What's your cash back strategy?

[kkapdolee]

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@Themanwhocan wrote:

Well, my cash back strategy is in my signature, of course.

Future pickups will be Huntington Voice for 3% CB on Utilities, which I hope will cover my cable TV and DSL Internet. if not, then its 3% on Drugstores.

I will pickup the other two 5% category rotators: Chase Freedom, Citi Dividend.

I don't have a strategy for my BCE. It doesn't make the cut anymore. And I don't need more grocery than the Sallie Mae can handle, so no PC to BCP.

I will exchange categories on the two Cash+ cards mid-year, to try for $25 gift cards for redeeming $100, on each card (ie, swap categories to balance out card usage/earnings).

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Themanwhocan,

You are such an optimizer!

Huntington Voice? Where do you find these cards?

I'm trying to follow your footsteps in getting the best rewards cards..

[tld409]

-Groceries- Amex BCE (3%)

-Gas - BOA Visa  1,2,3 (3%)

-Dining- CSP Visa (2%)

-Sams Club and Walmart-  Sams Club Discover (2%)

-Amazon and all other on line shopping - Discover for now (5%) then  Sams Club Discover (2%)

Socked drawer while current balances being paid off:

-CapOne World MC Silver- will be used for everything not covered above for 1.5% once 0% balance tx is paid off

-PSECU Visa - will only use for large purchases and/or balance txs (low rates)

-LOC Visa - only used for large purchase and/or balance txs (low rates)

Socked drawer- used sparingly

-Walmart- hoping for PC to Discover version

- Citi Simplicity- 0% balanced tx paid off. Hoping for PC to TYP in January or will close and possibly apply later in year for Sallie Mae or Chase Freedom

* I do plan to close a few cards that are not worth keeping open based on rewards, limit, apr, options for low or 0% balance tx offers etc. over the next 2 years 

[Themanwhocan]

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@kkapdolee wrote:

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@Themanwhocan wrote:

Well, my cash back strategy is in my signature, of course.

Future pickups will be Huntington Voice for 3% CB on Utilities, which I hope will cover my cable TV and DSL Internet. if not, then its 3% on Drugstores.

I will pickup the other two 5% category rotators: Chase Freedom, Citi Dividend.

I don't have a strategy for my BCE. It doesn't make the cut anymore. And I don't need more grocery than the Sallie Mae can handle, so no PC to BCP.

I will exchange categories on the two Cash+ cards mid-year, to try for $25 gift cards for redeeming $100, on each card (ie, swap categories to balance out card usage/earnings).

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Themanwhocan,

You are such an optimizer!

Huntington Voice? Where do you find these cards?

I'm trying to follow your footsteps in getting the best rewards cards..

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I read a lot on myfico.com, and I don't forget when someone mentions a good cash back card. I'm merely very repetitive in consistently mentioning the good cash back cards over and over. I'm an old hand at this, after all, I obtained my first non-secure credit card way back in January of 2013. Yep, I'm old enough to remember 2013, it was a very good year...

Don't expect me to know a thing about travel cards though, since I never travel

Another good summary of cashback cards and many categories is: http://boardingarea.com/frequentmiler/2012/11/09/best-category-bonuses/#comment-338575

[yellowcake]

Restaurant/fast food: 5% - Cash +

Groceries: 3% - BCE

Gas: 3% - via gift cards at groceries stores (BCE)

Non-category: 2% - Priceline Rewards Visa

[lexrjSD]

In Use

Groceries: BCP (6%)

Gas: BCP Arco gift cards from Vons or Ralphs (6%)

Everything else: Barclay Arrival World (2%)

Socks drawer

CSP - will pc for the regular sapphire before the next AF (backup card when travelling)

Crap One Quicksilver

Gross Avg Yearly Cashback: $600

Net Avg Yearly Cashback (Gross - AFs): $436

Always open for suggestions on how to improve.

[zyzzus]

This huntington voice card is interesting.
Anyone know what merchant category codes count?

Cash back strategy for me should be evident nothing too exciting here.

[longtimelurker]

And just a gentle reminder:  the best cash back strategy is unlikely to be as profitable as simply signing up for a few new high bonus cards each year

[too-much-time]

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@longtimelurker wrote:

And just a gentle reminder:  the best cash back strategy is unlikely to be as profitable as simply signing up for a few new high bonus cards each year

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That will not last forever. At some point you will have exhausted the amount of credit that a lender will provide relative to your income, and when that has happened with a handful of favorites, you can resort to one of two. Close some accounts and sign up for new  cards, at which time these good people will soon see through the scheme and drop you like a bad habit. Or pollute your credit report with less appealing lenders which will stick to your reports for a minimum of ten years like a bad stain from a wad of sticky bubble gum with undisclosed saliva mixed in. Take your pick.

 

[longtimelurker]

While it is true that some lenders have become increasingly sensitive to churning, that varies and there are enough goodish lenders to space things out without becoming an obvious bonus chaser.  

And, more importantly, good cashback cards get nerfed (several examples recently among the cards I have!) so you can lose out that way as well.  Then you need to replace them, putting you in the situation you describe...

[Themanwhocan]

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@yellowcake wrote:

Restaurant/fast food: 5% - Cash +

Groceries: 3% - BCE

Gas: 3% - via gift cards at groceries stores (BCE)

Non-category: 2% - Priceline Rewards Visa

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Nice set of cards. Pretty much what I was using 2 months ago, before I applied for a Sallie Mae World MasterCard.