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Cash Back vs. Points: Are We Playing the Wrong Credit Card Game?
Manage episode 415646454 series 2903767
#170: Chris makes a case for cash back in your credit card strategy based on some recent changes in the points and miles world. He goes deep on strategies for every spending category and shares his analysis of how to optimize points vs. cash back for the best ROI.
Link to Full Show Notes: https://allthehacks.com/cash-back-vs-points-credit-cards
Partner Deals
Mint Mobile: $15/mo for unlimited wireless on the nation's largest 5G network
Vuori: 20% off the most comfortable performance apparel I've ever worn
Superhuman: Free month of the fastest and best email with code ALLTHEHACKS
Bilt Rewards: Earn the most valuable points when you pay rent
1Password: Free 2-week trial of my favorite password manager
For all the deals, discounts and promo codes from our partners, go to: allthehacks.com/deals
All the Hacks
- Credit Card Optimization Tool v2 (w/ $10 Discount)
- All the Hacks Membership
- Credit Cards Page
Credit Cards Mentioned
Overall Spend
- Robinhood Gold Card
- Bank of America® Premium Rewards® Credit Card
- Discover it® Miles
- Chase Freedom® Unlimited
Higher Cash Back in 1-2 Categories
- U.S. Bank Cash+® Visa Signature® Card
- Citi Custom Cash℠ Card
- Bank of America® Customized Cash Rewards Credit Card
Rotating Categories
Dining/Restaurants
- Capital One SavorOne Cash Rewards Credit Card
- U.S. Bank Altitude® Go Visa Signature® Card
- American Express® Gold Card
Travel
- The Platinum Card® by American Express
- U.S. Bank Altitude® Reserve Visa Infinite® Card
- Wells Fargo Autograph Journey℠ Card
- Chase Sapphire Reserve®
Grocery/Supermarkets
- Blue Cash Preferred® Card from American Express
- AAA Daily Advantage Visa Signature ® Credit Card
- American Express® Gold Card
- Verizon Visa® Card
Internet/Cable/Phone Bills
Gas
Entertainment/Streaming
Drugstores
Rent
Office Supplies
Amazon/Whole Foods
Mobile Wallet:
Resources Mentioned
Wealthfront: Get $5k managed free & get a 0.5% APY boost
Copilot: Free 2 months access to my favorite personal finance app with code HACKS2
X (Twitter) post: Couple opened 26 credit cards in 2017 and earned 2M points
Full Show Notes
(00:00) Introduction
(01:55) Chris' Personal Points & Miles History
(02:48) 3 Big Changes to Chris' Credit Card Strategy
(04:29) How to Take Advantage of Transfer Bonuses to Book Flights
(11:49) The Basics of Cash Back
(12:50) Best Cash Back Cards for Overall Spend
(14:06) Cards for Higher Cash Back in Certain Categories
(15:11) Other Category Spend
(19:42) Best Cards for Dining
(20:40) Travel Category
(21:44) Uncapped Card for Gas
(21:56) Cards for Groceries
(22:26) Internet, Phone Bill, and Cable Category
(22:35) Chris' Revamped Card Optimization Spreadsheet
(26:35) Main Cards for Team Points Vs. Team Cash Back
(27:44) Chris' Analysis & Category Run Through
(33:42) The Biggest Takeaway on Cash Back
(36:24) Cards for Spending Categories Like Rent, Entertainment, and Office Supplies
(39:32) The Big Wrench: Welcome Bonuses
(41:58) The Points & Miles Game With Player 2
(43:14) Credit Card Issuer Rules for Welcome Bonuses
(48:03) Quick Summary and Chris’ Final Takeaway
Editor’s Note: The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
190 episodes
Manage episode 415646454 series 2903767
#170: Chris makes a case for cash back in your credit card strategy based on some recent changes in the points and miles world. He goes deep on strategies for every spending category and shares his analysis of how to optimize points vs. cash back for the best ROI.
Link to Full Show Notes: https://allthehacks.com/cash-back-vs-points-credit-cards
Partner Deals
Mint Mobile: $15/mo for unlimited wireless on the nation's largest 5G network
Vuori: 20% off the most comfortable performance apparel I've ever worn
Superhuman: Free month of the fastest and best email with code ALLTHEHACKS
Bilt Rewards: Earn the most valuable points when you pay rent
1Password: Free 2-week trial of my favorite password manager
For all the deals, discounts and promo codes from our partners, go to: allthehacks.com/deals
All the Hacks
- Credit Card Optimization Tool v2 (w/ $10 Discount)
- All the Hacks Membership
- Credit Cards Page
Credit Cards Mentioned
Overall Spend
- Robinhood Gold Card
- Bank of America® Premium Rewards® Credit Card
- Discover it® Miles
- Chase Freedom® Unlimited
Higher Cash Back in 1-2 Categories
- U.S. Bank Cash+® Visa Signature® Card
- Citi Custom Cash℠ Card
- Bank of America® Customized Cash Rewards Credit Card
Rotating Categories
Dining/Restaurants
- Capital One SavorOne Cash Rewards Credit Card
- U.S. Bank Altitude® Go Visa Signature® Card
- American Express® Gold Card
Travel
- The Platinum Card® by American Express
- U.S. Bank Altitude® Reserve Visa Infinite® Card
- Wells Fargo Autograph Journey℠ Card
- Chase Sapphire Reserve®
Grocery/Supermarkets
- Blue Cash Preferred® Card from American Express
- AAA Daily Advantage Visa Signature ® Credit Card
- American Express® Gold Card
- Verizon Visa® Card
Internet/Cable/Phone Bills
Gas
Entertainment/Streaming
Drugstores
Rent
Office Supplies
Amazon/Whole Foods
Mobile Wallet:
Resources Mentioned
Wealthfront: Get $5k managed free & get a 0.5% APY boost
Copilot: Free 2 months access to my favorite personal finance app with code HACKS2
X (Twitter) post: Couple opened 26 credit cards in 2017 and earned 2M points
Full Show Notes
(00:00) Introduction
(01:55) Chris' Personal Points & Miles History
(02:48) 3 Big Changes to Chris' Credit Card Strategy
(04:29) How to Take Advantage of Transfer Bonuses to Book Flights
(11:49) The Basics of Cash Back
(12:50) Best Cash Back Cards for Overall Spend
(14:06) Cards for Higher Cash Back in Certain Categories
(15:11) Other Category Spend
(19:42) Best Cards for Dining
(20:40) Travel Category
(21:44) Uncapped Card for Gas
(21:56) Cards for Groceries
(22:26) Internet, Phone Bill, and Cable Category
(22:35) Chris' Revamped Card Optimization Spreadsheet
(26:35) Main Cards for Team Points Vs. Team Cash Back
(27:44) Chris' Analysis & Category Run Through
(33:42) The Biggest Takeaway on Cash Back
(36:24) Cards for Spending Categories Like Rent, Entertainment, and Office Supplies
(39:32) The Big Wrench: Welcome Bonuses
(41:58) The Points & Miles Game With Player 2
(43:14) Credit Card Issuer Rules for Welcome Bonuses
(48:03) Quick Summary and Chris’ Final Takeaway
Editor’s Note: The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.
190 episodes
All episodes
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