Tracking the best cash rewards credit cards and optimizing our spending with each of the credit cards that pay cash rewards is a passion dear to my heart. It’s also a fun game to play!

With a constant changing landscape of cash rewards credit cards you always have to be on your toes to make sure you’re earning the most cash back on your purchases.

Current Cash Rewards Credit Card Plan

Here’s what our current strategy looks like based on our purchases.

American Express TrueEarnings Costco. We use our Costco card for 3% cash rewards on gas and restaurants, besides using it at Costco. If you don’t have one, you can get the costco sign up bonus for opening a new account.

Discover More Card. I’ll be dusting off our Discover More card for 5% cash rewards on gas starting in July. The cash rewards rotate, so we have to stay on top of the quarterly schedule. If you don’t have one, it’s a great time to sign up since they give you a $50 Sign Up Bonus, and you should be able to get it before July.

Chase Freedom. We’ve had a Chase Freedom for as long as I can remember. Chase also switched to a 5% cash back on quarterly categories that you have to remember to enroll in. They’re currently offering 5% on drugstore purchases through June.

2% Cash Rewards Credit Card

For the rest of our purchases, we use our Schwab credit card. Since they stopped accepting new applications for their 2% cash back credit card, if you didn’t get one, you’ll have to get the Fidelity Credit Card instead for 2% cash back.

Other Cards

We also have some old credit cards that pay 4% cash rewards for wireless service and groceries, but they’re long gone. Getting grandfathered into old programs is one of the best reasons we’ve kept so many of our credit cards open (of course the other reason is for the 0% balance transfer deals!)

Which are your favorite cash rewards credit cards right now?



If you're looking for a new credit card, be sure to check out our credit card directory!





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Comments to Maximize Your Cash Rewards Credit Cards

  1. Like you, I use the same AMEX card for gas, dining and Costco purchase. 3% on gas and food is the highest there is. I also use the Chase card which has monthly bills assigned to it. Initially was getting 2% but that dropped to 1% but I do like the 5% bonus offers they have like it is for Discover. The special for both is with home and garden stores will get you 5% back. Perfect time since I have lawn work to do. For personal purchases, I use the Fidelity 529 card which I get 2% back.

    Wayne

    • Wayne, I forgot about our Fidelity 529 card. We have that one too and I rotate it with the Schwab card.

      Another great one that isn’t open to new applicants anymore!

      Madison

  2. My favorite card is my Schwab 2% cash back card. I love that there is no limit and no confusing rules to remember. 2% cash back on everything and credited each month. My second favorite credit card is from my credit union.

    Single Guy Money

  3. I like to use my discovercard for their rewards. I normally get 1% back on all purchases, but if I shop online through their shopping portal, I can receive additional 5-10% cash back. I have a second card i use for gas only, chase mastercard, which gives me 3% cash back on all gas purchases. They recently launched a shopping portal like discovercard but i like discover program better.

    MGL


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