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Valued Contributor
RyVision
Posts: 1,346
Registered: ‎04-15-2011
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Re: What is the best 5% cash back card out there.


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.

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Jazzzy
Posts: 2,679
Registered: ‎07-29-2009
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Re: What is the best 5% cash back card out there.


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.

Valued Contributor
bs6054
Posts: 1,673
Registered: ‎11-11-2012
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Re: What is the best 5% cash back card out there.


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!)

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distantarray
Posts: 2,112
Registered: ‎09-25-2011
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Re: What is the best 5% cash back card out there.


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.


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ukimafija
Posts: 127
Registered: ‎08-13-2012
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Re: What is the best 5% cash back card out there.

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%

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charyot77
Posts: 237
Registered: ‎06-21-2010
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Re: What is the best 5% cash back card out there.

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! 

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HiLine
Posts: 3,160
Registered: ‎10-19-2012
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Re: What is the best 5% cash back card out there.


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? :smileywink:

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RonDawg
Posts: 322
Registered: ‎10-19-2012
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Re: What is the best 5% cash back card out there.


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? :smileywink:


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.

AMEX Platinum, AMEX Blue cash (10k), AMEX Delta (10k), US Bank Premier Line (14.5k), US Bank Cash + (7.5k), Chase Freedom (5k), Fred Meyer Rewards Visa (7.5k), US Bank Flex Perks Travel Rewards (5k), Discover IT (9.5k), Chase Sapphire Preferred (8k), Alerus Financial Visa Signature issued by Elan (10k), BofA Cash Rewards (10k), Citi Thankyou Pref (6.5k) TU FICO Score = 807, EQ FICO Score = 780, EX FICO Score = 780,
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Dustink
Posts: 3,097
Registered: ‎10-02-2012
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Re: What is the best 5% cash back card out there.


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

 

+1

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ukimafija
Posts: 127
Registered: ‎08-13-2012
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Re: What is the best 5% cash back card out there.

[ Edited ]

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

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

BOA Cash Rewards Visa Sig. 12K; BOA Travel Rewards Visa Sig 5K, US Bank Cash+ 11.5K, AMEX BCE 6200, AMEX BLUE Sky 7K, Chase Freedom Visa Sig. 5400, Fort Knox FCU Visa Platinum 2500; CAP ONE Cash Rewards WORLD MC 5K

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