Spending Chart Attached - Tell me what CC I need!

[Anonymous]

Thank you in advance for any comments and help....!
Been reading the forums for a few weeks and my analytical & indecisive nature is getting the best of me.  I am looking for a suggestion of the best single card to complement the BOA Cash Rewards VISA card ($22K CL).  Cash back is preferred since we don’t travel that often but I did take a look at our spending annually to give you a little glimpse.  My wife and I both have great credit (750-800) and pay off the cards in full each month.  We are Costco members and Amazon prime members.
Groceries: $3,900 (Currently 2% with the BOA card)
Gas: $2,500 (Currently 3% with the BOA card)
Dining: $6,000
Costco: $2,000 (Currently 2% with BOA card)
Amazon: $2,200
Everything Else: $5,200
 
The card I am leaning towards (based on an excel speadsheet I put together) is the UBER Visa but also interested in the Costco Visa, Amazon Visa or the Alliant 2.5 Flat Cash Back option.  Ideally I would only like to have 2 active cards and I would add my wife as an authorized user for which ever I pick and just cover all the categories with just 2 cards.  I don’t want to have to worry about having a spreadsheet to keep track of deals/categories/etc.  
 
Any suggestions or recommendations would be great!

[Anonymous]

bump to the top

[xaximus]

As I look over your spending - a few things of note.

Groceries: $3,900 (Currently 2% with the BOA card) I would keep this. Anything better would either be the Amex BCE or BCP which has an AF.
Amazon: $2,200 (I would have a dedicated Amazon card, that's what I do. I keep all my Amazon purchases on it that way, it's easy to track and plus 5%. I would recommend just getting either the Amazon Visa/Store card).

Gas: $2,500 (Currently 3% with the BOA card) Costco 4%
Dining: $6,000 - Uber 4%
Costco: $2,000 (Currently 2% with BOA card) - Costco 2%

Everything Else: $5,200 - I think a 2% card would be useful here.

So, I currently count 4 cards. That may be too much. But keep this in mind, that way, you are maximizing your benefits and it may be worth it. On low spending, 1% doesn't really make a difference, but once the spending goes up, it starts coming into play. Example - for the everything else spending (5.2k), the difference between a 1% vs. 2% card factors out to be $52. You mentioned the Alliant 2.5% card, which is a good card but has an AF, which negates the 2.5%. The spending would have to be much higher to make it worth it over any other card.

To summarize - I would get the following cards. 

Costco Visa

Amazon Prime (Store or Visa)

Uber Visa

Either Citi DC or Paypal 2% CB.

[Anonymous]

So if we add 2 more cards does it make sense for my wife to apply for one and for me to apply for the other and then add each other to each card as authorized users? 

Also - The photo below is the spreadsheet I put together.  Nothing fancy but the Uber + BOA edges everthing else i was looking at...

[IMG]http://i66.tinypic.com/2hdtov8.jpg[/IMG]

[longtimelurker]

Depending where you are located, there may be other options.  For example, in (parts of?) CA you can get the Golden One credit card, which gives 3% on gas, groceries and dining.   This + a 2% card would do quite well.   Adding in the Uber would give you $60 more a year, which may or may not be worth the additional complexity.

[Kforce]

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@Anonymous wrote:

Any suggestions or recommendations would be great!

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My two card pick would be to get a flat 2% general spend

(Citi DC, Fidelity, Pay-Pal, Etc) and

If you live in any of these states

get the Bank of the West cashback card.

3% gas, grocery, fast-food and restaurant.

With your spend 2.5%, no annual fees and two cards.

If you want 4 cards the next two would be the "ducks" for 5% gas and

the Amazon store for 5% Amazon.

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[Anonymous]

If you do a lot of grocery shopping at Whole Foods, the Amazon Visa would definitely be one of my top two as that would be 5% for Amazon, 5% Whole Foods, and 2% gas and drugstore purchases. Not great for gas , but hey...it's something.

[Anonymous]

Thoughts on the Alliant 2.5% card?

[Anonymous]

Hey Bush,

I looked at your spreadsheet and I don't believe you have factored in the extra $50 subscription bonus for hitting the 5k spend on the Uber.  Obviously that bonus can reimburse you for your Prime subscription every year.  Add in cell phone insurance and I think the Uber is in your future.

[Kforce]

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@Anonymous wrote:

Thoughts on the Alliant 2.5% card?

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For what you put on general spend at this time, after the annual fee it is about a 1.5% card

A true 2% with either a couple of 3-4% cards or a couple of 5% cards will get you better return.

If you want it really simple, all spend on it will get you close to 2.5 but 3%+ is easy with 3-4 cards.

You need to keep 3-4 open for "Fico" scoring so they might as well get you something.