AcesAndEights
AcesAndEights
Joined: Jan 5, 2012
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November 13th, 2013 at 8:10:18 PM permalink
Quote: rdw4potus

I'm confused, why not use the card? Definitely don't carry a balance, but for $100 and 2% (or what ever the points-back rate is) why not take the free money?


The cash back rate is only 1% for normal purchases, and I have a Capital One that is 1.5% on all purchases, a Chase that is 2% on restaurants, and a Discover that has rolling 5% promotions. The TR card does have 2% on "airlines, gas and groceries," so if I were to sign up for it, I would use it for those things, as well as for the 5% at TR resorts.

Playing the CC rewards game can be a PITA if you really want to maximize your cash back and minimize/eliminate fees. Or you can just get one basic card that has reasonable rewards and stick to it.

I've decided that I'm going to hold off on signing up for this card, as I foresee a time in the future when I might lose my Platinum status. At that point I'll sign up and get the free upgrade.
"So drink gamble eat f***, because one day you will be dust." -ontariodealer
teddys
teddys
Joined: Nov 14, 2009
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November 13th, 2013 at 8:23:38 PM permalink
Quote: AcesAndEights


Playing the CC rewards game can be a PITA if you really want to maximize your cash back and minimize/eliminate fees. Or you can just get one basic card that has reasonable rewards and stick to it.
.

Tell me about it. I signed for the AmEx Starwood card, and spent $5,000 on prepaid gift cards to get the 30,000 bonus points. I was able to cash out $2,500 of the gift cards before they locked my account. Now I'm screwed and can't get my money back. Flying too close to the sun...
"Dice, verily, are armed with goads and driving-hooks, deceiving and tormenting, causing grievous woe." -Rig Veda 10.34.4
Perdition
Perdition
Joined: Sep 3, 2013
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November 13th, 2013 at 8:42:51 PM permalink
Yeah I tried to get the card a couple months back was denied. In calling to ask about some of the benefits found out certain places are 2x points so if you tried to use the card there it would actually be only 50 dollars in credit instead of 100. Thankfully it looks to only be at some of the high end restaurants.

From what I heard from other CET regulars and TR card holders is it is mainly used as a RC grind. 5x points per 1 dollar spent in a CET property. Also people have friends front them money and then use their card to buy their plane tickets, gas and groceries for 2x points. Stuff like that.

Doesn't seem bad for a card to pay off the balance every month. Also people like the instant Platinum. I think if they give Platinum and you already have it, they guarantee status for the following year. But like others have said in this thread better to know for sure when you are going to slip down to gold and then use that as an insurance policy.
wroberson
wroberson
Joined: May 11, 2011
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November 13th, 2013 at 9:28:44 PM permalink
The interest rate is too high for me and I just got a new card.

I do have an offer from SW Air that involves a 95 annual fee, double miles on certain purchases and if you spend X amount in 1st 3 months, you get 50,000 miles which is good for 2 RT tickets to anywhere they fly. The APR is only 15% and slightly higher than my Capital One card. I went a little deeper and for those same 50,000 points, you can get 5 one way tickets, (to Vegas) through SW and airfare for 88 bucks at a different airlines. So for the same 50,000 miles + about 500 in cash, I could get 5 trips. I have until Christmas to decide. Of course once you set up your 2 RT tickets, or 5 one-way, you can pretty much cancel the card or transfer the balance to a different card.

My input is if you have cards with balances and know your credit score is good enough, get a card with 0% offer on balance transfers and new purchases. You'll likely save more money, like 20%, of what you owe on the interest if you generally have a monthly balance. Also, you're monthly payment will drop and you're be able to save a few more bucks.

Overall, I'd say keeping a good credit score is worth more than $120.00.
Buffering...
Tomspur
Tomspur
Joined: Jul 12, 2013
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November 13th, 2013 at 9:41:51 PM permalink
Quote: wroberson

The interest rate is too high for me and I just got a new card.

I do have an offer from SW Air that involves a 95 annual fee, double miles on certain purchases and if you spend X amount in 1st 3 months, you get 50,000 miles which is good for 2 RT tickets to anywhere they fly. The APR is only 15% and slightly higher than my Capital One card. I went a little deeper and for those same 50,000 points, you can get 5 one way tickets, (to Vegas) through SW and airfare for 88 bucks at a different airlines. So for the same 50,000 miles + about 500 in cash, I could get 5 trips. I have until Christmas to decide. Of course once you set up your 2 RT tickets, or 5 one-way, you can pretty much cancel the card or transfer the balance to a different card.

My input is if you have cards with balances and know your credit score is good enough, get a card with 0% offer on balance transfers and new purchases. You'll likely save more money, like 20%, of what you owe on the interest if you generally have a monthly balance. Also, you're monthly payment will drop and you're be able to save a few more bucks.

Overall, I'd say keeping a good credit score is worth more than $120.00.



I hope you don't mind me asking but did you get the Southwest offer in the mail? My wife and I have a Jetblue card and because we live in Vegas we are thinking of getting a Southwest Card for the miles. I wonder if the offer is open to anyone who applies or would it be a mailer specific offer?

Thanks
“There is something about the outside of a horse that is good for the inside of a man.” - Winston Churchill
Perdition
Perdition
Joined: Sep 3, 2013
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November 13th, 2013 at 9:53:00 PM permalink
Don't know if this helps but the SW page has some cards that sound similar to the above card though Chase Bank.

SW card
terapined
terapined
Joined: Dec 1, 2012
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December 29th, 2013 at 12:38:31 PM permalink
Review of Total Rewards Visa card after Vegas trip.

I went to Vegas Caesars last Monday to check up on my rewards for signing up for the Visa.
The two 24 hr buffet of buffet passes were blacked out Christmas week. I was kind of disappointed but they are still redeemable. I just scheduled a late March Vegas trip so I will redeem them at that time.
Got upgraded from Gold to Platinum. Love it because I'm a low roller.
With Platinum status, I was able to decline the resort fee for my stay at Ballys. Of course no resort fee means no benefits of resort fee meaning no wifi. If I wanted Wi-Fi, which is included in the resort fee, I had to pay extra. So I simply used the free wifi at the poker room.
Platinum status at the Paris buffet, I was able to skip a real long long line and seated right away.
Platinum status at the Bachanal simply allows me to pay fast but I have to get in same line as the masses to be seated.
Total rewards will give me 10000 points, 100 dollars at Caesars, for spending 750 1st 3 months. Great deal, Where I normally spend cash such as at the grocery store, I used the Visa. It was easy to spend the 750 and I paid it right back so no interest charge.
In Vegas, the whole 750 I spent had not hit the credit card yet but a lot of it did. Caesars said I had 60 to spend on my Platinum. Cool, free money.
I spent the 60 on the Paris and Bachanal buffets paying the difference since both buffets total over 60, still a great deal.
I'll be in Vegas in March and I'm sure I'll have 40 more to spend at Caesars.

Overall, Extremely happy with this deal. I love the Paris buffet and it always has long lines. Now I can eat at this buffet anytime, no waiting.
I always keep a zero balance so spending 750, paying back 750 was so easy and I get a free 100 for doing this. Fantastic, free money. Aint this a great Country.
I highly recommend this card if you can keep a zero balance.
Bottom line is Caesars is gambling I will borrow and hold a balance that they can charge interest on.
Gamble lost baby. Love it. Don't you love it, the tables are turned, Caesars is gambling on me and losing :-)
"Everybody's bragging and drinking that wine, I can tell the Queen of Diamonds by the way she shines, Come to Daddy on an inside straight, I got no chance of losing this time" -Grateful Dead- "Loser"
rainy
rainy
Joined: Dec 19, 2013
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December 29th, 2013 at 1:22:54 PM permalink
Nice review. I'll probably grab the card, but I don't stay at Caesars properties all too much. Maybe my next Vegas trip.

Is it no annual fees if you spend a certain amount with the card annually, or just plain 0 fees?
Boz
Boz
Joined: Sep 22, 2011
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December 29th, 2013 at 1:46:48 PM permalink
Quote: teddys

Tell me about it. I signed for the AmEx Starwood card, and spent $5,000 on prepaid gift cards to get the 30,000 bonus points. I was able to cash out $2,500 of the gift cards before they locked my account. Now I'm screwed and can't get my money back. Flying too close to the sun...



I missed this when you posted, but what was the excuse given for the locking of the account?
Sabretom2
Sabretom2
Joined: Mar 3, 2013
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December 29th, 2013 at 2:17:39 PM permalink
I no longer use my Shell or Chevron cards. My TR card is now the only gas card for the wife and I (2x points). That's about 8000 points a year.

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