topic What is the best cash back/rewards card out right now? in Credit Cards

What is the best cash back/rewards card out right now?

mjr2444 — Mon, 28 Dec 2015 06:18:16 GMT

I feel like I'm losing out as I am self-employed and normally run up 200-250k in purchases per year for the business (so I'm looking for rewards on ALL purchases as extra rewards on gas/groceries does no good). Any advice? I would obviously pay it all off every month so APR probably wouldn't matter. Thanks.

Re: What is the best cash back/rewards card out right now?

Shogun — Mon, 28 Dec 2015 06:28:47 GMT

So are you looking for a business credit card?

Re: What is the best cash back/rewards card out right now?

Nova5041 — Mon, 28 Dec 2015 06:38:08 GMT

There are a few good cards out there, but I would suggest the: Chase Ink card, Amex BCE card or the Capital One Quicksilver card. Just my 2 cents.

Re: What is the best cash back/rewards card out right now?

takeshi74 — Mon, 28 Dec 2015 14:21:13 GMT

Best is always highly subjective. What category/ies are the majority of the spend in? For non-cash back rewards programs you have to consider the redemption methods you can use with a given rewards program and how that impacts rewards value. You'll need to provide a lot more information so we can understand what your requirements are in order to suggest a "best" solution.

Cash back comparisons are easy. All you have to do is multiply your spend by the earn rate to compare for yourself. You'll have to do some more digging for miles/points rewards programs.

Re: What is the best cash back/rewards card out right now?

Anonymous — Mon, 28 Dec 2015 15:08:50 GMT

If you like travel, Chase Ink+ and AmEx Everyday Preferred are pretty great point accumulators.

At your level of spend, the AmEx Starwood Preferred Guest and Starwood Preferred Business are viable for all spend. United Club Card is also good at high spend levels, if you live near one of their hubs.

For regular cashback: ink+ or ink cash, discover it and chase freedom, amex blue cash preferred, citi doublecash or capital one quicksilver.

Or of course, if you just want great service at a high price, run all your spend through an AmEx Platinum and try to get a Centurion invite.

Re: What is the best cash back/rewards card out right now?

Mattopotamus — Mon, 28 Dec 2015 15:32:41 GMT

If you want the best straight up cash back rewards it would be the doublecash, 1% when you purchase and 1% when you pay it off. If you have travel expenses you should really look into the Chase Sapphire Preferred card or Arrivals+. The freedom and Shapphire could be a really good combo to have. The freedom will give you 5% in certain catergories, which your business expenses may fall under. A little more info about your expenses can help narrow down the best card.

Re: What is the best cash back/rewards card out right now?

Anonymous — Mon, 28 Dec 2015 15:40:19 GMT

@Nova5041 wrote:
There are a few good cards out there, but I would suggest the: Chase Ink card, Amex BCE card or the Capital One Quicksilver card. Just my 2 cents.

No idea why the BCE would be recommended, basically a 1% card outside the categories. QS would make sense if there are foreign expenses, otherwise a 2% card, at this level of spend, would be significantly better.

I would add the Discover IT Miles for the first year, to get 3%, if the merchants you use take Discover

Re: What is the best cash back/rewards card out right now?

Noctilum — Mon, 28 Dec 2015 16:25:42 GMT

Not sure how big your cell phone bill is but USBank Cash+ will allow 5% for that. I get about $20 a month back for using it. There may be another 5% category that could be useful to you.

Re: What is the best cash back/rewards card out right now?

SouthJamaica — Mon, 28 Dec 2015 18:11:40 GMT

@mjr2444 wrote:
I feel like I'm losing out as I am self-employed and normally run up 200-250k in purchases per year for the business (so I'm looking for rewards on ALL purchases as extra rewards on gas/groceries does no good). Any advice? I would obviously pay it all off every month so APR probably wouldn't matter. Thanks.

I recommend the Capital One Spark, with 2% cash back. It's a business card.

I don't know why people are recommending personal credit cards to you, you should be using a business card for your business purchases.

Re: What is the best cash back/rewards card out right now?

Anonymous — Mon, 28 Dec 2015 21:08:21 GMT

Depending on your credit scores, you have lots of options. Assuming you are looking for a business card, chase ink and amex have great business cards. Get a Chase Sapphire Preferred card for regular dining and the chase ink for business related expenses. I don't have much experience with Business cards but there are some people on here that do. As for non-business, as you can see in my profile, I have a card for just about everything. My main cards right now are my Citi Prestige and Amex BCP. I'll start using my CSP alot more now, just because, and use the Freedom for whatever rotating category is in. But my BCP card is pretty stellar in my opinion for groceries and gas, it more than pays for the annual fee.

Re: What is the best cash back/rewards card out right now?

Anonymous — Mon, 28 Dec 2015 21:18:41 GMT

For business cards I recommend Chase Ink Plus or Cash and Amex SimplyCash. I dont think its really necessary to get a CSP with an AF solely for dining if one also has an Ink since both offer 2x dining but I could be missing something?

If you would prefer business cards not reporting on your personal credit then Cap One is not an option (option, not my recommendation) if thats not a concern then feel free to browse their selection.

Re: What is the best cash back/rewards card out right now?

Themanwhocan — Tue, 29 Dec 2015 00:02:04 GMT

@SouthJamaica wrote:
@mjr2444 wrote:
I feel like I'm losing out as I am self-employed and normally run up 200-250k in purchases per year for the business (so I'm looking for rewards on ALL purchases as extra rewards on gas/groceries does no good). Any advice? I would obviously pay it all off every month so APR probably wouldn't matter. Thanks.
I recommend the Capital One Spark, with 2% cash back. It's a business card.

I don't know why people are recommending personal credit cards to you, you should be using a business card for your business purchases.

Exactly. With such a large amount of spend, you want a business card. And cash back is as straightforward and simple as it gets.

Re: What is the best cash back/rewards card out right now?

mjr2444 — Tue, 29 Dec 2015 00:26:46 GMT

Hey guys, thanks for the replies. Yes, I prefer straightforward cash back. I assume 2% is about as good as I will get? Not sure it matters too much in terms of business versus personal CC.....as long as the credit limit is high enough each month (am I assuming that with good credit, a business card will get me a higher balance than a personal card)? Like I said, I'd pay the full balance off each month....so even if the business card reported to my personal credit, it would not be an issue (then again, maybe I don't want that....as I might get denied on a personal CC if they saw I always had a $10-15k monthly balance on my business card. Even if I pay it every month, by the time that's reported to the bureaus...I will have ran up another $10-15k for the new month).

Re: What is the best cash back/rewards card out right now?

Blackbeauty212 — Tue, 29 Dec 2015 02:13:46 GMT

Ink Cash, or Cap One Spark Cash .... Are the best Business Cash Back cards .....

Spark Cash is 2% catch all (Everyday) Card, all 2% upfront once purchase posts to the account. No waiting 2 months to get all 2% like a Personal Double Cash. Spark does have an AF, but with amount of spend you're planning to put through the card ...59$ AF pays for itself then some. No FTF .... And Cap One just doesn't hassle you like other lenders.

Ink Cash has Rotating Cats.... Sounds like you don't really want to play those games .... Like me, you want the Most Simplistic Pure Cashback, knowing when you swipe your card regardless of where when or for how much your gaining a static 2% CB.

Yep Cap One Spark Cash.... Is calling your name, IMO.

Re: What is the best cash back/rewards card out right now?

Anonymous — Tue, 29 Dec 2015 02:21:12 GMT

Ink Cash does not have rotating categories...

Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on cellular phone, landline, internet and cable TV serviceseach account anniversary year.*

Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year.*

Earn 1% cash back on all other purchases—with no limit to the amount you can earn.*

Re: What is the best cash back/rewards card out right now?

mjr2444 — Tue, 29 Dec 2015 04:16:49 GMT

Yeah, Spark Cash seems to be what I am looking for....

Re: What is the best cash back/rewards card out right now?

mjr2444 — Tue, 29 Dec 2015 04:30:16 GMT

Just applied and was approved with $20k credit, thanks guys!

Re: What is the best cash back/rewards card out right now?

OmarGB9 — Tue, 29 Dec 2015 07:28:29 GMT

Grats!

Re: What is the best cash back/rewards card out right now?

SouthJamaica — Tue, 29 Dec 2015 13:03:29 GMT

@mjr2444 wrote:
Just applied and was approved with $20k credit, thanks guys!

Use it in good health I've had mine for 3 1/2 years, and it's my most useful card.

Re: What is the best cash back/rewards card out right now?

core — Tue, 29 Dec 2015 21:10:10 GMT

Why all the fuss over putting business expenses on a personal credit card? So far all I've heard is vague reasons like "you shouldn't" or "with all that spend..." etc.

The card that gets a purchase is the one that pays me the most for that purchase. Sometimes it's a business card, but often times the personal card is a way better deal. With a business card you have fewer protections. And commingling your expenses gives you more "flexibility" come tax time.

I think the ones who want business owners to only use business credit cards are 1) credit card companies, 2) auditors. Neither of which get any sympathy from me.

Think about who you're really making life simpler for. It's not necessarily you.