topic Re: Lowest APR with 2% cash back in Credit Cards

Lowest APR with 2% cash back

Anonymous — Thu, 23 Aug 2018 17:54:32 GMT

I'm looking for a list of cards that have the lowest APR and offer 1.5% or more cash back. I understand the debate that you shouldn't carry a balance on a reward card because it defeats the purpose. Some months I charge 2500 and only pay 2k towards it. For the months that I do carry a small balance; what credit cards offer the lowest APR, highest cash back rewards, and no annual fee? Also, this list is for regular APR, not intro APR's.

I started a list.

Penfed Power Cash - 11.74% APR and 2% cash back

BECU - Cashback - 11.65% APR and 1.5% cash back.

NFCU - Cash rewards - 11.4% APR and 1.5% cash back

Re: Lowest APR with 2% cash back

Anonymous — Thu, 23 Aug 2018 18:16:19 GMT

Running a balance, even at 11.74%, eats all your cash back and then some. No bueno.

Re: Lowest APR with 2% cash back

K-in-Boston — Thu, 23 Aug 2018 18:19:31 GMT

Effective in just a few weeks:

NFCU Flagship Rewards is also 11.74% and earns 2x on all purchases and 3x on travel. Even discounting the 3x on travel entirely, you'd only need to spend $10k a year for that to be a better option than Cash Rewards.

I was going to mention Citi Couble Cash since the last time I was prequalified for it, my rate was 12.24% but now I've seen that the floor has been raised to 15.24% (partially due to increases in the Prime Rate).

Re: Lowest APR with 2% cash back

Adkins — Thu, 23 Aug 2018 18:24:45 GMT

RBFCU MasterCard - 11% apr and 2% cashback

Re: Lowest APR with 2% cash back

K-in-Boston — Thu, 23 Aug 2018 18:28:13 GMT

@Anonymous wrote:
Running a balance, even at 11.74%, eats all your cash back and then some. No bueno.

Technically, just paying the minimum payment each month, you could carry the balance for 4 months on a 1.5% card or 5 months on a 2% card before the interest amount exceeded the rewards. In general, yes it is a bad idea to mix balances with rewards cards, though. As a short-term solution it can be better than carrying it on a low-APR no-frills card.

Re: Lowest APR with 2% cash back

minski — Thu, 23 Aug 2018 21:22:11 GMT

Premier Members CU Privileges Reward Mastercard - 1.5x points - fixed 8.45% APR

Re: Lowest APR with 2% cash back

Namaste7 — Fri, 24 Aug 2018 00:47:20 GMT

@Anonymous wrote:
I started a list.
Penfed Power Cash - 11.74% APR and 2% cash back
BECU - Cashback - 11.65% APR and 1.5% cash back.
NFCU - Cash rewards - 11.4% APR and 1.5% cash back
SDFCU - as low as 10.99% APR and 2% cash back | No AF | NO FTF | NO BT fee | Chip+Pin | Pyramiders and churners need not apply

SDFCU released a 2% card earlier this year. SDFCU is highly conservative but highly generous to those that can garner an approval.

If you need to carry a balance, credit unions will probably offer the lowest rates and their non-cash reward cards have even better rates. For example, SDFCU's "points" CC rates are as low as 8.74%.

IMHO, carrying balances on a 0% or low-rate BT offer is the best scenario.