AP16

thank you all for the Responses.

I think i will stay away from Penfed & proceed with Chase. Would you go with Ink Plus or Ink Cash? I'm only looking to open 1 not multiple

AP16

So what your saying is you Prefer ultimate rewards over the Amex cash back reward program?

roki

I do. But I did a little more digging though, and the Ink only pays 2% on the first $25K in gas/year. You'd hit that in less than 3 months.

If you're looking for one card, I'd probably go for the AMEX Blue Cash Preferred in your case. Basically, with the Ink, if you spend $2500/week, after a year you have:

10 weeks * $2500 per week * 2 UR points/$ = 50K UR points
42 weeks * $2500 per week * 1 UR point/$ = 105K UR points
Total: 155K UR points

With the BCP, you have:

52 weeks * $2500 per week * 3% cashback = $3,900 cash.

155K UR points is $1,550 in cash, $1937.50 in travel booked through Chase UR portal, or 155K miles in any number of Chase's transfer partners. This is where the value can come in. 155K miles can get you a lot on certain airlines, if that's what you're looking to do. I value UR points at 2.5 cents, which would be $3,875. It takes time and specific scenarios working out for you to attain that value, in general though. I'd rather have the $3,900 in cash, and unless you have a specific, large/aspirational goal in mind, it seems like the better option for you.

This math was with you spending $2,500/wk in gas. The discrepancy grows even larger in favor of the AMEX the higher than number goes.

frudd38

Amex Everyday Preferred would be 3x MR points, assuming you have 30+ transactions on the card per statement. I would just rotate it between 3x MR and 2x UR via Ink.

Daveyb101

155K UR vs. $3,900 makes for a great debate. But based on your hypothetical ($2,500/wk) wouldn't the Everyday Preferred card net 390K MR points? I think all of us would take the MR over the cash.

AP16

no go for AMEX. Defaulted with them over 10 years ago when i was very young and it appears they don't take that lightly and got denied a while back. I have excellent credit now in the 7s, Mistakes happen.

Although i know the amex preferred is best this unfortunately is not an option.

Would have to be Chase or other competitors. looking for the best bang for the buck

PS: whats the closest thing to these Amex's?

roki

Yes, assuming the OP has no trouble hitting 30 swipes/month, as well as what his intentions for the rewards are. I would absolutely take 390K MR points/year over $3,900 cash, and that's a good option for sure. Forgot about that card.

roki

My math was wrong, because I misread the terms of the Chase Ink. It's first $50K, not first $25K (for the Ink Plus and Ink Bold). I've corrected my math here:

With the Ink, if you spend $2500/week, after a year you have:

20 weeks * $2500 per week * 2 UR points/$ = 100K UR points
32 weeks * $2500 per week * 1 UR point/$ = 80K UR points
Total: 180K UR points

If AMEX is a no-go, I'd look at this.

frudd38

You could always get a bold and plus..

roki

That's true, and that would boost the earning by 50K UR points, for 230K total. Plus to 50K + 70K signup for 350K first year. That's lovely, for sure. I was operating on the "1 card" statement by the OP, though.

vagrants

....people who are making advices, have you used Ink Bold @ truck stop gas stations? Are you sure these types qualify? These types are not "consumer", you know.

roki

The Ink is a business/commercial card, so it certainly should qualify even at commercial pumps.

But sure, YMMV.

Daveyb101

The T&C do not seem to differentiate between "commercial" and "consumer" sellers, but rather mention only "gas stations." OP has been using his CSP card, and as such can easily consult his account online to determine how his purchases have been coded by Chase in the past.

AP16

ALL gas stations including truck stops are listed under "gas stations" so it would fall under the 2x per dollar.

Question however spoke to my wife & she inquired if we can have my son be the main holder of the Ink Plus business? Have him sign up and use our business info. Bad idea? can it be done? don't want it to be fraud although he is listed on the Corp as "Treasurer". Were wanting to help him boost credit (currently has good credit) to purchase a home? I would be an added on as an Authorized user!

chedv

Definitely do not include your son on any kind of credit for your company. Have him apply for his own card for his own expenses if he is trying to build credit. The trucking business is difficult at times and you don't want to adversely affect his credit if times get tough.

Make sure you check each travel center. I know Flying J and others have reward programs that you earn points (over and above credit card points) on each diesel purchase. You can redeem those points at the travel center for a shower, wifi, food, etc.

http://myrewards.pilotflyingj.com/pr...al_driver.aspx