Favorite "Cash Back" Credit Card?

[SuzyQue]

I've decided that after our February trip to Disney, I'm done with the Disney Visa card, too many other cards offering better percentages on cash back. Was leaning toward the Citi Dividend Platinum Select (5% back on supermarkets, drug stores & gas stations) until I found out they limit your annual cash back to $300.00. Then I liked AMEX "Blue", but they will only "credit" cash back to your account, no checks mailed out like other cards. So now I'm looking at Chase Ultimate Cash Award card, no limit on cash back earned and isn't credited to your account. Not worried about finance charges, pay it off every month. Any opinions? ~~

 

[jekjones1558]

I'm using my Citicard until I've reached the limit. I cashed out just before Jan. 1 (since it is a calendar year limit) and when I reach $300 this year I'll start using another card. When my check came in the mail, there was a flyer included that gives me 6% and 2% for the next 3 months.

 

[SlightlyGoofy]

I use my Citibank card for food, drugs and gas (5%) and my Disney card for everything else (double points). So far I like my Citibank card much better, it is easier to see my rewards and they are adding up faster and cash is so much easier to spend than a debit card that is only good at select places. I hope to have enough to pay for at least one AP. We are retired and do not have the opportunity to charge business things to get more points.

Slightly Goofy

 

[raven3517]

If you don't want to be limited to points/amount redeemed, check out MBNA's WorldPoints card. Many of my family members use it - you get to choose between cash back, travel rewards, merchandise/gift cards or eBay anything points. They will mail your check to you, as well, if you choose the cash back.

 

[Renysmom]

We just use our American Express and cash out the points for AE gift checks which are taken anywhere that takes AE. So far I have $300 in checks and expect to have about $250 more before we go in October. We use the card for everything we can

 

[crazymomof4]

I use my Citibank card for food, drugs and gas (5%)

Slightly Goofy

Ditto. I use my Discover (1%) for everything else. I put EVERYTHING on these cards! If I rent a movie for $3.79 I put in on the card! We also pay the balance each month so the cashback is pure gravy.
I think Discover will eventually feel the heat of the 5% offered by other cards and make that their policy too. Just speculating.
I love the cashback! It adds up quietly, like the loose change jar. Money saved without ever feeling it.

SuzyQue What's the % on the cashback from Chase Ultimate Cash Award?

raven3517 What's the % on the cashback from MBNA's WorldPoints card?

Also, I was thinking about trying this: When we reach the $300 limit on Citi card, I wonder if I could open a new card under my husband's name (he is an authorized user on my Citicard now). That way we could get another $300 using that card. Has anyone done this?

 

[DMRick]

Was leaning toward the Citi Dividend Platinum Select (5% back on supermarkets, drug stores & gas stations) until I found out they limit your annual cash back to $300.00. Then I liked AMEX "Blue", but they will only "credit" cash back to your account, no checks mailed out like other cards.
***********

The AE seems to really limit the percent, unless you carry a balance, which I don't. Am I reading it wrong? Hubby and I both applied for our own citibank, which gives us $300 each.

 

[raven3517]

raven3517 What's the % on the cashback from MBNA's WorldPoints card?

You get up to 1% cash back, in the form of points ($1=1 point). But they have lots of different merchants that you get 'bonus' points through, so you can earn the money faster. Points don't expire until after 5 years (vs. the normal 1-3).

 

[SuzyQue]

jekjones1558
Thanks, I didn't think about switching cards when we reached $300.00

Renysmom
Thanks to you to, didn't realize there was a way of getting around the crediting it to your account. Is there an expiration on the AE gift checks, or a fee for getting them (like travelers checks)?

crazymomof4
It's up to 5% for supermarket, gas station, drug store & home improvement, with up to 2% on everything else. But here's where it gets tricky, the percentage is based on your annual level of net purchases (where I think Citi is 5% and 1% no matter what). Once you've charged $6,000 in a calendar year, you get 3% on supermarket, gas etc. and 1.50% on everything else. Then if you carry a balance from month to month (and I read the balance can be as little as just cents) then you get another 2% on supermarkets, gas etc. and another .50% on everything else. Does anyone know if Meijers is considered a "supermarket"?

DMRick
With AMEX, you can't get the last 2% unless you carry a balance (just like I explained above for the Chase card). But you can get the 3% and 1.50% without carrying a balance. But I think your idea of my DH and I applying separately for Citi cards is the best solution.

For those of you who already use Citi cards, is the 5% and 1% right off the bat, or do you have to build up a balance first like the other cards?

 

[DMRick]

It's right off the bat. Although right now they are giving me 6% for drugs, gas, and supermarket. My daughter is also getting 2% on everything, it came with her last bill. She also got their cards "linked" so they can pay on bill. I"ll pay on line, so I don't care about that.
Oh..and don't forget to claim you cash back as misc income on your income tax. Yep, it's taxable

 

[Renysmom]

Suzyque wrote:

"Thanks to you to, didn't realize there was a way of getting around the crediting it to your account. Is there an expiration on the AE gift checks, or a fee for getting them (like travelers checks)?"


Glad I could help... They have no expiration date as far as I know.. Last time I asked, about 2 years ago they said no and I used some at Christmas and there was no problem and I had those for about 9 months.

Kelly

 

[swilshire]

Just curious about why you don't like the rebates deposited to your account. I can't think of anything that would be simpler. You get a smaller bill to pay. Sounds good to me.

Every time I get a rewards card I like, they change the terms dramatically after they rook you in. MBNA is a master at this. I doubt I'll ever fall for one of their scams again. My most recent disappointment was the AAA card that gave you 5% back on gas for a while, then dropped back to some sort of tiered plan that I haven't even tried to figure out.

I'll be following this thread with interest. I'd really like to find a good card that I can keep long term.

Thanks,

Sheila

 

[psimon]

I've decided that after our February trip to Disney, I'm done with the Disney Visa card, too many other cards offering better percentages on cash back. Was leaning toward the Citi Dividend Platinum Select (5% back on supermarkets, drug stores & gas stations) until I found out they limit your annual cash back to $300.00. Then I liked AMEX "Blue", but they will only "credit" cash back to your account, no checks mailed out like other cards. So now I'm looking at Chase Ultimate Cash Award card, no limit on cash back earned and isn't credited to your account. Not worried about finance charges, pay it off every month. Any opinions? ~~

I am curious why you don't like the money credited to your account? If you have to pay a bill, why not let them apply the money for you? I have the American Express Green Cash Rewards card. I get 3% on gas, food, drug stores, and home places (like Home Depot, Lowe's, etc.). Everything else is 1.5% back. I pay the bill in full each month and the cash back just keeps growing. Last November I got a credit of almost $800! Considering my trip to WDW was in November, it came at a great time. Even if the trip didn't coincide, I would still be glad to see that lump sum appear.

thoughts?

---Paul in Southern NJ

 

[crazymomof4]

SuzyQue and raven3517

Thanks for the replies!

 

[SuzyQue]

swilshire and psimon
I know it sounds silly, but I like to get the money back to put it my "Disney" account, so I can let it collect interest (ever so slightly) and watch it grow. That's why I originally got the Disney card, so I could watch it grow for Disney, but I'd be making more with some of the other cards.

DMRick
Can I call and apply for both my DH's card and mine at the same time? Right now they are offering a $50 Statement Credit, would we get that times 2?

psimon
According to what I've read, you don't get that 3% and 1.5% until you've charged $6,000 in that calendar year, the interest goes up on a tiered basis. I want to purchase Disney MYW passes as soon as I get the card, so with Citi I'll be getting the full 1% right away.

 

[psimon]

psimon
According to what I've read, you don't get that 3% and 1.5% until you've charged $6,000 in that calendar year, the interest goes up on a tiered basis. I want to purchase Disney MYW passes as soon as I get the card, so with Citi I'll be getting the full 1% right away.

A couple of thoughts.....

You are correct, you work your way up, and at $6000 you earn the hightest rates. Unfortunately I haven't had problems reaching that level!

As to the getting the 1% right away..... I still don't think you come out ahead. My average was around 1.7% for the year. I realize that your cash back would depend on what percentage of the "3%" stuff you purchase vs the "1.5%" stuff you purchase. Bottom line.... your total kickback will be higher. Considering that interest earned these days isn't very large, you might want to run the numbers and see where you acutally fall and which really comes out better!

Just my $0.02!

---Paul in Southern NJ

 

[SuzyQue]

psimon
Thanks so much for your 2 cents, all very good points. We usually average around 2,000 a month on our card, I'm just wondering whether having the 5% all the time (from the very beginning) balances out only getting the 1% on everything else (verses your 1.5%) in the end. Well at any rate, I found out I could squeeze the new MYW passes in during this billing period on my Disney Visa, and the rewards from them will be available to us for our Feb. trip, so that crisis has passed. Still gonna switch credit cards tho, thanks again for your help.

And does anybody know if Meijers Thrifty Acres are considered "supermarkets" to the charge card companies?

 

[dizcrazy]

Is there a code to ask for to get the $50 state,ent credit from CitiBank? I am about to apply.

 

[georgina]

Oh..and don't forget to claim you cash back as misc income on your income tax. Yep, it's taxable

I never thought about that! I've never been sent a 1099 on any of my rebate cards, and I don't usually report income unless someone reports it to me as such. Now that you've told me it is income, I'll have to give it some serious thought, I guess.

 

[SuzyQue]

No "code", they have an ad in the coupons I get in the Sunday paper. I'll pm or e-mail you with the phone number. ~~