(Closed) Best rewards credit card?

posted 6 years ago in Money
  • poll: Is it a good idea to open a rewards card to pay for an engagement ring?
    Yes! : (12 votes)
    63 %
    No! : (6 votes)
    32 %
    Not really sure : (1 votes)
    5 %
    Other (explained below) : (0 votes)
  • Post # 3
    Member
    10367 posts
    Sugar Beekeeper
    • Wedding: September 2010

    If you can afford to pay it off immediately, and you have the credit for it (and it won’t impact a mortgage, car loan, etc that you will need in the near future!), then yes, it can be a great thing. My husband and I both opened AAdvantage cards and used them to get over 150,000 bonus miles. We both had business class tickets to and from our recent 5 month trek through Asia and New Zealand….for free. We paid it all off immediately, and got over $7000 in free flights. I’d say that was well worth it!

    Post # 4
    Member
    14440 posts
    Honey Beekeeper
    • Wedding: June 2011

    I dont think I’d bother opening a credit card up specifically to pay for a ring, but if I arleady had a card, I’d definitely charge it.  Vendors have to pay a fee for credit card, usually 3%, I would haggle a cash discount with the jeweler instead. 

    Post # 5
    Member
    5787 posts
    Bee Keeper
    • Wedding: May 2011

    I put our entire wedding on my Continental card for the miles (and paid it off right away). However, I agree with the others that trying to get a “cash discount” may be worth more.

    Post # 6
    Member
    784 posts
    Busy bee
    • Wedding: February 2012

    @crayfish:  What company was that card through? We want to put our Hawaii Destination Wedding on a card but want good benefits. LOL. I like this post! I say yes, if you have the cash, reeeeap those benefits!

    Post # 7
    Member
    784 posts
    Busy bee
    • Wedding: February 2012

    On the cash discount thing, that makes sense for bigger purchases like cars, but most retailers don’t give cash discounts, or at least we didn’t at my store. They still pay a transaction fee for debit cards, and it still costs them to process a check, and it still costs to do cash deposits (armored car for pickup, etc).

    Post # 8
    Member
    3176 posts
    Sugar bee
    • Wedding: May 2011

    Yes. I actually started using a credit card as my primary payment method so I get points on everything. I buy groceries with the CC then get in my car and do a bill pay on my phone for the amount. There is never a balance but I get cash back, it’s pretty awesome.

    Post # 9
    Member
    5787 posts
    Bee Keeper
    • Wedding: May 2011

    @macbookbee123:  yeah, Zales is not going to knock off 10% if you pay in cash. But in places like the diamond district in NYC it still works.

    Post # 10
    Member
    5787 posts
    Bee Keeper
    • Wedding: May 2011

    @MrsPinkPeony:  Not to threadjack, but its better for your credit if you wait til your monthly statement is cut to pay it all off. Credit agencies have no idea you’re charging/paying off in full if you pay 5 minutes later.

    Post # 11
    Member
    784 posts
    Busy bee
    • Wedding: February 2012

    @LGenz:  Nice!!! That’s pretty awesome!!

    Post # 12
    Member
    579 posts
    Busy bee
    • Wedding: August 2010

    As long as the credit card is paid off in full it is a very smart idea! If you carry a balance on your credit card it isnt recommended as rewards cards have higher interest rates. We have airmiles amex and avion visa card. We opened the avion specifically for our house deposits/purchases! Where the amex my hubby has had for years! We actually just cashed in all of our Air miles for a trip to st.lucia in april!! Since we have seen how we benefit we are also going to start paying our monthly utilities on the card as well!! Start accumulating more miles for another vacation!!

    Post # 13
    Member
    3148 posts
    Sugar bee
    • Wedding: February 2010

    I have an amazon.com rewards card, and within 7 months, I have racked up about $150 worth of “amazon cash”. so, that’s basically $150 free dollars I can spend shopping at amazon.  I shop there a lot so it’s worth it to me. I can also use the money elsewhere, but then it’s worth about half of that. 

    I use my credit card for practially everything, and then I pay off the full balance every month.  

    Post # 14
    Member
    6892 posts
    Busy Beekeeper
    • Wedding: March 2012

    We did that on a few wedding things (wedding bands, linens) and it was worth it. Granted, we already had the card, but we got a lot of cashback because we bought specifically during a month where cashback was 5% for everything! It’s a Discover card, FWIW.

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