After realizing that I've had the same 3-4 low rewards or no rewards credit cards for many years, I've decided to research getting something better. A few searches of YouTube show that there are some people who really "master" the cash back system.
Wanted to spur some discussion on what your favorite rewards credit card is and why? Do you use multiple cards in a system?
(Note that I assume balances are paid off in full each month so interest is never paid. Not intending this to become a discussion on "should you own credit cards," just a discussion for those who have enough will power to only spend within their limits.)
It may take several months to implement, but I want to have a 4-5 card "system" that gets me 3-6% cash back on almost everything I buy:
Get these 4 going:
- Amazon Prime Visa: 5% cash back on Amazon.com, restaurants (2%), and drug stores (2%)
- Uber Visa: 4% on dining, 3% on hotel and airfare, 2% online purchases, and 1% all else.
- Bank of America Cash Rewards Mastercard (BOACRM): 3% on your choice of two non-rotating categories: Gas, online shopping, dining, travel, drug stores, or home improvement; and 2% (always) at grocery stores and wholesale clubs; 1% everywhere else
- Amex Blue Cash Preferred (ABCP): 6% on Groceries up to $6,000 (includes Walmart grocery!), 6% on Streaming, and 3% on Gas - $95 fee, but worth it! ($265 net per year on groceries alone if you max spend the $6,000) AND a $250 sign on bonus (my custom offer was $300!). [I just got approved for this recently!]
Choose One of These for The “Everything Else” (EE):
- Citi Double Cash – 1% on purchase, 1% at payment. 2% total. Simple.
- PayPal Mastercard – 2% on everything. Must be linked to your PayPal account. Simple.
- Chase Freedom Unlimited - 3% on everything first year (up to $20K); 1.5% thereafter
- HSBC Cash Rewards Mastercard - 3% on everything first year (up to $10K); 1.5% thereafter
- Capital One Quicksilver - 1.5% on everything - (I already have this, I had a no-rewards Cap 1 card and got upgraded just by asking.)
Better credit cards out there? What do you like? Do you play the hotel/flight/travel game? Discuss!
