Freedom/US Bank+ 5% rotating

All about maximizing your rewards!
Members share tips and tricks for getting the most miles, & points.
50 posts
cashback
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Posts: 793
Joined: Mon Oct 22, 2012 7:11 pm
Location: NY

Postby cashback » Fri Jan 11, 2013 7:53 pm

nishant wrote:Here is what I do for maximizing cash back
1) Gas- Chase Freedom- 5% cash back on gas for two quarters in a year
2) Gas- PedFed- For 5% cash back at pump for remaining two quarters of the year
3) Online shopping- Q4- Chase Freedom for Amazon.com and Discover it for any online shopping for $1500.
4) Walmart- Priceline visa- 2% cashback on everything- No annual fee
5) Sams Club- Capital one world mastercard- 1.5% cash back on everything- No annual fee
6) Movies and fast food- 5% cashback with Citi Forward
7) Major renovation like basement finishing or electronics purchase- Plan and select category for US bank cash plus
8) Groceries- 6% cashback with Amex Blue cash preferred
9) Gym- 5% cashback - Citi Dividend this Q1
10) Target- Redcard - 5% cash back plus free shipping



Buy $500 MC/Visa gift cards from grocery store with BCP. Then anything that isn't covered by a 5% category use the gift cards and you will get no less than 4.7% on every CC purchase. (Example: Wal Mart, Sam's Club, online shopping, etc.)

There is no need for a 2% card with this strategy.

And if the you can't buy gift cards with BCP because of the cap on rewards, use your Citi Dividend and buy gift cards at drug stores.
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781


nishant
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Posts: 120
Joined: Wed Dec 19, 2012 10:07 am
Location: Chicago

Postby nishant » Sat Jan 12, 2013 1:13 am

Which grocery shop for which Amex Blue Cash Preferred gives 6% discount also sells $500 Mastercard gift card?

cashback
Centurion Member
Centurion Member
 
Posts: 793
Joined: Mon Oct 22, 2012 7:11 pm
Location: NY

Postby cashback » Sat Jan 12, 2013 1:36 am

A lot of the large grocery stores sell $500 gift cards. Seeing that you live in/near Chicago, there should be plenty of grocery stores at your disposal.
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

paparoach429
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Posts: 331
Joined: Tue Sep 11, 2012 12:21 am
Location: chicago

Postby paparoach429 » Sat Jan 12, 2013 2:40 am

Damn you guys are crazy about rewards! lol are they really that worth it!?

nishant
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Posts: 120
Joined: Wed Dec 19, 2012 10:07 am
Location: Chicago

Postby nishant » Sat Jan 12, 2013 8:50 am

Visa charges additional $4.95 for gift card for $100 face value. I checked with Pharmacy stores. Where is the saving if you are buying gift card at a premium?

cashback
Centurion Member
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Posts: 793
Joined: Mon Oct 22, 2012 7:11 pm
Location: NY

Postby cashback » Sat Jan 12, 2013 10:42 am

It only works if you buy $500 gift cards. The ones I get are variable rate ones, you can put anywhere from $20 to $500 on them with a $5.95 fee. So, If you buy them from teh grocery store with your BCP you get 6% back.

505.95 x 0.06 = $30.36

30.36 - 5.95 = $24.41

Your net gain for each $500 gift card you buy is $24.41 which is 4.9% (24.41/500). So when you use the gift card, you're getting 4.9% cash back on anything you buy with it.
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

MemberSince99
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Posts: 4913
Joined: Sun May 20, 2012 4:35 pm
Location: WI

Postby MemberSince99 » Sat Jan 12, 2013 12:47 pm

That's too complicated for me. Yeah I could sit there and do the math and determine exactly what card to use to buy what, instead I just use my Cash + for just about everything, set a few low recurring charges on other cards I don't use heavily, and occasionally use the others to keep them open. It gets too complicated trying to keep track of ok for this item on this date range I use this card which has a cut off date of x/xx so I have to pay it off and report a 0 balance before then by using this other card which is the next best, etc. Too much work for an idiot like me to keep track of and mess with. My favorite cards get my business and the rest get what's left, just like the creditors treat me basically.

cashback
Centurion Member
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Posts: 793
Joined: Mon Oct 22, 2012 7:11 pm
Location: NY

Postby cashback » Sat Jan 12, 2013 12:59 pm

MemberSince99 wrote:That's too complicated for me. Yeah I could sit there and do the math and determine exactly what card to use to buy what, instead I just use my Cash + for just about everything, set a few low recurring charges on other cards I don't use heavily, and occasionally use the others to keep them open. It gets too complicated trying to keep track of ok for this item on this date range I use this card which has a cut off date of x/xx so I have to pay it off and report a 0 balance before then by using this other card which is the next best, etc. Too much work for an idiot like me to keep track of and mess with. My favorite cards get my business and the rest get what's left, just like the creditors treat me basically.


It can get confusing for some people, but the $2500+ check every December makes it worth it for me.
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

nishant
Centurion Member
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Posts: 120
Joined: Wed Dec 19, 2012 10:07 am
Location: Chicago

Postby nishant » Sat Jan 12, 2013 5:44 pm

Amex BCP has 6% availble for only for $500 per month or $6000 per year after which you get 1% only. Plus you pay monthly fee of $6.25 or $75 per year. Not very impressive.

I can get 5% straight discount using Discover by buying items from Walmart online & pick up from nearby Walmart in 4 hours on same day.

cashback
Centurion Member
Centurion Member
 
Posts: 793
Joined: Mon Oct 22, 2012 7:11 pm
Location: NY

Postby cashback » Sat Jan 12, 2013 6:14 pm

nishant wrote:Amex BCP has 6% availble for only for $500 per month or $6000 per year after which you get 1% only. Plus you pay monthly fee of $6.25 or $75 per year. Not very impressive.

I can get 5% straight discount using Discover by buying items from Walmart online & pick up from nearby Walmart in 4 hours on same day.


Getting at least 4.9% on all purchases in not very impressive? I'd like to get the rewards you get then.

And you can use the drug store category to buy gift cards with other 5% cards (Freedom, Dividend). That way there is more cap room. And Walmart was just an example. There are many other purchases that don't fit under a rewards category. By using gift cards to cover these purchases, you are always getting at least 4.9%.

I just paid my Sirius Satellite radio yearly subscription with a gift card, for example. Also, I use it to pay my heating bill (propane). It's nice getting 4.9% on $300 a month in the winter time (Cash+ does not count it for Bill Pay).
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781



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