The Best of Credit Card Rewards Programs

I thought I'd also mention that you can use this credit card rewards calculator to help determine the optimal mix of cards for your entered spending profile:
http://www.creditcardtuneup.com/

For the Sallie Mae 5 Percent card, does anyone happen to know if they categorize Meijer stores as a "grocery store" eligible for the 5% cash back? (I looked for details of which stores or merchant category codes are categorized as "grocery stores", but couldn't find any details.)

Thanks in advance.

Quote from joelmeu : For the Sallie Mae 5 Percent card, does anyone happen to know if they categorize Meijer stores as a "grocery store" eligible for the 5% cash back? (I looked for details of which stores or merchant category codes are categorized as "grocery stores", but couldn't find any details.) Thanks in advance.

You can use this tool [infonow.net] to help determine it.

What about if you have a spectacular credit score, always pay full outstanding balances and *don't* care about sign up fees or annual fees as long as you're overall getting a greater benefit?

Basically , are there even better credit card rewards programs if you're willing to put up with a sign up fee or an annual fee?

Quote from SP33DFR34K : You can use this tool [infonow.net] to help determine it.

Thanks! I hadn't seen that tool before.

It looks like Meijer is categorized by Visa under merchant category code 5411 which means "GROCERY STORES/SUPERMARKETS/BAKERIES". So, it would seem that Meijer would qualify for 5% cash back under the Sallie Mae 5% card. I've had trouble with Meijer earning "grocery store" category rewards in the past, even with Visa cards. This is a good sign though. Thanks again!

Quote from sachind1231 : What about if you have a spectacular credit score, always pay full outstanding balances and *don't* care about sign up fees or annual fees as long as you're overall getting a greater benefit? Basically , are there even better credit card rewards programs if you're willing to put up with a sign up fee or an annual fee?

The only superior program I know of is for groceries. The AMEX Blue Cash Preferred will pay you 6% cash back on groceries, but it has a $75 annual fee. To my knowledge, for all the other categories cited in the original post, those are the best reward percentages you can get. However, if you factor in sign up bonuses (e.g. "$200 bonus after spending $500", "30,000 miles after spending $750", etc.) then, for the first year, there are cards that can net you a higher reward percentage in those categories, but, for year two and beyond, the deals cited in the original post are some of the best out there.

Note that there are other reward categories not mentioned in the original post for which you can do better than 2% rewards. For example:

• Airfare: You can earn 5% rewards on airfare with the PenFed Premium Travel Rewards American Express® Card
• Music, Movies, Video Game Rentals, and Sporting Events: You can earn 5% rewards in those categories with the MTV® Visa® Card From Capital One®
• Office Supplies, Cellular Phone Service, Land Line Phone Service, and Cable Services: You can earn 5% cash back on those categories with the New Ink Cash Business Card (have to sign up for the card as a business).

Quote from joelmeu : For the Sallie Mae 5 Percent card, does anyone happen to know if they categorize Meijer stores as a "grocery store" eligible for the 5% cash back? (I looked for details of which stores or merchant category codes are categorized as "grocery stores", but couldn't find any details.) Thanks in advance.

If you look at the terms and conditions gasoline is included as well as groceries. The redemption is at $25 for statement credit or check

Quote from Lightbulb : If you look at the terms and conditions gasoline is included as well as groceries. The redemption is at $25 for statement credit or check

Thanks. That's good to know.

Although, it looks like the 5% only goes up to $500 in combined groceries and gas spending per month; after that it's 1% for those categories for the rest of the month. Since I usually get to about $500 in groceries each month, I'd probably funnel all grocery spending through the Sallie Mae 5% card and then funnel all gas spending through another card like the PenFed VISA Platinum Gas / Cash Rewards Card.

Please update the main article to point out that the Sallie Mae $500 grocery/gas limit is per statement/billing period...if not for the other posters I would assume this is annually or quarterly given Discover Cards meager 5% limits, which have recently improved... Thanks.

If I go for the offers like 300 cash back after spending 500 in 3 months, and cancel the card with in one year, do I compramise on my credit ratings?

Quote from xplosion79 : If I go for the offers like 300 cash back after spending 500 in 3 months, and cancel the card with in one year, do I compramise on my credit ratings?

Just applying usually causes your credit to take a hit, but will recover in a couple of months. Canceling also does, but will take much longer to recover. There are many other factors like age of accounts, current credit you have, etc that could affect how long it takes to recover.

Priceline credit card also offers 2% cash back on everything!

https://www.juniper.com/apply/Leg...id=0001202

I am looking to start getting into credit cards but wonder how long it takes for credit to recover if I start 3 new ones and leave them open. This matters because it will effect time-line for buying a house. Are we talking 2 months or 6? Thank you.

Is there a minimum credit score to sign up for the cards above / where would I find that?

How about Amex Blue Cash Preferred? Amex Site [americanexpress.com]
It is the BEST CARD EVER ............. for "diligent" SDers.

It gives 6% on groceries purchases (excluding superstores and warehouse club)

If your local grocer allows you purchase giftcards with your Amex, you will get 6% cash reward.
No card can top that.

One of my grocery has amazon, ebay, best buy, nike, restaurants, staples, etc. You get the idea, right?

I already racked up about $350 in cash reward in 6 months. Had I been more diligent I could have easily racked up $1000+ in cash reward.

And there is no limit on cashback like other cards mentioned here.