We only have one credit card because we are not proponents of debt. In fact, we pay it off every month. So choosing just one card was a tough choice. There are a lot of rewards credit cards out there. You can get gift cards, points to buy discounted items, or cash back! Cash! We decided that last option sounded the best. So we started looking and stumbled across Chase Freedom. It is wonderful. We get 1% cash back on every single purchase. And then 5% cash back on different categories each quarter. This quarter includes groceries and Starbucks and I think next quarter includes gas! Since we pay off our card each month, we are getting paid to use it! Usually somewhere between $15 and $30 a month! Sometimes even more than that! If you are looking for a good credit card, you should definitely consider one that gives cash back. Have you used a cash back credit card? Which is your favorite? And why?
I had both a TD Banknorth card, and a Bank of America cash reward card. I found the Bank of America card to be a little more of a hassle to redeem points, so I ended up just sticking with a TD Banknorth card. I would usually earn about $200 a year in points, and would use that for Christmas shopping. I don't currently have any cards now. I wanted to downsize my payments per month.
I have a Capital One credit card that gives 1% cash back on everything. Not really sure which one. I don't make anywhere near what you do though, only a few pennies a month. $15-30 back would mean spending $1500+ That's over double what I make, and triple what I'm even allowed to borrow lol. But if you spend a lot of money, that seems like a pretty great deal. I've gotten about $5 in a couple years myself. I often forget to use my credit card. I only use it for building credit, so it's more of a chore since I have to remember doing once a month. I prefer just using my PayPal card.
We have the same Capital One card as you Shermanbri. It absolutely is the best reward plan out there! We do the same thing, buy everything on the credit card and pay it off weekly. It is unbelievable they really do pay you to use the card. I guess they are hoping they'll snag some new folks who leave a balance and get charged the interest.
I was offered a credit card from a bank in my country and in my mind, I have completely turned down the offer. The card I was offered is a cash back card and they propose to give a 0.25% cash return to you for using the card, Unfortunately, the terms under which the card is offered to me was not best suited for me at this time. I need a Visa Debit, one that give me travel point, travel insurance and cash back!
