The 5% quarterly bonuses are often similar with Chase and Discover and each program requires that the customer sign up for each quarterly benefit. I can’t seem to find the fine print for it to fully understand its benefits and losses. Up until that point, the checks are fractional (because they WANT you to open a Fidelity account); however, a Fidelity account isn’t REQUIRED to take advantage of the 2% base earnings rate… just a little patience, that’s all. The 3% cash back on groceries had previously been unlimited. Take a look at the AMEX Preferred. This card is right for: People who spend a significant amount of money at US supermarkets but who also want to avoid high interest rates on their purchases for their first year as a card member. If your spouse opts for Capital One, if at all possible, carry a different card. Also Read: An alternative to cash back credit cards? They are always “very sorry for my frustration” and give me a “direct number” to call, next time. Read our complete Costco Anywhere Visa credit card review.Learn more about the Costco Anywhere Visa Card by Citi. Citi Hilton HHonors VISA – See above except apply to Hilton hotel family. Why it’s great in one sentence: The Bank of America Cash Rewards credit card allows card holders to select one cash back category — including travel — to earn an increased 3% cash back, but they can change their option on a monthly basis. So to earn the 2,000 points and a $20 cash back reward that they advertise, you would need to spend $200,000 in credit card purchases! Everyone needs one retailer card. Earn 5% cash back on your first $2,000 in combined credit card purchases each quarter on two categories you choose. Our relationship with Pen Fed will soon be over. WorldPoints VISA – Worthless. As for the Penfed 5% Gas cash back CC, you must be a member of their union. You can also get a $50 bonus from those cards as well if you keep you’re eyes peeled for ’em…sometimes even more. There are three different tiers, with Gold members earning a 25% bonus, Platinum members a 50% bonus and Platinum Honors members a 75% bonus. These things can be tricky sometimes, and the CSRs who answer the phone often can’t make it clear for their customers. I use the Amazon Visa for amazon.com purchases in order to earn their 3%. Related: Read CNN Underscored’s list of the best balance transfer credit cards. What we like about the Costco Anywhere Visa: For those looking to fill up their vehicle’s gas tank, the Costco Anywhere Visa offers the most cash back when compared to other top-earning credit cards. So better than pretty much anything else for flat cash back. Hmm, I don’t really understand how it’s possibly not competitive with the Capital One No Hassle. I’m staying clear of any chase card. Since I use amazon a lot it offers 3% on those purchases, which is nice. I’d be open to a higher % of cash back, of course, but I just don’t see that under the Visa brand…. At 5% back I cannot afford NOT to use it. A friend of mine has a US Bank mortgage and then got this card in addition to his US Bank checking account. They did force a change from 1.25% on everyday down to 1% on everyday. Total scam in my opinion… will never do that again. The offer starts with an initial bonus of $250 statement credit … NONE of these cards carry an annual fee. Earn 3% cash back on drugstore purchases. Visit my blog for mostly non-credit-card related rants, except one about Discover Card in 2008 about their lame process of lowering your credit card rates when you ask. What we like about the Ink Business Unlimited: If your business is looking for a simple easy-to-understand cash back card, the Ink Business Unlimited is a great, straightforward option. Thank you for doing the comparison. Grow UP Sally. Local credit unions probably blow this benefit out of the water, but far less flexible in moving money around accounts. Choose "travel" as your 3% cash back bonus category on the Bank of America Cash Rewards card. If you live overseas as a USA citizen and the country you are in uses Amazon, you can purchase international local products. The only shortcomings as I see it are the requirement to have a Fidelity investment account of some type. I make a habit of saving some major purchases for July when my card cycle resets, thus I hit the $6,500 in two billing cycles. Bank of America Preferred Rewards members, which are customers who have at least $20,000 in combined qualifying balances in their Bank of America and/or Merrill investment accounts, can earn an additional 25% to 75% on their rewards earned on the Bank of America Cash Rewards. I shop at costco and get 2% on warehouse spending. Great article; love that it’s current! I feel their advertising is misleading and thought you should check into this to see if you still want to rate their product so highly. Thank you for the advice from all blogs and commentary. I did an analysis on all these cards and that card, although no longer availabe, paid back the most for the normal single consumer, especailly with gas at where it is today. I use the Chase Freedom and the Discover cards for cash back and as presented above the AXP card has a substantially higher tier to receive any cash. It’s the AMEX Blue Cash card which they stopped offering in May/June of 2011. I will even list them alphabetically. Plus, if you’re looking to make a large purchase, you can get an introductory 0% APR on purchases for 15 months. I pay for almost everything with that card and pay off the balance each month to avoid interest. I’m not sure why this editor is on love with the Chase Freedom, There are at least 2 better cards out there. Yes, initial deposit has to be over $2500, but once it’s open, there’s no fee even the balance falls below $2500. Gil: Yes, you do have to open a Fidelity account to take advantage of this offer, but it certainly is not bait and switch. Where it beats our benchmark card: No foreign transaction fees or introductory interest on purchases, and the cash back match in the first year equals the earning rate of the Citi Double Cash for everyday purchases and significantly beats it in the bonus categories. 3. Hopefully an offer like that will come up again. The one thing that wasn’t mentioned in the article (but is important to note) that you don’t have to be a member of any of the organizations or military – they will allow you to join for a $20 donation (which is tax deductible). Correct Way to Pay Off Debt: Debt Avalanche, Day to Day Finance with a Bad Credit Score, Borrowing From and Lending to Friends and Family, How Important Is It to Set Up Beneficiaries, Best Investment News Websites: Stock Investing News & Analysis. Yes, Penfed Visa is a great card. Why it’s great in one sentence: Card holders earn 5% cash back in two categories they select from a list — including options like streaming services — every quarter throughout the year, up to $2,000 in purchases per quarter. I’ve shopped through the Ultimate Rewards Mall and they never gave me the points (I think it was 5% of the purchase sub-total). This month, they reduced their grocery cashback rewards to 1% from 2% (with little-to-no warning) and that was a rather big disappointment (chalk it up to inflation and the Fed’s monetary policies I suppose [is anyone else noticing the crazy prices at the supermarket these days?]). All eligible dining and entertainment … I have been more than happy with BoA. Update: PenFed is offering 2% cashback on supermarkets only until Feb 28, 2011. I’m sorry you didnt have a very good experience. This is a credit card that is giving me 5% back on 2 categories of my choosing each quarter. With roughly a dozen category options to choose from, the 5% cash back categories on the U.S. Bank Cash+ Visa include: Since streaming services are popular these days, you can select this as one of your two options. I have cards with both & I just received notice a couple of weeks ago. The Blue Cash Preferred card dials up the bonus cash back on those two categories, creating a go-to in your wallet for these routine purchases. You may have to reach a certain level before receiving the cash back, but 1% means 1%. Insurance coverage, travel benefits and credit facilities are not my priorities. Pen Fed Platinum cash back now has a $25 annual fee (I’ve had the card for a year and they just sent a notice in the mail). It’s a $15 one-time fee to join Voices for American Troops. Sign-up bonus: Earn a $200 rewards bonus after you apply online and spend $500 in eligible purchases within the first 90 days of account opening. Since joining, I have been using the PenFed VISA Platinum Cashback Rewards Card for nearly 100% of my credit purchases. Under a different category – spending money you actually possess instead of credit: PayPal Debit Card offers 1.5% on all purchases made using ‘credit’ as an option (instead of debit). I took my kids out to eat and the restaurant removed the price of a meal because it contained a foreign object. All rights reserved, Chase Sapphire Preferred Credit Card Review, Citi Dividend Platinum Select Card $100 Cashback Bonus, Visa Black vs American Express Platinum vs Centurion, How to Best Handle Old Credit Card Accounts, Why New Chip Credit Cards Won’t Reduce Fraud, Current and Historical Bank Interest Rates, Alternatives to High-Yield Savings Accounts. I just got off the phone with AMEX. So you might need to drop it from your list. The information for the Discover it Cash Back, U.S. Bank Cash+ and Bank of America Cash Rewards cards has been collected independently by CNN Underscored. Otherwise, you’re essentially paying for those rewards. This qualified him for their platinum checking package. It is lame. Their disadvantage compared to Chase is that the maximum ever benefit is 5%. Can you say corporate greed so the boss gets a bigger Christmas bonus. I recently set up all my recurring monthly bills to be paid automatically with this card. This includes over 20 different providers, such as Disney+, HBO, Netflix, Spotify and YouTube TV, among others. Expert users can convert the cash back to Citi ThankYou travel points at a ratio of 1 cent per point when combined with the Citi Prestige® Card or Citi Premier℠ Card. Wachovia Platinum VISA – Nothing. I wouldn’t regularly be spending much in most of the other categories. At the moment I am using a chase amazon card. Where our benchmark card is better: If you’re solely looking to earn flat-rate cash back on every purchase you make, the Citi Double Cash will earn you more on your everyday purchases. The purchase protection applies to items you buy anywhere, not just at Costco. 59 annual fee waived the first year. 5% cash back on two categories that you choose 2% cash back on gas, groceries or drug stores – choose one 1% cash back on everything else $25 bonus each time you redeem $100 or more cash back in a single redemption. thanks. If a member has a CHASE AARP card, they can cash in their points as one-for-one. While many people like to use their credit card to earn travel points or miles that they can redeem for a once-in-a-lifetime trip, those plans are on hold for many at the moment thanks to the pandemic. Where our benchmark card is better: The Citi Double Cash has an introductory rate on balance transfers. This card is right for: People looking for a card with a great sign-up bonus and who routinely spend money on popular rotating categories — such as groceries, gas stations, ride-sharing, restaurants, Amazon.com and more. I can’t find the HSBC card you’re referring to. Of course, this requires parking a significant amount of money in your Bank of America bank or investment account, but it can pay out extremely well for loyal Bank of America customers. There is definitely something illegal about this tactic. http://www.usbank.com/splash/credit-cards/cashplus/94154.html?redirect=facebookcash, More info: http://www.usbank.com/cashplus. Earn 2% cash back on all Costco and costco.com purchases (other than Costco gas). You cant redeem them 1:1, so its not exactly 5% cash back, but I think it comes out to 2-3% cash back, slightly better than FIA. Try using a cash back credit card. Schwab Visa too … but that card my bill and redeem my rewards the shopping categories you spend than! 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