Author Topic: Best Cash Back credit cards and Sign-up Bonuses  (Read 3468 times)

Offline ExGingi

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Best Cash Back credit cards and Sign-up Bonuses
« on: May 06, 2019, 01:08:03 PM »
Didn't find a thread discussing CB cards and their sign up bonuses, so I figured I'll start one, as I find some of the sign-up bonuses (with some of the less commonly used issuers) quite compelling as a % of required spend. If anyone has experience, please add information on whether 1099 is issued for SUB and whether these are churnable.

Bank / Card                          SUB / Spend           Notes                         
US Bank Cash+$150/$500Interesting SELECTABLE rotating categories (e.g. 5% on Utilities); TERRIBLE online banking; CC holders eligible for no-monthly-fee Gold Checking Account (which makes redeeming CB faster)
TD Bank Cash Credit Card$200/$500Whopping 40% CB as SUB with low spend!!!
« Last Edit: May 06, 2019, 01:14:01 PM by ExGingi »
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Offline Mo2

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Re: Best Cash Back credit cards and Sign-up Bonuses
« Reply #1 on: May 06, 2019, 01:36:43 PM »
The big question is what do thou quality as a cash back card?
Chase Freedoms and Inks are advertised as cash back
Common sense is not a gift, it is a punishment.
Because you have to deal with everyone who doesn't have it.

Offline ExGingi

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Re: Best Cash Back credit cards and Sign-up Bonuses
« Reply #2 on: May 06, 2019, 01:43:49 PM »
The big question is what do thou quality as a cash back card?
Chase Freedoms and Inks are advertised as cash back

This is DDF, we don't care what it's advertised as, we care about what it is, and the value of the currency. Given the devaluations trend of mileage programs, Cash Back cards (Citi double cash back being the most often cited IINM) might present a compelling alternative, with absolute, non-subjective value, especially with generous SUBs!
I've been waiting over 5 years with bated breath for someone to say that!
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Offline Mo2

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Re: Best Cash Back credit cards and Sign-up Bonuses
« Reply #3 on: May 06, 2019, 02:13:08 PM »
This is DDF, we don't care what it's advertised as, we care about what it is, and the value of the currency. Given the devaluations trend of mileage programs, Cash Back cards (Citi double cash back being the most often cited IINM) might present a compelling alternative, with absolute, non-subjective value, especially with generous SUBs!
I may be wrong but it seemed to me that whenever the question was asked @Dan replied with buying GC from from places that get 5 MR per $.

I agree that points are continuing to be devalued and practically many if not most won't actually go through the hassle of buying GC's for various reasons.

So to your question, cards that I recently got with nice cash back in no particular order are

BoA cash back $200 after 1k spend with 3% cash back per quarter (capped at 2.5k?) on selected category including "online shopping"

Barclay arrival 70k SOB. AF waived 1st year. Gets 2ppd and points are valued at 0.1 when used as travel credit or to pay AF.

I also got (for use only on Amazon) the Amazon Amex Biz sub of $125 amz gc and 5% back at Amazon.

Common sense is not a gift, it is a punishment.
Because you have to deal with everyone who doesn't have it.

Offline ExGingi

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Re: Best Cash Back credit cards and Sign-up Bonuses
« Reply #4 on: May 06, 2019, 03:52:21 PM »
I may be wrong but it seemed to me that whenever the question was asked @Dan replied with buying GC from from places that get 5 MR per $.

I agree that points are continuing to be devalued and practically many if not most won't actually go through the hassle of buying GC's for various reasons.
That, along with the amount of minimum spend to get SUB.

The two cards I mentioned above have a high SUB / Minimum Spend ratio, and all transactions can be done without getting out of one's seat, including spend (in many cases, as the requirement is low) and cash out.

Quote
So to your question, cards that I recently got with nice cash back in no particular order are

BoA cash back $200 after 1k spend with 3% cash back per quarter (capped at 2.5k?) on selected category including "online shopping"
That's definitely a valid contender, though SUB/Minimum Spend ratio is 20%, compared to 30% for the US Bank and 40% for TD Bank (with a lower spend threshold).

Quote
Barclay arrival 70k SOB. AF waived 1st year. Gets 2ppd and points are valued at 0.1 when used as travel credit or to pay AF.
Nice SUB, but as a % of minimum spend, it's lower than all of the above. I don't know how fast one can cash this out if not using for travel. Not familiar.

Quote
I also got (for use only on Amazon) the Amazon Amex Biz sub of $125 amz gc and 5% back at Amazon.
Never heard of this one before. Looks interesting as an alternative to buying AMZ GC at 5 UR if one really only cares about the Cash Back, as 5 UR are definitely worth at least the same and definitely more for most on an objective basis.
I've been waiting over 5 years with bated breath for someone to say that!
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Offline Mo2

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Re: Best Cash Back credit cards and Sign-up Bonuses
« Reply #5 on: May 06, 2019, 06:21:35 PM »
Never heard of this one before. Looks interesting as an alternative to buying AMZ GC at 5 UR if one really only cares about the Cash Back, as 5 UR are definitely worth at least the same and definitely more for most on an objective basis.
Amazon has a Synchrony store card, Chase Visa card and Amex Biz card which all offer 5% Cashback for Prime members. See amazon.com/credit

Though 5 UR is definitely more valuable, one counter argument (in addition to most ppl not actually buying AMZ GC's at 5 ppd) is would you pay 0.01 per UR? You are effectively doing that when using a 5 UR card over 5% Cash Back
Common sense is not a gift, it is a punishment.
Because you have to deal with everyone who doesn't have it.

Offline Dan

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Re: Best Cash Back credit cards and Sign-up Bonuses
« Reply #6 on: May 06, 2019, 06:26:22 PM »
Though 5 UR is definitely more valuable, one counter argument (in addition to most ppl not actually buying AMZ GC's at 5 ppd) is would you pay 0.01 per UR? You are effectively doing that when using a 5 UR card over 5% Cash Back
Every day and twice on Sunday.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline ExGingi

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Re: Best Cash Back credit cards and Sign-up Bonuses
« Reply #7 on: May 06, 2019, 06:34:44 PM »
Every day and twice on Sunday.
That's it?

It's a no-brainer to buy guaranteed 1.5 cents for 1 cent (with CSR - which is a no-brainer card for anyone with travel needs).

But this is really taking things off-topic.

I am trying to compile a list of good CB cards to apply (and possibly keep), and possibly rank them by non-subjective SUB / Minimum Spend ratios.
I've been waiting over 5 years with bated breath for someone to say that!
-- Dan

Offline Dan

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Re: Best Cash Back credit cards and Sign-up Bonuses
« Reply #8 on: May 06, 2019, 06:35:22 PM »
That's it?

It's a no-brainer to buy guaranteed 1.5 cents for 1 cent.
Is there a better expression out there?
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

Offline ExGingi

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Re: Best Cash Back credit cards and Sign-up Bonuses
« Reply #9 on: May 06, 2019, 06:38:02 PM »
Is there a better expression out there?

Without a high school diploma?  ;)

Though I'm sure none of us would buy UR even for a fraction of that on Shabbos or YT.
I've been waiting over 5 years with bated breath for someone to say that!
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Offline Dan

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Re: Best Cash Back credit cards and Sign-up Bonuses
« Reply #10 on: May 06, 2019, 06:42:10 PM »
Without a high school diploma?  ;)

Though I'm sure none of us would buy UR even for a fraction of that on Shabbos or YT.
Luckily you can still buy on Friday and Saturday. Unless you're in Svalbard or Antarctica.
Save your time, I don't answer PM. Post it in the forum and a dedicated DDF'er will get back to you as soon as possible.

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Re: Best Cash Back credit cards and Sign-up Bonuses
« Reply #11 on: May 06, 2019, 06:51:11 PM »
Every day and twice on Sunday.
That's it?

It's a no-brainer to buy guaranteed 1.5 cents for 1 cent (with CSR - which is a no-brainer card for anyone with travel needs).
it's only a guaranty for those that use it.

For me, 
1. I dont sell points.
2. I don't have the Reserve (I have the CSP)
3. I have a tight income with expenses that need to be paid by cash
4. I have over 500k UR sitting and don't currently have the opportunity to spend it on travel or vacation.

Therefore, though I still accumulate UR for when I will B'eH have a usage, it doesn't provide me near the same value as @Dan so 5% hassle free Cash Back has great value.
Common sense is not a gift, it is a punishment.
Because you have to deal with everyone who doesn't have it.

Offline Mo2

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Re: Best Cash Back credit cards and Sign-up Bonuses
« Reply #12 on: May 06, 2019, 06:53:04 PM »
But this is really taking things off-topic.

I am trying to compile a list of good CB cards to apply (and possibly keep), and possibly rank them by non-subjective SUB / Minimum Spend ratios.
👍
Probably also add annual fee
Common sense is not a gift, it is a punishment.
Because you have to deal with everyone who doesn't have it.

Offline ExGingi

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Re: Best Cash Back credit cards and Sign-up Bonuses
« Reply #13 on: May 06, 2019, 07:05:53 PM »
it's only a guaranty for those that use it.

For me, 
1. I dont sell points.
2. I don't have the Reserve (I have the CSP)
3. I have a tight income with expenses that need to be paid by cash
4. I have over 500k UR sitting and don't currently have the opportunity to spend it on travel or vacation.

Therefore, though I still accumulate UR for when I will B'eH have a usage, it doesn't provide me near the same value as @Dan so 5% hassle free Cash Back has great value.

Correct. But even for a person like myself, that only travels when needed, I consider the CSR to have a $150 AF ($300 gets refunded with all kinds of travel), and some of the added benefits are definitely worth the price difference between the CSR and the CSP.

#4 is a problem I wish I would have (maybe), as REQUIRED family travel can easily eat up a lot more than that in a year, between kids travel for education, and travel required מדאורייתא.
I've been waiting over 5 years with bated breath for someone to say that!
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Offline gozalim

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Re: Best Cash Back credit cards and Sign-up Bonuses
« Reply #14 on: May 06, 2019, 08:03:52 PM »
I'm not sure I understand the specific allure of "SUB / Minimum Spend ratio" as the metric here.
If the discussion is for a (future) go-to spending card, then earnings rate should rule. even if you're looking for SUB action: is the HP not weighted in? wouldn't a better metic be "highest SUB below$1K/5K/whatever spend?

Offline ExGingi

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Re: Best Cash Back credit cards and Sign-up Bonuses
« Reply #15 on: May 06, 2019, 09:04:55 PM »
I'm not sure I understand the specific allure of "SUB / Minimum Spend ratio" as the metric here.
If the discussion is for a (future) go-to spending card, then earnings rate should rule. even if you're looking for SUB action: is the HP not weighted in? wouldn't a better metic be "highest SUB below$1K/5K/whatever spend?

Depends on churn rate.
I've been waiting over 5 years with bated breath for someone to say that!
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Offline tzifanya54

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Re: Best Cash Back credit cards and Sign-up Bonuses
« Reply #16 on: May 06, 2019, 09:05:42 PM »
Correct. But even for a person like myself, that only travels when needed, I consider the CSR to have a $150 AF ($300 gets refunded with all kinds of travel), and some of the added benefits are definitely worth the price difference between the CSR and the CSP.

#4 is a problem I wish I would have (maybe), as REQUIRED family travel can easily eat up a lot more than that in a year, between kids travel for education, and travel required מדאורייתא.
?
Someone had to ask...

Offline ExGingi

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Re: Best Cash Back credit cards and Sign-up Bonuses
« Reply #17 on: May 06, 2019, 09:20:56 PM »
?
Someone had to ask...
Is it that hard?
I've been waiting over 5 years with bated breath for someone to say that!
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Re: Best Cash Back credit cards and Sign-up Bonuses
« Reply #18 on: May 06, 2019, 10:38:13 PM »
Depends on churn rate.
you should have said so earlier! Maybe change thread title to Best Cash Back credit cards and Sign-up Bonuses for churning
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Best Cash Back credit cards and Sign-up Bonuses
« Reply #19 on: May 06, 2019, 10:44:39 PM »
you should have said so earlier! Maybe change thread title to Best Cash Back credit cards and Sign-up Bonuses for churning
Certain things go without saying on DDF (and possibly better left unsaid - or at least not fully spelled out).

I recall a story of @Dan educating some ladies in CLE that the real value is in the SUBs, rather than the spend. I guess either Dan or @TimT can provide link.

If there are enough CB cards with lucrative SUBs that are flying under the radar and not subject to various restrictions, there's some great value there.
« Last Edit: May 06, 2019, 10:47:45 PM by ExGingi »
I've been waiting over 5 years with bated breath for someone to say that!
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