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3% Cash Back Card Query

JamP
Valued Contributor

Re: 3% Cash Back Card Query

Alliant Credit Union 3% for the first year no AF then 2.5% $99 AF

https://www.alliantcreditunion.org/bank/visa-signature-card

 

So many other 2% and a few other 2.5% cards sometimes better to get one of those. 

250k+ CL and climbing.
Message 11 of 36
galahad15
Valued Contributor

Re: 3% Cash Back Card Query

If you have a checking account relationship with Bank of America (BoA) combined together with their Cash Rewards card, you can get 3.3% cashback (3% + 10% extra for 3.3% total) on one selectable category of your choice, including gas, online shopping, dining, travel, drug stores, or home improvement/furnishings.  If you do not have the checking account relationship with BoA, you can still get 3% cashback on your chosen category, but you will lose the extra 10% bonus giving you 3.3%.

Message 12 of 36
creditfan
Established Contributor

Re: 3% Cash Back Card Query


@longtimelurker wrote:

@IncrsCreditScore wrote:

Thank you both.  I do have groceries covered.  It is all the other purchases, such as clothing, doctor bills, etc., that I am hoping to find a 3% card.

I don't know what HSBC and CFU stand for.  Will you clairify, please.


CFU is Chase Freedom Unlimited, HSBC is a bank (with that name)

 

https://www.us.hsbc.com/credit-cards/open-market-cards/?cid=PPG0042802&SearchEngine=GOOGLE&Keyword=h...


for clothing get us bank Cash+ card for 5%

Message 13 of 36
M_Smart007
Epic Contributor

Re: 3% Cash Back Card Query


@IncrsCreditScore wrote:

Occasionally, someone will mention they just got their 3% cash back credit card.  I don't know if I am searching incorrectly, but I have not been able to find such a card.  Therefore, decided I would ask the members of this forum.  TIA for any info.


Howdy don't i know you from somewhere?Smiley Very Happy,

 

Looks like myFICO'rs Have givin you lots of choices.

I have most of the cards they laid out. (exception of it miles)

 

JMHO,

I'm guessing with your scores and AAoA, Chase Freedom Unlimited would probably give you The Highest SL.

This is Just a guess based on My experience with Chase. (HP for future CLI's - Auto CLI's are kinda rare)

"New cardholders can now earn 3 percent cash back on up to $20,000 in purchases in the first year of membership."

 

Bank of America Cash Rewards is a Good Card, and they sometimes can be generous. (SP for CLI's)

Website and phone APP are good.

Also I am not sure if Doctor's is a 3% category on this card.

 

BB&T is Regional, So Check before you apply.

 

HSBC Cash Rewards Card is decent, although they gave Me a $15k SL, some only get $3-5K

and their web page interface is a little tough to negotiate. and the phone APP isn't any better.

HP for CLI's

Message 14 of 36
arkane
Established Contributor

Re: 3% Cash Back Card Query


@Saeren wrote:

There is no permanent 3% credit card, however they are three that I can think of that earn 3% for the first year. 

 

Discover IT Miles - 1.5% up front, 1.5% match after a year with no cap

 

HSBC Cash Rewards - 3% cash back for the first $10K in the first 12 months --> effectively a $300 for $10k spend SUB Smiley Frustrated

 

CFU - 3% cash back for the first $20K in the first 12 months --> effectively also a $300 for $10k spend SUB Smiley Mad

 

I suspect we will start seeing these types of offers a lot more as banks try to make a profit while still offering sign up bonuses. 



@JamP wrote:

Alliant Credit Union 3% for the first year no AF then 2.5% $99 AF

https://www.alliantcreditunion.org/bank/visa-signature-card

 

So many other 2% and a few other 2.5% cards sometimes better to get one of those. 


As you can see, from purely a rewards per dollar spent POV, capped 3% cards are well and truly terrible, since any card with a >$300 SUB will easily crush them. If you anticipate heavy spending throughout the year, definitely grab one of the uncapped ones.

Active:

Closed:


6/8/20:

Message 15 of 36
Saeren
Mega Contributor

Re: 3% Cash Back Card Query


@arkane wrote:

@Saeren wrote:

There is no permanent 3% credit card, however they are three that I can think of that earn 3% for the first year. 

 

Discover IT Miles - 1.5% up front, 1.5% match after a year with no cap

 

HSBC Cash Rewards - 3% cash back for the first $10K in the first 12 months --> effectively a $300 for $10k spend SUB Smiley Frustrated

 

CFU - 3% cash back for the first $20K in the first 12 months --> effectively also a $300 for $10k spend SUB Smiley Mad

 

I suspect we will start seeing these types of offers a lot more as banks try to make a profit while still offering sign up bonuses. 



@JamP wrote:

Alliant Credit Union 3% for the first year no AF then 2.5% $99 AF

https://www.alliantcreditunion.org/bank/visa-signature-card

 

So many other 2% and a few other 2.5% cards sometimes better to get one of those. 


As you can see, from purely a rewards per dollar spent POV, capped 3% cards are well and truly terrible, since any card with a >$300 SUB will easily crush them. If you anticipate heavy spending throughout the year, definitely grab one of the uncapped ones.


While I agree, the information I provided was what @IncrsCreditScore was asking for. 

 

Some people really don’t want to churn a bunch of credit cards for the SUBs. 





Message 16 of 36
longtimelurker
Mega Contributor

Re: 3% Cash Back Card Query


@arkane wrote:

@Saeren wrote:

There is no permanent 3% credit card, however they are three that I can think of that earn 3% for the first year. 

 

Discover IT Miles - 1.5% up front, 1.5% match after a year with no cap

 

HSBC Cash Rewards - 3% cash back for the first $10K in the first 12 months --> effectively a $300 for $10k spend SUB Smiley Frustrated

 

CFU - 3% cash back for the first $20K in the first 12 months --> effectively also a $300 for $10k spend SUB Smiley Mad

 


I think the HSBC is more $150 sub for $10K spend.   It's giving you an extra 1.5%, not 3%, and if you compare with putting the spend on a 2% it's just $100 SUB.

 

The CFU is $300 on $20K spend (and $200 compared to a 2%)   In both cases the SUB period in 12 months, much longer than the usual, but arkane's point stands, i.e. you can do better with a larger SUB.  In the case of the HSBC card, there are several cards that do better for long term spend as well (but not necessarily with a SUB so you would need two cards)

Message 17 of 36
kdm31091
Super Contributor

Re: 3% Cash Back Card Query


@galahad15 wrote:

If you have a checking account relationship with Bank of America (BoA) combined together with their Cash Rewards card, you can get 3.3% cashback (3% + 10% extra for 3.3% total) on one selectable category of your choice, including gas, online shopping, dining, travel, drug stores, or home improvement/furnishings.  If you do not have the checking account relationship with BoA, you can still get 3% cashback on your chosen category, but you will lose the extra 10% bonus giving you 3.3%.


The 10% bonus for the Cash Rewards card for just being a checking customer is not available on new applications. People were grandfathered in, but if you are a new applicant the category is strictly 3% if you are not Preferred Rewards status.

 

There is no permanent 3% card on everything as others have mentioned. There are various cards that offer 3% for a year, but I do think it's good to compare all options. Depending on your spend, a regular signup bonus may prove to offer higher value even if you aren't getting 3% on spend. Not everyone does want to churn, but with no permanent 3% option anyway, it makes sense to compare all offers.

Message 18 of 36
arkane
Established Contributor

Re: 3% Cash Back Card Query

If not looking to churn, then best to stagger applications so you get a new 3% card each year. I'd probably start with CFU because 5/24, and also I'm sure the promo won't last.
Active:

Closed:


6/8/20:

Message 19 of 36
galahad15
Valued Contributor

Re: 3% Cash Back Card Query


@kdm31091 wrote:

@galahad15 wrote:

If you have a checking account relationship with Bank of America (BoA) combined together with their Cash Rewards card, you can get 3.3% cashback (3% + 10% extra for 3.3% total) on one selectable category of your choice, including gas, online shopping, dining, travel, drug stores, or home improvement/furnishings.  If you do not have the checking account relationship with BoA, you can still get 3% cashback on your chosen category, but you will lose the extra 10% bonus giving you 3.3%.


The 10% bonus for the Cash Rewards card for just being a checking customer is not available on new applications. People were grandfathered in, but if you are a new applicant the category is strictly 3% if you are not Preferred Rewards status.

 

There is no permanent 3% card on everything as others have mentioned. There are various cards that offer 3% for a year, but I do think it's good to compare all options. Depending on your spend, a regular signup bonus may prove to offer higher value even if you aren't getting 3% on spend. Not everyone does want to churn, but with no permanent 3% option anyway, it makes sense to compare all offers.


Sorry, my genuine apologies for the unintended confusion on my part, about the eligibility for the 10% bonus (as I had previously not been aware that the 10% checking account bonus feature had been discontinued for new apps).  Also many thanks for the helpful FYI and clarification.

Message 20 of 36
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