What's Your Credit Card Rewards Strategy?

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Nyc10036
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Re: What's Your Credit Card Rewards Strategy?

Post by Nyc10036 »

Axelrod wrote: Sat Mar 19, 2022 7:35 am
Nyc10036 wrote: Fri Mar 18, 2022 9:03 pm
Axelrod wrote: Fri Mar 18, 2022 10:38 am I went forward with the US Bank Cash Plus card so now my card rotation gets me:

6% groceries
6% streaming services
5% Amazon
5% utilities
5% cell phone
4% Costco
3% gas
2% everything else

American Express Blue Cash Preferred
Amazon Prime Rewards Chase Visa
US Bank Cash Plus
Fidelity Rewards Signature Visa

The Costco rate factors in the executive membership which carries with it a $120 fee so it isn't a true 4% back.
The American Express Blue Cash Preferred also has an annual fee except the first year, so it also isn't a true 6%.
Or do you have a different arrangement?
Yes, that is true. During sign ups this year they waved the first year's fee. You also get a $300 sign up bonus for spend in the first few months so, depending on one's mental math, it is kind of like having the fee waved for the first few years of card ownership. If anything, it kind of buys us time to determine whether we want to keep the card or migrate to something like the Citi Custom Cash (5%) just for groceries.

Ideally though, I am thinking more and more about moving our taxable account to Merrill and going with the Bank of America cash rewards cards for their 5.25%. I'm just waiting to see if it lasts as some are reporting that the 75% tier's days may be numbered.

The Citi Custom Cash 5% is good only up to $500 spend per statement period.
They also unexpectedly and silently blocked my mother's card when she went to Wegmans a supermarket and tried to make a $20 purchase.
Citi can be a royal PITA.

There was some changes to Merrill late last year but the 75% tier remained.
viewtopic.php?f=2&t=150033

.
Axelrod
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Re: What's Your Credit Card Rewards Strategy?

Post by Axelrod »

Nyc10036 wrote: Sat Mar 19, 2022 7:40 am
The Citi Custom Cash 5% is good only up to $500 spend per statement period.
They also unexpectedly and silently blocked my mother's card when she went to Wegmans a supermarket and tried to make a $20 purchase.
Citi can be a royal PITA.

There was some changes to Merrill late last year but the 75% tier remained.
viewtopic.php?f=2&t=150033

.
Yep, understood on the spending limits - I've been trending the monthly spend and we could make the $500/month work if we decided to go with the Citi Custom Cash card. But even with the annual fee on the Amex, it still might be the choice for us in the years to come (if we don't move to the BoA cards) because it is also nice to get 6% on streaming services, 3% on gas, and their customer service has been wonderful to work with so far.

I'm very glad to hear that the 75% tier didn't get removed as it would make a lot of folks unhappy. And being able to obtain multiple cash rewards cards really opens up a ton of possibilities (as does having the 5.25% category "online" purchases).
Nyc10036
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Re: What's Your Credit Card Rewards Strategy?

Post by Nyc10036 »

Axelrod wrote: Sat Mar 19, 2022 7:52 am
Nyc10036 wrote: Sat Mar 19, 2022 7:40 am
The Citi Custom Cash 5% is good only up to $500 spend per statement period.
They also unexpectedly and silently blocked my mother's card when she went to Wegmans a supermarket and tried to make a $20 purchase.
Citi can be a royal PITA.

There was some changes to Merrill late last year but the 75% tier remained.
viewtopic.php?f=2&t=150033

.
Yep, understood on the spending limits - I've been trending the monthly spend and we could make the $500/month work if we decided to go with the Citi Custom Cash card. But even with the annual fee on the Amex, it still might be the choice for us in the years to come (if we don't move to the BoA cards) because it is also nice to get 6% on streaming services, 3% on gas, and their customer service has been wonderful to work with so far.

I'm very glad to hear that the 75% tier didn't get removed as it would make a lot of folks unhappy. And being able to obtain multiple cash rewards cards really opens up a ton of possibilities (as does having the 5.25% category "online" purchases).
I wish I had $100K lying around in ETF to transfer to Merrill and get the Platinum Rewards. :(
Seems like an "easy" 5.25% for online purchases.

The reason I don't like Amex so much as that the cashback shows up on the next statement e.g. statement #2.
You can use that cashback for a statement credit on statement #3.
That's not how it works with Chase. That 5% cashback appears on statement #1.
spammagnet
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Re: What's Your Credit Card Rewards Strategy?

Post by spammagnet »

Axelrod wrote: Sat Mar 19, 2022 7:35 am... Ideally though, I am thinking more and more about moving our taxable account to Merrill and going with the Bank of America cash rewards cards for their 5.25%. I'm just waiting to see if it lasts as some are reporting that the 75% tier's days may be numbered.
Why wait? What's to lose? Even if they do change the 75% PH bonus you can get up to $1,000 in brokerage bonus and $500 in credit card bonus for your troubles. And it seems unlikely that they'll change the 75% bonus since they just changed other aspects of the program and didn't change that.

https://www.merrilledge.com/offers/pr1000 (ends 5/22/22)
https://www.bankofamerica.com/credit-ca ... edit-card/ (currently, $500 bonus)

Edit: the Doctor of Credit article you linked to was dated 11/2020. 18 months have passed and BofA still hasn't removed the 75% bonus. I think the recent changes to the highest tier are the result of their research.
Axelrod
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Re: What's Your Credit Card Rewards Strategy?

Post by Axelrod »

spammagnet wrote: Sat Mar 19, 2022 9:55 am Why wait? What's to lose? Even if they do change the 75% PH bonus you can get up to $1,000 in brokerage bonus and $500 in credit card bonus for your troubles. And it seems unlikely that they'll change the 75% bonus since they just changed other aspects of the program and didn't change that.

https://www.merrilledge.com/offers/pr1000 (ends 5/22/22)
https://www.bankofamerica.com/credit-ca ... edit-card/ (currently, $500 bonus)

Edit: the Doctor of Credit article you linked to was dated 11/2020. 18 months have passed and BofA still hasn't removed the 75% bonus. I think the recent changes to the highest tier are the result of their research.
I may actually begin the groundwork by opening the checking account but I think I might have to wait on the BofA cards for now as I have had four recent hard pulls (new cards) this calendar year.
spammagnet
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Re: What's Your Credit Card Rewards Strategy?

Post by spammagnet »

Axelrod wrote: Sat Mar 19, 2022 12:26 pm... I may actually begin the groundwork by opening the checking account but I think I might have to wait on the BofA cards for now as I have had four recent hard pulls (new cards) this calendar year.
Be aware that BA has a 2/3/4 rule, details of which are available elsewhere. It considers only their own cards, though. In the meantime you can move assets to Merrill for that new account bonus. It may behoove you to do that while the bonus is still as high as it is. It may also accelerate your reaching PH status.
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anon_investor
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Re: What's Your Credit Card Rewards Strategy?

Post by anon_investor »

Nyc10036 wrote: Sat Mar 19, 2022 9:26 am
Axelrod wrote: Sat Mar 19, 2022 7:52 am
Nyc10036 wrote: Sat Mar 19, 2022 7:40 am
The Citi Custom Cash 5% is good only up to $500 spend per statement period.
They also unexpectedly and silently blocked my mother's card when she went to Wegmans a supermarket and tried to make a $20 purchase.
Citi can be a royal PITA.

There was some changes to Merrill late last year but the 75% tier remained.
viewtopic.php?f=2&t=150033

.
Yep, understood on the spending limits - I've been trending the monthly spend and we could make the $500/month work if we decided to go with the Citi Custom Cash card. But even with the annual fee on the Amex, it still might be the choice for us in the years to come (if we don't move to the BoA cards) because it is also nice to get 6% on streaming services, 3% on gas, and their customer service has been wonderful to work with so far.

I'm very glad to hear that the 75% tier didn't get removed as it would make a lot of folks unhappy. And being able to obtain multiple cash rewards cards really opens up a ton of possibilities (as does having the 5.25% category "online" purchases).
I wish I had $100K lying around in ETF to transfer to Merrill and get the Platinum Rewards. :(
Seems like an "easy" 5.25% for online purchases.

The reason I don't like Amex so much as that the cashback shows up on the next statement e.g. statement #2.
You can use that cashback for a statement credit on statement #3.
That's not how it works with Chase. That 5% cashback appears on statement #1.
If you have $50k you can get Platinum tier Bank of America Preferred Rewards status for 4.5% cash back on online purchases with the Customized Cash Rewards Visa. $20k you can get Gold tier for 3.75% cash back on online purchases. Or just 3% with no status.

The money doesn't have to be solely from a taxable brokerage, it can be from an IRA too or a combo.
Wannaretireearly
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Re: What's Your Credit Card Rewards Strategy?

Post by Wannaretireearly »

anon_investor wrote: Sat Mar 19, 2022 3:51 pm
Nyc10036 wrote: Sat Mar 19, 2022 9:26 am
Axelrod wrote: Sat Mar 19, 2022 7:52 am
Nyc10036 wrote: Sat Mar 19, 2022 7:40 am
The Citi Custom Cash 5% is good only up to $500 spend per statement period.
They also unexpectedly and silently blocked my mother's card when she went to Wegmans a supermarket and tried to make a $20 purchase.
Citi can be a royal PITA.

There was some changes to Merrill late last year but the 75% tier remained.
viewtopic.php?f=2&t=150033

.
Yep, understood on the spending limits - I've been trending the monthly spend and we could make the $500/month work if we decided to go with the Citi Custom Cash card. But even with the annual fee on the Amex, it still might be the choice for us in the years to come (if we don't move to the BoA cards) because it is also nice to get 6% on streaming services, 3% on gas, and their customer service has been wonderful to work with so far.

I'm very glad to hear that the 75% tier didn't get removed as it would make a lot of folks unhappy. And being able to obtain multiple cash rewards cards really opens up a ton of possibilities (as does having the 5.25% category "online" purchases).
I wish I had $100K lying around in ETF to transfer to Merrill and get the Platinum Rewards. :(
Seems like an "easy" 5.25% for online purchases.

The reason I don't like Amex so much as that the cashback shows up on the next statement e.g. statement #2.
You can use that cashback for a statement credit on statement #3.
That's not how it works with Chase. That 5% cashback appears on statement #1.
If you have $50k you can get Platinum tier Bank of America Preferred Rewards status for 4.5% cash back on online purchases with the Customized Cash Rewards Visa. $20k you can get Gold tier for 3.75% cash back on online purchases. Or just 3% with no status.

The money doesn't have to be solely from a taxable brokerage, it can be from an IRA too or a combo.
Thanks for this info. I just qualified for gold tier.
Can I pay my taxes online and get the 3.75% bonus ??
“At some point you are trading time you will never get back for money you will never spend.“ | “How do you want to spend the best remaining year of your life?“
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anon_investor
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Re: What's Your Credit Card Rewards Strategy?

Post by anon_investor »

Wannaretireearly wrote: Sat Mar 19, 2022 4:58 pm
anon_investor wrote: Sat Mar 19, 2022 3:51 pm
Nyc10036 wrote: Sat Mar 19, 2022 9:26 am
Axelrod wrote: Sat Mar 19, 2022 7:52 am
Nyc10036 wrote: Sat Mar 19, 2022 7:40 am
The Citi Custom Cash 5% is good only up to $500 spend per statement period.
They also unexpectedly and silently blocked my mother's card when she went to Wegmans a supermarket and tried to make a $20 purchase.
Citi can be a royal PITA.

There was some changes to Merrill late last year but the 75% tier remained.
viewtopic.php?f=2&t=150033

.
Yep, understood on the spending limits - I've been trending the monthly spend and we could make the $500/month work if we decided to go with the Citi Custom Cash card. But even with the annual fee on the Amex, it still might be the choice for us in the years to come (if we don't move to the BoA cards) because it is also nice to get 6% on streaming services, 3% on gas, and their customer service has been wonderful to work with so far.

I'm very glad to hear that the 75% tier didn't get removed as it would make a lot of folks unhappy. And being able to obtain multiple cash rewards cards really opens up a ton of possibilities (as does having the 5.25% category "online" purchases).
I wish I had $100K lying around in ETF to transfer to Merrill and get the Platinum Rewards. :(
Seems like an "easy" 5.25% for online purchases.

The reason I don't like Amex so much as that the cashback shows up on the next statement e.g. statement #2.
You can use that cashback for a statement credit on statement #3.
That's not how it works with Chase. That 5% cashback appears on statement #1.
If you have $50k you can get Platinum tier Bank of America Preferred Rewards status for 4.5% cash back on online purchases with the Customized Cash Rewards Visa. $20k you can get Gold tier for 3.75% cash back on online purchases. Or just 3% with no status.

The money doesn't have to be solely from a taxable brokerage, it can be from an IRA too or a combo.
Thanks for this info. I just qualified for gold tier.
Can I pay my taxes online and get the 3.75% bonus ??
I don't think taxes qualify as "online shopping" for the BoA Customized Cash Rewards Visa.
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Lacrocious
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Re: What's Your Credit Card Rewards Strategy?

Post by Lacrocious »

I’m pretty sure taxes are explicitly excluded as are things like medical bills, etc. The category is “Online Shopping”, not online anything, unfortunately.
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spammagnet
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Re: What's Your Credit Card Rewards Strategy?

Post by spammagnet »

Nyc10036 wrote: Sat Mar 19, 2022 9:26 amI wish I had $100K lying around in ETF to transfer to Merrill and get the Platinum Rewards. :(
It's a number that gets thrown around easily here as though it's normal to have $100K in loose change. Realistically, though, a number of us are retired, or well on our way to it. It's not that hard to imagine that someone who has been following Boglehead principles may have accumulated that at a later stage in life. It doesn't necessarily mean that we have more money (yes, many do) but that it's portable. If yours is largely held in employer retirement plans, it's not portable.
Last edited by spammagnet on Sun Mar 20, 2022 10:23 pm, edited 1 time in total.
spammagnet
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Re: What's Your Credit Card Rewards Strategy?

Post by spammagnet »

anon_investor wrote: Sat Mar 19, 2022 5:01 pm
Wannaretireearly wrote: Sat Mar 19, 2022 4:58 pmThanks for this info. I just qualified for gold tier.
Can I pay my taxes online and get the 3.75% bonus ??
I don't think taxes qualify as "online shopping" for the BoA Customized Cash Rewards Visa.
Not directly, but Visa gift cards purchased at CVS using a CCR card set to drug stores will get you 3.75%. Those can be used to pay taxes online, with processing fees charged as debit cards. The fees to buy the cards and to pay the taxes add up but it may be a favorable approach, overall.
Wannaretireearly
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Re: What's Your Credit Card Rewards Strategy?

Post by Wannaretireearly »

spammagnet wrote: Sat Mar 19, 2022 9:19 pm
anon_investor wrote: Sat Mar 19, 2022 5:01 pm
Wannaretireearly wrote: Sat Mar 19, 2022 4:58 pmThanks for this info. I just qualified for gold tier.
Can I pay my taxes online and get the 3.75% bonus ??
I don't think taxes qualify as "online shopping" for the BoA Customized Cash Rewards Visa.
Not directly, but Visa gift cards purchased at CVS using a CCR card set to drug stores will get you 3.75%. Those can be used to pay taxes online, with processing fees charged as debit cards. The fees to buy the cards and to pay the taxes add up but it may be a favorable approach, overall.
Thank you. So many different options!
“At some point you are trading time you will never get back for money you will never spend.“ | “How do you want to spend the best remaining year of your life?“
Da5id
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Re: What's Your Credit Card Rewards Strategy?

Post by Da5id »

Nyc10036 wrote: Sat Mar 19, 2022 9:26 am The reason I don't like Amex so much as that the cashback shows up on the next statement e.g. statement #2.
You can use that cashback for a statement credit on statement #3.
That's not how it works with Chase. That 5% cashback appears on statement #1.
I don't use Amex much. I have a free one for 3% on groceries, for which I sometimes have better and certainly could improve on. But does waiting 2 billing cycles for a cashback really make a material difference to you? I mostly accumulate Chase UR points to use for partners (United and Hyatt in the past for example) rather than cash back anyway so I'm not using the immediately regardless.
Nyc10036
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Re: What's Your Credit Card Rewards Strategy?

Post by Nyc10036 »

Da5id wrote: Sun Mar 20, 2022 7:36 am
Nyc10036 wrote: Sat Mar 19, 2022 9:26 am The reason I don't like Amex so much as that the cashback shows up on the next statement e.g. statement #2.
You can use that cashback for a statement credit on statement #3.
That's not how it works with Chase. That 5% cashback appears on statement #1.
I don't use Amex much. I have a free one for 3% on groceries, for which I sometimes have better and certainly could improve on. But does waiting 2 billing cycles for a cashback really make a material difference to you? I mostly accumulate Chase UR points to use for partners (United and Hyatt in the past for example) rather than cash back anyway so I'm not using the immediately regardless.
No, but why wait when I can use it immediately if I want to with Chase?
Axelrod
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Re: What's Your Credit Card Rewards Strategy?

Post by Axelrod »

spammagnet wrote: Sat Mar 19, 2022 1:27 pm Be aware that BA has a 2/3/4 rule, details of which are available elsewhere. It considers only their own cards, though. In the meantime you can move assets to Merrill for that new account bonus. It may behoove you to do that while the bonus is still as high as it is. It may also accelerate your reaching PH status.
Noted, and thank you for the really great feedback in your last few replies. I think I'm going to trend my cumulative cash back percentages in the meantime to see where I fall for the next few months as I determine if the transfer to Merrill would be worth it for us.
spammagnet
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Re: What's Your Credit Card Rewards Strategy?

Post by spammagnet »

Axelrod wrote: Sun Mar 20, 2022 8:49 pmI think I'm going to trend my cumulative cash back percentages in the meantime to see where I fall for the next few months as I determine if the transfer to Merrill would be worth it for us.
A transfer to Merrill is worth it for the bonus alone. Adopting BA as your primary credit cards reward strategy is a separate question.
exarkun
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Re: What's Your Credit Card Rewards Strategy?

Post by exarkun »

Just got an email notice that PayPal key will be discontinued on April 20 😭
greenway23
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Re: What's Your Credit Card Rewards Strategy?

Post by greenway23 »

exarkun wrote: Mon Mar 21, 2022 5:23 pm Just got an email notice that PayPal key will be discontinued on April 20 😭
Ditto. We have a conversation about this going on in the PayPal bill pay thread.
international001
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Re: What's Your Credit Card Rewards Strategy?

Post by international001 »

spammagnet wrote: Sat Mar 19, 2022 9:19 pm CVS using a CCR card set to drug stores will get you 3.75%. Those can be used to pay taxes online, with processing fees charged as debit cards. The fees to buy the cards and to pay the taxes add up but it may be a favorable approach, overall.
Hmm..

$500-$5.95 + 5.25% -> 4,26%

Amex blue card gives you 6% rewards on groceries, so you can buy those cards at your grocery store. IT comes with a $95, so it's worth (Vs CCR) if you sped every year more than $95/(6%-5.25%) ~12.5k
garomee
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Re: What's Your Credit Card Rewards Strategy?

Post by garomee »

international001 wrote: Wed Apr 13, 2022 7:59 pm
spammagnet wrote: Sat Mar 19, 2022 9:19 pm CVS using a CCR card set to drug stores will get you 3.75%. Those can be used to pay taxes online, with processing fees charged as debit cards. The fees to buy the cards and to pay the taxes add up but it may be a favorable approach, overall.
Hmm..

$500-$5.95 + 5.25% -> 4,26%

Amex blue card gives you 6% rewards on groceries, so you can buy those cards at your grocery store. IT comes with a $95, so it's worth (Vs CCR) if you sped every year more than $95/(6%-5.25%) ~12.5k
The Amex Blue Cash Preferred card has $6,000/yr cap for the 6% groceries category. Depending on how much the tax bill is, if one is also using the card to purchase groceries, the cash back will not exactly be that.

Even for groceries, it is better deal to use the Citi Custom Cash card, if used purely for groceries - gives 5% back for up to $500/ mo, annualized to $6000/yr. Citi card has no annual fee.

The extra 1% cash back from Amex card represents $60 more back; however the annual fee is $95, so you end up losing $35.
sailaway
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Re: What's Your Credit Card Rewards Strategy?

Post by sailaway »

garomee wrote: Wed Apr 13, 2022 8:20 pm
international001 wrote: Wed Apr 13, 2022 7:59 pm
spammagnet wrote: Sat Mar 19, 2022 9:19 pm CVS using a CCR card set to drug stores will get you 3.75%. Those can be used to pay taxes online, with processing fees charged as debit cards. The fees to buy the cards and to pay the taxes add up but it may be a favorable approach, overall.
Hmm..

$500-$5.95 + 5.25% -> 4,26%

Amex blue card gives you 6% rewards on groceries, so you can buy those cards at your grocery store. IT comes with a $95, so it's worth (Vs CCR) if you sped every year more than $95/(6%-5.25%) ~12.5k
The Amex Blue Cash Preferred card has $6,000/yr cap for the 6% groceries category. Depending on how much the tax bill is, if one is also using the card to purchase groceries, the cash back will not exactly be that.

Even for groceries, it is better deal to use the Citi Custom Cash card, if used purely for groceries - gives 5% back for up to $500/ mo, annualized to $6000/yr. Citi card has no annual fee.

The extra 1% cash back from Amex card represents $60 more back; however the annual fee is $95, so you end up losing $35.
We came to this conclusion, as well. If we happen to spend more than $500 in one month, I switch to a BoA card for additional purchases.
Axelrod
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Re: What's Your Credit Card Rewards Strategy?

Post by Axelrod »

garomee wrote: Wed Apr 13, 2022 8:20 pm The Amex Blue Cash Preferred card has $6,000/yr cap for the 6% groceries category. Depending on how much the tax bill is, if one is also using the card to purchase groceries, the cash back will not exactly be that.

Even for groceries, it is better deal to use the Citi Custom Cash card, if used purely for groceries - gives 5% back for up to $500/ mo, annualized to $6000/yr. Citi card has no annual fee.

The extra 1% cash back from Amex card represents $60 more back; however the annual fee is $95, so you end up losing $35.
Yeah, I think the math works out to be around 4.4 - 4.5% effective cash back rates when you include the annual fee on the Amex. The reason we are still using ours is that the first year fee is waved plus you get $350 cash back for spend over the first couple months. It also has 6% back on streaming services which is a nice bonus.

We're still quite new at this but we've been able to push our credit card reward rates steadily higher since we began and added some new cards. Our first full month was 3.5% and so far this month we are at 4.15%.
international001
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Re: What's Your Credit Card Rewards Strategy?

Post by international001 »

Axelrod wrote: Wed Apr 13, 2022 8:50 pm
garomee wrote: Wed Apr 13, 2022 8:20 pm The Amex Blue Cash Preferred card has $6,000/yr cap for the 6% groceries category. Depending on how much the tax bill is, if one is also using the card to purchase groceries, the cash back will not exactly be that.

Even for groceries, it is better deal to use the Citi Custom Cash card, if used purely for groceries - gives 5% back for up to $500/ mo, annualized to $6000/yr. Citi card has no annual fee.

The extra 1% cash back from Amex card represents $60 more back; however the annual fee is $95, so you end up losing $35.
Yeah, I think the math works out to be around 4.4 - 4.5% effective cash back rates when you include the annual fee on the Amex. The reason we are still using ours is that the first year fee is waved plus you get $350 cash back for spend over the first couple months. It also has 6% back on streaming services which is a nice bonus.

We're still quite new at this but we've been able to push our credit card reward rates steadily higher since we began and added some new cards. Our first full month was 3.5% and so far this month we are at 4.15%.
Ok.. but my major point was that CCR will give you back 4.26% when you buy gift cards at CVS

I didn't know about the limit of Amex Blue Cash Preferred . Still, it would be a better deal if you don't use gift cards because the fee is worth at $6000 of groceries vs BoA CCR (grocery option).

BoA CCR doesn't have a grocery category, so I guess Citi Custom Cash card is worth

But if you plan to use gift cards BoA CCR is better because it has a $2500 billing cycle limit
spammagnet
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Re: What's Your Credit Card Rewards Strategy?

Post by spammagnet »

international001 wrote: Thu Apr 14, 2022 6:49 am... BoA CCR doesn't have a grocery category, so I guess Citi Custom Cash card is worth ...
CCR/SGK is 2% by default at grocery stores and warehouse clubs. It doesn't require selecting a category but you can't get 3%.

If you use various vendors' apps as the payment method in their stores it will record as online. That has been covered above as a way to get 3%. Sam's, Publix and Walmart all work that way. I believe others do but those are the only ones I have personal experience with.

That approach gets 3% on groceries, warehouse stores, and even Walmart. It's also more efficient to set your cards to online and use up the entire $2,500 quarterly limit, rather than split them between online and something else, and not make full use of the category limits.
Last edited by spammagnet on Thu Apr 14, 2022 1:33 pm, edited 1 time in total.
egri
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Re: What's Your Credit Card Rewards Strategy?

Post by egri »

My setup is the AmEx Platinum, Gold, and Schwab Investor, with a Visa debit card as a backup for places that don't take AmEx. My goal is to maximize points and cashback that I invest through Schwab. As long as I stay on active duty, AmEx waives the annual fees.
DiMAn0684
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Re: What's Your Credit Card Rewards Strategy?

Post by DiMAn0684 »

I used to be pretty heavy into MS, but slowed down a lot after COVID started. Nowadays I just hit SUBs. In 2-player mode there's enough cards for us to consistently get ~20% return on spend.
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anon_investor
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Re: What's Your Credit Card Rewards Strategy?

Post by anon_investor »

spammagnet wrote: Thu Apr 14, 2022 10:42 am
international001 wrote: Thu Apr 14, 2022 6:49 am... BoA CCR doesn't have a grocery category, so I guess Citi Custom Cash card is worth ...
CCR/SGK is 2% by default at grocery stores and warehouse clubs. It doesn't require selecting a category but you can't get 3%.

If you use various vendors' apps as the payment method in their stores it will record as online. That has been covered above as a way to get 3%. Sam's, Publix and Walmart all work that way. I believe others do but those are the only ones I have personal experience with.

That approach gets 3% on groceries, warehouse stores, and even Walmart. It's also more efficient to set your cards to online and use up the entire $2,500 quarterly limit, rather than split them between online and something else, and not make full use of the category limits.
If you have Platinum Honors tier Bank of America Preferred Rewards status, then your Bank of America Customized Cash Rewards card cash back gets boosted 75%. So you can get 5.25% cash back for your selected catagory and/or 3.5% cash back for whole sale clubs and groceries, up to $2.5k/quarter in total spend. Not bad for a no annual fee credit card. We have Platinum Honors and two of the Customized Cash Rewards cards, so up $5k/quarter in total spend gets 3.5%/5.25% cash back.
spammagnet
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Re: What's Your Credit Card Rewards Strategy?

Post by spammagnet »

anon_investor wrote: Thu Apr 14, 2022 1:39 pm
spammagnet wrote: Thu Apr 14, 2022 10:42 am
international001 wrote: Thu Apr 14, 2022 6:49 am... BoA CCR doesn't have a grocery category, so I guess Citi Custom Cash card is worth ...
CCR/SGK is 2% by default at grocery stores and warehouse clubs. It doesn't require selecting a category but you can't get 3%.

If you use various vendors' apps as the payment method in their stores it will record as online. That has been covered above as a way to get 3%. Sam's, Publix and Walmart all work that way. I believe others do but those are the only ones I have personal experience with.

That approach gets 3% on groceries, warehouse stores, and even Walmart. It's also more efficient to set your cards to online and use up the entire $2,500 quarterly limit, rather than split them between online and something else, and not make full use of the category limits.
If you have Platinum Honors tier Bank of America Preferred Rewards status, then your Bank of America Customized Cash Rewards card cash back gets boosted 75%. So you can get 5.25% cash back for your selected catagory and/or 3.5% cash back for whole sale clubs and groceries, up to $2.5k/quarter in total spend. Not bad for a no annual fee credit card. We have Platinum Honors and two of the Customized Cash Rewards cards, so up $5k/quarter in total spend gets 3.5%/5.25% cash back.
By describing it as 3%, I was avoiding the opposite reply from others who would correct me that it's 3%, not 5.25%. The 75% PH boost is separate from the category bonus. :)

Besides, although it doesn't seem that way here on Bogleheads, not everyone has $100K they can move to BofA.
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anon_investor
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Re: What's Your Credit Card Rewards Strategy?

Post by anon_investor »

spammagnet wrote: Thu Apr 14, 2022 1:47 pm
anon_investor wrote: Thu Apr 14, 2022 1:39 pm
spammagnet wrote: Thu Apr 14, 2022 10:42 am
international001 wrote: Thu Apr 14, 2022 6:49 am... BoA CCR doesn't have a grocery category, so I guess Citi Custom Cash card is worth ...
CCR/SGK is 2% by default at grocery stores and warehouse clubs. It doesn't require selecting a category but you can't get 3%.

If you use various vendors' apps as the payment method in their stores it will record as online. That has been covered above as a way to get 3%. Sam's, Publix and Walmart all work that way. I believe others do but those are the only ones I have personal experience with.

That approach gets 3% on groceries, warehouse stores, and even Walmart. It's also more efficient to set your cards to online and use up the entire $2,500 quarterly limit, rather than split them between online and something else, and not make full use of the category limits.
If you have Platinum Honors tier Bank of America Preferred Rewards status, then your Bank of America Customized Cash Rewards card cash back gets boosted 75%. So you can get 5.25% cash back for your selected catagory and/or 3.5% cash back for whole sale clubs and groceries, up to $2.5k/quarter in total spend. Not bad for a no annual fee credit card. We have Platinum Honors and two of the Customized Cash Rewards cards, so up $5k/quarter in total spend gets 3.5%/5.25% cash back.
By describing it as 3%, I was avoiding the opposite reply from others who would correct me that it's 3%, not 5.25%. The 75% PH boost is separate from the category bonus. :)

Besides, although it doesn't seem that way here on Bogleheads, not everyone has $100K they can move to BofA.
BHs are an interesting bunch! At a certain point EVERY BH should have $100k that can move to BofA, whether it is in taxable or an IRA. :P
international001
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Re: What's Your Credit Card Rewards Strategy?

Post by international001 »

spammagnet wrote: Thu Apr 14, 2022 10:42 am
international001 wrote: Thu Apr 14, 2022 6:49 am... BoA CCR doesn't have a grocery category, so I guess Citi Custom Cash card is worth ...
CCR/SGK is 2% by default at grocery stores and warehouse clubs. It doesn't require selecting a category but you can't get 3%.

If you use various vendors' apps as the payment method in their stores it will record as online. That has been covered above as a way to get 3%. Sam's, Publix and Walmart all work that way. I believe others do but those are the only ones I have personal experience with.

That approach gets 3% on groceries, warehouse stores, and even Walmart. It's also more efficient to set your cards to online and use up the entire $2,500 quarterly limit, rather than split them between online and something else, and not make full use of the category limits.
IF you son'r use an app to buy online, why not use Citi Custom Cash just for groceries?
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Re: What's Your Credit Card Rewards Strategy?

Post by spammagnet »

international001 wrote: Fri Apr 15, 2022 5:36 am
spammagnet wrote: Thu Apr 14, 2022 10:42 am
international001 wrote: Thu Apr 14, 2022 6:49 am... BoA CCR doesn't have a grocery category, so I guess Citi Custom Cash card is worth ...
CCR/SGK is 2% by default at grocery stores and warehouse clubs. It doesn't require selecting a category but you can't get 3%.

If you use various vendors' apps as the payment method in their stores it will record as online. That has been covered above as a way to get 3%. Sam's, Publix and Walmart all work that way. I believe others do but those are the only ones I have personal experience with.

That approach gets 3% on groceries, warehouse stores, and even Walmart. It's also more efficient to set your cards to online and use up the entire $2,500 quarterly limit, rather than split them between online and something else, and not make full use of the category limits.
IF you son'r use an app to buy online, why not use Citi Custom Cash just for groceries?
Because I'm going to use their app anyway, for convenience, and I manage/carry fewer accounts and cards.
exarkun
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Re: What's Your Credit Card Rewards Strategy?

Post by exarkun »

international001 wrote: Thu Apr 14, 2022 6:49 am
But if you plan to use gift cards BoA CCR is better because it has a $2500 billing cycle limit
One clarification, it is quarterly, not billing cycle.
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Re: What's Your Credit Card Rewards Strategy?

Post by djheini »

international001 wrote: Wed Apr 13, 2022 7:59 pm
spammagnet wrote: Sat Mar 19, 2022 9:19 pm CVS using a CCR card set to drug stores will get you 3.75%. Those can be used to pay taxes online, with processing fees charged as debit cards. The fees to buy the cards and to pay the taxes add up but it may be a favorable approach, overall.
Hmm..

$500-$5.95 + 5.25% -> 4,26%

Amex blue card gives you 6% rewards on groceries, so you can buy those cards at your grocery store. IT comes with a $95, so it's worth (Vs CCR) if you sped every year more than $95/(6%-5.25%) ~12.5k
Amex is notorious for clawing back rewards if they suspect gaming like large amounts of gift card purchases/manufactured spending. So you may get 6% or you may get 0% in the end.
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Re: What's Your Credit Card Rewards Strategy?

Post by Hannibal Barca »

Is anyone else concerned the Citi custom cash card’s monthly rewards spend limit ($500) is nearly too low for groceries and may not be increased with inflation? That’s the main reason I don’t have the card.
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Re: What's Your Credit Card Rewards Strategy?

Post by Ron Ronnerson »

Hannibal Barca wrote: Fri Apr 15, 2022 3:33 pm Is anyone else concerned the Citi custom cash card’s monthly rewards spend limit ($500) is nearly too low for groceries and may not be increased with inflation? That’s the main reason I don’t have the card.
It really can depend on how much you charge per month but I personally think $500 isn’t too bad. One way we’ve countered that limit further in my home is that my wife and I each got the Citi Custom Cash credit card. We each got a $300 bonus for opening the account, have basically raised our cap at grocery stores from $500/month to double that, and are also making use of the 15 months of no interest to pay during a time of relatively high inflation. Perhaps the best perk is the 0% rate and then paying off the balance in 15 months with dollars that are not worth as much.
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Re: What's Your Credit Card Rewards Strategy?

Post by Axelrod »

Random data point that others may, or may not, find interesting.

I recently started using my new US Bank Cash Plus card and it is really great in that it allows one to get 5% back on home utilities. You can also get a $200 bonus for spending $1000 on the card within the first four months. My main complaint, so far, is that the website is pretty poor compared to my other cards. For example, there is no itemized list of cash back rates per charge so it can be tough to confirm whether or not things are coding as expected.

And, sure enough, on my first statement I noticed that the cash rewards dollars were not at an even 5% but rather closer to 3.9%. After doing some backwards math, I discovered that one of the utility bills did not earn 5% and I had to call customer service to get them to open a ticket with their research team so I know whether to use this card on that specific bill moving forward (it coded as UTILITY so not sure what is going on and why it didn't trigger the 5% on their end).
enuff
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Re: What's Your Credit Card Rewards Strategy?

Post by enuff »

Hannibal Barca wrote: Fri Apr 15, 2022 3:33 pm Is anyone else concerned the Citi custom cash card’s monthly rewards spend limit ($500) is nearly too low for groceries and may not be increased with inflation? That’s the main reason I don’t have the card.
I don’t have that concern, but even still 5% on the first 500 is a good deal. If I ever exceed the 500, I’ll switch over to my AMEX Blue Cash (the no annual fee one) and get 3% on groceries from that point on for the rest of the month.
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Re: What's Your Credit Card Rewards Strategy?

Post by FedGuy »

Axelrod wrote: Mon Apr 18, 2022 1:33 pmAnd, sure enough, on my first statement I noticed that the cash rewards dollars were not at an even 5% but rather closer to 3.9%.
Axelrod, the fact that your number is close to 4% makes me think that you might be thrown by the confusing way US Bank displays its rewards.

US Bank breaks its rewards into two or three lines: "Cash Rewards" shows 1% of your total spend. A second line lists your 5% categories but displays 4% of your spending in the relevant categories (I assume that there's another line for your 2% category that displays 1% of your spending in that category, but I never use this card in a 2% category). You have to total the two (three?) lines to get the 5% cash back.
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Re: What's Your Credit Card Rewards Strategy?

Post by Axelrod »

FedGuy wrote: Mon Apr 18, 2022 6:28 pm Axelrod, the fact that your number is close to 4% makes me think that you might be thrown by the confusing way US Bank displays its rewards.

US Bank breaks its rewards into two or three lines: "Cash Rewards" shows 1% of your total spend. A second line lists your 5% categories but displays 4% of your spending in the relevant categories (I assume that there's another line for your 2% category that displays 1% of your spending in that category, but I never use this card in a 2% category). You have to total the two (three?) lines to get the 5% cash back.
Thank you for this, I was actually a bit curious why/how the rewards were broken down on the statement - this is very helpful. With that said, I probably didn't word my post very clearly. I looked at the total of both lines and it still came up shorter than expected. When I was on the phone with customer service (very helpful), they confirmed my suspicion that one of the utility charges got rewarded at 1% and are going to try and correct this.

Maybe I'm spoiled by how well Amex's website is regarding clarity of cash back purchases, but it is almost like US Bank goes out of its way to be obtuse with theirs.
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Re: What's Your Credit Card Rewards Strategy?

Post by MrJedi »

Hannibal Barca wrote: Fri Apr 15, 2022 3:33 pm Is anyone else concerned the Citi custom cash card’s monthly rewards spend limit ($500) is nearly too low for groceries and may not be increased with inflation? That’s the main reason I don’t have the card.
Yes, but that is resolved by holding multiple custom cash cards. It is a little hassle to swap them out though as they approach the limit. We usually swap once every month, but we have 4 of them in total if needed.
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Re: What's Your Credit Card Rewards Strategy?

Post by Freefun »

I'm not sure where to post this so figured this thread might work...

I just subscribed to Thrifty Traveler Premium - about $50 annually. In 1 hour I received notice that United opened business class (Polaris) inventory to New Zealand (Wellington) for 60K miles each way in peak season. So I just booked it. Easily worth the $50 I paid ! Most dates Dec - March seem to be available.

I've no affiliation with TTP but tend to try out alert services such as this.
Remember when you wanted what you currently have?
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anon_investor
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Re: What's Your Credit Card Rewards Strategy?

Post by anon_investor »

Axelrod wrote: Mon Apr 18, 2022 1:33 pm Random data point that others may, or may not, find interesting.

I recently started using my new US Bank Cash Plus card and it is really great in that it allows one to get 5% back on home utilities. You can also get a $200 bonus for spending $1000 on the card within the first four months. My main complaint, so far, is that the website is pretty poor compared to my other cards. For example, there is no itemized list of cash back rates per charge so it can be tough to confirm whether or not things are coding as expected.

And, sure enough, on my first statement I noticed that the cash rewards dollars were not at an even 5% but rather closer to 3.9%. After doing some backwards math, I discovered that one of the utility bills did not earn 5% and I had to call customer service to get them to open a ticket with their research team so I know whether to use this card on that specific bill moving forward (it coded as UTILITY so not sure what is going on and why it didn't trigger the 5% on their end).
What is the other 5% cash back catagory you use for that card? I have debated whether to try to get the US Bank Cash+ card to get the extra cash back on utilities. For utilities I currently get 2.62% cash back via BoA Premium Rewards or 5% cash back some quarters when Chase Freedom/Freedom Flex or Discover Card offer PayPal as a 5% cash back catagory.
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Re: What's Your Credit Card Rewards Strategy?

Post by Axelrod »

anon_investor wrote: Tue Apr 19, 2022 3:50 pm What is the other 5% cash back catagory you use for that card? I have debated whether to try to get the US Bank Cash+ card to get the extra cash back on utilities. For utilities I currently get 2.62% cash back via BoA Premium Rewards or 5% cash back some quarters when Chase Freedom/Freedom Flex or Discover Card offer PayPal as a 5% cash back catagory.
I selected "utilities" and "cell phone providers" for my 5% categories. Yeah, this was the only card I found that offered 5% on utilities which can be a fairly big monthly spend and worth it for that alone. I wasn't confident reading threads on the site that the BoA cards would code as "online" for things like utilities and figured this was more of a sure bet.

My only complaint about the card so far has simply been the less than excellent website which lacks a simple method to track which expenses are getting coded properly. I already caught one that didn't (my water bill) and had to open a ticket with their cardholder support team to see why that happened.
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Re: What's Your Credit Card Rewards Strategy?

Post by anon_investor »

Axelrod wrote: Tue Apr 19, 2022 3:57 pm
anon_investor wrote: Tue Apr 19, 2022 3:50 pm What is the other 5% cash back catagory you use for that card? I have debated whether to try to get the US Bank Cash+ card to get the extra cash back on utilities. For utilities I currently get 2.62% cash back via BoA Premium Rewards or 5% cash back some quarters when Chase Freedom/Freedom Flex or Discover Card offer PayPal as a 5% cash back catagory.
I selected "utilities" and "cell phone providers" for my 5% categories. Yeah, this was the only card I found that offered 5% on utilities which can be a fairly big monthly spend and worth it for that alone. I wasn't confident reading threads on the site that the BoA cards would code as "online" for things like utilities and figured this was more of a sure bet.

My only complaint about the card so far has simply been the less than excellent website which lacks a simple method to track which expenses are getting coded properly. I already caught one that didn't (my water bill) and had to open a ticket with their cardholder support team to see why that happened.
Yeah, I would be afraid to open the card to find out that none of my utility bills would be coded to get that 5% cash back. Half the year I am getting 5% cash back since I can use PayPal BillPay and get 5% cash back via Chase Freedom/Freedom Flex or Discover Card when they have those promo catagories. I know BoA CCR won't get 5.25% cash back as online for utilities, so unless there is a promo catagory I use my BoA PR. But cell phones is another big spend, so that card is tempting. Is US Bank stingy about approving those cards if you have a lot of other credit cards already?
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Re: What's Your Credit Card Rewards Strategy?

Post by Jags4186 »

enuff wrote: Mon Apr 18, 2022 1:51 pm
Hannibal Barca wrote: Fri Apr 15, 2022 3:33 pm Is anyone else concerned the Citi custom cash card’s monthly rewards spend limit ($500) is nearly too low for groceries and may not be increased with inflation? That’s the main reason I don’t have the card.
I don’t have that concern, but even still 5% on the first 500 is a good deal. If I ever exceed the 500, I’ll switch over to my AMEX Blue Cash (the no annual fee one) and get 3% on groceries from that point on for the rest of the month.
A strategy I employ is to buy my local grocery store's gift cards when promotions are in place. Typically I'll buy $1500 when it's Freedom 5x quarter, Discover 10x quarter, a $X for a Shop Your Way promo, and if there's nothing going on $500 on the Custom Cash. Currently I'm sitting on like $2000 of grocery store gift cards which is about 3 months worth for me. But I figure my cost on those gift cards is well below 90% of the face value.
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Re: What's Your Credit Card Rewards Strategy?

Post by Axelrod »

anon_investor wrote: Tue Apr 19, 2022 4:02 pm Yeah, I would be afraid to open the card to find out that none of my utility bills would be coded to get that 5% cash back. Half the year I am getting 5% cash back since I can use PayPal BillPay and get 5% cash back via Chase Freedom/Freedom Flex or Discover Card when they have those promo catagories. I know BoA CCR won't get 5.25% cash back as online for utilities, so unless there is a promo catagory I use my BoA PR. But cell phones is another big spend, so that card is tempting. Is US Bank stingy about approving those cards if you have a lot of other credit cards already?
I had four hard pulls (approvals) in the 3 months prior to applying for this card so it doesn't look like they are overly stingy. However I only got approved for a $500 card limit (which I heard is somewhat common for non US Bank members). I actually had to laugh when I saw that but since I pay my cards 2x per month anyway, it shouldn't be more than an annoyance until I can get the limit raised.

And even though I had the one utility code at 1%, all of my other utility and cell phone bills have properly coded at 5% so far.
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Re: What's Your Credit Card Rewards Strategy?

Post by anon_investor »

Axelrod wrote: Tue Apr 19, 2022 4:08 pm
anon_investor wrote: Tue Apr 19, 2022 4:02 pm Yeah, I would be afraid to open the card to find out that none of my utility bills would be coded to get that 5% cash back. Half the year I am getting 5% cash back since I can use PayPal BillPay and get 5% cash back via Chase Freedom/Freedom Flex or Discover Card when they have those promo catagories. I know BoA CCR won't get 5.25% cash back as online for utilities, so unless there is a promo catagory I use my BoA PR. But cell phones is another big spend, so that card is tempting. Is US Bank stingy about approving those cards if you have a lot of other credit cards already?
I had four hard pulls (approvals) in the 3 months prior to applying for this card so it doesn't look like they are overly stingy. However I only got approved for a $500 card limit (which I heard is somewhat common for non US Bank members). I actually had to laugh when I saw that but since I pay my cards 2x per month anyway, it shouldn't be more than an annoyance until I can get the limit raised.

And even though I had the one utility code at 1%, all of my other utility and cell phone bills have properly coded at 5% so far.
$500? Sounds like too much of a hassle. Defeats the purpose of autopay.
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Re: What's Your Credit Card Rewards Strategy?

Post by KlingKlang »

I just accepted an offer for a Huntington Cashback Mastercard from Huntington National Bank. The deal is 1.5% back on everything plus a 1.5% bonus for the first 12 months. My wife and I both received individual offer codes so I think it is for current customers only.
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Re: What's Your Credit Card Rewards Strategy?

Post by greenway23 »

anon_investor wrote: Tue Apr 19, 2022 4:02 pm
Axelrod wrote: Tue Apr 19, 2022 3:57 pm
anon_investor wrote: Tue Apr 19, 2022 3:50 pm What is the other 5% cash back catagory you use for that card? I have debated whether to try to get the US Bank Cash+ card to get the extra cash back on utilities. For utilities I currently get 2.62% cash back via BoA Premium Rewards or 5% cash back some quarters when Chase Freedom/Freedom Flex or Discover Card offer PayPal as a 5% cash back catagory.
I selected "utilities" and "cell phone providers" for my 5% categories. Yeah, this was the only card I found that offered 5% on utilities which can be a fairly big monthly spend and worth it for that alone. I wasn't confident reading threads on the site that the BoA cards would code as "online" for things like utilities and figured this was more of a sure bet.

My only complaint about the card so far has simply been the less than excellent website which lacks a simple method to track which expenses are getting coded properly. I already caught one that didn't (my water bill) and had to open a ticket with their cardholder support team to see why that happened.
Yeah, I would be afraid to open the card to find out that none of my utility bills would be coded to get that 5% cash back. Half the year I am getting 5% cash back since I can use PayPal BillPay and get 5% cash back via Chase Freedom/Freedom Flex or Discover Card when they have those promo catagories. I know BoA CCR won't get 5.25% cash back as online for utilities, so unless there is a promo catagory I use my BoA PR. But cell phones is another big spend, so that card is tempting. Is US Bank stingy about approving those cards if you have a lot of other credit cards already?
Which cel phone providers allow you to pay via credit card (without taking away some sort of discount for paying via bank)? I am a Verizon customer so I need to have auto pay from a bank set up to qualify for an additional $5 off my bill. I had been using PayPal key (virtual debit card number that you can set up to pay via a credit card) which I loved, but that is being discontinued. I really hate paying this bill via bank account. I was thinking about getting the US Bank card until PayPal discontinued the key.
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