@kdm31091 wrote:
I wouldn't look at it as "earning enough points to cover the fee" type of thing. IMO you should have this card if and only if you'd be paying for Prime anyway. Paying a $129 AF for the cash back rewards just doesn't make sense; there are other options out there.
By looking at your points you've spent roughly 2k on Amazon. However, you've spend 6k on purchases that only earned 1%. More or less, you would have gotten the same overall return just using a flat 2% card.
Not downing you here at all - just pointing out there could be better options than putting so much spend on this card.
You're making an excellent point as to how to maximize return on spend. In my case though the reason I have so much spend on 1% is mainly because my Amex cards weren't accepted for that particular spend and that's the only VISA I have. Otherwise I'd have rather put that spend on my gold card to earn MR points. I wish I applied for a 2% card rather than the 1.5% cash magnet, but I am failry new in the CC game and did not really know what I was doing when I first applied. The magnet I carry is a PC from BCE that became obselete after I got the gold card. It's also my oldest and very first credit card (since 2015) so I'm kinda stuck with it. I don't wanna cancel it and ruin my credit.
I am definitely looking into getting a 2% cash back card in the near future but for now I need to garden as I am preparing to apply for a mortgage loan as well as saving spots for some Chase card down the road. But I get your point though.
