- no annual fee
- no rotating categories
- high rewards in major spend categories
- cash back redemption
- churning signing bonuses
- niche card benefits
- point:mile transfer value
We'll take a look at the following most popular cards that fit the above criteria
- Citi Double Cash
- Chase Freedom Unlimited
- Bank of America Cash Rewards
- Bank of America Travel Rewards
- Uber Visa
- PNC Cash Rewards
- Costco Anywhere Visa
- Sam's Club Mastercard
- All purchases (not covered by the below categories)
- Travel (i.e. flights, hotel)
- Dining
- Gas
- Groceries
| Card Name | All | Travel | Dining | Gas | Groceries |
|---|---|---|---|---|---|
| Citi Double Cash | 2% | 2% | 2% | 2% | 2% |
| Chase Freedom Unlimited* | 1.5 - 2.25% | 1.5 - 2.25% | 1.5 - 2.25% | 1.5 - 2.25% | 1.5 - 2.25% |
| BoA Cash Rewards* | 1 - 1.75% | 1 - 1.75% | 1 - 1.75% | 3 - 5.25% | 2 - 3.5% |
| BoA Travel Rewards* | 1.5 - 2.63% | 1.5 - 2.63% | 1.5 - 2.63% | 1.5 - 2.63% | 1.5 - 2.63% |
| Uber Visa | 1% | 3% | 4% | 1% | 1% |
| PNC Cash Rewards | 1% | 1% | 3% | 4% | 2% |
| Costco Anywhere* | 1% | 3% | 3% | 4% | 1% |
| Sam's Club Mastercard* | 1% | 3% | 3% | 5% | 1% |
The Chase Freedom Unlimited gives you a base 1.5% in Ultimate Rewards points. These points can be normally redeemed at 1 cent per point, but if you get the Chase Sapphire Preferred or Reserve cards, you can get a 25% or 50% redemption bonus respectively when booking travel. Many people plan on getting the Reserve card at some point, so spending on the Freedom Unlimited card can be worth up to 2.25% back.
The Bank of America suite of cards have a redemption bonus depending on your Preferred Rewards status. Preferred Rewards status can be achieved by maintaining a total cash plus investment balance with Bank of America and Merill Edge. Simply having a Bank of America checking or savings account gives you a flat 10% bonus. A $20,000 balance gives you Gold status which has a 25% bonus, $50,000 gives you Platinum status which has a 50% bonus, and $100,000 gives you Platinum Honors status which has a whopping 75% bonus. Note for the Cash Rewards card, the bonus is applied at time of redemption as opposed to purchase, so if you plan on achieving one of these tiers in the future, the bonus is worth considering now when choosing that card.
The Costco and Sam's Club cards are great, but require a membership with the respective warehouse store. If you already shop at these locations, it's definitely worth taking a look. Otherwise, it's probably not worth the membership fee just to get these cards.
We've written a simple calculator for you to determine which combination of cards is optimal for your spending needs.
How much do you spend (e.g. yearly) on your credit cards in the following categories?
What version of the Chase Sapphire card do you plan on holding?
Which tier of the Bank of America Preferred Rewards do you plan to have?