Forum Thread

Earning and Maxing Credit Reward Points help?

Yuriku 46 21 August 5, 2016 at 02:18 PM
My wife and currently don't have credit cards, But are planning a 20k Kitchen renovation. If we are spending this money anyways I figure we might as well get some credit card rewards.

How would you suggest we best maximize our rewards? Being able to take a great trip would be nice.

Thanks for the help! if anyone has any specific step by step that would be great!

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#2
Which credit cards you select may depend on a couple of different facts.
-What kind of trip/where do you want to travel?
-Are you the one buying the items (cabinets, appliances, flooring etc)
-Are you buying the items from a big box store such as Lowes or Home Depot?

Here are a list of credit cards with good intro offers. The key will be to hit the limit you need to maximize your return for each card and use the card at certain locations if that helps increase returns. I listed several cards below but there are many options available.


Chase Sapphire- Spend 4K get 50K points, most value if redeemed for travel
Discover IT- 5% cashback (hardware stores this quarter) double cashback for an entire year for new cardholders
Chase Southwest- spend 2K get 50K points (roughly $860) there is a $99 annual fee but I have seen that refunded if the card is cancelled although no guarantees on that one.
Citi Double Cashback- 2% cashback on all purchases
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#3
Quote from Rob_799 View Post :
Chase Sapphire- Spend 4K get 50K points, most value if redeemed for travel
Discover IT- 5% cashback (hardware stores this quarter) double cashback for an entire year for new cardholders
Chase Southwest- spend 2K get 50K points (roughly $860) there is a $99 annual fee but I have seen that refunded if the card is cancelled although no guarantees on that one.
Citi Double Cashback- 2% cashback on all purchases
Yeah, having Home Improvement stores be a Discover 5% category this quarter (up to $1500 spend) is fortuitous. If you don't already have a Discover it card and sign up for a new one, then your cash back you earn in the first year is doubled, making it 10% off at Home Improvement stores.

Like suggested, you could also meet initial spending requirements for some card bonuses. This tool can help you find good card bonuses:
http://siftswift.com/en-us/credit...-up-bonus/

You could also try plugging your anticipated categorical spending (divide by 12 to pretend it's monthly spending) into the reward calculator at http://www.creditcardtuneup.com/ and it will look for good combinations of cards for your entered spending.
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