Current choices for Cash Back Credit Cards

[Done]

Alliant Credit Union has a Visa Signature that pays 2.5% cash back on everything. No annual fee the first year but $99 thereafter, so it’s better than a free 2% card if you spend more than $19,800/yr. No foreign transaction fee. Anyone can join.

I use the Costco Visa for 4% on gas and 3% on restaurants/travel and the Alliant card for 2.5% on everything else. The Costco card provides an extended warranty so I also use it (at 1% cash back) for some electronics and big-ticket items.

[kgtest]

We have:

Chase Freedom
DW Chase Freedom
DiscoverIT
Citi Cash Back
Bank Of America
Amazon


I tried to apply for the Chase Freedom Unlimited the same time as the Citi Cash but they denied me, I think too many chase cards so I closed one and will try again in a few more months.

DW is also probably going to apply for Chase Freedom Unlimited beginning of year.

The only one we pay a "fee" for is the Amazon, but that's because you NEED the $120 prime membership to be eligible, sorta like costco charges a membership fee of what $60...

We use Chase Freedom the most. I put each cards rotating "categories" on our paper calendar so its visually there before we run out to buy something, check to see if its in a rewards zone and use accordingly.

This has worked well for us, we've saved on Gas, eating out, online purchases and straight hard cash many times of 1, 1.5 or even up to 5% back depending on the category. IMHO the simplest way to never pay retail...just use a discount card.

I noticed our switch pre-kids from targeting airline miles oriented cards, to now cash back cards...we collected so many airline miles and now COVID post kids it just doesn't seem to make sense to continue that strategy.

[target2019]

Penfed Cash Rewards Visa - 5% all gasoline purchases
Amex SimplyCash Business Card - 5% telecom and office supply
DiscoverIt Garnet Card - Categories vary for 5% off
Amazon Prime Visa - 5% off amazon & whole food purchases
Lowes Advantage - 5% in store
USAA Cash Rewards Visa - 1.5% all

These are all no-fee cards. Each time I look at a fee card there is some attraction. The problem for us though is in execution. For example I went for a higher fee BJs card, but our purchases have fallen off dramatically. Now I'll have to monitor this, and remember to drop the card or figure out an alternative. That's just us, and I'm sure all the cards mentioned in thread are worthwhile in some cases.

[Lsbcal]

Quote:

Originally Posted by kgtest We have: Chase Freedom DW Chase Freedom DiscoverIT Citi Cash Back Bank Of America Amazon I tried to apply for the Chase Freedom Unlimited the same time as the Citi Cash but they denied me, I think too many chase cards so I closed one and will try again in a few more months. DW is also probably going to apply for Chase Freedom Unlimited beginning of year. The only one we pay a "fee" for is the Amazon, but that's because you NEED the $120 prime membership to be eligible, sorta like costco charges a membership fee of what $60... We use Chase Freedom the most. I put each cards rotating "categories" on our paper calendar so its visually there before we run out to buy something, check to see if its in a rewards zone and use accordingly. This has worked well for us, we've saved on Gas, eating out, online purchases and straight hard cash many times of 1, 1.5 or even up to 5% back depending on the category. IMHO the simplest way to never pay retail...just use a discount card. I noticed our switch pre-kids from targeting airline miles oriented cards, to now cash back cards...we collected so many airline miles and now COVID post kids it just doesn't seem to make sense to continue that strategy.

If you'd like to change the Chase Freedom to the Freedom Unlimited, I think you could just call them and they would offer to make the switch. When I was cancelling the Chase Sapphire they offered to make it a Freedom Unlimited but I already had one of those.

[Sunset]

Quote:

Originally Posted by Lsbcal If you'd like to change the Chase Freedom to the Freedom Unlimited, I think you could just call them and they would offer to make the switch. When I was cancelling the Chase Sapphire they offered to make it a Freedom Unlimited but I already had one of those.

A problem with simply making a switch is you don't get the signup bonus, at least that is what happened to me when I made a switch.

The signup bonuses can equal a lot of spending:
A card that returns 2% would need spending of $10,000 to equal a bonus of $200.

[Gotadimple]

Quote:

Originally Posted by Done Alliant Credit Union has a Visa Signature that pays 2.5% cash back on everything. No annual fee the first year but $99 thereafter, so it’s better than a free 2% card if you spend more than $19,800/yr. No foreign transaction fee. Anyone can join. I use the Costco Visa for 4% on gas and 3% on restaurants/travel and the Alliant card for 2.5% on everything else. The Costco card provides an extended warranty so I also use it (at 1% cash back) for some electronics and big-ticket items.

The Costco Visa (Citi) also has no foreign transaction fee.

Rita

[Sunset]

Quote:

Originally Posted by kgtest We have: Chase Freedom DW Chase Freedom DiscoverIT Citi Cash Back Bank Of America Amazon I tried to apply for the Chase Freedom Unlimited the same time as the Citi Cash but they denied me, I think too many chase cards so I closed one and will try again in a few more months. DW is also probably going to apply for Chase Freedom Unlimited beginning of year. ..

Maybe you ran into the Chase 5/24 rule

https://www.uponarriving.com/chase-5-24-rule/

[RunningBum]

Which of the 2%/no fee cards gives you notifications when used? I use Penfed's Power Cash Rewards for 2% (with PF checking acct), but it doesn't give me notifications. I don't like when my card leaves my hands (many restaurants), card reader could be compromised (gas station risk) or can be hacked (online), so I'd rather have a card that notifies me of every transaction so I can quickly see it's been compromised. I have a couple of 1.5% cards I use in those situations. I'd rather find another 2% card.

[Sunset]

All my Bank of America CC's give me notice, I set them to notify me of anything over $1.00

The Cash reward one, is super great if you are willing to join their Preferred Rewards program (which is free and great). It does mean having a Merrill Lynch brokerage account.

With the Preferred Rewards designation my Cash CC returns 5.25% (instead of 3%) on my choice of category, and 3.5% (instead of 2%) on grocery and wholesale clubs.

[foxfirev5]

Spending has a greater benefit than savings. Here in bizarro world I sticking with the Fido 2% card crediting monthly to my cash account. All monthly bills that have no surcharge go auto to the card.

[mysticsurf]

Fidelity Visa 2% for everyday...

Amazon Prime Visa for purchases at Amazon & Whole Foods

Costco Visa for Costco, Restaurants and Gas

Citi Doublecash 2% as a backup

[pb4uski]

Quote:

Originally Posted by RunningBum Which of the 2%/no fee cards gives you notifications when used? I use Penfed's Power Cash Rewards for 2% (with PF checking acct), but it doesn't give me notifications. I don't like when my card leaves my hands (many restaurants), card reader could be compromised (gas station risk) or can be hacked (online), so I'd rather have a card that notifies me of every transaction so I can quickly see it's been compromised. I have a couple of 1.5% cards I use in those situations. I'd rather find another 2% card.

My Citi Double Cash gives me 2% and text alerts.

[Alex The Great]

Chase Freedom 5% on groceries, gas, Amazon or dept stores (rotating)
Discover Cash Back 5% on groceries, gas, Amazon or dept stores (rotating)
Consumer CU Signature Visa 3% on groceries (always)
Penfed Cash Rewards Visa 5% on gas (always)
Penfed Power Cash Rewards 2% on everything else, including outside of US because of no FTF

[TrvlBug]

Quote:

Originally Posted by gerntz AmexBlue Preferred is 6% on supermarkets (not just groceries) to $6K/yr but $95 fee. So first $1600 at grocery chains coveries the fee. Works out to 4.4% on $6K groceries. Also 3% on gas not affliated with grocrey stores, & 6% on streaming services. Of course this leaves out Costco & Sam's.

I'm thinking of getting this card for the 6% grocery store cash back. My go to card is the Fidelity with 2% cash back. Does this AmEx card have the great 'car insurance' option that the old Costco AmEx had? IIRC for ~$25 per car rental, it becomes the primary insurance coverage.

[Sue J]

If you have the Chase Freedom card with the 5% cash back on quarterly categories, the qualifying merchants for Oct 1 through Dec 31 are Walmart and PayPal.

https://creditcards.chase.com/freedo...cards/calendar

This one works very well for us. We do Walmart grocery pickup and use PayPal for all Ebay transactions and plenty of other things. We should be able to reach the $1500 ($75 cash back) maximum easily.

[kgtest]

Quote:

Originally Posted by Lsbcal If you'd like to change the Chase Freedom to the Freedom Unlimited, I think you could just call them and they would offer to make the switch. When I was cancelling the Chase Sapphire they offered to make it a Freedom Unlimited but I already had one of those.

Good, call! If it's an either or I might do that!

[kgtest]

Quote:

Originally Posted by TrvlBug I'm thinking of getting this card for the 6% grocery store cash back. My go to card is the Fidelity with 2% cash back. Does this AmEx card have the great 'car insurance' option that the old Costco AmEx had? IIRC for ~$25 per car rental, it becomes the primary insurance coverage.

This might be the next 2021 card for us as well. Going to make sure the 2 or 3 grocers I shop at take Amex first tho

[audreyh1]

Quote:

Originally Posted by Gotadimple The Costco Visa (Citi) also has no foreign transaction fee. Rita

That was a wonderful change. We promptly started using it for all overseas hotel and dining expenses for the 3% rewards. Really added up!

[aja8888]

Once upon a time we had 6+% CD's and no cash rebated on CC use.

Now we have <1% CD's and 1.5 - up to 6% paid back on spending from CC purchases. Crazy stuff!

[Dtail]

Quote:

Originally Posted by aja8888 Once upon a time we had 6+% CD's and no cash rebated on CC use. Now we have <1% CD's and 1.5 - up to 6% paid back on spending from CC purchases. Crazy stuff!

I'll take the first choice, even though inflation was higher and we maximize our use of CC's.