Rewards Credit Card

[hornbanger]

My father recently passed away. My mother and I want to consolidated the 8 credit cards they had into 1 card so that she can maximize her rewards, less paperwork, easier tracking of expenses, etc.

My mother does not travel or shop much. I guess some sort of cash back or gas card would be best.

If you have any recommendation please let me know. Thanx in advance.

 

[Bob Wills]

I'm not a finance guru by any means, so I'm curious if closing 7 or 8 cards will negatively impact her credit score.

 

[halsteadfrost]

Keeping her credit score high wasn't one of his wants, "so that she can maximize her rewards, less paperwork, easier tracking of expenses, etc."

 

[Texanne]

I have no advice to offer you, but I am sorry for your loss. I know it isn't easy.

I will keep you and your mother in my prayers.

 

[busterbrown16]

I have a Fidelity Rewards card that is tied to my FIdelity account. I got in at $100 per every $3,000 spent. The $100 goes straight into my fidelity account. Pretty sweet. I think it is currentl $75 for every $5,000 spent. You can invest the money or withdraw it. You have to have a Fidelity account, which is no cost to set up.

 

[MilkmanDan]

I've been very happy with American Express Blue Cash, which has a higher rebate for gas, grocery, and pharmacy purchases. Not everywhere takes AMEX; my backup Mastercard is from Exxon.

 

[fratboy_legend]

here is the answer. do not listen to anybody else on this question.

Charles Schwab Invest First Visa: 2% of EACH AND EVERY dollar spent refunded back to a schwab account. no minimum, no maximum, no fee no catch, no brainer.

i found out about it 2 months ago via the WSJ, which said it is best deal available.

schwab.com/creditcard

 

[busterbrown16]

2% on a Schwab acount is better than what the Fidelity card is currently - which is 1.5% ($75 for every $5,000). I guess I am getting 3.3% on my current card, which makes mine a better deal. I will keep mine, but can't argue that the Schwab may be better than what Fidelity is currently offering.

 

[fratboy_legend]

that 3.3% is unbelievable. never get rid of that card. its better than the economics the card companies get by a full point!

 

[LAktownhorn]

does it cost anything to have a schwab investment acc?

 

[busterbrown16]

Yeah, I get calls and mail from Fidelity (or the servicer of the card) all the time offering me other cards with other "better" deals. They will have to pry my deal from my cold, dead hands.

I would guess a Schwab account is similar to Fidelity. No cost to set up. Not sure of a minimum amount in the account, but I am sure there is one.

 

[hornbanger]

thanx for the heads up ... found the full link

Link

 

[fratboy_legend]

i believe schwab accounts are without fees given you maintain some minimum balance.

 

[DCLonghorn]

What do you guys think about the Costco or Starwood Amex? I see the Starwood is great for travel rewards.

I'm getting married in June and I'm looking for a rewards card that we can use for household expenses (gas, cable, electric, groceries, etc) and pay off at the end of the month. Any suggestions?

 

[NB_LONGHORN]

HEB mastercard

1 point for every dollar spent
2 points for every dollar spent at HEB
2000 points equals $20 gift card to HEB
and 5 cents a gallon off a the pump everytime you fill up at HEB

 

[DCLonghorn]

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