topic Re: Need a good daily driver catch all card... in Credit Cards

Need a good daily driver catch all card...

summerterrace — Thu, 25 Mar 2021 00:12:24 GMT

Choices are:

Navy Federal Cash Rewards 1.5% on everything, $150 SUB (I'm a member and pre-approved).

Pen Fed Power Cash Rewards 1.5% on everything, $100 SUB (I'm a member and pre-approved, also if I want to open a checking account I could get 2% but not sure I want another checking account)

Chase Freedom Unlimited- 1.5% on everything (have CSP), could do a product change from another card (like the Freedom I don't use)

AmEx Magnet- 1.5% on everything, $200 sub (don't have any AmEx cards so this would be first).

Torn between these options. Any experiences or feedback on any of these cards? The spend won't be a problem to hit for any of the SUBs.

Re: Need a good daily driver catch all card...

JNA1 — Thu, 25 Mar 2021 01:19:29 GMT

We have the NFCU cashRewards and AMEX Cash Magnet and both are fine, but we rarely use either that much because of the 1.5% rewards system. We got a great SUB with Cash Magnet and we used the 0% (and $150 SUB) on the cashRewards card for a while, but neither are in our normal rotation now.
Of your choices, I'd go with the PCR, but I'd open the check account to make it a flat 2% card. If 1.5% is fine for you, I'd probably go with the NFCU cashRewards just because of NFCU's awesome customer service and their generous credit lines.

Re: Need a good daily driver catch all card...

Ficoproblems247 — Thu, 25 Mar 2021 01:36:10 GMT

I like the 2% vs the 1.5%. I have the Citi DC, but it's pretty lackluster if you're looking for anything other than a basic card that will get you 2%. I like that it can direct deposit my rewards into my main FI. As I understand it you can earn some nice stackable rewards with Chase if you're bought into their UR program and redeem through their travel portal. I think you get better return with the CSR than the CSP though, but someone more knowledgeable needs to comment on that. I know that the FU/sapphire combo can be a nice earner for those that do it right from what I've read.

Re: Need a good daily driver catch all card...

ccquest — Thu, 25 Mar 2021 01:51:00 GMT

I'd park $500 at PenFed and make it a 2% catch all card, that's what I do at least.

Re: Need a good daily driver catch all card...

kerplunk — Thu, 25 Mar 2021 02:28:56 GMT

I've been using the Navy Federal Flagship Rewards card as my primary card for nearly a year and it's been wonderful.

Re: Need a good daily driver catch all card...

summerterrace — Thu, 25 Mar 2021 02:45:06 GMT

@kerplunk wrote:
I've been using the Navy Federal Flagship Rewards card as my primary card for nearly a year and it's been wonderful.

I am approved for that one too but the Amazon Prime SUB is meh... and I'm not super hyped about the $49 annual fee, when I can go to Pen Fed and get 2% for no annual fee...

I will have to go look at it again. LOL

Re: Need a good daily driver catch all card...

summerterrace — Thu, 25 Mar 2021 02:48:19 GMT

@ccquest wrote:
I'd park $500 at PenFed and make it a 2% catch all card, that's what I do at least.

Considering this but I already have 2 other checking accounts so I don't want it to get to be too much manage. I do have a high yield savings at Pen Fed though..

Re: Need a good daily driver catch all card...

Anonymous — Thu, 25 Mar 2021 03:03:30 GMT

@summerterrace wrote:
@ccquest wrote:
I'd park $500 at PenFed and make it a 2% catch all card, that's what I do at least.
Considering this but I already have 2 other checking accounts so I don't want it to get to be too much manage. I do have a high yield savings at Pen Fed though..

Basically, if it's worth spending time getting 1.5% rewards (and for low spend it probably isn't), it's 33% more worth getting 2%. Opening a checking account isn't that big of a deal, especially with this there is no need to actually use it, just park $500. You get some interest, 0.15%

To do some basic math, with say a Paramount checking account, you could earn 0.7% more, so you are losing $3.50 a year in interest compared to that. If you spend more than $700 a year with the credit card, the extra 0.5% earned will more than make up for it.

Re: Need a good daily driver catch all card...

TSlop — Thu, 25 Mar 2021 03:10:01 GMT

The CFU currently has 3% on dining/drugstores and 5% on travel (through the Chase portal) to go along with the base 1.5% on everything else. The CFU pairs well with the CSP, which is what I do, and I transfer all my URs to the CSP every month. It also has a SUB of $200, which I would personally take over a PC.

Re: Need a good daily driver catch all card...

coldfusion — Thu, 25 Mar 2021 03:29:33 GMT

There have been a number of good choices listed - any 1.5% or 2% cashback Visa or Mastercard with no AF and no FTF would be a viable choice. Personally I would lean toward a NFCU Cash Rewards or PenFed Cash Rewards card, but really it's hard to go wrong with pretty much any of the other suggestions made.

Re: Need a good daily driver catch all card...

Azza — Thu, 25 Mar 2021 08:14:57 GMT

What a out Citi Costco card? I know it's not in your list, but it covers a lot of categories with no limits.

4% on gas, 3 on on dining and travel, 2 on actual Costco shopping and 1 everywhere else.

Despite that it's not a true "catch-all" card, when combined with a 2% cb card, it's a force to be reckoned with, imo.

Re: Need a good daily driver catch all card...

fatcomic — Thu, 25 Mar 2021 12:56:31 GMT

The Chase Freedom Unlimited gives you 1.5% cash back on most purchases and 3% cash back on dining and drug stores. There is no minimum cash back redemption amount with Chase. If you're looking at just earning cash back with fewest hoops to jump through, the Chase FU offers more cash back opportunity, unless you do the qualifications for the PenFed 2%.

As @Ficoproblems247 also mentioned the Citi Double Cash gives you 2% as well (1% on purchases and another 1% when you pay it off), however you have to put roughly $1,250 spend on the card to earn the minimum $25 cash back redemption (if you don't reach $25, the balance does carry over each month until you earn enough to redeem). You don't have to open any checking account with Citi to get the 2% but it is pretty lackluster as far as features and benefits on the card, no cell phone protection, no bells and whistles etc. I've had the Citi DC card 6 years and ran it as our primary card up until last year, with no complaints. I wasn't looking for perks and bells and whistles, just a cash back card to put everyday purchases on and pay it off, it worked well for that.

EDIT:

@summerterrace one thing I forgot to add in my original reply if you do look into the Citi Doube Cash card, or anyone else who is looking into the Double Cash.

When you redeem the cash back, always deposit the cash back rewards into your checking account, even if you're wanting to apply it to your card balance. Then go back and make a payment from your checking account, the 1% cash back is on payments, not 1% back on statement credits.

Using the redeem as a statement credit, you do leave a little bit of the cash back on the table.

Re: Need a good daily driver catch all card...

Physh1 — Thu, 25 Mar 2021 15:13:48 GMT

What is your monthly spend like? Breakdown on categories?

I use the Amex EDP...if your spend is right, with the 50% bonus points after 30 transactions, you'll easily make up the AF plus more. It's been my go to for a few years...works for me.

Re: Need a good daily driver catch all card...

calyx — Thu, 25 Mar 2021 15:45:20 GMT

I know it's not popular because they can be more conservative, but there's also the SDFCU Premium CashBack+ which is another 2% card (flat, no FTF and no minimum amount required to redeem). It comes with a $200 SUB, and no extra checking required (shares/savings account required for membership, though).

Re: Need a good daily driver catch all card...

summerterrace — Thu, 25 Mar 2021 23:12:04 GMT

Our biggest spend is:

Groceries and catch all categories

Groceries around $800-$900 a month (we buy all household stuff at a supermarket)

Catchall like insurance, cleaning, pet expenses, subscriptions, cell phone, streaming, etc $1500-$2000 a month

Re: Need a good daily driver catch all card...

JNA1 — Thu, 25 Mar 2021 23:38:59 GMT

@summerterrace wrote:
Our biggest spend is:
Groceries and catch all categories
Groceries around $800-$900 a month (we buy all household stuff at a supermarket)
Catchall like insurance, cleaning, pet expenses, subscriptions, cell phone, streaming, etc $1500-$2000 a month

I don't see it mentioned above, but the PayPal MasterCard is another good choice. It was our catch all card until we got the 3% AOD card.

Alliant Credit Union also has a flat no AF 2% card and a flat 2.5% card with a $99 AF. Depending on how much you will spend in a year, the Alliant 2.5% is a good card. I'm a member of Alliant FCU and they send me prequalification offers often, but the AOD card has basically replaced all my 1.5% - 2% cards.

Re: Need a good daily driver catch all card...

coldfusion — Thu, 25 Mar 2021 23:41:43 GMT

@JNA1 wrote:
@summerterrace wrote:
Our biggest spend is:
Groceries and catch all categories
Groceries around $800-$900 a month (we buy all household stuff at a supermarket)
Catchall like insurance, cleaning, pet expenses, subscriptions, cell phone, streaming, etc $1500-$2000 a month

I don't see it mentioned above, but the PayPal MasterCard is another good choice. It was our catch all card until we got the 3% AOD card.

Alliant Credit Union also has a flat no AF 2% card and a flat 2.5% card with a $99 AF. Depending on how much you will spend in a year, the Alliant 2.5% is a good card. I'm a member of Alliant FCU and they send me prequalification offers often, but the AOD card has basically replaced all my 1.5% - 2% cards.

After the stunt they just pulled and then rescinded with the 33% devaluation of points I myself wouldn't recommend an Alliant card right now.

Re: Need a good daily driver catch all card...

summerterrace — Fri, 26 Mar 2021 00:22:23 GMT

@coldfusion wrote:
@JNA1 wrote:
@summerterrace wrote:
Our biggest spend is:
Groceries and catch all categories
Groceries around $800-$900 a month (we buy all household stuff at a supermarket)
Catchall like insurance, cleaning, pet expenses, subscriptions, cell phone, streaming, etc $1500-$2000 a month

I don't see it mentioned above, but the PayPal MasterCard is another good choice. It was our catch all card until we got the 3% AOD card.

Alliant Credit Union also has a flat no AF 2% card and a flat 2.5% card with a $99 AF. Depending on how much you will spend in a year, the Alliant 2.5% is a good card. I'm a member of Alliant FCU and they send me prequalification offers often, but the AOD card has basically replaced all my 1.5% - 2% cards.
After the stunt they just pulled and then rescinded with the 33% devaluation of points I myself wouldn't recommend an Alliant card right now.

More and more banks/credit unions are doing this when the rewards they pay out are higher then profits. Or they raise annual fees.

Re: Need a good daily driver catch all card...

okurosetta — Sat, 27 Mar 2021 22:35:31 GMT

@summerterrace wrote:
Chase Freedom Unlimited- 1.5% on everything (have CSP), could do a product change from another card (like the Freedom I don't use)

Just some food for thought - the Freedom Unlimited would give 1.5% back on everything in cash back, but since you have CSP you could also redeem for travel at a 25% bonus, or 1.875% value. If you like the idea of your daily driver occasionally paying for some/all of a trip/vacation, this may be your best bet, even if a 2% card would see a little more. The difference between 1.875% and 2% on $20k in spending is $25 ($375 back vs $400).

Product changing from the Freedom has a few consequences, which may not matter to you at all. First, you lose the chance to earn the SUB on Freedom Unlimited. Second, if you ever did start using your Freedom regularly, you'd be able to add Freedom Flex to double the quarterly cap, while if you product change it you wouldn't be able to get the Freedom back. Obviously this would only matter if you went from not using a card to exceeding its quarterly cap, thus I doubt this would apply to you, but including the info nonetheless.

Re: Need a good daily driver catch all card...

okurosetta — Sat, 27 Mar 2021 22:58:51 GMT

@summerterrace wrote:
Our biggest spend is:
Groceries and catch all categories
Groceries around $800-$900 a month (we buy all household stuff at a supermarket)
Catchall like insurance, cleaning, pet expenses, subscriptions, cell phone, streaming, etc $1500-$2000 a month

Bit of a pivot, but since you're a NFCU member, their More Rewards AmEx could be another option. Using $850 for grocery and $1750 for other monthly, More Rewards would earn $43 in cash back while a 1.5% card would earn $39... though a 2% card would beat both at $52. CFU + CSP would see $48.75 in travel value. Both the More Rewards and the CFU would actually earn more as well, since each would hit some purchases at a bonus, but hard to quantify.