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Best for cash back?

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Anonymous
Not applicable

Re: Best for cash back?

Ok, updating after an app spree, Now for gardening as you guys call it...

 

Amex simply cash plus business 5% cell phone , 3% for...gas? I get to choose my second category and it's 50k each/combined not too bad

Amex blue cash everyday 3% supermarkets (instacart), 2% gas

Marvel 3% dining, entertainment, movies, online streaming...pretty much everything

Cap1 Quicksilver one 1.5% cash back whatever else

macys, home depot, store cards I don't care about but have no AF and decrease my utilization

 

I think this is a pretty decent lineup... I think I can use every single card every month without TRYING to do anything. I am pretty sure I can link amex to speedpass and autopay for cell phone, link all of them to samsungpay (just in case) and carry marvel and QS1 for day to day things.

Message 31 of 51
Anonymous
Not applicable

Re: Best for cash back?


@Anonymous wrote:

@Anonymous wrote:
This is very helpful, exactly the kind of input I was hoping for from someone who reads all the limitations of cards and understands my First World Problems hahaha!


lol yes, if only the whole world were full of only these isses.  glad the post helped some.  remember that discover allows you to have more than one card, so double your limit (and cash back) potential there.  chase offers similar, but again, discover card treats us well, offering spending bonuses, which increase our cashback (win!)  and if you consider gift cards and portals (which my husband never does, so I have to do for him and hope he remembers to use the gc vs the cc), then you can really get some nice cashback on restaurants, bestbuy, etc.  be sure to let us know if you come up with another useful card worthy of consideration!


Just returning the favor, if you or the husband has a business, or you feel like going the "i'm an ebay seller" route (I have an actual business) I just added the simplycash plus business card. 5% for cell phone and office supply, 3% for chosen category...50k max on one or both, not sure which. I can live with 25k of either, especially since I may use the 3% for gas...not bad at all,

Message 32 of 51
Anonymous
Not applicable

Re: Best for cash back?

that amex simply cash plus business is an interesting one to consider; thanks for sharing.  how frequently can you swap out the plus category?

Message 33 of 51
Anonymous
Not applicable

Re: Best for cash back?


@Anonymous wrote:


Just returning the favor, if you or the husband has a business, or you feel like going the "i'm an ebay seller" route (I have an actual business) I just added the simplycash plus business card. 5% for cell phone and office supply, 3% for chosen category...50k max on one or both, not sure which. I can live with 25k of either, especially since I may use the 3% for gas...not bad at all,


just seeing this lol it's like you read my mind and posted while i was typing - thanks for the share Smiley Happy yes,we do have businesses, too.  i was thinking of the usbank cash+ for the gym and cell phones, but with that 2k quarterly limit, i think we'd max out with our basic spend in those categories :-/  i was hoping for the 5% with them for movies, but i may have to settle for the marvel for movies at 3% ... when i have more time, i'll see what works best for us, but it's good to know there are options!

 

update: it just occurred to me that i could do all three ... the amex for the cell service (and ms at office supply, if needed), the us bank for gym and movies, and the marvel for the other entertainment options Smiley Happy score!  great thread!

Message 34 of 51
wilmer007
Contributor

Re: Best for cash back?


@Anonymous wrote:

@wilmer007 wrote:

@Anonymous wrote:

So far, I have 

Cap1 Quicksilver one 1.5% cash back for all

amex blue cash everyday 3% supermarkets, 2% gas, 1.0 cash for all

store cards I don't care about

 

My goal is to get the maximum rewards (cash in, cash out) and maximum perks (cell phone protections, warranty extension, etc) per dollar spent in every major category I spend with the least amount of cards, while having no AF. I hope to convert the QS1 to a QS with no AF. 

 

The majority of my yearly spend (in order) is on restaurants, cell phone (business),  bar/club (not so much, but it's there), gas, and travel. However, when I travel, I don't normally spend all my money on the hotel and airfare. I like getting out and seeing the sights, see local culture (more restaurants, bars and clubs, tours, etc) So, I don't think "travel" is really the big ticket item, it's stuff to do.

 

 



 

 


@Anonymous wrote:
I gave my categories... I know them pretty well. 12 month average and all. My monthly spend is approx 7k, a big chunk of that is restaurant and entertainment. The only category I missed was electronics stores. I buy a lot at bestbuy for business. That being said, would bars and clubs get restaurant categories? That's the one I'm not sure on.

 

 

looks to me like you are asking for BCP and CSR but since you don't want to pay $245 in AF for two cards you want to get back less money every year whereas $245 in AF will give you so much more return than that measly $245 in AF. the cashback from just the BCP alone ($265 after the cost of the AF) would cover the total $245 AF without factoring in the return you get from the CSR.

 

 

also you like to dine and travel so much with most of the $7k spending per month on that, yet you don't have the CSP/CSR (or any other travel card for the matter) that's a huge chunk of rewards your giving up. I don't spend anywhere near what you do every month and i have both.

 

 

so many free travels your giving up just because you don't wanna pay an AF or get the CSP/CSR. Smiley Sad

 

 

also bestbuy (and alot of other stores including electronics) and gas gift cards can be bought with the BCP for 6% CB FYI. so more reason for you to get the BCP as you will quickly max out the max $6k spending from grocery spending plus you still get unlimited 3% CB from gas without the gas gift cards.

 

TL/DR if you can afford to spend $7k per month you can afford AFs.


Ok, so...first off, and this is a big one... I just don't like them, on principal. Second, you're comparing no cash back to cash back... in every situation that will be preferrable. you have to compare cash back with no AF to cash back WITH an AF. Also, when did I ever say I couldn't AFFORD AFs? And...what if I couldn't? Kind of rude...anyway...this is the internet, so, whatever...That being said, let's take what you said and assume there is a lot of great info that I am completely missing. I DONT know everything, after all...

 

My ability to max out 5k spend at grocery might be a lot harder than you think... I buy like 100-200 dollars of food a month. Even on the high end, I'll barely hit half that. You can't buy liquor at the grocery store here in florida. Most my food comes from restaurants. But, ok... it's more. Now lets compare; if I get BCP as you suggest, I make 120 dollars in cash back for groceries by the end of the year (this is being generous). My AF is 95 dollars, I've grossed a MASSIVE 25 dollars cash back so far. Now, I'll also spend about 40 dollars a week in gas. On BCP I will get 63 in cash back by the end of the year. Now, I'm up to a truly impressive 88 dollars. hey, I've ALMOST doubled my money, right? You're still not seeing the big picture. If I keep BCE, no AF, I keep every penny of the 72 I get at 3% in groceries and I'll keep every penny of the 41 I get for gas. Now, BCP is at 88 dollars gross, BCE with my pewny, disgusting no AF card has topped out at 113! How many vacations can I finance with -25?

 

I might be tempted to take a 5% card with an AF, but I haven't seen one I like. They don't have high enough spending limits. I know this is apples to oranges because discover doesn't have an AF but they DO have a 5%, and I don't know another 5% card off the top of my head.

 

Discover's bonus this quarter is 5% and its on restaurants! SCORE! Right? wrong... it's only 1500 spend, then it drops to 1%...1% sucks...and 1500 spend is about a week and a half of spend for me for restaurants... So NOW I have a lot of homework to keep track of, swapping my cards around in my wallet so I don't lose track... use the discover card every year between january 1st and 12th...cmon... kind of a pain. Let's say I max out the spending on all 4 categories through the year, (which I won't, because one of them will be groceries) that's going to be annoying...but at the end, I'll have made 300. Hey, not too bad, right? for a free card, yea...not too bad. I might even do it... but, if you add a 100-150 fee on top of that, it's not worth my time or effort to keep track of the extra card for a bonus of 20-25 dollars compared to using a different card that is unlimited 3% (that's probably my goal % rate. 

 

I might ALSO consider one that has perks, free upgrades, travel credits, free luggage...hey...those things might be useful...but, in general...I don't usually see those on the 100/year cards, they're on the 400-500/year cards...now it's a lot different math...but...ACTUALLY might be worth it...depends


i never said you couldn't afford AF. what i was saying is that if you are spending $7k per month it makes alot of sense to get really good cards that have an AF since you'll get higher returns compared to the $0 AF ones.

 

you missed the point that the main reason to get the BCP is for the gift cards that will net you 6%. and yes there are supermarkets (i'm in florida too) that sell liquor such as Publix (i would know i'm in 3-7 different publix every single day for work).

 

you can buy gift cards at publix (or any other grocery store that sells gift cards such as whole foods) such as shell, marathon, a bunch of different restaraunts, best buy, retail stores, travel such as crusie ships, southwest airlines, hotels.com, disney, universal, busch gardens, seaworld, other theme parks, movie tickets, stub hub, sporting events, ebay, the list goes on and so. oh yeah did i mention publix (and whole foods and winn dixie) all sell amazon gift cards which just opened the flood doors for you as amazon also sells gift cards (some that publix doesn't sell) plus everything you buy from amazon. and they all get 6% cash back because publix codes gift cards as regular groceries. 

 

basically you have $6k to spend every year to get 6% cashback on the BCP and with groceries, travel, gas, and restaraunts. you will quickly max out that $6k per year (since you spend $7k per month) and you'll get $360 cashback then subtract the $95 AF and you'll net $265 after the cost of the AF (compared to the max $180 you get from the BCE) so you'll have $85 extra in your pocket and this doesn't even take into account the unlimited 3% from gas and department stores (if you even spend at department stores that is). i've had the BCP since October and i've already made more than the $95 AF, but because costco moved to a new location with a gas station i now use my CFU at costco for most of my gas spending. so the BCP is no longer good for me and i'll be PCing to the BCE when the AF is due for renew since i got the BCP mostly for gas spending. but as you can see the BCP is in a league of it's own when it comes to cash back cards.

 

and yes the perks are definately worth but i wouldn't get a travel card just for free upgrades or free bags. the CSR gives you so much for $450 AF ($150 after $300 in travel credits) and it codes alot of different things as travel that other travel cards do not. i've gone to places that were coded as travel when they weren't and that is 3x and the credit for it given back. 


*****|$15,200|********|$13,500|***********|$5,000|*********|$25,000|***********|$500|
Highest Scores: Transunion 08: 821 | Equifax VantageScore 3.0: 780 | Experian 08: 804 | gardening until May 2018 or longer.
Message 35 of 51
wilmer007
Contributor

Re: Best for cash back?


@Anonymous wrote:

 

instacart

 


i hope for your sake your tipping your shoppers because i'm an instacart shopper and i'll be very dissapointed in you if you aren't. especially when we are ICs and running our own business just like you.

 

oh and we deliver alcohol on instacart too.


*****|$15,200|********|$13,500|***********|$5,000|*********|$25,000|***********|$500|
Highest Scores: Transunion 08: 821 | Equifax VantageScore 3.0: 780 | Experian 08: 804 | gardening until May 2018 or longer.
Message 36 of 51
longtimelurker
Epic Contributor

Re: Best for cash back?


@wilmer007 wrote:

I

basically you have $6k to spend every year to get 6% cashback on the BCP and with groceries, travel, gas, and restaraunts. you will quickly max out that $6k per year (since you spend $7k per month) and you'll get $360 cashback then subtract the $95 AF and you'll net $265 after the cost of the AF (compared to the max $180 you get from the BCE) so you'll have $85 extra in your pocket and this doesn't even take into account the unlimited 3% from gas and department stores (if you even spend at department stores that is). i've had the BCP since October and i've already made more than the $95 AF, but because costco moved to a new location with a gas station i now use my CFU at costco for most of my gas spending. so the BCP is no longer good for me and i'll be PCing to the BCE when the AF is due for renew since i got the BCP mostly for gas spending. but as you can see the BCP is in a league of it's own when it comes to cash back cards.

 


But this is thinking small!   If you can focus your spend buying gift cards at supermarkets (along with groceries) the Amex OBC will net you $2,240 if you max out at $50K a year (on groceries, gas and drug stores)

 

And apart from that, as laFenix discussed, getting discounted giftcards through a portal will often give more than 6%, making the AF much less attractive

 

Message 37 of 51
Anonymous
Not applicable

Re: Best for cash back?

What portal sells the discounted gift cards? If I remember right they were talking about something with Amex right?
Message 38 of 51
Anonymous
Not applicable

Re: Best for cash back?

i can buy gcs through various discount providers and stack rewards by first going through a portal.   my husband's not so disciplined, so it's nice to have the cashback cards as a safety net, which is why i think about how to optimize that, first.

 

please delete from here forward if i'm not allowed to mention on here...for example, i can go through topcash or befrugal (among others) and purchase with a cashback card a discounted gc for many department stores, movie places, grocery stores, gas places, restaurants, electronics, etc through raise or cardpool.  i think one of my favorites is getting one for groupon, though lol ... then the discounts really stack on!

Message 39 of 51
longtimelurker
Epic Contributor

Re: Best for cash back?


@Anonymous wrote:
What portal sells the discounted gift cards? If I remember right they were talking about something with Amex right?

There was a completely different context when buying Amex gift cards through a portal was a great move.  Sadly Amex no longer gives cashback to the portals on denominations above $200.

Message 40 of 51
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