Here’s the closest replacement for the Schwab card that meets your criteria: Sallie Mae 2% Cash Back Credit Card & $100 Sign Up Bonus

I need a Visa or Mastercard that gives back highest % in cash (or transfers money to an investment account) like Schwab did.

I don’t want higher % for just gas or certain purchases. I want 2% (or as high as possible) for all purchases.

I purchase a lot so no ceiling on cash back.

I also have a 2% AmEx, but I can’t use it for some purchases, so I need a Visa or MC.

Spencer

I haven’t had much trouble with my Amex card getting accepted recently, but there was one store that wouldn’t.

I don’t use Cap One cards at all. Never have. Although my Sony card recently converted to Cap One, so now I do have one (that I don’t use).

I’m guessing the lower rating might be due to the way they reported to the credit bureaus. They used to report high balances without credit limits, which raised the utilization percentage and hurt people’s credit scores. I believe that is why many consumers had a distaste for Capital One.

I’m still searching for a replacement card for you. I think I found one, but I want to check out all the terms first. Then I’ll get back to you!

My concern with the AmEx is it’s not as accepted as Visa or Mastercard. I only carry one card so I need something that’s accepted everywhere.

From what I can see, the Capital One Cash back card is the best deal for me. It’s 1% on all purchases, plus a 50% annual bonus on all cash back earned the previous year. This makes it in effect a 1.5% cash back card.

The Fidelity card requires a Fidelity account, and I already have accounts at Vanguard. I don’t have a problem with Fidelity, but don’t really want to open a new after-tax account that pays no interest (money market) or an account that may lose money (short term bond fund) just to get their credit card.

I’m conservative with my money. All my non-retirement money is in CDs and checking paying anywhere from 2.0 to 4.0%. My retirement money is more aggressive, but still only about 30% in stocks, 40% in bond funds and 30% in variable annuities that pay a set return, currently 3%.

The Capital One card is rated lower than Chase, AmEx Blue etc. What am I missing? I’m not interested in the revolving 5% because it has limits ($1500 groceries in 3 months) or it is for stuff I don’t buy. I use the credit card for normal purchases, groceries, gas, clothes, monthly bills such as phone, TV etc. I charge around $40k/year. I’m not interested in airline miles or home improvement stores.

I would appreciate your thoughts.

Thanks.

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