2% credit card?

[kranky]

Amex Blue Cash Preferred - 6% on groceries year round, 3% gas year round, 3% dept stores year round, 1% everything else

Target card: 5% off at Target.

Chase Freedom & Discover More - 5% rotating categories, 1% everything else.

I did the math a couple years ago and figured I was averaging a little more than 3% back overall, which adds up to a lot of money. The only thing I buy that I don't use CC's for is Mortgage payment and water bill.

I stopped recommending that great card because people reflexively refuse to pay an annual fee. I pay it (as you do), and it's well worth it if you can grind on the 6% cashback on groceries (limited to $6k of groceries/year). That alone is $360 cash back, and net $285 after the annual fee. The 3% on department stores is icing on the cake for me. Heck, I can get back the annual fee cost just on the special offers I pick up on the Amex website which is on top of the cashback from purchases.

There's a no-fee version of that card that pays 3% on groceries, but then the most you could net on grocery cashback is $180.

 

[s0me0nesmind1]

I stopped recommending that great card because people reflexively refuse to pay an annual fee. I pay it (as you do), and it's well worth it if you can grind on the 6% cashback on groceries (limited to $6k of groceries/year). That alone is $360 cash back, and net $285 after the annual fee. The 3% on department stores is icing on the cake for me. Heck, I can get back the annual fee cost just on the special offers I pick up on the Amex website which is on top of the cashback from purchases.

There's a no-fee version of that card that pays 3% on groceries, but then the most you could net on grocery cashback is $180.

I don't see the use for it yet. Between occasionally buying food/drink/groceries at Target/Walmart (which don't count, right?), I just don't have that much in expenses for groceries to make it worth it.

I'm awaiting my first kid which will be in the next couple years....... You don't need to tell me that it will be worth it then

 

[jdoggg12]

I have a AAA Platinum Visa with a fixed 9.9% rate and 5% cash back on gas, no limit. God I love that card!! Contact your local AAA branch and see what/if they offer anything. My record (lots of traveling and paid it off before interest hit) was $150 in rebates over the course of 4 months!

The "catch" is that you have to make 1.5x in non-gas purchases in order for the monthly rebate to take effect. It's not hard, I buy groceries with it then pay it off each week.

 

[Art&Science]

No mention of QuickSilver from Capitol One? I have this one. I also have the Amex Blue Cash Preferred.

 

[AznAnarchy99]

I don't see the use for it yet. Between occasionally buying food/drink/groceries at Target/Walmart (which don't count, right?), I just don't have that much in expenses for groceries to make it worth it.

I'm awaiting my first kid which will be in the next couple years....... You don't need to tell me that it will be worth it then

I was thinking the same. The 6% CB on groceries doesn't count at warehouse stores like CostCo or Sam's and I probably spend less than $100 a month at a traditional grocery store.

 

[uhohs]

5% gas? you can go with penfed or the sallie mae card(up to $250 a month in purchases)

 

[ElFenix]

I don't see the use for it yet. Between occasionally buying food/drink/groceries at Target/Walmart (which don't count, right?), I just don't have that much in expenses for groceries to make it worth it.

I'm awaiting my first kid which will be in the next couple years....... You don't need to tell me that it will be worth it then

target counted as grocery on my boa 1-2-3 card as of a few months ago. haven't examined to see lately.

 

[Train]

I stopped recommending that great card because people reflexively refuse to pay an annual fee. I pay it (as you do), and it's well worth it if you can grind on the 6% cashback on groceries (limited to $6k of groceries/year). That alone is $360 cash back, and net $285 after the annual fee. The 3% on department stores is icing on the cake for me. Heck, I can get back the annual fee cost just on the special offers I pick up on the Amex website which is on top of the cashback from purchases.

There's a no-fee version of that card that pays 3% on groceries, but then the most you could net on grocery cashback is $180.

If you wait for the right promotion you can get cash just for signing up. I got $150, so basically the first 2 yeas were free.

Got $300 for signing up for Chase Freedom.

 

[kranky]

I don't see the use for it yet. Between occasionally buying food/drink/groceries at Target/Walmart (which don't count, right?), I just don't have that much in expenses for groceries to make it worth it.

I'm awaiting my first kid which will be in the next couple years....... You don't need to tell me that it will be worth it then

Does your grocery store carry gift cards for places you shop? You'd earn 6% on those too.

 

[Train]

Does your grocery store carry gift cards for places you shop? You'd earn 6% on those too.

Ya that's pretty much why Amex added the $1500/qtr limit. Was too easy buying up GC's for Amazon, Lowe's, and restaurants.

With wife and 3 kids, I now spend over $500/month on groceries anyways. No need to pick up GC's anymore.

 

[Muse]

No mention of QuickSilver from Capitol One? I have this one. I also have the Amex Blue Cash Preferred.

I have that, think I mentioned it in the OP. At the time (almost a year ago) it looked like the best at 1.5% for everything, no rotating categories or restrictions. But nowadays, like I said in the OP, according to an article I read you should demand 2%.

 

[RossMAN]

Have you checked our kranky's suggestion?

http://www.citi.com/doublecash

How this card compares to the competition.

No annual fee
1% when you buy + 1% when you pay = 2%
Citi shopping benefits including price rewind and virtual account number and more.

Virtual account numbers are pretty bad ass, it generates random cc which protects your real credit card number which is useful when dealing with a shady internet merchant (Rakuten.com), magazine subscriptions, trial subscriptions or if you're generally paranoid.

 

[Muse]

Just found this thread with a lot of details about some choice cards:

Top 7 Credit Card Offers For Those With Excellent Credit

 

[Muse]

Chase freedom caps at $1500. Thereafter 1%. Chase Sapphire is more interesting for the sign-on bonus ($450 value).

For groceries look at Amex Blue Cash. 6% on groceries up to $6000/pa

Blue Cash Preferred® Card from American Express

Says "supermarkets" not "groceries"

I'm wondering if they'd honor, say, Trader Joe's.

The Blue Cash Everyday® Card from American Express says 3%, it's the "Preferred®" that says 6%.

 

[Xonim]

Blue Cash Preferred® Card from American Express

Says "supermarkets" not "groceries"

I'm wondering if they'd honor, say, Trader Joe's.

The Blue Cash Everyday® Card from American Express says 3%, it's the "Preferred®" that says 6%.

Yes, TJ's counts for the 6% back with the Blue Cash Preferred (or 3% with the Blue Cash Everyday)..

 

[NoCreativity]

Yes, TJ's counts for the 6% back with the Blue Cash Preferred (or 3% with the Blue Cash Everyday)..

Hmm. Might have to get in on this. Could use it to buy gift cards at Kroger for stores in other categories which would rack up fuel points and save me some money on gas as well.

 

[trmiv]

I was using the Amex Blue Cash Preferred, but I got tired of the fee and it not being accepted everywhere and trying to figure out what counted towards what, so I switched to the Citi Double Cash. Super simple. 1% for purchases, 1% for paying off.

I PC'd the Blue Cash Preferred to a Blue Cash Everyday and use it for big purchases where I want the extended warranty. I've been tempted to start rotating cards with the 5%, but I hate keeping track of it all, so I haven't bothered. With the Double Cash, it's simple.

 

[s0me0nesmind1]

I was using the Amex Blue Cash Preferred, but I got tired of the fee and it not being accepted everywhere and trying to figure out what counted towards what, so I switched to the Citi Double Cash. Super simple. 1% for purchases, 1% for paying off.

I PC'd the Blue Cash Preferred to a Blue Cash Everyday and use it for big purchases where I want the extended warranty. I've been tempted to start rotating cards with the 5%, but I hate keeping track of it all, so I haven't bothered. With the Double Cash, it's simple.

Get a label maker and put labels on the 5% category cards. It isn't hard. If you can't handle labels than you have bigger problems.

 

[Bock]

Have your guys ever tried calling the CC companies and asking for a lower interest rate?
If your maxed out, ofc they will say no but if it's paid off or close, you will actually get a much lower rate.

 

[tontod]

I have a AAA Platinum Visa with a fixed 9.9% rate and 5% cash back on gas, no limit. God I love that card!! Contact your local AAA branch and see what/if they offer anything. My record (lots of traveling and paid it off before interest hit) was $150 in rebates over the course of 4 months!

The "catch" is that you have to make 1.5x in non-gas purchases in order for the monthly rebate to take effect. It's not hard, I buy groceries with it then pay it off each week.

I checked and it just has this:

DOUBLE POINTS for gas, grocery and drug store purchases.

Not worth it to me since I already have the Citi DC and the FIA. A 5x CB on gas would have been nice.

 

[DaWhim]

yea, that's what I use, capital one spark business card, 2% on everything, but has $60 annual fee. It is well worth it. the other one is amex SPG. i like earning hotel points.

 

[trmiv]

Get a label maker and put labels on the 5% category cards. It isn't hard. If you can't handle labels than you have bigger problems.

I'd rather not deal with it. And I'd rather pay only one bill. I originally got into paying everything with a credit card to simplify my finances, not make it more difficult. The cash back is a bonus. I'm to the point I only have three payments to make a month. One Credit card, mortgage, insurance. Everything else auto pays to the card.

 

[AznAnarchy99]

Have your guys ever tried calling the CC companies and asking for a lower interest rate?
If your maxed out, ofc they will say no but if it's paid off or close, you will actually get a much lower rate.

I rarely carry a balance anymore but Amex has given lower promotional rates without asking. I'm at a promo 9% APR right now on my CostCo card.

 

[xSauronx]

I'd rather not deal with it. And I'd rather pay only one bill. I originally got into paying everything with a credit card to simplify my finances, not make it more difficult. The cash back is a bonus. I'm to the point I only have three payments to make a month. One Credit card, mortgage, insurance. Everything else auto pays to the card.

i feel the same way, thats why i use the citi 2% anywhere i go
i have the chase amazon that just gets use as my default for amazon though

a friend uses him amex and the amazon anywhere that wont take amex.

 

[Svnla]

I also use the Blue Cash American Express card. It gives you 5% cash back on groceries and drug stores up to $50K after you spend $6.5K. No annual fee. Not too shabby.

I do not like BoA or Chase and other cards with low limit of cash back of $1.5K per quarter. I want high limit or no limit cards. Easy money.

Some people nitpick the Citi Double Cash because if you take your cashback as a statement credit, that doesn't earn 1% like a regular payment would, so your effective cashback is a hair less than 2%.

That's why I cash out all of my cash back from Citi 2% card into my checking account and then pay the whole balance in full from said checking account to get the full 2%.