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Established Contributor
ztnjpv
Posts: 726
Registered: ‎02-01-2012
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Best Cash Rewards Card for Heavy Usage

[ Edited ]

My research on the most lucrative cash back cards has been rather tedious and difficult. Some cards SEEM more lucrative based on superficial descriptions of percentages in certain categories (often revolving) but then the fine print shows limits on how much cash back you can earn. Others that seem limitless and straightforward...like the Cap One Cash...are stuck at 1.5% and that's it.

 

I own a business and intend to shift a lot of my monthly payments (that incur no service charge for CC payments) from my check book to my new card. It's easy money for doing nothing different. 

 

I was looking at business cards too. The problem with a lot of these cards is that the lucrative percentages are for things I don't really use that much like travel and office supplies. I own a restaurant so I'm putting things on the card like advertising (print, web radio), garbage p-up, linen service, telecom services and utilities (if applicable with no fee). There may be others. Sadly,  the BIG expenses...food purchases...don't fit as well. :smileysad: They either won't do it or charge a fee that cancels out most of the benefit. But the sum of everything else is pretty darn good without it. Add in my personal usage and we're talking between $6-7K per month. Maybe more. 

 

The Cap One Spark Cash Card (business card) seems to be the best one at 2% on everything. But the site that told me this, Nerd Wallet, doesn't expand very well on categories. It's more suited for personal categories. See here: http://www.nerdwallet.com/business-credit-cards There are other biz cards that boast 3% and 5% back on certain things but they don't apply or aren't worth much to me.

 

Anyone know of something even better? or an interactive site that helps you choose? Chase Freedom and Citi Dividend are often listed among the best but they have pesky, low limits that would short change my efforts. 


Starting Scores (Sept 2011): All lower-mid 600s. CURRENTLY: TU FICO: 801 (3/28/14), EQ FICO 808 (3/28/14), EX FICO 798 (9/4/13) (PSECU). Goal: Achieved! Now Maintain!
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LS2982
Posts: 15,434
Registered: ‎04-09-2011
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Re: Best Cash Rewards Card for Heavy Usage


ztnjpv wrote:

My research on the most lucrative cash back cards has been rather tefious and difficult. Some cards SEEM more lucrative based on superficial descriptions of percentages in certain categories (often revolving) but then the fine print shows limits on how much cash back you can earn. Others that seem limitless and straightforward...like the Cap One Cash...are stuck at 1.5% and that's it.

 

I own a business and intend to shift a lot of my monthly payments (that incur no service charge for CC payments) from my check book to my new card. It's easy money for doing nothing different. 

 

I was looking at business cards too. The problem with a lot of these cards is that the lucrative percentages are for things I don't really use that much like travel and office supplies. I own a restaurant so I'm putting things on the card like advertising (print, web radio), garbage p-up, linen service, telecom services and utilities (if applicable with no fee). There may be others. Sadly,  the BIG expenses...food purchases...don't fit as well. :smileysad: They either won't do it or charge a fee that cancels out most of the benefit. But the sum of everything else is pretty darn good without it. Add in my personal usage and we're talking between $6-7K per month. Maybe more. 

 

The Cap One Spark Cash Card (business card) seems to be the best one at 2% on everything. But the site that told me this, Nerd Wallet, doesn't expand very well on categories. It's more suited for personal categories. See here: http://www.nerdwallet.com/business-credit-cards There are other biz card boast 3% and 5% back on certain things but they don't apply or aren't worth much to me.

 

Anyone know of something even better? or an interactive site that helps you choose? Chase Freedom and Citi Dividend are often listed among the best but they have pesky, low limits that would short change my efforts. 



This one is the best that I can think of. 2% all the time is still very good for money you would otherwise pay in cash!




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drkaje
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Re: Best Cash Rewards Card for Heavy Usage

Amex Plum gives a 1.5% discount if the balance is paid within 10 days of statement date. That's basically the same as cash.


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ztnjpv
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Re: Best Cash Rewards Card for Heavy Usage

"This one is the best that I can think of. 2% all the time is still very good for money you would otherwise pay in cash!"

 

--------------------------------------------------------------------------------------------

 

Yeah. It seems to be. It's just that you always see those 3 and 5% cash back categories and the mouth starts drooling! LOL

 

I keep looking for that "magic card" that somehow aligns best with my expenses and I'm not seeing it.

 

Looking at these: http://www.bankaholic.com/credit-cards/business/...., I see 2X points on advertising on the The Business Gold Rewrds Card from Amex OPEN but I'm always suspicious of  "points" because you never know what points are worth compared to starightforward "% cash back". Points are foggy. Sometimes they're better than percentages, sometimes not. And there's no way to know.  Plus, it's AMEX, which I always worry about not being as readily accepted as VISA/MC. 

 

3% to 5% cash back on advertising and telecom/cable would be awesome. But then I'd likely have that off set by 1% on everything else, which would make everything a virtual wash. TEDIOUS.


Starting Scores (Sept 2011): All lower-mid 600s. CURRENTLY: TU FICO: 801 (3/28/14), EQ FICO 808 (3/28/14), EX FICO 798 (9/4/13) (PSECU). Goal: Achieved! Now Maintain!
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TannerK
Posts: 1,275
Registered: ‎12-02-2010
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Re: Best Cash Rewards Card for Heavy Usage


drkaje wrote:

Amex Plum gives a 1.5% discount if the balance is paid within 10 days of statement date. That's basically the same as cash.


+1 for Plum, the weirdest charge card Amex has.

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LS2982
Posts: 15,434
Registered: ‎04-09-2011
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Re: Best Cash Rewards Card for Heavy Usage


ztnjpv wrote:

"This one is the best that I can think of. 2% all the time is still very good for money you would otherwise pay in cash!"

 

--------------------------------------------------------------------------------------------

 

Yeah. It seems to be. It's just that you always see those 3 and 5% cash back categories and the mouth starts drooling! LOL

 

I keep looking for that "magic card" that somehow aligns best with my expenses and I'm not seeing it.

 

Looking at these: http://www.bankaholic.com/credit-cards/business/...., I see 2X points on advertising on the The Business Gold Rewrds Card from Amex OPEN but I'm always suspicious of  "points" because you never know what points are worth compared to starightforward "% cash back". Points are foggy. Sometimes they're better than percentages, sometimes not. And there's no way to know.  Plus, it's AMEX, which I always worry about not being as readily accepted as VISA/MC. 

 

3% to 5% cash back on advertising and telecom/cable would be awesome. But then I'd likely have that off set by 1% on everything else, which would make everything a virtual wash. TEDIOUS.


+1 on not liking the points. I'd prefer straight cash back as well!




Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
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Open123
Posts: 4,106
Registered: ‎02-23-2011
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Re: Best Cash Rewards Card for Heavy Usage

[ Edited ]

The 2% FIA Amex, and the Sallie Mae 2% Visa Signature.  Both have no annual fees, and both offer straight up 2%.  The Sallie Mae has to be redeemed at 25k for the full $250, but with the initial 10k bonus, it's not hard to meet.  If you have an account with them, the Ameriprise World Mastercard is a free 2% cashback, along with HSBC Premier if you bank with them (and, no foreign transaction fee).

 

Sparks is good, but has the annual fee.  Plum is a great card, but has a very a high fee.  

 

If you're looking for a straight cash 2%, I'd suggest the no annual fee version suits you the best.  The only exception is if all of your spending occurs at a supermarket where the BDP is without peer, even with the high fee.

 

Are you using this for personal or business?  If business, you can fully write off the fee, which may make sense.  But, for personal spending, I don't believe in ever paying a fee for a cashback card since there are no fee 2% straight cashbacks available.  The only exception being the BCP because of the whopping 6% at supermarkets.

 

Established Contributor
ztnjpv
Posts: 726
Registered: ‎02-01-2012
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Re: Best Cash Rewards Card for Heavy Usage

Open 123, 

 

What are BDP and BCP? Too many acronyms. :smileyhappy:


Starting Scores (Sept 2011): All lower-mid 600s. CURRENTLY: TU FICO: 801 (3/28/14), EQ FICO 808 (3/28/14), EX FICO 798 (9/4/13) (PSECU). Goal: Achieved! Now Maintain!
Senior Contributor
Open123
Posts: 4,106
Registered: ‎02-23-2011
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Re: Best Cash Rewards Card for Heavy Usage



ztnjpv wrote:

Open 123, 

 

What are BDP and BCP? Too many acronyms. :smileyhappy:


LOL...sorry, sometimes I forget not everyone is used to all these acronyms.

 

The AmEx Blue Cash preferred.  BDP must be a type where I meant BCP.  See?  I even confuse myself with all of the acronyms.

Established Member
waralpha
Posts: 47
Registered: ‎08-16-2011
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Re: Best Cash Rewards Card for Heavy Usage

I think BDP was a typo, and was meant to be BCP.

 

BCP = AMEX Blue Cash Preferred, 6% supermarket, 3% gas & department stores, 1% everything else, $75 annual fee.


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