Best Credit Card Perks, And Where They Are

Vera Gibbons Sorts Them Out And Recommends Top Cards For Each Type

(CBS) 

As you can see from these two examples, you need to take a careful look at the types of purchases that actually earn rewards. Think about where you shop the most, and find the card that will result in the biggest rewards for you.

Another thing to know about cash-back cards: Some don't automatically give you your reward; you have to request it. Don't forget to do that if it's necessary!!!

Although Gibbons prefers the cash-back reward cards, other types are popular, too.

Credit cards that reward you with cash-back on gas have been gaining in popularity over the past couple of years. In most cases you wind up saving only pennies at the pump, but at least you're saving something, and if you drive a lot each week, the savings could certainly add up. The average savings amount to $3 a fill-up, and more than $150 a year for people who use a tank of gas a week, according to FuelBudget.com.

Gibbons suggests that you find a card that's not tied to one specific gas station/brand.

Her top choice:

CHASE PERFECTCARD MASTERCARD
You earn six percent cash back on gas for the first 90 days you have the card, and three percent thereafter. You earn one percent cash back on other purchases (something that the station-specific cards don't offer).

Credit cards that award you airline miles for purchases are also popular. But, as airlines continue to change their miles programs, these rewards risk becoming less valuable. Plus, there are often fees associated with using miles, making your reward worth less, and many of the cards that are linked to specific airlines carry hefty fees, according to Bankrate.com. Finally, you have to spend quite a bit to collect a reward. In general, you'll need to spend around $28,000 to earn a ticket that's worth $350 or less.

But, if you travel a lot and do make use of your miles, then this type of reward card may be right up your alley. Gibbons recommends a card that will allow you to use miles on any carrier, as opposed to a card that's tied to one specific airline.

For instance:
CAPITAL ONE NO-HASSLE MILES REWARDS
This card lets you earn miles on any airline, and carries no annual fee. You collect 1.25 miles for every dollar spent, about 25 percent more than most airline reward cards. Also, there are no blackout dates or seat restrictions when using your miles, and no limit on how many miles you can earn.

[oneworldusa]

Posted by Puzzler125 at 08:08 PM : Aug 09, 2008

-Not sure if you post was in response to my prior post, but no, I don''t have 20-29% credit cards, but most people do. I rarely ever have a balance.

Applying for new credit in today''s economic environment is mostly going to hurt people who would like to buy a home in the next year or two or refinance in the near future.

[rainydayacct]

Do not fall for this SICKENING ADVERTISEMENT.

Credit cards make $$$ EASY MONEY $$$ for the LOAN SHARKS who issue them! They write their own rules & own Congress, just like the oil & insurance companies do!

They rely on a person''s lack of detailed knowledge regarding the agreement''s fine legalese print. Living beyond one''s means is encouraged in their advertisements & being impulsive with a credit card is a likely scenario.

It is very easy to get into DEBT.

This is a new form of SLAVERY.

Do not TRUST this sort of FALSE "REPORTING."

Chase & Capital One are the WORST OFFENDERS when it comes to ripping off customers with bogus rewards.

The BEST REWARDS in life have to do with our connections with PEOPLE not with money.

Financially, your BEST REWARD is to SAVE, SAVE, SAVE MONEY.

Remember, anyone can become homeless. Sometimes this happens because they cannot pay their charged up CREDIT CARD BILLS that feature the phony lure of REWARDS.

BE SMARTER THAN THE AVERAGE BEAR. Dispose of your credit cards & carry CASH! Don''t let the GREEDY BANKERS take advantage of you!

Wishing you prosperity & good health! --RainyDayAcct

[puzzler125]

You can also ask your credit provider for a lower rate. Banks are most likely to do this with stores not so amenable. Remember something. If you are paying 20% interest on your credit card I wonder just how good your credit is. I pay 9.65% and have a great FICO.

[puzzler125]

I have several credit cards with LOW annual interest rates, no fees and excellent perks. From Amazon.com you can get a free card (interest based on your credit history, the better your credit, the lower your interest) and get a $25 gift certificate for every $2500 you spend. You get more points for using the card on amazon.com and fewer points elsewhere but many perks cards give more points at their particular site, store,etc. As with every financial transaction you make you MUST read the fine print. There are many low interest great perks cards out there but you have to look carefully to find them!

[greeneyes222]

I agree - this article is completely irresponsible. Perks are a ploy to lure in the unwary. She gives one brief disclaimer and proceeds to shill.

[tylenol6]

If you are smart, you will stay away from these credit cards.

[oneworldusa]

Anyone with a news organization hawking credit cards to the public during today''s economic situation is irresponsible.

Notice how the ''reward'' cards suggested are looking for consumers to use their cards for everyday purchases? 3% back on one category of spending is nothing compared to the 20-29% you''ll spend in interest charges. Its all a scam.

[whitemale08]

Why would I want "reward points" for being a serf?

This article is disgusting.

Give me a good paying job so I can "put food on the family".