Best credit card for cash back

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nalor511
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Re: Best credit card for cash back

Post by nalor511 » Sat Jan 14, 2017 7:20 am

Can anyone confirm that buying Amazon gift cards with the US Bank Cash+ card codes as a bookstore and earns 5% cash back?

A440
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Re: Best credit card for cash back

Post by A440 » Sat Jan 14, 2017 7:28 am

Alto Astral wrote:Amex Blue - Cashback
I agree, unless you are spending outside of the US. Then I would use Discover Card, as they do not charge foreign transaction fees.
Last edited by A440 on Mon Jan 16, 2017 7:28 am, edited 1 time in total.

Clivus1
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Re: Best credit card for cash back

Post by Clivus1 » Sat Jan 14, 2017 8:01 am

Amazon store card (not their credit card) provides 5% cash back on all Amazon purchases.

Fidelity Visa Signature rewards provides 2% cash back and requires no intervention on my part for redemption - unlike the Citi products.

I'm not patient enough to track categories.

afan
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Re: Best credit card for cash back

Post by afan » Sat Jan 14, 2017 11:36 am

Exactly.

Plus the hassle of coordinating which category on which card with my spouse would make it far more trouble than it is worth. A two percent discount on life with no extra hoops is the sweet spot for us.
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cal91
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Re: Best credit card for cash back

Post by cal91 » Mon Jun 05, 2017 5:53 pm

Any update to this thread now that it's 2017?

I'm looking to get a different credit card (1% cash back Visa through Wells fargo)

Eric76
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Re: Best credit card for cash back

Post by Eric76 » Mon Jun 05, 2017 6:18 pm

B of A cash back visa preferred platinum rewards for me. 5.25% back on gas (up to $1500 per quarter), 3.5% back on groceries (up to $1500 per quarter), 1.75% on everything else (unlimited).

Jags4186
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Re: Best credit card for cash back

Post by Jags4186 » Mon Jun 05, 2017 6:23 pm

USAA 2.5% card, no annual fee. Need a USAA relationship

Alliant offers a 3% card of year 1, 2.5% thereafter. $59/annual fee waived year one.

Discover IT Miles offers 3% cash back year 1, 1.5% cash back thereafter. No annual fee.

Bank of America Travel Rewards with Platinum Honors boost. 2.625% CB, no AF.

Helo80
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Re: Best credit card for cash back

Post by Helo80 » Mon Jun 05, 2017 6:31 pm

Kind of a pain to keep track of (especially with rolling categories), but:

USAA Amex -- 5% cb on gas and base/post purchases
Chase Freedom - quarterly 5% back on their chosen ones, usually Amazon at year's end.
Discover it - quarterly 5% cashback (doubles to 10% for first-year of being a card member)
Amex blue cash rewards - 3% cb groceries.
Citi cash card - 2% cb on everythink
Chase freedom unlimited - 1.5% cb on everything.

Those are my primary cards.

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Re: Best credit card for cash back

Post by SVT » Mon Jun 05, 2017 6:35 pm

The best is most likely BofA's Travel Rewards card at 2.625% back on everything with no limits, no Foreign Transaction Fees, and no Annual Fee.

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Re: Best credit card for cash back

Post by bayview » Mon Jun 05, 2017 6:56 pm

For us:

Amex Blue Cash Preferred: 6% on groceries (this equals anything from a grocery store, so if you're in California etc, it includes all your adult beverages, along with the usual motor oil and kitty litter). We run the numbers each year, and the cash back makes the fee worth it.
Penfed: 5% on gas
Chase Amazon: 5% (currently 10%) on Amazon
Citi Cash back: 2% on everything else

Plus Discover and Chase Freedom for rotating categories.

This pretty much takes care of all the excitement in our lives, although I'm waiting for USAA to offer its new card in our state.

A 5% card for garden centers would be pretty spiffy. :D
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munemaker
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Re: Best credit card for cash back

Post by munemaker » Mon Jun 05, 2017 7:40 pm

mbk734 wrote:... it's a MasterCard so it's more widely accepted.
Are you saying MasterCard is more widely accepted than Visa? I always pictured them as being equally accepted.

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Re: Best credit card for cash back

Post by Eric76 » Mon Jun 05, 2017 9:16 pm

SVT wrote:The best is most likely BofA's Travel Rewards card at 2.625% back on everything with no limits, no Foreign Transaction Fees, and no Annual Fee.
Aren't you limited on what you can redeem the rewards for?

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Re: Best credit card for cash back

Post by WolfgangPauli » Mon Jun 05, 2017 9:22 pm

I am using USAA 2.5% cash back.. very happy with it but I do think it is selective in who they offer it to.. Have no idea how they choose.
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Re: Best credit card for cash back

Post by radiowave » Mon Jun 05, 2017 9:40 pm

One footnote is how easy is it to cash in your rewards dollars? I find Discover is the easiest, just few clicks and you're finished. The Fidelity card, for some reason does not connect with the full view yet so can't use it to track expenses (go figure). I sent two emails in the past 6 months or so, and I get a "we're working on it" reply. AMEX is probably the worse to cashing in rewards, you have to log in, even though you are already logged into AMEX cc, and then get a slew of "offers" before you can cash in your rewards as a credit to your monthly statement. Capital One is about on par with Discover. I'm hoping Fidelity (Elan) will get their acts together and track credit card expenses - I like the ability to feed rewards automatically to a cash management account.
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Re: Best credit card for cash back

Post by triceratop » Mon Jun 05, 2017 10:04 pm

Eric76 wrote:
SVT wrote:The best is most likely BofA's Travel Rewards card at 2.625% back on everything with no limits, no Foreign Transaction Fees, and no Annual Fee.
Aren't you limited on what you can redeem the rewards for?
You are limited to "travel", which is Uber/Lyft, Taxis, some (all?) Hotels, airfare, train, etc.
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Re: Best credit card for cash back

Post by Eric76 » Mon Jun 05, 2017 10:34 pm

triceratop wrote:
Eric76 wrote:
SVT wrote:The best is most likely BofA's Travel Rewards card at 2.625% back on everything with no limits, no Foreign Transaction Fees, and no Annual Fee.
Aren't you limited on what you can redeem the rewards for?
You are limited to "travel", which is Uber/Lyft, Taxis, some (all?) Hotels, airfare, train, etc.
I don't travel much. Would rather get the cash back.

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triceratop
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Re: Best credit card for cash back

Post by triceratop » Mon Jun 05, 2017 10:54 pm

Eric76 wrote:
triceratop wrote:
Eric76 wrote:
SVT wrote:The best is most likely BofA's Travel Rewards card at 2.625% back on everything with no limits, no Foreign Transaction Fees, and no Annual Fee.
Aren't you limited on what you can redeem the rewards for?
You are limited to "travel", which is Uber/Lyft, Taxis, some (all?) Hotels, airfare, train, etc.
I don't travel much. Would rather get the cash back.
Then it's not the best for you. However it is probably the highest % general spending return for a card. That's why it's considered the best.

Of course, you can also save up these rewards for years and then redeem them when you go on a family vacation.
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Re: Best credit card for cash back

Post by mega317 » Mon Jun 05, 2017 11:36 pm

munemaker wrote:
mbk734 wrote:... it's a MasterCard so it's more widely accepted.
Are you saying MasterCard is more widely accepted than Visa? I always pictured them as being equally accepted.
That post was over a year ago. I think Fidelity's card became Visa recently.

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Re: Best credit card for cash back

Post by SVT » Tue Jun 06, 2017 4:55 am

Eric76 wrote:
triceratop wrote:
Eric76 wrote:
SVT wrote:The best is most likely BofA's Travel Rewards card at 2.625% back on everything with no limits, no Foreign Transaction Fees, and no Annual Fee.
Aren't you limited on what you can redeem the rewards for?
You are limited to "travel", which is Uber/Lyft, Taxis, some (all?) Hotels, airfare, train, etc.
I don't travel much. Would rather get the cash back.
It doesn't take much travel to get the full benefit. How much do you spend per month or per year? And it is cash back, it's just cash back on past travel charges.

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BL
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Re: Best credit card for cash back

Post by BL » Tue Jun 06, 2017 6:58 am

PenFed Power Cash Rewards, 2% cash back. Need either checking account with them or a military connection.

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Re: Best credit card for cash back

Post by onourway » Tue Jun 06, 2017 7:40 am

radiowave wrote:One footnote is how easy is it to cash in your rewards dollars? I find Discover is the easiest, just few clicks and you're finished. The Fidelity card, for some reason does not connect with the full view yet so can't use it to track expenses (go figure). I sent two emails in the past 6 months or so, and I get a "we're working on it" reply. AMEX is probably the worse to cashing in rewards, you have to log in, even though you are already logged into AMEX cc, and then get a slew of "offers" before you can cash in your rewards as a credit to your monthly statement. Capital One is about on par with Discover. I'm hoping Fidelity (Elan) will get their acts together and track credit card expenses - I like the ability to feed rewards automatically to a cash management account.
I don't think Amex's system is onerous enough to make it a deciding factor. The double-log in is odd, but after that it's about 3 clicks. I do it every month as my older Blue Cash card gives us 5% on all groceries/gas/drugstore purchases after we hit the yearly initial spend (usually happens in the first quarter of the year - means we get 9-10 months of 5% back).

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Re: Best credit card for cash back

Post by radiowave » Tue Jun 06, 2017 7:57 am

onourway wrote:
radiowave wrote:One footnote is how easy is it to cash in your rewards dollars? I find Discover is the easiest, just few clicks and you're finished. The Fidelity card, for some reason does not connect with the full view yet so can't use it to track expenses (go figure). I sent two emails in the past 6 months or so, and I get a "we're working on it" reply. AMEX is probably the worse to cashing in rewards, you have to log in, even though you are already logged into AMEX cc, and then get a slew of "offers" before you can cash in your rewards as a credit to your monthly statement. Capital One is about on par with Discover. I'm hoping Fidelity (Elan) will get their acts together and track credit card expenses - I like the ability to feed rewards automatically to a cash management account.
I don't think Amex's system is onerous enough to make it a deciding factor. The double-log in is odd, but after that it's about 3 clicks. I do it every month as my older Blue Cash card gives us 5% on all groceries/gas/drugstore purchases after we hit the yearly initial spend (usually happens in the first quarter of the year - means we get 9-10 months of 5% back).
The other problem with the AMEX card rewards is you can only cash in by $25 increments. Discover and Cap One you just cash in whatever is in rewards, even a dollar or two. Maybe I'm just grumpy this morning . . . let me finish my tea :)
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Re: Best credit card for cash back

Post by flamesabers » Tue Jun 06, 2017 9:04 am

I'm also a happy owner of the USAA 2.5% cashback card. It does have some requirements: military affiliation, checking account with USAA and a monthly $1k deposit, but I think it's definitely worth it.

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Re: Best credit card for cash back

Post by SimonJester » Tue Jun 06, 2017 9:22 am

Amazon Prime Visa, No FTF, 5% on all amazon purchases, 2% on gas, restaurants and drug stores, then 1% on all others.
An Amazon prime membership is required but if you already have the membership this is a good card...
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Re: Best credit card for cash back

Post by abner kravitz » Tue Jun 06, 2017 9:49 am

I use the Fidelity 2% for everything except Amazon purchases, where Prime customers get 5% back with the Chase Amazon card. The Fidelity rewards get swept into my brokerage account monthly, and I use the Amazon points as discounts on the stuff I get there.

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Re: Best credit card for cash back

Post by FinanceMD » Tue Jun 06, 2017 10:08 am

Go to nerdwallet.com and put in your monthly expenditures in different reward categories. It'll rank the best credit cards based on your spending.

For us, it is:
Amex blue cash preferred - 6% back groceries
Costco Citi card - 4% all gas stations including Costco, 3% restaurants and travel, 2% back on all Costco and Costco.com purchases (plus an extra 2% from the executive membership)
BOA rewards platinum plus card - 1.25% on anything that doesn't fall into the above categories, which really isn't much.

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dollar_elbow
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Re: Best credit card for cash back

Post by dollar_elbow » Tue Jun 06, 2017 10:29 am

Capital One has just launched a "Premier Dining Rewards" card offering unlimited 3% cash back at restaurants and 2% on groceries, which might be of benefit to some people:

https://www.capitalone.com/credit-cards ... g-rewards/

I got one since I reasoned I may as well get a 3% discount when I eat out rather than 2%.

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Re: Best credit card for cash back

Post by normaldude » Tue Jun 06, 2017 10:39 am

Fatwallet.com maintains a massive ongoing list of cash back credit cards. Scroll down to the 2nd post:

https://www.fatwallet.com/forums/finance/711457

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Earl Lemongrab
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Re: Best credit card for cash back

Post by Earl Lemongrab » Tue Jun 06, 2017 11:17 am

Any good sign-on bonuses with moderate initial spend? I have my insurance due in the next couple weeks and that's a good time for a new card to meet the requirements. I don't travel, so travel rewards aren't good unless they can be converted to cash. I currently have BOA Cashback, Amex Everyday Blue, Discover, and Chase Freedom.
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Re: Best credit card for cash back

Post by SVT » Tue Jun 06, 2017 11:30 am

Earl Lemongrab wrote:Any good sign-on bonuses with moderate initial spend? I have my insurance due in the next couple weeks and that's a good time for a new card to meet the requirements. I don't travel, so travel rewards aren't good unless they can be converted to cash. I currently have BOA Cashback, Amex Everyday Blue, Discover, and Chase Freedom.
What's moderate? And what's a good sign-on bonus? lol

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Re: Best credit card for cash back

Post by SrGrumpy » Tue Jun 06, 2017 11:33 am

Earl Lemongrab wrote:Any good sign-on bonuses with moderate initial spend? I have my insurance due in the next couple weeks and that's a good time for a new card to meet the requirements. I don't travel, so travel rewards aren't good unless they can be converted to cash. I currently have BOA Cashback, Amex Everyday Blue, Discover, and Chase Freedom.
Wells Fargo is eager to please right now. They have a few cards where you spend $1,000, get $200 back. I thought they had a $500/$100 one, but that seems to have gone. BofA has a AAA card with $500/$100 (it's marketed as travel, but you don't need to travel).

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Re: Best credit card for cash back

Post by flamesabers » Tue Jun 06, 2017 11:50 am

Earl Lemongrab wrote:Any good sign-on bonuses with moderate initial spend? I have my insurance due in the next couple weeks and that's a good time for a new card to meet the requirements. I don't travel, so travel rewards aren't good unless they can be converted to cash. I currently have BOA Cashback, Amex Everyday Blue, Discover, and Chase Freedom.
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Re: Best credit card for cash back

Post by patient_investor » Tue Jun 06, 2017 11:54 am

There are possibly better "rewards" options out there if you're willing to spend your time to game redemptions, but, from what I could find, the simplest no fee / high return straight cashback 2-card only setup is the following:

Bank of America Travel Rewards - 2.625% flat cash back / no fee.
Bank of America Cash Rewards - 5.25% cash back on gas / 3.5% cashback on groceries & wholesale / no fee.

In order to get that, you need to put $100K+ balance on Merrill Edge (could be anything, including low-cost ETFs and mutual funds) to get their Platinum preferred status. The status is very helpful in many ways, for example, giving you 100 free trades a month.
Last edited by patient_investor on Tue Jun 06, 2017 12:08 pm, edited 2 times in total.

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Re: Best credit card for cash back

Post by triceratop » Tue Jun 06, 2017 11:56 am

Earl Lemongrab wrote:Any good sign-on bonuses with moderate initial spend? I have my insurance due in the next couple weeks and that's a good time for a new card to meet the requirements. I don't travel, so travel rewards aren't good unless they can be converted to cash. I currently have BOA Cashback, Amex Everyday Blue, Discover, and Chase Freedom.
BOA Travel Rewards has a $200 travel rewards package right now, I believe it is $1k spend in first 90 days. Of course if you really know you're not going to spend that much on travel in the foreseeable future (points do not expire), the cashback ratio is 0.6, so it's a $120 offer.
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Earl Lemongrab
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Re: Best credit card for cash back

Post by Earl Lemongrab » Tue Jun 06, 2017 12:06 pm

Sounds like some decent options there. The insurance bill (home+auto+umbrella) will likely be in the $1000 range. I haven't opened it yet. I can of course put some regular card stuff on as needed, but I prefer to use my BOA card Chase (5% grocery/drug this quarter) unless the new card has extra cashback rate as well.
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Re: Best credit card for cash back

Post by Pobre » Tue Jun 06, 2017 12:41 pm

If you want to keep it simple:

Citibank Double Cash MasterCard: 2% cashback on everything anytime. No annual fee, no special requirements, but has foreign fees.

CapitalOne Quick Silver MasterCard: 1.5% cashback on everything anytime. No annual fee, no special requirements, no foreign fees.

Other good ones, but with special requirements:

Amazon Prime Rewards Visa: 5% cashback on all Amazon.com purchases. No annual fee, but must be an Amazon Prime member ($100 annual)

Sam's Club Rewards MasterCard: 5% cashback on gas, 3% on travel and dining anytime. No annual fee, but must be a Sam's club member($45 annual). Cash rewards can be redeemed only once per year and only at Sam's club.

Ally CashBack Visa: 2% cashback on groceries and gas, 10% Ally deposit bonus when you deposit your cash rewards into an eligible Ally Bank account. No annual fee, but must have an Ally Bank account to get the 10% deposit bonus.

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Re: Best credit card for cash back

Post by FedGuy » Tue Jun 06, 2017 6:33 pm

Pobre wrote:Citibank Double Cash MasterCard: 2% cashback on everything anytime. No annual fee, no special requirements, but has foreign fees.
Well, there's one minor special requirement: if you redeem the cash back as a statement credit, you end up getting "only" 1.99% cash back. This is because of the silly way the card is structured, in which you get 1% cash back when you make the initial purchase and 1% cash back when you pay your credit card bill. If you take a statement credit, you reduce the amount you owe the credit card company and therefore the amount you pay, thereby reducing your cash back. I go through the minor additional hassle of taking my cash back as a physical check to avoid that admittedly minor loss.

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Re: Best credit card for cash back

Post by Jags4186 » Tue Jun 06, 2017 7:23 pm

dollar_elbow wrote:Capital One has just launched a "Premier Dining Rewards" card offering unlimited 3% cash back at restaurants and 2% on groceries, which might be of benefit to some people:

https://www.capitalone.com/credit-cards ... g-rewards/

I got one since I reasoned I may as well get a 3% discount when I eat out rather than 2%.
Eh if you want extra "cash back" at restaurants just tip 1% less.

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Re: Best credit card for cash back

Post by ImmigrantSaver » Tue Jun 06, 2017 7:50 pm

FedGuy wrote:
Pobre wrote:Citibank Double Cash MasterCard: 2% cashback on everything anytime. No annual fee, no special requirements, but has foreign fees.
Well, there's one minor special requirement: if you redeem the cash back as a statement credit, you end up getting "only" 1.99% cash back. This is because of the silly way the card is structured, in which you get 1% cash back when you make the initial purchase and 1% cash back when you pay your credit card bill. If you take a statement credit, you reduce the amount you owe the credit card company and therefore the amount you pay, thereby reducing your cash back. I go through the minor additional hassle of taking my cash back as a physical check to avoid that admittedly minor loss.
There is a direct deposit option :)

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Re: Best credit card for cash back

Post by Pobre » Wed Jun 07, 2017 6:18 am

FedGuy wrote:
Pobre wrote:Citibank Double Cash MasterCard: 2% cashback on everything anytime. No annual fee, no special requirements, but has foreign fees.
Well, there's one minor special requirement: if you redeem the cash back as a statement credit, you end up getting "only" 1.99% cash back. This is because of the silly way the card is structured, in which you get 1% cash back when you make the initial purchase and 1% cash back when you pay your credit card bill. If you take a statement credit, you reduce the amount you owe the credit card company and therefore the amount you pay, thereby reducing your cash back. I go through the minor additional hassle of taking my cash back as a physical check to avoid that admittedly minor loss.
Hi FedGuy! I didn't know about that, since I never redeem the cash back as a statement credit with this card. As ImmigrantSaver said, Citibank offers a direct deposit option. It's very quick and simple, and it's what I've always done. If you want the full 2% cashback with this card, then you want to go with the direct deposit always. Thanks, ImmigrantSaver!

This is similar, but the opposite, with the Amazon Prime rewards card. Rewards are redeemable only at Amazon. You can either use your cashback rewards points toward an Amazon.com purchase, or you can redeem your cashback rewards points as a statement credit. So to get the full 5% cashback, you want to always redeem as a statement credit with this card.

Otherwise, for example, you have enough points to buy a smartphone at Amazon.com for "free", you would get 0% cash back from that purchase. Better to pay full price for the smartphone, get the full 5% on this purchase, and then redeem those points as a statement credit.

It seems Citibank would want all their customers to redeem rewards as statement credit, and Amazon would want all their customers to redeem rewards by applying them toward purchases. You want to do the opposite of what they want you to do.

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Re: Best credit card for cash back

Post by flamesabers » Wed Jun 07, 2017 8:49 am

Pobre wrote:This is similar, but the opposite, with the Amazon Prime rewards card. Rewards are redeemable only at Amazon. You can either use your cashback rewards points toward an Amazon.com purchase, or you can redeem your cashback rewards points as a statement credit. So to get the full 5% cashback, you want to always redeem as a statement credit with this card.

Otherwise, for example, you have enough points to buy a smartphone at Amazon.com for "free", you would get 0% cash back from that purchase. Better to pay full price for the smartphone, get the full 5% on this purchase, and then redeem those points as a statement credit.

It seems Citibank would want all their customers to redeem rewards as statement credit, and Amazon would want all their customers to redeem rewards by applying them toward purchases. You want to do the opposite of what they want you to do.
With the Amazon Prime store card, the 5% statement credit is automatically applied to your balance at the end of the month. Since I have my USAA 2.5% cashback card, I have no need to get the Amazon Prime Visa card.

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Re: Best credit card for cash back

Post by wfrobinette » Thu Jun 08, 2017 10:31 am

Alto Astral wrote:Amex Blue - Cashback
Amex Blue Preferred ($95 annual) - 6% on groceries, 3% on gas. I routinely get over $500 back on this one.
any of the 2% cash back for others.
Amazon store card or chase - 5% statement credit or 5% cash back on Amazon purchases.

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Earl Lemongrab
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Re: Best credit card for cash back

Post by Earl Lemongrab » Thu Jun 08, 2017 10:49 am

Pobre wrote:This is similar, but the opposite, with the Amazon Prime rewards card. Rewards are redeemable only at Amazon. You can either use your cashback rewards points toward an Amazon.com purchase, or you can redeem your cashback rewards points as a statement credit. So to get the full 5% cashback, you want to always redeem as a statement credit with this card.
I have the Chase Amazon card, 3% back from Amazon purchases, because I'm not a Prime member. I don't buy that much from Amazon, so my point total is pretty low. I always redeem the points at purchase because this card requires 2000 points for a statement credit.
This week's fortune cookie: "Your financial life will be secure and beneficial." So I got that going for me, which is nice.

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Re: Best credit card for cash back

Post by 9liner » Thu Jun 08, 2017 11:00 am

+1 for USAA Limitless Cashback MasterCard. 2.5% on any and all purchases. No need to worry about revolving categories. Redemption of accumulated cashback is an easy click of a button.

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Re: Best credit card for cash back

Post by guitarguy » Thu Jun 08, 2017 11:11 am

Rob5TCP wrote:I use the Capital One Venture for almost all my purchases. It's 2% (my software purchases for clients is large) for all purchases.
It does have an annual fee, but that cuts my 2% down to about 1.8%. It's worth the .2% not to have anything to do with Citibank.
That's funny...I'd "pay" the extra fee not to have to deal with Capital One.

We do travel cards, and I'm planning on getting this Venture for the bonus maybe next year because we're going to stay somewhere that I can't on UR points...but I would never keep it and pay the fee for flat 2% rewards. On top of that you're limited to redeeming for travel whereas the Double Cash can redeem anytime. To me, a waste to have the Venture (and similarly, the Barclaycard Arrival+) after collecting the bonuses.

Out of curiosity, what's your beef with Citi? I've never had a problem with them (only have the Double Cash card...don't use it often...but have never had a single issue.)

Pobre
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Re: Best credit card for cash back

Post by Pobre » Thu Jun 08, 2017 12:16 pm

flamesabers wrote:
Pobre wrote:This is similar, but the opposite, with the Amazon Prime rewards card. Rewards are redeemable only at Amazon. You can either use your cashback rewards points toward an Amazon.com purchase, or you can redeem your cashback rewards points as a statement credit. So to get the full 5% cashback, you want to always redeem as a statement credit with this card.

Otherwise, for example, you have enough points to buy a smartphone at Amazon.com for "free", you would get 0% cash back from that purchase. Better to pay full price for the smartphone, get the full 5% on this purchase, and then redeem those points as a statement credit.

It seems Citibank would want all their customers to redeem rewards as statement credit, and Amazon would want all their customers to redeem rewards by applying them toward purchases. You want to do the opposite of what they want you to do.
With the Amazon Prime store card, the 5% statement credit is automatically applied to your balance at the end of the month. Since I have my USAA 2.5% cashback card, I have no need to get the Amazon Prime Visa card.
Really? I didn't know that. I guess I never waited long enough for the automatic statement credit. There is also a minimum of 2,000 cash back rewards points for a statement credit. I also just noticed that I can now do a direct deposit to redeem cash rewards.

For someone who already pays for the Amazon Prime membership, wouldn't the Amazon Prime rewards cards be better than the USAA card? 5% is better than 2.5%. Is there another reason why the USAA card would be better in this case?

DSInvestor
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Re: Best credit card for cash back

Post by DSInvestor » Thu Jun 08, 2017 12:24 pm

I have Citi DoubleCash. No annual fee, 2% cash back, but has 3% foreign transaction fee. One feature I like about this card is the CITI Price Rewind service where you'd register your purchase of an item (upload a receipt, date, store and amount), then the service looks for lower prices for 60 days from purchase date. If lower price is found, you will get the price difference back. I got $90 back on a $370 satellite communicator that went on sale a week after I bought it. I get about $500 back a year from the price rewind service.

For foreign spending, I use Capital One Quicksilver. No annual fee, 1.5% cash back, no foreign transaction fee. Exchange rate is very good and seems to be the rate shown at exchange rate sites. Really easy to redeem cash rewards.
Wiki

Pobre
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Re: Best credit card for cash back

Post by Pobre » Thu Jun 08, 2017 12:29 pm

9liner wrote:+1 for USAA Limitless Cashback MasterCard. 2.5% on any and all purchases. No need to worry about revolving categories. Redemption of accumulated cashback is an easy click of a button.
I looked into this card, but I don't like that a USAA bank account with a monthly $1,000 direct deposit is required to earn 2.5% cashback.

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Re: Best credit card for cash back

Post by _robert » Thu Jun 08, 2017 12:39 pm

Check out Alliant, they have a 3% cash back card (for the first year, 2.5% after... $65 fee waived the first year)

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Re: Best credit card for cash back

Post by flamesabers » Thu Jun 08, 2017 2:22 pm

Pobre wrote:Really? I didn't know that. I guess I never waited long enough for the automatic statement credit. There is also a minimum of 2,000 cash back rewards points for a statement credit. I also just noticed that I can now do a direct deposit to redeem cash rewards.
I use the store card, not the Visa one.
Pobre wrote:For someone who already pays for the Amazon Prime membership, wouldn't the Amazon Prime rewards cards be better than the USAA card? 5% is better than 2.5%. Is there another reason why the USAA card would be better in this case?
Unfortunately, both Amazon cards (Visa and store) only gives you 5% credit when you buy stuff from Amazon. The USAA 2.5% card is applicable for every store that accepts a Visa card.
Pobre wrote:
9liner wrote:+1 for USAA Limitless Cashback MasterCard. 2.5% on any and all purchases. No need to worry about revolving categories. Redemption of accumulated cashback is an easy click of a button.
I looked into this card, but I don't like that a USAA bank account with a monthly $1,000 direct deposit is required to earn 2.5% cashback.
I've been doing an ACH of $1k every month from my Vanguard MM account to meet this requirement. Maybe it's because I already get my insurance and other credit cards through USAA, but I don't find it to be an unreasonable requirement. It's quite rare I think to find a credit card that offers unlimited 2.5% cashback rewards without an annual fee or having a large investment balance with the bank.
_robert wrote:Check out Alliant, they have a 3% cash back card (for the first year, 2.5% after... $65 fee waived the first year)
While a 3% cashback card sounds nice, the $65 annual fee after the first year is disappointing. After the first year and when the 2.5% rate kicks in, the annual fee will eat up the cashback rewards for the first $2.6k that you spend.

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