Do yourself a favor and get an unlimited 2% cash back card
1% cash back is a thing of the past…
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I bet you used your credit card today.
Well, if not today, then probably it was yesterday! :)
I’d imagine also that you already have a credit card that rewards cash back for specific categories like: restaurants, gas, travel, etc.., and 1% cash back on all other transactions…
Well, not anymore, you shouldn’t use that card for the other transactions, instead, do yourself a favor and get an unlimited 2% cash back credit card.
Although, there aren’t a lot of options, I got you 4 cards -I personally use 2 of them-, and they all:
- Reward 2% flat unlimited cash back (no categories, no rotation, …)
- Post cash back monthly to your account
- With no annual fees
1. PayPal Cashback Mastercard -highly recommended-
- Pros: No minimum cash back redemption threshold. No foreign transaction fees.
- Cons: No support for digital wallets (like Apple Wallet).
2. Apple Card
- Pros: Cash back is redeemable daily to Apple Wallet. No foreign transaction fees.
- Cons: To get the 2% cash back, you need to pay using Apple Pay on iPhone or touchless. Works with iPhone only.
3. Citi Double Cash Card
- Pros: Supports digital wallets (like Apple Wallet)
- Cons: You earn 1% on purchases, and another 1% after paying for those purchases (arguably, this could be a pro more than a con!). With 3% foreign transaction fees.
4. Fidelity Rewards Visa Signature Card
- Pros: Supports digital wallets (like Apple Wallet)
- Cons: High threshold for cash back redemption ($1,250). With 1% foreign transactions fees.
Although having a card that gives 2% cash back instead of 1% might looks like a minor difference, it’s actually double the cash back you are currently earning (for other categories).
That’s why, I strongly recommend applying for one of the above cards, it adds up long term, not to mention the compounding effect.
Thank you for reaching this far 👏. You can also check my other article to learn how to even maximize cash back beyond 2%.
This article is for informational purposes only. It should not be considered Financial or Legal Advice. Not all information will be accurate. Consult a financial professional before making any major financial decisions.
