topic Re: Cashback Strategy in Credit Cards

Cashback Strategy

MakingProgress — Tue, 12 Feb 2019 17:43:20 GMT

I listed my strategy for cashback on the thread with my recent approvals, but I thought I would also list it here and see if anyone has any future suggestions for me to maximize my rewards. The only thing I can possibly think of is the Chase Freedom for an additional catagory card, but I'm not really sure I need it with my the catagories I have covered already.

I don't travel much and when I do it is usually by car, so I am not looking at travel cards just cashback at this time.

Gas - 5% on Ducks Unlimited

Utilities and Cell Phone - 5% on Cash+

Amazon Purchases - 5% on Chase Amazon Prime Visa

Dining - 4% on Uber

Travel; - 3% on Uber

Grocery - 3% on BCE, most of my grocery spend is at walmart which dosen't code as grocery so BCP wouldn't be worth the AF.

Rotating Catagories - 5% on Discover

General Spend - 2% on Citi Dc

Kids are au on Cap One QS so I get 1.5% back on their usage otherwise QS is sock drawered.

I will not be under 5/24 until 2/20.

Re: Cashback Strategy

Anonymous — Tue, 12 Feb 2019 17:47:26 GMT

@MakingProgress wrote:

I listed my strategy for cashback on the thread with my recent approvals, but I thought I would also list it here and see if anyone has any future suggestions for me to maximize my rewards. The only thing I can possibly think of is the Chase Freedom for an additional catagory card, but I'm not really sure I need it with my the catagories I have covered already.

I don't travel much and when I do it is usually by car, so I am not looking at travel cards just cashback at this time.

Gas - 5% on Ducks Unlimited
Utilities and Cell Phone - 5% on Cash+
Amazon Purchases - 5% on Chase Amazon Prime Visa
Dining - 4% on Uber
Travel; - 3% on Uber
Grocery - 3% on BCE, most of my grocery spend is at walmart which dosen't code as grocery so BCP wouldn't be worth the AF.
Rotating Catagories - 5% on Discover
General Spend - 2% on Citi Dc

Kids are au on Cap One QS so I get 1.5% back on their usage otherwise QS is sock drawered.

I will not be under 5/24 until 2/20.

Add the Paypal MC and Business debit, to get 3% on stuff not covered elsewhere. And you could add other 5% rotators, Freedom, DIvidend and the CU one. (OK, not Freedom as 5/24)

Re: Cashback Strategy

Anonymous — Tue, 12 Feb 2019 17:58:15 GMT

I thought I was the only one!

I get out a marker, and write on the front of the cards what I use them for. Discover I use for anything I do not use others for.

Gas: CITI American Airlines 2X-$1.00 on fuel.

Eating Out: Citi

Grocery: AMEX

I try to only use a few cards.

Re: Cashback Strategy

Anonymous — Tue, 12 Feb 2019 18:03:39 GMT

Just a note on Walmart grocery - if the Walmart store in your area offers grocery pick-up, that codes as ‘grocery’ for AMEX.

Re: Cashback Strategy

Anonymous — Tue, 12 Feb 2019 18:05:36 GMT

Even though WMT is not coded as grocery, many local stores can be used for online walmart grocery purchase, which is coded as grocery.

I use Amex Gold for grocery/dining, and Propel for travel.

Re: Cashback Strategy

MakingProgress — Tue, 12 Feb 2019 18:17:00 GMT

@Anonymous wrote:
I thought I was the only one!

I get out a marker, and write on the front of the cards what I use them for. Discover I use for anything I do not use others for.

Gas: CITI American Airlines 2X-$1.00 on fuel.
Eating Out: Citi
Grocery: AMEX

I try to only use a few cards.

Which Citi and Amex cards, what are rewards, and is it cash back or points? I am not sure I unerstand the 2X-$1.00 on fuel, what do you mean by that?

Re: Cashback Strategy

Anonymous — Tue, 12 Feb 2019 18:17:11 GMT

I’ve also got to mention the Target store card for 5% off, at the register, if you shop there. Personally, I didn’t realize how much was spent there until I actually looked at it specifically. At that point, it made no sense to pass on that 5% savings.

Re: Cashback Strategy

Anonymous — Tue, 12 Feb 2019 18:19:52 GMT

@MakingProgress wrote:

I listed my strategy for cashback on the thread with my recent approvals, but I thought I would also list it here and see if anyone has any future suggestions for me to maximize my rewards. The only thing I can possibly think of is the Chase Freedom for an additional catagory card, but I'm not really sure I need it with my the catagories I have covered already.

Looks like you've about covered it! You could squeeze out a few more with Chase Freedom. The downside to that is that you are spreading your rewards out thinner by adding more cards. Is that worth it?

I'd say roll with this for a while and see how it goes.

Re: Cashback Strategy

MakingProgress — Tue, 12 Feb 2019 18:18:52 GMT

@Anonymous wrote:
Just a note on Walmart grocery - if the Walmart store in your area offers grocery pick-up, that codes as ‘grocery’ for AMEX.

I am aware that pickup codes as grocery for Amex, but pickup is not my style. I don't want walmart substituting out of stock items for me. I want to make the decision of what or if I substitute.

Re: Cashback Strategy

Stribe — Tue, 12 Feb 2019 19:04:46 GMT

@MakingProgress wrote:
@Anonymous wrote:
I thought I was the only one!

I get out a marker, and write on the front of the cards what I use them for. Discover I use for anything I do not use others for.

Gas: CITI American Airlines 2X-$1.00 on fuel.
Eating Out: Citi
Grocery: AMEX

I try to only use a few cards.
Which Citi and Amex cards, what are rewards, and is it cash back or points? I am not sure I unerstand the 2X-$1.00 on fuel, what do you mean by that?

The Citi AAdvantage Card (American Airlines) gives you 2 miles for every dollar on fuel

Re: Cashback Strategy

issac2x — Wed, 13 Feb 2019 06:15:29 GMT

You've got pretty much everything covered OP. Like @Anonymous mentioned PP business debit w/ PP 2% if you want to cover all bases and another 5% rotating if you want to branch out further.

Since you do most of your shopping at Walmart like me you could try for UMB or one of their affinities in the future once your TU becomes 5/24 or under. Had this card for a month now and it's been great for 3% cashback in store with the only downsides being 45 day wait for cb to be applied as statement credit and points expiring in 5 yrs.

Re: Cashback Strategy

Anonymous — Wed, 13 Feb 2019 08:16:19 GMT

The only thing I could think of is the Savor One for entertainment categories (3%)

If you have significant spending in your entertainment categories - movie tickets, concerts, touist attractions, theme park, zoo, aquarium, club, bar, bowling alley, stadium tickets, then this card would give you a slight better reward rate, apart from having a no foreign transaction no annual fee mastercard

#OCD

Re: Cashback Strategy

Anonymous — Wed, 13 Feb 2019 12:42:43 GMT

My Walmart codes as groceries even for in store purchases(bofa cash rewards).
And they do offer groceries pick up.

Re: Cashback Strategy

UncleB — Wed, 13 Feb 2019 14:31:43 GMT

@MakingProgress wrote:
@Anonymous wrote:
Just a note on Walmart grocery - if the Walmart store in your area offers grocery pick-up, that codes as ‘grocery’ for AMEX.
I am aware that pickup codes as grocery for Amex, but pickup is not my style. I don't want walmart substituting out of stock items for me. I want to make the decision of what or if I substitute.

I hear ya on picking out items yourself... I feel the same way.

I just wanted to mention that the one time I used Walmart Grocery (pickup) due to a promo I did end up with an item substituted, but they give you the option if you want it or not.

In my case I didn't (it was quite different) and they were able to use their hand device to take it off my ticket on-the-spot, easy peasy.

Re: Cashback Strategy

kdm31091 — Wed, 13 Feb 2019 14:55:45 GMT

I would just be mindful of spreading out too thin. Depending on your monthly spend in each given category, it may not be worth adding more and more cards. Many programs have redemption thresholds which you could have trouble reaching if you are using each card for only one or two expense categories. Just something to think about. Don't over-optimize.

Re: Cashback Strategy

MakingProgress — Wed, 13 Feb 2019 16:06:29 GMT

@kdm31091 wrote:
I would just be mindful of spreading out too thin. Depending on your monthly spend in each given category, it may not be worth adding more and more cards. Many programs have redemption thresholds which you could have trouble reaching if you are using each card for only one or two expense categories. Just something to think about. Don't over-optimize.

I agree I think I am at about the saturation point now. Since I am over 5/24 for a while I have time to decide if I want a Freedom later. I just wanted to make sure I wasn't missing something obvoius.

I don't think the savor is necessary, I am going to get the 4% on dining from Uber and I don't spend enought on other entertainment to worry about an extra 1% especially with a $95 AF.

As for walmart pickup. I forgot to mention I hate all drive up/drive thru's. I avoid them at all costs.

Re: Cashback Strategy

Anonymous — Wed, 13 Feb 2019 16:09:49 GMT

@kdm31091 wrote:
I would just be mindful of spreading out too thin. Depending on your monthly spend in each given category, it may not be worth adding more and more cards. Many programs have redemption thresholds which you could have trouble reaching if you are using each card for only one or two expense categories. Just something to think about. Don't over-optimize.

That's really why for CB I am pushing the paypal + debit solution. No minimum on the CC side, (but you need $100 a month spend to get the debit reward, which is a fairly low threshold). This means you only need to consider cards that give above 3% CB in various categories like dining or travel.

Re: Cashback Strategy

Anonymous — Wed, 13 Feb 2019 16:54:23 GMT

I’m cashback too and PPBDC 3% combo has made things quite simple...

Re: Cashback Strategy

Anonymous — Sat, 09 Mar 2019 15:25:13 GMT

Alliant Cashback Visa Signature has been an excellent workhorse as my everything-else card. 3% on everything first year w/no fee, 2.5% on everything thereafter for a $59 AF - nets at least 2.01% if you spend over $11,800 annually. I've used it to fund numerous bank accounts without it ever coding as a cash advance, helping me hit that $11.8k without needing that much organic spend. Plus no FTF.

Plus plus, they have a flat 2% card for no AF to which you can downgrade after that first 3% year.