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+--- Thread: What cash-back credit card do you use? (/showthread.php?tid=119077)
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What cash-back credit card do you use? - Psurfer - 06-22-2011
Chase just announced it's changing my good 5% back on groceries & gas card to a less-good program (w/the 5% merchant categories rotating quarterly, the 5% back now limited to $1500 total purchases per quarter, + need to "activate" the program every quarter, etc...).
Who has the good deal now w/ 5% cash back on groceries, no annual fee, no hoops to jump?
ps. the good news is they sent me a 0% balance transfer offer on that card w/no bal transfer fee, which is a rarity these days, so I'll take advantage of that and stop using it as my daily purchase card anyway.
Re: What cash-back credit card do you use? - M A V I C - 06-22-2011
For business, I've got an amex cash - 5% back on mobile phone service, office supplies, a couple years ago they dropped it to 3% back on gas... 1% on everything else.
Re: What cash-back credit card do you use? - DharmaDog - 06-22-2011
Amex Blue Cash. But it is tiered. I haven't checked recently, but it used to be the first $6500 was only up to 1.5% back, then after that groceries, gas and drugstores are 5% - no limit. Warehouse clubs do not count, however. But there is a Costco Amex that is not tiered like that and only gives up to 3%. I have both cards and use them strategically.
Re: What cash-back credit card do you use? - John B. - 06-22-2011
Target has 5% off everything you purchase at Target with one of their cards. That covers most of my household stuff.
Discover seems to have a promo on increased cash back on a different "class" of business every couple months...one promo period might be gas stations, next time might be restaurants, etc.
Re: What cash-back credit card do you use? - Robert M - 06-22-2011
Psurfer,
The last time I looked, nobody offered a 5% back on just groceries for an undetermined length of time. The best deal going was the Chase Freedom Mastarcard with rotating categories, a Fidelity affiliated Amex Cash back card and a Discover card that offered similar features to the Chase Freedom Mastercard.
Check bankrate.com to see what cards are out there and which is best for you:
Currently, I have a Chase Freedom Mastercard, an Amex Blue Cash Back and a Discover (that is just like the chase card). Each has its purpose and the combination works well for me.
Robert
Re: What cash-back credit card do you use? - Psurfer - 06-22-2011
Chase is changing my card's reward program (2 different cards/programs, actually) to that same Freedom deal. They were fun while they lasted.
Re: What cash-back credit card do you use? - Wailer - 06-22-2011
I use 2% Schwab. Paid every month as cash deposited into your account. No dealing with rebates, checks or gift cards. I love it. I charge everything possible including utility bills, property tax, expenses that are reimbursed by others (and pay it off in full, of course).
It has been discontinued and I keep waiting for the other shoe to drop and for them to cancel it. Fidelity has something similiar so if Schwab kills this card, I'll move over to Fidelity.
I also have a Chase freedom card, but I don't want to think about when I'm earning 5%, etc. I also had problems of items that should have been eligible for the 5% rebate were not classified as so, so I only got 1%. It's too complicated for me to keep thinking about. Same with airline mileage cards. I've had so many miles go unused or had to pay more than I wanted to use them. Just give me cold, hard cash and let me figure out what to spend it on.
I'd consider Target's redcard if I spent more than $2k/yr there.
I remember 25 years ago when the AT&T Universal Card was hot simply because it didn't have an annual fee! Then I remember the first 1% rebate card and the Apple 5% and GM 5%. I had all those.
Re: What cash-back credit card do you use? - Robert M - 06-22-2011
Psurfer,
While you may not like that Chase is changing it, don't be surprised if the new offering is still the best of the current programs. I'd find out if you can choose to keep your existing card rather than change to the new one. Chase may want you to go with the new card but that doesn't necessarily mean you have to go with it. I'd say it's worth a call and I'd do that before anything else.
Robert
Re: What cash-back credit card do you use? - bhaveshp - 06-22-2011
We've got both a Fidelity 2% cash back Amex, and a 2% cash back Schwab Visa (no longer offered).
However, I just signed up for the Amex Blue Cash Preferred. This has a $75 annual fee card (waived first year), and is different from the free Amex Blue Cash.
This one gives back 6% at grocery stores (safeway etc) including gift cards bought there (iTunes, Amazon etc). Also pays back 3% on gas, 3% dining out, and 1% everywhere else.
Based on our spending we'll easily recoup the annual fee and come out ahead of the 2% cards on the specific categories.
Edit - Just to add the Blue Cash Preferred card is not tiered.
Re: What cash-back credit card do you use? - wurm - 06-22-2011
Yep. I went through this same process several months ago http://forums.macresource.com/read.php?1,1112558,1112558#msg-1112558. I ended up just sticking with the Chase Freedom card for pretty much the reasons Robert M. mentioned above. It was the best compromise for the way we use our card(s). The categories change quarterly, and it takes about a minute to "register". I'm not going to not use it just because I'll only get one point rather than three, but if my needs for a particular month align with the selected category that month, then all the better.