Best Cash Back CC?

[LivingAlmostLarge]

Slug why doesn't it work? The friend said even with the fee the return is like 4.875% if you buy these visa/mastercard prepaids.

Did anyone try this out?

[disneysteve]

I have a Chase card that I get cash from but our main card is our Marriott Rewards Premier card. It doesn't give cash back but we love the free travel we get from it. We also both have Discover cards but hardly ever use them.

[JoshuaHeckathorn]

I travel a lot, eat out a lot, and shop at Costco a lot. The Amex TrueEarnings "Business" card is my friend.

[photo]

I travel a lot, eat out a lot, and shop at Costco a lot. The Amex TrueEarnings "Business" card is my friend.

I don't eat out locally much, but do travel a fair amount and shop at Costco frequently, so I share your sentiment. I've never received a check for over $1,000, but some years it comes close.

[Slug]

Slug why doesn't it work? The friend said even with the fee the return is like 4.875% if you buy these visa/mastercard prepaids.

Did anyone try this out?

LAL,

I'm not sure how your friend does math. If you purchase a $100 gift card for $105 (not sure - fee could be more) including the fee, you'll get $6.30 in rewards and a $100 gift card. 106.30/105 - 1 gives you a return of 1.23%. That's still not worth it to me. I'm happy to understand how it's 4.875% though because that would be worth it if you can explain.

[LivingAlmostLarge]

He said there isn't $5 fee, but I'm not sure. The fee is minimal right now?

[Slug]

He said there isn't $5 fee, but I'm not sure. The fee is minimal right now?

Go to the grocery store and look in the gift card section. Almost all the cards are at cost, but all of the prepaid AMEXes and VISAs charge a fee. It's usually listed at the top of the card. If they didn't, everyone and their mother would be using this hustle.

[LivingAlmostLarge]

Will check it out.

[orenwach]

I think there is an important point about the Discover card that I don't think has been mentioned yet. I have been using the discover card for their 5% rotating categories for a few years and you can easily get the equivalent of 6.25% back instead of 5%.

How?

Discover has many partners that offer deals for buying gift cards with your rewards. Many partners (I usually choose Bed Bath and Beyond, but there are many more) will allow you to buy a $25 gift card for the price of $20 of rewards. This means that you are essentially getting an extra 25% of rewards. This changes your 5% into 6.25%, which is better than any card I have seen so far. The Discover is my go to card when the rotating categories allow and I almost never use it otherwise.

[LivingAlmostLarge]

Got that but discover my issue is the fact that they are not taken everywhere

[orenwach]

I agree that discover is not taken everywhere so I would not suggest having it as your only card, but it works great as a supplemental card.