Best strategies to get most out credit cards, rewards, balance transfer offers.

[Guest]

On 6/8/2023 at 8:34 PM, Vegas_Millennial said:

This is good to know because I'll be in London in August.  I didn't know I could cash out unused funds from a transit card.  I always assumed I had to use it or lose it.

The simplest thing to do for the London Underground is just tap your credit card at each entry/exit. At the end of the day, you will get the lowest rate (either 1-day pass or per trip, depending on how many trips you took), assuming you always use the same credit card. 

[Guest]

Outside the US, American Express isn't as universally accepted, though all major hotel chains, common transport such as SNCF/RENFE/TrenItalia, and better stores and restaurants do. I wouldn't travel outside the US without a M/C or Visa, but use AMX when I can due to their outstanding customer service. And my AMX's get me free nights at hotels (last time at the St. Regis in Venice, Italy).

[+ FrankR]

11 minutes ago, arnemgreeves said:

if anything credit cards should be banned. let people save money. 

When you use credit cards correctly, it should not make a difference.

[+ FrankR]

6 minutes ago, arnemgreeves said:

most don't and can't. so best ban them or limit their use. they're not that necessary as it stands. 

You are, of course, welcome to that opinion. I prefer the freedom to make my own choices. Like choosing a credit card over a debit card to benefit from fraud loss limits and insurance coverage. 

[handiacefailure]

12 hours ago, arnemgreeves said:

if anything credit cards should be banned. let people save money. 

Nope, I make a lot off my credit cards   Just know how to use them correctly   I get things like lounge access and free primary rental car insurance coverage and protection on lurchases with my credit cards and can keep my diamond status on delta which saves me over $10000 in international upgrades using the certificates and has gotten me quite a few domestic upgrades for free.    Just have to be respnsible

[+ FrankR]

1 hour ago, arnemgreeves said:

The fact there is masses of person al shows many cannot handle them. 

By that definition we should remove all personal vehicles from the road. Especially in freaking NJ. Masses of people cannot handle them.
 

Credit cards are a valuable tool for those who use them correctly. If you cant use them correctly, avoid them.

Edited July 14, 2023 by FrankR

[CuriousByNature]

24 minutes ago, arnemgreeves said:

Vehicular accidents don't impede the economy to the same extent. Credit card and other personal debt does. Clearly many aren't able to use them correctly. 

I use credit cards frequently for the ease of use and not having to carry cash all the time, but I also pay my balance in full each month which has given me a good credit score.  That said, I did not apply for a credit card until I had a steady, full time job because I saw members of my own family get into significant credit card debt by only paying the minimum monthly payment each month.  For some of them the issue started at university.  I'm not sure if this is still the case or if this happens in the USA, but in Canada at that time, university students were able to obtain credit cards with a $500 limit even if they did not have a job.  It was almost like giving candy to a baby - many people I know went crazy with their spending and learned to think of credit cards as cash in the bank - which it obviously isn't.   And that same attitude existed once they finished school, found an entry level job, and then had their credit limit increased regularly.  It was a dangerous spiral for those without much self control or discipline.  I think credit cards serve an important purpose and should not be banned outright, but stricter guidelines would likely help a lot of people.  Unfortunately, in North America at least, credit card companies make huge profits that they will never give up - even though these profits often come from preying on people's inability or unwillingness to be financially responsible.  It's a sad situation in my opinion.

[TonyDown]

I've had the same no fee credit card a long, long time.

When I recently took advantage of their attractive banking CD rate the young hot latino gentleman setting up my CD reminded me my credit card is pretty old, that I ought to open a rewards card account.  

Fast forward 2+ months and I received an email offer to switch my same old card to a no fee rewards card, no credit check.

Should I? 

I already have a rewards card that I use for most spending so I don't  see a significant incentive for me to change the old card.

The old card is more of a backup used for very specific on-line spending.  

 

[handiacefailure]

27 minutes ago, TonyDown said:

I've had the same no fee credit card a long, long time.

When I recently took advantage of their attractive banking CD rate the young hot latino gentleman setting up my CD reminded me my credit card is pretty old, that I ought to open a rewards card account.  

Fast forward 2+ months and I received an email offer to switch my same old card to a no fee rewards card, no credit check.

Should I? 

I already have a rewards card that I use for most spending so I don't  see a significant incentive for me to change the old card.

The old card is more of a backup used for very specific on-line spending.  

 

Aren't out anything switching it.   Just make sure they upgrade the card and keep the number the same so your credit doesn't take a ding for having a new card and that card still shows up as your original open date since part of your credit score is based on how long you've had a card and your longest open card is reported.   

[mike carey]

Moderator's Note:

Gentlemen, this is an interesting thread that has generated useful content, so please keep to the topic of how best to take advantage of CC rewards. Agree or not with what others post, but do not criticise them for what they say. A reminder, the premise of the thread is that CCs are a thing and people use them, so questioning their existence is outside the scope of the thread.

[Guest]

On 7/15/2023 at 7:43 PM, TonyDown said:

I've had the same no fee credit card a long, long time.

When I recently took advantage of their attractive banking CD rate the young hot latino gentleman setting up my CD reminded me my credit card is pretty old, that I ought to open a rewards card account.  

Fast forward 2+ months and I received an email offer to switch my same old card to a no fee rewards card, no credit check.

Should I? 

I already have a rewards card that I use for most spending so I don't  see a significant incentive for me to change the old card.

The old card is more of a backup used for very specific on-line spending.  

 

If there's no credit check, there should be no decrease in your FICO/credit score. One should never have a card which doesn't offer rewards. 

[MikePDNA51]

I get credit cards, always pay off at end of the month. Airline travel cards, need to spend a certain amount of money in 3 months. Usually get a new airline credit card right before Halloween, then do typical holiday shopping, pay off at end of week, and get full reward points from the airline. I’m going to try KLM Air France card this season. 

[handiacefailure]

4 hours ago, MikePDNA51 said:

I get credit cards, always pay off at end of the month. Airline travel cards, need to spend a certain amount of money in 3 months. Usually get a new airline credit card right before Halloween, then do typical holiday shopping, pay off at end of week, and get full reward points from the airline. I’m going to try KLM Air France card this season. 

I was thinking of getting the AF/KLM card for the good sign up offer (weird they hae a combined card).   Delta diamond but a lot of times Delta flights are a better deal booking on a code share with Airfrance miles 

[mike carey]

58 minutes ago, handiacefailure said:

I was thinking of getting the AF/KLM card for the good sign up offer (weird they hae a combined card).   Delta diamond but a lot of times Delta flights are a better deal booking on a code share with Airfrance miles 

Not really, they are both part of the same company and have a combined frequent flyer program (Flying Blue), and it's that program not the airlines that co-issues the credit card.

[handiacefailure]

16 hours ago, mike carey said:

Not really, they are both part of the same company and have a combined frequent flyer program (Flying Blue), and it's that program not the airlines that co-issues the credit card.

Different companies but part of the same alliance, same one as Delta.   Surprised they have a cobranded credit card though since Delta is in bed with AmEx and Air France has an alliance with Chase.    I like using Chase points on Airfrance.   

[mike carey]

https://www.airfranceklm.com/en