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Hey Fico Fam ! ,
So last night i was doing some thinking and wondering if im getting the most out of my daily driver ( discover ). My total spend on this card for the year was $20,247. Now i wanted to check with you guys if im calculating this correct . Seems like basic math but knowing me could be looking at this wrong lol. So with discover total cash back i made is $263. i spent $1203 in gas , $4162 supermarket , $14882 everywhere else.
Now i just did the math on a new AMEX Bce card that i just got approved for few days ago with there 3% supermarkets 2% gas 1% everywhere else and my calculations for my kind of spending came out to $ 296. $33 more then discover.
If i had used my Cap1 card where it gives 1.5% back across the board i would had made $303 ? Roughly $40 more then discover.
Now the card i think that would benefit me the most for my kind of spend and only having one card all throughout would be citi 2% double cash . My calculations is $404 that puts it $141 ahead of discover and its 5% rotations.
So my questions..
1. Am i calculating this correctly ?
2. is there a better card for me other then citi 2% that im not aware of as a daily for all ?
I just want to use one card straight through the whole year without flipping back and forth and just trying to figure out the best one for me . Thanks in advance guys appreciate all the advice .
yeah, get a DC for 2% baseline, and get a chase freedom and discover it (you may already have it) for 5% rotating categories.
Definetly something to think about , Thanks for the feedback you 2 !
That's how I'd do the math.
It sounds like your only goal is cash back so the 2% DC would be good. Another option could be the BoA PR if you qualify for the 75% boost. That would put you at a minimum 2.625%, which would have netted you a minimum of $531 (or $436 after the AF). If some of the $14k was in the travel/restaurants, it would have been more that that.
My guess is that you are also trying to avoid annual fees, but with the BoA PR, you come out ahead of the 2% card with your spend (if you are their highest rewards tier). I don't know of any other base rate cards that can beat a 2% DC or the BoA PR 2.625% (purely for cash back) off the top of my head.
@TSlop wrote:That's how I'd do the math.
It sounds like your only goal is cash back so the 2% DC would be good. Another option could be the BoA PR if you qualify for the 75% boost. That would put you at a minimum 2.625%, which would have netted you a minimum of $531 (or $436 after the AF). If some of the $14k was in the travel/restaurants, it would have been more that that.
My guess is that you are also trying to avoid annual fees, but with the BoA PR, you come out ahead of the 2% card with your spend (if you are their highest rewards tier). I don't know of any other base rate cards that can beat a 2% DC or the BoA PR 2.625% (purely for cash back) off the top of my head.
Ollo Optimum is flat 2.5% on all purchases with no AF but it's invite only. If you don't have an offer on Experian CardMatch or Credit Karma, it's out of reach. Worth checking though. I check CardMatch once a month to see if it pops up for me.