Cash Back Credit Card Comparison • Hacker News Board

Re: Cash Back Credit Card Comparison

#31

Post by loeg » Sat, Mar 30, 2019, 2:23 AM UTC

mehrdadn wrote: post #25

encoderer wrote: post #16

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.

Annual fee is $450 not $150. You forgot to mention the $300 travel credit is only relevant if you spend $300+ on travel each year regardless of whether you have the card.

It's easy to cash out the travel credit without traveling.

Re: Cash Back Credit Card Comparison

#32

Post by mehrdadn » Sat, Mar 30, 2019, 2:23 AM UTC

gst wrote: post #28

For a no AF 2% card the PenFed card not on the list ( https://www.penfed.org/credit-cards/power-cash-rewards ) looks better than Double Cash as it doesn't have foreign transaction fees. To receive the full 2% cashback a PenFed checking account is required, but there's no annual fee on that account either.

For travel you might want the Pathfinder Rewards card instead. If you're not traveling Citi has the advantage of letting you create virtual account numbers and showing you your FICO score.

Re: Cash Back Credit Card Comparison

#33

Post by favorited » Sat, Mar 30, 2019, 2:25 AM UTC

dnhz wrote: post #13

alexhutcheson wrote: post #10

Earlier quoted context omitted.

One theory is that the high rate on groceries is a way to make you carry around the card every day, so you're more likely to use it on other things.

With contactless payment systems like Apple Pay, there's little need to carry around more than one default credit card.

Unless you end up somewhere that doesn't support ApplePay, and doesn't accept AmEx. It's uncommon (where I live, at least), but it definitely happens.

Re: Cash Back Credit Card Comparison

#34

Post by mehrdadn » Sat, Mar 30, 2019, 2:27 AM UTC

loeg wrote: post #31

mehrdadn wrote: post #25

Earlier quoted context omitted.

Annual fee is $450 not $150. You forgot to mention the $300 travel credit is only relevant if you spend $300+ on travel each year regardless of whether you have the card.

It's easy to cash out the travel credit without traveling.

Wait really? How? I thought it was called travel credit for a reason...

Re: Cash Back Credit Card Comparison

#35

Post by markovbot » Sat, Mar 30, 2019, 2:29 AM UTC

rradu wrote: post #12

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...

I get these once or twice a year, meet the minimum spend, use the points and cancel the card. Repeat after 6 or more months as a "new customer".

Re: Cash Back Credit Card Comparison

#36

Post by randomacct3847 » Sat, Mar 30, 2019, 2:30 AM UTC

Personal opinion: Straight cash back cards are not exciting at all. You’re better off watching what you spend than getting excited about getting $20 back for spending every $1000.

Credit cards in the US are exciting right now because of premium rewards, mainly airlines miles, credit card points (Chase Ultimate Rewards, Citi TY, Amex Membership Rewards), which could be worth 2-5 cents per point. Unlike cash back cards, these usually come with a fee though many waive it the first year.

Re: Cash Back Credit Card Comparison

#37

Post by loeg » Sat, Mar 30, 2019, 2:30 AM UTC

mehrdadn wrote: post #34

loeg wrote: post #31

Earlier quoted context omitted.

It's easy to cash out the travel credit without traveling.

Wait really? How? I thought it was called travel credit for a reason...

They don't take the credit back on refunds.

Re: Cash Back Credit Card Comparison

#38

Post by MaxGabriel » Sat, Mar 30, 2019, 2:34 AM UTC

mehrdadn wrote: post #34

loeg wrote: post #31

Earlier quoted context omitted.

It's easy to cash out the travel credit without traveling.

Wait really? How? I thought it was called travel credit for a reason...

Uber/Lyft count for travel which helps a lot.

Re: Cash Back Credit Card Comparison

#39

Post by inerte » Sat, Mar 30, 2019, 2:35 AM UTC

mehrdadn wrote: post #34

loeg wrote: post #31

Earlier quoted context omitted.

It's easy to cash out the travel credit without traveling.

Wait really? How? I thought it was called travel credit for a reason...

Really. They don’t GPS you to know you’re away from home. It’s not _that_ hard. This is the broad categories they cover:

Merchants in the travel category include airlines, hotels, motels, timeshares, car rental agencies, cruise lines, travel agencies, discount travel sites, campgrounds and operators of passenger trains, buses, taxis, limousines, ferries, toll bridges and highways, and parking lots and garages.

Re: Cash Back Credit Card Comparison

#40

Post by michaelmior » Sat, Mar 30, 2019, 2:36 AM UTC

randomacct3847 wrote: post #36

Personal opinion: Straight cash back cards are not exciting at all. You’re better off watching what you spend than getting excited about getting $20 back for spending every $1000. Credit cards in the US are exciting right now because of premium rewards, mainly airlines miles, credit card points (Chase Ultimate Rewards, Citi TY, Amex Membership Rewards), which could be worth 2-5 cents per point. Unlike cash back cards…

I prefer cash back cards because I don't fly enough to care about miles. I also don't really want to think about points that I don't get to spend however I want. But I can imagine if you like the other rewards offered on some cards, you're probably getting more value than with cash back.