Cash back credit cards

[Anovice]

What are the top 3 cash back credit cards with a FICO credit score of 825?

Thank you.

[swankytiger]

Do you have $100k to park at either US Bank or BoA? Do you spend more than $10k a month?

[USMCOne]

US Bank seems to have a compelling offer if you have the cash in their bank (and investments). 2% off the bat which beats industry standard of 1.5% and up to 4% if you got 100k in combined cash/investments with US Bank. That might change as time goes on as that is a new product. 

Really hard to recommend as everyones spending is different. 

Amex has near or the highest cash back in various catagories on their Blue Cash Preferred but that card and Blue Cash Everyday its dolled out as a Amazon credit or statement credit. 

Discover has a compelling offer as they match your cash back after a year dramatically increasing the first years cash back. They have targeted 5% cash back on things each quarter. This quarter for instance is 5% off Amazon and Target purchases. Other quarters it can be grocery store and say gas stations. Other purchases are 1%. 

Capitol One has always been into cash back big time but their main product is 1.5% cash back. Savor offers more but its targeted. 

Chase has some compelling offers. 

Also keep in mind Amex, Chase etc offer "rewards" points. Those points have a dollar value and can be considered cash back if you do the math. Then all of those are transferrable to Airlines, gift cards and actual cash back (often the worst way to use them). In nearly all cases imo Rewards Points of whatever type exceed cash back unless you max out the catagory of cash back religiously for whatever that card is providing. 

For myself I have gobs of flyer points from my job (travel 2-4 times outside of USA for my job) so transferring my rewards points for Airline points never interests me. I often utilize my points for gift cards, resturant gift cards. Its not the best value but good transfer ratios can be had if you wait. Like Amex recently had a excellent promo on Apple Gift cards. I think it was more then 1 cent per point level which is rare. Bought Apple gift cards to buy a Apple Watch Ultra 2 for free. 

[Anovice]

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@swankytiger wrote:

Do you have $100k to park at either US Bank or BoA? Do you spend more than $10k a month?

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I do not want to take $100k from my Fidelity Tax Exempt Money Market. As I am no longer traveling frequently, I am not spending $10k a month.

[Anovice]

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@USMCOne wrote:

Really hard to recommend as everyones spending is different. 

Amex has near or the highest cash back in various catagories on their Blue Cash Preferred but that card and Blue Cash Everyday its dolled out as a Amazon credit or statement credit. 

Discover has a compelling offer as they match your cash back after a year dramatically increasing the first years cash back. They have targeted 5% cash back on things each quarter. This quarter for instance is 5% off Amazon and Target purchases. Other quarters it can be grocery store and say gas stations. Other purchases are 1%. 

Capitol One has always been into cash back big time but their main product is 1.5% cash back. Savor offers more but its targeted. 

Chase has some compelling offers. 

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I will add some more information.

I have a Costco Visa card which I use at Costco.

I have a Capitol One Visa that I do not use. I should call them to find out how much cash back it gives.

I have a Discover Card I infrequently use. I am a fairly big Amazon shopper and did not realize that this quarter (until December 31?) is 5% off on Amazon. I am sleeping at the wheel! 

I have a Chase card that I do not use. I should call them to find out how much cash back it gives.

I have an AMEX Platinum Card (second year). I am not longer traveling much, so the annual fee seems excessive. Maybe I should call AMEX and "trade in" my Platinum Card for a Blue Cash Everyday card? You said "Blue Cash Preferred but that card and Blue Cash Everyday its dolled out as a Amazon credit or statement credit." Isn't a statement credit essentialy the same as cash back? 

Clearly, I need to regroup and first find out the cash back offers on the cards that I have. It seems like a no brainer to use my Discover Card for my Amazon purchases through December 31st. 

[Anonymous]

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@swankytiger wrote:

Do you have $100k to park at either US Bank or BoA? Do you spend more than $10k a month?

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I think for US Bank, for IRA money, you need $250K to avoid a fee

[ptatohed]

You have cash back cards that you don't know how much cash back they give?  You pay $695 / yr for a card you don't care about but are worried about getting new cash back cards?  

[Anonymous]

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@Anovice wrote:

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I have a Discover Card I infrequently use. I am a fairly big Amazon shopper and did not realize that this quarter (until December 31?) is 5% off on Amazon. I am sleeping at the wheel! 

I have an AMEX Platinum Card (second year). I am not longer traveling much, so the annual fee seems excessive. Maybe I should call AMEX and "trade in" my Platinum Card for a Blue Cash Everyday card? You said "Blue Cash Preferred but that card and Blue Cash Everyday its dolled out as a Amazon credit or statement credit." Isn't a statement credit essentialy the same as cash back? 

Clearly, I need to regroup and first find out the cash back offers on the cards that I have. It seems like a no brainer to use my Discover Card for my Amazon purchases through December 31st. 

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The Discover Amazon quarter does end Dec 31st.  The cashback is limited to $75 (based on $1500 spend in that quarter).   If you are a heavy Amazon user, and have Prime, consider the Chase Amazon Prime card which is an unlimited 5% on Amazon purchases, and often 6% if you are willing to wait an extra day for delivery

You will not be able to change your American Express charge card for a credit card, you can just downgrade or cancel it.    Statement credit is mainly like cashback but some people prefer the flexibility of cash back.   The difference becomes more obvious if you decide to stop using the card, then you may end up with a credit balance, which you then have to wait for them to refund by check which can take a long time.

[unsungivy]

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@Anovice wrote:

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@USMCOne wrote:

Really hard to recommend as everyones spending is different. 

Amex has near or the highest cash back in various catagories on their Blue Cash Preferred but that card and Blue Cash Everyday its dolled out as a Amazon credit or statement credit. 

Discover has a compelling offer as they match your cash back after a year dramatically increasing the first years cash back. They have targeted 5% cash back on things each quarter. This quarter for instance is 5% off Amazon and Target purchases. Other quarters it can be grocery store and say gas stations. Other purchases are 1%. 

Capitol One has always been into cash back big time but their main product is 1.5% cash back. Savor offers more but its targeted. 

Chase has some compelling offers. 

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I will add some more information.

I have a Costco Visa card which I use at Costco.

I have a Capitol One Visa that I do not use. I should call them to find out how much cash back it gives.

I have a Discover Card I infrequently use. I am a fairly big Amazon shopper and did not realize that this quarter (until December 31?) is 5% off on Amazon. I am sleeping at the wheel! 

I have a Chase card that I do not use. I should call them to find out how much cash back it gives.

I have an AMEX Platinum Card (second year). I am not longer traveling much, so the annual fee seems excessive. Maybe I should call AMEX and "trade in" my Platinum Card for a Blue Cash Everyday card? You said "Blue Cash Preferred but that card and Blue Cash Everyday its dolled out as a Amazon credit or statement credit." Isn't a statement credit essentialy the same as cash back? 

Clearly, I need to regroup and first find out the cash back offers on the cards that I have. It seems like a no brainer to use my Discover Card for my Amazon purchases through December 31st. 

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Yes, checking what you already have is the best place to start. You most likely don't need to call the companies unless you want to, just Google each of your specific cards and you will be able to find a page that spells out what they do for you.

As stated, you cannot product change an AmEx charge card to an AmEx credit card, you can only change them within their respective categories and same type of rewards currencies.

If you have Amazon Prime, the Amazon Prime Visa is a GREAT cashback card. If you do not already pay for Amazon Prime but do a great deal of shopping there, consider the Affinity FCU Visa, since that gives 5% back on (most) Amazon purchases without requiring an Amazon Prime membership (and also 5% at other Bookstores).

Also... friends don't let friends get the Costco Visa 🤦‍♀️🤷‍♀️

[Anovice]

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@ptatohed wrote:

You have cash back cards that you don't know how much cash back they give? 

Yes.

You pay $695 / yr for a card you don't care about but are worried about getting new cash back cards?  

Yes. Apparently, you did not read my post. I said "I have an AMEX Platinum Card (second year). I am no longer traveling much, so the annual fee seems excessive (emphasis added).