topic Re: I'm waiting for a 4% anywhere card with no/low AF in Credit Cards

I'm waiting for a 4% anywhere card with no/low AF

Azza — Wed, 23 Dec 2020 02:45:30 GMT

So, I've been gardening. Have a couple of inqs about to drop off and boost me up around 800+ in the next five or six months. Been really eyeballing the Amex Gold because I want a charge card that offers competitive points, but I have cards that are already "good enough" that have no annual fee like the Citi Costco card, or the Discover IT, or even my lowly Alliant 2% card.

So. I think I've decided that I'm going to wait until a 4% anywhere comes along that doesn't gouge me with an AF. The Amex Gold AF is pretty high when compared to where I am spending (I already get 2~10% back at grocery stores using my Alliant or SquareCash Cash Card, and 3% with Citi Costco card) and I don't have to "overcome" the limits of an annual fee first.

So yeah, I was browsing the forum here—I love reading about the latest card happenings—and I realized that hoping for the next good card is kind of a bad addiction that has me twitching to open a new card, so I'm putting off any desires for a new card for now until that 4% w/ 0 AF comes along. heh.

here we goooo haha who am i kidding, i guess i'm never opening a new credit card again

Re: I'm waiting for a 4% anywhere card with no/low AF

KJinNC — Wed, 23 Dec 2020 02:56:02 GMT

I think you will be waiting a while, but, good luck!

I don't really see Amex Gold and Citi Costco as near-equivalents. I like them both, but use them for different things. In my case, I get a $100/year statement credit for Gold, so the AF I have to overcome is $150 instead of $250. Otherwise, I probably wouldn't keep it. YMMV.

Re: I'm waiting for a 4% anywhere card with no/low AF

trant3 — Wed, 23 Dec 2020 03:04:30 GMT

This will never happen

Re: I'm waiting for a 4% anywhere card with no/low AF

JNA1 — Wed, 23 Dec 2020 03:39:30 GMT

The unlimited 3% AOD card is the probably the closest you're going to get to that. The other route is to get several 5% cards to cover your highest spend categories. The US Bank Cash + and Elan Max Cash are 2 that have 2 selectable 5% categories that you get to choose each quarter.
I have the AOD card and I'm working towards getting the 5% cards listed above.

Re: I'm waiting for a 4% anywhere card with no/low AF

TheBoondocks — Wed, 23 Dec 2020 03:43:59 GMT

@KJinNC wrote:
I think you will be waiting a while, but, good luck!

I don't really see Amex Gold and Citi Costco as near-equivalents. I like them both, but use them for different things. In my case, I get a $100/year statement credit for Gold, so the AF I have to overcome is $150 instead of $250. Otherwise, I probably wouldn't keep it. YMMV.

A $100/y statement credit, how?

Re: I'm waiting for a 4% anywhere card with no/low AF

Anonymous — Wed, 23 Dec 2020 03:56:27 GMT

Wishful thinking regarding a 4% card for everything since most speculate that 3% on everything isn't sustainable and it's always a matter of time before one (like AOD) nerfs it.

Re: I'm waiting for a 4% anywhere card with no/low AF

FinStar — Wed, 23 Dec 2020 03:56:39 GMT

@TheBoondocks wrote:
@KJinNC wrote:
I think you will be waiting a while, but, good luck!

I don't really see Amex Gold and Citi Costco as near-equivalents. I like them both, but use them for different things. In my case, I get a $100/year statement credit for Gold, so the AF I have to overcome is $150 instead of $250. Otherwise, I probably wouldn't keep it. YMMV.
A $100/y statement credit, how?

Via Corporate Advantage Program.

Re: I'm waiting for a 4% anywhere card with no/low AF

notmyrealname23 — Wed, 23 Dec 2020 06:38:02 GMT

This is definitely the place to keep a lookout for it, but a 4% card with no AF would be a bank's way of losing money on every sale but making up for it in volume.

(It would be ruinously unprofitable without a big increase in interchange fees, and funny thing, banks like making money.)

Re: I'm waiting for a 4% anywhere card with no/low AF

mkhan1093 — Wed, 23 Dec 2020 07:03:54 GMT

As others have said, don't hold your breath for no AF and 4% back everywhere. Interchange fees are where most of the cashback comes from so 4% is already greater than that. There were 4% CB cards like the original Barclays Uber, but that was on dining, so they were hoping that "regular people" (who don't lurk here ) who only have 1 or 2 daily driver cards would use the Uber card for non-dining and they'd be able to recoup. Since you're looking for a card where 4% back isn't anything special, users are going to have to subsidize it via AF or something else.

Re: I'm waiting for a 4% anywhere card with no/low AF

kdm31091 — Wed, 23 Dec 2020 11:01:58 GMT

4% everywhere with no AF seems like it would never happen. Interchange fees are what they are, and banks want to make money. Without fees increasing, a 4% cash back card would just be a money loser. It would have to have a very limited customer base (i.e. a restricted credit union), high annual fee, or both. I think 3% is the highest you'll see for general spending and even that is IMO unlikely to last.

Re: I'm waiting for a 4% anywhere card with no/low AF

AverageJoesCredit — Wed, 23 Dec 2020 11:20:08 GMT

Im waiting for a 4th Navy Federal credit card🦄🦄🦄🦄

Re: I'm waiting for a 4% anywhere card with no/low AF

Anonymous — Wed, 23 Dec 2020 12:10:10 GMT

There are such offers for a limited time. In 2019, Citizen Bank had an uncapped 5% on everything until a certain date (same for everyone), so you could have had about 9 months if you got the card at the right time. If enough banks had similar offers, you could maybe luck out for quite a while!

Re: I'm waiting for a 4% anywhere card with no/low AF

pinkandgrey — Wed, 23 Dec 2020 12:56:28 GMT

We're all waiting for that lol.

Re: I'm waiting for a 4% anywhere card with no/low AF

fatcomic — Wed, 23 Dec 2020 14:02:19 GMT

We are all wating for that...

Re: I'm waiting for a 4% anywhere card with no/low AF

Wavester64 — Wed, 23 Dec 2020 16:16:30 GMT

@trant3 wrote:
This will never happen

I tend to agree. I hate to say never - but if it does happen - won't be for a LONG time.

Re: I'm waiting for a 4% anywhere card with no/low AF

Credit12Fico — Wed, 23 Dec 2020 16:34:58 GMT

In theory a card like this could exist with no af. But I bet the caveat is that purchases collect interest as soon as they post.

Re: I'm waiting for a 4% anywhere card with no/low AF

PullingMeSoftly — Wed, 23 Dec 2020 17:02:12 GMT

If a flat 4% card were to exist I would think it would be tied to a substantial assets requirement for the particular FI. Like Fidelity for example, requiring a million+ to get 3% on their card, or BoA requiring $100k for platinum honors (for a selectable 5.25% category), or Schwab and Morgan Stanley requiring asset placement for waiving/partially waiving Amex Plat AF's.

Re: I'm waiting for a 4% anywhere card with no/low AF

blindambition — Wed, 23 Dec 2020 17:10:22 GMT

If you're gonna dream, dream big...

I won't say it'll never happen, but highly unlikely. Certainly won't happen in this financial climate. Not profitable or sustainable for a lender.

We've seen CU test the 3%, and most have bit the dust. AOD seems to be the only one to actively market theirs.

Re: I'm waiting for a 4% anywhere card with no/low AF

Kforce — Wed, 23 Dec 2020 18:09:00 GMT

@kdm31091 wrote:
4% everywhere with no AF seems like it would never happen. Interchange fees are what they are, and banks want to make money. Without fees increasing, a 4% cash back card would just be a money loser. It would have to have a very limited customer base (i.e. a restricted credit union), high annual fee, or both. I think 3% is the highest you'll see for general spending and even that is IMO unlikely to last.

I have apprehension opening every email from my 3% card, thinking it might be the end.

So far it has been advertising and monthly news letters.

Nine months and years end, so I now have my fingers crossed.

The 3%, everywhere, no limit, no AF is my favorite card.

Will miss it even more than my 2 Sallie Mae cards.

Hope it's demise is a ways off, but have kept my backup set alive for when it does.

Don't see 4% happening, but it would be nice

Re: I'm waiting for a 4% anywhere card with no/low AF

JNA1 — Wed, 23 Dec 2020 18:12:38 GMT

@AverageJoesCredit wrote:
Im waiting for a 4th Navy Federal credit card🦄🦄🦄🦄

👍👍

The NFCU Plutonium card!

"It's the bombdiggity!" 😂😂