business days to receive my gift cards from Target and Sears.

I'm not familiar with any type of coupon or print out coupon.

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chase rewards question - what's the most you've ever redeemed in cash? Is it only $300 a calendar year? I have 38k points right now - will they give me $380 back?

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ScootyPuffSr said: daregan said: So what's the deal with people saying that getting business cards doesn't hit your credit? I just got the TrueEarnings business and the Chase Professional business card and they both did a hard pull.

I'm sorry you were misinformed. If you give your SSN# they will do a hard pull on your credit report. What they meant by not being on your credit report is the new account will never show up on your credit report and you can run your balances out to 99% of your credit limit and it won't change your personal credit score 1 point.
MAybe they were thinking about AMEX business cards? Since you pay them off by the month, it's my understanding that they don't do a pull when you apply

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MisterMe said: chase rewards question - what's the most you've ever redeemed in cash? Is it only $300 a calendar year? I have 38k points right now - will they give me $380 back?


I've redeemed $600 in the form of 6 $100 checks using my Cash Rewards Plus.

I've redeemed a $250 check from Chase Freedom.

We would need to know what Chase card you have to give you specifics.

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My husband has had an American Express green card since the 70's. I hate paying the annual fees and realize there are better cards out there that are similar without the fees. What I'm wondering is if there is value in keeping it active for credit checks & our credit score? Thanks

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many credit card issuers will consider converting a card for you if you're thinking about closing it. I'm not sure how American Express is, but I didn't like my chase Amazon card and had it converted to a chase freedom card.

I was able to retain the longevity of the account but change it to a card worth using.

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klaang said: My husband has had an American Express green card since the 70's. I hate paying the annual fees and realize there are better cards out there that are similar without the fees. What I'm wondering is if there is value in keeping it active for credit checks & our credit score? Thanks

I'm going through something similar. I've been improving my credit and for the first time, I've gotten an invitation for an AMEX card. It's the green card and I'm wondering if its worth getting in that it's more likely to be upgraded or just wait for myself to have a better score to get me a AMEX blue card.

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klaang said: My husband has had an American Express green card since the 70's. I hate paying the annual fees and realize there are better cards out there that are similar without the fees. What I'm wondering is if there is value in keeping it active for credit checks & our credit score? Thanks

Just on "principle" alone, I would close it because I refuse to pay fees. Odds are he'll be just fine closing it. Is his second oldest card from the the 70s or 80s? Or is it from 2006?

I'm not sure about Am.Ex's policy of converting charge cards to no fee credit cards. That might not be possible, but it can't hurt to call and try. Even if you don't get it converted, being a loyal 30+ year customer, they might wave the fee for a year and you can decide next year.

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ScootyPuffSr said: klaang said: My husband has had an American Express green card since the 70's. I hate paying the annual fees and realize there are better cards out there that are similar without the fees. What I'm wondering is if there is value in keeping it active for credit checks & our credit score? Thanks

Just on "principle" alone, I would close it because I refuse to pay fees. Odds are he'll be just fine closing it. Is his second oldest card from the the 70s or 80s? Or is it from 2006?

I'm not sure about Am.Ex's policy of converting charge cards to no fee credit cards. That might not be possible, but it can't hurt to call and try. Even if you don't get it converted, being a loyal 30+ year customer, they might wave the fee for a year and you can decide next year.



I agree with you on paying the fees. We both have excellent extensive credit history's. We only carry two other credit cards. Merrill & Elan. Both opened within the last five years. Paid off monthly.

It seems like I asked about converting once and was told it was not possible. We would have to apply for a different card. Close the old one. I'm fine without an Am. Ex. at all.

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Any opinions on the AMEX clear 3.99 for life ?
Only purpose for the card would be for me to transfer over my existing balance on another card, and get it paid off as cheaply and quickly as possible.

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I am looking for a 0% for life credit card. Anyone have any links or phone numbers with promotion codes for these?

Or, if not a 0% for life, I am looking for something for 3.99 for life or under...

TIA!

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klaang said: My husband has had an American Express green card since the 70's. I hate paying the annual fees and realize there are better cards out there that are similar without the fees. What I'm wondering is if there is value in keeping it active for credit checks & our credit score? Thanks

I just closed mine this month. It was pretty much my oldest card too, but I never used it and the fee went up to $80.

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I recently signed up for two rewards cards from Citibank -- one MC and one AMEX (I only really wanted the first one, but I need an AMEX for Costco).

The MC offers 0% APR on transfers for the first 12 months. If I make a big purchase at Costco with my Citi AMEX, can I then transfer that balance to my Citi MC and have it be interest free for that time period?

I know I'll probably never get a clear answer from calling their support, so I thought I'd see if anyone here has done it.

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joelmeu said:
Depending on your spending profile, you can probably do much better than that card for rewards. (e.g. Am-Ex Blue Cash, Citi Driver's Edge, etc.)

Well, the answer depends on how much of "food" is on restaurants versus grocery stores versus "discount" stores that sell groceries but don't qualify as "grocery" merchants (e.g. Sam's Club, Meijer, Wal mart, etc.). It also depends on how much you spend on gas since you mentioned you don't drive a lot.

The easiest way to see which rewards credit card will pay you the most is probably to just plug your spending profile into this rewards calculator:
Best Rewards Credit Card Calculator

You'll likely want to consider Am-Ex Blue Cash (as a replacement for your other Am-Ex), Citi Driver's Edge MasterCard, Citi Professional, Fidelity Investment Rewards Signature Visa, and Chase Freedom, to name a few.


Thanks for the info.

After looking at a CC review site it seems like all the top rated cards with the best rewards are business cards. Since I have a small business would it make more since to just get a Am-EX and Mastercard/visa that are for business? or is having a personal CC good for some situations (ie purchases have to be business related on the business cards)?

If I do a combo I was looking at getting the Am-EX Blue for Business for good rewards and then some Mastercard/Visa with other benefits. I was looking at the Bank of America World MasterCard with WorldPoints (or the Platinum plus one, not sure the difference). I'm open to others that may not have the best rewards but good perks.

Thanks again.

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peter17319 said: I recently signed up for two rewards cards from Citibank -- one MC and one AMEX (I only really wanted the first one, but I need an AMEX for Costco).

The MC offers 0% APR on transfers for the first 12 months. If I make a big purchase at Costco with my Citi AMEX, can I then transfer that balance to my Citi MC and have it be interest free for that time period?

I know I'll probably never get a clear answer from calling their support, so I thought I'd see if anyone here has done it.


Citi will not let you do a balance transfer from one Citi credit card to another. So as you described it, no, I don't think that will work. You would need to get another brand of card.

For instance, get an Am.Ex True Earnings Costco credit card and then you could transfer the balance to a Citi card.

However, if you ask politely you can probably get Citi to send you a BT check which you can deposit in your own checking account.

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Money Magazines List of cards that pay big time rewards http://money.cnn.com/galleries/2007/moneymag/0705/gallery.cards_rewards.moneymag/

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ScootyPuffSr said: However, if you ask politely you can probably get Citi to send you a BT check which you can deposit in your own checking account.

Sorry, but could you explain that? I don't quite follow....

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peter17319 said: ScootyPuffSr said: However, if you ask politely you can probably get Citi to send you a BT check which you can deposit in your own checking account.

Sorry, but could you explain that? I don't quite follow....


You call them up and politely ask for some balance transfer checks to be sent to your house. You check your mailbox and when you receive them you carefully read the terms and conditions to make sure you will not be charged a cash advance. For bonus points, you call Citi and confirm. Then you get in your car and drive to your local bank. You make the check out to yourself and sign it. You deposit it and optionally transfer it to a higher rate account.

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I have some questions about "Worldpoints". Are all Worldpoints cards from BoA, or are some from other banks too? Is it just a meaningless BoA brand name, or does it mean something special, like Thank You points, where you can combine them from different cards? Do Worldpoints cards give competitive rewards, compared to rewards from other banks?

Did BoA recently do a mass mailing to all or most of its Visa cardholders, offering to convert their old BoA Visa cards to WorldPoints Visa Signature cards? Is it just meaningless advertising, or does it imply some kind of special status, such as how long you've had the card or something?

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anomie said: many credit card issuers will consider converting a card for you if you're thinking about closing it. I'm not sure how American Express is, but I didn't like my chase Amazon card and had it converted to a chase freedom card.

I was able to retain the longevity of the account but change it to a card worth using.



Update:

Just had my husband call to close. After telling us about the great benefits of the green card & then an offer of a $20 credit, which we rejected, she offered us to transfer to the Blue Card. 0% APR for 12 Months. Maintain the longevity of his member since 1970 status. I also got a card. I love it when things work out!

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nm

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anomie said: many credit card issuers will consider converting a card for you if you're thinking about closing it. I'm not sure how American Express is, but I didn't like my chase Amazon card and had it converted to a chase freedom card.

I was able to retain the longevity of the account but change it to a card worth using.


I wish I would have thought of this I have a chase card that does nothing for me and have since goten other cards that have rewards I could have just traded for a better Chase card! Thanks for the excellent advice.

As for the OP... I have quite a few rewards cards so far I'm really liking the Discover More card's Cash Back program. I have some that do gift cards... but I think the More card is much more practical. I'm in your same boat - I don't drive and fly that much so Cash Back and gift cards are more an ideal situation for me.

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FIA co-branded cards have been very good to me. Besides Chuck Schwab, Fidelity, and Merrill Lynch, does anyone know of any others?

mbna.com and bankofamerica.com didn't even list the three I already have. Is there a list somewhere?

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DickWhitcomb said: FIA co-branded cards have been very good to me. Besides Chuck Schwab, Fidelity, and Merrill Lynch, does anyone know of any others?

mbna.com and bankofamerica.com didn't even list the three I already have. Is there a list somewhere?


I am currently looking for the same answer --- if anyone has list or link please share it --- there are a lot of FIA (former MBNA) co-branded cards through regional banks/credit unions/organizations/schools/ect/

I sure some folks have searched through hundreds of these --- here is one example link
they generally having uncapped BT fee if 0% and $75 capped fee at 1.9% --- there might be a few gems out there to be found

also there are some co-branded Citi cards out there too with 0 bt fee (don't know if there is a list for those either)

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