topic Re: Cash back credit cards in Credit Cards

Cash back credit cards

Anovice — Wed, 27 Nov 2024 12:31:11 GMT

What are the top 3 cash back credit cards with a FICO credit score of 825?

Thank you.

Re: Cash back credit cards

swankytiger — Wed, 27 Nov 2024 13:23:15 GMT

Do you have $100k to park at either US Bank or BoA? Do you spend more than $10k a month?

Re: Cash back credit cards

USMCOne — Wed, 27 Nov 2024 13:41:15 GMT

US Bank seems to have a compelling offer if you have the cash in their bank (and investments). 2% off the bat which beats industry standard of 1.5% and up to 4% if you got 100k in combined cash/investments with US Bank. That might change as time goes on as that is a new product.

Really hard to recommend as everyones spending is different.

Amex has near or the highest cash back in various catagories on their Blue Cash Preferred but that card and Blue Cash Everyday its dolled out as a Amazon credit or statement credit.

Discover has a compelling offer as they match your cash back after a year dramatically increasing the first years cash back. They have targeted 5% cash back on things each quarter. This quarter for instance is 5% off Amazon and Target purchases. Other quarters it can be grocery store and say gas stations. Other purchases are 1%.

Capitol One has always been into cash back big time but their main product is 1.5% cash back. Savor offers more but its targeted.

Chase has some compelling offers.

Also keep in mind Amex, Chase etc offer "rewards" points. Those points have a dollar value and can be considered cash back if you do the math. Then all of those are transferrable to Airlines, gift cards and actual cash back (often the worst way to use them). In nearly all cases imo Rewards Points of whatever type exceed cash back unless you max out the catagory of cash back religiously for whatever that card is providing.

For myself I have gobs of flyer points from my job (travel 2-4 times outside of USA for my job) so transferring my rewards points for Airline points never interests me. I often utilize my points for gift cards, resturant gift cards. Its not the best value but good transfer ratios can be had if you wait. Like Amex recently had a excellent promo on Apple Gift cards. I think it was more then 1 cent per point level which is rare. Bought Apple gift cards to buy a Apple Watch Ultra 2 for free.

Re: Cash back credit cards

Anovice — Wed, 27 Nov 2024 14:10:36 GMT

@swankytiger wrote:
Do you have $100k to park at either US Bank or BoA? Do you spend more than $10k a month?

I do not want to take $100k from my Fidelity Tax Exempt Money Market. As I am no longer traveling frequently, I am not spending $10k a month.

Re: Cash back credit cards

Anovice — Wed, 27 Nov 2024 14:35:05 GMT

@USMCOne wrote:
Really hard to recommend as everyones spending is different.

Amex has near or the highest cash back in various catagories on their Blue Cash Preferred but that card and Blue Cash Everyday its dolled out as a Amazon credit or statement credit.

Discover has a compelling offer as they match your cash back after a year dramatically increasing the first years cash back. They have targeted 5% cash back on things each quarter. This quarter for instance is 5% off Amazon and Target purchases. Other quarters it can be grocery store and say gas stations. Other purchases are 1%.

Capitol One has always been into cash back big time but their main product is 1.5% cash back. Savor offers more but its targeted.

Chase has some compelling offers.

I will add some more information.

I have a Costco Visa card which I use at Costco.

I have a Capitol One Visa that I do not use. I should call them to find out how much cash back it gives.

I have a Discover Card I infrequently use. I am a fairly big Amazon shopper and did not realize that this quarter (until December 31?) is 5% off on Amazon. I am sleeping at the wheel!

I have a Chase card that I do not use. I should call them to find out how much cash back it gives.

I have an AMEX Platinum Card (second year). I am not longer traveling much, so the annual fee seems excessive. Maybe I should call AMEX and "trade in" my Platinum Card for a Blue Cash Everyday card? You said "Blue Cash Preferred but that card and Blue Cash Everyday its dolled out as a Amazon credit or statement credit." Isn't a statement credit essentialy the same as cash back?

Clearly, I need to regroup and first find out the cash back offers on the cards that I have. It seems like a no brainer to use my Discover Card for my Amazon purchases through December 31st.

Re: Cash back credit cards

Anonymous — Wed, 27 Nov 2024 15:53:18 GMT

@swankytiger wrote:
Do you have $100k to park at either US Bank or BoA? Do you spend more than $10k a month?

I think for US Bank, for IRA money, you need $250K to avoid a fee

Re: Cash back credit cards

ptatohed — Wed, 27 Nov 2024 15:57:06 GMT

You have cash back cards that you don't know how much cash back they give? You pay $695 / yr for a card you don't care about but are worried about getting new cash back cards?

Re: Cash back credit cards

Anonymous — Wed, 27 Nov 2024 16:00:54 GMT

@Anovice wrote:

I have a Discover Card I infrequently use. I am a fairly big Amazon shopper and did not realize that this quarter (until December 31?) is 5% off on Amazon. I am sleeping at the wheel!

I have an AMEX Platinum Card (second year). I am not longer traveling much, so the annual fee seems excessive. Maybe I should call AMEX and "trade in" my Platinum Card for a Blue Cash Everyday card? You said "Blue Cash Preferred but that card and Blue Cash Everyday its dolled out as a Amazon credit or statement credit." Isn't a statement credit essentialy the same as cash back?

Clearly, I need to regroup and first find out the cash back offers on the cards that I have. It seems like a no brainer to use my Discover Card for my Amazon purchases through December 31st.

The Discover Amazon quarter does end Dec 31st. The cashback is limited to $75 (based on $1500 spend in that quarter). If you are a heavy Amazon user, and have Prime, consider the Chase Amazon Prime card which is an unlimited 5% on Amazon purchases, and often 6% if you are willing to wait an extra day for delivery

You will not be able to change your American Express charge card for a credit card, you can just downgrade or cancel it. Statement credit is mainly like cashback but some people prefer the flexibility of cash back. The difference becomes more obvious if you decide to stop using the card, then you may end up with a credit balance, which you then have to wait for them to refund by check which can take a long time.

Re: Cash back credit cards

unsungivy — Wed, 27 Nov 2024 16:58:36 GMT

@Anovice wrote:
@USMCOne wrote:
Really hard to recommend as everyones spending is different.

Amex has near or the highest cash back in various catagories on their Blue Cash Preferred but that card and Blue Cash Everyday its dolled out as a Amazon credit or statement credit.

Discover has a compelling offer as they match your cash back after a year dramatically increasing the first years cash back. They have targeted 5% cash back on things each quarter. This quarter for instance is 5% off Amazon and Target purchases. Other quarters it can be grocery store and say gas stations. Other purchases are 1%.

Capitol One has always been into cash back big time but their main product is 1.5% cash back. Savor offers more but its targeted.

Chase has some compelling offers.

I will add some more information.

I have a Costco Visa card which I use at Costco.

I have a Capitol One Visa that I do not use. I should call them to find out how much cash back it gives.

I have a Discover Card I infrequently use. I am a fairly big Amazon shopper and did not realize that this quarter (until December 31?) is 5% off on Amazon. I am sleeping at the wheel!

I have a Chase card that I do not use. I should call them to find out how much cash back it gives.

I have an AMEX Platinum Card (second year). I am not longer traveling much, so the annual fee seems excessive. Maybe I should call AMEX and "trade in" my Platinum Card for a Blue Cash Everyday card? You said "Blue Cash Preferred but that card and Blue Cash Everyday its dolled out as a Amazon credit or statement credit." Isn't a statement credit essentialy the same as cash back?

Clearly, I need to regroup and first find out the cash back offers on the cards that I have. It seems like a no brainer to use my Discover Card for my Amazon purchases through December 31st.

Yes, checking what you already have is the best place to start. You most likely don't need to call the companies unless you want to, just Google each of your specific cards and you will be able to find a page that spells out what they do for you.

As stated, you cannot product change an AmEx charge card to an AmEx credit card, you can only change them within their respective categories and same type of rewards currencies.

If you have Amazon Prime, the Amazon Prime Visa is a GREAT cashback card. If you do not already pay for Amazon Prime but do a great deal of shopping there, consider the Affinity FCU Visa, since that gives 5% back on (most) Amazon purchases without requiring an Amazon Prime membership (and also 5% at other Bookstores).

Also... friends don't let friends get the Costco Visa 🤦‍♀️🤷‍♀️

Re: Cash back credit cards

Anovice — Wed, 27 Nov 2024 17:55:05 GMT

@ptatohed wrote:
You have cash back cards that you don't know how much cash back they give?
Yes.

You pay $695 / yr for a card you don't care about but are worried about getting new cash back cards?
Yes. Apparently, you did not read my post. I said "I have an AMEX Platinum Card (second year). I am no longer traveling much, so the annual fee seems excessive (emphasis added).

Re: Cash back credit cards

Anovice — Wed, 27 Nov 2024 18:11:50 GMT

@USMCOne

What don't you like about the Costco Citi Visa card?

Re: Cash back credit cards

NoHardLimits — Wed, 27 Nov 2024 18:35:33 GMT

@Anovice wrote:
@ptatohed wrote:
You have cash back cards that you don't know how much cash back they give?
Yes.

You pay $695 / yr for a card you don't care about but are worried about getting new cash back cards?
Yes. Apparently, you did not read my post. I said "I have an AMEX Platinum Card (second year). I am no longer traveling much, so the annual fee seems excessive (emphasis added).

It sounds like your spending patterns have changed over the past year. What do you anticipate being your 5-10 highest spend categories for 2025? Some common categories are: grocery, dining, home improvement, etc. If groceries are one of your biggest expenses, it's important to consider where you buy your groceries (e.g. Costco, Walmart, Whole Foods, etc.) as some merchants are not coded as standard grocery stores.

Regarding your Amex Platinum charge card, make sure you deplete your rewards balance (either use them or transfer them to a transfer partner program) before cancelling your card. As mentioned above, there are no cash back cards which qualify for a product change from Platinum.

Re: Cash back credit cards

Kforce — Wed, 27 Nov 2024 18:56:17 GMT

@Anovice wrote:
What are the top 3 cash back credit cards with a FICO credit score of 825?
Thank you.

As other posters have pointed out, you have lot's of choices.

The best card set for one depends on many things we have no information about.

First one needs to know where and how much spend goes in categories that reward cards cover.

Next one needs to estimate how many cards they want to use monthly.

Some want a small two-three card set, and others don't mind having dozens.

For cash back cards there are a few 2-3% cards covering non category (open) spend.

Then many 3%-6% percent cards for one to 4 categories.

Bottom line if you have a good non-cat card and 2-3 (4-5%) cards you should get ~3% return.

If you want 10-12 cards easy ~4% and don't mind playing with 20 cards can approach ~4.5-5%.

Need to know where you spend, how much in each category, and how many total cards you want to shuffle.

With out further info, we are just throwing out favorites for where we spend money and number of cards we like to manage.

I use a total of three cards and many in the forum use dozens of cards.

More card's more rewards.

More card's more time spent managing, paying, shuffling, etc.

Re: Cash back credit cards

SouthJamaica — Wed, 27 Nov 2024 19:40:06 GMT

@Anovice wrote:
What are the top 3 cash back credit cards with a FICO credit score of 825?
Thank you.

The answer depends on (a) what you would use them for and (b) what cash back cards you presently have.

Re: Cash back credit cards

Anonymous — Wed, 27 Nov 2024 19:50:04 GMT

@Anonymous wrote:
If you are a heavy Amazon user, and have Prime, consider the Chase Amazon Prime card which is an unlimited 5% on Amazon purchases, and often 6% if you are willing to wait an extra day for delivery

I was just buying something and on this item I noticed that if I delayed delivery to Dec 2, with the Chase card, I would get 7% rewards, First time I have seen that.

Since the item costs $11 and I need it soon, I sadly had to leave the extra 22c on the table.

Re: Cash back credit cards

ElvisCaprice — Wed, 27 Nov 2024 20:05:17 GMT

I find I rarely have any non category spend, in fact in the past year it's been 0. The BofA CCR w/Platinum Honors just about covers everything @5.25% if your willing to make all your purchases work for online category, which I have successfully done. I don't even utilize my US Cash +, which is very narrow compared to the BofA CCR. I can make all utilities work for the online category on the BofA CCR (paypal is your friend). For the occasional non online category spend I utilize my two Citi Custom Cash cards for 5%, $500 category limit per month. These 3 cards cover all my spend, even new banking funding. Plan to add another CCR for expanding quarterly limit from 2500 to 5000 and add a Citi Rewards Plus for elevated 5.5% cash back. In the end, 5 cards with 2 of them being duplicates guarantees me over 5% cash back annually.

Everyones spending needs and amount vary, so this will change with what would work for you. YMMV

Re: Cash back credit cards

USMCOne — Wed, 27 Nov 2024 20:07:12 GMT

@Anovice wrote:
@USMCOne
What don't you like about the Costco Citi Visa card?

I fogot about that one. Seems to be good. I had no need as I have other cards which give me roughly the same as that.

Re: Cash back credit cards

unsungivy — Thu, 28 Nov 2024 00:13:03 GMT

@Anonymous wrote:
@Anonymous wrote:
If you are a heavy Amazon user, and have Prime, consider the Chase Amazon Prime card which is an unlimited 5% on Amazon purchases, and often 6% if you are willing to wait an extra day for delivery
I was just buying something and on this item I noticed that if I delayed delivery to Dec 2, with the Chase card, I would get 7% rewards, First time I have seen that.

Since the item costs $11 and I need it soon, I sadly had to leave the extra 22c on the table.

It's most likely 7% because of the Black Friday-is-all-week-so-why-even-bother-with-Cyber-Monday sale. That offer is routinely available at 6% for Prime Visa holders outside of the sale, but they bumped it to 7% during previous Prime Day sales this year.

It's honestly a decent incentive to take some urgency off the plates of the Amazon fulfillment workers, as these sales and the increased expectations for rapid deliveries can be very unhealthy for them.

Re: Cash back credit cards

Anonymous — Thu, 28 Nov 2024 01:12:40 GMT

@unsungivy wrote:
@Anonymous wrote:
@Anonymous wrote:
If you are a heavy Amazon user, and have Prime, consider the Chase Amazon Prime card which is an unlimited 5% on Amazon purchases, and often 6% if you are willing to wait an extra day for delivery
I was just buying something and on this item I noticed that if I delayed delivery to Dec 2, with the Chase card, I would get 7% rewards, First time I have seen that.

Since the item costs $11 and I need it soon, I sadly had to leave the extra 22c on the table.
It's most likely 7% because of the Black Friday-is-all-week-so-why-even-bother-with-Cyber-Monday sale. That offer is routinely available at 6% for Prime Visa holders outside of the sale, but they bumped it to 7% during previous Prime Day sales this year.

It's honestly a decent incentive to take some urgency off the plates of the Amazon fulfillment workers, as these sales and the increased expectations for rapid deliveries can be very unhealthy for them.

Oh, I had missed the bump to 7% in the prime sales earlier. Yes, I often go for the 6% when it's available, unless my order is an "Oh, I forgot to get...." and need it ASAP.

Re: Cash back credit cards

Anovice — Mon, 09 Dec 2024 13:19:43 GMT

Most of my spending patterns change each month. However, I am in a high IRMMA bracket and my Medicare bill which includes IRMMA, will most consistenly be my higest spending category in 2025. I do not want to shuffle around a bunch of credit cards and would like one that will give me the most cash back for whatever category this is. I do not want to put any of my cash with US Bank or any other bank in order to get a higher percentage cash back.

Thank you.