![]() streaming subscriptions, 3% cash back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%), 6% cash back on select U.S. Cardholders will earn the following rewards: 6% cash back at U.S. See rates & fees), some may find that the rewards structure more than makes up for the cost. While the Blue Cash Preferred® Card from American Express charges a $0 intro annual fee for the first year, then $95 (Terms apply. Blue Cash Preferred® Card from American Express This card smokes the Discover it® Cash Back with regard to cash-back earning with its lack of caps. After that, the fee will be 5% of each transfer (minimum $5). An intro balance transfer fee of either $5 or 3%, whichever is greater, applies to transfers completed within the first 4 months of account opening. After that, the standard variable APR will be 18.99% - 28.99%, based on creditworthiness. The card offers a 0% intro APR on balance transfers for 18 months. It offers 2% cash back on all purchases-1% when purchases are made and another 1% when they’re paid off, without charging an annual fee. The Citi® Double Cash Card is a great cash-back card for those who value simplicity. It has purchase protection, extended warranty protection, trip cancellation/interruption coverage, cell phone protection and a secondary auto rental collision damage waiver. The Freedom Flex is a much stronger offering when it comes to additional card perks. Intro balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days, after that either $5 or 5% of the amount of each transfer, whichever is greater applies. Similar to the Discover it® Cash Back, the Freedom Flex offers 0% intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 19.74% - 28.49% applies. ![]() When paired with a premium Chase card like the Chase Sapphire Preferred® Card or Chase Sapphire Reserve®, points earned from the Freedom Flex are even more valuable as they can be transferred to partners like Hyatt and United, redeemed with a bump in value through Chase Ultimate Rewards® for travel purchases or redeemed through Chase’s Pay Yourself Back program. The Chase Freedom Flex offers a welcome bonus: $200 bonus after spending $500 on purchases in the first 3 months from account opening. The Freedom Flex also doesn’t charge an annual fee. It offers 5% cash back on up to $1,500 in categories that rotate quarterly (requires activation), 5% on travel purchased through Chase Ultimate Rewards®, 3% on dining and drugstores and 1% on all other purchases. The Chase Freedom Flex℠ * is a top choice for a cash back-earning card. That means that at the end of the first year, this household would be awarded an additional $500.72 in cash back.ĭiscover it® Cash Back vs. In place of a traditional welcome bonus, Discover offers a cash-back match-meaning that the issuer doubles the rewards earned during the first year. This amounts to a total earnings of $500.72 per year. If all of that spending is put on the card, the cardholder would earn an additional $200.72. We estimated the remaining annual household credit card spending is $26,072. When maxed out, a cardholder can earn $300.00 from the bonus categories. Discover maxes out quarterly earnings bonuses at $1,500 per quarter (or $6,000 per year) after which the earnings rate drops down to an unlimited 1%. Government data, most families spend at least $1,500 per quarter on the bonus categories Discover consistently uses. The 70th percentile of wage earners bring in $107,908 annually and we base spending on that number. Forbes Advisor uses data from various government agencies to determine both baseline income and spending averages across various categories. To determine the rewards potential of the Discover it® Cash Back card we have to look at the bonus categories and calculate what an American household might spend in those areas. Cash back can also be redeemed directly at Amazon or PayPal. Redeeming RewardsĬash back can be redeemed for any amount, at any time in the form of a statement credit or electronic deposit. ![]() There's no minimum spending or maximum rewards. Categories have historically included gas stations, restaurants,, Target, grocery stores and more.Īdditionally, Discover will automatically match all the cash back earned at the end of the first year as a cardmember. Plus, earn unlimited 1% cash back on all other purchases – automatically. The Discover it® Cash Back earns 5% cash back on everyday purchases at different places each quarter up to a quarterly maximum of $1,500 in spending when activated. ![]()
0 Comments
Leave a Reply. |