I spent $180,000 with my credit card last year. Lots but not unusual. Certainly I am missing out on a rewards credit card. But which one gives me the best benefits? I want the best cash rewards. Help.
Start here, lots of good recommendations.
https://www.nerdwallet.com/best/credit-cards/rewards
Get a 2% cashback card from Fidelity or Ally bank while you work through the list on signup bonuses, travel rewards, restaurants, gas, etc. At your spend rate, you are leaving $300/month on table that you could be getting with the 2% rewards.
Once you are more familiar with the landscape you can get the cards with higher signup bonuses (which might fit you better) and rewards.
Problem with Nerdwallet is they steer you to cards that pay them the largest referral fee. Best site is Doctorofcredit.com
1 Personal Credit Cards
1.1 AmEx Everyday No Annual Fee, 1-1.2 Membership Rewards Points, No Annual Fee
1.2 Capital One Quicksilver, 1.5% Cash Back, No Annual Fee
1.3 AmEx Everyday Preferred, 1-1.5x Membership Rewards Points $95 Annual Fee Waived First Year
1.4 Chase Freedom Unlimited: 1.5x Chase Ultimate Rewards, No Annual Fee
1.5 Capital One Venture Miles Rewards: 1-2% Cash Back, $59 Annual Fee
1.6 Barclays Arrival Plus: 1-2.1% Cash Back, $89 Annual Fee Waived First Year
1.7 Bank of America Travel Rewards – 1.5%-2.625% No Annual Fee
1.8 Bank of America Premium Rewards – 1.5%-2.625% – $95 Annual Fee
1.9 SoFi Credit Card – 2%, No Annual Fee
1.10 TD Bank Double Up – 2%, No Annual Fee
1.11 Alliant Visa Platinum Rewards Credit Card – 2%, No Annual Fee
1.12 Citi Doublecash: 2% Cash Back, No Annual Fee
1.13 Wells Fargo Active Cash: 2% Cash Back, No Annual Fee
1.14 Visa Fidelity: 2% Cash Back, No Annual Fee
1.15 Paypal Cashback Mastercard: 2% Cash Back, No Annual Fee
1.16 SDFCU Premium Cash+ Card – 2% Cash Back, No Annual Fee Or Foreign Transaction Fees
1.17 FNBO Cashback – 3% Cashback First Six Months Then 2% [Select States], No Annual Fee
1.18 Discover it Miles 3% Cash Back For First Year, No Annual Fee
1.19 Alliant Cash Back 3% Cash Back First Year, Then 2.5% ($99 AF Waived First Year)
I am in the Chase Ultimate Rewards points ecosystem for the majority of our credit card spending. My return this year is valued at $10,787 which included 4.5 domestic airline tickets, 1 international ticket, 29 Hotel nights, and 6 rental car days.
If you are Amazon Prime, I think the Amazon Visa (issued through Chase) is a good deal.
We use Citi DoubleCash. 2%... 1% when the charge is made and 1% when the payment is made and we have our account on autopay. That would be $3,600 on $180,000 of purchases.
It looks like there are a number of good 2% cards out there now. When we first got the Citi DoubleBack card it was the only 2% card out there.
The Fidelity 2% back on everything card has been around forever. It may have been an American Express at first but changed to Visa many years ago.
These are the cash back rewards cards we use the most:
- Fidelity Visa 2% on everything and no foreign transaction fee
- Amazon Prime store card 5% on all Amazon purchases. (This is different from the Chase card)
- Costco Citi Visa 4% on gas/EV charging, 3% on all dining, hotels and travel, 2% on Costco purchases, no foreign transaction fee
- American Express Blue 6% on grocery purchases up to $6000 a year, 6% on streaming which covers most of our subscriptions plus app purchases. Has annual fee.
- Bank of America 3% on category of choice, ours is online shopping, up to $2500 a quarter. We get a bonus bumping it to 3.75%
I have the same CC and I get 5.25% due to the bump up , are you sure yours is only 3.75%
3% x 1.75 = 5.25%
You must be a higher tier BofA customer than I am.
3% x 1.25 = 3.75%
No idea. I don’t track what I spend vs the points value because points are given at different evaluations. For example if I spend eating out I get 3 points per dollar. If I buy a gift card at an office store I get 5 points per dollar. Then with promotions for groceries etc I get 5 points per dollar. Then by transferring these points to the chase Safire reserve I get 1.5 cents per point so I can make $1 into 7.5 percent return at the worst case.Wow! How much did you have to spend on your Chase credit cards in 2023 to get over $10,000 in rewards?
...AMEX does not recognize our local Walmart Neighborhood Market as a "grocery" store. ...