OT: Best Rewards Credit Cards / Programs ?
The Marathon / Speedway discussion the other day was sort of interesting to me...just wondering what some of you folks have found to be $$$ for rewards credit cards or loyalty programs.
Mine:
Bank of America cash rewards visa - 2% flat rate cause I don't want to be bothered remembering rotating categories
Costco - 4% cash back on Costco gas and 2% annual credit on Costco purchases
August 4th, 2020 at 11:16 AM ^
I use Costco & Discover. I'm sure there's better ones out there if you're into micromanaging, but to your point, I don't want to have to do that. Discover has 5% cashback on a rotating quarterly schedule which is doable - example Q1: restaurants, Q2: grocery stores, Q3: gas stations, Q4: hotels and travel
August 4th, 2020 at 11:53 AM ^
My wife and I basically do that with our few cards we had and merged when we got married
Citi double cash 2% on everything - this is like 90% of our spending
AMEX blue cash - 3% on groceries
Discover - rotating 5% on whatever
So net we're probably getting like 2-2.5% back on our normal spending
August 4th, 2020 at 11:57 AM ^
I like the Citi Dbl Cash CC too. Too lazy to have to “sign up” every time for the rotators and remember which items get more rewards each quarter.
Discover required me to send all this BS info, then declined me for the card for no apparent reason as I have excellent credit. They still send me junk mail shit “pre-approved” for Discover card! Um, you cunts declined me, so fuck off.
August 4th, 2020 at 11:17 AM ^
AmEx has a card (Blue? I think) that is 6% back on groceries and 3% back at gas stations.
August 4th, 2020 at 11:26 AM ^
On my BOA card I have to call them to request the accumulated balance to be applied to my account. Is this the same with Amex or do they do it automatically? The Blue card is no annual fee?
August 4th, 2020 at 11:29 AM ^
I believe it is $95 annually.
The 6% on groceries is good for first $6,000 (and then it's 1%).
The 3% on gas has a cap as well (I think $1,000? I never hit that).
Online, your rewards account is updated every month (it's a month behind) - and you can choose to either credit your account, have it deposited into a linked account, or let it sit there and grow. I've never had a problem using it and it's super easy.
August 4th, 2020 at 11:50 AM ^
They have a fee and a no fee version. Have to do the math whether the fee is worth it, but if you do enough grocery shop, the preferred is the preferred way to go.
August 4th, 2020 at 11:55 AM ^
I had that one for years and thought I was doing about as good as I could till my buddy insisted his double cash was better. Well I calculated my rewards minus the $99 annual fee and realized my effective rewards were something close to 1.3% overall. Double cash gets you 2% so I went back to the free AMEX version for the 3% on groceries and got a double cash for everything else
Yeah, I should have added that I only use the Blue card for groceries/gas. Everything else with it is just 1%. So I use the Citi double card for all non-grocery/gas purchases.
Just 6% on $6,000 groceries minus the fee is $265, which is about 4.5%.
Even if you don't use it for gas - it's a great grocery-only card.
And that doesn't include any bonus for signing up for the first time.
August 4th, 2020 at 11:23 AM ^
Amex Platinum - airport lounges, i can spend the points on amazon. so money.
August 4th, 2020 at 11:25 AM ^
How much is Amex Platinum annual fee and can you speak to how you go about spending points on Amazon? That's sort of interesting.
August 4th, 2020 at 11:31 AM ^
Actually just put some detail on this in my post below. I also have the card.
August 4th, 2020 at 12:26 PM ^
Do not get the platinum to use points on amazon, colossal waste; just get the amazon card at that point.
August 4th, 2020 at 12:33 PM ^
ooo, Airport lounges?
thats a fun perk nobody is using right now
August 4th, 2020 at 11:27 AM ^
Costco Visa for gas, groceries and restaurants. AmEx for everything else.
August 4th, 2020 at 11:30 AM ^
Amex Platinum - perks and benefits vastly outpace the cost, albeit a high cost ($550 annually), for me
- $40 monthly credit on streaming and wireless services is $480 alone
- $100 at Saks
- $200 annual uber credits (using on uber eats during covid)
- $200 incidental airlines credits (can use for position upgrades on Southwest or baggage, etc)
- $100 credit for Global Entry application
- Random perks like this month there was a $100 off a purchase of $100 or more at Dell
- Insanely awesome customer experience -- when traveling the hotel concierge welcomes you by name and thanks you for being an AmEx cardholder and I usually get upgraded to suites when they're available.
- Your AmEx points can link with Amazon account and you can use your AmEx points on purchases n Amazon (although the redemption rate is about 50% of what the points are worth on the AmEx travel marketplace)
Prime Visa - 5% on Whole Foods groceries and Amazon purchases which is basically half of my expenditures.
EDIT: If you work for a company with a Corporate Amex card...be sure to call in and sign up for the Corporate Advantage program. You just have to prove to Amex that your company uses them (e.g. give Amex the account number on your corporate card so they can see you use both) and they'll automatically give you $150 off the annual fee for the Platinum Card in perpetuity (or until your company stops using Amex). This way your net out of pocket cost is $400 annually, which is offset by Uber and Airline credits. The rest (which is a lot) is gravy.
August 4th, 2020 at 11:54 AM ^
How does that work on the wireless / streaming? I have Tmobile for our family phones hitting my VISA each month. So if my Tmobile bill is $100 monthly and switch to AMEX they will issue me a $40 credit monthly against that charge...forever? Sounds too good to be true!
I used to have an AMEX gold card for 20 years but let it lapse got sick of the annual fee. $550 - $480 in theoretical credits on my wireless bill is $70...very worth it possibly!
August 4th, 2020 at 12:20 PM ^
I believe that the wireless/streaming credit is through the end of this year only. It's something AmEx recently did to offset difficulty in using other card perks, like airport lounges and also Uber credits, due to Covid. As soon as the charge hits your card, they issue a credit.
August 4th, 2020 at 12:23 PM ^
this is correct - DO NOT count on the streaming / wireless credit to be permanent. Amex has already started giving lower retention offers to card members so unless things turn south (which they could) Amex will probably trim these perks.
Also using MR to pay for amazon is just a huge waste of points. If that is your plan just get the amazon card.
August 4th, 2020 at 12:38 PM ^
Agreed on using points on Amazon purchases. The only time I've used points is for traveling, seems like you definitely get the best value for flights.
My annual fee was due at the end of March, I asked them what my options were in terms of going from a Platinum to a Gold card and instead of having me do that, they offered me a $500 credit which made staying with the Platinum card a no brainer.
August 4th, 2020 at 12:47 PM ^
yeah totally - I kept mine for another year because I got a similar offer; now they are only offering around 300 for retention.
Using for flights is good, even redeeming at gift cards for 1 cent per MR isn't the worst. There are better cash redemptions out there but you have to have one of the brokerage branded Plats
It's a temporary credit during covid because folks aren't using travel perks, etc. as much. But, it adds up.
August 4th, 2020 at 12:09 PM ^
I agree, high cost but worth it. You forgot Airport Lounges, getting access to the Delta lounges is huge if you fly out of Detroit or another Delta hub. Even if you don’t, the Centurion Lounges are some of the best lounges around.
Uber credit and Airline credit make up the annual fee.
I did not know about the streaming credit...is this new?
Only downside is I don’t think their travel points redemption is as good as chase. The hotels in their travel portal are focused on high end foreign resorts like the Fine Collection or whatever. You’re better off transferring points 1:1 to a foreign airline like Singapore, which offers better redemptions than domestic carriers.
streaming credit is new. You'll just see if on your bill just like the uber credits. Re: miles redemption: doing it WITH amex isn't always the right move but you can transfer the miles to a bunch of other suppliers. With Platinum, one key is booking flights/hotels through their portal which triggers 5x multiplier. If you travel a lot, this adds up. Once you've hoarded points, you can transfer them to a specific vendor once you've narrowed the trip you want to take (rather than redeem them with Amex). Amex points historically have held about as much transfer value as any card miles but sometimes you'll see a promo where you get 1.25x or even 1.5x on transfer miles. Again, if you travel a lot, it can be a huge value. If you're into points/miles, there are a bunch of blogs/sites that cover the topic like a currency exchange. Here are the amex transfer bonsus:
The Points Guy is another site that covers it.
August 4th, 2020 at 11:33 AM ^
I prefer simple so I just do the Bank of America cashback rewards one. No annual fee, and since I have my IRA with Merrill Edge I get a 75% bonus so it comes out to
5.25% back on chosen category 1
3.5% back on chosen category 2
1.75% back on all other purchases.
August 4th, 2020 at 12:24 PM ^
Yes the preferred rewards program is huge - also if you added another card you can bump that 1.75% up to a higher earner, but I think the card has a fee so could depend on your spend
BofA is probably one of the better ones if you have the assets to park in an IRA
August 4th, 2020 at 11:37 AM ^
We have an Amtrak card-have traveled from coast to coast for free.
But the main card we use donates to charities/NGOs of our choice.
August 4th, 2020 at 11:39 AM ^
I combine Chase Freedom with Chase Sapphire Preferred. Then you can use the 5% categories from the Freedom to get Ultimate Rewards Points, which can be used for miles with United, hotel stays, etc.
CSP does have an annual fee but it is well worth it.
August 4th, 2020 at 11:54 AM ^
I'd recommend CF, CF Unlimited and the Sapphire Reserve. When you transfer points to your UR Reserve account you end up getting a 1.5x increase when spending on travel. So while 1.5% for CFU is lower than some of the no fee 2% cards, it turns into 2.25% when transferring to Reserve.
August 4th, 2020 at 12:25 PM ^
This and then in addition to travel the Pay Yourself Back will be seemingly around for a while, or permanent, expanding the 1.5x multiplier out quite a bit
August 4th, 2020 at 11:45 AM ^
The chase rewards program has certain cards (the ones with a fee) that allow a 1:1 transfer of points to other loyalty programs. Since it’s much more difficult to earn miles as quickly as credit card points, this is probably the best rewards program for travelers. Does take a little know how to redeem tho
Scroll past the card details on this article to get a description of what’s possible
https://thepointsguy.com/guide/redeeming-chase-ultimate-rewards-maximum-value/
while I agree with your sentiment; never rely solely on the TPG valuations, they are really for a very specific use case, and not every day value.
Also that site tends to push the card they get the highest kick-backs for and not necessarily the best cards.
That being said, I do think the UR ecosystem is one of the best
August 4th, 2020 at 11:46 AM ^
I have seven (non-retailer-specific) rewards cards, signed up for the bonus ($100 minimum payout, up to $300) over the last five years or so for most.
Discover and Chase Freedom - rotating 5% cashback categories with various special offers for Freedom
Wells Fargo/AMEX Propel - 3% cashback on restaurants/bars, gas stations/rideshare, flights and hotels, and streaming services (Apple Music, Hulu, Netflix, Pandora and Spotify)
U.S. Bank Cash + - Select two 5% cashback categories every quarter. Nice to have if you know you will be making a significant purchase at a certain type of store.
AMEX Blue Cash - 3% cash back on grocery store purchases 2% on gas.
Capital One Venture - Catch all for other purchases 2% cash back, pays for a flight back to Ohio every couple of years.
Wells Fargo Cashwise - previously this card had good special offers (10% cash back on gas for a month or groceries) but they stopped offering recently. Make one or two purchases a year with it when their portal to certain retailers has special deals going on to keep it from being closed.
Also have Amazon Prime and Target card for 5% back.
August 4th, 2020 at 11:50 AM ^
Most of the time I just use a 2% cash back rewards card. I do have some of the other cards mentioned in this thread that have higher rewards for certain categories but I'm often lazy enough not to bother.
August 4th, 2020 at 11:59 AM ^
As I said elsewhere, I recommend 3 cards to cover essentially all spending: Chase Freedom (rotating 5%), Chase Freedom Unlimited (1.5% everything), and Chase Reserve (travel card with various perks and allows you to get another 1.5x out of your CF and CFU when transferring your Unlimited Rewards to your Reserve account and using for travel).
If you want a good no fee travel card, the WF Propel is a good bet. Can also give you free phone insurance if you pay your cell phone bill with it.
August 4th, 2020 at 12:00 PM ^
Someone highlight this Speedway loyalty program...do we need to get their credit card or is it a punch card ?
August 4th, 2020 at 12:53 PM ^
I have only gotten gas at Speedway for a few decades now, however they are changing their rewards program(and not for the better).
It used to be 1,000 points for every $100 you put on a gift card, and $4 off every $100. So I would just load $200 up on the gift card when needed for $192 and I'd get 2,000 points. They changed it about two months ago(maybe in advance of this merger?), so neither applies.
Not sure what the new offerings are, also it is just a membership card, not a credit card.
August 4th, 2020 at 12:08 PM ^
Fidelity 2% cash back on everything and right into your Roth IRA or brokerage account. IRS considers it a rebate so great way to save extra tax free for retirement.
August 4th, 2020 at 12:26 PM ^
We love our Delta AmEx and Marriott Premier Cards. Granted, I would not get them now since no one is flying or staying anywhere other than home, but they’re great to have when things get back to normal.
Both have annual fees north of $100, and I think our specific AmEx card is $195, but if you fly even just occasionally throughout the year it pays for itself. We each get one free checked bag round trip, so that’s $50 saved each way assuming my wife flies with me, and then a companion pass for my wife once a year for a free flight anywhere in the lower 48. We used it to pay for her flight to SF a year ago and that’s normally a $400 ticket from the East Coast.
Marriott has been pretty good too. 6x points in Marriott purchases and 2x points on anything else, and we both travel on a relatively frequent basis. At least in normal times. They’re doing really good deals now like 10x points on gas and restaurants between now and mid-September so you can really rack up the points, but I’m sure it has something to do with them really hurting for business. But we accrue points fast with this thing and used it to pay for our entire stay at a Marriott resort In Santa Fe last year, along with a couple of overnight stops on long car trips. I don’t think we’ve paid for a hotel room in a year and a half.
If you’re looking into what new cards to get now, I’d probably stay away from these ones since you likely won’t be using the benefits of them anytime soon, but we’ve had them for a while and have gotten a ton of value out of them so once things calm down and people start traveling again, I’d highly recommend them.
August 4th, 2020 at 12:29 PM ^
If you do a lot of shopping on Amazon (as I do), the Amazon Prime VISA is a good option. 5% back at Amazon and Whole Foods (if you're a Prime member), 2% back at restaurants, gas stations and drug stores, 1% back everywhere else.
Otherwise, it's the old trusty Starwood AMEX (or Marriott Bonvoy or whatever the hell it's called now).
August 4th, 2020 at 12:45 PM ^
Same here. And the points are easy to use at checkout on Amazon.
August 4th, 2020 at 12:35 PM ^
Amazon store card 5%
fidelty 2% cash back
Anything more is unnecessarily complex unless you’re a rampant consumer
August 4th, 2020 at 12:47 PM ^
Fidelity Visa: 2% on everything
AmEx Blue Preferred: 3% on gas and 6% on groceries (it does have an annual fee; $95, I think)
August 4th, 2020 at 12:51 PM ^
I mean there are really two different questions in there -
best reward program and best individual card
As far as program either the UR ecosystem from Chase or the preferred rewards from BofA assuming you have the assets to get the 75% multiplier
As far as individual cards, as long as you are are beating 2% net of fees / benefits; your doing fine. If you aren't beating 2% then just switch to the Citi DC as others have noted
August 4th, 2020 at 12:51 PM ^
I mean there are really two different questions in there -
best reward program and best individual card
As far as program either the UR ecosystem from Chase or the preferred rewards from BofA assuming you have the assets to get the 75% multiplier
As far as individual cards, as long as you are are beating 2% net of fees / benefits; your doing fine. If you aren't beating 2% then just switch to the Citi DC as others have noted
August 4th, 2020 at 12:53 PM ^
I use Costco for gas / restaurants, and Alliant Credit Union's signature visa for 2.5% cash back on everything else (with a $99 af)
The Bank of Bolivia Rewards Card is excellent.
The Bank of Ecuador Card is good, too.
Someone else's.
August 6th, 2020 at 11:39 AM ^
Speedway.