What % back would you need to only have 1 card

[Anonymous]

---

@SouthJamaica wrote:

---

@Anonymous wrote:
So, with the PayPal change looming I was wondering...what would YOU need for a cash back percentage from a card, on all purchases, to get you to use this fictitious card as your one and only. 3%? 4%? 5%? More?
I’d need 3.5%-4%. On every single purchase. All the time.
I see a card that does that I forget everything else and use that card only.

---

There's no card that would make want to have only one card.

1. I don't trust lenders. To me diversification is important.

2. Not all cards are for cash back; some are for travel rewards; some are for lower interest, and less fees.

3. I wouldn't want everything I owe to have the same due date.

4. The percentage of cash back is not the only factor I would consider in a cash back card; other factors are whether there is a redemption minimum, the timing of the reward issuance, the categories or lack of category requirements, the type of spending I'm likely to do, and the quality of the lender.

---

1-That’s pretty much a personal thing I think. If the lender is a legit, large bank such as Amex or Chase I feel I can trust them. After all, it’s me owing them money. Not the other way around. 

2-That’s part of the this hypothetical equation. If just cash back, no points, no perks, no status, no insurance, no SUB, an avg rate I guess, probably in the mid-upper teens, and no fee. To compensate me for giving all of that up, and have the ease and simplicity of using one card for everything, it would be right about 4% back (statement credit most likely). I think I’m just trying to figure out what it would take to get you to voluntarily not use any other cards. Not necessarily that havi g this card precludes you from havi g others. For me, if I could get what I need I’d much prefer to only have and use one card. 

3-There has to be some number that would be enough to accept a single due date?

[wasCB14]

I like having my due dates in close proximity (within 5 days or so). I can pay all issuers at once.

PIF and you only need a backup issuer or two.

[JamP]

I love my Citi DC but now my bills/daily driver is my new Alliant VS 3% no AF for the first year, 2.5 AF $59 after that.

I will keep the Alliant VS until something else comes out that's better.

It would be my only card if I had to only have one.

We all remember when 1%/1.5% was the best card we could get.

I looked at limitless but I didn't want to put 1k a month in there just so I can keep 2.5%, things might change though.

I'm thinking of closing my AARP ($4500 cl and never grew) and possibly others since they will barely get used.

My cards are:

Sams Club 5% - Gas

Cap1 Savor 4% - Restuarants

Amex BCE 3%/6% - Real Grocery Stores

Huntington Voice 3% - Walmart

Citi DC 2% - Was all my Bills/General Spend

Chase AARP 3% - Was Restaurants/Gas

Discover 5% - Categories

Blispay 2% - Was my anything over $199 for 6 months no interest card

Amazon Prime 5% - Amazon

Alliant Visa Signature 3%/2.5% - Bills/General Spend/Everything else

Secondary Cards that get some spend mainly from the DW

Cabelas 2% Cabelas/Bass Proshop with 9.99% apr

TJX Card 5% TJMaxx\Homegoods and a few others

[UncleB]

---

@JamP wrote:

I looked at limitless but I didn't want to put 1k a month in there just so I can keep 2.5%, things might change though.

---

Unfortunately the Limitless is now closed to new applications. 

They stopped offering it before they even finished opening it up to every state (I barely got in myself).

[MakingProgress]

I would no go to just one card.  You don't put all your eggs in one basket.   Too hard to manage util, AZEO, etc. 

[Anonymous]

---

@MakingProgress wrote:

I would no go to just one card.  You don't put all your eggs in one basket.   Too hard to manage util, AZEO, etc. 

---

Surely, in this fictitious universe, it really is just a matter of percentage.   If you got 1000% cash back, I find it hard to imagine something like AZEO would make you decline (and util doesn't matter as you can always PIF with the cashback!)   And if it were 100,000,000% cashback it doesn't really matter if it doesn't last long.   Make a $100 purchase and live off the rewards!

[redpat]

Could care less about the card rewards just don’t take away Amex MR offers, Rocketmiles, AA/Delta/Hilton dining programs, AA/UR and now Ebates shopping portals and Amex transfer bonuses.

If you play your cards right w/ the above your percentage can be between 10% - 30%..

Being able fly anywhere in the world and hotel stays for free is pretty cool.  Thank god for business spend......

I'm in the office this morning and we needed some toner and HP is 5x on AA and 2x on my Amex BRG.$950 purchase 4,750 AA miles and 1,900 MR points plus 400 miles offer going right now.  I could have gone 7x UR through staples but I wanted both AA and MR miles/points.

[xaximus]

Ideally, 5% on everything, no FTF, NAF and a few other simple perks would be perfect. I would use no other card besides that.

[galahad15]

For me personally, a card's cashback percentage rate would have to be balanced with the go-to interest rate, and so I can be somewhat selective, since I sometimes will choose to carry small balances, and I refuse to use a card with double-digit interest rates if I am going to be carrying a balance (with certain exceptions made for high-APR cards that have 0% promos or exceptional rewards available).  The best cards IMO are the ones that carry a competitive cashback rate combined with a single-digit APR.

The rewards cards that I would keep, if I hypothetically had to close all others (all with no AF):

(1)  BEFCU VISA:  normally 1% cashback (if redeemed using the Purchase Erase feature), but also offers recurring, time-delimited promo 2%, 3%, and/or 4% rewards periods thoughout the year.  With 5.49% F go-to APR with no cash advance and no BT fees makes it a definite keeper and actually my #1 preferred card.

(2)  PACU MC:  normally 1.5% cashback, but will offer a few occasional 3% promo rewards periods over the course of the year.  7.50% F go-to APR, also with no BT or cash advance fees plus excellent card benefits such as flight cancellation and lost luggage insurance, etc. makes it an easy #2-favorite card after the BEFCU card.  No min. redemption amount.

(3)  BoA Cash Rewards WMC:  choice of 3% cashback on one selectable category plus 2% on groceries, along with 9.99% F go-to APR (since it was converted from a legacy low- and fixed-rate BoA Platinum Preferred Plus card) makes it likewise irreplaceable.  Also like the fact that with recent card changes in how rewards are redeemed, it now has no min. redemption amount.

(4)  FNBO Amex:  1.5% cashback on all purchases with 8.50% V go-to APR.

(5)  Cap1 NHM MC:  while it has a higher go-to APR of 12.15% V, I would still keep it because it gives 2% on all purchases (albeit must redeem on a travel purchase to get the full 2%), with instant redemption option and no min. redemption amount.

(6)  FNBO Travelite Amex:  3% on all travel purchases and 1.5% on all other purchases, plus annual $100 free travel incidentals feature along with reimbusement TSA-Pre and Global Entry credits.  Higher go-to APR of 17.99% V, but in this case, I make an exception for the high interest rate because of the excellent rewards listed above, all with no AF still makes it a keeper.

(7)  US Bank Cash+ (x2):  again even with the relatively high interest rate, 5% cashback categories between both cards on cable/internet, cell phone, utilities, and fast food make these guys excellent rewards cards.  I would still not carry a non-promo balance on them however.

(8)  BBR (x2):  another 2 high-APR rewards cards that I would make an exception for and keep, since the $30 quarterly credit statement credits between both cards nets free cashback of $240 a year.

[wasCB14]

galahad,

A discussion of single-card rewards sort of implies PIF. 4% cash back isn't much if someone is carrying regularly at 20%.

I guess the question for you would be: What fixed APR would you need to only have one card (assuming you had an adequate CL on it to carry)?