Best cash-back credit card right now?
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Best cash-back credit card right now?
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?
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?
Re: Best cash-back credit card right now?
I would get the citi double cash or the fidelity visa for 2% cash back and use it when your AMEX only gives 1%.
Re: Best cash-back credit card right now?
Other info here (in addition to other posts on this forum)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?
viewtopic.php?t=203543
Remember when you wanted what you currently have?
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Re: Best cash-back credit card right now?
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: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?
- 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.
Re: Best cash-back credit card right now?
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.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?
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Re: Best cash-back credit card right now?
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.
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
Re: Best cash-back credit card right now?
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.)
(I also use the Citi 2% card.)
Re: Best cash-back credit card right now?
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.
Citi double cash for everything else. I even pay utilities and insurance with it.
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.
Citi double cash for everything else. I even pay utilities and insurance with it.
Re: Best cash-back credit card right now?
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.
Bogleheads Wiki: https://www.bogleheads.org/wiki/Main_Page
Re: Best cash-back credit card right now?
Here is one good list:
https://www.fragiledeal.com/t/best-rewa ... -cards/127
I got the Alliant 3% cashback card:
http://www.alliantcreditunion.org/bank/ ... fb2b218f69
https://www.fragiledeal.com/t/best-rewa ... -cards/127
I got the Alliant 3% cashback card:
http://www.alliantcreditunion.org/bank/ ... fb2b218f69
Re: Best cash-back credit card right now?
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.
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.
We don't know how to beat the market on a risk-adjusted basis, and we don't know anyone that does know either |
--Swedroe |
We assume that markets are efficient, that prices are right |
--Fama
Re: Best cash-back credit card right now?
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.
Re: Best cash-back credit card right now?
Paypal Mastercard from Syncrony with 2% back on everything and no annual fees.
The market is the most efficient mechanism anywhere in the world for transferring wealth from impatient people to patient people.” |
— Warren Buffett
Re: Best cash-back credit card right now?
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.midareff wrote: ↑Sun May 06, 2018 8:39 amJack 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.
Re: Best cash-back credit card right now?
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?
Re: Best cash-back credit card right now?
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.adman_c wrote: ↑Sun May 06, 2018 8:50 amEveryone 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.midareff wrote: ↑Sun May 06, 2018 8:39 amJack 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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Re: Best cash-back credit card right now?
Naa, that thread is way too old (2016). I think the most recent one is from April 15, 2018:Freefun wrote: ↑Sun May 06, 2018 6:03 am
Other info here (in addition to other posts on this forum)
viewtopic.php?t=203543
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”.
Re: Best cash-back credit card right now?
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%ShadowRegent wrote: ↑Sun May 06, 2018 6:13 amBad 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: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?
All of the above are cash or statement credit redemptions, so no travel points just straight cashback.
- 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.
- SmileyFace
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Re: Best cash-back credit card right now?
OP: My answer (and many others) is in the thread above.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”.
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Re: Best cash-back credit card right now?
Yes, those numbers are with the 75% for platinum honors. Without the bonus, the cards aren't terribly attractive.Hogan773 wrote: ↑Mon May 07, 2018 10:10 amOn 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%ShadowRegent wrote: ↑Sun May 06, 2018 6:13 amBad 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: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?
All of the above are cash or statement credit redemptions, so no travel points just straight cashback.
- 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.
- scorcher31
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Re: Best cash-back credit card right now?
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
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
Re: Best cash-back credit card right now?
What are your major spend categories for this $15K? If most of it is noncategory then definitely get a 2% card.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?
Re: Best cash-back credit card right now?
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.ShadowRegent wrote: ↑Mon May 07, 2018 6:37 pmYes, those numbers are with the 75% for platinum honors. Without the bonus, the cards aren't terribly attractive.Hogan773 wrote: ↑Mon May 07, 2018 10:10 amOn 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%ShadowRegent wrote: ↑Sun May 06, 2018 6:13 amBad 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: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?
All of the above are cash or statement credit redemptions, so no travel points just straight cashback.
- 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.
Re: Best cash-back credit card right now?
excellent summary, thank you! people often hyperlink to threads, which is definitely helpful, but then im stuck reading through a 20+ page thread...ShadowRegent wrote: ↑Sun May 06, 2018 6:13 amBad 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: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?
All of the above are cash or statement credit redemptions, so no travel points just straight cashback.
- 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.
“TE OCCIDERE POSSUNT SED TE EDERE NON POSSUNT NEFAS EST"
Re: Best cash-back credit card right now?
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.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.
“TE OCCIDERE POSSUNT SED TE EDERE NON POSSUNT NEFAS EST"
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Re: Best cash-back credit card right now?
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.
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.
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Re: Best cash-back credit card right now?
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.
— 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.
Re: Best cash-back credit card right now?
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...
Simplicity has its advantages.
All the best...
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Re: Best cash-back credit card right now?
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
Re: Best cash-back credit card right now?
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.
Re: Best cash-back credit card right now?
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.
Re: Best cash-back credit card right now?
THIS (for me)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.
I did not want to have to coerce my spouse into rotating categories, so this seemed to be about the best I could do.
- 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 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
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Re: Best cash-back credit card right now?
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.
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.
Bogle: Smart Beta is stupid
Re: Best cash-back credit card right now?
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.
Re: Best cash-back credit card right now?
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.
Re: Best cash-back credit card right now?
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.
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.
- sunny_socal
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Re: Best cash-back credit card right now?
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)
[1] Costco/Citi Visa card for gas (4%) and restaurants (3%)
[2] Alliant Visa for everything else (3% first year, 2.5% thereafter)
Re: Best cash-back credit card right now?
Note that Discover dropped their Price Protection as of February 28 due to people scamming benefiting from the program.
Re: Best cash-back credit card right now?
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
Re: Best cash-back credit card right now?
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:Hogan773 wrote: ↑Wed May 09, 2018 3:46 pmYou 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
Extended Product Warranty
Return Guarantee
Purchase Protection
Auto Rental Insurance
Flight Accident Insurance
Re: Best cash-back credit card right now?
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
- Posts: 366
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Re: Best cash-back credit card right now?
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.
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.
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Re: Best cash-back credit card right now?
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
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
Re: Best cash-back credit card right now?
Penfed Power Cash Rewards Visa Signature Card
2% rebate, unlimited. $100 credit for first $1500 spent in 90 days.
2% rebate, unlimited. $100 credit for first $1500 spent in 90 days.
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Re: Best cash-back credit card right now?
If you shop a lot from Amazon, their Visa card sounds like a no-brainer to me (although you need a solid credit score to be approved).
Re: Best cash-back credit card right now?
Ugh, just found out the premium for my new Obamacare policy. The only silver lining here (other than having access to health insurance for pre-existing conditions, which I do very much appreciate) is that I found out about the Citi double cash card and just got approved. I will be able to charge my monthly premiums. Yay. I don't have the personality to do credit card churning big time, but I really like dedicating a credit card to my medical copays and premiums, so at tax time, I just look at the total spent for the year to see if I can deduct.
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Re: Best cash-back credit card right now?
This doesn't seem right:sfchris wrote: ↑Sun May 06, 2018 8:23 am Here is one good list:
https://www.fragiledeal.com/t/best-rewa ... -cards/127
Grocery
3.5% Bank of America Premium Rewards with Platinum Honors status. Must have $100,000 in qualifying assets with Merrill and BOA combined.
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Re: Best cash-back credit card right now?
BoA Cards - I typically average 4% cash-back for all categories
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Re: Best cash-back credit card right now?
confusedinvestor wrote: ↑Fri Jun 28, 2019 12:27 am BoA Cards - I typically average 4% cash-back for all categories
With PR Platinium Honors?confusedinvestor wrote: ↑Fri Jun 28, 2019 12:27 am BoA Cards - I typically average 4% cash-back for all categories
Which card gives you 4% for grocery? And gas?
- FrugalProfessor
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Re: Best cash-back credit card right now?
BoA cash rewards earns 5.25%.international001 wrote: ↑Fri Jun 28, 2019 8:13 amconfusedinvestor wrote: ↑Fri Jun 28, 2019 12:27 am BoA Cards - I typically average 4% cash-back for all categoriesWith PR Platinium Honors?confusedinvestor wrote: ↑Fri Jun 28, 2019 12:27 am BoA Cards - I typically average 4% cash-back for all categories
Which card gives you 4% for grocery? And gas?
https://www.frugalprofessor.com/one-mon ... ards-card/
https://www.frugalprofessor.com/best-cr ... 8-edition/
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