topic Re: 2% Unlimited Cash Back Options in Credit Cards

2% Unlimited Cash Back Options

CreditPacMan — Sat, 09 Oct 2021 05:59:46 GMT

I'm looking to replace my QuickSilver with a 2% flat cash back on everyday purchases. I did some research and found the most promising card out there with a 2% cash back are the:

Wells Fargo Active Cash AND the Citi Custom Cash

What are your experiences with these cards? The only thing that is keeping my away from these cards is that I don't feel the technology of Wells Fargo and Citi are up to the same level of say AMEX or Capital One. Their apps are bad and the websites are even worse.

Do the rewards at least make up for that?

Re: 2% Unlimited Cash Back Options

TheFIGuy — Sat, 09 Oct 2021 06:40:23 GMT

https://ficoforums.myfico.com/t5/Credit-Cards/2-3-Cashback-CB-Credit-Card-CC-List/td-p/6197473

Re: 2% Unlimited Cash Back Options

CreditPacMan — Sat, 09 Oct 2021 06:46:31 GMT

@TheFIGuy wrote:
https://ficoforums.myfico.com/t5/Credit-Cards/2-3-Cashback-CB-Credit-Card-CC-List/td-p/6197473

@TheFIGuy Thanks, do you have experience using the two I mentioned in my post?

Re: 2% Unlimited Cash Back Options

UncleB — Sat, 09 Oct 2021 06:52:01 GMT

@CreditPacMan wrote:
I'm looking to replace my QuickSilver with a 2% flat cash back on everyday purchases. I did some research and found the most promising card out there with a 2% cash back are the:
Wells Fargo Active Cash AND the Citi Custom Cash

What are your experiences with these cards? The only thing that is keeping my away from these cards is that I don't feel the technology of Wells Fargo and Citi are up to the same level of say AMEX or Capital One. Their apps are bad and the websites are even worse.

Do the rewards at least make up for that?

Just a note that if you're wanting a flat-2% card the Citi card you'll want to consider is the Double Cash, not the Custom Cash. The Custom Cash is a great option for many, but it's not a flat-2% rewards card.

Back to your question... I have cards with both WF and Citi (actually the Double Cash) and I find them both to be acceptable. My gripe with the Double Cash is the rewards payout requires a $25 minimum in most cases (the TYP loophole is beyond the scope of this thread), but otherwise it's fine.

Re: 2% Unlimited Cash Back Options

CreditPacMan — Sat, 09 Oct 2021 07:36:02 GMT

@UncleB Right, thanks for catching that. I had the Double Cash before and closed it. I did not like the fact that you get 1% at purchase time, and another 1% when you pay it.

The Active Cash also has a minimum $25 threshold to redeem but otherwise it seems like it's good. Any problem with WF to be aware of? I don't bank with them but had a pretty bad experience dealing with them for my auto loan in 2011.

Re: 2% Unlimited Cash Back Options

Anonymous — Sat, 09 Oct 2021 11:44:39 GMT

As shown in the link above, there are lots of options, and you will find diverse opinions as to which is best.

But in general, a 1.5% card has to have LOTS of advantages to justify keeping it over a 2% card, which is 33% more rewards! (Some cite that the actual $ difference is often small, but to my mind that misses the point. If it's worth getting 1.5% rewards it's even more worth getting 2%)

In the case of QuickSilver, it has some good features:

1) No FTF

2) No min redemption

3) Rewards post with the transaction rather than at statement close (this is still unusual)

If FTF is important, the 2% possibilities are much narrower, and Double Cash and I think the Wells card don't work for this.

Re: 2% Unlimited Cash Back Options

MrDisco99 — Sat, 09 Oct 2021 13:34:56 GMT

Citi DoubleCash has no minimum redemption if you transfer the cash to ThankYou points first. You can then redeem for cash back at any amount.

Re: 2% Unlimited Cash Back Options

Wavester64 — Sat, 09 Oct 2021 13:46:33 GMT

@UncleB wrote:
@CreditPacMan wrote:
I'm looking to replace my QuickSilver with a 2% flat cash back on everyday purchases. I did some research and found the most promising card out there with a 2% cash back are the:
Wells Fargo Active Cash AND the Citi Custom Cash

What are your experiences with these cards? The only thing that is keeping my away from these cards is that I don't feel the technology of Wells Fargo and Citi are up to the same level of say AMEX or Capital One. Their apps are bad and the websites are even worse.

Do the rewards at least make up for that?
Just a note that if you're wanting a flat-2% card the Citi card you'll want to consider is the Double Cash, not the Custom Cash. The Custom Cash is a great option for many, but it's not a flat-2% rewards card.

Back to your question... I have cards with both WF and Citi (actually the Double Cash) and I find them both to be acceptable. My gripe with the Double Cash is the rewards payout requires a $25 minimum in most cases (the TYP loophole is beyond the scope of this thread), but otherwise it's fine.

OP, I agree with @UncleB here. You also might want to consider the Sofi MC, 2% on all purchases, no limit.

Re: 2% Unlimited Cash Back Options

ChargedUp — Sat, 09 Oct 2021 14:25:06 GMT

Is there any reason you're not considering AOD Visa for 3%? Sure it's not the easiest thing to app for, but it's easy street once you have it in your hands!

The Double Cash has the annoying 1+1 issue. The Active Cash is still a very new product, so I haven't seen much in dp's for it.

FNBOs Evergreen seems to be a popular option around here as well for 2%

Re: 2% Unlimited Cash Back Options

Mr_Mojo_Risin — Sat, 09 Oct 2021 16:52:44 GMT

@ChargedUp wrote:
Is there any reason you're not considering AOD Visa for 3%? Sure it's not the easiest thing to app for, but it's easy street once you have it in your hands!

The Double Cash has the annoying 1+1 issue. The Active Cash is still a very new product, so I haven't seen much in dp's for it.

FNBOs Evergreen seems to be a popular option around here as well for 2%

This is exactly what I was going to mention.

OP, you have to put some work in for the AOD card, but it certainly pays off.

FNBO has been really generous with their 2% card for the past 6 months or so. Check out their prequal, it's not guaranteed but what is lol?

Re: 2% Unlimited Cash Back Options

spiritcraft1 — Sat, 09 Oct 2021 17:09:30 GMT

The PSECU Founders card is excellent. Requires $500 DD per month for the 2% but it is unlimited. From experience X2, a mid 700's EX05 (or TU04) with decent income can easily score you the max $30k right out of the gate. It is a solid CU, very easy to deal with.

Re: 2% Unlimited Cash Back Options

lgtwriter — Sat, 09 Oct 2021 17:46:08 GMT

As someone who has been moving my daily driver activity off of my CapOne cards, here are the options I looked at.

1. I looked at Citi, but their starting lines can be small so I decided not to go with them.

2. I have the Wells Fargo already from a product change from the Cashwise. It's a good card, but I hate their app and their customer service.

3. I applied for FNBO last night and was approved for $15k. They seem to be generous with their starting credit lines and the 2% is unlimited.

Just my opinions, of course YMMV.

Re: 2% Unlimited Cash Back Options

MrDisco99 — Sat, 09 Oct 2021 18:08:43 GMT

@ChargedUp wrote:
Is there any reason you're not considering AOD Visa for 3%? Sure it's not the easiest thing to app for, but it's easy street once you have it in your hands!

Are people still getting approvals for this card? I tried about a year ago and couldn't get it. Apparently they'd tightened the reins on geo-fencing or something.

Re: 2% Unlimited Cash Back Options

FinStar — Sat, 09 Oct 2021 18:58:58 GMT

@MrDisco99 wrote:
@ChargedUp wrote:
Is there any reason you're not considering AOD Visa for 3%? Sure it's not the easiest thing to app for, but it's easy street once you have it in your hands!
Are people still getting approvals for this card? I tried about a year ago and couldn't get it. Apparently they'd tightened the reins on geo-fencing or something.

Yes, there's been a few approvals reported in the Approvals section within the past few weeks. So, approvals are still a thing, albeit with less frequency as the AOD FOTM train has long left the station.

Re: 2% Unlimited Cash Back Options

CreditPacMan — Sat, 09 Oct 2021 19:10:19 GMT

@ChargedUp wrote:
Is there any reason you're not considering AOD Visa for 3%? Sure it's not the easiest thing to app for, but it's easy street once you have it in your hands!

The Double Cash has the annoying 1+1 issue. The Active Cash is still a very new product, so I haven't seen much in dp's for it.

FNBOs Evergreen seems to be a popular option around here as well for 2%

I've never heard of this card before. I'll definitely check it out.

Re: 2% Unlimited Cash Back Options

CreditPacMan — Sat, 09 Oct 2021 19:15:30 GMT

@Anonymous Right, I ditched Chase for Capital One because I love their straight cash back rewards. The QuickSilver is not getting much use now tha I have the Savor (for dining), but I will keep it. I'm just looking for a straight 2% to use with my Savor for non-dinning things.

@Anonymous wrote:
As shown in the link above, there are lots of options, and you will find diverse opinions as to which is best.
But in general, a 1.5% card has to have LOTS of advantages to justify keeping it over a 2% card, which is 33% more rewards! (Some cite that the actual $ difference is often small, but to my mind that misses the point. If it's worth getting 1.5% rewards it's even more worth getting 2%)

In the case of QuickSilver, it has some good features:
1) No FTF
2) No min redemption
3) Rewards post with the transaction rather than at statement close (this is still unusual)
If FTF is important, the 2% possibilities are much narrower, and Double Cash and I think the Wells card don't work for this.

Re: 2% Unlimited Cash Back Options

CreditPacMan — Sat, 09 Oct 2021 19:17:50 GMT

@lgtwriter wrote:
As someone who has been moving my daily driver activity off of my CapOne cards, here are the options I looked at.

1. I looked at Citi, but their starting lines can be small so I decided not to go with them.
2. I have the Wells Fargo already from a product change from the Cashwise. It's a good card, but I hate their app and their customer service.
3. I applied for FNBO last night and was approved for $15k. They seem to be generous with their starting credit lines and the 2% is unlimited.

Just my opinions, of course YMMV.

@lgtwriter I'd have to look into FNBO and their membership rules, as far as I know I'd have to be a member with any CU before applying for a credit card.

Re: 2% Unlimited Cash Back Options

lgtwriter — Sat, 09 Oct 2021 19:20:58 GMT

@CreditPacMan I don't belong to FNBO and just was approved for $15k last night. I have a thread on this in approvals section if you want to check the data points.

Re: 2% Unlimited Cash Back Options

CreditPacMan — Sat, 09 Oct 2021 19:31:25 GMT

I guess right off the start, I don't qualify for the AOD since they require membership and I don't work for any of the companies they list on their website.

Re: 2% Unlimited Cash Back Options

FinStar — Sat, 09 Oct 2021 20:18:52 GMT

@CreditPacMan wrote:
I guess right off the start, I don't qualify for the AOD since they require membership and I don't work for any of the companies they list on their website.

There's another option to qualify for AOD via NEABA -- there's an AOD mega thread with all the details on how to join, what to expect, etc. But, if you've recently acquired a few new accounts and your utilization/DTI is not in a good place, I would wait until things have aged or optimized.