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You aren't getting 3-5% cash back unless you are using tons of different cards for different types of purchases and are also keeping within limits. There used
by jjeaff 6y ago
You aren't getting 3-5% cash back unless you are using tons of different cards for different types of purchases and are also keeping within limits.
There used to be a 3% cashback on everything card with no limit. Now 2% is the best and difficult for most people to get.
You can get 5% credit back with an Amazon Prime card but only on Amazon.
Most other 3% or more back are either limited to a niche category and/or capped. (Like 6% back on groceries, but only for the first $6k).
- pertymcpert 6y agoI imagine that spending is dominated by a few major categories, which you can find specific cards to cover. There are spending limits, but you can always get multiple cards. I do that with BoA, I have 2 basically identical credit cards, but each has a different bonus category set, or I can set both to use the same category like dining out. So unless you're spending like 200k net a year on life expenses, it's pretty easy to get the max returns.
- scarmig 6y agoYou can get a pretty good, simple system set up with Chase CSR and FU, supplemented with the Amazon card. Just have to remember to use the CSR for the relevant categories, which isn't that hard.
- bobthepanda 6y agoYou need to have a good credit score and be fairly well off to get a CSR though.