If you are looking to find out which credit card should I own in 2018 for best Cash back or Reward points. Here is my take on the best credit cards to own if you are spending in regular categories like Groceries/Super Market, Gas, Department stores, Dining and some Travel for year round categories.
American Express Blue Cash Card – Grocery/Super Market & Department Stores
This is the top card to own if you are frequent purchaser of Groceries, Gas and Department stores. They have two different types of cards depends on the amount you spend on those. Amex Blue Cash Everyday® Card and Blue Cash Preferred® Card.
Here is a quick table comparison on those two cards.
|Category/Offers||Blue Cash Everyday®||Blue Cash Preferred®|
|Bonus Offer||$150 Sign-up Bonus||$200 Sign-up Bonus|
|Annual Fee||No Fee||$95|
There is a limit of $6000 for Grocery/Super Market category to earn their bonus, after which it is 1%.
I would recommend choosing the Preferred if you are spending $200 Groceries in Super Market per month. If you are spending less than $150 at super market, there are ways to reach this limit if you add some Gift Card purchase from Super Market stores along with your regular purchase. Reason why I say $200 per month in super market is, only then you get $144 cash back in one year. Otherwise you will not make up their $95 Annual Fee. As this is the category that offers most cash back.
Earn $200 Back
after you spend $1,000 in purchases on your new Card in your first 3 months. You will receive the $200 back in the form of a statement credit.
Chase Freedom or Discover Cash back Card – Quarterly Rewards Good for (Mobile Payments, Gas, Grocery, Dining and Amazon)
Chase Freedom Quarterly Cash Back or the Discover Cash back card offers quarterly rotational categories. I prefer these cards as they offer 5% cashback and most of the categories are seasonal. Like, during holidays you get 5% on Amazon and Department stores. Summer time you get cashback on dinning and travel related categories. This makes easy 5% cash back for the purchases, but there is a limit of $1500 on those combined purchase per quarter.
Chase Freedom Unlimited – All Other Purchases 1.5% Cash back or Citi Double Cash Back
This comes handy if you are making more than $5000 in other categories, so that you earn at least $75 cashback with Chase or $100 with Citi. This is useful if you own Chase Sapphire cards. Otherwise you can totally skip this card. Read the comparison on these two cards here.
In conclusion, Amex Preferred, Chase Freedom and Discover would cover year round categories, if you are an average spending person for a family and not travelling much. Travel is totally a different category which has lots of options to choose.
You can also add the Costco or Sams credit cards if purchase in their wholesale for $200 or more per month. Remember, Discover and Chase does offer wholesale quarterly rewards once in a year. You can purchase their store gift cards to earn maximum 5% rewards.
- Sign up BonusEarn a $150 Bonus after spending $500 on purchases in your first 3 months from account opening.
- Introductory APR0% Intro APR on purchases and balance transfers for 15 months
- Regular APR15.99%- 24.74% Variable
- Click “APPLY NOW” to apply online
- Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
- Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate
- Enjoy new 5% categories each quarter like gas stations, restaurants and drugstores
- Unlimited 1% cash back on all other purchases – it’s automatic
- 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 15.99-24.74%. Balance transfer fee is 5% of the amount transferred, $5 minimum
- No minimum to redeem for cash back
- Cash Back rewards do not expire as long as your account is open
- No annual fee
Your Cash Rewards
- 5% Cashback Bonus in categories that change throughout the year like gas, restaurants, and more up to the quarterly maximum. Signing up each time is free and easy.See 5% Cashback Bonus calendar
- 1% Cashback Bonus on all other purchases—with no limit on how much you can earn.
- No Annual Fee
- 0% Intro Purchase APR for 14 months and then 11.99% – 23.99% Standard Variable Purchase APR.
- 0% Intro Balance Transfer APR for 14 months from date of first transfer, for transfers under this offer that post to your account by March 10, 2018 and then 11.99% – 23.99% Standard Variable Purchase APR.
- 3% of the amount of each transfer .