Best Rewards Credit Card | Personal Finance & Lifestyle | Yakezie Forums

I was debating making this a post for all my readers to make suggestions, or keeping it to us PF bloggers…I decided I need a fairly quick answer since the charges will hit soon.

I know that in the next year I'm going to be having significant expenses, and I plan on using a credit card to pay for them so that I can get the rewards points.  I wont be carrying a balance so that wont be a factor…just charge it and pay it.  Probably 40k – 50K within the next 12 months. 

I have a Discover "More" Card, with their 5% cashback promises that have a million contingencies and really only pay back 1% most of the time. 

I have a Spirit MasterCard (issued through Barclay US)…they have disbanded from each other, and I have opted not to take either of their new cards, since customer service sucks with them!!! worst customer service I ever experienced in my life. Not to mention 1 spirit mile isnt worth jack…

I figured what better place to ask then all of you here…. what is the best rewards card I can get right now??? best promotional value at the moment???  Keep in mind that Delta Airlines has a hub in Metro Detroit Airport, so that may be a reason to look into them.

I wish I could help you but I live in Canada so we have different options. The Capital One Aspire card is supposed to the best at the moment.

My Bank of America 'Upromise' card is the best one for me. I get cash back on every purchase, and an additional amount for certain vendors (like Exxon Mobil), and all of that cash back goes toward paying off my student loans!

Suba @ Wealth Informatics said:

Justin, what are you expecting to spend the money on? That will make a lot of difference. I make around $2000-$4000 from cash back every year. But I do rotate cards based on what I spend on.

I use a credit card for all gas expenses.  However, the initial expenditures will be wedding related… venue, ceremony, photographer, florist, etc.  Then a decent amount on home improvement expenses later this year.

on which category you'are going to spend most? Your card selection should depend on that.

Most of the cards provide 1% cash back, thats a $500 cash back on 50K spend. You can maximize further by choosing the right category of cards. if you want to spend more on flights choose a card which gives maximum cash back on air travels. 

Chase freedom works great for me only when they offer 3% cash back on groceries, as my maximum spend any month is on grocery.

This is the precise domain I work on. if interested I will mail you details.

BTW this is nice post idea…will start working on tonight 

Im researching the suggestions as they come in! I appreciate all the help.

You know it's sad when I really think about…1% being the norm for cash back/rewards is just pitiful. 

Consider you want to go to Hawaii with your significant other… $5,000 in airfare alone? How much for hotel, spending, etc…? Id say a $10,000 trip on average.  I use Hawaii because it seems like one of those typical dream destinations.  I only know the rough airfare price during the summer because I was looking at it as a possible honeymoon spot….I looked at all inclusive at a decent resort for 7 nights…and 10k seemed to fit pretty well.

If you wanted to pay all your bills with your rewards card in order to save up for that trip to Hawaii…really rack up those points…you would need to spend $1,000,000 to achieve that goal.  So basically, if I spend $33,000+ a year consistently, in 30 years (at age 60) I will have enough points for that trip!!!  Assuming there is a program/company out there that will remain unchanged, with non-expiring points for the next 3 decades!

Hahaha definitely depressing…

Jeff @ Sustainable Life Blog said:

If you're looking into points for airline redemtions, you should probably consider getting multiple cards – some have spending limits and once you reach that you can simply move on.  www.thepointsguy.com has some great resources and you can easily earn enough points for a trip – then switch to a hotel card! 

Never heard of that website before. Thanks Jeff. Going to check it out.

I think this depends on what kind of large purchase your doing. Most 5% cash back cards actually only give you 1% when you get down to the nitty-gritty.

However, Chase Freedom gives you 1% cash back on all purchases and 5% on select categories of purchases. The 5% category changes every quarter.

It may be something of interest to look into!