Best cash-back credit card right now?

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TheBogleWay
Posts: 143
Joined: Mon Dec 05, 2016 9:04 pm

Best cash-back credit card right now?

Post by TheBogleWay » Sun May 06, 2018 2:38 am

I don't really want to travel anymore than I currently do, so I don't want airline points. I believe that mostly just leaves me with cash-back credit cards as a second best option right?

So, for cash-back cards, and a person who has an annual CC spending of about $15,000, what gets you the most cash back?


Currently I have an Amex that has a $75 annual fee, but in return I get:

6% Cash Back at U.S. supermarkets up to $6,000 per year in purchases (then 1%);
3% Cash Back at U.S. gas stations;
3% Cash Back at select U.S. department stores; and
1% Cash Back on other purchases.

I also get pretty damn good customer service with Amex and purchase protection, if I'm unhappy I can just call them and they'll refund it which is a nice feature to have.


Any improving this?

student
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Joined: Fri Apr 03, 2015 6:58 am

Re: Best cash-back credit card right now?

Post by student » Sun May 06, 2018 5:33 am

I would get the citi double cash or the fidelity visa for 2% cash back and use it when your AMEX only gives 1%.

Freefun
Posts: 272
Joined: Sun Jan 14, 2018 3:55 pm

Re: Best cash-back credit card right now?

Post by Freefun » Sun May 06, 2018 6:03 am

TheBogleWay wrote:
Sun May 06, 2018 2:38 am
I don't really want to travel anymore than I currently do, so I don't want airline points. I believe that mostly just leaves me with cash-back credit cards as a second best option right?

So, for cash-back cards, and a person who has an annual CC spending of about $15,000, what gets you the most cash back?


Currently I have an Amex that has a $75 annual fee, but in return I get:

6% Cash Back at U.S. supermarkets up to $6,000 per year in purchases (then 1%);
3% Cash Back at U.S. gas stations;
3% Cash Back at select U.S. department stores; and
1% Cash Back on other purchases.

I also get pretty damn good customer service with Amex and purchase protection, if I'm unhappy I can just call them and they'll refund it which is a nice feature to have.


Any improving this?
Other info here (in addition to other posts on this forum)

viewtopic.php?t=203543
Remember when you wanted what you currently have?

ShadowRegent
Posts: 44
Joined: Sun Jan 04, 2015 12:52 pm

Re: Best cash-back credit card right now?

Post by ShadowRegent » Sun May 06, 2018 6:13 am

TheBogleWay wrote:
Sun May 06, 2018 2:38 am
I don't really want to travel anymore than I currently do, so I don't want airline points. I believe that mostly just leaves me with cash-back credit cards as a second best option right?

So, for cash-back cards, and a person who has an annual CC spending of about $15,000, what gets you the most cash back?


Currently I have an Amex that has a $75 annual fee, but in return I get:

6% Cash Back at U.S. supermarkets up to $6,000 per year in purchases (then 1%);
3% Cash Back at U.S. gas stations;
3% Cash Back at select U.S. department stores; and
1% Cash Back on other purchases.

I also get pretty damn good customer service with Amex and purchase protection, if I'm unhappy I can just call them and they'll refund it which is a nice feature to have.


Any improving this?
Bad news on that card (assuming it's the Blue Cash Preferred card)-- the annual fee at renewal is now $95. Here are a few thoughts:
  • Citi Double Cash-- 2% on everything (well, 1% at spending and 1% when you pay). Simple and straightforward everyday card.
  • American Express Blue Cash Everyday-- only gets 3% on groceries, but you can save the $95 annual fee if it's no longer worth it for you to get the extra 3%.
  • Bank of America Premium Rewards-- 2.625% on everything, 3.5% on restaurants and travel with a big catch-- you need $100k at Bank of America/Merrill Edge to get that rate. You do also get 100 free trades per month at Merrill, so if you have ETFs it's a potential option. Also a $95 annual fee, but also a $100 airline incidental fee credit that might more than cover your fee if used. Best overall earning rate I've seen.
  • Bank of America Cash Rewards-- 5.25% on gas, 3.5% on groceries/wholesale clubs. 1.75% on everything else. No annual fee, best everyday gas/grocery rates I've seen without fees. Same caveat as above (need $100k combined BofA/Merrill assets), though.
  • Discover It card-- The rotating 5% categories are nice. Downside is that you're remembering what categories are 5% each quarter.
All of the above are cash or statement credit redemptions, so no travel points just straight cashback.

BeneIRA
Posts: 452
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Re: Best cash-back credit card right now?

Post by BeneIRA » Sun May 06, 2018 7:27 am

TheBogleWay wrote:
Sun May 06, 2018 2:38 am
I don't really want to travel anymore than I currently do, so I don't want airline points. I believe that mostly just leaves me with cash-back credit cards as a second best option right?

So, for cash-back cards, and a person who has an annual CC spending of about $15,000, what gets you the most cash back?


Currently I have an Amex that has a $75 annual fee, but in return I get:

6% Cash Back at U.S. supermarkets up to $6,000 per year in purchases (then 1%);
3% Cash Back at U.S. gas stations;
3% Cash Back at select U.S. department stores; and
1% Cash Back on other purchases.

I also get pretty damn good customer service with Amex and purchase protection, if I'm unhappy I can just call them and they'll refund it which is a nice feature to have.


Any improving this?
That is a $95 annual fee for your next renewal. Grandfathering on the Blue Cash Preferred ended this year. The Double Cash makes the most sense as a secondary card. Use the search feature and you'll find quite a few threads on this.

Jack FFR1846
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Re: Best cash-back credit card right now?

Post by Jack FFR1846 » Sun May 06, 2018 7:52 am

If you don't want to play games, just use Citi doublecash.

If you play games for fun and profit.....first, don't use an Amex anything for manufactured spending as they'll shut you down immediately.

Citi Double cash is a good background card.
HSPC card for the first 6 months is better, if you can find the offer. $100 bonus, 2% on everything, another 10% of your bonus paid at the end of the year. But at 6 months, retire the card.
Chase Freedom for the rotating category. This quarter is grocery stores 5% up to $1500 spending. I use this as one of my manufactured spending cards to buy gift cards to earn gas points.
Discover: Same as Freedom. They even seem to follow Chase with the category, so your quarterly bonus spending jumps to $3k total.
Uber Visa: I use this for the 4% at restaurants. I know it has other bonus categories but I don't really pay attention to them.

I'd put honorable mention to Fidelity Visa. You have to redeem to a Fidelity account in order to retain the 2%, otherwise, it drops to 1%. I fund a 529 with the rewards earned.

I have almost all of the "no annual fee" cards mentioned in prior posts. The BoA ones might be replacement if you already have money with the Evil Empire. I suppose gaming Merrill Edge for a bonus coming in can qualify this as a good deal. I don't trust BoA as far as I could throw them and would expect new, surprise fees and charges at any point.
Bogle: Smart Beta is stupid

rgs92
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Re: Best cash-back credit card right now?

Post by rgs92 » Sun May 06, 2018 8:02 am

I think Fidelity also has a 2%-rebate-on-everything card. For some reason, my Fidelity cards pay just 1.5%, but I'm told that I could get them swapped for the 2% one if I get motivated to do so.
(I also use the Citi 2% card.)

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jharkin
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Re: Best cash-back credit card right now?

Post by jharkin » Sun May 06, 2018 8:08 am

I do the same as other here.

Amex Blue preferred - for groceries and gasoline.
Amazon 5% VISA - for amazon.com and Whole foods
I have a Discover IT and sometimes remember to check the 5% categories. :oops:
Citi double cash for everything else. I even pay utilities and insurance with it. :moneybag

radiowave
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Re: Best cash-back credit card right now?

Post by radiowave » Sun May 06, 2018 8:13 am

One excellent feature of the BoA rewards card (and legacy cards) is the ability to generate a randomized one time (or limited monthly payment) CC number for online use. This decreases the chance of getting scammed/hacked and having to deal with shutting down the card and getting a new one and dealing with the fraud.
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sfchris
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Re: Best cash-back credit card right now?

Post by sfchris » Sun May 06, 2018 8:23 am


afan
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Re: Best cash-back credit card right now?

Post by afan » Sun May 06, 2018 8:25 am

If you have the patience to keep track of rotating categories, then own several cards that give higher cash back for certain purchases at certain times. Using this you can do better than 2% for many of your transactions.

Or just do Fidelity or citi for their 2% on everything.

For Fidelity, as noted, you have to get the specific Signature Visa card that has 2% cash back and points never expire. There are other cards with the same name but less favorable terms.
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midareff
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Re: Best cash-back credit card right now?

Post by midareff » Sun May 06, 2018 8:39 am

Jack FFR1846 wrote:
Sun May 06, 2018 7:52 am
If you don't want to play games, just use Citi doublecash.

If you play games for fun and profit.....first, don't use an Amex anything for manufactured spending as they'll shut you down immediately.


Uber Visa: I use this for the 4% at restaurants. I know it has other bonus categories but I don't really pay attention to them. Add 3% for air and hotels and if you $5K in a year they will pick up a $50 subscription to something like Sirius.

I'd put honorable mention to Fidelity Visa. You have to redeem to a Fidelity account in order to retain the 2%, otherwise, it drops to 1%. I fund a 529 with the rewards earned. Mine goes to a Fidelity cash account which I transfer back to my bank. Car dealer let me put $32.5K on it LOL

Add the PenFed 5% gas card I have (I understand it is no longer issued) to the Fidelity 2% and AMEX 6% and that's about as good as it gets. Not going to park $100K at BofA since I am very happy with Ally. Also have the AA, United and Delta cards but we are traveling lots these years (go-go retired) and it's worth it for free checked and priority boarding, not to mention the free flights for the sign up bonus.

I have almost all of the "no annual fee" cards mentioned in prior posts. The BoA ones might be replacement if you already have money with the Evil Empire. I suppose gaming Merrill Edge for a bonus coming in can qualify this as a good deal. I don't trust BoA as far as I could throw them and would expect new, surprise fees and charges at any point.

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dwickenh
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Re: Best cash-back credit card right now?

Post by dwickenh » Sun May 06, 2018 8:41 am

Paypal Mastercard from Syncrony with 2% back on everything and no annual fees.
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adman_c
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Re: Best cash-back credit card right now?

Post by adman_c » Sun May 06, 2018 8:50 am

midareff wrote:
Sun May 06, 2018 8:39 am
Jack FFR1846 wrote:
Sun May 06, 2018 7:52 am
If you don't want to play games, just use Citi doublecash.

If you play games for fun and profit.....first, don't use an Amex anything for manufactured spending as they'll shut you down immediately.


Uber Visa: I use this for the 4% at restaurants. I know it has other bonus categories but I don't really pay attention to them. Add 3% for air and hotels and if you $5K in a year they will pick up a $50 subscription to something like Sirius.

I'd put honorable mention to Fidelity Visa. You have to redeem to a Fidelity account in order to retain the 2%, otherwise, it drops to 1%. I fund a 529 with the rewards earned. Mine goes to a Fidelity cash account which I transfer back to my bank. Car dealer let me put $32.5K on it LOL

Add the PenFed 5% gas card I have (I understand it is no longer issued) to the Fidelity 2% and AMEX 6% and that's about as good as it gets. Not going to park $100K at BofA since I am very happy with Ally. Also have the AA, United and Delta cards but we are traveling lots these years (go-go retired) and it's worth it for free checked and priority boarding, not to mention the free flights for the sign up bonus.

I have almost all of the "no annual fee" cards mentioned in prior posts. The BoA ones might be replacement if you already have money with the Evil Empire. I suppose gaming Merrill Edge for a bonus coming in can qualify this as a good deal. I don't trust BoA as far as I could throw them and would expect new, surprise fees and charges at any point.
Everyone is of course entitled to their own opinion, and everyone has their own experiences, but I have had good experiences with Bank of America and nothing but terrible experiences with Citibank. If you have enough money in an IRA or taxable account to park $100,000 at Merrill edge, it's hard to do any better (2.625%) than the Bank of America premium rewards card for a regular spending cash rewards card.

coachd50
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Re: Best cash-back credit card right now?

Post by coachd50 » Sun May 06, 2018 8:58 am

Right Now Wells Fargo is offering a Visa Signature Card with a $200 bonus for spending $1000 in the first 3 months after you open an account, and 1.5% on all purchases after that. Anyone know of any loopholes or catches with this deal?

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midareff
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Re: Best cash-back credit card right now?

Post by midareff » Sun May 06, 2018 9:05 am

adman_c wrote:
Sun May 06, 2018 8:50 am
midareff wrote:
Sun May 06, 2018 8:39 am
Jack FFR1846 wrote:
Sun May 06, 2018 7:52 am
If you don't want to play games, just use Citi doublecash.

If you play games for fun and profit.....first, don't use an Amex anything for manufactured spending as they'll shut you down immediately.


Uber Visa: I use this for the 4% at restaurants. I know it has other bonus categories but I don't really pay attention to them. Add 3% for air and hotels and if you $5K in a year they will pick up a $50 subscription to something like Sirius.

I'd put honorable mention to Fidelity Visa. You have to redeem to a Fidelity account in order to retain the 2%, otherwise, it drops to 1%. I fund a 529 with the rewards earned. Mine goes to a Fidelity cash account which I transfer back to my bank. Car dealer let me put $32.5K on it LOL



Add the PenFed 5% gas card I have (I understand it is no longer issued) to the Fidelity 2% and AMEX 6% and that's about as good as it gets. Not going to park $100K at BofA since I am very happy with Ally. Also have the AA, United and Delta cards but we are traveling lots these years (go-go retired) and it's worth it for free checked and priority boarding, not to mention the free flights for the sign up bonus.

I have almost all of the "no annual fee" cards mentioned in prior posts. The BoA ones might be replacement if you already have money with the Evil Empire. I suppose gaming Merrill Edge for a bonus coming in can qualify this as a good deal. I don't trust BoA as far as I could throw them and would expect new, surprise fees and charges at any point.
Everyone is of course entitled to their own opinion, and everyone has their own experiences, but I have had good experiences with Bank of America and nothing but terrible experiences with Citibank. If you have enough money in an IRA or taxable account to park $100,000 at Merrill edge, it's hard to do any better (2.625%) than the Bank of America premium rewards card for a regular spending cash rewards card.
I'm sure you are right. ... at least for you. For me, I'm very comfortable with my IRA and taxable @ VG and my Roth at FIDO. When I take restaurants, travel and gas ... and any leftover Discover 5% categories out of the equation, since they all pay back more than 2.625%, the leftovers aren't enough to for me to move an account for. If I was already doing business with them it would be different and I would probably take advantage of that.

TravelGeek
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Re: Best cash-back credit card right now?

Post by TravelGeek » Sun May 06, 2018 9:38 am

Freefun wrote:
Sun May 06, 2018 6:03 am

Other info here (in addition to other posts on this forum)

viewtopic.php?t=203543
Naa, that thread is way too old (2016). :) I think the most recent one is from April 15, 2018:

viewtopic.php?t=247159

And look at its title: “Best cash back card right NOW.” I assume not too much has changed in the last three weeks to qualify the answers in that thread as applicable for “right now”.

Hogan773
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Re: Best cash-back credit card right now?

Post by Hogan773 » Mon May 07, 2018 10:10 am

ShadowRegent wrote:
Sun May 06, 2018 6:13 am
TheBogleWay wrote:
Sun May 06, 2018 2:38 am
I don't really want to travel anymore than I currently do, so I don't want airline points. I believe that mostly just leaves me with cash-back credit cards as a second best option right?

So, for cash-back cards, and a person who has an annual CC spending of about $15,000, what gets you the most cash back?


Currently I have an Amex that has a $75 annual fee, but in return I get:

6% Cash Back at U.S. supermarkets up to $6,000 per year in purchases (then 1%);
3% Cash Back at U.S. gas stations;
3% Cash Back at select U.S. department stores; and
1% Cash Back on other purchases.

I also get pretty damn good customer service with Amex and purchase protection, if I'm unhappy I can just call them and they'll refund it which is a nice feature to have.


Any improving this?
Bad news on that card (assuming it's the Blue Cash Preferred card)-- the annual fee at renewal is now $95. Here are a few thoughts:
  • Citi Double Cash-- 2% on everything (well, 1% at spending and 1% when you pay). Simple and straightforward everyday card.
  • American Express Blue Cash Everyday-- only gets 3% on groceries, but you can save the $95 annual fee if it's no longer worth it for you to get the extra 3%.
  • Bank of America Premium Rewards-- 2.625% on everything, 3.5% on restaurants and travel with a big catch-- you need $100k at Bank of America/Merrill Edge to get that rate. You do also get 100 free trades per month at Merrill, so if you have ETFs it's a potential option. Also a $95 annual fee, but also a $100 airline incidental fee credit that might more than cover your fee if used. Best overall earning rate I've seen.
  • Bank of America Cash Rewards-- 5.25% on gas, 3.5% on groceries/wholesale clubs. 1.75% on everything else. No annual fee, best everyday gas/grocery rates I've seen without fees. Same caveat as above (need $100k combined BofA/Merrill assets), though.
  • Discover It card-- The rotating 5% categories are nice. Downside is that you're remembering what categories are 5% each quarter.
All of the above are cash or statement credit redemptions, so no travel points just straight cashback.
On that BofA quote above are you already grossing up those numbers for the 75% bonus you get as a Platinum customer? I wasn't aware they had a no-fee cashback card that was 1.75% on everything. I thought it was 1%

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DaftInvestor
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Re: Best cash-back credit card right now?

Post by DaftInvestor » Mon May 07, 2018 10:13 am

TravelGeek wrote:
Sun May 06, 2018 9:38 am
I think the most recent one is from April 15, 2018:

viewtopic.php?t=247159

And look at its title: “Best cash back card right NOW.” I assume not too much has changed in the last three weeks to qualify the answers in that thread as applicable for “right now”.
OP: My answer (and many others) is in the thread above.

ShadowRegent
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Re: Best cash-back credit card right now?

Post by ShadowRegent » Mon May 07, 2018 6:37 pm

Hogan773 wrote:
Mon May 07, 2018 10:10 am
ShadowRegent wrote:
Sun May 06, 2018 6:13 am
TheBogleWay wrote:
Sun May 06, 2018 2:38 am
I don't really want to travel anymore than I currently do, so I don't want airline points. I believe that mostly just leaves me with cash-back credit cards as a second best option right?

So, for cash-back cards, and a person who has an annual CC spending of about $15,000, what gets you the most cash back?


Currently I have an Amex that has a $75 annual fee, but in return I get:

6% Cash Back at U.S. supermarkets up to $6,000 per year in purchases (then 1%);
3% Cash Back at U.S. gas stations;
3% Cash Back at select U.S. department stores; and
1% Cash Back on other purchases.

I also get pretty damn good customer service with Amex and purchase protection, if I'm unhappy I can just call them and they'll refund it which is a nice feature to have.


Any improving this?
Bad news on that card (assuming it's the Blue Cash Preferred card)-- the annual fee at renewal is now $95. Here are a few thoughts:
  • Citi Double Cash-- 2% on everything (well, 1% at spending and 1% when you pay). Simple and straightforward everyday card.
  • American Express Blue Cash Everyday-- only gets 3% on groceries, but you can save the $95 annual fee if it's no longer worth it for you to get the extra 3%.
  • Bank of America Premium Rewards-- 2.625% on everything, 3.5% on restaurants and travel with a big catch-- you need $100k at Bank of America/Merrill Edge to get that rate. You do also get 100 free trades per month at Merrill, so if you have ETFs it's a potential option. Also a $95 annual fee, but also a $100 airline incidental fee credit that might more than cover your fee if used. Best overall earning rate I've seen.
  • Bank of America Cash Rewards-- 5.25% on gas, 3.5% on groceries/wholesale clubs. 1.75% on everything else. No annual fee, best everyday gas/grocery rates I've seen without fees. Same caveat as above (need $100k combined BofA/Merrill assets), though.
  • Discover It card-- The rotating 5% categories are nice. Downside is that you're remembering what categories are 5% each quarter.
All of the above are cash or statement credit redemptions, so no travel points just straight cashback.
On that BofA quote above are you already grossing up those numbers for the 75% bonus you get as a Platinum customer? I wasn't aware they had a no-fee cashback card that was 1.75% on everything. I thought it was 1%
Yes, those numbers are with the 75% for platinum honors. Without the bonus, the cards aren't terribly attractive.

scorcher31
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Re: Best cash-back credit card right now?

Post by scorcher31 » Mon May 07, 2018 8:38 pm

I use citi 2% cash back for almost everything including phone/cable bills

I use discover for 5% cash back on whatever the rotating category is

I did get a Costco card because they don't take discover or MasterCard
4% on gas, 3% on travel and resteraunts, 2% on costco items, no foreign transaction fee

I have been happy with this combo

takeshi
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Re: Best cash-back credit card right now?

Post by takeshi » Mon May 07, 2018 10:22 pm

TheBogleWay wrote:
Sun May 06, 2018 2:38 am
So, for cash-back cards, and a person who has an annual CC spending of about $15,000, what gets you the most cash back?
What are your major spend categories for this $15K? If most of it is noncategory then definitely get a 2% card.

Hogan773
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Re: Best cash-back credit card right now?

Post by Hogan773 » Tue May 08, 2018 8:44 am

ShadowRegent wrote:
Mon May 07, 2018 6:37 pm
Hogan773 wrote:
Mon May 07, 2018 10:10 am
ShadowRegent wrote:
Sun May 06, 2018 6:13 am
TheBogleWay wrote:
Sun May 06, 2018 2:38 am
I don't really want to travel anymore than I currently do, so I don't want airline points. I believe that mostly just leaves me with cash-back credit cards as a second best option right?

So, for cash-back cards, and a person who has an annual CC spending of about $15,000, what gets you the most cash back?


Currently I have an Amex that has a $75 annual fee, but in return I get:

6% Cash Back at U.S. supermarkets up to $6,000 per year in purchases (then 1%);
3% Cash Back at U.S. gas stations;
3% Cash Back at select U.S. department stores; and
1% Cash Back on other purchases.

I also get pretty damn good customer service with Amex and purchase protection, if I'm unhappy I can just call them and they'll refund it which is a nice feature to have.


Any improving this?
Bad news on that card (assuming it's the Blue Cash Preferred card)-- the annual fee at renewal is now $95. Here are a few thoughts:
  • Citi Double Cash-- 2% on everything (well, 1% at spending and 1% when you pay). Simple and straightforward everyday card.
  • American Express Blue Cash Everyday-- only gets 3% on groceries, but you can save the $95 annual fee if it's no longer worth it for you to get the extra 3%.
  • Bank of America Premium Rewards-- 2.625% on everything, 3.5% on restaurants and travel with a big catch-- you need $100k at Bank of America/Merrill Edge to get that rate. You do also get 100 free trades per month at Merrill, so if you have ETFs it's a potential option. Also a $95 annual fee, but also a $100 airline incidental fee credit that might more than cover your fee if used. Best overall earning rate I've seen.
  • Bank of America Cash Rewards-- 5.25% on gas, 3.5% on groceries/wholesale clubs. 1.75% on everything else. No annual fee, best everyday gas/grocery rates I've seen without fees. Same caveat as above (need $100k combined BofA/Merrill assets), though.
  • Discover It card-- The rotating 5% categories are nice. Downside is that you're remembering what categories are 5% each quarter.
All of the above are cash or statement credit redemptions, so no travel points just straight cashback.
On that BofA quote above are you already grossing up those numbers for the 75% bonus you get as a Platinum customer? I wasn't aware they had a no-fee cashback card that was 1.75% on everything. I thought it was 1%
Yes, those numbers are with the 75% for platinum honors. Without the bonus, the cards aren't terribly attractive.
Ok that's what I thought. That is the card I have and I like it. We also have a Costco Visa but as you say, I actually use the BofA Visa at Costco because it gives more back. The Costco Visa has better bonus for restaurants and travel so that is what I use that one for. I THINK the Costco Visa just dropped foreign trans fees too which is nice.

bgf
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Re: Best cash-back credit card right now?

Post by bgf » Tue May 08, 2018 8:59 am

ShadowRegent wrote:
Sun May 06, 2018 6:13 am
TheBogleWay wrote:
Sun May 06, 2018 2:38 am
I don't really want to travel anymore than I currently do, so I don't want airline points. I believe that mostly just leaves me with cash-back credit cards as a second best option right?

So, for cash-back cards, and a person who has an annual CC spending of about $15,000, what gets you the most cash back?


Currently I have an Amex that has a $75 annual fee, but in return I get:

6% Cash Back at U.S. supermarkets up to $6,000 per year in purchases (then 1%);
3% Cash Back at U.S. gas stations;
3% Cash Back at select U.S. department stores; and
1% Cash Back on other purchases.

I also get pretty damn good customer service with Amex and purchase protection, if I'm unhappy I can just call them and they'll refund it which is a nice feature to have.


Any improving this?
Bad news on that card (assuming it's the Blue Cash Preferred card)-- the annual fee at renewal is now $95. Here are a few thoughts:
  • Citi Double Cash-- 2% on everything (well, 1% at spending and 1% when you pay). Simple and straightforward everyday card.
  • American Express Blue Cash Everyday-- only gets 3% on groceries, but you can save the $95 annual fee if it's no longer worth it for you to get the extra 3%.
  • Bank of America Premium Rewards-- 2.625% on everything, 3.5% on restaurants and travel with a big catch-- you need $100k at Bank of America/Merrill Edge to get that rate. You do also get 100 free trades per month at Merrill, so if you have ETFs it's a potential option. Also a $95 annual fee, but also a $100 airline incidental fee credit that might more than cover your fee if used. Best overall earning rate I've seen.
  • Bank of America Cash Rewards-- 5.25% on gas, 3.5% on groceries/wholesale clubs. 1.75% on everything else. No annual fee, best everyday gas/grocery rates I've seen without fees. Same caveat as above (need $100k combined BofA/Merrill assets), though.
  • Discover It card-- The rotating 5% categories are nice. Downside is that you're remembering what categories are 5% each quarter.
All of the above are cash or statement credit redemptions, so no travel points just straight cashback.
excellent summary, thank you! people often hyperlink to threads, which is definitely helpful, but then im stuck reading through a 20+ page thread...
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bgf
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Re: Best cash-back credit card right now?

Post by bgf » Tue May 08, 2018 9:01 am

ShadowRegent wrote:
Mon May 07, 2018 6:37 pm

Yes, those numbers are with the 75% for platinum honors. Without the bonus, the cards aren't terribly attractive.
also, the 75% bonus applies to the new account bonus, e.g., $150 for spending $x in y months. i did not know this initially and was presently surprised when i cashed in my first rewards.
“TE OCCIDERE POSSUNT SED TE EDERE NON POSSUNT NEFAS EST"

solobuildingblogs
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Re: Best cash-back credit card right now?

Post by solobuildingblogs » Tue May 08, 2018 11:44 pm

Like other posters have said, if you have $100K parked in merrill edge/ B of A the premium rewards from B of A gets 2.625% back, 3.5% on restaurants.

One card that hasn't been mentioned yet is the US Bank altitude reserve. One of most underrated cards. 4.5% back on travel (even Uber works) and Apple Pay (most supermarkets, gas stations, iPhone apps, fast food, even my iPhone X at the Apple store). $400 annual fee but $325 travel credit means $75 "real" annual fee. Get the US Bank flex perks first as you need to be a US bank customer to apply. Easiest redemptions- reply to text to redeem points for travel.

The chase ink business is good for home and office internet, cell phone; even my IT company counts as 5X points which when paired with Chase sapphire preferred is equivalent of 6.25% back.

UpperNwGuy
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Re: Best cash-back credit card right now?

Post by UpperNwGuy » Wed May 09, 2018 2:15 am

Rather than seeking the “best card,” use this philosophy:
— Get a 2% across-the-board cash back card for most spending
— Get a 3% or better category card for groceries
— Get a 3% or better category card for gas
— Get a 3% or better category card for dining
— Get the card that best fits the way you travel

Gas and grocery categories are often on a single card.
Dining and travel are often on a single card.

Bud
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Re: Best cash-back credit card right now?

Post by Bud » Wed May 09, 2018 4:39 am

for cards that offer 3% on groceries for spending up to $6000 and then 1% rebates after be aware that if you spend more than $12,000 annually for groceries, a flat 2% card will provide a better rebate so some families will benefit from the flat 2% rebate of Citi MC because of that fact.

Simplicity has its advantages.

All the best...

SimonJester
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Re: Best cash-back credit card right now?

Post by SimonJester » Wed May 09, 2018 10:09 am

coachd50 wrote:
Sun May 06, 2018 8:58 am
Right Now Wells Fargo is offering a Visa Signature Card with a $200 bonus for spending $1000 in the first 3 months after you open an account, and 1.5% on all purchases after that. Anyone know of any loopholes or catches with this deal?
Only issue is that you will not receive the bonus until the statement AFTER 90 days from opening the card even if you hit the spending criteria earlier.
"They who can give up essential liberty to obtain a little temporary safety, deserve neither liberty nor safety." - Benjamin Franklin

inbox788
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Re: Best cash-back credit card right now?

Post by inbox788 » Wed May 09, 2018 11:50 am

With all the tier and category cards, there is the chance you or they miscategorize and you wind up with 1% vs 3% or more. When you buy groceries at Walmart superstores, does it count as groceries? Are bakeries, deli's and coffeeshops restaurants? Inevitably, I see 1% credit on some items with my Costco visa (doesn't itemize to the item) and I would have done better simply using a flat 2% cash back.

chazas
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Re: Best cash-back credit card right now?

Post by chazas » Wed May 09, 2018 1:02 pm

I just rejiggered my credit card portfolio due to the devaluation of the Starwood Amex card. Here's what I decided:
  • Amex Blue Cash Preferred for 6% groceries and 3% department stores, and wherever Amex only is accepted.
  • Citi Costco Visa for 4% gas, 3% restaurants and travel and 2% Costco, and wherever else Visa only is accepted. I'm converting an old unused Citi Aadvantage Mastercard to this product.
  • Citi DoubleCash for everything else at 2%. I've banked primarily at Citi for a long time and the convenience is worth something to me.
I did not want to have to coerce my spouse into rotating categories, so this seemed to be about the best I could do.

Hogan773
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Re: Best cash-back credit card right now?

Post by Hogan773 » Wed May 09, 2018 1:19 pm

chazas wrote:
Wed May 09, 2018 1:02 pm
I just rejiggered my credit card portfolio due to the devaluation of the Starwood Amex card. Here's what I decided:
  • Amex Blue Cash Preferred for 6% groceries and 3% department stores, and wherever Amex only is accepted.
  • Citi Costco Visa for 4% gas, 3% restaurants and travel and 2% Costco, and wherever else Visa only is accepted. I'm converting an old unused Citi Aadvantage Mastercard to this product.
  • Citi DoubleCash for everything else at 2%. I've banked primarily at Citi for a long time and the convenience is worth something to me.
I did not want to have to coerce my spouse into rotating categories, so this seemed to be about the best I could do.
THIS (for me)

I have trouble enough with two Visa cards having her remember to use the Costco for restaurants and travel, and the BofA for everything else

We still have Discover but honestly never use it. Too much brain damage trying to remember that this quarter we can get 5% at Home Depot, or was that last quarter and this quarter is 5% at Movie Theatres.....etc.......

I did get an awesome scam benefit from Discover Price Protection on a Black Friday TV at Best Buy, so will likely keep the card around just for that and also in case they have some special offers and I remember to take advantage of them

Jack FFR1846
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Re: Best cash-back credit card right now?

Post by Jack FFR1846 » Wed May 09, 2018 1:35 pm

I get that some people don't keep track of rotating categories easily. I tend to take the "category of the quarter" and tape a small strip of paper on the card. So this quarter, both freedom and Discover say "grocery" on them. My wife appreciates this a lot. I do manufacture spend so keeping tabs on the amounts is my job. Both Discover and Freedom have hit the $1500 limit for grocery stores this quarter, so they're sock drawer'd.

The only travel I do is for work, using the mandatory company card (otherwise I don't get re-embersed) so travel rewards for me are useless.
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Alexa9
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Re: Best cash-back credit card right now?

Post by Alexa9 » Wed May 09, 2018 1:42 pm

2% back is enough for me. Love having one card for everything and not keeping track of categories that make me spend more than I normally would. I think the travel card intro bonuses are still worth it once in a while for a free flight.

N10sive
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Re: Best cash-back credit card right now?

Post by N10sive » Wed May 09, 2018 1:54 pm

The discover it card would be good for the first year. Although rotating 5% categories it matches everything you earned for the first year. I had an offer for it along with 0% interest for 18 months on all purchases.

vesalius
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Re: Best cash-back credit card right now?

Post by vesalius » Wed May 09, 2018 2:58 pm

Wanted simple, ApplePay compatible with no fees and cards that automatically deposited cash back into an account or deducted from my bill.n Less muss/less fuss
In my wallet:
USAA Limitless Cashback Rewards 2.5% on everything
PenFed Platinum Cash Rewards Visa 5% on gas/diesel

Kept in the drawer or online for specific purchases
PenFed Premium Travel Rewards American Express - 5x points on Airfare
Amazon Rewards Visa - 5% cash-back for Prime members
Citi Double Cash Mastercard 2% on everything - use for large purchases when I think I can take advantage of their great price match feature. Bought a TV online with a very reputable site and then price matched against a much lower price advertised online to get an additional $500 back on the purchase. took only 2 weeks to get the money credited to my account.

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sunny_socal
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Re: Best cash-back credit card right now?

Post by sunny_socal » Wed May 09, 2018 3:21 pm

I use:
[1] Costco/Citi Visa card for gas (4%) and restaurants (3%)
[2] Alliant Visa for everything else (3% first year, 2.5% thereafter)

ZinCO
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Re: Best cash-back credit card right now?

Post by ZinCO » Wed May 09, 2018 3:39 pm

Hogan773 wrote:
Wed May 09, 2018 1:19 pm

I did get an awesome scam benefit from Discover Price Protection on a Black Friday TV at Best Buy, so will likely keep the card around just for that and also in case they have some special offers and I remember to take advantage of them
Note that Discover dropped their Price Protection as of February 28 due to people scamming benefiting from the program.

Hogan773
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Re: Best cash-back credit card right now?

Post by Hogan773 » Wed May 09, 2018 3:46 pm

ZinCO wrote:
Wed May 09, 2018 3:39 pm
Hogan773 wrote:
Wed May 09, 2018 1:19 pm

I did get an awesome scam benefit from Discover Price Protection on a Black Friday TV at Best Buy, so will likely keep the card around just for that and also in case they have some special offers and I remember to take advantage of them
Note that Discover dropped their Price Protection as of February 28 due to people scamming benefiting from the program.
You sure?

Their website still shows it plain as day

https://www.discover.com/credit-cards/r ... ion-refund

I recall they may have changed some benefits but I believe they retained the price protection

ZinCO
Posts: 57
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Re: Best cash-back credit card right now?

Post by ZinCO » Wed May 09, 2018 4:24 pm

Hogan773 wrote:
Wed May 09, 2018 3:46 pm
ZinCO wrote:
Wed May 09, 2018 3:39 pm
Hogan773 wrote:
Wed May 09, 2018 1:19 pm

I did get an awesome scam benefit from Discover Price Protection on a Black Friday TV at Best Buy, so will likely keep the card around just for that and also in case they have some special offers and I remember to take advantage of them
Note that Discover dropped their Price Protection as of February 28 due to people scamming benefiting from the program.
You sure?

Their website still shows it plain as day

https://www.discover.com/credit-cards/r ... ion-refund

I recall they may have changed some benefits but I believe they retained the price protection
You are correct. I was thinking it was their action that spurred Chase to change their Price Protection program, but looks like Discover left it alone. They did however nuke the following on that date:

Extended Product Warranty
Return Guarantee
Purchase Protection
Auto Rental Insurance
Flight Accident Insurance

Leesbro63
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Re: Best cash-back credit card right now?

Post by Leesbro63 » Thu May 10, 2018 4:01 pm

If you buy a lot of gas, the no-fee Sam's Club Mastercard gives 5% back on all gas, all the time, at any gas station. Plus 3% back on T&E...so I use that card for gas and restaurants/hotels. Citi's no-fee card for 2% back on everything else. And one final card, the Chase Sapphire Preferred, at $95/year, that I only use when renting cars for the primary coverage. I just consider the $95 annual fee my fee for rental car coverage...cheaper than any other way.
Last edited by Leesbro63 on Mon May 14, 2018 12:12 pm, edited 1 time in total.

SagaciousTraveler
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Re: Best cash-back credit card right now?

Post by SagaciousTraveler » Mon May 14, 2018 11:48 am

As others have mentioned the best cash back credit card is anything that pays you 2% (Citi Double).

However, if you want to earn more, you need to have a combination of cards, be organized and a have a supportive spouse.

We have the following:

1. Citi double: Provides a minimum floor of 2%.
2. Costco: 4% Gas, 3% Restaurant/Travel, 2% Costco.
3. Chase Freedom: 5% categories that cycle. I have taken advantage when they have offered 5% on Gas, Cable/Mobile Bills, Warehouse Clubs, certain stores/restaurants etc..

According to my spreadsheet last year we earned around 3.1%, which is a great rate of return for paying your monthly expenses (and one offs). The cash back rewards took a nice dent out of this years vacation.

I'm really surprised the government hasn't found a way to tax these rewards. :sharebeer :confused

chasingadvice
Posts: 24
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Re: Best cash-back credit card right now?

Post by chasingadvice » Mon May 14, 2018 5:52 pm

Cashback only with no annual fee :

CostcoCiti :4% Gas , 3% Travel, 2% Costco( 4% if executive member)
Chase Freedom: 5% categories (Jan-March : Gas ; April-June : Groceries; July-Sept : Restaurants; Oct-Dec: ? )
Amex BlueCash Everyday : 3% Groceries
Uber Visa : 4% Restaurants and food delivery
Chase Amazon : 5% on all Amazon purchases
Citi Double Cash : 2% on everything

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