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You Should Be Getting At Least 2% Back on Every Purchase

This site will mainly focus on taking advantage of huge credit card sign up bonuses, but I feel like it’s first important to make sure everyone isn’t missing out on 2% cash back on every purchase they made. When I see someone use a debit card to buy something at a store, a little piece of me dies inside. Using a debit card gets you 0% cash back and that’s just not cool. Don’t do that to yourself.

There are many credit cards out there that give you 1% back on all purchases, and some of them like the Chase Freedom have 5% cash back in rotating spending categories. But there’s no reason you shouldn’t be getting at least 2% back on every single thing you buy. To get it, you just need one of the following cards:

Capital One Venture: This one not only gives you 2% back on every purchase, but there’s a 50,000 point bonus if you spend 3K in the first 3 months. You can’t redeem points for straight cash back, but it’s basically the same thing. 50,000 points is worth $500 in statement credits toward travel purchases and many things fall into the travel category. There also seems to be a nice glitch where you can keep redeeming points for the same purchase over and over again. There is a $95 annual fee that is waived for the first year. After the first year, you would need to make the call on whether to cancel or switch to one of the other cards below. But this card is certainly worth getting for at least a year.

Fidelity Rewards Visa Card: I’ve had this card forever. No annual fee plus 2% on everything is a beautiful thing. This one also isn’t a true straight cash back card as they won’t mail you a check, but it’s quite simple. You just need some kind of free Fidelity account and after you accrue $50 in rewards, you transfer it to your Fidelity account and from there you can cash out. Note there is no signup bonus on this one.

Citi Double Cash: This one gives you 1% on all purchases and then another 1% as you pay for those purchases. So a complicated way of saying 2% on everything. Also no annual fee and you can redeem cash back for a check or statement credits.

The takeaway: Stop using your damn debit card and get one of the cards above. As long as you can hit the 3K spend in 3 months, I’d go with the Capital One.

Bonus: If you already have a 2% card and you are just here for huge bonuses, well I certainly respect that. My friend Dan reminder me today of one of the best ones currently out there. The American Airlines Aviator card. You get 50,000 AA miles after making one purchase. Yes, just one purchase. You do need to pay the $95 annual fee on your first statement, but used wisely, the 50,000 AA miles are worth at least $750. That’s a damn great deal for about 5 minutes of work: 2 mins to apply and 3 mins to drive to the nearest 7-Eleven and buy a pack of gum.

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