How should I use my collection of cash back cards?

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How should I use my collection of cash back cards?

Postby craigm1 » Sun Jun 03, 2012 9:46 am

Here is the question, I have been using an amex cash for the last 2 years 5% drug 5% gas 5% supermarket, recently they lowered it to 1% to all other purchases. I have been using a Bank of America Rewards card with 1 % cash back and .25% with autopay for places that don't take amex, now my Chase was upgraded to a freedom and my capital one to a rewards card.

Do i just use the chase for the 5% do I keep putting most of my charges on the amex even though the Capital one is 1.5%? is it worth the trouble would amex and chase not appreciate me just pounded there cards for 5% transactions. I know the capital one is a lower tier card, should I care about the prestige and use it as much as possible for the 1.5%? I usually charge between 40-50k a year on my cards.
Current Cards: American Express:Grandfathered Blue Cash CL 34k member since 89
Chase Freedom CL 7.5k member since 04
Chase Marriot Rewards Premier CL 20k member since 13
Chase Sapphire Preferred CL 25K member since 13
Bank Americard Cash Rewards Signature Visa CL 14k member since 11
Discover Cashback Bonus $10.5k member since 11
US Bank Cash + Signature Visa 19k member since 12
Citibank Thank You Preffered World Mastercard $16.5k member since 14

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Location: Texas

Postby jeffysdad » Sun Jun 03, 2012 10:20 am

If you're using strictly cashback (or points where each point equals 1 cent cashback), then you should not settle for anything less than 2% (2 points/dollar), which you can obtain with Fidelity Amex and I'm sure other cards.

The best you can hope for from a card with rotating categories (Discover, Chase Freedom) is 5%. Use these cards for the 5% only; why would you accept 1% in "other" categories when you can get 2% elsewhere?

Finally, when shopping online, use your cards' points malls to access the websites where you shop. For instance, I just spent $330 at after accessing the website from the WorldPoints mall charging to my Fidelity Amex. For that transaction I will earn the regular 2% cashback ($6.60) plus another 9% ($29.70).

If you do all of the above, your nominal cashback for an entire year could come out to 3-4% or more, depending upon how much you spend, on what and where.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.

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