Your Ideal Cashback/Rewards CC Lineup

[M_Smart007]

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@AverageJoesCredit wrote:

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@Anonymous wrote:

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@AverageJoesCredit wrote:

Ideal cashback card would be no minimum redemption  . Us LIErs hate $25

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Or in the case of More Rewards, $50.....

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Yikes!🤯

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$50 is peanuts  .. once a month easy

[Namaste7]

Card Combo #1 - Free

• 5% rotating card - Discover It, Chase Freedom or US Bank Cash+ (or local/regional bank)
• 2% card -  PenFed or Apple card for easy redemptions OR SDFCU, Fidelity or Citi DoubleCash (banking relationship). This list is not exhaustive.

Card Combo #2 - $95 AF and $100k deposit for Platinum Honors

• Premium Reward | 3.5% Travel and 2.65% Else
• Cash Rewards | 5.25% Category and 3.5% Grocery and Warehose (2,500 per qtr)
• Discover IT | 5% rotating category

Card combo #3 - ($550-800)

• AMEX Charles Scwab Platinum | MR cash redemption booster | 5.25% Air and Amex Travel
• AMEX BBP | 2.5% Else
• Optional add: AMEX Gold for additional category benefits| 5% Grocery and Dining
• Statement credits up to  $720 from Amex (based on spend) and up to $200 Scwab (based on deposits)

[wasCB14]

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@Namaste7 wrote:

Card Combo #1 - Free

• 5% rotating card - Discover It, Chase Freedom or US Bank Cash+ (or local/regional bank)
• 2% card -  PenFed or Apple card for easy redemptions OR SDFCU, Fidelity or Citi DoubleCash (banking relationship). This list is not exhaustive.

Card Combo #2 - $95 AF and $100k deposit for Platinum Honors

• Premium Reward | 3.5% Travel and 2.65% Else
• Cash Rewards | 5.25% Category and 3.5% Grocery and Warehose (2,500 per qtr)
• Discover IT | 5% rotating category

Card combo #3 - ($550-800)

• AMEX Charles Scwab Platinum | MR cash redemption booster | 5.25% Air and Amex Travel
• AMEX BBP | 2.5% Else
• Optional add: AMEX Gold for additional category benefits| 5% Grocery and Dining
• Statement credits up to  $720 from Amex (based on spend) and up to $200 Scwab (based on deposits)

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Notably BofA PR has a $100 airfare extras credit which probably at least as flexible as the similar Amex credits. I got $100 AA eGCs for 2019 and 2020.

And both #2 and #3 offer something as far as PreCheck/GE.

[Anonymous]

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@JNA1 wrote:

I love thought provoking threads like this one. It's always cool to see other people's strategies and often learning about cards/deals/perks that I never knew of.

+1

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[AverageJoesCredit]

Yes we learned thst @M_Smart007  is a Millionaire

[M_Smart007]

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@AverageJoesCredit wrote:

Yes we learned thst @M_Smart007  is a Millionaire

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Just got lucky early in the game

[notmyrealname23]

Ideal

-a card with multiplier travel bonus where the points transfer to an airline at 1-1. Premium benefits like travel protection. High AF maybe, depends if it pencils out.

- a rotating category card for bonuses (super-ideally feeding into that)

- a plain cashback card for everything not covered in items 1 or 2

- every so often, a card that is a throwaway churn and burn card (though I might mostly sock drawer some hotel/airline cards for occasional use with the cobrand partner)

What I have now:

- C1 Venture (not quite ideal as multiplier is low and points transfer at 2:1.5 or less, but I am still in credit rebuild mode)

- DiscoverIt Cashback with Cashback Match (covers categories, doesn't feed Capital One points, but still OK)

- Fidelity Rewards VISA as catchall at 2% cashback 

- Synchrony Cathay Pacific Card as throwaway churn card for SUB

Some other 1.25-1.5% cards for rounding things out + store cards for 5% (Target and Amazon)

All told I am not that far from what I want, given that really good bank cards are still "LOL no, the Ch. 13 hasn't fallen off yet". So it's garden time.

[Anonymous]

Thank you everyone for participating! It was very interesting, yet informative to read your replies. 

[Anonymous]

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@Anonymous wrote:

Thank you everyone for participating! It was very interesting, yet informative to read your replies. 

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Not a problem. 

[recoveringfrombk7]

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@Anonymous wrote:

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@JNA1 wrote:
I don't mind the redemption thresholds so much because I like to save up my cashback anyway. I can see that being a real nuisance if I was needing it though.

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I never save. As soon as the minimum is met, I redeem. I'm not going to have a devaluation or closed card cost me money.

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I save it by taking it and literally saving it/allocating it towards non-regular spend.