My Cash Back Credit Card Strategy

I use three cash back credit cards in such a way to maximize the cash back I get from them.  The cards I have are as follows:
  • Discover It
  • Chase Freedom (VISA)
  • Citibank (MasterCard)

The Discover and Chase cards each have categories that earn 5% cash back that change quarterly.  The Citibank card offers 2% cash back on everything, 1% when you make charges and 1% when you make payment.  Discover and Chase also offer various percentages of cash back when you shop at online stores using links through their websites.

I keep track of the categories using the Note app on my iPhone, because I typically have it with me no matter where I go.  I take advantage of the quarterly categories and then pretty much use the Citibank card for everything else.  I’m not always good about remembering to check and see if the Discover or Chase cards offer a higher cash back percentage for shopping at online stores through their site.  I’m trying to do better on that front.  (I sometimes use Ebates for cash back rewards, but that's an entire different animal!)

I’ve thought about either switching to or adding a travel rewards card, but I’m not to the point I’m ready to make a commitment to that.  I plan to do more traveling in the future, but I’m not loyal to a particular airline or hotel chain.  So I’m not sure a travel rewards card would be a good fit for me.  I’ll play that one by ear as the next year unfolds.


Post a Comment

Popular Posts