What is the best credit card to recieve rewards?

Answer 1

I have Macy's Elite Star Rewards Plus VISA and Bloomingdale's Ultimate Premier Insider Plus VISA Both are by invitation only.

They gave you 1% cash rewards on anything you purchase outside the stores and 6% for purchases inside the stores. Plus after three months they will send you a $60 Credit certificate.

On top of that, you get tons of special offers for services within their respective stores, 5% rewards for travel, flowers and dinning out that are arrange from their Star Rewards Plus and Ultimate Premier Insider Plus websites.

Answer 2

The short answer is that the calculator tool at http://www.creditcardtuneup.com/ will tell you which card will pay you the most rewards for your spending profile (i.e. how much you spend in categories like gas, groceries, restaurants, etc.).

Read on for a long-winded answer if you care to...

Since the answer depends on how much you spend in various spending categories, there's no universal answer that's guaranteed to be the best for everyone. However, here are the strategies I suspect are most universally applicable:

Best Single Card

Because most people spend quite a bit on gas, groceries, and drugs (i.e. "EDP" (Every Day Purchases)) and there are several cards that offer 5%+ on EDP, usually a card that offers a 5%+ on EDP and 1%+ on non-EDP will be the single best card. Examples of such cards are the Driver's Edge (6% on EDP for the first year), AmEx Blue Cash (5% on EDP after $6500 YTD spending), and Citi Diamond Preferred Rewards (basically 5% (in ThankYou points) on EDP for first year). (The HSBC Direct Rewards card was 5% cash back, but is no longer accepting applicants.)


Two-Card Strategy

For someone who's willing to manage two cards, usually the best card to supplement the 5%+ EDP card will be a card that pays 1.5%+ on *all purchases*. The best I know of is the new 2% Cash Back card from Orchard Bank. However, Orchard Bank may or may not offer you the card without an annual fee. If you get an offer with an annual fee, it will likely be either $39 or $59. Also, most people only get up to a $2K credit limit on the 2% Cash Back card, though I have heard of people getting their limit increased a little over $2K. I suppose if you're willing to make payments more frequently than monthly, then the credit limit isn't a limiting factor. The next best card after the Orchard Bank 2% Cash Back card is the 1.5% card from Fidelity.


Three-Card Strategy

If you're willing to manage three cards, then the third card to add to your portfolio will depend on the categories in which you spend the most money. Well, really that's true for even the first and second cards, but the advice I've given up 'til now is *often* optimal, but not always -- it always depends on your spending profile.
Anyway, if you spend a lot at restaurants, then you'll probably want something like the Citi Professional card which pays 3% back at restaurants. If you spend a lot on utilities (and can do so through your credit card), then you might want to check out the Citi Home Rebate card (6% on utilities for the first 12 months). If you spend a lot on home improvement, the Chase Home Improvement Rewards card pays 3% back on home improvement. If you travel a lot, there are other good cards. If you spend a lot on office supplies, other choices. If you spend a lot on internet/web/advertising, still other options. And the list goes on.


Optimal N-Card Strategy

Figuring out the optimal 1 card, 2 cards, 3 cards, etc. for your spending profile actually requires a lot of research and math. The calculator tool at http://www.creditcardtuneup.com/ will do the number crunching for you. It'll estimate your earnings from the best 1 card, best 2 cards, best 3 cards, etc. Then you can decide on the "sweet spot" for the rewards/hassle tradeoff.

Answer 3

The types of rewards are as follows:

Cash Back: 5% by Amex, however they no longer offer this but have grandfathered the people who already had it. They all now offer 2% cash back, Chase, Citi, Amex, Discover.

Airlines Miles: Amex currently offers the best deal in mu opinion dollars/miles. Citi a very close 2nd.

Things/Catolog: Citi PP Card lead's that pack, I have this card, however this card does not report credit limits so make sure you PIF at the statement leave no balance of it will hurt your debt/aval credit ratio.

Gas: I'd have to say the Citi Drivers Edge. I have this cars and love it!

Over All Best Card: Citi Diamonds Prefered: Low interest, I have this card too. It's a very attractive card (Bright Silver). It reports credit limits to the CRA's (all 3) and great rewards.

Some will say Amex is the best: However the problem with Amex is the way they report. They are typically 3-4 Month';s behind in reporting to the CRA's...so if you had a balance in August it just NOW would be reporting this...thusly artifically LOWER your credit scores

Answer 4

I don’t think of that paying your very own loan charge on your credits card is the neatest element. credits enjoying cards create a cycle of debt. your place is a important motor vehicle for development wealth, and area of this wealth is taking benefit of the tax decrease value fees and the fairness. The pastime money on credits enjoying cards can do away with the advantages for taxes, and might even carry approximately making a great debt which you may choose to take out a house fairness own loan to triumph over. some own loan agencies won’t even assist you to pay it with a credits card through this.

Answer 5

Citi Diamond Preferred offers 5 points/dollar back on gas, groceries and drug store purchases for the first year and 1points/dollar on all other purchases. After the first year, it is 1 point/dollar on all purchases. Good selection of rewards to redeem also.

National City also has an excellent card: 4% cashback on gas purchases plus 3% on dining (including fast food) and 2% on groceries.

Answer 6

I like my Chase Rewards visa card.

Answer 7

best credit card for rewards is american express, or citi card

Answer 8

It depends on how much you spend on the card annually. If you spend less than about $10,000 USD, it's BP Visa Card. If you spend more than that amount, it's Blue Cash from American Express.

Answer 9

Please see the link below. It compares credit cards based on your preferences.

Answer 10

SEARS