Best Cash Back Credit Card May 2021

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Bogle64Pilot
Posts: 88
Joined: Fri Mar 08, 2019 12:36 pm

Best Cash Back Credit Card May 2021

Post by Bogle64Pilot »

Are we still between the Fidelity Signature Visa and the Citi Double Cash, or is there a better offer hidden out there somewhere in May 2021? I’m leaning Fidelity mostly due to the 1% foreign transaction fee vs 3%. I don’t play any sort of credit card games and only use a singular card to swipe for everything don’t have the time or effort to track all the nuances of maximizing credit card bonuses, rotating categories, etc.
sam1838
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Re: Best Cash Back Credit Card May 2021

Post by sam1838 »

https://www.alliantcreditunion.org/bank ... d#features

This gives 2.5%, which is worth it if you spend more than $19,800 on it a year. If you spend $30,000, you'd make $651 vs $600 on the Double Cash. Unless you're making quite a bit more money, I personally prefer non-annual fee cards even if I could make incrementally more with an annual fee.

I also always advocate carrying two cards from two different banks using two different payment networks. For me that's Citi Double Cash Mastercard and Chase Prime Visa. One card will fail you at some point so having two is a necessary redundancy. I also make 80% of my possible credit card rewards from two cards, with each additional card adding theoretically less and less, so it just overall makes sense to me.
Topic Author
Bogle64Pilot
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Re: Best Cash Back Credit Card May 2021

Post by Bogle64Pilot »

Thank you for the information. I currently have a travel card in the Chase Southwest Priority, so I do have a backup card. Instead of continuing to absolutely pile Southwest points I figured it would be good to get a little more utility out of my rewards. For me in Active Duty military so annual fees are generally waived so that’s no issue at the present moment. However, even still I do prefer a no annual fee card in the event my SCRA benefits end in the future.
Jags4186
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Re: Best Cash Back Credit Card May 2021

Post by Jags4186 »

US Bank Altitude Reserve earns 4.5% back on all travel and mobile wallet (Apple Pay, Samsung Pay, Google Pay) transactions and 1.5% on swiped/PIN transactions. It has a $400 annual fee but you get $325 in travel/dining reimbursements a year so the net cost is $75. If you have an iPhone/iPad many websites accept Apple Pay as a payment method carrying over to many online purchases. It also has a $750 signup bonus.

I’ve moved almost exclusively to contactless and I think this is the strongest single card in the market.

The one weakness is in dining since it doesn’t offer a category bonus past June 30 (4.5% until then) but you could supplement with the US Bank Altitude GO which is a fee free card that earns 4% dining.
Last edited by Jags4186 on Fri May 14, 2021 7:23 am, edited 2 times in total.
sycamore
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Re: Best Cash Back Credit Card May 2021

Post by sycamore »

In the big "What's Your Credit Card Rewards Strategy" thread, suggest start reading at this recent post where they discuss various options.

In short, if you're eligible for Platinum Honors at Bank of America, you can get 2.625% cashback with their Premium Rewards card ($95 annual fee but you also get $100 airline incidentals covered).

If not, 2% cashback is very good these days.
rhoptry
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Re: Best Cash Back Credit Card May 2021

Post by rhoptry »

I still have the USAA 2.5% back on everything, no annual fee, must have at least $1000 direct deposited per month into checking. Are there better ones that I should consider? Cash back only.
greenman1
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Re: Best Cash Back Credit Card May 2021

Post by greenman1 »

atdharris
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Re: Best Cash Back Credit Card May 2021

Post by atdharris »

The BofA combo is as good as you can get if you bank there and have $100k in assets/cash. I earn 5.25% on online purchases/3.5% on groceries/Costco/dining/travel, and 2.65% on everything else.
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rterickson
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Re: Best Cash Back Credit Card May 2021

Post by rterickson »

If you use Amazon Prime like we do, their Visa card pays 5% on all Amazon purchases.
Topic Author
Bogle64Pilot
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Re: Best Cash Back Credit Card May 2021

Post by Bogle64Pilot »

rhoptry wrote: Fri May 14, 2021 10:01 am I still have the USAA 2.5% back on everything, no annual fee, must have at least $1000 direct deposited per month into checking. Are there better ones that I should consider? Cash back only.
I’m not seeing that as a current offering…
trevorshhh
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Re: Best Cash Back Credit Card May 2021

Post by trevorshhh »

I use the AODFCU Signature Visa for 3% cash back and no annual fees or foreign transaction fees. It's pretty limited for membership. I'm not in Alabama but I'm eligible because of my employer (who has a presence in the credit union's home area). https://www.aodfcu.com/visa-signature-credit-card/

If you're interested in no annual fee and no foreign transaction fees and are not eligible for that one, you can look at the Paypal card which has 2% cashback. https://www.paypal.com/us/webapps/mpp/c ... mastercard
All in VTI, VXUS, BND and equivalents.
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LilyFleur
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Re: Best Cash Back Credit Card May 2021

Post by LilyFleur »

You don't mention if you are a Costco shopper. On the Costco VISA, there are no foreign transaction fees, and you get 3% back on travel and any restaurants and 4% back on gas. I use it for those things, and I use the double cash MC for everything else.
Topic Author
Bogle64Pilot
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Re: Best Cash Back Credit Card May 2021

Post by Bogle64Pilot »

LilyFleur wrote: Fri May 14, 2021 12:21 pm You don't mention if you are a Costco shopper. On the Costco VISA, there are no foreign transaction fees, and you get 3% back on travel and any restaurants and 4% back on gas. I use it for those things, and I use the double cash MC for everything else.
Thank you yes I’m a Costco shopper. I have 4x kids under 7 so travel and restaurants are not a big spending category for me. It’s mostly groceries and gas.
NOLA
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Re: Best Cash Back Credit Card May 2021

Post by NOLA »

If you are an executive member at Costco, I believe you get 4% total back while shopping there? 2% on their CC and 2% back on their executive membership as a coupon at the end of the year!
Marseille07
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Re: Best Cash Back Credit Card May 2021

Post by Marseille07 »

Probably not the best but I like CapitalOne cards for cashback & no foreign tx.
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