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What is the best cash-back card for a bigger spender?
I spend about $60,000 annually on things that are cl***ified as "all other purchases". Based on my research, I believe that the Sam's Club Discover Visa card will earn me the most cash-back. Check out he following breakdown. But I want to double check to make sure if anyone here knows of a card that will perhaps give me even more cash-back.
Up to $1,500 0.25%
$1,500.01 - $3,000 0.50%
$3,000.01 - $5,000 1.00%
$5,000.01 - $10,000 1.75%
$10,000.01 - $1,000,000 2.00%
So
First $1,500 Rebate amount: $3.75
$1,500.01 - $3,000 Rebate amount: $7.5
$3,000.01 - $5,000 Rebate amount: $20
$5,000.01 - $10,000 Rebate amount: $87.5
$10,000.01 - $60,000 Rebate amount: $1,024
Total rebate amount: $1,142.75 minus $100 (Sam's club membership fee)= $1,042.75
Thanks alot for your advice.
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Have you considered the Blue Cash? While 2% above $10k looks good, you might want to check out how it looks if you breakdown your spending. I suspect using a combination of cards may also work better. Tell me your results when you use our calculator :
You can check it out here :
http://www.askmrcreditcard.com/cashb...alculator.html
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I will have to use other cashback credit cards for my grocery, gas and utility but for "other purchases" I believe the Sam's club discover card offers better cashback then Blue Cash, but only drawback is you must cash the cheque at a Sam's club.
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1. PenFed CashRewards Platinum Visa - 5% gas at pump, 2% - groceries, 1.25% - everything else. No AF, CL is reported, EQ hard pull
2. Chase Freedom = 3% back on 12 categories, 1% every thing else. No AF, signature version does noteport CL, most likely EXP hard pull.
3. Amex Blue Cash - 5% back on gas, 1.5% on everuthing else. Must spend at least 6k a year, no AF, reports CL, most likely EXP hard pull.
4. HSBC Weekend Card. 1% back when used Mon through Fri, 2% back Sat and Sun. No AF, may pull all three CRA.
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