Looking for a new cash back card

Noctilum · ‎03-28-2015

I have a Chase Freedom, which has served me well, but I am looking to really cut my spending on the categories it works with and some of the categories do not make financial sense to me. For example, I can't get 5% cashback at Walmart, but I can at a Kroger store. But why pay more for the product at Kroger when I can get it more than 5% cheaper at Walmart + 1% cashback?

So I guess my options are:

1. Capital One Quick Silver - 1.5% cashback on any purchase

2. Citi Double Cash - 1% on purchases, 1% when you pay

3. BankAmericard - 1% on all purchases, 2% on groceries, 3% on gas

Some questions:

1. Does BankAmericard have restrictions on where you can get groceries?

2. I have a useless Citi Diamond Preferred socked away. Would I be able to product change to a Citi Double Cash or have to apply?
3. Do any of these cards require you apply your reward dollars to your statement balance or can you get a check/direct deposit of the money after hording them for a while?

Anonymous · ‎03-28-2015

I can't tell you much about the Citi and Capital; One cards, but at one time, I had the BankAmericard cash rewards.

I can tell you that the two Walmarts in my town counted as grocery stores for that card (but they are listed as "discount stores" on my AMEX). Once you accumulated $25 or more in cashback, you can redeem for a statement credit, direct deposit to a bank account, or a check mailed to you. If you put the cash back in a Bank of America account, they'll give you a little bonus.

Depending on how much you spend, there is a limit to the 2% and 3% cashback. You'll earn 2% cashback on groceries and 3% cashback on gas up until you spend $1,500 on each category per quarter, then anything you spend above that will get you 1%.

Anonymous · ‎03-28-2015

1. I don't think target and walmart are eligible (except the few that are coded as grocery). I had no problem getting CB from other grocery stores.

2. Call CS and ask what PC options are available. Hopefully DC is one of them. If not, PC it to something useful.

3. All three offer redemption options. I usually use direct deposit. BoA provides extra 10% for depositing into BoA checking account.

Anonymous · ‎03-28-2015

Luck allowed a p/c of the Citi DP to a Citi DC. May be worth a question to Citi. Yes, the Citi DP is essentially of minimum value.

Themanwhocan · ‎03-28-2015

What spending categories are you trying to cover, and what is your typical spend like in those categories (either monthly or weekly)? Their are probably better cards out their than your #1 and #3, so it would help to know more details.

The Citi Double cash is good, and you might as well try to PC your Diamond Preferred into a Double Cash. Then try a few more times as well.

TU-8: 804 EX-8: 805 EQ-8: 788 EX-98: 767 EQ-04: 752
TU-9 Bankcard: 837 EQ-9: 823 EX-9 Bankcard: 837
Total $443,800

longtimelurker · ‎03-28-2015

For a short term solution, Discover Miles will give 3% on everything, but just for a year.

lg8302ch · ‎03-28-2015

How about Sallie Mae? This card works at Walmart and Target for the 5% and has 5% grocery, 5% gas and 5% bookstore (Amazon). The only con is the limit if you are a high spender.

Noctilum · ‎03-28-2015

My typical monthly expenses that I use a card for:

Groceries - about $250 a mo.

Gas - about $90 a mo.

Phone bill - $300 /mo.

Car insurance - $70 /mo.

NetFlix - $10 /mo.

Haircut - $15 /mo.

Other small things here and there such as auto maintenance, doctor visit, etc. is charged.

EDIT: When you product change does it change that age of the account?

longtimelurker · ‎03-28-2015

@Corvidae wrote:
My typical monthly expenses that I use a card for:

Groceries - about $250 a mo.
Gas - about $90 a mo.
Phone bill - $300 /mo.
Car insurance - $70 /mo.
NetFlix - $10 /mo.
Haircut - $15 /mo.

Other small things here and there such as auto maintenance, doctor visit, etc. is charged.

EDIT: When you product change does it change that age of the account?

Is phone cell or landline? Cash Plus gives 5% on cell phones. Chase Ink (Cash and Plus) give 5% on all telecommunications, but are business cards

lg8302ch · ‎03-28-2015

@longtimelurker wrote:
@Corvidae wrote:
My typical monthly expenses that I use a card for:

Groceries - about $250 a mo.
Gas - about $90 a mo.
Phone bill - $300 /mo.
Car insurance - $70 /mo.
NetFlix - $10 /mo.
Haircut - $15 /mo.

Other small things here and there such as auto maintenance, doctor visit, etc. is charged.

EDIT: When you product change does it change that age of the account?
Is phone cell or landline? Cash Plus gives 5% on cell phones. Chase Ink (Cash and Plus) give 5% on all telecommunications, but are business cards

Cash+ und Sallie Mae with a PC to Double Cash would be my result 5% almost everywhere like that and no AF cards

edit: and no the account does not change if you can PC Dividend to Double Cash - history remains