Note: This post was written in 2012 by the previous owner of this blog.
Capitalizing on credit card rewards is such a simple task, that I’m surprised by the number of people who don’t do it. For those who do, I’m surprised by the low returns they’re getting when there are so many options out there. I will outline my credit card strategy below:
1. American Express Blue Cash Preferred
Earn 6% cash back at supermarkets.
Earn 3% cash back at gas stations and department stores.
Earn 1% cash back on all other eligible purchases
Now, this one has a $75 annual fee, but it more than pays for itself with the amount of groceries that we purchase. Additionally, the grocery stores now have a ton of gift cards to other stores, so if you know you’ll be spending $500 at home depot, buy the gift card at the grocery store and get 6% back ($30). You can also buy gas cards at the grocery store for 6% back on gas. Our store also has Chili’s gift cards, Macy’s gift cards….all will get 6% back.
2. Chase Freedom
Earn 5% cash back on bonus categories each quarter
Earn 1% cash back on everything else
We use this card only for the quarterly bonus. For the 1st quarter of 2012, they are offering 5% back on gas and Amazon.com purchases.
3. Fidelity Investment Rewards American Express Card
Earn 2% back on all purchases
There is no annual fee so we use this for everything that doesn’t fit within the strategy of the cards above.
Its been a while since I’ve searched for better options, so are there any cards out there with better rewards?