Best Credit Card for us to add?

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rage_phish
Posts: 214
Joined: Thu Jan 31, 2019 4:27 pm

Best Credit Card for us to add?

Post by rage_phish »

Currently we have the costco card which we use for Costco and Gas
the amazon card for amazon and whole foods

And i want to add a third card for all other purchases. I'm thinking the citi double points card?


looking for just simple cash back. dont really want to deal with a bunch of categories and what not (i feel our biggest categories for spend are already hit (amazon, whole foods, costco, gas)

we dont dine out often so dont get much benefit from that as a category, no travel currently

Thoughts?
matti
Posts: 215
Joined: Thu Mar 07, 2013 9:17 pm

Re: Best Credit Card for us to add?

Post by matti »

I think the Citi Double Cash card is good to have.
balbrec2
Posts: 412
Joined: Mon Nov 13, 2017 3:03 pm

Re: Best Credit Card for us to add?

Post by balbrec2 »

matti wrote: Thu Dec 10, 2020 12:55 pm I think the Citi Double Cash card is good to have.
+1
balbrec2
Posts: 412
Joined: Mon Nov 13, 2017 3:03 pm

Re: Best Credit Card for us to add?

Post by balbrec2 »

matti wrote: Thu Dec 10, 2020 12:55 pm I think the Citi Double Cash card is good to have.
+1 if all you are looking for is simple cash back
terran
Posts: 1934
Joined: Sat Jan 10, 2015 10:50 pm

Re: Best Credit Card for us to add?

Post by terran »

I think Fidelity also has a 2% cash back card which might be a good alternative if you have other accounts at Fidelity. We've been happily using the Capital One Quicksilive 1.5% cashback card and haven't been sufficiently motivated by the extra 0.5% to switch to a 2% card. It doesn't charge foreign transaction fees which is nice since we like to travel.
afan
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Joined: Sun Jul 25, 2010 4:01 pm

Re: Best Credit Card for us to add?

Post by afan »

If you are able and willing to deposit enough money in Bank of America / Merrill Lynch, the BofA premium rewards card pays high cash back on everything. No rotating categories.

As beat I can tell the Fidelity and Citi double cash cards are quite similar.
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tashnewbie
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Joined: Thu Apr 23, 2020 12:44 pm

Re: Best Credit Card for us to add?

Post by tashnewbie »

You can get flat 2% cash back cards from at least: Citi, Fidelity, Alliant Credit Union, and PayPal.

I think Citi is the only one that doesn't require that you have another type of account with them, such as a checking account or PayPal account.

Some people seem to favor other cards over Citi Double Cash because it doesn't have benefits like extended warranties and rental car liability protection. Alliant's 2% card doesn't either. I don't know about the others. It seems fewer no-fee credit cards have these benefits nowadays. I think it would only be an issue for me if I was buying an expensive electronic or appliance.
oldlongbeard
Posts: 93
Joined: Tue Oct 23, 2018 11:07 am

Re: Best Credit Card for us to add?

Post by oldlongbeard »

...another vote for the Fidelity 2% reward card. I have it deposited automagically in my Roth IRA, and it's my "play money" for "non-Bogle-approved" trading activities. I won't feel so bad if I lose it, LOL.
I like the fact that I get the 2% on EVERYTHING, and I spend not one SECOND thinking about it, or any categories, blah blah blah.

Greg in West Mitten
kjmac
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Joined: Tue Oct 27, 2020 7:11 am

Re: Best Credit Card for us to add?

Post by kjmac »

I like Citi Double Cash because it's so simple – 1% now, 1% when you pay. On everything.

The Paypal Card is another option, but it doesn't have anything in terms of insurance.

You also have the choice of the Chase Freedom Unlimited Card which is no fee and gets you up 5% cash back, with a base rate of 1.5%.
classicindexer
Posts: 121
Joined: Tue Apr 09, 2019 10:43 am

Re: Best Credit Card for us to add?

Post by classicindexer »

+1 for the Fidelity 2% Visa if you have a Fidelity account - monthly cash back auto redemption to a Fidelity account is great + it's tied to your Fidelity online account. We also have the Chase Amazon Prime Visa for Amazon & any international charges since it has no FTF. Fidelity's card is 1% FTF
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avenger
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Re: Best Credit Card for us to add?

Post by avenger »

We use the Alliant Credit Union 2.5% cash back on everything - this is our big lifter.
cheers ... -Mark | "Our life is frittered away with detail. Simplify. Simplify." -Henry David Thoreau | [VTI, VXUS, VWITX, SV fund]
tashnewbie
Posts: 1371
Joined: Thu Apr 23, 2020 12:44 pm

Re: Best Credit Card for us to add?

Post by tashnewbie »

avenger wrote: Thu Dec 17, 2020 10:44 am We use the Alliant Credit Union 2.5% cash back on everything - this is our big lifter.
The 2.5% card has a $95 annual fee (after the first year). That card with the fee isn't worth it to me over the Alliant 2% card. That extra 0.5% cash back isn't offset by the AF (total spend is the same regardless, for me).
doctorgonzo
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Joined: Sun Nov 29, 2020 8:26 pm

Re: Best Credit Card for us to add?

Post by doctorgonzo »

The Citi Double Cash is better than a cash back card that pays less than 2%, but sub-optimal compared to any other no-fee 2% card that offers additional benefits (e.g. insurance protection).

Also, most other no fee 2% cards in my experience do not play the game of splitting the reward up as citi does (1% earned when spent, 1% earned when paid) - this is not a huge drawback, but compared to a straightforward immediate 2% rewards card results in slower access to your rewards.

My local credit union, for example, offers a 2% no fee card with visa signature level benefits (e.g. extended warranty, rental car insurance, roadside protection, etc) and also with no foreign transaction fees. Rewards are available for redemption immediately when transactions post. Access to this rewards level does require having a certain number of other qualifying services with the credit union, but nothing I didn't already have. So in my case, though I have both cards, I strongly prefer the credit union 2% card to the Citi Double Cash.

The Double Cash may be more attractive for those who are interested in redeeming rewards for Citi "ThankYou" points rather than cash, which could be worth slightly more for certain travel redemptions (e.g. FrequentMiler values each Citi point at 1.45¢), but this is not of particular interest to me.
joaquin168q
Posts: 16
Joined: Sat Apr 25, 2020 11:24 am

Re: Best Credit Card for us to add?

Post by joaquin168q »

I recently got the SOFI card. It has 2% cash back, but similar to Fidelity, the cash back needs to go into a SOFI account. One distinction from the other 2% cards out there is SOFI card does not have foreign transaction fees. Citi double cash back and Fidelity both have foreign transaction fees.
nesdog
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Joined: Thu Dec 07, 2017 8:20 pm

Re: Best Credit Card for us to add?

Post by nesdog »

I just got a note from a friend about a Chase Freedom card with a sign up bonus. It's got categories of 1% for this and 5% for that. Not sure which is the best way to go so will be watching this thread closely!
Insert clever comment here...
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