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Earlier quoted context omitted.
But most families will easily recover that just on their grocery shopping alone.
I use this Amex card for everything, the 6% back on groceries is great and more than pays for the cards higher fee. The last two years we've capped out the 6k max which is $350 right there. Bonus, the card is clear plastic which everyone comments on when they see it.
Some of these are incredible - 6% cashback on groceries? I'd be surprised if the profit margin on groceries was as high as 6%.
$300 * 12 (months) = $3600 (yearly food budget) * 0.06 (rewards) = $216 - $95 (annual fee) = $121 reward dollars annually.
Now consider the amex interchange rate of 1.95% + $0.10 per retail transaction. Let's say I shop 24 times in a year. ($0.10 * 24) + ($3600 * 0.0195) = $72.6.
The most amex could possibly lose on my card in a year is $73. But only the most disciplined people will use it for groceries and only groceries.
If your spending is high enough: Chase sapphire reserve. Has an effective annual fee of $150 but strong benefits. You can cash out or get a 25% bonus when using it to pay for air travel. It’s metal which seems nice but really isn’t. You can’t stick it into many machines and eventually it delaminates.
If your spending is high enough: Chase sapphire reserve. Has an effective annual fee of $150 but strong benefits. You can cash out or get a 25% bonus when using it to pay for air travel. It’s metal which seems nice but really isn’t. You can’t stick it into many machines and eventually it delaminates.
Author of this page, if you're reading this, thank you for making this a plain text table of data with none of the tracking and marketing cruft that most people would do with this data. I really appreciate the efficiency of this approach and I'm grateful to you for keeping it simple.
Thanks for the data! Are you sure that the USAA card gives 2.5% cash back? Their website says it's only 1.5% [1]. [1] https://www.usaa.com/inet/wc/bank-credit-card-preferred-cash...
https://www.doctorofcredit.com/usaa-limitless-2-5-cashback-n...
Author of this page, if you're reading this, thank you for making this a plain text table of data with none of the tracking and marketing cruft that most people would do with this data. I really appreciate the efficiency of this approach and I'm grateful to you for keeping it simple.
Barclaycard Arrival Plus missing from the list, it's my go-to card. I recommend it to everyone. * 2 points for each $1 spent + 5% bonus on redeeming (effectively 2.1% in cash back) * 70,000 points ($700) on signup with minimum spend * $89 annual fee, waived first year * No foreign transaction fees https://cards.barclaycardus.com/banking/cards/barclaycard-ar...
* Redemption is extremely limited (only 1cpp for reimbursements for "travel" charges, and minimum 10,000 points ($100) redemption)
* That annual fee quickly eats into effective cash back after the first year. There are 1.5% cashback cards with zero annual fee; for that extra 0.5% to be worth $90 you have to put more than $18k in spend on the card every year.
I got one of these for the sign-up bonus (and I'd recommend doing so!) but I wouldn't hold on to it for a cashback card.
If your spending is high enough: Chase sapphire reserve. Has an effective annual fee of $150 but strong benefits. You can cash out or get a 25% bonus when using it to pay for air travel. It’s metal which seems nice but really isn’t. You can’t stick it into many machines and eventually it delaminates.