Going after the cashback rates?
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Originally Posted by Potato_Picker
...Let me just repeat a word of caution for all posters/readers of this thread. This is clearly designed for someone who has some decent savings ($10K min.) and pays off their credit card every month. Their interest rates are in the double digits (14% !!!). So clearly this is not a card you want if you're carrying any balances!
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HSBC's card has a 1% cashback rate, no tiers. It's interest rate is double digit too but there's no balance requirements to get the cashback rate.
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Originally Posted by WellManicuredMan
Thanks! Now only if they had a bonus for signing up for the card...
The $10K in savings I knew about already. Pretty soon I'll have over $20K in ED so this won't be a problem (waiting on a CD to mature). My Citi card has a high interest rate so I'm already used to this and paying off the card every month and never carrying a balance. The idea of paying a credit card company interest sickens me.
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Credit card deadbeats like me, to parrot the SciFi channel's new show.
Take a look at AMEX's Blue Cash card; I don't spend enough money each year to make its tiered rate worth it but it sounds like you do. Its highest rates at 5% (gas, drugs, supermarkets) / 1.5% (everything else) could beat out ED's 1.4%
The Discover card folks have a quarterly 5% cashback on a random category of purchases. I hang on to my old card and use it when what I want to buy coincides with their 5% cashback offer.