Author Topic: Cash Back Card Recommendations?  (Read 5278 times)

MilesTeg

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Cash Back Card Recommendations?
« on: February 15, 2017, 12:20:24 PM »
Been browsing for a new card to put all regular expenses/spending on. I see several fairly decent looking cards advertised, but thought I would hit up the MMM crowd who might have some insights.

Desires:
* Card with maximum cash back benefits for me (see spending below)
* Cash back should just be credited to my account; no expiration or having to request disbursement or any other funny business
* Prefer to not have a rotating list of cash back eligible purchases, unless the % is really worth it.
* prefer no annual fee
* couldn't care less about balance transfers
* couldn't care less about APR.

Spending Locales:
* 70-80% of shopping/purchases are from wholesalers (cosco, etc.), major big box stores (target, best buy, etc.), Amazon, and supermarkets (King Soopers, Safeway, etc.)
* Rest of purchases typically come from small local businesses
* Also direct all the bills (utilities, insurance, taxes, etc.) that we can to a credit card and that's actually about 60-70% of what gets put on the card, so any card that does cash back for those types of charges is a major bonus.
* Total card spending/year: ~15k

The most likely candidate I have found so far is: The citi double cash rewards card, which gives 1% on all purchases, and then another 1% when you pay.

Any thoughts?

neo von retorch

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Re: Cash Back Card Recommendations?
« Reply #1 on: February 15, 2017, 12:29:45 PM »
For most of your spending, I think the Citi Double Cash is going to be your best bet.

For Amazon, you'll get 3% with their bank card if you don't have Prime, or 5% if you do.

For non-wholesale grocery, an American Express could be better.
(I believe Blue Cash Everyday is 3% with no annual fee, 2% on gas. I spend enough to justify the Blue Cash Preferred which is 6% on groceries with a $95 annual fee.)
American Express also has offers including "small business" rebates of some sort.
« Last Edit: February 15, 2017, 12:44:05 PM by neo von retorch »

ketchup

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Re: Cash Back Card Recommendations?
« Reply #2 on: February 15, 2017, 12:35:56 PM »
The Chase Amazon Prime card gives 5% back on Amazon, and Amex BlueCash Preferred gives 6% back at grocery stores (but has annual fee of $95 so you'd have to run that against the cashback and how much your spend at grocery stores).  Those on top of a generic 2% back card like the Citi Double Cash would probably be optimal for you.

tarheeldan

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Re: Cash Back Card Recommendations?
« Reply #3 on: February 15, 2017, 12:41:45 PM »
Another vote here for the Citi Doublecash card, since you are looking to use only one card.

There are foreign transaction fees of 3% though, if you travel abroad.

sw1tch

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Re: Cash Back Card Recommendations?
« Reply #4 on: February 15, 2017, 12:48:45 PM »
Another vote here for the Citi Doublecash card, since you are looking to use only one card.

There are foreign transaction fees of 3% though, if you travel abroad.

The Capital One Quicksilver card has no foreign transaction fees if that's of concern.

tarheeldan

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Re: Cash Back Card Recommendations?
« Reply #5 on: February 15, 2017, 12:53:58 PM »
The Capital One Quicksilver card has no foreign transaction fees if that's of concern.

Yes, I have this one also :-) 1.5% cash back instead of 2% but still having one card for US use and one for abroad would still be pretty simple.

frugaliknowit

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Re: Cash Back Card Recommendations?
« Reply #6 on: February 15, 2017, 02:29:02 PM »
The Capital One Quicksilver card has no foreign transaction fees if that's of concern.

Yes, I have this one also :-) 1.5% cash back instead of 2% but still having one card for US use and one for abroad would still be pretty simple.

+1

Citi Double for U.S. and Quicksilver elsewhere:)

MilesTeg

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Re: Cash Back Card Recommendations?
« Reply #7 on: February 15, 2017, 02:29:57 PM »
Thank you all for the great replies. Given than I don't travel internationally (yet), looks like the citi double is a decent choice. Thanks for the input all!

WSUCoug1994

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Re: Cash Back Card Recommendations?
« Reply #8 on: February 15, 2017, 03:19:14 PM »
We use Citi Costco Card with Executive Costco Membership ($110) = 4% cash back (paid in a check annually) on everything at Costco including gas.  We also use that card for Travel (3%) and restaurants (3%).  We use the Red Debit Card at Target (we buy a lot of things at Target especially for the baby) which is 5% taken off at the register.  We use the Amazon Store Card which is 5% credited to your account.  Everything else is Blue Cash from Amex - 1% everything, 5% gas and 5% groceries (grandfathered into the better %'s).  No annual fees for any cards.

I honestly can't believe they offer these %'s.  It is such a great deal.  We save thousands a year.
« Last Edit: February 15, 2017, 03:25:22 PM by WSUCoug1994 »

MilesTeg

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Re: Cash Back Card Recommendations?
« Reply #9 on: February 15, 2017, 03:29:06 PM »
We use Citi Costco Card with Executive Costco Membership = 4% cash back (paid in a check annually) on everything at Costco including gas.  We also use that card for Travel (3%) and restaurants (3%).  We use the Red Debit Card at Target (we buy a lot of things at Target especially for the baby) which is 5% credited to your account.  We use the Amazon Store Card which is 5% credited to your account.  Everything else is Blue Cash from Amex - 1% everything, 5% gas and 5% groceries (grandfathered into the better %'s).  No annual fees for any cards.

I honestly can't believe they offer these %'s.  It is such a great deal.  We save thousands a year.

Typically the reason stores like target can give just a significant discount is, in part, because they are avoiding paying CC companies transaction fees.

WSUCoug1994

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Re: Cash Back Card Recommendations?
« Reply #10 on: February 15, 2017, 03:46:22 PM »
We use Citi Costco Card with Executive Costco Membership = 4% cash back (paid in a check annually) on everything at Costco including gas.  We also use that card for Travel (3%) and restaurants (3%).  We use the Red Debit Card at Target (we buy a lot of things at Target especially for the baby) which is 5% credited to your account.  We use the Amazon Store Card which is 5% credited to your account.  Everything else is Blue Cash from Amex - 1% everything, 5% gas and 5% groceries (grandfathered into the better %'s).  No annual fees for any cards.

I honestly can't believe they offer these %'s.  It is such a great deal.  We save thousands a year.


Typically the reason stores like target can give just a significant discount is, in part, because they are avoiding paying CC companies transaction fees.

And I thank them for it everyday :)

Pizzabrewer

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Re: Cash Back Card Recommendations?
« Reply #11 on: February 15, 2017, 08:59:41 PM »
Discover card.  Sign up now as a new customer and they will double your cash back earned in the first 12 months.

Yes you have to sign up for rotating categories but it is well worth it.  Right now gasoline and wholesale clubs are 5% back (so that's really 10% with the 12-month payment) until April, then it's 5% on home improvement stores and wholesale clubs (so 10% again).

Almost everything else is 1% (so effectively 2% again first year).

tj

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Re: Cash Back Card Recommendations?
« Reply #12 on: February 15, 2017, 09:11:13 PM »
If you're a USAA member in one of the states where they offer the Limitless card, go for that. Can't beat 2.5% cashback. Hope it's sustainable by the time they roll it out in my state.

RWD

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Re: Cash Back Card Recommendations?
« Reply #13 on: February 15, 2017, 09:17:39 PM »
We have the Citi Double Cash card. One thing to remember is it is better not to redeem your cash back as a check or direct deposit instead of statement credit. When you credit it to directly to your statement balance you don't get that portion of 1% cash back that you would otherwise get. So just redeem to your checking account that you pay your credit card with to get the same effect but full cash back.

Math: for $100 spent you get $1 cash back. If you pay down that balance with $99 from your checking plus the $1 credit you'll earn another $0.99 in cash back instead of the full $1. So 1.99% instead of 2%. More annoying than a big deal, but if you want the full 2% you need to pay the full balance from your checking account (or similar external method).

sw1tch

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Re: Cash Back Card Recommendations?
« Reply #14 on: February 16, 2017, 07:26:52 AM »
We have the Citi Double Cash card. One thing to remember is it is better not to redeem your cash back as a check or direct deposit instead of statement credit. When you credit it to directly to your statement balance you don't get that portion of 1% cash back that you would otherwise get. So just redeem to your checking account that you pay your credit card with to get the same effect but full cash back.

Math: for $100 spent you get $1 cash back. If you pay down that balance with $99 from your checking plus the $1 credit you'll earn another $0.99 in cash back instead of the full $1. So 1.99% instead of 2%. More annoying than a big deal, but if you want the full 2% you need to pay the full balance from your checking account (or similar external method).

Yes, this is what I do.  My checking account also gains a little bit of interest, so I prefer the direct deposit instead of applying a credit statement.