Thursday, May 9, 2013

Credit Cards We Use

Last time we talked about using credit cards instead of cash. You can delay your payments, earn you rewards, extend your warranties, and much more. Now we would like to share our personal favorite credit cards we have been using for the past few years.

#1. Chase Freedom

We've been using this card for almost 3 years. You get 1% cashback for every purchase you make. It is a great card if you make many, many small purchases and have a Chase checking account. For every swipe, we get 10 points (which translates to $0.10) plus 10% on every $1 you spend. The great thing about redeeming your cashback is that it is directly deposited into your checking account, and there is no minimum to cash out. They also have the great rotating 5% categories every quarter, so you get even more cash back for everyday purchases.


We even used our credit card to make a down payment on a car and got tons of cashback through that.

#2. American Express Costco True Earnings

One thing about this card is that you must be a Costco member. It's 3% on gas (if you're a Costco member, you get gas there anyways and it's usually cheaper), 2% on restaurants, and 1% everywhere else. The drawback of the card is the cashback comes in the form of a check that you have to go to Costco to cashout once a year. However, it is an American Express card, so it does extend warranties on many products and offers some travel insurance (such as car rental).

American Express also has many promotions with merchants. For example, they had $20 back for spending $200 at BestBuy last year. Also American Express is a great company that gives back to the community. Every year, they have a small business Saturday event where they give you $25 cash back on a $25 or greater purchase from a local small business. We've gotten a lot of (almost) free food, and helped our local businesses.


#3. Target RedCard

This is a great card if you shop at Target a lot, which you should. It's 5% off your purchase and they give you free online shipping from Target.com. Sometimes, they give you useful coupons with your bill.


Target is a great place to shop if you know how to find deals and do not mind going through clearance sections, which is definitely worth another post.


#4. Discover

We only use it for shopping online through ShopDiscover, since they have cashback up to 30% on many popular merchants. They usually have at least 5% cashback for most merchants, so definitely take advantage of this when shopping online. They also have the rotating 5% categories for physical purchases, similar to Chase Freedom.

So, those are the cards we currently have. We know it's not good to have so many credit cards, but you have to have great self discipline to control yourself not buying things you do not need or things you cannot afford.


What are your favorite credit cards? And please do share.

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