What is currently the best everyday purchase rewards card?

[Desmoire]

I currently have Barclay rewards (brand new), and capital one platinum as rewards cards. My capital one is my very first CC, the rewards were nerfed at some time to just 1.5% (i think before i would get 3% for gas and 2% for grocieries) but I still love this card. I personalized the front of it to a picture of me and my fiance so she loves it, and getting an account credit from my rewards is painless. I actually haven't touched my Barclay since I got it. Is the Barclay better?

And finally.. Is there another rewards card out there that is currently the best?

Thanks guys!

[takeshi74]

There's no single "best".  Best is always highly subjective so clearly state your criteria whenever you use the word.  If a single card was universally best then we'd all have it (or have it as a goal).

Is the cash back % for all spend your only consideration in determining best?

[longtimelurker]

"Best" depends on your goals and where you spend.  So there are lots of travel-type cards, some where you can transfer your miles to FF programs (e.g. Chase CSP/Ink, Amex SPG and MR cards), some which are more like cashback but give higher redemption for travel (e.g. Barclays Arrival, Cap One Venture).    But details matter: If your airline isn't a Chase partner (or partner of a partner), then that's not a great solution, and similarly if you don't have a lot of spend in the bonus categories of a card, that might not be a good match.

As Open123 posted, for Cash Back it is somewhat simpler as there are uncapped flat rate cards, Fidelity Amex giving 2% everywhere, a 3% card available only in certain states.   If you are willing to take a risk for short term profits, TD and WF have cards that are uncapped 5% on everyday spending for 6 months (both cover groceries and gas, WF includes drug stores, TD includes restaurants and utilities).

As often commented here, there is no universal best card X, or else this forum would be much less lively:  "Which card should I get?" Chorus of "Card X of course!"

Edit:  Beaten by takeshi74

[Desmoire]

@takeshi74 the answer to your question is... yes? maybe? I am still kinda new to the credit world. If there is a card out there that gives more tha cap 1 plat (1.5%) and redeeming the rewards is painless, then I would want that. But my understanding is there are cards out there that are awesome for gas, dining, and travel. My goal is eventually to have one of each and to use them for their respective strengths.

CSP is the best travel rewards card right? Whats the best gas? whats the best dining?

I will focus on getting those 3 cards over the next couple years I guess and keep using my cap 1 for everyday random stuff.

[longtimelurker]

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@Desmoire wrote:

@takeshi74 the answer to your question is... yes? maybe? I am still kinda new to the credit world. If there is a card out there that gives more tha cap 1 plat (1.5%) and redeeming the rewards is painless, then I would want that. But my understanding is there are cards out there that are awesome for gas, dining, and travel. My goal is eventually to have one of each and to use them for their respective strengths.

CSP is the best travel rewards card right? Whats the best gas? whats the best dining?

I will focus on getting those 3 cards over the next couple years I guess and keep using my cap 1 for everyday random stuff.

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You seem to have missed the point!   No, CSP isn't the "best travel rewards" for everyone, as I said in my post it depends if your airlines/hotels are partners (or in an alliance) with the Chase partners.   Amex SPG has many more options and is cheaper, but can be harder to earn points.

If you spend less than $250 per month on Gas, Sallie Mae is very good for that.  If you spend more, consider Fort Knox or Penfed Cash Rewards

Dining also depends on caps:  CSP is uncapped 2x, US Bank Cash Plus is 5x  but capped at $2K per quarter for new card holders.   Depending how you redeem, 2x points on CSP might anyway beat 5x cash back, or not.

[Desmoire]

@longtimelurker sorry about the confusion. You did clarify that well for me, thank you.

[k-s]

While there is no 'best', my personal favorite is the American Express True Earnings. Most of my spend is gas and dining right now, so for one card, that is the best rewards rate I could get on those two categories. However, I wouldn't give up any of my cards (except maybe the very lame Old Navy card because each one gives me a unique benefit. Yes, the TE and the Chase Amazon overlap and provide the same benefit for dining, but I need both because neither give a reward on both gas AND Amazon. See what I mean? There's really no reason to pick just one card when you could enjoy the benefits of many.

[longtimelurker]

Yes, although I think there is an exception if you decide to totally commit to a program such as MR/SPG/UR or a particular airline/hotel.   Then, depending on your spend and reward being sought, it might make sense to use the single card, even if others would give better rewards on that transaction, to make sure you get the points needed for your reward.