please recommend rewards CC

[feh]

Hi folks.

We've been using a BP Visa card from Chase for the last several years. We use it for just about every purchase/expense. Our overall cash back has been close to 2%.

We received a mailing yesterday stating it's being replaced w/ a card that has greatly reduced rewards, so I'm shopping for a new card.

Relevant info:

• we don't travel a whole lot, so cards geared towards big travel-related expenses are probably out
• we just want cash back; don't want to deal w/ miles/points
• we use the card for everything

Have a CC you'd recommend? Thanks!

[Slug]

If you want a single card, I recommend the Fideilty Investment Rewards AMEX of the Sallie Mae VISA. Both offer 2% cash back if you work the systems correctly and carry no fee.

If you will carry multiple cards, I would add:

For Gas: The PenFed Platinum Cash Rewards card which gives 5% back on gas year-round. Although other rewards with this card have dropped, I think the gas reward is safe.

For Groceries: I have been very pleased with my new American Express Blue Cash Preferred Card which pays me 6% back on all grocery purchases. It also pays 3% on gas and 1% on everything else, but I only use it at the grocery store. However, you can buy gift cards at the grocery store for almost every other retailer on the planet and get 6% back. The downside to the card is the card carries a $75 annual fee, but it's worth it.

You could also add in either of the rotating rewards cards (Chase Freedom and Discover) to capitalize on their 5% cash back categories.

You should be able to average well over 2% using this collection. I know I do. One only needs to be mindful about which card you're using for a purchase. Good luck.

[MonkeyMama]

I'll second Fidelity rewards AmEx, though you need a Fidelity account to redeem points, I believe.

Credit card companies are really lean on ongoing rewards these days but BIG on one-time rewards.

Chase Sapphire & Southwest Chase & Citi Thank You are some cards to consider for great one-time rewards ($500 a pop - if not offered now, keep an eye out. I believe Chase is offering $500 rewards right now). My ongoing rewards have really took a hit this past year but I made an insane figure ($3500?) on one-time rewards in 2011. Of course, my spouse and I both applied for all of the above, so there is an easy $3000 ($1500 x 2). It's not for everyone, but 1% and "more on rotating categories" is kind of becoming the norm for ongoing cards. Problem is we are used to getting rewards on gas and groceries (our biggest expenses) and don't generally spend in any of the rotating categories. I find it real annoying.

[GREENBACK]

Problem is we are used to getting rewards on gas and groceries and don't generally spend in any of the rotating categories. I find it real annoying.

I have a Chase card with the rotating cartegories as well. I tried to utilize these at first but got tired of trying to keep track of it.

[kork13]

Only one I'll add for now is the Capital One cash rewards card... effectively a 1.5% cash back (1% immediate, .5% 'bonus' at year end).

PenFed is rolling out a new points-based card, which offers 5 points for gas, 3 points for grocery, and 1 point for the rest (all per dollar), but if you don't want to do points, that one's probably out.

[MonkeyMama]

PenFed is rolling out a new points-based card, which offers 5 points for gas, 3 points for grocery, and 1 point for the rest (all per dollar), but if you don't want to do points, that one's probably out.

Thanks for the tip - that one sounds good for our needs. Depending on what the caps are?

[kork13]

Thanks for the tip - that one sounds good for our needs. Depending on what the caps are?

No caps to my knowledge... I've been away from home for the last couple months, so I haven't gotten the letter that apparently details the offer, but I just got an email from PenFed the other day mentioning it. Apparently there's also a 25,000 point bonus (worth $250) when you sign up or switch from the other Cash Back card, after spending $1000 in the first 3 months (right up your alley, MM! )

Here's the site that PenFed sent me that has some info.

I'm curious of how long the sign up bonus will be running... I normally don't spend $1k in 3 months' time on gas/groceries, so I'd have to charge everything I can to it in order to trip the bonus. However, it's definitely a better rewards program than PenFed's recently scaled down cash back card, so I'll almost definitely be signing up for this one...

[MonkeyMama]

Reminds me, I got a not-so-great Pen Fed credit card offer by mail. I decided against it because had the extra step of applying for membership. Was maybe only $100 reward? Well, glad I waited? In fact, will probably wait until after our refi is finished, to be on the safe side. Maybe we will get an enticing offer in the mail for this new card... Anyway, I will have to wait about 10 days. I don't want to mess with my refi application by adding more credit in the interim.

[Gina23]

I just opened a Chase Freedom card. If you spend $500 within 3 months (which should not be difficult if you put bills, etc, on it) you get $200 back. It's 5% rotating categories, right now it's gas and Amazon.com. Next it's groceries and something else, I forget. I found it most useful for me being as though I don't travel a ton and would rather have cash back. I haven't gotten any rewards yet, but I'll let you know how it goes. It's my first time using a credit card in years. It will be paid off in full each period as to not incur interest.

[pdweaver]

Ill second the Chase Freedom. Gina explained everything perfectly.

I save around $20-$40 a month using mine. Love IT

[JoshuaHeckathorn]

If you're a Costco member, I'll add the Amex TrueEarnings card to the list as a solid cash back option. The annual fee is waived for members, and the best part about this card is you can actually get "real" cash back. All you need to do is walk into a Costco with your redemption coupon and they'll give you cash in return. You can't do that with any other card.

[photo]

All you need to do is walk into a Costco with your redemption coupon and they'll give you cash in return. You can't do that with any other card.

I just did that today with a US Bank Visa card. They didn't give me cash over the counter but did deposit the cash into my checking account with them. I also have the Costco Amex card, which is great.

[kv968]

Bank of America recently sent me an offer for their card. $100 bonus if you spend $500 within 90 days and 1% on everything, 2% on groceries and 3% on gas with a $1500 quarterly cap on the extra percentages with groceries and gas. They also add an additional 10% on your redeemed rewards if you deposit them into a Bank of America account which I already have.

Not a stellar offer, but I may do it and use the 3% gas and 2% groceries when my Chase card isn't offering 5% in that quarter.

[JoshuaHeckathorn]

I just did that today with a US Bank Visa card. They didn't give me cash over the counter but did deposit the cash into my checking account with them. I also have the Costco Amex card, which is great.

There's just something extra nice about having them hand you cold hard cash in hand!

[Gina23]

Wheeeeeeeeeeeeeeeeeee! I just applied $209 dollars to my statement balance due to the kickback promotion from Chase Freedom. Now that's something to cheer about!