December 18, 2020

Best Credit Cards For Cash Back Rewards

Best Credit Cards For Cash Back Rewards hey credit Warriors a credit shifu here and today we are going to be asking the question does the Capital One, saver card have the best signup bonus of any cash back card currently available and if you don't know the current signup bonus on the capital one saver is $500 after you, spend $3,000 in the first three months so it really is pretty high it's higher than a lot, of cash back cards which are generally in the 150 to 200 dollar range even 100 to $200 range and so we're going to be looking at some other competition.

What's available out there first, of all let's just take a look at the saver card itself so this card earns 4% back on dining and entertainment it earns 2% cash back at grocery stores and, 1% on everything else Capital One had built it as the credit. Card geared towards foodies and it's funny it when it came out it was only 3% on dining. Had no annual fee then the uber credit card came out and did 4% on. Dining cash back and sort of beat the saver so Capital One made some changes now it's 4% on dining but they did and a $95 annual fee which.

Is wave for the first year though so that's the capital one, saver and it's currently offering a $500 cash back signup bonus that's the current offer at the time of the shooting of this video so now let's look at some of the competition what else is competing, with this so in the sort of cash back card space you've got a couple of cards the Wells Fargo cash. Wise is giving out a two hundred dollar. Sign up bonus but the spending requirement is much lower it's a third of what the, saver requires so it's only 1,000 dollar spending required for that Bank of America cash rewards again that's a $200 cash back signup bonus and $1,000 in.

Spending so that's just a couple of other cash back cards there are others out there like the Amex blue every day also. Gives you a $200 sign up bonus. And but most of them are lower than that more in the terms of 150 to $100 sort of range now let's look at some cards that compete in a slightly different way so. The uber credit card offers 4% back on dining but. It does not have an annual fee that's where it competes the sign up bonus on the uber credit card is significantly lower. Though at just one dollars so bad sign up bonus but the kind of long-term advantage is there's no annual. Fee it's not just way for the first year is actually no annual, fee at all on the uber credit card there next we have the discover it card cashback match system okay so this is a kind of alternative style of signup bonus where they match all the cashback you. Learned in your first year so if you don't know the discover it very similar to the chase freedom, it has rotating quarterly categories so. You earn 5% cash back on $1,500 worth of spending per quarter so that's 75 dollars in cash back up for grabs every, quarter that would be 300 dollars in a year and then if you're getting that matched with the cashback match that's gonna. Be 600 dollars in your first yeah and of course that's just on the bonus category spending whatever you spend on top of that you'll be getting 2% although that's, not so significant because you could get 2% anyway on the city, double cash but you know the discover it card if you really max out the categories and this does take a lot more work right. Because you've got to show up at certain stores to max them out and stuff but if you do do.

It properly you get six hundred dollars in your first year 100, dollars more than the Capital One saver of course it takes 12 months to get it rather than six months there's a few chase cards I, want to mention so the chase ink business cash card actually does have a $500 sign up, bonus okay for $3,000 worth for spending the same deal as on the capital one saver, but because it's a business card we're not really comparing apples to apples okay but. It's not.

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