The Search for the Perfect Credit Card–Part 3
And the winner is. . .
The Discover® Student Card!!! I bet that was a surprise, huh? Well, it turns out that the actual winner was the Discover® More Card. With it’s 5% cash back in categories that change throughout the year, it’s 5%-20% cash back from participating online retailers, it’s 1% cash back on all other purchases, and it’s ability to increase your earnings by redeeming them for gift cards, this card was the winner. The Discover® Open Road Card was a second choice (it gave 5% cash back on all gas purchases), but as we did the math, we determined that, based on what we spent during the year, we would be better off with the More card. The Driver’s Edge card would have also offered good rewards, but the process to redeem them was too complicated. We preferred the ease of the Discover Card. The Citi card simply did not offer enough in rewards. When we applied for the Discover More card, however, my husband was rejected because he does not have any current revolving credit. However, they did approve him for the student card, which offers the exact same rewards as the More card. Once he graduates, he can convert his student card into the More card. Really, we are pretty happy with this setup. I have a Chase Freedom Card which (since I applied for it a while ago) gives me 3% cash back in my top three categories each month. So, whenever we make a purchase in one of my husband’s 5% categories, we will use his card, and whenever we make any other purchase, we will use my Chase Freedom card. Really, it will just be nice for my husband to start building credit. We plan on paying the card off in full every month.
Do you agree with our decision? What do you like/dislike about this card? Feel free to leave your comments!
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Very good choice. We all have to get cards that fit our needs, so there is no right and wrong. I needed a Visa or Master Card, because I don’t carry cash and use the card for everything. Visa is accepted in more places than any other card. I went with Chase because they are backed by a bank (important to me) and the freedom card had great cash back deals.