Best Cash Rewards Card?

[ubermensch]

I am planning on going on a bit of an application spree next week, and I need some help determining the best cards to apply for.

I plan on paying in full each month, so interest rate is not an issue.  I would like a card that gives me straight cash back.  I spend most of my money on dining.  After that is probably random electronics, and groceries.  I spend no money on gas.

I need a high quality card that I can keep for the forseeable future, and can grow to a credit line of $20,000+.  What are the best cash reward cards for my situation?  So far I have come up with:

• Chase Freedom Plus ($100 signup bonus, 1% cash back + 2% bonus on top 6 categories)
• Fidelity Investment Rewards (1.5% cash back on everything)
• Discover Card (I already have a Discover Card but not sure which one)

Any other suggestions? 

Message Edited by ubermensch on 05-25-2008 06:46 AM

Message Edited by ubermensch on 05-25-2008 06:47 AM

[Uniqua]

What are your FICO scores? Any derogs/baddies that can affect your approval for credit?

[Red1Blue]

You might want to goto PenFed if you are looking for higher credit limit. You could also try for Citi which starts you with good limits. I got one card with 15k and second card with $17k from Citi.

[Anonymous]

Uber,

Since most of your spending is on restaurants, an important consideration with the Chase Freedom is that there is no category for Restaurants, only Fast Food and Fast Service (so like a Chipotle or McDonalds).

Of the other two, others would be more qualified to answer, though the fidelty might have better network coverage than a discover card.

[Anonymous]

yeah but penfed only offers 2percent on groceries, and 5 on gas at the pump, and if u don't pay for gas, where can I apply? lol

[ubermensch]

I have some baddies, but overall I have pretty good credit, and I don't want my credit to be a consideration when making suggestions here.  I just want to know what is the best card for my purposes that I can hope for.

Since I don't buy gas (I live in a city and rarely drive), I don't think PenFed provides a benefit that makes it worth joing the CU to obtain.

Thanks for the information on the Chase Freedom.  It is sad I can't get 3% on resturaunts, but between the 3% on some categories, and then 25% bonus (you get $250 cash back when you save $200), I think that it will at least be very competitive with the Fidelity card.

Does any card offer more than a 1.5% bonus on resturaunts?

[ubermensch]

I just went to look at the Citi cards, and my head is spinning.  Anyone have suggestions on the the best ones to should look at?

[Marvintran]

National City is 2% cash back at Restaurant

Amex Costso is 3% cash back at  Restaurant but you need a membership at Costso.

[athensguy]

Citi Professional Cash is 3% back on restaurants, and so is the Amex Costco card.

[Anonymous]

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ubermensch wrote:

I have some baddies, but overall I have pretty good credit, and I don't want my credit to be a consideration when making suggestions here.  I just want to know what is the best card for my purposes that I can hope for.

Since I don't buy gas (I live in a city and rarely drive), I don't think PenFed provides a benefit that makes it worth joing the CU to obtain.

Thanks for the information on the Chase Freedom.  It is sad I can't get 3% on resturaunts, but between the 3% on some categories, and then 25% bonus (you get $250 cash back when you save $200), I think that it will at least be very competitive with the Fidelity card.

Does any card offer more than a 1.5% bonus on resturaunts?

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Don't forget about the $30 annual fee, waived only the first year.