Credit Tips: Best Cash Back Credit Card

Posted On: July 1, 2005

Author: SWengineer
Title: Best Cash Back Credit Card
Date: Tue Jan 20, 2004 11:38 pm

QUESTION FOR CREDIT CARD GURUS:

I spend approx. 12-18k yearly on my visa gold credit card and currently have no benefits, and am looking into switching to another credit card which will offer me the best rewards ( I’m not really interested in travel incentives just cash/credit back ). I always pay off my entire monthly balance. I have very good credit. Any recommendations on what credit cards would meet these requirements?

Thanks,

SWengineer

Author: Eugene
Title: Best Cash Back Credit Card
Date: Tue Jan 20, 2004 11:39 pm

With $12k to $18k annual spending I recommend AmEx Blue Cash (http://www66.americanexpress.com/cards/Fmacfservlet?csi=67/20/b/3/1176803060/117210456952/20/n&from=0).

What bank is the issuer of the card you have now? If it’s Citibank, MBNA or Chase, for example, you may be able to trade your current card for a straight 1% card from them that you could use as backup to Amex.

Eugene.

Author: Eugene
Title: Best Cash Back Credit Card
Date: Tue Jan 20, 2004 11:45 pm

I’ll take liberty and post here your email reply to me. I can’t answer all questions, but maybe somebody else will be able to.

SWengineer wrote:
> My current Visa Gold(no rewards) is with BofA.
> What do you think about the Chase Stockback mastercard?
> I will do some research on the AmEx Blue Cash.
> Thanks,
> SWengineer

My reply:

You might want to call Bank of America and ask them if they have any kind of cash back cards, and if so, if they can replace your current one for one of those (if you are interested, of course). Then you can use that one as a back-up for AmEx.

Chase Stockback looks OK, not better or worse that many other 1% cards available from many issuers. I would recommend taking the rebate in cash and not depositing it into their mutual fund. You have a much greater choice of mutual funds if you do your own choosing and investing.

Eugene.

Author: SWengineer
Title: Best Cash Back Credit Card
Date: Tue Jan 20, 2004 11:46 pm

I read on the card report page from www.CardRatings.com that the Chase Freedom card offers 3% credit back on ALL gasoline purchases and a full 1% back on all other purchases. But i can’t seem to find the card from the Chase home page:
http://creditcardsatchase.com/portal/site/marketing/?pgTitle=pg_creditcardhome

I had to use a seperate link, which does not specify the details of the benefits offered:
http://www.creditcardsatchase.com/portal/index.jsp?pgTitle=pg_freedomrmhome

Can a current Chase freedom user please post the rewards that are being offered i.e.(credit or cash back), or has the Chase Freedom card been discountinued?