Best CreditCards that offer more than 1% cashback

destruct05July 23, 2014

I am looking for a credit card that offers more than 1% cashback (no points). Also, not for one that offers 5% in some rolling categories.

So far I found some that do 1.5% for everything or the Amex blue with 6% at grocery, 3% at gestation.

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christopherh

Just remember, the merchants are paying that extra percentage, not the Credit card companies.

As a result, prices are higher for everybody to cover those costs.

    Bookmark   July 24, 2014 at 6:51AM
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greg_2010

So the customer is actually paying that extra percentage, not the merchant.
But ... the customer has to make more money in order to cover the cost of that extra percentage ... so the customer's employer is actually paying that extra percentage.
But ... the employer will have to make more money in order to pay his employee more, so the employer will have to charge more for his company's services. And so on and so on.
:)

In other words, who is ultimately paying is irrelevant. The fact is, you pay the same at the store whether you are using cash, credit with no cash back, or credit with cash back. So the individual is better off using a card that has the max cash back. The person who pays cash is on the losing end of the deal.

And all of this is irrelevant to the original question. :)

destruct05, I think you've probably already found the best options. Go for the one that you feel best with.

    Bookmark   July 24, 2014 at 12:11PM
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SnidelyWhiplash

I agree with Greg. The price is already adjusted, so you're paying more in a way if you DON'T use a credit card with a reward program.

There are some gas stations with dual pricing in my area - Cash price and Credit price. I will always drive on and find another station, I never patronize them.

    Bookmark   July 24, 2014 at 12:20PM
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christopherh

And I go to the cash pump every time.

    Bookmark   July 26, 2014 at 7:12AM
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annkh_nd

Not everyone takes Amex.

I don't mind the quarterly 5% on my Discover card. I check my statement on-line anyway, so it isn't an inconvenience to sign up every 3 months. I just did a quick check, and for me, the quarterly 5% program calculates to about 1.5% overall.

And I like their gift card redemption, where you redeem $40 of cash back bonus, and get a $50 gift card (sometimes more). Now my bonus amount is 1.8%.

The AmEx Blue that gives 6% on groceries and 3% on gas has a $75 annual fee. The no annual fee Blue card is 3% on groceries, 2% on gas and some department stores, and 1% on everything else.

    Bookmark   July 29, 2014 at 1:27PM
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davidrt28 (zone 7)

"Just remember, the merchants are paying that extra percentage, not the Credit card companies. "

They aren't paying an "extra" percentage. They pay a percentage fee for accepting any credit card. For cashback programs, your card issuers essentially shares some of that fee with you.

    Bookmark   July 31, 2014 at 9:09AM
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annkh_nd

I assume that the cashback bonus comes from the high interest rates those cards charge. I have been paying my cards in full every month for decades, but I suspect I am more the exception than the rule.

    Bookmark   July 31, 2014 at 1:18PM
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