The Credit Card thread (Cash Back)

PhrostByte

PhrostByte

CAG Newbie
Maybe I'm just not aware of an already existing Credit Card thread, but it seems like something this site is sorely lacking.. I mean we're CAGs, shouldn't we look for credit cards with good cash back rates?

Anyway.. if I'm just overlooking the thread, let me know.. otherwise, I'll start the discussion.

There's a lot of info on FW, SD, creditboards, but some of those people are highly obsessed.. so I'll just tell you about two cards today. One card I already have and another I'm considering applying for.

The first card I'd like to tell ya'll about is the Pentagon Federal Credit Union Platinum VISA Rewards card. This is the one I have. Here are the details

  • 5% off all gas purchases
  • 2% off all grocery purchases
  • 1.25% off otherwise
  • no rewards cap, instantly applied as a statement credit at the end of your billing cycle
What's the catch? You either have to be military, have a relative in the military, or join some sort of affiliated organization. If you're a student, you can sign up with a co-signer as well. Some of the affiliated organizations include the MOAA, the NMFA, and SAME. I believe signing up for SAME is free. This is an excellent card for its sheer simplicity, and they also have great rates for other loans, such as mortgages and car loans. The website is http://www.penfed.org/ Here's a picture.

penfed-visa.gif


Ok, enough of that. Now I'll tell you about the MTVu STUDENT Platinum VISA Rewards card. You must be a student to get this (although I'm sure you can get it if you're not). This is the one I'm considering. Instead of instant cash back, you get points redeemable for various prizes. Sounds like bullshit right? Well, it's certainly not as easy as the PenFed, but some of the deals make up for it. Here are the details:


  • 5 points for purchases made at bookstores, restaurants (fast food too), movies, movie rental stores, bars, other ones too. The way this is calculated is through the merchant category code, any stores that identify themselves with the above codes qualify. AMAZON IS INCLUDED!!!
  • 10 points/qualifying purchases for the 3 months.
  • 1 point otherwise (might as well use your PenFed for non-qualifying merchants).
  • Points are redeemable at http://www.thankyou.com/ You'll notice that most of the redeemable prizes are not a 1 point : 1 cent ratio. I know this.. There are some, however, that are. Flights are very cheap with this system, also.. amazon.com gift certificates are 1:1. There's also student loan discounts, which are basically checks written out to your bank. A lot of people have successfully cashed these, and this is without a doubt the best way to spend your points.
  • Bonus points for paying your bill on time.
  • Bonus points on a tiered system for faxing in your grades.
  • Bonus points for referals.
Here's the link for applying: http://creditcards.citicards.com/us...2&ProspectID=D08AE5CF4F7B4D29A51EFF3168A6B9F1

Here's a picture:

citi_student_mtvu.gif



As you can see, it's hideous. I'll most likely be applying for this card very soon. If you also want to apply.. let me know and maybe I can refer you? Well, that's all for now. If you have any questions or wish to add anything, post. :)

Extra MTVu info from fatwallet:

You cannot get this card if your total debt(clarification) on all your revolving credit lines is above $10,000. They will not care about the amount of income you have. -Rushnrockt
For GPA bonus:
Grade submission form

5% Qualified Merchants:
Bookstores


          • Amazon.com (certain purchases)(doesn't work on Music store)
          • iTunes
          • Barnes & Noble (in store only, not online)
          • Fast Food (alphabetical)
          • Arby's
          • Burger King
          • Carl's JR
          • Checkers
          • Chick Fil A
          • Dominoes
          • DUNKIN DONUTS
          • Good Times
          • Little Caesars Pizza
          • Jack In The Box
          • Jersey Mikes Submarines
          • Oregon Coast Aquarium Cafe
          • McDonalds
          • Popeyes
          • Qdoba
          • Quizno's
          • Skyline Chili
          • Sbarro
          • Starbucks
          • Subway
          • Taco Bell
          • Taco Del Mar
          • Waffle House
          • Wendys
          • WhataburgerRestaurants
          • Carrabba's Italian Grill
          • China Grand Buffet
          • Dante's Cafe (Portland, OR)
          • Godfather's Pizza
          • Hometown Buffet
          • Olive Garden
          • Papa Johns Pizza B&M / PapaJohns.com
          • Pizza Hut
          • Shari's
          • TGI Fridays
          • Movie Theaters
          • Rave Motion Pictures
          • AMC
          • Edwards/Regal
          • Video Rental Stores
          • Blockbuster online
          • Movielink
          • Music/Video Stores
          • FYE
            face-icon-small-mad.gif
          • Did NOT qualify for 5%
            face-icon-small-mad.gif
          • NetFlix
          • half.com
          • Certain bars (pub in the name has nothing to do with it, it's how an establishment codes itself w/the CC comp.)
          • restaurant.com
          • yourmusic.com
          • Red Robin
          • ch.com
          • DeepDiscountDVD.com
          • Tuna Town (Huntington Beach, CA)
          • Ben and Jerry's Ice Cream(merchandise)
          • TextbookX.com
          • Krispy Kreme (Classed as Merchandise - BAKERIES)
Why didn't my purchase qualify?
Go to Statements-> "Purchases" and click on the amounts that were charged
That will pop up a window with Transaction Details:

Merchant Category Restaurants - DRINKING PLACES-ALCOHOLIC BEVERAGES

Categories that appear to qualify (among others)
Entertainment - VIDEO ENTERTAINMENT RENTAL STORES
Entertainment - MOTION PICTURE THEATERS
Restaurants - EATING PLACE,RESTAURANT
Restaurants - FAST FOOD RESTAURANTS
Merchandise - BOOK STORES
Merchandise - RECORD STORES
Note that some book stores (e.g. B&N online, TextbookX) do not qualify because they categorize themselves as "BOOKS, PERIODICALS, AND NEWSPAPERS" rather than "BOOK STORES".
Rewards Network/I-dine Cash Back rebates do not count against Restauarants Categories -- only 1TY/$1 not 5TY/$1.
Click to expand...
 
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I'm pissed at Citi. I paid my bill online yesterday , which was due today. I paid the full amount they showed that i owed so i wouldn't have a balance. I check today to see if the payment went through and they still have a $15 balance on the account. I didn't use the card after paying the bill either, so there shouldn't have been any charges between me paying the bill and them crediting the account.

Edit- I'm trying to send them an e-mail and i can't even get it to go through.
 
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That's why you always pay your bill 3-4 days ahead of time. Not all credit cards have a 1-2 day processing time on payments. I know my Capital One card processes payments in 1 day if paid before 3 PM ET, but my parents credit cards all take 3-4 days to process.
 
Well i'll know better next time i guess. The thing is, i checked my purchase history and the last purchase listed was made on the 13th. That wasn't for $15 either, so i'm tyring to figure out what purchase(s) this $15 is from.
 
Yeah Joilet you should try to pay your bill as soon as you get your notification. That way you never really have to remember to pay it and risk getting late fees.. you just pay and move on.

pbnate: I get student loan rebates.
 
I don't think i still quite understand the payment schedules these companies use. For example: If i get my bill in the mail and pay it in full, what will happen if i use the card after that? Will those purchase made afterward go on the next bill or will it be added to the one i just paid off? It seems that anything i charged continued to be added to this statement. If i had paid it off last week and continued to use it, it seems like i still would have had a balance due on the 17th(my due date). That is apparently where the $15 came from, it was processed after i sent my payment. This is why i waited til the day before, to make sure this payment would be for as many purchases as possible.

I know this should be simple, but i just don't understand it for some reason. It seems that it's all setup so that you'll end up carrying a balance and have to pay interest. I guess when you consider that's how they make money, it isn't surprising.
 
There's a difference between having a balance and having a statement. The price on your statement is set in stone.

Let's say for example I charge $200 this month. My notification e-mail arrives and shows that I owe $200. Well, let's say I charge $100 more. My new balance is $300. So I owe Citi $300. However, I only have to pay $200 since that's what my statement is for. The $15 you're talking about was added to your balance.. not your statement.

If you can afford it, just do what I do. Whenever you get your notification e-mail, just pay whatever it is that you owe, and forget about it for another month.
 
If you paid for something on the 15th and it took 3 days to process, it will be on your next statement. That's how it works for my card at least. Whatever you have listed online (completed charges, not pending charges) is what is on your statement. Anything that's still pending or hasn't been completed will show up on your next statement.
 
[quote name='JolietJake']I don't think i still quite understand the payment schedules these companies use. For example: If i get my bill in the mail and pay it in full, what will happen if i use the card after that? Will those purchase made afterward go on the next bill or will it be added to the one i just paid off? It seems that anything i charged continued to be added to this statement. If i had paid it off last week and continued to use it, it seems like i still would have had a balance due on the 17th(my due date). That is apparently where the $15 came from, it was processed after i sent my payment. This is why i waited til the day before, to make sure this payment would be for as many purchases as possible.

I know this should be simple, but i just don't understand it for some reason. It seems that it's all setup so that you'll end up carrying a balance and have to pay interest. I guess when you consider that's how they make money, it isn't surprising.[/quote]

This can depend on your Credit Card company but MOST of the ones i have Dealt with are as follows.
And by no means am I an expert.

Say on the 3/16 (Billing close date 3/12, Payment Due by the 3/31) I got a bill from Bank of America or Chase, says I owe $200, but on the 3/13 or 3/17 I buy gas with that card for $25. Generally I would only owe $200 by 3/31 and the $25 would get put on next months bill with NO INTEREST Charged until after 4/30. (Depending on free period of your card. )

EDIT-

[quote name='PhrostByte']There's a difference between having a balance and having a statement. The price on your statement is set in stone.

Let's say for example I charge $200 this month. My notification e-mail arrives and shows that I owe $200. Well, let's say I charge $100 more. My new balance is $300. So I owe Citi $300. However, I only have to pay $200 since that's what my statement is for. The $15 you're talking about was added to your balance.. not your statement.

If you can afford it, just do what I do. Whenever you get your notification e-mail, just pay whatever it is that you owe, and forget about it for another month.[/quote]
Ah you beat me to it.

Just out of curiosity, do you pay the Balance at that point or just the amount on the statement?
 
[quote name='PhrostByte']There's a difference between having a balance and having a statement. The price on your statement is set in stone.

Let's say for example I charge $200 this month. My notification e-mail arrives and shows that I owe $200. Well, let's say I charge $100 more. My new balance is $300. So I owe Citi $300. However, I only have to pay $200 since that's what my statement is for. The $15 you're talking about was added to your balance.. not your statement.

If you can afford it, just do what I do. Whenever you get your notification e-mail, just pay whatever it is that you owe, and forget about it for another month.[/quote]
Ah you beat me to it.

Just out of curiosity, do you pay the Balance at that point or just the amount on the statement?
 
I always pay the balance. I don't really have any logical explanation as to why I do it... I think maybe psychologically... when I pay more than I owe, I'll have less money in my checking account, so maybe I subconsciously spend less as well? Anyway, this is just personal preference... doesn't really matter.
 
I just pay the statement balance. I suppose the extra money left in my checking/savings account gives me more interest (negligible amount, I'm sure though) at the end of the month.
 
thanks guys, i think that makes it a bit more clear. My goal is avoid paying interest, that's why i got upset at having a balance of $15, i don't want to pay interest on the $15. Hopefully that won't be charged interest until after next months due date, which i would pay before they charged interest of course.
 
Originally Posted by aea414
I have a few cards(either 0 bal, and any charges are paid in full every month.), I have recently starting using a my Amazon Chase rewards card for for 1 pt per $ everyday (3pts/$ at Amazon) but was looking to a little better rewards like the Forward card mentioned here.
I was wondering with all of the uncertainty with Citi is this safe?
That's a good question... who's to say really? The worst that can happen is that Citi goes under and you don't have to pay your card bill HAHAHA.
Click to expand...

When banks go under that does not cancel your debt obligation. What usually happens is the portfolio is sold by the feds to other banks.

I notice a lot of people in this thread use cards with points. In my opinion the best way to take advantage of rewards cards is to use the ones with cash. I have a card with Charles Schwab bank that gives me 2% cash back monthly on all my purchases. I combine this with my penfed for 5% back on gas and I easily average $60 CASH in my pocket every month. Much better than waiting for points to accumulate to use on some stupid gift card.
 
[quote name='nuugatman']When banks go under that does not cancel your debt obligation. What usually happens is the portfolio is sold by the feds to other banks.

I notice a lot of people in this thread use cards with points. In my opinion the best way to take advantage of rewards cards is to use the ones with cash. I have a card with Charles Schwab bank that gives me 2% cash back monthly on all my purchases. I combine this with my penfed for 5% back on gas and I easily average $60 CASH in my pocket every month. Much better than waiting for points to accumulate to use on some stupid gift card.[/quote]

I can't speak for everyone else but I redeem my points for student loan rebates, which carry a 1 point : 1 cent ratio... effectively making my card a 5% card. I use my PenFed for gas.
 
I can't speak for everyone else but I redeem my points for student loan rebates, which carry a 1 point : 1 cent ratio... effectively making my card a 5% card. I use my PenFed for gas.
Click to expand...
What interest rate are your students loans at? You might come out better putting cash rewards into a high yield savings, although the difference is probably negligible. At any rate once you get those loans paid off I highly recommend upgrading to something else to compliment your penfed card because thankyou points suck.
 
[quote name='nuugatman']What interest rate are your students loans at? You might come out better putting cash rewards into a high yield savings, although the difference is probably negligible. At any rate once you get those loans paid off I highly recommend upgrading to something else to compliment your penfed card because thankyou points suck.[/QUOTE]


Student loan rebates are cashable from what I understand. So they don't need to be directly applied to student loans. So, essentially through student loan rebates, you can get 5% cashback, which you can do whatever you please with it (high-yield savings, spend it, etc.)
 
[quote name='nuugatman']What interest rate are your students loans at? You might come out better putting cash rewards into a high yield savings, although the difference is probably negligible. At any rate once you get those loans paid off I highly recommend upgrading to something else to compliment your penfed card because thankyou points suck.[/quote]

I don't have student loans.. it's a way of beating the system to get an actual 5% cash back. You just request a check and then cash it.
 
I'm trying to figure out a good cash back card for groceries. You guys have any good ideas? I was looking at the chase freedom card but when i called them they said they do not offer the three top catagories at 3 percent back anymore.
 
I don't have student loans.. it's a way of beating the system to get an actual 5% cash back. You just request a check and then cash it.
Click to expand...

That's sounds pretty nice. What categories can you get 5% in? Do you have to accumulate a certain amount?
 
[quote name='nuugatman']That's sounds pretty nice. What categories can you get 5% in? Do you have to accumulate a certain amount?[/quote]

Restaurants, bookstores, movie theaters, rental places, etc. You can redeem in 25, 50, 75, 100 etc $ intervals.
 
Question, Is it possible to have 2 different citi cards that offer rewards points and have them both linked to the thank you site. Would be great to get the 5% that mtvu offers on food bookstores & theatres then switch over to the city platinum amex for 5% on gas groceries & drug stores. That would pretty much have u covered for 5x points for everything.
 
I just recently got a Discover card that will give as much as 5% cb on certain purchases. Its also real low apr, like 6%. Other card is the Sony Playstation card, gonna eventually use the reward points for ps3 related items. And im dumping the Capital One Card ive been using since 95 since i no longer have any use for it and they are raising the apr way up in May...
 
pbnate: Yea.. I have 2. Every hard pull affects your credit score, but not by much.

farfus: If your Capital One is your oldest card, I wouldn't recommend canceling it.
 
Well they are jacking the apr way up in about two months and basically gave me the option to decline the increase. I havent used the card in probably 5 months since im working on Sony Reward points mostly atm. Also as far as credit rating goes, mine is pretty high anyways so that isnt much concern.
 
I just want to confirm something. I got my citi statement for this billing period, now the statement balance doesn't show some thing i've charged. If i pay just the amount on the statement, will i be charged interest on the rest that doesn't show on it? There is about $300 for a set of tires that didn't make it onto this statement. I've been paying the balance off in full.
 
[quote name='JolietJake']I just want to confirm something. I got my citi statement for this billing period, now the statement balance doesn't show some thing i've charged. If i pay just the amount on the statement, will i be charged interest on the rest that doesn't show on it? There is about $300 for a set of tires that didn't make it onto this statement. I've been paying the balance off in full.[/QUOTE]

As long as you've been paying the statement balance off in full on time, no interest will be charged. I wait for the closing date to buy things sometimes just because it effectively gives you an extra month to pay, heh
 
[quote name='JolietJake']I just want to confirm something. I got my citi statement for this billing period, now the statement balance doesn't show some thing i've charged. If i pay just the amount on the statement, will i be charged interest on the rest that doesn't show on it? There is about $300 for a set of tires that didn't make it onto this statement. I've been paying the balance off in full.[/quote]

This will show up on your next statement and you can pay it then without interest. Also, if you feel so inclined, you can schedule up to three online payments during a billing period, so once the purchase for the tires is posted you can pay it then. But if you wait until the next statement you won't be charged.
 
[quote name='farfus']Well they are jacking the apr way up in about two months and basically gave me the option to decline the increase. I havent used the card in probably 5 months since im working on Sony Reward points mostly atm. Also as far as credit rating goes, mine is pretty high anyways so that isnt much concern.[/quote]

Ok well I'm just passing along what I've seen around finance sites, I've heard that it's important to keep your oldest account open (even if you don't charge anything on it and just have the card locked away somewhere). How important is it? I dunno.

Jake: As long as you pay at least what the statement asks for, you won't have to pay interest.
 
[quote name='PhrostByte']Ok well I'm just passing along what I've seen around finance sites, I've heard that it's important to keep your oldest account open (even if you don't charge anything on it and just have the card locked away somewhere). How important is it? I dunno.[/quote]

I agree. Rate jacks are just an unfortunate reality right now. However, I would advise you not to close the card. As long as it doesn't have a annual fee, just stick it in the sock drawer and let it age. The age of your accounts is a major part of your credit score.

However, if the OP already declined the rate jack, he may have effectively closed the account already. That's usually how it works, the bank informs you that you can opt out until a certain period and then the account will be closed.
 
Alright. I don't mean to monopolize this thread but I just wanted to share my experience with Citi credit cards, particularly those that are eligible for ThankYou points.

I have three Citi cards. The mtvU, the Diamond Preferred, and the new Forward.

I get points for all of my major expenses: entertainment (books, movies, music), groceries and gas.

So far I have accrued a nice collection of rewards:

03/26/2009
10,000
$100 Sears Gift Card
1
In Progress
03/04/2009
2,200
$15 iTunes Gift Card
1
Shipped
10/15/2008
6,000
$50 Target GiftCard
1
Shipped
05/08/2008
10,000
$100 Sears Gift Card
1
Shipped
11/04/2007
10,000
$100 Circuit City® GC

1
Shipped
05/11/2007
6,000
$50 Target GiftCard
1
Shipped
05/07/2007
10,000
$100 Target GiftCard
1
Shipped
12/05/2006
10,000
$100 Target GiftCard
1
Shipped
 
Alright. I don't mean to monopolize this thread but I just wanted to share my experience with Citi credit cards, particularly those that are eligible for ThankYou points.

I have three Citi cards. The mtvU, the Diamond Preferred, and the new Forward.

I get points for all of my major expenses: entertainment (books, movies, music), groceries and gas.

So far I have accrued a nice collection of rewards:
3395840202_2305df413f.jpg



That's $615 for free in three 2.5 years. :) I say free because I do not pay interest or annual fees on these cards.

Also, I usually sell these gift cards on eBay. Target and Sears gift cards go for about .97-.99 cents on the dollar and I think that's good enough for me.

You can also use the points for student loan payments, but my student loan will likely be forgiven if I go into the public sector (which I plan to do, but that's a whole different story. :D)

So yeah... Ask me any questions you might have regarding the ThankYou Network or Citi cards.
 
Alright, thanks guys, think i finally understand how the payment schedules for these cards works.

edit- People have had luck cashing those student loan payment checks at their own banks law professor.
 
[quote name='Law_Professor']I agree. Rate jacks are just an unfortunate reality right now. However, I would advise you not to close the card. As long as it doesn't have a annual fee, just stick it in the sock drawer and let it age. The age of your accounts is a major part of your credit score.

However, if the OP already declined the rate jack, he may have effectively closed the account already. That's usually how it works, the bank informs you that you can opt out until a certain period and then the account will be closed.[/quote]

Yupyupyup. I can't claim to know exactly how it works but I've already received a similar offer from CapitalOne. It basically said, 'we're upping your APR rates, if you want decline this increase feel free to close your account'. So basically, I think the rates are upped if there is a lack of consumer input, and of course if you disagree with the rate hike you can close the account. I don't know what the consequences of closing the account would be though.. probably the same as closing it at any other times.
 
[quote name='PhrostByte']Yupyupyup. I can't claim to know exactly how it works but I've already received a similar offer from CapitalOne. It basically said, 'we're upping your APR rates, if you want decline this increase feel free to close your account'. So basically, I think the rates are upped if there is a lack of consumer input, and of course if you disagree with the rate hike you can close the account. I don't know what the consequences of closing the account would be though.. probably the same as closing it at any other times.[/quote]

Yeah, it's a voluntary close. The credit report would read "closed by consumer."
 
I dont use credit much, although my credit score is around 850, figure i will survive getting rid of my Cap One account. They never liked the fact that i paid off my debt every month, not letting them make any money off me....
 
Damn, Citi. I signed up for forward and now they want all this extra crap from my school and last telephone bill. Not to mention their application processing dept has bad hours (Though I do like getting Native English speakers when I call 8-8 M-F.)
 
I'm trying to decide on what to get for my first credit card. I've just been using my debit card for purchases, but figured I should build up some credit and might as well get some rewards for what I may buy. My gas station doesn't take credit, I don't buy groceries, and I get fast food once a week max. Pretty much any games or whatever else I buy come from various websites like Amazon. Considering how little money I spend (community college student living at home), it looks like the Sony Rewards card is the best deal for me (as I could build up points from daily visits to their website). Is there another card that would be significantly better for my situation or should I just go with the Sony card?
 
[quote name='Darklighter']I'm trying to decide on what to get for my first credit card. I've just been using my debit card for purchases, but figured I should build up some credit and might as well get some rewards for what I may buy. My gas station doesn't take credit, I don't buy groceries, and I get fast food once a week max. Pretty much any games or whatever else I buy come from various websites like Amazon. Considering how little money I spend (community college student living at home), it looks like the Sony Rewards card is the best deal for me (as I could build up points from daily visits to their website). Is there another card that would be significantly better for my situation or should I just go with the Sony card?[/quote]

Only get the Sony card if you're a Sony fan boy like Mana Knight. :lol: How come your gas station doesn't take credit? That's weird.. go to a different gas station. Also, the right card for you is the Citi Forward. 5 reward points for movies, book stores, and restaurants. Amazon.com counts as a book store.
 
[quote name='PhrostByte']Only get the Sony card if you're a Sony fan boy like Mana Knight. :lol: How come your gas station doesn't take credit? That's weird.. go to a different gas station. Also, the right card for you is the Citi Forward. 5 reward points for movies, book stores, and restaurants. Amazon.com counts as a book store.[/quote]
I get gas at Arco because it's 10-20 cents cheaper than the other stations.

I only see 2-3 movies a year in theaters and don't go to fast food/restaurants all that often. The only place I see the citi card being being better for me is Amazon, and I don't think the extra 4 points/dollar on my amazon purchases would surpass the free 120 points/week from Sony Rewards. I don't buy THAT much from Amazon. :p

I'm not a fanboy like Mana Knight, but I do own a PS3 and PSP, and they are my most played console and handheld respectively. Finding sony products shouldn't be a problem (and I like the idea of getting reimbursed in points rather than having to buy stuff at inflated values).

While is looks to be a better deal, I have to admit the sony card would require a bit more effort on my part. If I were to opt for a citi card instead, would MTVu be the best choice?
 
The only benefit of MTVu over Forward is that you can submit your grades for points. The Forward has more points for paying your bill on time. You can also redeem points for student loan rebates at a 1 point:1 cent ratio.
 
I won't have any student loans until I transfer, which is a good 1 1/2 years away.

Let me think, the forward gives 100 points/month for paying on time, while the Sony card should give 120 points/week for stuff on their website. That puts the Sony card on top by 380 points. If everything I bought qualified for 5 points/dollar, I would need to spend $76 a month to make up those points and then $20 a month to make up for the 1 point/dollar I would get from the Sony card. So, let's say I would need to spend $100/month on amazon/restaurants/movies to make the Citi Card a better deal. Better than I originally thought, but I don't see myself spending that most months. It would probably end up close, though, and again, the citi card would be much less of a pain. Is there anything else I'm missing? I'm still undecided on which way to go.
 
You can just deposit the student loan rebates to your checking account, you don't have to use them for student loan rebates.

Listen, I'll be honest I don't know much about the Sony card. But I know that it doesn't get any respect on finance forums. The reason for this is probably because it's a big short-term-gain-in-short-period-of-time kind of card. Also, the only rewards are Sony products. What you want is a card that'll be good to you for a long period of time. That way, you can build a solid credit history with it, get credit limit raises, etc.
 
I'm sick of my no rewards card from Capital One (they seriously do nothing for me-- I think in three years they raised my spending limit once) I also found out my credit score is nearly 800. I'm not a student though, so I guess I gotta take a look at Penfed or some other card.
 
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