The Credit Card thread (Cash Back)

PhrostByte

PhrostByte

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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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[quote name='FloodsAreUponUS']Did the photoshoping your grades really work?

They didn't check it with the school?[/quote]

fuck no they didn't check.. what do you think they're gonna call my school up and ask for my transcript? I have a right to my privacy don't I? :)
 
Everyone who has the MtvU card should pay attention to when the "Request a Credit Line Increase" link shows up either on the main page or under "Tool and Services". Whenever it shows up, I think you are guaranteed an increase of some sorts automatically. I just did mine again for the second time in the last 4 months, so now I have a credit line of $7000.
 
Yeah the points system is all screwed up for me on my mtvU card. I only get the regular 1 point per dollar at my campus bookstore, but i get 5 points per dollar when i buy meal plan money. I've had the card for about a half a year and im closing in on 10,000 points. its just too bad all the $100 gift cards are to places i dont shop at, and buying 2 $50 bestbuy ones costs 12,000 points. (2,000 more than a $100 gc)
 
Try some student loan rebates. My campus bookstore also only showed up as 1 point. Here's why: Merchant Category: Organizations - COLLEGES,UNIVERSITIES,PROFESSIONAL

Charge To: Standard Purch
 
I'm guess I'm lucky that my University bookstore markets itself as a Barnes and Noble store, so I get the satisfaction of the points piling on when I buy books.
 
Yea we got jipped. Oh well, it's cheaper to buy from amazon anyway. Also, did I mention that my $25 student loan rebate arrived? It's made out to Bank of America. I'll let ya'll know how my deposit attempt goes.
 
That's lame dude.. hey.. question, any of ya'll know where the amazon gift cards are at thankyou.com? I guess maybe they're sold out or something?
 
[quote name='pbnate88']Did you guys see the rewards for the new card? Absolutely kills the MTVU[/quote]

ahhh....
you could at least post a link
(the card name would also be helpful).

I'm guessing it is this:
Citi Forward Visa
http://www.fatwallet.com/forums/finance/908171/
http://www.citiforward.com

"[FONT=Arial, Helvetica, sans-serif]100 points per billing period if you pay on time and stay under the credit limit
5 points per dollar on restaurants, books, movies, music
1 point for everything else
0.25% APR reduction when "using credit wisely""[/FONT]
 
There's another reason to get my credit score up. I know if I apply for the card right now that I will not get approved. I guess I'll be stuck with my crappy credit card for another couple of months.
 
[quote name='wbc1228']ahhh....
you could at least post a link
(the card name would also be helpful).

I'm guessing it is this:
Citi Forward Visa
http://www.fatwallet.com/forums/finance/908171/
http://www.citiforward.com

"[FONT=Arial, Helvetica, sans-serif]100 points per billing period if you pay on time and stay under the credit limit
5 points per dollar on restaurants, books, movies, music
1 point for everything else
0.25% APR reduction when "using credit wisely""[/FONT][/QUOTE]

Maximum APR reduction is 2%. Says it'll start at ~12%, so that means you'll be able to knock it down to 10%, (which is better than my MTVu which is sitting at 11.24% atm). There's also 6000 points if you make at least $50 in purchases within the first 3 months and another 5000 points given to you if you sign up for paperless statements. So, that's 11,000 points for spending $50 there.

This card is better than the MtvU, if:
1.) You don't like sending the transcripts/grades sheets in
2.) don't have great grades (consult photoshop)
3.) don't have many semesters left (maybe photoshop will continue to work?)
I say this because while the 11,000 insta-points is great, if you had 4 years in college with this card (that's 8 semesters), that's 16,000 points if you got the As or shopped them. Plus more, possibly if they take Professional or Graduate school grades.
4.) You really like that extra 1-2% off your APR.
 
I'll be graduating in May. Maybe I should apply for this new card? After all.. I hate the look of the MTVu card. I wonder if I should switch... more points for paying on time is a decent incentive. Is this thing brand new?
 
[quote name='wbc1228']ahhh....
you could at least post a link
(the card name would also be helpful).

I'm guessing it is this:


I am so sorry can you forgive me? :booty:

My bad, was doing two things at once and thought I linked it.

I dont know phrost because I also graduate in May but then again i've only had this card for a month. Maybe someone who gets this can chime in better
 
Well, I decided to take the plunge. I applied last night and was NOT auto-approved. This is the first time this has happened. My only guess as to why it went down the way it did was cuz I already have one MTVu card, and I was denied the Citi Platinum (I understnad that, since it's only for big spenders). My credit history is spotless so hopefully I'll be approved some time soon, then I can transfer my credit line from my MTVu to my Forward.

In other news, I cashed my student loan rebate check without a hitch. Teller barely even looked at it. So.. to all you naysayers, these Citi cards truly are 5% if not more... I've only had the MTVu for about 2 months and spent only about $900. That said, I got about 90,000 points. :D
 
[quote name='pbnate88']Wait $900 = 90,000 points? What am I missing here?[/quote]

that has to be a massive typo or a crazy glitch.
wow......
100 points per dollar
wtf?
citi has never made a mistake like that my citi amex.
(which sucks so much I don't even use it anymore)
 
Hey guys. I wanted to ask a little advice about CCs. I'm a community college student, I don't spend too much money (like seriously, maybe less than $300 a month since I still live at home), but I'm thinking about opening an account just because I haven't had one 'til now minus my ATM card. I want to open an account so I can start building my credit, since slow building is better than nothing.

I'm assuming it might be a good idea for me to open a MTVu card, but need some advice before jumping into it thinking I know what I'm doing. Thanks.
 
These guys know more than me but I am also a CC student but spend a little more a month more than you. I would definitely check out the MTVU. You can also Google things like credit card 101 to get an understanding if you would like.
 
Here's the thing.. I think the only advantage that the MTVu has over the Forward is that you get points for grade submission. If you don't care about that, I don't see any benefit of MTVu over Forward.
 
[quote name='PhrostByte']Here's the thing.. I think the only advantage that the MTVu has over the Forward is that you get points for grade submission. If you don't care about that, I don't see any benefit of MTVu over Forward.[/QUOTE]

Concur. Grade submission is kinda of pain anyway. I would just go with the Citi forward.
 
I have a question about credit cards. I currently have an Mtvu card and it expires in June. I would like to get the Citi Forward in its place. What happens when my Mtvu card expires? Will I have to cancel the Mtvu card so they don't send me another one?
 
[quote name='bballplaya210']I have a question about credit cards. I currently have an Mtvu card and it expires in June. I would like to get the Citi Forward in its place. What happens when my Mtvu card expires? Will I have to cancel the Mtvu card so they don't send me another one?[/quote]

Yep, you will have to cancel it or they'll send you a new one. However, if the MTVu is your oldest card (the account has been open the longest), I would keep it open just for your credit history.
 
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?
 
I have a question about the student loan rebate. What was the process in requesting it? I noticed that you have to call in to redeem it.
 
I have two credit cards currently. One came straight from HSBC - a Mastercard - after I opened my first checking account in 2005 or 2006 (note: this is not the debit card) and the other was to take advantage of the $30 off purchase on the Amazon Visa card in 2007. I stopped using the HSBC Mastercard soon after the Amazon Visa but did not cancel it. I always paid both credit card bills in full, on time once they send me the monthly statement notice. Full disclosure: I've never had a job, part-time or otherwise, and I'm currently on break from college.

Will I be okay with starting another (specifically the Citi Forward one) and not using the previous ones? Where can I check my credit score? As soon as I get enough points on the Amazon Visa and get the gift card, I'll probably want to use a better card.
 
[quote name='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?[/quote]

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.

[quote name='chicodeazn']I have a question about the student loan rebate. What was the process in requesting it? I noticed that you have to call in to redeem it.[/quote]

That's right. 1-800-THAN-KYO(U). 1-800-842-6596. Just tell them what your lender is. If you want, you can just tell them the name of your bank and deposit the check to your checking account.

[quote name='Hostile']I have two credit cards currently. One came straight from HSBC - a Mastercard - after I opened my first checking account in 2005 or 2006 (note: this is not the debit card) and the other was to take advantage of the $30 off purchase on the Amazon Visa card in 2007. I stopped using the HSBC Mastercard soon after the Amazon Visa but did not cancel it. I always paid both credit card bills in full, on time once they send me the monthly statement notice. Full disclosure: I've never had a job, part-time or otherwise, and I'm currently on break from college.

Will I be okay with starting another (specifically the Citi Forward one) and not using the previous ones? Where can I check my credit score? As soon as I get enough points on the Amazon Visa and get the gift card, I'll probably want to use a better card.[/quote]

While not having a balance on your card doesn't help your credit score, it also doesn't hurt it.. I see no reason for you not to get the Forward as long as you can spend responsibly. These cards are only worth it if you pay in full each month. Go ahead and get another one.

About credit reports... you can get one free credit report per year at annualcreditreport.org.. after that there's a bunch of free ones you can sign up for and then cancel after you get your report. freecreditreport.com is one of them. Of course, there's also sites where you can just pay for constant reports.
 
More questions because you guys are more knowledgeable than I.

1) There's three options of payment available to me when I pay my bill online, (1) the statement balance, (2) in full, and (3) the minimum. I always pick #2 but picking #1 will also not net me interest correct?
2) My HSBC Mastercard will end mid-year. The Amazon Visa will end late next year. Do I have to activate the new ones they will be sending me?

I appreciate all the help. Thanks in advance!
 
[quote name='Hostile']More questions because you guys are more knowledgeable than I.

1) There's three options of payment available to me when I pay my bill online, (1) the statement balance, (2) in full, and (3) the minimum. I always pick #2 but picking #1 will also not net me interest correct?
2) My HSBC Mastercard will end mid-year. The Amazon Visa will end late next year. Do I have to activate the new ones they will be sending me?

I appreciate all the help. Thanks in advance![/quote]

1] As long as you pay your bill amount in full, there's no interest. I always pay whatever it is I owe, which usually means that I pay more than the bill is for.
2] Yes.
 
That's all the questions I have for now. You've been very helpful.

I'll probably sign-up for the Citi Forward card as soon as I get near to the 2500 PTs needed on the Amazon Visa.
 
Maybe I shouldn't stay so close to my limit... Hmm. I know it's bad, but I can't help it. I completely blame PayPal for taking so god damn long to transfer my money into my checking account.
 
I have an interesting question about cards with rewards programs. Say I wanted to change what type of rewards I get.. has anyone ever gone about requesting this, and is it heard of or not?
 
[quote name='PhrostByte']About credit reports... you can get one free credit report per year at annualcreditreport.org.. after that there's a bunch of free ones you can sign up for and then cancel after you get your report. freecreditreport.com is one of them. Of course, there's also sites where you can just pay for constant reports.[/quote]

annualcreditreport.com you mean, I think.
Also, it's actually one free credit report per year from each of the 3 reporting agencies, so you can spread it out to get a report 3 times a year if you want; for example, you could request experian's report now, equifax's report in 4 months, then transunion 4 months after that.
 
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