Since I wrote How to Earn Thousands with Credit Card Rewards there has been a good amount of change in my credit card strategy.
I thought I’d share those changes with you and hear what you are doing these days with your card strategy.
FYI, Quicken shows that I have redeemed about $830 so far in cash back rewards this year. Not bad, huh?
That said, some of the monies were from charges I made last year, so it’s not a clear year to year revenue picture.
In addition, I have one card (as you’ll see below) that does not give cash back but simply takes the rebate and deducts the amount from your bill, which essentially is cash back.
But I’m getting ahead of myself…
If you recall, here are the cards I used to use:
- Fidelity American Express — Pays 2% cash back on every charge made. This was my most used card and basically guarantees me a minimum return on purchases of 2%.
- Chase Freedom — Pays 5% in rotating categories which change quarterly.
- Chase Ink — Gives us 5% cash back on cable and cell phone charges. Given we spend $300 on these each month, it’s an easy $180 a year.
Here are the cards I’m using now (just a few months later) to maximize my cash back:
- Fidelity Visa — Same 2% cash back card as above but now a Visa instead of an American Express. I actually prefer this as Visa is accepted at more places. Plus one of the biggest places I had used the Amex was at Costco, and Costco no longer accepts American Express.
- Chase Freedom — Pays 5% in rotating categories which change quarterly. The big news here is that the Chase Freedom Visa card will offer 5% cash back at Costco through the end of 2016. I spend a TON of money at Costco and am loving the idea of getting 5% back on all of it.
- Chase Ink — Gives us 5% cash back on cable and cell phone charges. Still love using this one.
- Costco Visa — It’s been fairly big news that Costco recently switched from American Express to Visa. I applied for their new card shortly after it came out on June 20 and received it a few days later. It offers 4% cash back on gas, 3% cash back at restaurants and on travel, 2% at Costco, and 1% on all else. I use it for gas, restaurants, and travel (when Chase doesn’t have these at 5%), but will stick with the Chase Freedom card for Costco purchases (at least until January 1). After January 1, I’ll either use this card or the Fidelity card at Costco. As for “all other purchases”, I’ll use the Fidelity Visa.
- Amazon Store Credit Card — This is a 5% cash back card that automatically deducts earnings from the charges made at Amazon. As you know, I shop a lot at Amazon, so this card is saving me a TON.
So, that’s my current list of credit cards. What do you think? What cards are your favorites now?