5% CA$H-BACK CREDIT CARD ('til OCT - 1% after) + More CC Cash-Back Info!

[BronzeBruce13]

Great post. I have Discover 2% cash back and Bank of America 2% cash back cards. I never never never carry a balance (the avg household has $8000 in credit card debt). 5% is a nice payback percent even if only until Oct. I know I reach the $300 max amount easily with my routine comic purchases.

 

Whoa?? My Discover is only 1% CB (although I can double the value by redeeming with certain products/services). Please tell me about your 2% card if its straight 2% cash back and where I can call to get that one.

 

Also, the Bank of America 2% cash back card. The more the merrier at 2%

 

Please post the numbers where we can call.

With the exception of the (1) recent 2% offer and this 5% offer...I've only been at 1% most of the time. I'd love to have a couple permanent 2% cards after this 5% promotion ends, especially if they have no limits in CB awards.

 

[spidermanbeyond]

I believe the 2% cash back rewards is a rolling one so you have to spend something like $2500 before getting to the 2%. I never had trouble reaching the max. because of my hobby and business expenses. You might be right with the Discover 1%, sorry I forget (2% after using for bonus stuff). Here are the numbers:

Discover (Platinum Cashback bonus 1-800-347-2683), BOA Rewards (1-800-352-4035), make sure you get the 2% one with $150 max cash back at end of the year if you spend $3000).

 

Never ever carry a balance.

[Jagull]

My credit rating is 930

how do you find your CR out?

[BronzeBruce13]

Thanks... I'll look into it.

2% after spending $2500 with 0, with a max of $150 may not beat the straight 1% with $300 limit for my needs. I'll have to do some math.

 

Point is.. I bet many don't even have % cash back cards and use CC heavily enough to have earned a decent sum.

[Murph]

I'm assuming you're using something one of the individual credit companies rather than a beacon score for your rating?

 

Brian

[uclapeterg]

Well, I just recently purchased Progressive auto insurance which relies heavily on your credit rating to determine your rates. So I wouldn't be surprised, I purchased for 20 bucks what auto and home insurance companies typically use to determine your credit worthiness (I think it's called CARE). I think it is primarily based on one credit bureau's info (I forget which one). IT came up with a rating of 930 and my credit is better than 96% of the population. They said I can boost it up a little by getting a gas card.

[Murph]

Must be, as far as I know the beacon score will only go to 850.

 

Brian

[BronzeBruce13]

Must be, as far as I know the beacon score will only go to 850.

 

Brian

 

How can you obtain your "Beacon Rating" and is it the "primary source" the CC companies look at when considering your credit limit? I'm just curious what my rating would be.

[uclapeterg]

I think just ask the credit agencies for copies of your credit reports. I have never heard of a beacon score either. The maximum score on CARE i believe is 970 or 980.

[Murph]

It's one of the most used scoring techniques. The beacon score is a combination of sources FICO, Experian and Trans Union. As far as I know, that's what's used for qualifying you for a loan, mortgage, etc. I know our Mortgage company uses the beacon score when qualifying an individual. I had always assumed that's what they used for choosing who to issue credit cards and credit card offers to.

The company we use is Equifax. You can get a free credit score once a year from diff companies under the Fair Credit Reporting Act.

 

Brian

[BronzeBruce13]

thanks Brian

[jeff2004]

I prefer my Chase PerfectCard. 1% back on all purchases except gas; 3% back on all gas purchases. Don't need one of these.

 

I have a Chase card right now and it is not that great. It has a high interest rate with no perks so I have been thinking about cutting it up since there is no balance on it.

 

I may just call them up and ask them to change me over to the PerfectCard. Is the 3% back on gas purchases only good at certain gas stations or can I use it anywhere?

[jeff2004]

Just a sidenote, since we are talking about credit, I work for a mortgage company and deal with that stuff all day long. When you apply for a mortgage, they order a copy of your credit report with credit scores from all 3 credit bureaus. It is good to check your credit score every now and then to make sure it is accurate and to see if it is improving (or getting worse, eek! .)

 

You can get a copy of all three reports with credit scores from myfico.com for around $40.

 

I can also offer to tell you what your credit scores are for free if you put in an application with me to refinance your existing home mortgage. There will be no cost and no obligation to you. If you have an interest rate of 4% or 5% that is extremely good and I probably won't be able to do anything for you. However, if your interest rate is at 6% or above I would highly recommend letting me check to see what I can do for you. I will also be able to tell you your credit scores even if I can't help you. If anybody is interested, just send me a PM and I can provide you with my work number and/or work e-mail.

[Murph]

I've checked credit scores for my friends before through the mortgage company we have. I'd be careful with it though, because if someone goes nuts on you you can get sued for invasion of privacy (or something of that nature).

Your credit score is not affected if you check it once a year, but multiple checks can mean to a potential creditor that you are attempting to open many lines of credit which will lower your score. In that state of Iowa (meaning, I don't know if this is the same in other states), a mortgage company doesn't affect your credit rating because of some standing mortgage companies have with the credit bureaus. Just don't do it very often, or it will become a problem..

 

Brian

[tilleycs]

I may just call them up and ask them to change me over to the PerfectCard. Is the 3% back on gas purchases only good at certain gas stations or can I use it anywhere?

 

Yeah, the PerfectCard is what I switched to; at least you get SOMETHING back. I used to have a regular CitiBank card, and I heard about the PerfectCard on another message board I've posted on. When I called CitiBank to close my old account, they tried to get me to switch to one of their reward cards. I told them don't bother, if they didn't offer me the opportunity when I was with them, it was too late then.

 

The 3% back on gas purhcases is good anywhere, unlike the gas station reward cards that only give you 3% back on gas bought at THEIR gas stations only.

[BronzeBruce13]

Post the Chase PerfectCard # Chris.

It may help those interested in the 3% CB gas card.

[tilleycs]

I applied online at www.chase.com . If you qualify for the Platinum version, that's what they send you. If not, you get the regular one. I don't know the specific criteria that qualifies you for the Platinum card.

[BronzeBruce13]

Thanks