Best 2% Cashback No Fee Credit Card (not travel)

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heallytim
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Best 2% Cashback No Fee Credit Card (not travel)

Post by heallytim »

What is the Best 2% Cashback No Fee Credit Card (not travel)?
We’ve been using Costco. Want to get another for non-Costco purchases. We also have an original 5% GM Card, and a Chase Southwest which gets us Companion fare free.
Thanks for assistance. Tim[*][*][*]Image[/img][/img]
mikeyzito22
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by mikeyzito22 »

heallytim wrote: Sun Jun 05, 2022 11:11 am What is the Best 2% Cashback No Fee Credit Card (not travel)?
We’ve been using Costco. Want to get another for non-Costco purchases. We also have an original 5% GM Card, and a Chase Southwest which gets us Companion fare free.
Thanks for assistance. Tim[*][*][*]Image[/img][/img]
CITI Double Cash.
student
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by student »

nalor511
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by nalor511 »

mikeyzito22 wrote: Sun Jun 05, 2022 11:14 am
heallytim wrote: Sun Jun 05, 2022 11:11 am What is the Best 2% Cashback No Fee Credit Card (not travel)?
We’ve been using Costco. Want to get another for non-Costco purchases. We also have an original 5% GM Card, and a Chase Southwest which gets us Companion fare free.
Thanks for assistance. Tim[*][*][*]Image[/img][/img]
CITI Double Cash.
Since citi switched to thankyou points, which can be devalued retroactively if they choose (used to be cash) I have been using the Fidelity 2% card, which I prefer. Only "downside" is that to get 2% you must deposit the rewards to a (free) fidelity account of your choosing.
runner3081
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by runner3081 »

Fidelity
Yarlonkol12
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by Yarlonkol12 »

boa unlimited cash rewards is 2.6% if you keep 100k in assets at boa for plat honors tier status, assets held at merrill lynch also count if you have 100k in ETFs to transfer in, usually they offer new account bonuses too. I got $900 a few years ago when I opened the account
My posts are for entertainment purposes only.
WhiteMaxima
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by WhiteMaxima »

FIA 529
WhiteMaxima
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by WhiteMaxima »

FIA 529 reward card
mikeyzito22
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by mikeyzito22 »

nalor511 wrote: Sun Jun 05, 2022 11:36 am
mikeyzito22 wrote: Sun Jun 05, 2022 11:14 am
heallytim wrote: Sun Jun 05, 2022 11:11 am What is the Best 2% Cashback No Fee Credit Card (not travel)?
We’ve been using Costco. Want to get another for non-Costco purchases. We also have an original 5% GM Card, and a Chase Southwest which gets us Companion fare free.
Thanks for assistance. Tim[*][*][*]Image[/img][/img]
CITI Double Cash.
Since citi switched to thankyou points, which can be devalued retroactively if they choose (used to be cash) I have been using the Fidelity 2% card, which I prefer. Only "downside" is that to get 2% you must deposit the rewards to a (free) fidelity account of your choosing.
I'm sorry, buy you can still get 2% back. It's just that you can choose the option for thank you points. Same as it ever was, just a marketing tool. Plus, I like to keep my brokerage away from my credit cards thank you. In other words, CITI double cash is exactly as it was before, just that you have the option of using "thank you" points. Its an option I dont entertain.
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Drew31
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by Drew31 »

nalor511 wrote: Sun Jun 05, 2022 11:36 am
mikeyzito22 wrote: Sun Jun 05, 2022 11:14 am
heallytim wrote: Sun Jun 05, 2022 11:11 am What is the Best 2% Cashback No Fee Credit Card (not travel)?
We’ve been using Costco. Want to get another for non-Costco purchases. We also have an original 5% GM Card, and a Chase Southwest which gets us Companion fare free.
Thanks for assistance. Tim[*][*][*]Image[/img][/img]
CITI Double Cash.
Since citi switched to thankyou points, which can be devalued retroactively if they choose (used to be cash) I have been using the Fidelity 2% card, which I prefer. Only "downside" is that to get 2% you must deposit the rewards to a (free) fidelity account of your choosing.
I often get perplexed on these that Fidelity isn’t the hands down choice. But then I remember not everyone wants that additional account required to get the full 2%
Luckywon
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by Luckywon »

nalor511 wrote: Sun Jun 05, 2022 11:36 am Since citi switched to thankyou points, which can be devalued retroactively if they choose (used to be cash) I have been using the Fidelity 2% card, which I prefer. Only "downside" is that to get 2% you must deposit the rewards to a (free) fidelity account of your choosing.
I'm confused about these Thank You points. Once you convert them to cash, you are where you would be if they had kept the old system, is that correct?

I'm going to look into the Fidelity card. Citi's customer service has been abysmal.
mikeyzito22
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by mikeyzito22 »

Luckywon wrote: Sun Jun 05, 2022 11:46 am
nalor511 wrote: Sun Jun 05, 2022 11:36 am Since citi switched to thankyou points, which can be devalued retroactively if they choose (used to be cash) I have been using the Fidelity 2% card, which I prefer. Only "downside" is that to get 2% you must deposit the rewards to a (free) fidelity account of your choosing.
I'm confused about these Thank You points. Once you convert them to cash, you are where you would be if they had kept the old system, is that correct?

I'm going to look into the Fidelity card. Citi's customer service has been abysmal.
You don't need to convert them at all. It's the same system. You can redeem the money in cash, same as it was. The option is that you can get "stuff" by looking at their offerings using the cash back in "Thank you" points. Its no different than it was before, they just want you to use your points to buy things.
SDLinguist
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by SDLinguist »

I just did this same thing with the Costco citi card. I added the Double Csh card.

Yes, they have switched to ThankYou points but you still redeem them for cash back at 1=1cent so it is the same value.

Yes they could devalue them later. Just don't build up $10k in points. It takes all of 30 seconds to redeem them for cash back. And if they do devalue them in the future that is a future you problem to solve later, not a problem to solve now.

Having both cards at citi, they have a nice interface, you can see the total outstanding balance of both cards together in one line. Its one less attack surface login wise.
Luckywon
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by Luckywon »

mikeyzito22 wrote: Sun Jun 05, 2022 11:50 am
Luckywon wrote: Sun Jun 05, 2022 11:46 am
nalor511 wrote: Sun Jun 05, 2022 11:36 am Since citi switched to thankyou points, which can be devalued retroactively if they choose (used to be cash) I have been using the Fidelity 2% card, which I prefer. Only "downside" is that to get 2% you must deposit the rewards to a (free) fidelity account of your choosing.
I'm confused about these Thank You points. Once you convert them to cash, you are where you would be if they had kept the old system, is that correct?

I'm going to look into the Fidelity card. Citi's customer service has been abysmal.
You don't need to convert them at all. It's the same system. You can redeem the money in cash, same as it was. The option is that you can get "stuff" by looking at their offerings using the cash back in "Thank you" points. Its no different than it was before, they just want you to use your points to buy things.
Yes I forgot under the old system you also had to convert to cash. That was a strange step they made you go through. I guess some points are not converted for a number of reasons (unawareness, account closed, death) so Citi would come out ahead then.
Luckywon
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by Luckywon »

SDLinguist wrote: Sun Jun 05, 2022 11:59 am
Yes, they have switched to ThankYou points but you still redeem them for cash back at 1=1cent so it is the same value.
Is it financially neutral opting for credit to the card vs deposit to a bank account? Does crediting to the card reduce the points awarded?
SDLinguist
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by SDLinguist »

The card is 1% back on purchase and 1% back for paying off the balance. Using points to pay off the balance does not earn points, so using points to pay off part of the balance will reduce the card to a 1.97% cash back card.

How much is .03% of the yearly spend on the card? And is there really a difference between paying the balance with points and getting cash back that is then used to pay the balance?
nalor511
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by nalor511 »

Drew31 wrote: Sun Jun 05, 2022 11:45 am
nalor511 wrote: Sun Jun 05, 2022 11:36 am
mikeyzito22 wrote: Sun Jun 05, 2022 11:14 am
heallytim wrote: Sun Jun 05, 2022 11:11 am What is the Best 2% Cashback No Fee Credit Card (not travel)?
We’ve been using Costco. Want to get another for non-Costco purchases. We also have an original 5% GM Card, and a Chase Southwest which gets us Companion fare free.
Thanks for assistance. Tim[*][*][*]Image[/img][/img]
CITI Double Cash.
Since citi switched to thankyou points, which can be devalued retroactively if they choose (used to be cash) I have been using the Fidelity 2% card, which I prefer. Only "downside" is that to get 2% you must deposit the rewards to a (free) fidelity account of your choosing.
I often get perplexed on these that Fidelity isn’t the hands down choice. But then I remember not everyone wants that additional account required to get the full 2%
I have a Fidelity account anyway. *shrug* - I trust fidelity not to add any fees to my account more than I trust citi not to devalue thankyou points. The Fidelity card has been around far longer than the Citi card anyway :happy
Luckywon
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by Luckywon »

SDLinguist wrote: Sun Jun 05, 2022 12:11 pm The card is 1% back on purchase and 1% back for paying off the balance. Using points to pay off the balance does not earn points, so using points to pay off part of the balance will reduce the card to a 1.97% cash back card.

How much is .03% of the yearly spend on the card? And is there really a difference between paying the balance with points and getting cash back that is then used to pay the balance?
Agreed, negligible. But if there are two buttons to click and one is 1.97 % and one is 2 %, I'll click 2 %.
MrJedi
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by MrJedi »

Getting TY points is better if you can get around the mental block of points and avoid the bad redemptions. There is no minimum redemption and you can take advantage of other offers that involve TY points. Sometimes they have deals on gift cards. If you have a Premier you can transfer points to travel partners if that's your thing.

People talk about future point devaluation but they could just as well devalue the cashback rate with the old system in the same way.
2tall4economy
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by 2tall4economy »

Fidelity

But Bank of Americas extra cash plan can be good if you already use them.

If not, fidelity.
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Jags4186
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by Jags4186 »

Fidelity pros:
Still offers things like purchase protection and extended warranty
Fidelity cons:
Need to redeem to Fidelity account
$50 minimum redemption

Citi pros:
Pair with Rewards+ for 2.2% cashback everywhere
Pair with Citi Premier to gain access to ThankYou points transfer partners
Citi cons:
3% FTF
No purchase protections

Wells Fargo Active Cash
Pros:
Cell phone protection
Cons
No purchase protections
Wells Fargo
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anon_investor
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by anon_investor »

Yarlonkol12 wrote: Sun Jun 05, 2022 11:41 am boa unlimited cash rewards is 2.6% if you keep 100k in assets at boa for plat honors tier status, assets held at merrill lynch also count if you have 100k in ETFs to transfer in, usually they offer new account bonuses too. I got $900 a few years ago when I opened the account
+1 for BoA. 2.62% cash back is impossible to beat.
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Drew31
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by Drew31 »

Jags4186 wrote: Sun Jun 05, 2022 12:47 pm Fidelity cons:
$50 minimum redemption
I don’t think this is true anymore. I have rewards on auto-deposit and I’ve seen redemptions as low as $32. I’ve not looked to see if policy has been updated.
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AerialWombat
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by AerialWombat »

Drew31 wrote: Sun Jun 05, 2022 1:03 pm
Jags4186 wrote: Sun Jun 05, 2022 12:47 pm Fidelity cons:
$50 minimum redemption
I don’t think this is true anymore. I have rewards on auto-deposit and I’ve seen redemptions as low as $32. I’ve not looked to see if policy has been updated.
Yes, the policy was recently changed. Minimum redemption is now $25.
This post is a work of fiction. Any similarity to real financial advice is purely coincidental.
muffins14
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by muffins14 »

I am pleased with the fidelity card, but the BofA card seems clearly better from a cash back perspective. Question is how much that extra 0.625% is worth to you be the cost (financial, or time, or stress) of having another account
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Drew31
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by Drew31 »

muffins14 wrote: Sun Jun 05, 2022 1:14 pm I am pleased with the fidelity card, but the BofA card seems clearly better from a cash back perspective. Question is how much that extra 0.625% is worth to you be the cost (financial, or time, or stress) of having another account
This is BoA with Merrill Edge, correct? It requires a $100k BoA account? Trying to remember out of memory
LuckyInLife
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by LuckyInLife »

Wells Fargo has a 2% cash back card with no strings. I just opened this year, and it was a $100 bonus after a pretty minimal spend. It also has '"offers" at specific retailers where you need to activate, but you can get either additional percentage cash back or a fixed sum. I have just been redeeming for statement credit since I don't have a WF checking account.
Luckywon
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by Luckywon »

muffins14 wrote: Sun Jun 05, 2022 1:14 pm I am pleased with the fidelity card, but the BofA card seems clearly better from a cash back perspective. Question is how much that extra 0.625% is worth to you be the cost (financial, or time, or stress) of having another account
Had a BofA checking account and credit card both ended due to miserable customer service experiences.

My mortgage not originally BofA but purchased by BofA ended badly. At payoff time they tried to collect additional fees not in the original Agreement I signed.

Two deceased relatives had BA/Merrill accounts and I had to deal with their estate department. I have never had to deal with a more purposefully obstructive and soulless department.

So any extra xxx % from a BofA credit card is not worth it to me. YMMV.
inepteft
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by inepteft »

heallytim wrote: Sun Jun 05, 2022 11:11 am What is the Best 2% Cashback No Fee Credit Card (not travel)?
We’ve been using Costco. Want to get another for non-Costco purchases. We also have an original 5% GM Card, and a Chase Southwest which gets us Companion fare free.
Thanks for assistance. Tim[*][*][*]Image[/img][/img]
I recently got the Fidelity card and have been happy with it so far. Also, be sure to take advantage of the current $150 bonus if you're planning on getting the Fidelity Rewards card. You can also get $100 for opening a Fidelity account if you don't already have one (or for opening a different account type, I believe, if you already have a Fidelity account).

https://www.fidelity.com/go/special-offer
https://www.fidelity.com/go/visa-signature-rewards-1502
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JoMoney
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by JoMoney »

Since getting the Costco card, it's been my go-to. Dining and Gas are my largest spending categories, and the 3%/4% on those via the Costco card just makes it come out on top, and I have a preference for keeping my charges consolidated on a single statement if I can.

If I was going to work another card into the mix, I'd use the Citi "Custom Cash" card that offers 5% on whichever is the largest spend category each month up to $500. I'd use it for grocery or use it to purchase a $500 visa gift card at a grocery store, which I can get at a $5.99 purchase fee netting aprox. 3.75% cash back net of the fee, and I can use that to purchase whatever.

If I was willing to open another bank account somewhere, I've considered the Alliant CU Visa Signature card, which offers 2.5% cash back on everything, but requires maintaining one of their Alliant High-Rate Checking accounts (which looks like a pretty nice checking account as it is...)
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham
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StAug1967
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by StAug1967 »

If you are willing to maintain a checking account at Alliant Credit Union with $1000 min balance + 1 electronic deposit monthly, their Visa Signature card earns 2.5% cash back. I've had this card for nine months and have been happy with it.

We do still use our Fidelity Visa 2% card for some old recurring monthly bills. We will probably change these over to Alliant soon.

Of the two cards, I prefer the cash back redemption simplicity of the Fidelity card (auto-redeems to our cash management account). The Alliant cash back redemption requires logging into their site and clicking a few buttons but the effort is worth it to me though as I'm getting 2.5% cash back.
Johnny Thinwallet
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by Johnny Thinwallet »

I have the Fidelity Visa 2% card, and I just send the reward dollars to our Fidelity Roth. So long as I can always contribute to a Roth, this is what I'll do until something better comes along. I've had the card since 2010 back when it was a Fidelity AMEX. It's been consistently good.

Plus, now they have a pattern of offering extra rewards during certain time periods as in "spend x dollars in June and July, get bonus points for spend above that up to $20 extra." Sometimes I end up getting the extra rewards, other times I don't. But I always click to enter just in case.
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by Jazztonight »

JoMoney wrote: Sun Jun 05, 2022 2:10 pm Since getting the Costco card, it's been my go-to. Dining and Gas are my largest spending categories, and the 3%/4% on those via the Costco card just makes it come out on top, and I have a preference for keeping my charges consolidated on a single statement if I can...
+1

The Costco Visa Signature Business Executive card is our go-to card for pretty much everything, especially gas, and cruise and air fares.

But I also have a CapitalOne Quicksilver card that rebates 1.5%, and does not have any foreign fees (many other cards do).
"What does not destroy me, makes me stronger." Nietzsche
nalor511
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by nalor511 »

StAug1967 wrote: Sun Jun 05, 2022 2:17 pm If you are willing to maintain a checking account at Alliant Credit Union with $1000 min balance + 1 electronic deposit monthly, their Visa Signature card earns 2.5% cash back. I've had this card for nine months and have been happy with it.

We do still use our Fidelity Visa 2% card for some old recurring monthly bills. We will probably change these over to Alliant soon.

Of the two cards, I prefer the cash back redemption simplicity of the Fidelity card (auto-redeems to our cash management account). The Alliant cash back redemption requires logging into their site and clicking a few buttons but the effort is worth it to me though as I'm getting 2.5% cash back.
Wow, super interesting. I thought the Alliant card had an annual fee, maybe it used to. I already meet those criteria!

Of course, my non-category spend that I use my 2% card for is <$100/mo, so, a whopping $6/yr extra rewards if I switched to a 2.5% card. So I will not do that. Maximizing rewards on the category spends (e.g. groceries) is far more worthwhile for me than trying to boost non-category rewards since I spend so little there
Bogle64Pilot
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by Bogle64Pilot »

Fidelity no questions asked. Have had my card a little over a year and it’s flawless.
arf1410
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by arf1410 »

Jags4186 wrote: Sun Jun 05, 2022 12:47 pm Fidelity pros:
Still offers things like purchase protection and extended warranty
Fidelity cons:
Need to redeem to Fidelity account
$50 minimum redemption

Citi pros:
Pair with Rewards+ for 2.2% cashback everywhere
Pair with Citi Premier to gain access to ThankYou points transfer partners
Citi cons:
3% FTF
No purchase protections

Wells Fargo Active Cash
Pros:
Cell phone protection
Cons
No purchase protections
Wells Fargo
You CERTAIN the Fidelity extended warranty is still offered? Best I can tell, that ended in 2021. Also not longer offers rental car collision damage waiver...and a 1% foreign transaction fee...
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JoMoney
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by JoMoney »

Jazztonight wrote: Sun Jun 05, 2022 3:04 pm
JoMoney wrote: Sun Jun 05, 2022 2:10 pm Since getting the Costco card, it's been my go-to. Dining and Gas are my largest spending categories, and the 3%/4% on those via the Costco card just makes it come out on top, and I have a preference for keeping my charges consolidated on a single statement if I can...
+1

The Costco Visa Signature Business Executive card is our go-to card for pretty much everything, especially gas, and cruise and air fares.

But I also have a CapitalOne Quicksilver card that rebates 1.5%, and does not have any foreign fees (many other cards do).
Note the Costco (Citi) Visa card also has no foreign transaction fee, and with the 3% back on dining and travel, as well as offering CDW on rental cars, makes it hard to beat even as a travel card.
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham
MBB_Boy
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by MBB_Boy »

PayPal is 2% cashback everywhere and no fee, and 3% online when you use the PayPal button
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heallytim
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by heallytim »

arf1410 wrote: Sun Jun 05, 2022 3:45 pm
Jags4186 wrote: Sun Jun 05, 2022 12:47 pm Fidelity pros:
Still offers things like purchase protection and extended warranty
Fidelity cons:
Need to redeem to Fidelity account
$50 minimum redemption

Citi pros:
Pair with Rewards+ for 2.2% cashback everywhere
Pair with Citi Premier to gain access to ThankYou points transfer partners
Citi cons:
3% FTF
No purchase protections

Wells Fargo Active Cash
Pros:
Cell phone protection
Cons
No purchase protections
Wells Fargo
You CERTAIN the Fidelity extended warranty is still offered? Best I can tell, that ended in 2021. Also not longer offers rental car collision damage waiver...and a 1% foreign transaction fee...
https://www.investopedia.com/fidelity-s ... on-5115345

What Cardholders Stand to Lose
While cardholders can still enjoy unlimited 2% cash back on points redeemed into a qualifying Fidelity Investments account, the loss of the auto rental collision damage waiver and extended warranty protection benefits on April 1, 2021 is likely to make the card less attractive to some consumers. Here is what cardholders will be losing
Bdouvs
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by Bdouvs »

Luckywon wrote: Sun Jun 05, 2022 1:37 pm
muffins14 wrote: Sun Jun 05, 2022 1:14 pm I am pleased with the fidelity card, but the BofA card seems clearly better from a cash back perspective. Question is how much that extra 0.625% is worth to you be the cost (financial, or time, or stress) of having another account
Had a BofA checking account and credit card both ended due to miserable customer service experiences.

My mortgage not originally BofA but purchased by BofA ended badly. At payoff time they tried to collect additional fees not in the original Agreement I signed.

Two deceased relatives had BA/Merrill accounts and I had to deal with their estate department. I have never had to deal with a more purposefully obstructive and soulless department.

So any extra xxx % from a BofA credit card is not worth it to me. YMMV.
I also recently had BoA involuntarily cancel my credit cards and my checking account. They claimed it was a business decision.

I'm looking into the Fidelity CC
jmanter
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by jmanter »

JoMoney wrote: Sun Jun 05, 2022 2:10 pm Since getting the Costco card, it's been my go-to. Dining and Gas are my largest spending categories, and the 3%/4% on those via the Costco card just makes it come out on top, and I have a preference for keeping my charges consolidated on a single statement if I can.
I just really don't like waiting to redeem once a year. Is that still the procedure? I also wasn't able to set up auto pay. Do they offer that yet?
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by flah »

mikeyzito22 wrote: Sun Jun 05, 2022 11:43 am
nalor511 wrote: Sun Jun 05, 2022 11:36 am
mikeyzito22 wrote: Sun Jun 05, 2022 11:14 am
heallytim wrote: Sun Jun 05, 2022 11:11 am What is the Best 2% Cashback No Fee Credit Card (not travel)?
We’ve been using Costco. Want to get another for non-Costco purchases. We also have an original 5% GM Card, and a Chase Southwest which gets us Companion fare free.
Thanks for assistance. Tim[*][*][*]Image[/img][/img]
CITI Double Cash.
Since citi switched to thankyou points, which can be devalued retroactively if they choose (used to be cash) I have been using the Fidelity 2% card, which I prefer. Only "downside" is that to get 2% you must deposit the rewards to a (free) fidelity account of your choosing.
I'm sorry, buy you can still get 2% back. It's just that you can choose the option for thank you points. Same as it ever was, just a marketing tool. Plus, I like to keep my brokerage away from my credit cards thank you. In other words, CITI double cash is exactly as it was before, just that you have the option of using "thank you" points. Its an option I dont entertain.
It's actually more convenient now because the direct deposit redemption minimum is 1 "thank you" point. The old scheme had a minimum redemption of $25.
Jags4186
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by Jags4186 »

heallytim wrote: Sun Jun 05, 2022 4:45 pm
arf1410 wrote: Sun Jun 05, 2022 3:45 pm
Jags4186 wrote: Sun Jun 05, 2022 12:47 pm Fidelity pros:
Still offers things like purchase protection and extended warranty
Fidelity cons:
Need to redeem to Fidelity account
$50 minimum redemption

Citi pros:
Pair with Rewards+ for 2.2% cashback everywhere
Pair with Citi Premier to gain access to ThankYou points transfer partners
Citi cons:
3% FTF
No purchase protections

Wells Fargo Active Cash
Pros:
Cell phone protection
Cons
No purchase protections
Wells Fargo
You CERTAIN the Fidelity extended warranty is still offered? Best I can tell, that ended in 2021. Also not longer offers rental car collision damage waiver...and a 1% foreign transaction fee...
https://www.investopedia.com/fidelity-s ... on-5115345

What Cardholders Stand to Lose
While cardholders can still enjoy unlimited 2% cash back on points redeemed into a qualifying Fidelity Investments account, the loss of the auto rental collision damage waiver and extended warranty protection benefits on April 1, 2021 is likely to make the card less attractive to some consumers. Here is what cardholders will be losing
Thanks for the news to me. Makes the card much less compelling.
BF3000
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by BF3000 »

With the possible exception of a lineup that includes the boa card with $100k parked at Merrill, it is hard to beat this 3-card, cash-only lineup:

6% groceries. Amex blue cash preferred

6% streaming. Amex blue Cash preferred.

5% travel. Chase freedom unlimited (if booked through ultimate rewards)

3% gas. Amex blue cash preferred.

3% restaurants. Chase freedom unlimited.

2.5% everything else: Alliant signature visa.
teamDE
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by teamDE »

Citi DC is the simplest and most straightforward flat 2%. No requirements to have other accounts, certain amounts of money, certain tiers of status, etc.

If you're ok with a business card, the Amex Blue Business Preferred is flat 2% and has some good perks.

I'd rather eat poop than bank with BofA.
skeptical
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by skeptical »

Drew31 wrote: Sun Jun 05, 2022 11:45 am
I often get perplexed on these that Fidelity isn’t the hands down choice. But then I remember not everyone wants that additional account required to get the full 2%
I have the Fidelity card, but I strongly recommend having a backup card because of extraordinary poor customer support. Actually, it is not a Fidelity card, it is an Elan card, and Fidelity will not get involved, even if you have problems with Elan.

My Fidelity card was "reissued" due to some problem that they could not tell me about, other than it was a problem with one of their vendors. Ok, that happens. However, they did not tell me this, I found out when my card was denied on a Thursday evening, and then again on a Friday morning. I called that Friday morning to ask why. They could not send the card out until Monday, since they could not turn it around that same day, and they do not work on the weekends. So, my new card comes in Wednesday morning (they would not overnight the card), and I could not use my card for several days.

Cards I have had in the past would overnight a new card, even if the issue was fraud on the card (in this case it was one of their vendors), and I would get proactively alerted.

Good thing I have a backup card.
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JoMoney
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by JoMoney »

jmanter wrote: Sun Jun 05, 2022 7:48 pm
JoMoney wrote: Sun Jun 05, 2022 2:10 pm Since getting the Costco card, it's been my go-to. Dining and Gas are my largest spending categories, and the 3%/4% on those via the Costco card just makes it come out on top, and I have a preference for keeping my charges consolidated on a single statement if I can.
I just really don't like waiting to redeem once a year. Is that still the procedure? I also wasn't able to set up auto pay. Do they offer that yet?
Yes, still the annual certificate to get your cash-back bonus.
Yes, auto-pay appears to be an option. I don't use it (I don't like the idea of paying until I can review all the transactions), but when I log in to the Citi website under the payments option, there is an "AutoPay" feature that shows my Costco card with the option to "Enroll this card" for AutoPay.
"To achieve satisfactory investment results is easier than most people realize; to achieve superior results is harder than it looks." - Benjamin Graham
Dottie57
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by Dottie57 »

runner3081 wrote: Sun Jun 05, 2022 11:40 am Fidelity
+1. I can use the 2% to buy mutual funds.
runner3081
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by runner3081 »

Dottie57 wrote: Sun Jun 05, 2022 10:19 pm
runner3081 wrote: Sun Jun 05, 2022 11:40 am Fidelity
+1. I can use the 2% to buy mutual funds.
I actually transfer it to my bank account, then to Vanguard for VTI and VXUS :)
tbradnc
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Re: Best 2% Cashback No Fee Credit Card (not travel)

Post by tbradnc »

2 that haven't been mentioned are the Penfed PowerCash Rewards card which earns 2% and State Department FCU has a 2% card. It's a Visa SIgnature, no international transaction fees and is a true chip and PIN card.

A plus for both these cards is that they earn 2% on purchases (not 1%+1% on payments like Citi) and the cash is available as soon as the charges post. You don't have to wait for statement close to redeem it.
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