topic Re: What is the best 5% cash back card out there. in Credit Cards

What is the best 5% cash back card out there.

RonDawg — Fri, 16 Nov 2012 06:50:48 GMT

I have the US Bank Cash + card and I think it is the best for me, Anyone tell me their opinions of the best 5% cash back card and why?

Re: What is the best 5% cash back card out there.

HiLine — Fri, 16 Nov 2012 07:07:23 GMT

Discover More, thanks to ShopDiscover and top notch customer service.

Re: What is the best 5% cash back card out there.

webhopper — Fri, 16 Nov 2012 07:08:41 GMT

Shop discover rocks for travel! If I had cash + that would be a major contender

Re: What is the best 5% cash back card out there.

RyVision — Fri, 16 Nov 2012 13:24:50 GMT

Discover is great, esp if you can use things from "Shop Discover" (Which I found I can and have saved quite a bit that way). So I'm rather impressed by Discover More since getting it. Some discounts on there come in handy.

Chase is about as good though I don't use any Chase online shopping partners.

PenFed is good for the 5% cash back if paid at the pump, though they changed that card and I don't think anyone can apply for it anymore, the cash back is automatically applied to the balance each month. Have not switched to the new card as of yet. They are also a bit harder to get than most.

Re: What is the best 5% cash back card out there.

Jazzzy — Fri, 16 Nov 2012 15:18:14 GMT

RyVision wrote:

Discover is great, esp if you can use things from "Shop Discover" (Which I found I can and have saved quite a bit that way). So I'm rather impressed by Discover More since getting it. Some discounts on there come in handy.

Chase is about as good though I don't use any Chase online shopping partners.

PenFed is good for the 5% cash back if paid at the pump, though they changed that card and I don't think anyone can apply for it anymore, the cash back is automatically applied to the balance each month. Have not switched to the new card as of yet. They are also a bit harder to get than most.

I recently got the PenFed cash back card. You can choose between their "rewards" card or their cash back version. We get a statement credit each month that effectively pays for a tank of gas. Very nice card.

I also use the 5% Discover categories.

Re: What is the best 5% cash back card out there.

distantarray — Fri, 16 Nov 2012 16:25:49 GMT

in my opinion

1. US Bank Cash+

2. Amex BCP

3. Chase Freedom (6.25%+ with trifecta for travel) Also VERY intensive online shopping mall for extra points on everything I ever need.

4. Citi Forward

5. Discover More

Also with Chase Trifecta Combo + BCP you'll get 4.625%+ on gas so don't really need a gas card like PenFED imo...It'd save me less than $10 a year on average.

Re: What is the best 5% cash back card out there.

RyVision — Fri, 16 Nov 2012 17:40:42 GMT

Jazzzy wrote:
RyVision wrote:

Discover is great, esp if you can use things from "Shop Discover" (Which I found I can and have saved quite a bit that way). So I'm rather impressed by Discover More since getting it. Some discounts on there come in handy.

Chase is about as good though I don't use any Chase online shopping partners.

PenFed is good for the 5% cash back if paid at the pump, though they changed that card and I don't think anyone can apply for it anymore, the cash back is automatically applied to the balance each month. Have not switched to the new card as of yet. They are also a bit harder to get than most.

I recently got the PenFed cash back card. You can choose between their "rewards" card or their cash back version. We get a statement credit each month that effectively pays for a tank of gas. Very nice card.
I also use the 5% Discover categories.

I'm glad you spotted my post and replied with that info! I was under the impression from the letter they sent not long ago (ok, it was early this year lol) that they were ending the 5% cash back type Platinum and we'd eventually be forced into the point system (which I consider a pain in comparison).

I'm sure other forum members will be happy to know they can still apply for the card of choice as well!

Thanks Jazzzy!

Re: What is the best 5% cash back card out there.

bs6054 — Fri, 16 Nov 2012 17:43:37 GMT

distantarray wrote:
in my opinion

1. US Bank Cash+
2. Amex BCP
3. Chase Freedom (6.25%+ with trifecta for travel) Also VERY intensive online shopping mall for extra points on everything I ever need.
4. Citi Forward
5. Discover More

Also with Chase Trifecta Combo + BCP you'll get 4.625%+ on gas so don't really need a gas card like PenFED imo...It'd save me less than $10 a year on average.

I think if people do the math in most cases the relative differences in savings betweens cards does turn out to be small, often dominated by the size of the sign up bonus and of course where you do your spending. That said:

Penfed Rewards (which DOESN'T give a statement credit each month, instead you can get prepaid visa gift cards after $25 in points) apart from 5% on gas gives unlimited 3% on groceries. With the cap on BCP, this is of great value to people with high grocery spend.

Re: What is the best 5% cash back card out there.

RyVision — Fri, 16 Nov 2012 18:09:07 GMT

bs6054 wrote:
distantarray wrote:
in my opinion

1. US Bank Cash+
2. Amex BCP
3. Chase Freedom (6.25%+ with trifecta for travel) Also VERY intensive online shopping mall for extra points on everything I ever need.
4. Citi Forward
5. Discover More

Also with Chase Trifecta Combo + BCP you'll get 4.625%+ on gas so don't really need a gas card like PenFED imo...It'd save me less than $10 a year on average.
I think if people do the math in most cases the relative differences in savings betweens cards does turn out to be small, often dominated by the size of the sign up bonus and of course where you do your spending. That said:

Penfed Rewards (which DOESN'T give a statement credit each month, instead you can get prepaid visa gift cards after $25 in points) apart from 5% on gas gives unlimited 3% on groceries. With the cap on BCP, this is of great value to people with high grocery spend.

The PenFed CASH Rewards card (exactly how it's labeled) does give an automatic statement credit each month (but you miss out on the extra % for groceries). The new Points Rewards does not.

Just so others know it seems that both types of that PenFed card are still available.

Re: What is the best 5% cash back card out there.

bs6054 — Fri, 16 Nov 2012 18:13:23 GMT

RyVision wrote:
bs6054 wrote:
distantarray wrote:
in my opinion

1. US Bank Cash+
2. Amex BCP
3. Chase Freedom (6.25%+ with trifecta for travel) Also VERY intensive online shopping mall for extra points on everything I ever need.
4. Citi Forward
5. Discover More

Also with Chase Trifecta Combo + BCP you'll get 4.625%+ on gas so don't really need a gas card like PenFED imo...It'd save me less than $10 a year on average.
I think if people do the math in most cases the relative differences in savings betweens cards does turn out to be small, often dominated by the size of the sign up bonus and of course where you do your spending. That said:

Penfed Rewards (which DOESN'T give a statement credit each month, instead you can get prepaid visa gift cards after $25 in points) apart from 5% on gas gives unlimited 3% on groceries. With the cap on BCP, this is of great value to people with high grocery spend.

The PenFed CASH Rewards card (exactly how it's labeled) does give an automatic statement credit each month (but you miss out on the extra % for groceries). The new Points Rewards does not.

Just so others know it seems that both types of that PenFed card are still available.

Sorry if my comment came out wrong! I wasn't implying that the Cash Rewards didn't give statement credit, I meant to point out, as a slight negative, that the Platinum Rewards doesn't, as I know a lot of people like the simplicity of statement credit, as compared to having to save points and cash them in for some other form of credit.

Re: What is the best 5% cash back card out there.

RyVision — Fri, 16 Nov 2012 18:28:29 GMT

bs6054 wrote:
Sorry if my comment came out wrong! I wasn't implying that the Cash Rewards didn't give statement credit, I meant to point out, as a slight negative, that the Platinum Rewards doesn't, as I know a lot of people like the simplicity of statement credit, as compared to having to save points and cash them in for some other form of credit.

The negative of dealing with points was the reason I didn't want to switch. I'm glad you mentioned the 3% on groceries too, being that's something the Points Rewards card has the Cash Rewards doesn't.

Good info for others who might be considering applying for 1 of the 2 cards.

Re: What is the best 5% cash back card out there.

Jazzzy — Fri, 16 Nov 2012 18:36:56 GMT

bs6054 wrote:
distantarray wrote:
in my opinion

1. US Bank Cash+
2. Amex BCP
3. Chase Freedom (6.25%+ with trifecta for travel) Also VERY intensive online shopping mall for extra points on everything I ever need.
4. Citi Forward
5. Discover More

Also with Chase Trifecta Combo + BCP you'll get 4.625%+ on gas so don't really need a gas card like PenFED imo...It'd save me less than $10 a year on average.
I think if people do the math in most cases the relative differences in savings betweens cards does turn out to be small, often dominated by the size of the sign up bonus and of course where you do your spending. That said:

Penfed Rewards (which DOESN'T give a statement credit each month, instead you can get prepaid visa gift cards after $25 in points) apart from 5% on gas gives unlimited 3% on groceries. With the cap on BCP, this is of great value to people with high grocery spend.

The PenFed Rewards card gives points. The PenFed Cash Rewards card gives you cash credit on each statement. We have both. Like many folks here, we changed our original card to the Rewards card to get the bonus they gave if you changed. Then, we applied for 2 new Cash Rewards cards because we'd rather have the cash credit for gas (which, for us, turns out to be $50-60 credit on each statement.

They still offer both cards.

Re: What is the best 5% cash back card out there.

bs6054 — Fri, 16 Nov 2012 18:58:17 GMT

RyVision wrote:
The negative of dealing with points was the reason I didn't want to switch. I'm glad you mentioned the 3% on groceries too, being that's something the Points Rewards card has the Cash Rewards doesn't.

Good info for others who might be considering applying for 1 of the 2 cards.

Yes, the uncapped (for now!) 3% on groceries wasn't really a big factor until the BCP cap was announced in Oct. I think this is now the best grocery option after using up the BCP limit. (I know not everyone spends that much on groceries, but we do!)

Re: What is the best 5% cash back card out there.

distantarray — Fri, 16 Nov 2012 19:18:09 GMT

Jazzzy wrote:
bs6054 wrote:
distantarray wrote:
in my opinion

1. US Bank Cash+
2. Amex BCP
3. Chase Freedom (6.25%+ with trifecta for travel) Also VERY intensive online shopping mall for extra points on everything I ever need.
4. Citi Forward
5. Discover More

Also with Chase Trifecta Combo + BCP you'll get 4.625%+ on gas so don't really need a gas card like PenFED imo...It'd save me less than $10 a year on average.
I think if people do the math in most cases the relative differences in savings betweens cards does turn out to be small, often dominated by the size of the sign up bonus and of course where you do your spending. That said:

Penfed Rewards (which DOESN'T give a statement credit each month, instead you can get prepaid visa gift cards after $25 in points) apart from 5% on gas gives unlimited 3% on groceries. With the cap on BCP, this is of great value to people with high grocery spend.
The PenFed Rewards card gives points. The PenFed Cash Rewards card gives you cash credit on each statement. We have both. Like many folks here, we changed our original card to the Rewards card to get the bonus they gave if you changed. Then, we applied for 2 new Cash Rewards cards because we'd rather have the cash credit for gas (which, for us, turns out to be $50-60 credit on each statement.
They still offer both cards.

For majority of people the BCP should suffice just fine, 6000 a year only comes out to around $110 a week, but considering if your a smart shopper most of your groceries should be coming from Sams Club, CostCo, and BJ's =)

it all depends on your lifestyle and if PenFED was easier to get in I might agree, but PenFED's guidelines as well as US Bank Cash+ card keep these out of most people's reach. I also got a new card yesterday, CostCo business Amex, gives me 4% on ANY gas station minus super centers (includes CostCo gas =) ) and 1% on CostCo purchaseswhich doesn't sound like much, but it also gives me 1 free membership for a family member which could save $55 a year and the annual fee is waived as long as I renew my CostCo membership. also 2% from restaurants and travel.

Re: What is the best 5% cash back card out there.

ukimafija — Mon, 19 Nov 2012 04:27:16 GMT

I would not limit that answer to just one card, but i stongly believe it is a combination of

1. Penfed platinum rewards: 5% CB on gas +3% on groceries,

2. Chase Freedom 5% rotating cat+ with checking you get 10+10% bonus points

3. US Bank Cash+ choose your own two 5% categories + one 2%

Re: What is the best 5% cash back card out there.

charyot77 — Mon, 19 Nov 2012 04:37:59 GMT

I'm really happy with my Citi Dividend card so far.

The major downside, in my opinion, is that they cap the awards at $300 per year (unless you shop through their mall, I think).

I'm more than happy with the $150 sign-up bonus they gave me for only spending $500!

Re: What is the best 5% cash back card out there.

HiLine — Mon, 19 Nov 2012 06:54:49 GMT

ukimafija wrote:
I would not limit that answer to just one card, but i stongly believe it is a combination of
1. Penfed platinum rewards: 5% CB on gas +3% on groceries,
2. Chase Freedom 5% rotating cat+ with checking you get 10+10% bonus points
3. US Bank Cash+ choose your own two 5% categories + one 2%

And where is Discover More on that list? ;)

Re: What is the best 5% cash back card out there.

RonDawg — Mon, 19 Nov 2012 07:02:11 GMT

HiLine wrote:
ukimafija wrote:
I would not limit that answer to just one card, but i stongly believe it is a combination of
1. Penfed platinum rewards: 5% CB on gas +3% on groceries,
2. Chase Freedom 5% rotating cat+ with checking you get 10+10% bonus points
3. US Bank Cash+ choose your own two 5% categories + one 2%
And where is Discover More on that list? ;)

Some don't care for Discover. However, I do like Discover myself. I think they give fair cash back to the average person. I use mine more the SDing it.

Re: What is the best 5% cash back card out there.

Dustink — Mon, 19 Nov 2012 08:10:30 GMT

distantarray wrote:
in my opinion

1. US Bank Cash+
2. Amex BCP
3. Chase Freedom (6.25%+ with trifecta for travel) Also VERY intensive online shopping mall for extra points on everything I ever need.
4. Citi Forward
5. Discover More

Also with Chase Trifecta Combo + BCP you'll get 4.625%+ on gas so don't really need a gas card like PenFED imo...It'd save me less than $10 a year on average.

That list seems great

Re: What is the best 5% cash back card out there.

ukimafija — Tue, 27 Nov 2012 05:43:20 GMT

HiLine wrote:
And where is Discover More on that list? ;)

Most of the time Discover More and Chase Freedom have the same categories, + Discover only gives 0.25 for the first 3k spent where Freedom + Checking gets you ~1.11% outside 5% categories that is why i did not put discover, but the real closer is the Cash+ that makes me serious CB - the smallest you get is 1.25 points with gold checking acc so Discover is not needed at all.

For me there is no category that I am gonna spend enough to redeem outside the categories these 3 cards already cover - almost everything for general use