5% cash back credit cards

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5% cash back credit cards

Postby fffresh » Thu Oct 02, 2008 3:13 pm

There were a number of issuers for 5% cashback credit cards five or so years ago but the major issuers discontinued. In fact at their peak I had received an offer from Citi regarding my Dividend Platinum Select card; for $10 per month they would double my 5% cash back categories of gas, groceries, and drugstores to be 10%.

Shortly thereafter they ended their 5% card all together and as others have mentioned on this forum Chase discontinued theirs a few months later.

Certainly their must be more credit cards with 5% cashback than the two which I know of: Discover Open Road, American Express Blue Cash.

What other issuers, if any, have utilized 5% rewards on their cards?

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Postby Mogul of Pineapples » Fri Oct 03, 2008 2:45 pm

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.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred

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Postby Multi-Purpose » Tue Nov 25, 2008 12:50 pm

Credit cards with 5% cash back have become a rare find these days! Most of them have been scaled back to only 2% or 3% for gas, groceries, drugstores.
[font=Comic Sans MS]Change will not come if we wait for some other person or some other time. We are the ones we've been waiting for. We are the change that we seek.
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