Preparing for Costco going Visa

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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GoCreditGo!
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Preparing for Costco going Visa

Postby GoCreditGo! » Fri Aug 14, 2015 3:00 pm

Which is the best cashback Visa card available today?


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CarefulBuilder14
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Re: Preparing for Costco going Visa

Postby CarefulBuilder14 » Fri Aug 14, 2015 3:15 pm

GoCreditGo! wrote:Which is the best cashback Visa card available today?

If you have $100k+ in assets at BofA, Travel Rewards would yield 2.625% cash back.

I'm still apprehensive about using Merrill Edge, so I'll probably stick with CSP or buy Costco Cash to meet minimum spend on future cards.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

GoCreditGo!
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Re: Preparing for Costco going Visa

Postby GoCreditGo! » Fri Aug 14, 2015 6:47 pm

CarefulBuilder14 wrote:
GoCreditGo! wrote:Which is the best cashback Visa card available today?

If you have $100k+ in assets at BofA, Travel Rewards would yield 2.625% cash back.

I'm still apprehensive about using Merrill Edge, so I'll probably stick with CSP or buy Costco Cash to meet minimum spend on future cards.




How does the 2.625% cash back work. I'm interested to learn more.

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CarefulBuilder14
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Re: Preparing for Costco going Visa

Postby CarefulBuilder14 » Fri Aug 14, 2015 7:26 pm

GoCreditGo! wrote:
CarefulBuilder14 wrote:
GoCreditGo! wrote:Which is the best cashback Visa card available today?

If you have $100k+ in assets at BofA, Travel Rewards would yield 2.625% cash back.

I'm still apprehensive about using Merrill Edge, so I'll probably stick with CSP or buy Costco Cash to meet minimum spend on future cards.




How does the 2.625% cash back work. I'm interested to learn more.

1.5% plus a 75% bonus.
http://info.bankofamerica.com/preferred-rewards/

*The signup bonus is also pretty unexciting.*
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

CC Deville
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Re: Preparing for Costco going Visa

Postby CC Deville » Fri Aug 14, 2015 7:54 pm

I think the answer can be subjective. For me, my BofA Cash Rewards Visa Signature works the best for how I spend, 3% on gas, 2% on groceries and 1% everywhere else. And since I have a free BofA checking account, my rewards get an additional 10% bonus when I redeem to my BofA checking account which makes it a 3.3%, 2.2% and 1.1% cash back card. I spend a bit on gas and groceries so it works for me.

Now, if you spend very little on gas or groceries than the Capital One Quicksilver at 1.5% back on everything is probably the better deal.

Some people may find that the Chase Freedom is the better deal provided that they make use of the 5% rotating categories.

Better yet, if you don't mind MasterCard, the Citibank Double Cash is arguably the best, standard cash back card right now. As with any reward card, however, I am sure that they will eventually nerf that or make it harder to redeem etc.

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CarefulBuilder14
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Re: Preparing for Costco going Visa

Postby CarefulBuilder14 » Fri Aug 14, 2015 10:14 pm

CC Deville wrote:I think the answer can be subjective. For me, my BofA Cash Rewards Visa Signature works the best for how I spend, 3% on gas, 2% on groceries and 1% everywhere else. And since I have a free BofA checking account, my rewards get an additional 10% bonus when I redeem to my BofA checking account which makes it a 3.3%, 2.2% and 1.1% cash back card. I spend a bit on gas and groceries so it works for me.

Now, if you spend very little on gas or groceries than the Capital One Quicksilver at 1.5% back on everything is probably the better deal.

Some people may find that the Chase Freedom is the better deal provided that they make use of the 5% rotating categories.

Better yet, if you don't mind MasterCard, the Citibank Double Cash is arguably the best, standard cash back card right now. As with any reward card, however, I am sure that they will eventually nerf that or make it harder to redeem etc.

Are you suggesting buying Costco Cash online with a MasterCard, having it shipped USPS, and then using it in the warehouse?

I'd do that for minimum spend (and did for my rushed IHG bonus swap), but it's not simple and there are easier ways to earn 2% cash on a long-term basis.
Wallet: Prestige CSP SchwabPlat Freedom It Hyatt SallieMae AAPlat
SD: Arrival BrooksBros BCE ED IHG
Letting new accounts cool off since May
Really not sure what I'll add next or when

Vermonster
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Re: Preparing for Costco going Visa

Postby Vermonster » Sat Aug 15, 2015 9:21 am

I would be a bit shocked if Citi did not replicate the Costco TE card. It has been a staple of regular Costco shoppers for years now. It had a pretty solid rewards structure that can easily be replicated on a Citi card. I actually find it a little weird that CIti and Visa were picked as the only Visa cards Citi has are the Hilton Honors. But I guess it leaves a lot of room for expansion in their Visa branded lineup.
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k

CC Deville
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Re: Preparing for Costco going Visa

Postby CC Deville » Sat Aug 15, 2015 6:50 pm

[quote="CarefulBuilder14"} [/quote]
Are you suggesting buying Costco Cash online with a MasterCard, having it shipped USPS, and then using it in the warehouse?

I'd do that for minimum spend (and did for my rushed IHG bonus swap), but it's not simple and there are easier ways to earn 2% cash on a long-term basis.[/quote]

No, I got on a tangent and forgot the OP's tie in to Costco/Visa specific.

yfan
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Re: Preparing for Costco going Visa

Postby yfan » Mon Aug 17, 2015 11:04 am

GoCreditGo! wrote:Which is the best cashback Visa card available today?

If you discount rewards boosters like Bank of America's, the best flat rewards you can do with a Visa is the Orbitz Rewards Visa. It earns 2% flat outside of Orbitz purchases (5% on Orbitz). The only catch is that you can only use it to pay (in full or partially) for hotel rooms booked and prepaid through Orbitz. So if you use Orbitz for travel including booking hotels (or think you can), this is an excellent choice.

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Re: Preparing for Costco going Visa

Postby Vermonster » Mon Aug 17, 2015 3:46 pm

yfan wrote:
GoCreditGo! wrote:Which is the best cashback Visa card available today?

If you discount rewards boosters like Bank of America's, the best flat rewards you can do with a Visa is the Orbitz Rewards Visa. It earns 2% flat outside of Orbitz purchases (5% on Orbitz). The only catch is that you can only use it to pay (in full or partially) for hotel rooms booked and prepaid through Orbitz. So if you use Orbitz for travel including booking hotels (or think you can), this is an excellent choice.


I think I'd rather have a BoA travel card than deal with that crap for an extra 0.5%
Chase Freedom $9k~~Chase Sapphire Preferred $6.5k~~Amex Blue Cash Preferred $12.4k~~Citi Double Cash $4.7k



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