You dont have to manage that share savings account, you just have to make sure you keep at least $5 in that account as per PEnfed’s membership requirement. I am more interested in these introductory offers than continuing terms. That’s an unbelievable sign-up bonus for a card that has no annual fee. 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. Schwas unfortunately got rid of the 2% cash back card about 18 months ago. I always pay off my balance in full on each billing period date. Are you calling me stupid? Yes, there is a $65 fee for the spark card after a year however, and my experience with capital one is that they’ll change the program eventually and somehow make it not as good. Each month I evaluate the current offers — in fact it’s updated on a more than monthly basis. Earn 4% cash back on eligible gas purchases worldwide, including Costco gas (capped at the first $7,000 in purchases per year, then 1% thereafter). Best for Everyday Cash Back: Citi® Double Cash. All Rights Reserved. I’m low income, so that wouldn’t apply to me unless I was spending way more than I could afford. If your spouse opts for Capital One, if at all possible, carry a different card. 2. Here we go. This means those rotating bonus categories are worth 10% in the first year, and all your purchases outside of the bonus categories earn a solid 2% return the first year. They also allow you to use the points for gasoline cards etc… A room rate of $80 costs 8,000 points/cents OKAY, but to purchase a $50 gas exchange requires 16,000 points/cents or $160 worth of points. 5.0 Apply Now. They seem to me to have the best cash back program as they have no tier and the give the maximum or 8% on selected quarterly promotions 1% + 2% + 5% = 8%. Which cards would be best “longterm” once the signing bonuses have been used? You can read more about our benchmark credit card concept in our credit card methodology guide or dig into our complete review of the Citi Double Cash. I use the Amazon Visa for purchases in order to earn their 3%. If you’re able to max out the bonus on a quarterly basis on the 3% cash back categories alone, you’ll earn you an extra $75 every quarter. I have the older Fidelity 529 MasterCard, 2% into the kid’s college account. Chase rewards for the rest – 3% back on Groceries, Gas & pharmacy – 1% everywhere else. It looks promising, but I wanted to see if anyone out there as had any experience with this card. Earn 5% cash back on your first $2,000 in combined credit card purchases each quarter on two categories you choose. Yes, I get a new travel card for this every 6 months and you really need to find a ‘good’ deal at the time you are looking. Capital One has created a joint account with two numbers so that bills are pre-divided by purchaser. Thus, for instance, a more hotel emphasized bonus might be more valuable to you than a flights emphasized bonus, etc. We profile them all the time on our blog because they’re one of our favorites. Its a great card and iv told all my friends about this one! This is a credit card that is giving me 5% back on 2 categories of my choosing each quarter. In reality you’re probably somewhere in between. categories aren’t in perfect alignment with other cards using the “Category Rotation” methods. I think I’d earn more cash back with a steady 2% groceries all year. My PenFed VISA Platinum Cashback Rewards Card has its cycles tied to the month (e.g. 2% on dining and travel, 1% on everything else, excluding online purchases. This card is right for: People who want maximum flexibility in a no-annual-fee credit card. Verification email has been resent. It is my “workhouse card”. Success! For someone like myself, who’s essentially only spending money on groceries and very little else, it doesn’t help much to only have that a few months out of the year. In other words, for every $2,500 you spend, you’ll get $50. I have the Chase Freedom as well, but only use when some place doesn’t take Amex. And while the Blue Cash Preferred Card by American Express earns slightly more cash back for US streaming services, it comes with a $95 annual fee, which you won’t have to worry about with the U.S. Bank Cash+ Visa. We spent a good bit of time and several phone calls to the card issuer and discovered some information that we are not sure that you are aware of. Sign-up bonus: Receive a match of all cash back earned at the end of your first year. Your *result* is 2% cash back. I have had extremely bad experiences with PNC Cash Rewards redemption. Cash back is earned only on eligible purchases in the following categories: You don’t need to enroll in any rotating categories which is typical of other credit cards that have high earnings categories. And as far as I know, Citi and Discover only do that on a rotating basis. Finder’s credit card experts spent more than 400 hours reviewing and comparing each rewards credit cards … Honestly, i think people have to price around or shop around to get the most cash back bonuses ontop of whatever your card gives you for regular purchases (ie. I have had this card for just over a year now and have close to $500 cash back. No e-mail balance/bill/activity alerts. Just last year I pooled my cash back rewards for Christmas presents which helped to offset much of the costs. For museum lovers, this allows you to visit different museums in your city or while traveling for absolutely no cost. Big limit and low interest for a bad pinch. If you choose to redeem for cash back, 1 point equals $0.01 cash back. It does not work and has not for the four years I have had the card. I have used it exclusively to get consistent 2% back every month for the last year. With the Capital One® Quicksilver® Cash Rewards Credit Card, you earn 1.5% on all purchases. 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. Quick note. do you have a link to this offering? This can be a downside if you routinely make a large number of purchases in a particular category. I have a 2% rebate, no annual fee HSBC card that is capped at $400 back per year. The only thing HSBC offers is the first 6 months at 2%, afterwards it falls to 1%. The Blue Cash Preferred also comes with a solid return protection policy, which can come in handy during the upcoming holiday season. Using the Chase Freedom Visa first, when specific categories are in rotation. This qualified him for their platinum checking package. These things can be tricky sometimes, and the CSRs who answer the phone often can’t make it clear for their customers. What Happens If Your Bank Account Is Hacked? I just got one and got screwed! Chase Freedom and Capital One Quicksilver are my favs! 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, and more. As long as you use your Chase Freedom Flex to pay your monthly cell phone bill, you’ll be covered against theft or damage to your phone, up to $800 per claim and $1,000 per year, with a $50 deductible per claim and a maximum of two claims in a 12-month period. Lastly i got the Chase Freedom Card where i will get back $150 after my first $500 in purchases. When you pair the Freedom Unlimited with a premium Chase Ultimate Rewards credit card, such as the Chase Sapphire Preferred or Chase Sapphire Reserve, you can convert your cash back to travel points at a rate of 1 cent per point. I then use the cash back to save 10-20% on gift cards. In addition to a great cash back rewards program, new card holders can also take advantage of a 0% introductory interest on all purchases and balance transfers for the first 14 months, though the rate increases to a variable 11.99% to 2.99% at the end of the 14-month period. It makes a lot more sense to earn 2% cash back paying with that than it does paying straight out of my checking account. The Chase card at 5% looks worth the effort if you have the patience to track what card to use when and where. No need to opt and no rotating categories. From Capital One site: Rewards 2% cash back on purchases at gas stations and major grocery stores. One thing that could be better: You won’t want to use the Ink Business Unlimited on overseas purchases, as it charges a 3% foreign transaction fee. If you are single, refuse to do business with Capital One to show your solidarity with other women. We bought a lottery subscription online and they coded it as cash advance. (no word on when or if they will re-open; but, this isn’t the first time they’ve closed sign-ups) You can only sign up for their non-rewards cards. With the U.S. Bank Cash+ Visa, you’ll also earn 5% cash back on up to $2,000 in purchases in your two chosen categories during each quarter, where other similar cards cap your cash back at $1,500 during the same time frame. Discover also gives the best rewards use options: $20 rewards gets you a $25 LLBean card. Learn more about the Blue Cash Preferred Card from American Express. com – it tries to calculate the best card and best combinations of cards for your normal spending. Fidelity American Express Investment Rewards Card. They cut that back before changing to the Freedom card. This amazing flexibility is why CNN Underscored’s partner The Points Guy values Ultimate Rewards points at 2 cents apiece. Spend $10,000, earn 20,000 points (2 points for every dollar). Sign-up bonus: Earn $200 bonus cash back after you spend $500 on purchases in the first three months after opening the account, plus 5% cash back on grocery store purchases (not including Target or Walmart) on up to $12,000 spent in the first year after opening the account. Here’s how they work: Every time you use them to make eligible purchases, you’ll get cash back you can use for just about anything. For a family that spends alot on groceries that 6% could make a huge difference. It is lame. Thanks for the feedback; I don’t see it on your list, so I’ll Google it. Related: Tight on cash? You can also get a $50 bonus from those cards as well if you keep you’re eyes peeled for ’em…sometimes even more. After about 20-30 minutes, you can redeem them on the phone. Then falling back on 1% from either card. I have cards with both & I just received notice a couple of weeks ago. Where it beats our benchmark card: Sign-up bonus, bonus categories, an introductory offer on purchases and complimentary museum access. Earn 2% cash back on all Costco and purchases (other than Costco gas). Learn more about the Citi Double Cash Card. My card is the best. That’s right: Capital One decides what tip is appropriate and notifies your spouse if you surpass that amount. Where it beats our benchmark card: Sign-up bonus, category bonuses and cell phone protection. Alternately, you can price around if you are a Frequent Flyer Miles junkie; some airlines gives 10 miles per $ you spend by shopping from the airline’s webmall site, and you’ll get your normal cashback % from your card issuer. You’re better off with a straight 2% cashback card like the Fidelity Amex. You can auto-pay a fixed amount or manually pay the balance at a date in the future. Experts will enjoy pairing this card with one of the premium Citi ThankYou credit cards, such as the Citi Premier or Citi Prestige. As long as you used your Blue Cash Preferred to pay for it, American Express will refund the full purchase price (excluding shipping and handling). Cash back earned with the Chase Freedom Unlimited can also be used as points for travel, and at a greater value. I pay for almost everything with that card and pay off the balance each month to avoid interest. I have this card, and I like it so far. Since I use amazon a lot it offers 3% on those purchases, which is nice. So you get 5 pts for every amazon purchase. I will cancel my B of A switchover asap now that Schwab/FIA is gone – it looks like CapitalOne’s Cashback MasterCard with 0% annual fee & 50% cash back bonus every year, 1% cash back on purchases, plus earn a one-time $100 bonus will be best for me, doing the math with the amount I put onto a card, will come out to be pretty much equivalent to the 2% cash back I got with Schwab/FIA. Thanks for the advice! It’s 1% before you reach $10k in purchases. Might be a different feature idea. Pen Fed is changing the Platinum Cash Rewards card which is why I was on this site. These credit cards charge 0% interest on purchases. I’ll add a note about the new card. CNN Underscored is your guide to the everyday products and services that help you live a smarter, simpler and more fulfilling life. All I wanted to find out was why they coded it cash advance and not a merchandise purchase. Why did we select these cards as our best cash back credit cards for 2020? For one, I saw DiscoverCard give 5% bonus + whatever tier level you are in; Chase gave 3% +1%regular cashback; BankofAmerica gave 3%. A friend of mine has a US Bank mortgage and then got this card in addition to his US Bank checking account. Fidelity does have some low-cost investment options, and you could likely just use a money market account/fund for collecting your 2% savings. 1%). Just want to say Chase freedom no longer offers 200 signup bonus. Chase Freedom MC – I utilize the 5% on the revolving promotions up to $1500. I buy everything on my credit card then pay it off at the end of the month… Then whoa! Plus, realistically speaking since they rotate, you’re really only averaging 1.25% on an annual basis, which is not impressive at all. Anyone aware of this card? Good Luck., More info: So as you described, you earned 4% cash back for shopping in addition to the 1% built-in cash back. thanks. You get a full 5% if all your spending is on 5 point purchases and you get a $100 gift card – however, not all the gift cards are available for the $100, best value option. Flash your Bank of America Cash Rewards credit card at a participating museum and you’ll receive complimentary general admission to more than 225 cultural institutions across the United States on the first full weekend of every month. My favorite card was formerly the chase 5% card but I hate the rotating categories and am searching online for a replacement. CNN Underscored’s comprehensive credit card methodology compares every aspect of each cash back credit card to our “benchmark credit card” to determine which cards can potentially earn you the most cash. Can you say corporate greed so the boss gets a bigger Christmas bonus. Sounds okay, still not as good as having 2%, god i still have my FIA card but knowing that i will be losing the 2% end of october, i already miss the card!!! 59 annual fee waived the first year. Use Chase Freedom and Discover for their 5% categories (Discover has one month grocery ones too) 2. Citi Double Cash looks like a great card. It lets you choose up to two rotating categories every quarter. You may have to reach a certain level before receiving the cash back, but 1% means 1%. Why this is one of the best cash back credit cards: The Amazon Rewards Visa Signature Card is a cash back rewards credit card designed for frequent shoppers of and Whole Foods Market. I will even list them alphabetically. I have been diligent to maintain superb credit (has taken a bit of a hit lately with the three new cards and other hard hits). I like to keep track of when my credit cards close and the new billing period begins. Charge everything I can on credit cards, pay off balance each month. Last year on my Freedom card, I averaged 2.9% cash back between the rotating 3% and bonus 5% and a significant amount of shopping through their rewards shopping site, accompanied by only cashing in for the $250 checks. Dosh cash back app review. Your math is incorrect. Thank you for doing the comparison. If you already have one, that works out well. Why this is one of the best 5% cash back credit cards: If you’re looking for a rewards card with 5% cash back in rotating bonus categories each quarter you activate, this is a good choice. It is cut half to $100. The AmEx Costco TruEarnings card could be a good option if you shop at Costco stores, free for Costco members. So, if you want Capital One its nose into your private business, stirring up sh!t in your marriage, encouraging male spouses to be even more controlling, then Capital One is for you. In other words, this card is a great choice if you’re after a simple cash back rewards program. This card is still good for 5% categories like restaurants, cell phone bills, and various categories of retail. I have been using the Blue Cash card for a few years now. My average total monthly credit card purchases is $1,500.00. while I might be getting only 2% cash back for gas or restaurants, I’m getting 2% for everything else as well. On top of that, all the cash back you earn on the Discover it Cash Back will be matched at the end of the first year for new card holders, making this an ideal card to have if you know you’ll be spending a lot on your credit card over the next year. Take a look at the AMEX Preferred. Penfed is a credit union and are therefore goverened by the National Credit Union Association which requires membership into the credit union and a share savings account with at least $5 deposited into it in order to take advantage of any of thier banking products such as credit cards, checking account, mortgage loans, car loan, etc. When you make a purchase, we receive revenue. 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). Where our benchmark card is better: After the first year when the cash back match bonus ends, the Citi Double Cash earns a higher return on everyday purchases. You can redeem your points monthly to your account and withdraw them from your account whenever you like. Another great benefit to this card is they pay you your cash back each month as a credit to your account statement. That includes looking at spending in bonus categories and looking at the fine print for spending maximums. Why not one of the AMEX Blue Cash cards? We use the card for all of our everyday expenses and pay it off each month, so the rewards have FAR outweighed the cost to join. The offer starts with an initial bonus of $250 statement credit … Also of note, PenFed offers incredible loan deals that you often won’t find anywhere else. But in addition to those three fixed bonus categories, the card also offers a set of 5% bonus categories that rotate each quarter. By subscribing, you agree to our privacy policy. Cashback credit cards are one of the hottest trends amongst the customers. I do well with: Discover and Chase Freedom for only the quarterly categories, 5%. You will receive the $300 back in the form of statement credits. Aside from the bonus categories, this card also comes with many unique benefits that differ from most other Chase cards. 0% interest on all purchases for the first 14 months (11.99% to 22.99% variable afterward). Even better, once you’ve converted the cash back to points, you can transfer them to any of Chase’s 13 airline and hotel loyalty partners. Cap One Spark is good for the $500, but I’d cancel after getting the cash. Related: Amex Blue Cash Preferred vs. Amex Blue Cash Everyday. Probably a stupid question given all the information that has been provided, but I’m still in a quandry. Then check out our list of the best cash back credit cards to decide which one will best fit your needs. Side. After all, getting cash back might not yield as many rewards like free flights and hotels. You can contact thier member service department though and they can tell you that. CNN Underscored reviews financial products such as credit cards and bank accounts based on their overall value. Citi® Double Cash Card: Best overall card for cash backBlue Cash Preferred® Card from American Express: Best for US supermarketsChase Freedom Flex: Best for restaurants, including takeout and deliveryCostco Anywhere Visa® Card by Citi: Best for gas purchasesChase Freedom Unlimited: Best for flexibilityInk Business Unlimited Credit Card: Best for small businessesDiscover it® Cash Back: Best sign-up bonusU.S. Related: Read CNN Underscored’s list of the best balance transfer credit cards. That’s a good sign-up bonus. The Capital One Savor Rewards Credit Card is one of the most potent cash-back credit cards on the market for folks who live going out and cooking in. Anyways, I’m looking forward to getting that card! This allows you to plan ahead and truly maximize your earnings based on upcoming purchases. From their, your entitled to all of the credit union’s benefits including some amazing loan rates. What we like about the Chase Freedom Flex: While you might sign up for the Chase Freedom Flex for its sign-up bonus, it’ll likely become one of your long-term go-to cards, thanks to its rotating 5% bonus categories and ongoing 3% category bonuses at restaurants and drugstores. If, however, you believe that neither your marriage nor any tip you might leave is any of Capital One’s ********* business, then refuse to do business with them – ever. The offers we present on Consumerism Commentary aren’t necessarily open to “the public” (that is, they are unadvertised except for on Consumerism Commentary and possibly a small number of other websites). ** This APR varies with the market, based on the prime rate. Great coupon kickers. The 5% quarterly bonuses are often similar with Chase and Discover and each program requires that the customer sign up for each quarterly benefit. After about 20-30 minutes, you ’ ll have to investigate if your goal is maximizing your cashback card. 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