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Cash-Back and High-Reward Credit Cards

Unlike the beginner “get-out-of-debt” personal finance ranters, I’m actually a fan of responsible credit card use: they can help you raise your credit score, they offer purchase and consumer protections you can’t get anywhere else, plus they automatically track your purchases and provide healthy amounts of cash-back rewards each year as well. Just be sure to use them in a Mustachian way.

This page provides links to applications to a host of competing cards which you can compare, to see which work best for your situation. You’ll want to pick cards that offer at least something useful, since that is the standard these days – there is no need to sign up for a credit card that offers you nothing.

Which one gives me $500?
The Chase Ink Bold business card. You’ll see the recipe for that one below, plus some for various personal cards in the $400s.

You can click on the dropdowns in the following tool to learn more.

Quick recipes to my own favorites:
sapphireIssuer -> Chase -> Chase Sapphire Preferred: a $400 signing bonus(!) and no fee for the first year. I also like that there is no foreign transaction fee on international purchases when I travel. They disguise the bonus as 40,000 “points”, but you can redeem them for a mailed check or an immediate statement credit, which is what I did myself with this particular card last year.

 

 

ink_boldIssuer -> Chase ->(next page) -> Ink Cash or Ink Bold: very good business cards – I used Ink Cash for my own LLC. Then I got a second Ink Bold for the real estate division of the company. This netted me a second $500 bonus, which actually became $625, because I redeemed those points for some plane tickets we were about to buy anyway (the rewards are worth slightly more towards travel than when redeemed as a statement credit.) Added bonus: no foreign transaction fees on Bold.

 

 

amexIssuer->American Express->Blue Cash Preferred $100 signing bonus, plus 6% back on groceries, 3% on gas, 1% on everything else. There is a $75 annual fee for the Amex, but if you use it as your “groceries and gas” card, you should get back about $400/year in cash back (assuming your annual grocery bill approaches the $6000 limit). This makes it a profitable addition to the wallet.

 

 

costco

Issuer -> Amex -> Show all -> search for Costco This TrueEarnings Costco Amex has some useful features, especially for those who travel a fair amount.

 

 

 

simplycashIssuer -> Amex -> Show all -> SimplyCash Business: $250 signing bonus, 5% back on office supplies and 3% back on the category of your choice up to $25k in spending, 1% thereafter.

 

 

Barclay Arrival World Mastercard: This is quite a badass travel card, with $400 signing bonus, double miles on all purchases, and no foreign transaction fees.
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quicksilverIssuer->Capital One->Next->Quicksilver One 1.5% back on all purchases with no limits. Assuming you crank $24k annually through your card, this card delivers $360/year of cash back, versus the $240 you’d get with a standard 1% reward card. The $120 difference is enough to justify the $39 annual fee. The margin of benefit increases for higher spenders.

Remember to watch out for annual fees – many of the cards have no fees, but some of the highest-paying ones start charging after the first year. Do the math to make sure you pick a card that is optimal for your situation.

Other notable cards include: Chase Slate (no balance transfer fee and 0% APR for 15 months).

 

Related Article – Gaming the System – with Rewards Credit Cards


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