re: Rebate Credit Cards

From: SMabel555@aol.com
Subject: re: Rebate Credit Cards
Date: Wed, 9 Dec 1998 00:28:20 EST

Next Article (by Author): Roth IRA question and Request for year end tax tips. Somesh Rao
Previous Article (by Author): Re: Treasury Direct Rich Carreiro
Articles sorted by: [Date] [Author] [Subject]

>  Date: Tue, 8 Dec 1998 00:03:36 -0500
>  From: Mike Machnik <machnik@tiac.net>
>  Subject: Cash back MC/visa?
>  
>What good cash back (specifically) cards are
>  out there?  I know of GE Rewards, which has a $25 fee if you pay in full.

Discover pays me .25% up to $1K, .5% from $1K to $2K, .75% from $2-3K, and 1%
above $3K.Just today I got an offer for a 'deluxe' Discover.   For an $18 fee,
you get the same thing up $10K, then 2% above that.  It also offers a lot of
"Gold Card" type features like rental car insurance, etc.

I buy all my gas, groceries, plane tix, etc. with my Discover.  In a typical
year I spend $5K and get somewhere around $50 back.  NOTE:  If you pay any
finance charges (at 19%), you QUICKLY lose the advantage of cash-back. Many
restaurants don't take Discover. (800-347-2683)

I have received offers from Capital One Visa and Shell MasterCard.  Capital
One Platinum pays you .5%  up to $3K, then 1% above that and only charges 10%
interest and no annual fee.  (No 1-800 number given).  

Shell MC pays 1% on most purchases, and 5% on Shell Gas purchases BUT THE
REFUND IS PAYABLE IN SHELL GAS, not cash.  Interestingly, in my home town, the
Shell Station is usually 5% more expensive than the generic stations!!  They
charge 9.9% and waive the $20 annual fee if you buy a certain amount of Shell
gas. (For an application, 800-free-gas)

Interesting note:  Once or twice I've been late with a payment to Discover (I
always pay in full, I was just on vacation or lost the statement).  Each time,
Discover graciously credited me for all late fees and finance charges after
one phone call, thereby saving my cash-back bonus.  On the other hand, I was a
week late on one payment to Capital One and they said 'tough luck'.  That $20
late fee and $15 finance charge would have wiped out a modest cash-back
amount.

Good luck,
Scott

- -

Go to Jeff Salisbury LWGate Home Page.