What is the best rewards card right now?

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PharmDminus said:
amex hilton aspire sign-up bonus is now up to 150k
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Nice I may get this card next. Don't even stay at Hilton hotels much but the benefits look too good to pass up.
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mentos said:
Come on, this is an easy math problem.

$59/.025 = $2360/year to break even. That's not even a paycheck's worth of spending.
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Hello good all right the thing is with this credit card guys is so say it's $59 right that you have to pay every year and you're saying let's say that takes one month away from your rewards so then you really only getting 11 months UP Rewards and when you average out that 11 months UP Rewards over 12 months it significantly reduces your percentage back you're getting so instead of 3% back you might only be getting 2% or 2.5% or 2.8% You have to take into account that significant reduction
 
Modest_anteater said:
Hello good all right the thing is with this credit card guys is so say it's $59 right that you have to pay every year and you're saying let's say that takes one month away from your rewards so then you really only getting 11 months UP Rewards and when you average out that 11 months UP Rewards over 12 months it significantly reduces your percentage back you're getting so instead of 3% back you might only be getting 2% or 2.5% or 2.8% You have to take into account that significant reduction
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If only someone had done the math 13 posts above yours to determine the answer to this...
 
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Modest_anteater said:
Hello good all right the thing is with this credit card guys is so say it's $59 right that you have to pay every year and you're saying let's say that takes one month away from your rewards so then you really only getting 11 months UP Rewards and when you average out that 11 months UP Rewards over 12 months it significantly reduces your percentage back you're getting so instead of 3% back you might only be getting 2% or 2.5% or 2.8% You have to take into account that significant reduction
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So don't get any credit cards with annual fees if you don't want then. We will enjoy our free thousands in rewards every year and you can enjoy your 1.5%.
 
I know that paying annual fees does not count toward minimum required spending; how about fees that you can get a credit toward? So for example if you paid $100 for global entry, and you get reimbursed $100 in credit... does the original $100 still count?
 
Amicable Angora said:
I know that paying annual fees does not count toward minimum required spending; how about fees that you can get a credit toward? So for example if you paid $100 for global entry, and you get reimbursed $100 in credit... does the original $100 still count?
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yes it does
 
For those who haven't signed up - in addition to credit card rewards, it also pays to sign up for:
  1. Loyalty programs for 1%-20% back (e.g. car rentals, hotels, flights, retail stores)
  2. Rebate apps for 1%-20% cash back (e.g. Ebates, Drop, iBotta)
  3. Coupon apps for discounts (e.g. Honey)
They stack! For example, for a $1k purchase at Best Buy you pay for with a 2% cashback credit card and a $50 qualifying coupon you might get back 2% (credit card) + 2% (elite loyalty member) + 1% (current Ebates cash back program) + 5% (coupon) = ~10% / ~$100 back give or take a few $ 🙂

A lot of loyalty programs offer pretty nice rewards - for example you can stretch Hertz loyalty points to ~20% returns for your spend if you rent cars in busy times at places like NYC. Marriott is in the range of 5%-10%. Hilton has a 3x points promotion running right now up until January that could add up to ~25-30% loyalty returns on your spend with a Hilton Aspire (extra returns for automatic Diamond member + credit card points for staying at Hilton). In addition, Ebates has a 1.5% / 1%-5% cashback program in place with Marriott and Hilton.

As another example if you stay at the Marriott using a CSR cc and use ebates, you could get 6% (CSR) + 7.5% (Marriott member) + 1.5% (Ebates) = 15% return on your spend.

I particularly like the Ebates and Honey programs because they’re very low maintenance. You can directly install them as Chrome extensions and use them whenever you travel to a partnered website. You can also install phone/tablet apps if you shop that way. There’s a ton out there though and websites that aggregate the best program deals.

Happy to refer people to those programs or others for a win-win since I think the bonuses go both ways 😛
 
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Modest_anteater said:
Hello good all right the thing is with this credit card guys is so say it's $59 right that you have to pay every year and you're saying let's say that takes one month away from your rewards so then you really only getting 11 months UP Rewards and when you average out that 11 months UP Rewards over 12 months it significantly reduces your percentage back you're getting so instead of 3% back you might only be getting 2% or 2.5% or 2.8% You have to take into account that significant reduction
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yikes. i hope you're not a pharmacist. can't even do simple math.
 
Pharmibippy said:
yikes. i hope you're not a pharmacist. can't even do simple math.
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To be fair I had a stroke a week ago and was in the ER for days. So that might have effected by ability to do math.
 
Amicable Angora said:
Woah what happened man are you alright?
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Yeah. I have many health issues.

The thing with the annual fee is that you always have to worry about spending enough money to make it worth it. What if I want to go a whole year living frugal or as a monk? that is why I think the fidelity 2% back is the best card. No fees. No anxiety or worrying about spending. Let's be real if you like to micro manage your CC spending you can get 5% on some things and by rotating cards you could prob get 5% back every month but that takes a lot of work. Might not be worth it.
 
Funny thing is, I posted the math in my original post but I guess no one noticed. The Alliant VISA beats the Citicard Doublecash 2%/no annual fee if you spend over $11,800/yr ($59 / (2.5% - 2% = 0.5%) = $11,800). I put everything on it, even utility bills where the 3%/2.5% beats the small $1.90 fee my electric utility charges for example. You can really pile on quite a bit on the cards.

Anyways, Modest_anteater I hope you are feeling better...

I don't know if anyone already posted about the Capital One Venture card but it seems like the clear winner for booking hotels. It's 10% rewards on Hotels.com (make sure you use their special link) and then Hotels.com has their own rewards (I calculate it to be about 8.5% in free nights) so that's like 18.5% rewards. Plus the $500 promo, no annual fee first year and $100 global entry is awesome.
 
Monsterdaddy said:
Funny thing is, I posted the math in my original post but I guess no one noticed. The Alliant VISA beats the Citicard Doublecash 2%/no annual fee if you spend over $11,800/yr ($59 / (2.5% - 2% = 0.5%) = $11,800). I put everything on it, even utility bills where the 3%/2.5% beats the small $1.90 fee my electric utility charges for example. You can really pile on quite a bit on the cards.

Anyways, Modest_anteater I hope you are feeling better...

I don't know if anyone already posted about the Capital One Venture card but it seems like the clear winner for booking hotels. It's 10% rewards on Hotels.com (make sure you use their special link) and then Hotels.com has their own rewards (I calculate it to be about 8.5% in free nights) so that's like 18.5% rewards. Plus the $500 promo, no annual fee first year and $100 global entry is awesome.
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Both great stuff. You can also churn checking/savings accounts too for an easy $2-5k per year with banks' sign up bonuses. Takes ~15min-45min to sign up for one account for $300-500 bonuses which isn't bad.

I think the Hilton Aspire is better for people who travel more often and want to accumulate hotel loyalty rewards and enjoy the bonuses (~30% returns; you don't get hotel loyalty through external prepaid vendors like hotels.com), but the Venture card is good for those who don't travel as much or want a brand-agnostic card.

There's a few more things you can do as well with Credit Cards that are 100% passive in addition to Honey and Ebates:

1. Link your credit cards to the Rewards Network partners (e.g. United, American, iDine etc). 1000s of restaurants for completely passive 5%-10% back in miles or $. Each partner has sign up bonuses as well for going to restaurants within 30 days that you can cycle through (Delta and United are 2500 miles each for $25 spend x4 trips).
2. Link your Uber account to Visa Trial Pay - you can do this via the app. Get 10% back in credits at participating restaurants (there's a good amount). Stackable with everything else described in the previous post and in this one.
3. Link your Uber account to Shop Your Way and to Thanks Again. Every ride you take, you get a flat $2 in Shop Your Way rewards (Sears, Kmart, Lands End) and a flat $0.25 in Thanks Again rewards. Shop Your Way points expire 2 months after they're credited but it's free.
4. Thanks Again is partnered with 100 airports around the world and is a passive 5%+ return for participating vendors at those airports.
5. Link your Lyft account with Delta and JetBlue on the website. You get flat 30 Jetblue points and 1 Delta mile per $ spent on each ride.
6. Sign up for Dosh and link your CCs there. Get 1%-5% back passively for participating brick and mortars. Doesn't stack with Rewards Network or Thanks Again but Dosh has different restaurants and other types of retailers included.
7. Sign up for Drop for 1-2% Drop points back that stack. Some partners are Dunkin' Donuts, Starbucks, Uber, Lyft, Macys, Trader Joes, Whole Foods. Can't use a business or corporate card though and you need to sign in to your CC's bank account so depends on your privacy prefs. They use the same external vendor for security as Mint (Plaid).

Seems like a lot, but all of these apps are very low to 0 maintenance if used as described, which is why I use them. Set and forget 🙂 If you decide to use them, be sure to sign up with referrals if available so you gain a sign up bonus too.
 
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Momus said:
https://www.doctorofcredit.com/chase-600-checking-savings-bonus/

It's time of the year again when I get bored... $600 bonus from Chase Bank. Not bad haul for a day off work.
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Nice if your state offers it. I've seen $400 from Citizens and $350 from HSBC. You'll get a 1099 for bank bonuses though, I prefer credit card bonuses.

If you haven't done them yet:
Chase Sapphire preferred increased bonus to 60k.
Barclays Arrival increased bonus to 70k.
 
msweph said:
Did the same - had some larger expenses coming up so it's a fee $500.

They credited it very quickly - within 7 days of me making the 3K purchases. I already cashed the bonus to a statement credit and paid the balance. Now I'll just wait a bit and cancel the card.
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I was worried about the language saying a 500$ cash bonus, I'll be hitting the bonus this month and didnt realize you could use it as statement credit - this means avoiding paying income tax on the $500 as well correct?
 
Prepharm1214 said:
I was worried about the language saying a 500$ cash bonus, I'll be hitting the bonus this month and didnt realize you could use it as statement credit - this means avoiding paying income tax on the $500 as well correct?
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Any credit card bonus isn't taxable.
 
msweph said:
Did you read if there was any time period required before cancelling ?
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I'll cancel before 1 yr hit, 10-11 months in... Coz I can use 4% back on dining and entertainment.

Bank bonus normally wants 6 months account opening, I'm sure it's not that different with cc.
 
Pharm.C. said:
My current setup:
-Citi Cashback 2% off everything (Mastercard not accepted at Costco)
-Discover it card 5% off rotating categories and 10% off first year
-Chase freedom, same as Discover it but different categories
-Citi Costco card 4% off gas, 3% off restaurant and travel, 2% off at costco since Citi cashback doesn't work at costco
-Amazon 5% back on Amazon and Whole Foods
-Capital One Savor One 3% off dining and entertainment

Could also add on:
-American express Bluecash everyday 3% off supermarkets
-Chase Ink business cash 5% off office supplies and utilities if you own a business
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The thing with the cards that have X percent off Y is you have to factor in the pain, organization and time required to remember what card can be used for what and when. I don't think it's worth it. Therefore I like to stick to cards that give you the percent back on anything so you don't gotta worry about what to use it on.
 
Pharm.C. said:
Just write it on the card with a sharpie. Don't you have a calendar on your smartphone? Categories are released once per year and I just put reminders in my phone.

I also can't mess around with credit card bonuses since my credit score is kind of majorly important at the moment and so can't constantly open and close accounts. Otherwise, I would. But bank account bonuses, fair game bra.
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My credit score dropped from 824 to 822. 2 points for $500. Please take an extra 50 points and give me muh money. It will just go back up again after 3 months lmao.
 
Here are the following credit cards I've churned over the past 7 years or so

Chase Ink
Chase Freedom
Chase Southwest
Chase Sapphire

Barclay Arrival Plus x2

Amex Delta Biz
Amex Delta Pers
Amex Gold
Amex SPG
Amex Plat Charles Schwabb
Amex Plat
Amex Hilton Ascend
Amex Hilton Aspire
Amex Hilton x2

Citi Aadvantage x2
Citi Advantage Biz x2
Citi Travelers
Citi Edge
Citi Dividend

Capital One Venture x2

Sallie Mae

IHG

BoA Premium Rewards
BoA Americard
BoA Cash Rewards

Wells Fargo Cash Wise
 
Pharmacy Kid said:
Here are the following credit cards I've churned over the past 7 years or so

Chase Ink
Chase Freedom
Chase Southwest
Chase Sapphire

Barclay Arrival Plus x2

Amex Delta Biz
Amex Delta Pers
Amex Gold
Amex SPG
Amex Plat Charles Schwabb
Amex Plat
Amex Hilton Ascend
Amex Hilton Aspire
Amex Hilton x2

Citi Aadvantage x2
Citi Advantage Biz x2
Citi Travelers
Citi Edge
Citi Dividend

Capital One Venture x2

Sallie Mae

IHG

BoA Premium Rewards
BoA Americard
BoA Cash Rewards

Wells Fargo Cash Wise
Click to expand...

How long did you wait until repeating the same card? I waited like 7 years for Capital One Venture but got denied the second time, think they're more strict now. Amex only offers one card bonus per lifetime now. I'm tempted to try Barclays Arrival again since they offer 70k points now, I only got 50k when I did it.
 
Pharm.C. said:
Incorrect. That's the break-even for that card ignoring the alternative. You're only gaining 0.5% by making the switch (2.5%-2.0%). The break-even for switching from a free 2% card to a 2.5% card with a $59 fee is $11,800 per year (59/0.005).

To check, 2.5% of $11,800 is $295 and 2.0% of $11,800 is $236. Notice that $295-$236 is $59.

That also doesn't take into consideration the time value of money. You have to pay the fee up front for the entire year, but the rewards are paid out monthly over the year. Assuming a 6% discount rate (how much you could make in the stock market otherwise--inflation adjusted) compounded monthly and using a financial calculator (this is kind of a complex calculation and I can't find an uneven cash flow present value calculator that doesn't round) your 0.5% turns into about 0.48%. If you do the math again with 0.48% the breakeven point is $12,292.

People make the same mistake with Costco memberships. They think that you need to spend $120/0.02=$6000 a year to justify the $120 executive membership, but you can access the store and all their discounts for a $60 membership without a rebate. The breakeven for upgrading from the gold star membership to the executive (and gaining access to the rebate) is therefore $60/0.02=$3,000/yr. Again assuming 6% required return and monthly compounding that 2% rebate is actually about a 1.94% rebate which means your real breakeven point for buying an executive membership is $60/0.0194=$3,092/yr.

Big corporations have legions of bean counters that do this all day trying to pinch every penny out of customers using their products. There average person doesn't know how to calculate this and even if they did it often wouldn't be worth the time to pinch these pennies. I just do these kinds of calculations because it keeps my financial skills sharp for one day when I own a business or make big-ticket purchases and it does end up mattering.
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That card gives 3% with no annual fee for the first year.
 
mentos said:
How long did you wait until repeating the same card? I waited like 7 years for Capital One Venture but got denied the second time, think they're more strict now. Amex only offers one card bonus per lifetime now. I'm tempted to try Barclays Arrival again since they offer 70k points now, I only got 50k when I did it.
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Capital One is notoriously inquiry sensitive. Barclay Arrival is 6/24 (max 6 new credit cards in past 24 months).
 
All CC issuers will be going to a 1 bonus per lifetime policy in the near future. Ridiculous having 15 credit cards just for insignificant sign up bonuses.
 
hwks09 said:
All CC issuers will be going to a 1 bonus per lifetime policy in the near future. Ridiculous having 15 credit cards just for insignificant sign up bonuses.
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average sign up bonus is $500. I have gotten several that were >$1000 in value. all tax free. maybe insignificant to you, not to most.
 
I used to do the special 5% quarterly categories on the Discover IT and Chase Freedom.

Lately I've been pretty apathetic and just putting most everything on the Citi Doublecash for simple convenience though.
 
hwks09 said:
All CC issuers will be going to a 1 bonus per lifetime policy in the near future. Ridiculous having 15 credit cards just for insignificant sign up bonuses.
Click to expand...

You have an easier way of getting free tax-free money or flights?
 
hwks09 said:
All CC issuers will be going to a 1 bonus per lifetime policy in the near future. Ridiculous having 15 credit cards just for insignificant sign up bonuses.
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Paying people $500 to gain some customers is far more profitable for them even if there are very few people staying. They have all the data on retention but they will keep providing us with bonuses hoping you either forget to cancel or use the card permanently carrying a balance.
 
mentos said:
How long did you wait until repeating the same card? I waited like 7 years for Capital One Venture but got denied the second time, think they're more strict now. Amex only offers one card bonus per lifetime now. I'm tempted to try Barclays Arrival again since they offer 70k points now, I only got 50k when I did it.
Click to expand...

How long I wait depends on the card issuer. Chase I'll obviously never get to repeat their cards as I'm consistently over 5/24. Capital One Venture used to be lenient and that is how I was able to churn twice. However, I got denied last year so they changed their rules awhile ago. Citi's American airlines cards has a two year wait from the time you OPEN OR CLOSE your card. Note that personal and business are separate cards.

BoA, Barclay, and Wells Fargo have no time limits between reapplying as far as I know. If you keep more than several cards open like me, make a spreadsheet of when you opened and closed each card, how much you need to spend for the bonus, if there is an annual fee, etc.

 
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This is my current setup
  • Chase Sapphire Reserve: restaurant and travel related purchases only
  • Chase Freedom: 5% category spending only
  • Chase Freedom Unlimited: everything else
  • Amex Hilton Honors: only for Hilton purchases after I've hit the CSR travel credit
  • Citi Double Cash: emergencies
 
For the card hunters - Are these credit card rewards / cashback bonus worth the time and inquiries on your history? (I'm not talking about score, I'm talking about multiple products in the report.)

What kind of credit /access limits are you seeing on these bargain cards?
 
ExpressMaiL said:
For the card hunters - Are these credit card rewards / cashback bonus worth the time and inquiries on your history? (I'm not talking about score, I'm talking about multiple products in the report.)

What kind of credit /access limits are you seeing on these bargain cards?
Click to expand...

Yes. I have 10-15 active cards all the time. Credit score 835. Credit limit anywhere from $6000-$25000 per card.
 
ExpressMaiL said:
For the card hunters - Are these credit card rewards / cashback bonus worth the time and inquiries on your history? (I'm not talking about score, I'm talking about multiple products in the report.)

What kind of credit /access limits are you seeing on these bargain cards?
Click to expand...
If someone looks into your credit history, they don't care if you close and open a bunch of accounts. They just want to see you pay your balance on time all the time, nothing past due.

Most pharmacists can get $15-30k limit everytime you open one. You can combine credit limit when you close one to make it bigger. Some of the cards I carry have 50k+ limit because I closed one and transfer the limit to the same issuer credit card.
 
I thought pharmacists would have higher limits like this
app.jpg

The stingiest issuer I've found is Discover. Chase is in the middle but Fidelity is the highest.
 
ExpressMaiL said:
For the card hunters - Are these credit card rewards / cashback bonus worth the time and inquiries on your history? (I'm not talking about score, I'm talking about multiple products in the report.)

What kind of credit /access limits are you seeing on these bargain cards?
Click to expand...

Inquiries mean nothing to me. Go ahead and drop my score 30-40 points. It will go back up in a few months and I'm not in the market for a loan any time soon.

I have $85k limit with my 4 Chase cards. Citi gave me $15k for 2 cards lol
 
I've never paid attention to my credit limit as the most I'll ever charge is a few thousand. My overall utilization is always very low.
 
Amex Gold is my go-to card for virtually all of my purchases. Citi Double Cash is there just in case Amex is not accepted, which almost never happens in my case.
 
BenJammin said:
This is my current setup
  • Chase Sapphire Reserve: restaurant and travel related purchases only
  • Chase Freedom: 5% category spending only
  • Chase Freedom Unlimited: everything else
  • Amex Hilton Honors: only for Hilton purchases after I've hit the CSR travel credit
  • Citi Double Cash: emergencies
Click to expand...

CSR for restaurants/travel
Chase Freedom for 5% category
Discover It for 5% category
Chase Freedom Unlimited for other purchases
Amazon cc for 5% back
Sams club for 5% gas

Will do Chase business card churning in the future I suppose.

@ExpressMaiL Most definitely worth it. Was able to do a $1500-2000 vacation for the spouse and I on Chase reward points alone. Credit limit typically 10-25k and can ask them to raise it after a little bit of time if you really want to.
 
Be careful with chase business cards. Some of them do not offer 1st year fees waived, as I recently found out with one of my businesses. Also, the time limit regarding previous promos and redemption qualifications are inconsistently answered by chase representatives. I refer my other business partners into a card to receive credit on both ends (ie. I'm a partner of the referred and referring business). They still allow product swaps though.
 
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 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
 
Looking for a good 0% apr and NO FEE balance transfer credit card,, as I am trying to payoff some money towards student loans
 
pezdispenser said:
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 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
Click to expand...
Wells Fargo lol. Enjoy have 30 accounts opened up in your name.
 
pezdispenser said:
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 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
Click to expand...
Thanks. Every little bit helps. Gonna do this, need to turn off contribution to Vanguard for 3 months. $3k is close to 1 paycheck. Luckily, I already maxed out my 401k so I get a bigger paycheck.
 
Momus said:
Pez post triggered me to do one more search. I found $250 bonus for CA. Will be doing this as well... $650 total free for another day off! 😎 feeling productive

Bank of the West $250 checking account bonus.
Click to expand...
There's an updated list here:

https://www.doctorofcredit.com/best-bank-account-bonuses/

Great website, has lots of info for best credit card bonuses, best savings accounts, best bank account bonuses, etc, among other deals. The lists are updated on a monthly basis.
 
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