As of right now I would have to say the Blue Cash is the best card for 5%. That Penfed credit card you mentioned use to give 5% on groceries too but I see they now chopped that down to only 2%.
There's no many 5% rebate credit cards left today. The only reason American Express and Discover can afford to continue them is most likely because since they also receive 100% of the transaction fees. I don't think that would work with issuers like Chase, Capital One, HSBC, etc. since those cards are all Visa and Mastercard - and they get most of the transaction fees, not the issuer of the card.
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“It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.”
-Warren Buffett
Current Cards:
American Express: Blue Cash, Simply Cash
Bank of America: Visa Financial Rewards Platinum Plus
Chase: Rewards Visa, Amazon Visa
Discover: More
Current Everyday Card: American Express Blue Cash
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