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There are a couple of new no-annual-fee cards that make the list of best cash back credit cards in 2020, including a card from US Bank that gives you 4% back at restaurants and a Mastercard from Chase with World Elite perks.

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I’m certainly a fan of earning travel rewards, but it’s tough to beat plain hard cash back, especially in a year in which travel is especially difficult.

Every time you swipe a credit card, the merchant pays a fee in the neighborhood of 3%. Businesses that want to be profitable will factor those costs into the price of the products and services they offer.

If you assume you’re paying about a 3% premium on everything you purchase, you might as well do what you can to get most of that money back.

As someone who likes to optimize, I’ve often found ways to get more than 3% back on my money via a combination of welcome bonuses with new cards and efficient use of travel rewards points.

Always trying to squeeze the most out of every point can be challenging, time-consuming, frustrating, and even stressful. There are times where it’s just easier to use a good cash back card and know exactly what your return will be.

 

Best-Cash-Back-Credit-Cards

 

The Best Cash Back Credit Cards in 2020

 

Today, I’ll review some of the best cards available for good old, simple cash back.

As mentioned in the small print above, I may receive compensation from a card issuer if you use the links on this page and end up with a new and better card for your wallet. Doing so supports our charitable mission (I say our because it’s nothing without you).

I donate half of my online profits, and I appreciate you using my site as a launching point for exploring credit card options.

 

Personal Cards Offering Cash Back as a Flat Percentage

 

It doesn’t get any simpler than getting a flat percentage back on every dollar you spend. These cards are ideal for the person who wants to have one card to use on everything. It’s simplicity at it’s finest.

 


Chase Freedom Unlimited

The Chase Freedom Unlimited card offers $200 cash back after spending $500 in the first three months. The card also offers a flat 1.5% cash back on all purchases. Additionally, the card offers 5% back on grocery store purchases of up to $12,000 in the first year.

 

Chase Freedom Unlimited

$200 cash back with a $500 spend in 3 months
PoF Summary

The Chase Freedom Unlimited offers a flat 1.5% cash back on all purchases and 5% back on grocery store purchases of up to $12,000 in the first year. No annual fee.


Capital One Quicksilver Cash Rewards Card

The Capital One Quicksilver Cash Rewards Card will also get you 1.5% back on all purchases. Like the others above, there is no annual fee and there are no foreign transaction fees when using this card outside of the United States.

The early spend bonus on this card is $150 when you put a total of $500 on the card within the first three months.

 

Capital One Quicksilver 300

Capital One Quicksilver

$150 cash back with a $500 spend in 3 months
PoF Summary

The Quicksilver Card gives you unlimited 1.5% cash back on all purchases. No foreign transaction fees & no annual fee.


Citi Double Cash Card

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The Citi Double Cash Card offers a total of 2% cash back on all purchases: 1% when you charge and 1% when you pay.

The card carries no annual fee and a 0% introductory APR on balance transfers for 18 months (fees apply).

Since the card offers no welcome bonus, one must do the math to determine how long it will take to break even when comparing to one of the cards above with a $150 or $200 welcome bonus.

The Citi Double Cash Card pays an extra 0.5%, or 50 cents on every $100 spent on the card as compared to those giving you 1.5%. That’s $5 extra per $1,000 spend, and $50 per $10,000.

The breakeven point, therefore, occurs when you’ve spent $30,000 on the Double Cash card as compared to those offering a $150 welcome bonus, and $40,000 as compared to a card like the Chase Freedom Unlimited offering a $200 welcome bonus.

 

Citi Double Cash 300

Citi Double Cash


PoF Summary

The Citi Double Cash offers a flat 2% cash back on all purchases (1% when you buy, 1% when you pay). No welcome bonus. No annual fee.



 

Business Cards Offering Cash Back as a Flat Percentage

 

Chase Ink Business Unlimited

The Chase Ink Business Unlimited card gives you unlimited 1.5% cash back on all purchases. The card has no annual fee.

The welcome bonus is quite generous for a no-annual-fee card at $500 after a $3,000 spend within the first three months.

 

Chase Ink Business Unlimited 2020 300

Chase Ink Business Unlimited

$500 cash back with a $3,000 spend in 3 months
PoF Summary

The Chase Ink Business Unlimited offers a flat 1.5% cash back on all purchases. 0% introductory APR for 12 months. No annual fee.


 

The Capital One Spark Cash for Business card gives you 2% flat cash back on all purchases.

In addition, there’s a $500 welcome bonus for new cardholders who spend $4,500 in purchases in the first three months. The annual fee of $95 is waived the first year.

This card is not currently available from our partner CardRatings, but may be available on other sites. I recommend waiting until this card has a limited time offer that quadruples the welcome bonus for those who spend a total of $50,000 in the first six months.


 

If you prefer a card with no annual fee, the Capital One Spark Cash Select for Business card is just that. The downside is that you get 1.5% cash back instead of the 2% you earn with the non-Select version of the card. This card is also not currently available via CardRatings.

This card also has a smaller welcome bonus of $200 after a $3,000 spend in the first three months.

How do you determine which card is best betwee the Spark Cash and Spark Cash Select?

The break-even point is at about $20,000 in annual spending on the card.

1.5% cash back would be $300.

2% back would be $400.

It makes sense to pay a $95 annual fee to get an extra $100 in cash back, not to mention the larger welcome bonus.

If you spend less than $20,000 on a business card, the Cash Select card may make more sense for you, although the Chase Ink Business Unlimited card has the same cash back percentage, also has no annual fee, and a welcome bonus of $500 rather than $200.


 

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Personal Cards Offering Variable Cash Back in Different Categories

 

The cards above are the simplest for earning cash back rewards. It doesn’t matter what you spend your money on; the cash back is the same.

The following cards take a little more effort to optimize. Many will offer 1% cash back in certain categories and 2% to 6% cash back in others. Those categories are static in some cards, rotate quarterly in others, and some cards let you choose the categories for increased cash back.

Let’s look at some of the top cards in this category.


Chase Freedom Flex

There’s a new cash back card from Chase in 2020, the Chase Freedom Flex. Like its predecessor, the Chase Freedom card, it offers 5% back on rotating categories that you activate quarterly.

Unlike the Freedom Card, it’s branded as a Mastercard rather than a Visa. That gets you World Elite perks specific to Mastercard like a complimentary ShopRunner subscription and additional Lyft perks ($10 credit when you use Lyft 5 times a month.

In addition, the card gives you 5% back on grocery store purchases all year long on up to $12,000 and 5% off of Lyft rides. You’ll also get 3% back at drug stores and restaurants at all times.

The card comes with a strong $200 cash back bonus once you spend $500 in your first three months with the card. Think of the Flex as the new and improved Freedom card from Chase.

 

Chase Freedom Flex

$200 cash back with a $500 spend in 3 months
PoF Summary

The Chase Freedom Flex offers a 5% cash back on categories that rotate quarterly, 3% back at restaurants and drug stores, 5% back on grocery store purchases of up to $12,000 in the first year, and 1% back on all else. No annual fee.



Blue Cash Preferred Card

The Blue Cash Preferred Card from American Express is great for those of you who spend more on groceries than dining out. Count me among them.

You get a full 6% back at U.S. supermarkets on the first $6,000 in annual grocery store purchases and many popular streaming services.

U.S. Gas station purchases and other ground transit will net you 3% in cash back, and all other purchases give you 1% back.

The card does have a $95 annual fee which is waived in year one, and a $300 welcome bonus when you spend $3,000 in the first three months after opening your account.

 

American Express Blue Cash Preferred

$300 cash back with a $3,000 spend in 3 months
PoF Summary

The Blue Cash Preferred card offers 6% back on up to $6,000 a year in grocery store purchases and 6% back on popular streaming services. 3% back on gas station & transit purchases, 1% back on all else. $95 annual fee waived the 1st year.


Blue Cash Everday Card

The Blue Cash Everday Card from American Express is the no annual fee version of the AmEx Blue card.

The perks are lower, but you will get 3% back on U.S. supermarket purchases (with the same $6,000 limit), 2% back at U.S. gas stations, and 1% elsewhere.

The welcome bonus is 33% lower at $200 after meeting a minimum spend of $1,000 in the first three months.

 

American Express Blue Cash Everyday

$300 cash back with a $3,000 spend in 3 months
PoF Summary

The Blue Cash Everyday card offers 3% back on up to $6,000 a year in grocery store purchases 2% back on gas station & transit purchases, 1% back on all else. No annual fee.


The US Bank Altitude Go

US Bank also has a new card in 2020, the US Bank Altitude Go Visa Signature Card.

It’s a no annual fee card with some unique features, including an annual $15 credit for popular streaming services. The cash back rewards operate on a point system where 100 points = $1.

The welcome bonus is 25,000 points ($250 worth) after a spend of $1,000 in the first 90 days. You’ll receive 4x points on restaurants and food delivery, 2x on grocery stores and delivery, gas stations, and streaming services, and 1x (i.e. 1% back) on everything else.

This is a great no-fee card for someone who frequently dines out or orders takeout and would like a free month of Netflix each year.

 

USBank Altitude go 300 rotated

US Bank Altitude Go

$250 cash back (25,000 pts) with a $1,000 spend in 90 days
PoF Summary

The Altitude Go card gives you 4% back on restaurants, 2% at grocery stores, gas stations, and streaming services. 1% on all else plus a $15 annual streaming credit. No annual fee.


Costco Anywhere Visa Card

The Costco Anywhere Visa Card by Citi is for Costco members exclusively. There is no welcome bonus and no annual fee if you have a paid Costco membership.

The cash back perks are pretty sweet with 4% back on the first $7,000 in gasoline. If you’re spending more than that, you should drive less or get a more fuel-efficient vehicle.

Restaurants and eligible travel purchases will get you 3% cash back, you’ll receive 2% cash back on Costco purchases, and 1% back on everything else.

 

Citi Costco Anywhere 300

Costco Anywhere Visa® Card by Citi


PoF Summary

The Costco Anywhere Visa® Card by Citi is a no-brainer for Costco members. Get 4% back on up to $7,000 in gasoline per year, 3% back at restaurants & travel, 2% at Costco, and 1% on all else. No annual fee (with paid Costco membership).


Business Cards Offering Variable Cash Back in Different Categories

 

Chase Ink Business Cash

The Chase Ink Business Cash card is, in my opinion, the best business credit card with variable cash back.

The card has no annual fee ever, a $500 welcome bonus with a $3,000 spend in three months, and offers up to 5% cash back.

You’ll earn 5% on the first $25,000 spent (that’s $1,250 cash back) on purchases at office supply stores (Staples, Office Depot, Office Max), cellular and landline telephone service, internet, and cable TV services.

Gas station purchases are rewarded with 2% cash back and you’ll get 1% back on everything else.

Chase Ink Business Unlimited 2020 300

Chase Ink Business Cash

$500 cash back with a $3,000 spend in 3 months
PoF Summary

The Chase Ink Business Unlimited offers 5% back on up to $25,000 spent on cell and landline service, internet, cable TV, and at office supply stores. 2% back at gas stations & 1% back on all else. No annual fee.


American Express Blue Business Cash

The American Express Blue Business Cash card is another option for a variable cash back business card, and it’s a little more straightforward.

You’ll earn 2% back on the first $50,000 spent annually, and 1% back on additional purchases.

There’s no cash welcome bonus like the Ink Business Cash‘s generous $500, but they will give you a credit of up to $100 each at FedEx, Dell, and DocuSign if you shop with those merchants in your first three months.

 

American Express Blue Business Cash


PoF Summary

The Blue Business Cash card gives you 2% cash back on the 1st $50,000 spent annually, and 1% after that. No annual fee.


 
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Cards with Points That Can Be Converted to Cash

 

For the most part, the cards above offer cash or cash equivalents as your only reward option. There are lots of other great cards that work on a point system, and those points can often be converted to cash or cash equivalents, often on a 1 point = 1 penny conversion factor.

In many cases, cash is not the best redemption option for these points, and it’s not unusual for people to get 1.5 to 2 cents or more in value per point when redeemed for travel or other perks.

There are too many cards to go into the same level of detail as we have with the other cards, but some of the top cards that fit this category are worth mentioning, and you can follow the links for all you’ll need to know.

 

Personal Credit Cards with Flexible Points

 

 

Business Credit Cards with Flexible Points

 

 

Developing Your Cash Back Strategy

 

One Card Strategies:

 

If simplicity is your thing, I recommend getting a single card with a flat percentage of at least 1.5% back and using it for everything you buy. If you put $50,000 on a card in a year, that will net you $750 back annually, and you may get a welcome bonus on top of that.

 

 

The Chase Freedom Unlimited Card will give you $250 after spending $500 in three months. If you’d rather forego the welcome bonus but get 2% back on everything, look to the Citi Double Cash card.

 

If you’ve got a small business, and you plan to spend $50,000 in a year (with half of that coming in eligible categories), the Chase Ink Business Cash card could net you $1,250 on the 5% cash back category, and at least another $250 (more if you spend at gas stations).

Add on the $500 welcome bonus for meeting the minimum spend of $3,000 in three months and you could earn at least $2,000 cash back in your first year with the Chase Ink Business Cash card.

 

Two Card Strategies:

If you’re willing to use two or more cards to optimize your cash back, consider getting additional cards. Choose from cards that always give a higher return on certain categories and those that give more cash back in rotating categories. A label maker can come in handy to update the categories offering increased cash back four times a year.

It makes sense to pair your choice of flat cash back cards above with a variable cash back card.

The Chase Freedom Flex card with it’s 5% cash back at grocery stores and on rotating categories is a great option. It also offers some travel perks like travel cancellation or interruption insurance.

 

Small business owners pursuing a two-card strategy could pair the Chase Ink Business Cash card (variable cash back) with the Chase Ink Business Unlimited (flat rate cash back) or Chase Ink Business Preferred (valuable Chase Ultimate Reward points) and $1,000 in combined welcome bonuses between the two cards (when spending $3,000 on each in the first three months).

 

Chase Freedom Flex

$200 cash back with a $500 spend in 3 months
PoF Summary

The Chase Freedom Flex offers a 5% cash back on categories that rotate quarterly, 3% back at restaurants and drug stores, 5% back on grocery store purchases of up to $12,000 in the first year, and 1% back on all else. No annual fee.

Chase Ink Business Unlimited 2020 300

Chase Ink Business Unlimited

$500 cash back with a $3,000 spend in 3 months
PoF Summary

The Chase Ink Business Unlimited offers a flat 1.5% cash back on all purchases. 0% introductory APR for 12 months. No annual fee.

 

Three Card Strategies:

The point of this article is finding a card or two that can give you simple cash back for those who don’t want to fuss too much with credit card rewards. Adding a third card to your armamentarium may be counter to our goals here.

Nevertheless, it may be as simple as adding a business card to a two-card personal credit card strategy or vice versa.

If we’re looking solely at personal cards, you’ll want to add a card that gives you increased cash back in one or more categories that the other cards don’t.

 

A pretty sweet three-card strategy could look like this:

 

The welcome offers after meeting minimum spending requirements in the first year for these two cards that offer them add up to $550. You’ll have no annual fee in the first year, and a $95 annual fee for the Blue Cash Preferred card each year thereafter. For a no annual fee opiton, you could downgrade to the Blue Cash Everyday card with a phone call at the end of that first year.

 

Additional options to swap for those above for a no-annual-fee setup include the two Chase Freedom Cards. Each of these has a $200 when you spend just $500 in the first three months with the card.

 

USBank Altitude go 300 rotated

US Bank Altitude Go

$250 cash back (25,000 pts) with a $1,000 spend in 90 days
PoF Summary

The Altitude Go card gives you 4% back on restaurants, 2% at grocery stores, gas stations, and streaming services. 1% on all else plus a $15 annual streaming credit. No annual fee.

Citi Double Cash 300

Citi Double Cash


PoF Summary

The Citi Double Cash offers a flat 2% cash back on all purchases (1% when you buy, 1% when you pay). No welcome bonus. No annual fee.

 

Four Card Strategies:

Did you not read what I said about simplicity?!?

If you’re looking to carry four or more cards, it’s time to look beyond cash back cards to cards that offer travel rewards and other perks. You can find them here:

 

Chase 5 / 24

 

As you devise your cash back strategy, keep in mind the fact that Chase usually will not issue a new card to someone who has opened 5 new credit card accounts in the last 24 months (the 5 / 24 Rule).

Business cards from Chase, American Express and Citi Bank do not count, but most other business cards and personal cards do.

Note that while new Chase business cards may not count against your total, they typically will only approve you for a Chase business card if you have had fewer than five new accounts in the last two years.

Given this limitation, if there’s a chance you’ll apply for more than five cards in the next two years, I recommend starting with Chase cards.

It’s also a good idea to pick up no more than two or maybe three personal cards in a year. I also have a preference for certain business cards that will not count against your total.

Also, keep in mind that other banks will look at your total new accounts and you can be denied no matter how good your credit is. It’s not just Chase, but their limitations seem to be the most well-known and best-defined.

Other recommendations for managing multiple credit cards include:

  • Always autopay.
  • No companion cards.
  • Don’t carry a dozen cards.
  • Always pay your balance in full.
  • Don’t stress. Perfection is not required.

For rationale and more details, please read the tips section in my master post, Credit Cards for People Who Love Free Travel and Money.

 

Earn that Cash Back!

 

If you’re more interested in cards offering different perks like miles, hotel stays, and more, I can help you find a credit card that gives you what you’re looking for.

 

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36 thoughts on “The Best Cash Back Credit Cards in 2020”

  1. Pretty impressive and comprehensive list POF.

    I personally use 2 cards as my main staple. The one I use predominantly is the Chase Freedom Unlimited (1.5% cash back). My 2nd card is a Sam’s Club credit card which gives me I think 3% on stuff like restaurants so I use that one whenever I go out to eat.

    Although the points are great, it is sometimes better to ask if the vendor will give you a discount if you pay in cash (and it usually is a better deal than the point value lost). I have asked my orthodontist, dentist, and even the company that recently installed my front door, if they offer cash discounts and they all said yes and the amount saved was far and away more than the 3% surcharge they have to pay to credit card companies (so my guess is there are some other factors that make them want to give discount even beyond the fees credit card companies charge them (probably a hassle and time delay to get money from them).

    Reply
    • That last one is a great tip. I believe our orthodontist offered a 5% cash discount (for using both cash and paying up front).

      I’m using a Chase Freedom card in the 5% back categories and in the occasional instance when the merchant won’t take American Express. Otherwise, I’m using a Hilton Honors Ascend AmEx in an attempt to earn diamond elite status (after a $40,000 spend in the year — good for the rest of the year and the following year).

      Cheers!
      -PoF

      Reply
    • Sam’s Club Card pays:

      5% back for all gasoline purchases
      3% back for restaurant and travel purchases
      1% back on everything else

      Even with the Sam’s Club membership fee of $45 a year, this is deal that is hard to beat.

      Reply
    • The only problem when paying cash is that the merchant will not only avoid paying the CC fee, but they will also evade their tax, i find it annoying when I have to pay so much tax, and somebody else can just grab cash and put it their pocket as spendable cash. If your orthodontist is in 37% tax bracket, for every $100 you pay him in cash, he has successfully evaded $37 in tax plus whatever his state income tax is…

      Reply
      • That’s assuming everyone who accepts cash also chooses to commit tax fraud.

        Tax is owed on every dollar collected regardless of what format is used to pay. Cash makes it easier to commit fraud, but I wouldn’t assume your neighborhood orthodontist is collecting cash off the books.

        Reply
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  3. For savvy credit card users, you can get up to 5% cash back on ALL purchases by using the Chase Ink Cash business card and buying fee free Visa debit cash cards that you can use anywhere that accepts Visa cards.

    This is an incredibly timely post because currently, Staples is running a promotion where you can buy fee-free Visa cards until May 11. Just make sure to use the Chase Ink Cash or Plus card to get the 5% (or 5X reward points) bonus on office supply stores! That’s what I do and that’s how I rack up hundreds of thousands of points for every day spending.

    5% cash back is nice. But for the truly savvy credit card users, you can get a return of 10% (or higher) in travel rewards if you know how to redeem points for maximal value. 🙂

    Cheers!

    Reply
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      Reply
  4. To me the #1 cash back card for higher spenders is different. This would be the Alliant Credit Union Visa signature. It does have an annual fee of $95 – but the whole first year you receive 3% unlimited, then 2.5 % forever after. So even after the first year, if you spend 1600/mo, this will beat a no-fee 2% credit card after paying the $95 fee. And no hoops to jump thru, no hassles to consider.

    Reply
    • That is quite the deal. I don’t have the capacity to keep up with local or regional credit unions and the cards they offer, but if you can get > 2% cash back on a card, that’s a nice and simple one-card strategy.

      Best,
      -PoF

      Reply
  5. Great Post, We have found the Amex Blue preferred (only groceries), Costco (gas, restaurants, travel) and Fidelity (everything else) has been a great setup for us. Was happy to see each of them remaining among the top of the pack as we haven’t looked at optimizing this situation for a while.

    Reply
    • Looks like a great 3-card strategy, DZ!

      You’ve got to be a bit careful with the “grocery” category. If you buy most of your groceries from a Super Walmart or Target, that card won’t typically give you the 6% back. I’m not sure about “warehouse” chains like Sam’s or Costco, but my guess is those wouldn’t count, either.

      Best,
      -PoF

      Reply
  6. For travelers who want simple one company–Chase, 3 cards:
    1.Get the Chase Unlimited–get 3% bonus now, for up to 20k spending if don’t have. 1.5% after. Use for all NON travel, NON 5% category spending.
    2. Get Chase Freedom–use for 5% categories only, up to 1500 every quarter–this quarter–groceries. Get gift cards if don’t spend $1500.
    3. Get Chase Reserve–best, or Chase Sapphire. gives you access to Unlimited travel points. Reserve–gives you Primary rental coverage, and 3 pts/$ travel/restaurants, and 50% bonus on travel bookings on their site (50k points worth $750 in travel), $450 annual fee offset by $300 in travel credits yearly, so benefits cost only $150/year. Chase Sapphire–Car rental coverage is secondary to your auto policy, just 2pts/$ for travel/restaurant, and only 25% bonus on bookings (60k points worth $750 travel), costs $95/year. You can transfer ALL chase Unlimited or Chase Freedom points to Chase Reserve/preferred. You can also transfer to travel partners, including Southwest! I once traveled Chicago to Baltimore, 3 round trips for 21,000 points on Southwest–great deal, so only cost me 21k in Chase Unlimited points I transferred. A more normal one way flight on Southwest is 10-12k points–costs about $160, so points are bonus over cash. Because I transfer all Chase Unlimited and Freedom points to my Unlimited points, I find much more valuable than 2% double cash Citi card.

    Reply
    • I think you’re using ‘Chase Reserve’ and ‘Chase Sapphire’ when you mean ‘Chase Sapphire Reserve’ and ‘Chase Sapphire Preferred’, respectively. But the 3 card strategy is my current medium-term strategy. Have the first two and trying to decide between Reserve and Preferred.

      Reply
  7. 2% flat UNLIMITED cash back into an investment account with no annual fee. There is no other card that does this…why would not list the Fidelity rewards card at the top of this list?!?

    Reply
    • I think the Fidelity Rewards Visa Signature Card is a great card — the order is not meant to be a rank list. You may have noticed I also included it as part of a three card strategy.

      I think some people have hangups about starting a relationship with a new brokerage just because of a credit card — especially if they’re already using a different low-cost brokerage like Vanguard or Schwab. But I certainly recommend the Fidelity card to anyone.

      One advantage that Chase Freedom and Chase Freedom Unlimited cards have is that, when paired with a Chase Sapphire card, the points become more valuable. For example, all points earned with the Chase Freedom Unlimited are worth 2.25 cents when paired with the Chase Sapphire Reserve and used to purchase travel via the Chase portal. The first $20,000 charged to the Unlimited card are actually worth 4.5 cents each. Such pairings are beyond the scope of this article, in which I try to keep things simple, but you can do better than 2% back in certain situations.

      Cheers!
      -PoF

      Cheers!
      -PoF

      Reply
  8. I would also suggest the Citi DoubleCash card as a one-card option, or as the default card other than the ones that offer better bonus categories. The Citi DoubleCash offer 2% cash back on everything (1% at purchase and another 1% at payment) with no annual fee. Then you can use cards like the AmEx Preferred Cash for 6% on groceries and the Chase Freedom and Discover It for 5% cash back on rotating categories quarterly.

    Reply
    • Yes — that would work well.

      I have a friend that would constantly ask if the place we were at took Discover. The answer was usually “no,” and it became a running joke. I imagine that’s changed some by now. And I would hope he’s added another card to his collection by now!

      Cheers!
      -Pof

      Reply
  9. Great List!

    Have you ever deployed the Barclays Uber Visa credit card?

    4% dining/BARS!
    3% travel/hotels
    2% online shopping, Uber&Lyft
    1% everything else.

    Solid rewards for no annual fee.

    Reply
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  11. Hey wonderful post, you have explained everything very nicely. Each and every point is explained in a proper way so anybody could understand very easily. Your way of writing a post is very good and I can see by reading your post that you have a lot of experience in blog writing. I just have a small request, I have also written a blog post and it would be very helpful for me if you would just read it and tell me your views about it and suggest we ways to improve my post.

    Reply
  12. Copied and pasted from the linked post:

    “No Companion Credit Cards

    You will often be enticed to pick up a second card for a spouse on the same account with a bonus of points or miles that might be worth a small fraction of the welcome bonus.

    I advise against this.

    The better option is to apply for a new card under your spouse’s name and social security number, using household income on the application.

    By opening a new account rather than obtaining a companion card, you can get double the bonus for each card you choose to acquire. Would you rather have 55,000 Chase Ultimate Rewards points or 100,000 Chase Ultimate Rewards points?”

    You’re basically cheating yourself out of hundreds of dollars in welcome bonus points by getting a companion card rather than opening a new account — and a companion card DOES count as a new account anyway when Chase looks at how many accounts you’ve opened in the last two years. If the number is 5 or more, you won’t be approved.

    Best,
    -PoF

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  13. Hey Lief great summary. I actually have a plethora of cash back cards, a few of them have rotating 5% categories for which I use Evernote to keep track. I keep 3-4 credit cards in my wallet based on what is getting me the most cashback, but recently the amazon prime card is offering until 2/2021 4% cashback on restaurants, gas and drugstores! ends up right now I carry that card as well as the AMEX Preferred for groceries mentioned above.

    Also I always took advantage of opening a credit card to get the bonus rewards, and then 2 years later when the inquiries dropped off my credit report my debt to utilzation ratio was awesome which jacked up my credit score when I applied for a mortgage. Would be a great post idea for ya if you had a similar experience to mine.

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