topic What is your favorite cash back credit card? in Credit Cards

Your Ideal Cashback/Rewards CC Lineup

Anonymous — Tue, 18 Feb 2020 22:46:29 GMT

Hi MyFico Fam,

Looking to gain some perspective on what you think is the ideal CC lineup to get the most out of everyday Cashback/Rewards Cards and why? How much can you earn and for what?

Thank you!

Re: Your Ideal Cashback/Rewards CC Lineup

Remedios — Tue, 18 Feb 2020 22:51:08 GMT

That's impossible to answer without knowing what kind of spend we're talking about and on what.

It kinda implies that there should be a card for everything, which without a large spend only dilutes rewards, especially when there are various minimum redemption threshold.

It wont do you much good if it takes 6 months to get to $25.00

Re: Your Ideal Cashback/Rewards CC Lineup

Anonymous — Tue, 18 Feb 2020 22:58:03 GMT

I wasn't trying to imply there is one card for everything, that is why I asked for a lineup. It's a to each their own, general question.

Re: Your Ideal Cashback/Rewards CC Lineup

pinkandgrey — Tue, 18 Feb 2020 22:58:08 GMT

Everyone's answer would be different of course, due to different spending patterns.

For me, I use my Citi DC for almost everything. But I also have the 3% for groceries on my Amex BCE and the 5% categories on the Disco It.

Re: Your Ideal Cashback/Rewards CC Lineup

KLEXH25 — Tue, 18 Feb 2020 23:09:37 GMT

I'm pretty happy with my lineup:

Citi Costco: 4% gas, 3% dining & travel, 2% Costco
Discover It: 5% rotating categories (groceries, dining, & Amazon are big for me)
Target RedCard (debit): 5% @ Target
PPMC: 2% for everything else

Ideally, I'd like a higher return on groceries, but 2% is better than nothing. Not sure it's worth another CC to get 1-2% more. Amazon would also be nice, but I don't spend THAT much there compared to my Target or Dining spend.

Re: Your Ideal Cashback/Rewards CC Lineup

Anonymous — Tue, 18 Feb 2020 23:25:11 GMT

Right now I have a Disco Miles that's in its first year so that's 3% on everything but here's my "regular" setup:

Amazon Store Card - 5% on Amazon and also on gift cards for other stores when I can use them

Target REDcard - 5% on Target and also on gift cards for other stores when I can use them

Discover It - 5% rotating categories - I generally only use groceries and PayPal (I can pay rent and come out ahead by 2.1%) and it doesn't get used otherwise, especially now that BT offers are gone from my card.

BBVA ClearPoints - 3X on utilities, 2X on groceries (I don't usually use it for groceries but they do targeted offers that boost that 2X to 5X so I leave that as my second category)

SavorOne - 3% dining and entertainment

Marvel - 3% on Steam and streaming services, haven't tested all of my other video game stores yet, will soon.

AMEX BCE - 3% on groceries (I have BCP right now but I'm facing a loss versus a 3% card so I'm downgrading when the AF hits in September)

Apple Card - 3% App Store, 3% Apple products

NFCU cashRewards/Capital One QS - interchangeable 1.5% cash back cards - I'll use NFCU for the Member Deals and QS for virtual cards. My spend is so optimized in general that I don't really use these much.

I have the PayPal Cashback but its going to get the axe as soon as I'm back to PIF in June. I'm not sure if I'll replace it with another 2% card or not - its not such a big difference over 1.5% that I think it will absolutely be worth it.

As Remedios points out, you have to make sure you're not dealing with a bunch of cards with minimum redemption thresholds. I only have two on the list that do - ClearPoints (takes me 4 months before I have enough to cash out although it does have a purchase eraser function that if I really wanted to liquidate my points, I could just use that on tiny purchases instead) and BCE (about 5 months to redeem) so its not too much fuss to deal with.

Re: Your Ideal Cashback/Rewards CC Lineup

Loquat — Tue, 18 Feb 2020 23:21:54 GMT

If you're looking for a cheaper than Chase/Amex way to covering all the bases then I'd consider a Citi setup. Sure they lack any of the most basic credit card features since September of last year but if you don't care about such things then there's value to be had with them.

Prestige - 5x on dining, airfare, and hotels, $250 travel credit which can be used for just about anything (i.e. airfare, hotels, car rental, parking, etc) and 4th night hotel stay is free (can be used twice a year) when booking through the TYPortal $495 annual fee

Premier - 3x on travel including gas stations $95 annual fee

Double Cash - 2x Can be converted to ThankYou points or redeemed for cash in $25 increments $0 annual fee

Rewards+ - 2x at grocery stores and gas stations plus points are rounded up to the nearst 10. Good card if one uses vending machines at work, stops for cheap gas station coffee, iTunes/Google Play app stores for small .99 cent apps $0 annual fee

Combine all of those cards into 1 ThankYou membership number and all points can be redeemed at 1.25cpp for airfare when booking through the ThankYou Portal courtesy of the Premier card.

$550 in annual fees covers just about every category out there and Chase nor Amex can be had in such a manner for cheaper. *** Keep in mind you'll be foregoing any travel/return protection with this setup.

Re: Your Ideal Cashback/Rewards CC Lineup

Anonymous — Tue, 18 Feb 2020 23:23:13 GMT

If we are talking one card, I'll just give you the one that covers the most.

Propel

Is a 3% gas card and a 3% restaurant card. Its 3% for parking and tolls. It's also a travel card, 3% on flights, hotels, and other travel related items. No annual fee.

It has Amex offers and Earn More Mall. $25 threshold, but you can pay for purchases with points. The offers and cash back stack. Pretty awesome card.

Re: Your Ideal Cashback/Rewards CC Lineup

TSlop — Tue, 18 Feb 2020 23:27:14 GMT

My ideal lineup:

CSR/CSP: 3%/2% travel and dining

CF: 5% rotating

Discover: 5% rotating

CFU: 1.5% everything else

My current:

CSP: 2% travel/dining

CF: 5% rotating

Discover: 5% rotating

PSECU: 2% everything else

When I complete my chase roundup, I figure I'll get more value out of 1.5% URs than 2% cashback.

Re: Your Ideal Cashback/Rewards CC Lineup

issac2x — Tue, 18 Feb 2020 23:32:14 GMT

Well if you're just starting out I'd go with Discover It miles for 3% first year for an everyday card and then PC it to the cash back version. Afterwards it'd be just mix and match to see what works and grow your portfolio from there.

For me if I was just focused on my usual spend then I'd choose UMB, Penfed, and US bank as my three main ones. Don't travel so cashback is my main thing and groceries/dining covers most of it. UMB covers groceries for me since I don't spend $60-61 to make Amex BCP worth it plus I shop at Walmart. UMB also covers dining as well. Then there's US bank for my 5% select bills and Penfed for 2% catch all.

But I have other cards as they give additional cashback, minute as they may be, plus other circumstances so that leads to my current sig

Re: Your Ideal Cashback/Rewards CC Lineup

wasCB14 — Wed, 19 Feb 2020 00:03:22 GMT

My strategy is a little in flux. Travel looks to be a bit less in upcoming months, and I have a lot of points/miles accumulated.

Exactly what value I should be assigning to MRs, Delta miles, or Hyatt points right now is a little unclear to me.

What is clear is that I won't go very wrong with occasional $500 SUBs, a 2.625% cash Visa is useful, and that I'm still using the perks on most of my AF travel cards.

I'm a bit on the fence about BofA Cash Rewards, though. No AF but a smaller SUB and quirky category caps. I could manage the card perfectly and it would still take several years to out-earn some other cards.

Re: Your Ideal Cashback/Rewards CC Lineup

JNA1 — Wed, 19 Feb 2020 00:40:58 GMT

I'm actually trying to build the lineup you're speaking of right now. I have a few cards that I wouldn't necessarily consider ideal, but the other 5 all see heavy spend and there's 3 or 4 more I'm looking to get to round out add to round out my lineup.

Discover It - 5% rotating categories. This is my first real card and I'm currently spending $400 - $500 per month at grocery stores until April.

AMEX BCP - 6% groceries, streaming services. Normally use for all grocery spend, but currently using for Wal Mart pickup and streaming until April.Usually spend $600-$700 monthly.

BBVA ClearPoints - 3% Utilities and Bills. Run all bills and utilities through this one. Currently spending around $1200 monthly except when BBVA has bonus categories.

PPMC - 2% Uncategorized spend. This is my catch-all card for now. Spending around $1500 monthly. Would rather have another card with better alerts.

PNC Cash Rewards - 4% gas, $3 Restaurants - We use this card for all gas and restaurants except when other cards have 5% or bonus categories. Normally spend is around $700 monthly.

DW's AMEX Cash Magnet - 5% cashback up to $10K within 6 months. This is not part of the ideal lineup long term, but we are going to use it until the 5% bonus is maxed out and to help build her credit profile and relationship with AMEX. Besides yielding $500 in cashback, we hope spending $10K makes it grow to a large CL and help her break out of the starter card status SLs.

Cards that I plan to add:

US Bank Cash + - 5% rotating - I'd use this card for utilities and cell phone service to compliment the BBVA card.

Alliant Platinum Rewards - 2% general - I want to build realtionships with a few good CU's and I'd use this card for a catch-all card.

NFCU Flagship - 3% travel and 2% general - We don't travel all that much, but when we do we never fly. We'd use this card for travel and attractions and for 2% general spend. I'd ideally like to have a few 2% to rotate out and split up spend instead of dumping it all one card.

PenFed Power Cash Rewards - 2% general - Pretty much same as Alliant and NFCU - would just like to have a great relationship with the CU. Our uncategorized spend is enough to spend $300 - $400 per month on several 2% cards, so we'll eventually do that to build relationships and great CLs.

I'd rather have nice profile based on 8 or 10 cards that I can grow to high limits and actually each card. I'm not so interested in getting a lot of cards that I won't use.

Re: Your Ideal Cashback/Rewards CC Lineup

AverageJoesCredit — Wed, 19 Feb 2020 00:48:34 GMT

Ideal cashback card would be no minimum redemption . Us LIErs hate $25

Re: Your Ideal Cashback/Rewards CC Lineup

Anonymous — Wed, 19 Feb 2020 00:53:42 GMT

@AverageJoesCredit wrote:
Ideal cashback card would be no minimum redemption . Us LIErs hate $25

Or in the case of More Rewards, $50.....

Re: Your Ideal Cashback/Rewards CC Lineup

AverageJoesCredit — Wed, 19 Feb 2020 00:59:06 GMT

@Anonymous wrote:
@AverageJoesCredit wrote:
Ideal cashback card would be no minimum redemption . Us LIErs hate $25

Or in the case of More Rewards, $50.....

Yikes!🤯

Re: Your Ideal Cashback/Rewards CC Lineup

JNA1 — Wed, 19 Feb 2020 01:03:40 GMT

I don't mind the redemption thresholds so much because I like to save up my cashback anyway. I can see that being a real nuisance if I was needing it though.

Re: Your Ideal Cashback/Rewards CC Lineup

Anonymous — Wed, 19 Feb 2020 01:11:36 GMT

@JNA1 wrote:
I don't mind the redemption thresholds so much because I like to save up my cashback anyway. I can see that being a real nuisance if I was needing it though.

I never save. As soon as the minimum is met, I redeem. I'm not going to have a devaluation or closed card cost me money.

Re: Your Ideal Cashback/Rewards CC Lineup

wasCB14 — Wed, 19 Feb 2020 01:14:50 GMT

@Anonymous wrote:
@JNA1 wrote:
I don't mind the redemption thresholds so much because I like to save up my cashback anyway. I can see that being a real nuisance if I was needing it though.
I never save. As soon as the minimum is met, I redeem. I'm not going to have a devaluation or closed card cost me money.

$1 today is better than $1 tomorrow. It can earn interest or pay down debt. Unless someone is redeeming for gift cards that may go on sale later, there's no reason to wait. Miles are more complicated because their value can be very different in the future.

I'm used to redeeming for flights and hotel rooms. If a $25 or $50 redemption threshold was a problem for me, I would take it as a sign that I was spreading my spend too thinly. I would use a simpler day-to-day wallet and maybe focus more on SUBs than minor category cards.

Re: Your Ideal Cashback/Rewards CC Lineup

Anonymous — Wed, 19 Feb 2020 01:21:20 GMT

I think I am in a good spot at this point. I travel on delta for work, and based in AA hub for all other trips, so I try to accumulate MR/Skymiles and AA miles. I do like the flexibility of UR and GF's 1.5cpp valuation, so I try to accumulate those as well. Lastly, cash back is always good to have as an option.

My spending is 20% flight (80% gc from amex gold, cic, cf, it, propel, wells visa, 20% on csR/propel/gold), 20% amazon (all gc), 30% grocery and dining (amex Gold), 30% non-cat (cfU and DC).

Re: Your Ideal Cashback/Rewards CC Lineup

JNA1 — Wed, 19 Feb 2020 01:34:12 GMT

@Anonymous wrote:
@JNA1 wrote:
I don't mind the redemption thresholds so much because I like to save up my cashback anyway. I can see that being a real nuisance if I was needing it though.
I never save. As soon as the minimum is met, I redeem. I'm not going to have a devaluation or closed card cost me money.

I dump my cashback into a dedicated account at my local CU, but I don't do it every month. I kinda got used to saving it up when I was waiting on my Disco cashback match, but I won't let it sit there too long.