topic Re: What's your cash back strategy? in Credit Cards

What's your cash back strategy?

thelethargicage — Mon, 04 Nov 2013 20:17:35 GMT

Grocery Stores Blue Cash Preferred (6%)
Gas Stations Sallie Mae (5% on first $250)
Target/Walmart Sallie Mae (5% on first $250)
Restaurants/Fast Food Cash+ (5%)
Pharmacies Cash+ (2%)
Non-category Quicksilver (1.5%)

Re: What's your cash back strategy?

juggalo9er — Mon, 04 Nov 2013 20:22:35 GMT

for those on lower end of spectrum

barclay rewards 2% gas, groceries

1% everything else

sadly this excited me lol

Re: What's your cash back strategy?

MoreRewards — Mon, 04 Nov 2013 20:38:04 GMT

Groceries Sallie Mae 5% capped at $250
Gas Sallie Mae 5% capped at $250
I didn't realize this gives 5% at Wal Mart???

Amex past cap Amex groceries 3% & gas at 2%
I'd like to get BOA rewards for the 3% gas though

I also use Freedom for 5% on gas when available & for many other purchases at 1%. Use the UR mall for whatever % being offered & will use for 5% amazon.com

Again use Discover It 5% on gas when available. Shop Discover gets most my online shopping 5-20%. I will alsp be using it for tthe 5% for online shopping, I've actually already started.

Re: What's your cash back strategy?

kkapdolee — Mon, 04 Nov 2013 21:18:52 GMT

@thelethargicage wrote:
Grocery Stores Blue Cash Preferred (6%)
Gas Stations Sallie Mae (5% on first $250)
Target/Walmart Sallie Mae (5% on first $250)
Restaurants/Fast Food Cash+ (5%)
Pharmacies Cash+ (2%)
Non-category Quicksilver (1.5%)

Nice cash back combinations!

You should consider Fidelity Amex for 2% cash back on everything.

Also a card to cover Amazon. Perhaps a second Cash + card? Or you can buy Amazon gift cards at grocery stores with your BCP.

Re: What's your cash back strategy?

thelethargicage — Mon, 04 Nov 2013 21:26:32 GMT

@kkapdolee wrote:
@thelethargicage wrote:
Grocery Stores Blue Cash Preferred (6%)
Gas Stations Sallie Mae (5% on first $250)
Target/Walmart Sallie Mae (5% on first $250)
Restaurants/Fast Food Cash+ (5%)
Pharmacies Cash+ (2%)
Non-category Quicksilver (1.5%)
Nice cash back combinations!

You should consider Fidelity Amex for 2% cash back on everything.
Also a card to cover Amazon. Perhaps a second Cash + card? Or you can buy Amazon gift cards at grocery stores with your BCP.

Thanks! Actually, I get 5% on book stores from the Sallie Mae MC, which includes Amazon, but just to be on the safe side, I can get electronic gift cards from Amazon and pay with them. From what I understand, purchases from the Amazon marketplace are not coded as book store.

I prefer Quicksilver as a catch-all because it's a Visa. The Fidelity Amex didn't appeal to me because 1) it's issued by FIA/BofA and 2) it's a "fake" Amex (I know it's silly, but I'm not gonna apply for a card if I'm not gonna be 100% pleased with it)

Re: What's your cash back strategy?

kkapdolee — Mon, 04 Nov 2013 21:32:52 GMT

@thelethargicage wrote:
@kkapdolee wrote:
@thelethargicage wrote:
Grocery Stores Blue Cash Preferred (6%)
Gas Stations Sallie Mae (5% on first $250)
Target/Walmart Sallie Mae (5% on first $250)
Restaurants/Fast Food Cash+ (5%)
Pharmacies Cash+ (2%)
Non-category Quicksilver (1.5%)
Nice cash back combinations!

You should consider Fidelity Amex for 2% cash back on everything.
Also a card to cover Amazon. Perhaps a second Cash + card? Or you can buy Amazon gift cards at grocery stores with your BCP.
Thanks! Actually, I get 5% on book stores from the Sallie Mae MC, which includes Amazon, but just to be on the safe side, I can get electronic gift cards from Amazon and pay with them. From what I understand, purchases from the Amazon marketplace are not coded as book store.

I prefer Quicksilver as a catch-all because it's a Visa. The Fidelity Amex didn't appeal to me because 1) it's issued by FIA/BofA and 2) it's a "fake" Amex (I know it's silly, but I'm not gonna apply for a card if I'm not gonna be 100% pleased with it)

Yeah I forgot about Sallie Mae covering Amazon.

I think you can also purchase Amazon electronic gift cards with Sallie Mae and use that to purchase Amazon market place products. That way, it will count as 5% for Sallie Mae.

Isn't there like a $750 limit on bookstores per month?

Re: What's your cash back strategy?

lithium78 — Mon, 04 Nov 2013 21:36:23 GMT

I have a mix of cards I use to maximize my return:

Groceries: Target Redcard = 5% discount (in addition to whatever coupons I use)

Rotating Categories (Currently Online Shopping): Discover = 5%

Gasoline: BoA 123 Cash Rewards = 3% (I only purchase gasoline at BJ's Wholesale, because there's a surcharge everywhere else for using a credit card in my state)

BJ's Wholesale (Some bulk groceries, clothing, cleaning supplies, etc.): Total Rewards Visa = 2% in rewards points (plus another 2% in BJs Rewards due to my rewards membership, plus whatever I save additionally by using coupons)

Miscellaneous Other Stuff: BoA 123 Cash Rewards = 1%

Re: What's your cash back strategy?

Anonymous — Mon, 04 Nov 2013 21:58:04 GMT

Groceries: Citi TYP 5x, BCP, Sallie Mae

Gas: Sallie Mae

Drug Stores/Manufactured Spend: Citi TYP 5x

Amazon: Sallie Mae, Citi Forward

Dining: Citi Forward

Cell Phones: US Bank Cash Plus

Vet (under charity category) US Bank Cash Plus

Everything else: Fidelity Amex, Citi Premier (using up flight points)

Where no Amex: Cap One Quicksilver

Re: What's your cash back strategy?

Themanwhocan — Tue, 05 Nov 2013 00:13:06 GMT

Well, my cash back strategy is in my signature, of course.

Future pickups will be Huntington Voice for 3% CB on Utilities, which I hope will cover my cable TV and DSL Internet. if not, then its 3% on Drugstores.

I will pickup the other two 5% category rotators: Chase Freedom, Citi Dividend.

I don't have a strategy for my BCE. It doesn't make the cut anymore. And I don't need more grocery than the Sallie Mae can handle, so no PC to BCP.

I will exchange categories on the two Cash+ cards mid-year, to try for $25 gift cards for redeeming $100, on each card (ie, swap categories to balance out card usage/earnings).

Re: What's your cash back strategy?

too-much-time — Tue, 05 Nov 2013 00:34:20 GMT

My cash back strategy is to keep the use of such cards to a minimum! If I didn't, I would be digging my own grave by consuming endlessly to maximize my return. It's like buying a ten cup coffee card and getting one for free, can't wait for that free cup of Joe. It's different with reward cards; you don't pay with say airline tickets or hotel rooms.

Re: What's your cash back strategy?

kkapdolee — Tue, 05 Nov 2013 00:36:14 GMT

@Themanwhocan wrote:
Well, my cash back strategy is in my signature, of course.

Future pickups will be Huntington Voice for 3% CB on Utilities, which I hope will cover my cable TV and DSL Internet. if not, then its 3% on Drugstores.

I will pickup the other two 5% category rotators: Chase Freedom, Citi Dividend.

I don't have a strategy for my BCE. It doesn't make the cut anymore. And I don't need more grocery than the Sallie Mae can handle, so no PC to BCP.

I will exchange categories on the two Cash+ cards mid-year, to try for $25 gift cards for redeeming $100, on each card (ie, swap categories to balance out card usage/earnings).

Themanwhocan,

You are such an optimizer!

Huntington Voice? Where do you find these cards?

I'm trying to follow your footsteps in getting the best rewards cards..

Re: What's your cash back strategy?

tld409 — Tue, 05 Nov 2013 01:13:46 GMT

-Groceries- Amex BCE (3%)

-Gas - BOA Visa 1,2,3 (3%)

-Dining- CSP Visa (2%)

-Sams Club and Walmart- Sams Club Discover (2%)

-Amazon and all other on line shopping - Discover for now (5%) then Sams Club Discover (2%)

Socked drawer while current balances being paid off:

-CapOne World MC Silver- will be used for everything not covered above for 1.5% once 0% balance tx is paid off

-PSECU Visa - will only use for large purchases and/or balance txs (low rates)

-LOC Visa - only used for large purchase and/or balance txs (low rates)

Socked drawer- used sparingly

-Walmart- hoping for PC to Discover version

- Citi Simplicity- 0% balanced tx paid off. Hoping for PC to TYP in January or will close and possibly apply later in year for Sallie Mae or Chase Freedom

* I do plan to close a few cards that are not worth keeping open based on rewards, limit, apr, options for low or 0% balance tx offers etc. over the next 2 years

Re: What's your cash back strategy?

Themanwhocan — Tue, 05 Nov 2013 01:41:48 GMT

@kkapdolee wrote:
@Themanwhocan wrote:
Well, my cash back strategy is in my signature, of course.

Future pickups will be Huntington Voice for 3% CB on Utilities, which I hope will cover my cable TV and DSL Internet. if not, then its 3% on Drugstores.

I will pickup the other two 5% category rotators: Chase Freedom, Citi Dividend.

I don't have a strategy for my BCE. It doesn't make the cut anymore. And I don't need more grocery than the Sallie Mae can handle, so no PC to BCP.

I will exchange categories on the two Cash+ cards mid-year, to try for $25 gift cards for redeeming $100, on each card (ie, swap categories to balance out card usage/earnings).
Themanwhocan,

You are such an optimizer!
Huntington Voice? Where do you find these cards?
I'm trying to follow your footsteps in getting the best rewards cards..

I read a lot on myfico.com, and I don't forget when someone mentions a good cash back card. I'm merely very repetitive in consistently mentioning the good cash back cards over and over. I'm an old hand at this, after all, I obtained my first non-secure credit card way back in January of 2013. Yep, I'm old enough to remember 2013, it was a very good year...

Don't expect me to know a thing about travel cards though, since I never travel

Another good summary of cashback cards and many categories is: http://boardingarea.com/frequentmiler/2012/11/09/best-category-bonuses/#comment-338575

Re: What's your cash back strategy?

yellowcake — Tue, 05 Nov 2013 02:01:28 GMT

Restaurant/fast food: 5% - Cash +

Groceries: 3% - BCE

Gas: 3% - via gift cards at groceries stores (BCE)

Non-category: 2% - Priceline Rewards Visa

Re: What's your cash back strategy?

lexrjSD — Tue, 05 Nov 2013 02:33:55 GMT

In Use

Groceries: BCP (6%)

Gas: BCP Arco gift cards from Vons or Ralphs (6%)

Everything else: Barclay Arrival World (2%)

Socks drawer

CSP - will pc for the regular sapphire before the next AF (backup card when travelling)

Crap One Quicksilver

Gross Avg Yearly Cashback: $600

Net Avg Yearly Cashback (Gross - AFs): $436

Always open for suggestions on how to improve.

Re: What's your cash back strategy?

zyzzus — Tue, 05 Nov 2013 03:26:47 GMT

This huntington voice card is interesting.
Anyone know what merchant category codes count?

Cash back strategy for me should be evident nothing too exciting here.

Re: What's your cash back strategy?

Anonymous — Tue, 05 Nov 2013 03:44:29 GMT

And just a gentle reminder: the best cash back strategy is unlikely to be as profitable as simply signing up for a few new high bonus cards each year

Re: What's your cash back strategy?

too-much-time — Tue, 05 Nov 2013 04:28:06 GMT

@Anonymous wrote:
And just a gentle reminder: the best cash back strategy is unlikely to be as profitable as simply signing up for a few new high bonus cards each year

That will not last forever. At some point you will have exhausted the amount of credit that a lender will provide relative to your income, and when that has happened with a handful of favorites, you can resort to one of two. Close some accounts and sign up for new cards, at which time these good people will soon see through the scheme and drop you like a bad habit. Or pollute your credit report with less appealing lenders which will stick to your reports for a minimum of ten years like a bad stain from a wad of sticky bubble gum with undisclosed saliva mixed in. Take your pick.

Re: What's your cash back strategy?

Anonymous — Tue, 05 Nov 2013 05:13:01 GMT

While it is true that some lenders have become increasingly sensitive to churning, that varies and there are enough goodish lenders to space things out without becoming an obvious bonus chaser.

And, more importantly, good cashback cards get nerfed (several examples recently among the cards I have!) so you can lose out that way as well. Then you need to replace them, putting you in the situation you describe...

Re: What's your cash back strategy?

Themanwhocan — Wed, 06 Nov 2013 02:55:55 GMT

@yellowcake wrote:
Restaurant/fast food: 5% - Cash +

Groceries: 3% - BCE

Gas: 3% - via gift cards at groceries stores (BCE)

Non-category: 2% - Priceline Rewards Visa

Nice set of cards. Pretty much what I was using 2 months ago, before I applied for a Sallie Mae World MasterCard.