Comment by silisili
2 days ago
One can do better.
As just a one card catchall, Robinhood does 3% on everything.
I'm one of those crazy maximizers with a drawer full of cards, and most purchases earn 5% or 6%.
2 days ago
One can do better.
As just a one card catchall, Robinhood does 3% on everything.
I'm one of those crazy maximizers with a drawer full of cards, and most purchases earn 5% or 6%.
The 3% is good, but you have to pay $5 a month, so equivalent $60 annual fee.
They have late fees and cash advance fees.
> most purchases earn 5% or 6%
I assume thats using the high end cards with fairly hefty annual fees, or category cashback.
Fair points.
> The 3% is good, but you have to pay $5 a month, so equivalent $60 annual fee.
It's $50 a year, which isn't nothing, but more than pays for itself with either the 3% IRA match or 1k free margin. Understandably, not everyone wants to invest, so point taken.
> I assume thats using the high end cards with fairly hefty annual fees, or category cashback.
The only one with a fee is Amex Blue Cash Preferred, which I use for 6% groceries. The rest are store cards(AMZ/WM) or free category cards(of which you can often get multiple, oddly enough). For example USBank Cash+ for 5% back on all utilities and electronics, year round. Then there are some that automatically just 5% your highest spend category.
That looks like a a crazy amount of cards. I carry exactly one debet card in my wallet (.eu) and use it for everything.
6 replies →
3% for $60 annual fee is not bad. AmEx has Blue Cash card with 6% back, but it costs $95 and only works for (some) grocery stores. So if you have a decent churn $60 is not bad. Of course, if you play these games you should never ever hold a balance or pay late (and using cash advance on credit card is always, always a bad idea!) so you can ignore those fees.