cancel
Showing results for 
Search instead for 
Did you mean: 

Combining the Power of Top Cashback Cards

Auto Loans for ANY Credit Situation. Immediate Response.
Advertiser disclosure
Regular Contributor

Combining the Power of Top Cashback Cards

Currently in my credit card portfolio I have:

Discover More 

Citi Dividend

American Blue Cash Everyday

Chase Freedom 

 

I think I have cover all the bases. However, is there a real advantage of keeping all these cards in my wallet? I know the quarterly rotating category may be a little bit different, but I wonder if it is worth the effort to keep tracked with all these cards. Any opinion, especially from people with one or more of these cards?


Starting Score: EQ: 703 (4/2011);
Current Score: EQ: 738 (04/2013)

Goal Score: ALL 800

Take the FICO Fitness Challenge
Message 1 of 8
7 REPLIES 7
Regular Contributor

Re: Combining the Power of Top Cashback Cards

I'm glad to have my Amex green. Buy, build points, they never expire.

I did recently accept a Discover card though since it would be another prime card to build history with.

But I know my nature. I won't submit my attention to "signing up" every quarter though. If it suits me to use it then I will.

I want simple and Amex does that for me.

So my Amex remains my prime mover.
BK to fall off 2/12 - DONE!
myFICO (6-14-11): EX ?, EQ 684, TU 713
FICO (5-17-12): EX: 731
CreditSecure FAKOs (6-14-11): EX 745, EQ 661, TU 654
CreditSecure FAKOs (5-17-12): EX 732, EQ 671, TU 697
Goal: 760 across the board
Message 2 of 8
Frequent Contributor

Re: Combining the Power of Top Cashback Cards

You might need to add fidelity amex to cover majority of expenses not including in those cards. It worth my effort to keep the best card in specific categories in a wallet like citi forward for restaurant or penfed reward for gas but I'm tired of keeping track of rotating categories cards like chase freedom especially when there is maximum cap for reward.
Message 3 of 8
Valued Contributor

Re: Combining the Power of Top Cashback Cards

What are the maximum caps and how likely are people to actually reach them?  Is the Fidelity Amex the one that puts your earnings directly in a brokerage account?

11/30/08 TU 648 EX 672 EQ 656 SEPT 2014 TU 787 EX 789 EQ ???
Amex BCP $24.1K/Clear $8.5- Sallie Mae $27.5 -Cap One QS $7.5 - Chase Freedom $7.5/United $5k/CSP $20k/Ink- Citi DP $9.5/Dividend $13k/HHHx2 $15k/16.4/Reserve $4.5k Best Buy $1940 HD $1701- Discover IT $15k - Elan $8k GEMB Lowes $20k - Macy's $2k - Kohl's $800




Starting Score: 648
Current Score: 736
Goal Score: 765


Take the FICO Fitness Challenge

Message 4 of 8
Regular Contributor

Re: Combining the Power of Top Cashback Cards

Another thing; someone once posted about how much they made in cashback.

 

The result there though was that, despite making some money back, the hassle of constantly keeping track was just not worth it in the end.

 

 

Something along the lines that hassle-free use was making them 80% of what they could potentially make.  That additional 20% just wasn't worth effort.

BK to fall off 2/12 - DONE!
myFICO (6-14-11): EX ?, EQ 684, TU 713
FICO (5-17-12): EX: 731
CreditSecure FAKOs (6-14-11): EX 745, EQ 661, TU 654
CreditSecure FAKOs (5-17-12): EX 732, EQ 671, TU 697
Goal: 760 across the board
Message 5 of 8
Valued Contributor

Re: Combining the Power of Top Cashback Cards


@clocktick wrote:

What are the maximum caps and how likely are people to actually reach them?  Is the Fidelity Amex the one that puts your earnings directly in a brokerage account?


The maximums on the Discover categories are pretty low. Some of their 5% cashback categories have a $200 purchase amount maximum. That's only $10 cashback. And you do have to sign up for them each quarter.

 

My best cashback is the PenFed. The 5% on gas and 1% on everything else is given to you as a credit on each statement. No signing up. No remembering. It's just there as a credit. It's my favorite for cashback.

Message 6 of 8
Frequent Contributor

Re: Combining the Power of Top Cashback Cards

You could redeem cash back without brokerage account but having account will help lower threshold of 2% cash back to only $2500 for 50$ while non fidelity customer will need to meet $12500 level to get $250 back.
Message 7 of 8
Regular Contributor

Re: Combining the Power of Top Cashback Cards

When I only had my Discover More, due to the pitifulness of that tier program, the majority of my cashback was earned through 5% categories and shop discover. The highest cap on the Discover card is somwhere along the line of $800 during the quarter when they have 5% on Airline purchase. Now that I have Chase ($1500 spending cap each quarter) and Citi ($300 total cashback in a calendar year), I think the Discover is looking less and less attractive to me.


Starting Score: EQ: 703 (4/2011);
Current Score: EQ: 738 (04/2013)

Goal Score: ALL 800

Take the FICO Fitness Challenge
Message 8 of 8
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.