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Credit card education

  1. #151
    I've been here before. Mustang's Avatar
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    Re: Credit card education

    Quote Originally Posted by OreoGaborio View Post
    Hm. Just found this browsing the personal finance section of Reddit. May be a good option for some. You do NOT have to have any affiliation with Sallie Mae.

    https://www.salliemae.com/credit-cards/sallie-mae-card/

    Sallie Mae MasterCard®

    If you have student loans, the Sallie Mae MasterCard might be the right card for you. Not only does it offer cash back rewards, but it also allows you to use those rewards to pay down your eligible Sallie Mae student loans.
    Here’s how you earn cash back:

    5% cash back on the first $250 you spend per month on eligible gas and grocery purchases EACH and the first $750 you spend per month on eligible book purchases.
    1% cash back on every other purchase you make.
    Earn 2500 bonus points which may be redeemed for a $25 cash back statement credit, just for using your card within 90 days of account opening.
    No annual fee
    Is Amazon, in general, an eligible merchant for books? I can't seem to find that list.

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  2. #152
    Super Moderator OreoGaborio's Avatar
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    Re: Credit card education

    Not sure... Below is all I could find online.

    • Books – You will earn five (5) Rewards (which includes one
    (1) Base Reward) on the first $750 charged to the Credit
    Card Account each billing cycle on Net Purchases of Books.
    Purchases must be submitted by eligible merchants using the
    merchant category codes for purchases in this category to
    qualify for the five (5) Rewards. Purchases made at merchants
    that do not process transactions under these terms or that
    use incorrect merchant category codes will not qualify for and
    you will not receive the five (5) Reward benefit. Barclaycard is
    not responsible for incorrectly coded purchases. Purchases
    in this category that exceed the specified monthly limit or
    that are submitted by the merchant using incorrect merchant
    category codes, will earn one (1) Base Reward.
    • Subject to the terms described herein there is no maximum
    to the total Rewards you can earn as long as the Program
    continues and the Cardmember’s Credit Card Account is
    open and in good standing.
    I applied the other day & got approved. I'll see if I can find something in the cardholder agreement when it shows up in the mail.

    Or... If you wanna give em a call:

    Customer Service – Questions regarding the Program may be
    directed to 1-866-585-2951.

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  3. #153
    Your Father csmutty's Avatar
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    Re: Credit card education

    Thanks for doing the math. Looks like I should see if I can upgrade to the preferred.

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  4. #154
    Super Moderator OreoGaborio's Avatar
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    Re: Credit card education

    Quote Originally Posted by csmutty View Post
    Thanks for doing the math. Looks like I should see if I can upgrade to the preferred.
    Apply for the Sallie Mae. Here's my math spreadsheet. Look it over.

    https://docs.google.com/spreadsheets...it?usp=sharing

    This DOESN'T take into account the fact that you're also getting 5% back on gas up to $250/mo instead of 3% with the Preferred.

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    Last edited by OreoGaborio; 04-14-15 at 01:49 PM.
    -Pete LRRS/CCS #82 - ECK Racing, TonysTrackDays, Ironstone Ventures
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  5. #155
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    Re: Credit card education

    Hey guys just found out about this card when I logged into paypal this am.

    2% cashback that goes into your paypal account with no fees.

    Going to apply for it right away. .5% higher than my existing capital one quicksilver cards which are at 1.5%.

    2 percent PayPal cash back Mastercard

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  6. #156
    Super Moderator OreoGaborio's Avatar
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    Re: Credit card education

    What I've been using & what it gets me:

    Amazon Prime credit card (of course that requires a Prime account, which I'm paying 99 bucks a year for, but I get a lot more than a credit card)
    5% cash back on ALL Amazon purchases
    2% cash back at restaurants & drug stores

    Amex Blue Cash Everyday
    3% cash back at grocery stores

    Bank Of America cash back
    3.3% cash back on gas
    1.1% on everything else
    (Because the cash back is being deposited into my BOA checking, I get an extra 10% reward bonus which is why it's 3.3% and 1.1%)

    Commence Master Card
    2% cash back on all utilities, including cell phone


    So that covers pretty much all the bases.

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    Last edited by OreoGaborio; 03-10-18 at 12:39 PM.
    -Pete LRRS/CCS #82 - ECK Racing, TonysTrackDays, Ironstone Ventures
    GMD Computrack Boston | Pine Motorparts/PBE Specialists | Phoenix Graphics | Woodcraft | Street & Competition | MTag-Pirelli | OnTrack Media

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  7. #157
    Your Father csmutty's Avatar
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    Re: Credit card education

    **Amazon Prime credit card ($50/year because student - suck it)
    5% cash back on ALL Amazon purchases
    2% cash back at restaurants & drug stores

    Amex Blue Preferred Cash ($75 annual fee)
    6% cash back at grocery stores
    3% cash back at gas stations

    PayPal Mastercard
    2% cash back on everything

    **Interesting note - You can redeem your rewards in cash instead of using your points towards amazon purchases. This way you are earning rewards on the purchases that you would have instead used points on.

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    2011 Pit Bike Race CHAMPION!

  8. #158
    Super Moderator OreoGaborio's Avatar
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    Re: Credit card education

    Quote Originally Posted by csmutty View Post
    **Amazon Prime credit card

    **Interesting note - You can redeem your rewards in cash instead of using your points towards amazon purchases. This way you are earning rewards on the purchases that you would have instead used points on.
    Ah yes. Forgot about that. Think I've only used rewards on a purchase like once or twice, though. They've just been accumulating for the most part.

    Gotta do that through the Case website, right?

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    Last edited by OreoGaborio; 03-10-18 at 12:44 PM.
    -Pete LRRS/CCS #82 - ECK Racing, TonysTrackDays, Ironstone Ventures
    GMD Computrack Boston | Pine Motorparts/PBE Specialists | Phoenix Graphics | Woodcraft | Street & Competition | MTag-Pirelli | OnTrack Media

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  9. #159
    Your Father csmutty's Avatar
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    Re: Credit card education

    Quote Originally Posted by OreoGaborio View Post
    Ah yes. Forgot about that. Think I've only used rewards on a purchase like once or twice, though. They've just been accumulating for the most part.

    Gotta do that through the Case website, right?
    Yes. Can redeem them for statement credit on the web site.

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    2011 Pit Bike Race CHAMPION!

  10. #160
    Super Moderator TheIglu's Avatar
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    Re: Credit card education

    You guys really carry all those extra lines of credit for a few bucks a month?

    I'm no expert on credit scores, but wouldn't you be harming your score by having too many lines of credit open at a time?

    I roll the Amex Blue Rewards card for 2% on gas, 3% on groceries (or vice versa? no clue anymore). Everything else is on the Fidelity 529 rewards Visa, which puts 2% cash back into my spawns college savings account.

    Credit score is 830.

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  11. #161
    Your Father csmutty's Avatar
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    Re: Credit card education

    Quote Originally Posted by TheIglu View Post
    You guys really carry all those extra lines of credit for a few bucks a month?

    I'm no expert on credit scores, but wouldn't you be harming your score by having too many lines of credit open at a time?

    I roll the Amex Blue Rewards card for 2% on gas, 3% on groceries (or vice versa? no clue anymore). Everything else is on the Fidelity 529 rewards Visa, which puts 2% cash back into my spawns college savings account.

    Credit score is 830.
    Those were only the ones I use often. I currently have open:

    Capital One Quicksilver Visa
    Capital One Quicksilver Mastercard
    Amex Blue Sky
    Amex Blue Cash Preferred
    Lowe's
    Amazon Prime Rewards
    Paypal Rewards

    My score is currently at 808.

    From what I know it is more important to have a ridiculous credit limit and not have a high revolving balance % wise.

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    -Christian LRRS/CCS #316 ECK Racing GMD Computrack Boston | Pine Motorparts/PBE Specialists | Woodcraft | Street & Competition | OnTrack Media

    2011 Pit Bike Race CHAMPION!

  12. #162
    Super Moderator TheIglu's Avatar
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    Re: Credit card education

    Ah, makes sense. I wish there was some sort of exact calculator you could use to know what impact various things would do to your credit score. There are guides, but nothing concrete that I've found.

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    -Clayton
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  13. #163
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    Re: Credit card education

    I use the Costco Citibank card for personal and business expenses. I was able to purchase an iPad Pro with my rewards this year. It took a while to understand how to deal with purchasing food from Costco as the portions are large and we are only two. We bought one of those vacuum sealers and so far that is working great for us.

    It is paid off every month.

    https://www.creditcards.com/citi/

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    Last edited by Currently; 03-11-18 at 07:36 PM.
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  14. #164
    Super Moderator OreoGaborio's Avatar
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    Re: Credit card education

    Quote Originally Posted by TheIglu View Post
    You guys really carry all those extra lines of credit for a few bucks a month?

    I'm no expert on credit scores, but wouldn't you be harming your score by having too many lines of credit open at a time?
    Nah, I don't have any loans out for anything so I only have about 7-8 accounts total open on my reports. All my scores are in the 810-820 neighborhood.

    Smutty's right... has more to do with your spending limits & how much of it you're using.
    Quote Originally Posted by TheIglu View Post
    Ah, makes sense. I wish there was some sort of exact calculator you could use to know what impact various things would do to your credit score. There are guides, but nothing concrete that I've found.
    That has a lot do wo with the fact that risk is subjective. There are a ton of factors that go into it and banks/lending agencies weight them all differently.

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    Last edited by OreoGaborio; 03-12-18 at 09:57 AM.
    -Pete LRRS/CCS #82 - ECK Racing, TonysTrackDays, Ironstone Ventures
    GMD Computrack Boston | Pine Motorparts/PBE Specialists | Phoenix Graphics | Woodcraft | Street & Competition | MTag-Pirelli | OnTrack Media

    The Garage: '03 Tuono | '06 SV650

  15. #165
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    Re: Credit card education

    I've learned that some people are really into max'ing out CC benefits. I agree that it isn't for me. But then I track my personal spending and retirement investing to the $0.01 in 7 different spreadsheets. So who the hell would I be to call churning weird?!

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  16. #166
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    Re: Credit card education

    I will be able to fly 2 people round trip to europe first class completely free with my chase sapphire reserve points later this year... anyone not taking advantage of credit card points benefits etc is just missing out on free money/stuff.

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  17. #167
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    Re: Credit card education

    I generally can't be bothered to keep up with this stuff, but I'm into travel, and so I have the Chase Sapphire card. I have cashed in on it quite a bit despite it's 99 dollar annual fee. Still seems worth it in my case.

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