What is the best rewards card right now?

[Whereismynorco]

i made approximately 8kbetween me and my wife last year by opening bank account

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[Thoughtfulsinner]

i made approximately 8kbetween me and my wife last year by opening bank account

You are opening separate bank accounts through the same bank and both collecting a reward? Do you and your wife share the same residence and last name?

 

[mentos]

You are opening separate bank accounts through the same bank and both collecting a reward? Do you and your wife share the same residence and last name?

You can do this with credit cards so I don't see why it would be an issue with bank accounts. That 8k will be closer to 6k after taxes though, credit card rewards are tax free.

 

[Whereismynorco]

You are opening separate bank accounts through the same bank and both collecting a reward? Do you and your wife share the same residence and last name?

yes, separate account same residence, if you dont care abt hard pull from credit card, you can combine with credit card offers and u can make even more money approx 2k more per person

 

[Whereismynorco]

You can do this with credit cards so I don't see why it would be an issue with bank accounts. That 8k will be closer to 6k after taxes though, credit card rewards are tax free.

but then your bonus will be limited, credit bureau wont let you open that many credit cards to get even close to that amount

 

[PharmDminus]

but then your bonus will be limited, credit bureau wont let you open that many credit cards to get even close to that amount

sure they will. i have opened around 50 cards in the past 5 years

 

[mentos]

but then your bonus will be limited, credit bureau wont let you open that many credit cards to get even close to that amount

8k is nothing bro. I have 10-15 cards open all the time and I don't even churn. Go to doctorofcredit, thepointsguy, flyertalk, nerdwallet etc. There's literally tens of thousands of dollars to be made. Sure there are restrictions like Chase 5/24 rule which just means you get the Chase bonuses first then there are plenty of other to go around.

The cards on this page alone add up to almost 8k and it's only a fraction of what's out there.

The Points Guy

 

[Whereismynorco]

how do u guys meet mini spend req? do u guys do serve load or MO? I am trying to get into MS with serve card. do you guys have any tips ?

 

[Momus]

Use plastiq, pay the fee 2.5% to pay your mortgage/rent, open LLC, so you can open those sweet business credit card that gives you 50-100k points. Reload your Amazon account, and buy a ton of gift card/grocery card. Rinse and repeat.

 

[mentos]

I give my wife my card and she hits minimum spend fast.

-Pay car insurance for the year
-Prepay utilities, cable, cell
-buy gift cards to places you normally shop: gas stations, grocery, Amazon. But don't get too many as they can be lost, stolen or hacked

 

[mentos]

Use plastiq, pay the fee 2.5% to pay your mortgage/rent, open LLC, so you can open those sweet business credit card that gives you 50-100k points. Reload your Amazon account, and buy a ton of gift card/grocery card. Rinse and repeat.

No LLC needed. You can get business card using SSN as sole proprietor. Lots of discussion on Reddit about this.

 

[Momus]

But why would you want to pay a 2.5% fee?

Small fee. Do the math... Most card gives you another 1%, so you essentially only paying 1.5% to meet the spend limit for $500-1000.

 

[Momus]

Yea still a 1.5%. I don't see how people have a problem spending 3K in 90 days

Not sure why you only focus on 1 card. I'm telling you to open as many as you want and get $500-1k bonus and pay the fee.

 

[mentos]

Any other large sign up bonus I should get now? I don't want another travel rewards card. Something similar to the Savior card would be ideal

If you don't travel, get Chase Sapphire Preferred 60k bonus. You can easily sell those for $600 considering they're worth $1000+ in travel.

 

[mentos]

I have the reserve tho. Will they give me that one too?

No, but if you really want just cash then there are various brokers that will buy your miles for cash. You can get the airline specific cards that give 50k+ bonus like AA, Southwest, United, etc. Just google "sell airline miles for cash" and you'll get a bunch of websites, if you go on Slickdeals there is a lot of discussion and recommendations too. Not sure what the going rate is, but it'd be at least 1 cent per mile. So 50k miles would be at least $500, probably more. Of course there is a risk so if you do this too much, the specific airlines may ban you from doing it again.

When I was a poor student I sold 50k United miles for $720 or so. It was huge at the time, but now that I have money I would get better value by using the miles for travel.

 

[PharmDBro2017]

I have the reserve tho. Will they give me that one too?

They do if you sign up for both within 24 hours I believe (worked for me, got both CSP and CSR bonus points).

Then one year later you just downgrade the CSP to the Chase Freedom Unlimited, you get to keep the bonus points and you no longer have an annual fee for CSP card.

 

[Momus]

They do if you sign up for both within 24 hours I believe (worked for me, got both CSP and CSR bonus points).

Then one year later you just downgrade the CSP to the Chase Freedom Unlimited, you get to keep the bonus points and you no longer have an annual fee for CSP card.

Or merge with another chase cc, closing one with annual fee. Double your credit limit.

 

[_Cloud9]

Thanks for this post

 

[pezdispenser]

Wells Fargo $400 bonus for opening a checking account:

Checking Accounts—Wells Fargo

Open a new Wells Fargo Everyday Checking account and be eligible to receive a special bonus when completing bonus eligibility and requirements. Member FDIC.

bonusoffer.wf.com

Needs $3,000 x 3 months direct deposit for the bonus

And $500/mo direct deposit or $1,500 minimum balance to avoid $10 monthly fee

I got my $400 from Wells Fargo and no extra accounts were opened without my permission . I also got $300 from Chase.

Now moving on to BMO Harris. In IL, WI, MN, IN you can get $700:

Checking Accounts: Open Online in Minutes - BMO

Checking accounts give you easy access to your money and are great for managing expenses. Choose from our no-fee or low-fee options.

www.bmoharris.com

But AZ, FL, KS, MO, and some counties in IL, WI, MN, IN you only get $500:

Checking Accounts: Open Online in Minutes - BMO

Checking accounts give you easy access to your money and are great for managing expenses. Choose from our no-fee or low-fee options.

www.bmoharris.com

Needs a total of $6k in direct deposits within 120 days and 10 qualifying transactions. No monthly fee with paperless statements. Also needs $5k or $10k for the $700 offer in a 2.05% MMA.

 

[Whereismynorco]

Try Varo money, they are offering $100 bonus for opening new account. just did myself easiest and fastest bonus ever.

https://www.doctorofcredit.com/varo-money-online-bank-account-75-sign-up-bonus-ios-android-sharing-referrals-still-a-nono/

 

[mentos]

Try Varo money, they are offering $100 bonus for opening new account. just did myself easiest and fastest bonus ever.

https://www.doctorofcredit.com/varo-money-online-bank-account-75-sign-up-bonus-ios-android-sharing-referrals-still-a-nono/

$100 is weak. I only do bonuses for $300+ minimum, there are so many to choose from.

 

[Momus]

U.S. Bank Cash+ Visa | Merchants. Tiny $150 bonus... For 5% back, not bad.

 

[mentos]

U.S. Bank Cash+ Visa | Merchants. Tiny $150 bonus... For 5% back, not bad.

At first I thought all of those categories gave 5% but you can only choose 2. Not bad but Chase Freedom and Discover IT offer 5% on more useful categories like groceries, gas, wholesale clubs.

 

[WVUPharm2007]

U.S. Bank Cash+ Visa | Merchants. Tiny $150 bonus... For 5% back, not bad.

Choose department store. Buy gift cards for everything at Target. Boom.

Edit: i guess target isn't included. Bummer.

Edit #2:You can buy gift cards at best buy. Loophole back in effect. https://www.bestbuy.com/site/gift-c...ds/pcmcat325900050007.c?id=pcmcat325900050007

 

[mentos]

Choose department store. Buy gift cards for everything at Target. Boom.

Edit: i guess target isn't included. Bummer.

Edit #2:You can buy gift cards at best buy. Loophole back in effect. https://www.bestbuy.com/site/gift-c...ds/pcmcat325900050007.c?id=pcmcat325900050007

I already have the Target Redcard that gives 5%.

Gift cards are okay if you spend them quickly and don't need the extended warranties or protections of a credit card. If they get hacked you're SOL. I wouldn't buy any electronics with a gift card.

 

[Momus]

At first I thought all of those categories gave 5% but you can only choose 2. Not bad but Chase Freedom and Discover IT offer 5% on more useful categories like groceries, gas, wholesale clubs.

Rotating every quarter and it's a hit or miss. This isn't rotating, you just have to activate it and keep 2 categories the same forever.

 

[PA_dud3]

Rotating every quarter and it's a hit or miss. This isn't rotating, you just have to activate it and keep 2 categories the same forever.

The rotating cashback is why I went with the it Chrome, its flat 2% on gas and food with 1% on everything else. It just seemed like a hassle to keep up with what was eligible for 5% each quarter.

Unrelated note, what would be a good card to get prior to medical school applications? I would like one card to cover MCAT, app fees, airfare and hotels for around 10-15 schools. I looked at Chase Sapphire Preferred but I would prefer a card without an annual fee. Any suggestions would be great.

 

[mentos]

The rotating cashback is why I went with the it Chrome, its flat 2% on gas and food with 1% on everything else. It just seemed like a hassle to keep up with what was eligible for 5% each quarter.

Unrelated note, what would be a good card to get prior to medical school applications? I would like one card to cover MCAT, app fees, airfare and hotels for around 10-15 schools. I looked at Chase Sapphire Preferred but I would prefer a card without an annual fee. Any suggestions would be great.

Put it all on Chase Sapphire Preferred for the signup bonus then cancel after 1 year. 60k ultimate points is worth $1200 in travel or $600 cash.

 

[mentos]

Rotating every quarter and it's a hit or miss. This isn't rotating, you just have to activate it and keep 2 categories the same forever.

It would be good to have both. This card never offers 5% on grocery, restaurant or gas the most essential categories.

 

[PA_dud3]

Put it all on Chase Sapphire Preferred for the signup bonus then cancel after 1 year. 60k ultimate points is worth $1200 in travel or $600 cash.

Is the 60k points in addition to the points you would get from 4000 in purchases too?

 

[mentos]

The rotating cashback is why I went with the it Chrome, its flat 2% on gas and food with 1% on everything else. It just seemed like a hassle to keep up with what was eligible for 5% each quarter.

Unrelated note, what would be a good card to get prior to medical school applications? I would like one card to cover MCAT, app fees, airfare and hotels for around 10-15 schools. I looked at Chase Sapphire Preferred but I would prefer a card without an annual fee. Any suggestions would be great.

Actually if you're going to be traveling for all these schools then Chase Sapphire Reserve is the better value. 50k bonus is slightly less (still worth $1000 in travel or $500 cash). It has $550 annual fee but you'll get $300 travel credit making it essentially $250. You'll get global entry for free ($99 value) which lets you go in the TSA-pre line which is priceless. You'll also get priority pass - free food and booze at airport lounges. There's also $60/year in Door Dash credit + Dash Pass and Lyft premium membership. 3x points for restaurants, travel, free primary car insurance. It's the best value out there.

 

[mentos]

Is the 60k points in addition to the points you would get from 4000 in purchases too?

Yes! Travel and dining are 2x points so you'll probably get more than 4k points if you spend $4,000.

But see my post above about Chase Sapphire Reserve. It's a much better value.

 

[Momus]

It would be good to have both. This card never offers 5% on grocery, restaurant or gas the most essential categories.

I got both long time ago ;p

 

[owlegrad]

Just opened a checking account with Regions for a $500 bonus.

 

[Momus]

Chase Sapphire Preferred $1k bonus with 4k spent in 3 months. Plus $50 grocery credit, first annual fee waived if you open in branch.

Hard to beat if you plan a big purchase, or just dump it to your amazon account/gift cards.

 

[mentos]

Chase Sapphire Preferred $1k bonus with 4k spent in 3 months. Plus $50 grocery credit, first annual fee waived if you open in branch.

Hard to beat if you plan a big purchase, or just dump it to your amazon account/gift cards.

Has the in branch offer started yet? I heard not until the 17th.

I will get this and transfer points to my wife's Sapphire Reserve for better point redemption value.

 

[pezdispenser]

Citi Custom Cash Card

Citi Custom Cash. 5% on your top eligible category every month: Restaurants, gas stations, grocery stores, select travel, select transit, select streaming services, drugstores, home improvement stores, fitness clubs, live entertainment.

$200 bonus after spending $750 in the first 3 months.

 

[mentos]

Citi Custom Cash Card

Citi Custom Cash. 5% on your top eligible category every month: Restaurants, gas stations, grocery stores, select travel, select transit, select streaming services, drugstores, home improvement stores, fitness clubs, live entertainment.

$200 bonus after spending $750 in the first 3 months.

Good but only up to $500 so $25/mo max then 1% after that. I get more than that from 2% double cash card.

 

[Momus]

I still use 5% from us bank cash plus. Set two category 5% back to electronics (best buy) and fast food. Electronics seem to be my guilty pleasure.

 

[PharmtoCS]

Chase Sapphire Preferred $1k bonus with 4k spent in 3 months. Plus $50 grocery credit, first annual fee waived if you open in branch.

Hard to beat if you plan a big purchase, or just dump it to your amazon account/gift cards.

Has the in branch offer started yet? I heard not until the 17th.

I will get this and transfer points to my wife's Sapphire Reserve for better point redemption value.

Nice. So you effectively get $1500 of value when you use the Pay Yourself Back option.

 

[mentos]

Nice. So you effectively get $1500 of value when you use the Pay Yourself Back option.

Pay yourself back has been great during Covid. I've redeemed thousands of dollars worth of purchases.

 

[WVUPharm2007]

5% from us bank cash plus

You should get that Infinite card they have. Everything you buy with a mobile wallet is an effective 4.5% cash back. Just about everyone accepts Apple/Google/Samsung Pay these days. And if they don't, you can still use and LG or Samsung phone with an magnetic stripe emulator at the credit card reader.

 

[StockPharmD2020]

Pay yourself back has been great during Covid. I've redeemed thousands of dollars worth of purchases.

What is pay it back optjon?

 

[mentos]

What is pay it back optjon?

Pay yourself back lets you redeem 1.5 cents per point on grocery, restaurants and home improvement purchases. The same rate as travel since no one was flying during Covid. If you got the 5% cash back from chase freedom categories and transferred to Sapphire reserve then you effectively got 7.5% back.