Best Current Cash Back Card?

Discussion in 'Other Credit Card Programs' started by gleff, Feb 10, 2011.  |  Print Topic

  1. gleff
    Original Member

    gleff Co-founder

    Messages:
    3,616
    Likes Received:
    6,793
    Status Points:
    4,670
    If I understand correctly, the Schwab and Fidelity 2% cards are no longer available.

    There's a Bank of America 2% card but that's only by invitation.

    What's the best generally-available cash back card out there these days, besides teaser offers like the 6-month 5% offer from Chase?

    Thanks!
     
    miles and smiles likes this.
  2. Wanaflyforless
    Original Member

    Wanaflyforless Silver Member

    Messages:
    34
    Likes Received:
    79
    Status Points:
    180
    Are these 2% Fidelity cards really dead?

    They look alive to me?

    http://personal.fidelity.com/products/checking/content/investment_rewards_card.shtml.cvsr

    https://www.applyonlinenow.com/USCCapp/Ctl/entry?sc=UABIUN

    http://personal.fidelity.com/misc/buffers/retirement-rewards-card.shtml.cvsr

    https://wwwa.applyonlinenow.com/USCCapp/Ctl/entry?sc=UABIQU
     
    miles and smiles and gleff like this.
  3. wanderlust
    Original Member

    wanderlust Silver Member

    Messages:
    230
    Likes Received:
    347
    Status Points:
    495
    The Fidelity card is still available. As is a 1.5% VISA option.

    My favorite "pure" cashback card, especially for Costco shoppers, is the Costco TrueEarnings AMEX.
    • Earn 3% cash back on annual gasoline purchases up to $3,000 then 1% after that. Plus, earn 3% cash back for dining out, 2% when you travel, and 1% everywhere else, including Costco.
    • No annual fee w/ Costco membership. Basically is your Costco card.
    I also think the Chase Freedom is good, if you have a Chase bank account.
    • 1% cashback, redeemable once you've accrued 2000+ points (2000 points = $20.00)
    • Bonus 10 points (10 cents) per purchase if you have a Chase bank account. (Meaning, if you buy a 1.00 coffee, you'll get 1% cashback + 10 cents, or 11 cents total). Great for small purchases, esp. under $5.
    • If you have a bank account, you also get a 10% bonus to cashback, making it essentially 1.1% + 10 cents every purchase.
    • Has an "Ultimate Rewards Mall," where you can earn extra cashback at most retailers online, at a pretty good rate.
    • 5% cashback (with a fairly low cap unfortunately) in rotating quarterly categories.
     
  4. was actually just approved for the fidelity card. when you apply make sure you chose the investment rewards card, not the retirement or 529 card!
     
    miles and smiles likes this.
  5. FlashBack
    Original Member

    FlashBack Silver Member

    Messages:
    165
    Likes Received:
    67
    Status Points:
    250
    The Fidelity 2% is still available as already pointed out.

    You might be able to find a BOA 2% code that someone is not using. Also this actually a 2.5% card. When you redeem 300 or more you receive a 25% bonus on the amount redeemed.

    As far as the Chase 5% teaser card, there is no better readily available card out there. Anyone remember the Citi CR 5% card and it was only for three months? I would post what I made of that card but you would not believe it. Hell I am the one who got the rewards and I still don’t believe it!!! :)
     
    miles and smiles likes this.
  6. I use a Chase card for everything under $5, and in quarters like this one where I care about the 5% category. My effective return is well over 4%. I use the rewards to pay off some of the 5% purchases using Pay Yourself Back.
     
    miles and smiles likes this.
  7. Fredd
    Original Member

    Fredd Gold Member

    Messages:
    1,167
    Likes Received:
    3,181
    Status Points:
    1,970
    We've had it for several years now and it works for us. We've stopped using it for foreign travel though because we've just picked up two cards, Capital One and IC Visas, with no foreign exchange fees.
     
    miles and smiles likes this.
  8. Grace
    Original Member

    Grace Silver Member

    Messages:
    309
    Likes Received:
    389
    Status Points:
    500
    And for those out there who like photo cards it's the only photo card from AMEX besides that new prepaid one.
    I like my costco amex, but i just got a CLI on my Surpass so i'm putting my focus back on hiltons.
     
    miles and smiles likes this.
  9. PoorMansBidet
    Original Member

    PoorMansBidet Silver Member

    Messages:
    43
    Likes Received:
    35
    Status Points:
    130
    Isn't it annoying that the costco card only pays you on your anniversary? That is the main thing that has deterred me from this card.
     
    miles and smiles likes this.
  10. goodandclassy
    Original Member

    goodandclassy Silver Member

    Messages:
    181
    Likes Received:
    291
    Status Points:
    470
    I believe it was all in February? IMy card anniversary is in May, checks have come in Feb. I wonder if it has to deal with accounting year-end... :D

    i've found costco and chase freedom w/ checking account (as mentioned before) to be consistently good, bonuses and special promotions aside...
     
    miles and smiles likes this.
  11. What cards are these? Any web links?
     
    miles and smiles likes this.
  12. Fredd
    Original Member

    Fredd Gold Member

    Messages:
    1,167
    Likes Received:
    3,181
    Status Points:
    1,970
    You could try this for a start.
     
  13. DeacFlyer1
    Original Member

    DeacFlyer1 Silver Member

    Messages:
    807
    Likes Received:
    718
    Status Points:
    675
    I have a Chase BP Visa, and have had it for about 4 years now. It gets 5% cash back at BP gas stations, 2% on travel (so airline tickets, rental cars, hotels, etc) as well as all restaurants, and 1% on everything else. No annual fee, and I believe you can still apply, just grab an application at the pump the next time you're at a BP gas station!

    The real value I've gotten out of it is the 2% travel...between my wife and I, we've received checks for over $1,000 from Chase each of the past few years because of putting a good bit of our business travel spending on this card (mainly hotels), plus the restaurant spend as well.

    It sounds like though that the Coscto AMEX might be a slightly better bet if you get 3% at restaurants (assuming the 2% for travel includes the same categories of hotels, rental cars, plane tickets, etc that the BP visa does).
     
    miles and smiles likes this.
  14. Trout Fishing in America
    Original Member

    Trout Fishing in America Silver Member

    Messages:
    47
    Likes Received:
    38
    Status Points:
    165
    If you only have 1 credit card, I would propose that it needs to be Visa/MC. You can only do so well with this approach. The best card is probably Chase Freedom in the rotating variety and, I suppose, C1 Venture if you prefer a flat rate.

    If you add in Amex and Discover, you have a little more flexibility. In that situation, if you could only have 2 cards, you are probably best of with the Costco Amex (with Fidelity Amex or even Amex Blue Cash as other options) and a backup visa (probably the same as above).

    If you don't mind doing the "swiss army knife" approach, I think you will almost always be better suited with multiple cards. In that situation, you can add in the PenFed Rewards Visa for gas purchases and the Citi Forward Visa for dining, Amazon, etc. Again, then you would supplement with the aforementioned cards, with some changes (for example, if you have both PenFed Rewards and Citi Forward, you probably won't do as well with the Costco Amex or even Amex Blue Cash because some of the purchases that would boost your return-- particularly on the Blue Cash-- would be shifted to the new cards).

    Your personal situation, goals, and willingness to jump through hoops may throw all of this out of the window.
     
    miles and smiles likes this.
  15. harvson3

    harvson3 Silver Member

    Messages:
    679
    Likes Received:
    1,693
    Status Points:
    960
    On the Swiss Army Knife approach...

    I would be remiss not to mention the new Amex Blue Cash Preferred. I'll use it exclusively as a grocery store card (hello Wegmans and Trader Joe's!) and get 6% cash back. I don't know how any card that gives as good of a rate, though some 5%ers come close. We did the math and found that the annual fee of $75 is paid when you spend $1250 on groceries, and the Preferred Card is better than the no-fee version after $2500 of groceries.

    At the moment, you can also find a current card holder and they could get a $75 bonus for referrals....
     
    miles and smiles likes this.
  16. miles and smiles
    Original Member

    miles and smiles Gold Member

    Messages:
    17,531
    Likes Received:
    61,942
    Status Points:
    20,020
    Thanks for posting this. I just got approved! Now that I have lots of miles and points in my hotel/airline accounts, this is the perfect card for me. Using it at groceries, gas stations and department stores, I will save a lot of money. The 6% cash back on groceries (plus some places give me 5% senior discount!) is fantastic.
     
  17. Trout Fishing in America
    Original Member

    Trout Fishing in America Silver Member

    Messages:
    47
    Likes Received:
    38
    Status Points:
    165
    The new Blue Cash cards (that either came out just after my first post in this thread-- or, at least, that's when I learned about them) are great. I haven't done the math, but my gut feeling is that most people will do better with the new versions of the card then they would have under the old two-tiered card. Plus, the system is easier to understand. I don't know if I've ever seen a card offer more than 5% for anything before.
     
    miles and smiles likes this.
  18. miles and smiles
    Original Member

    miles and smiles Gold Member

    Messages:
    17,531
    Likes Received:
    61,942
    Status Points:
    20,020
    Earliest info I've found on the new Blue Cash cards is that they came out in this new form on April 26, right around the time of your previous post.
     

Share This Page