For the past four or five years, the best credit cards to rack up rewards quickly have not exactly been conducive to current calls for social distancing. The best cards have been those that earn the best category bonuses: cards like the Chase Ink Cash (5x office supply stores), the Chase Freedom or Discover IT card (rotating 5x / 5% categories), the US Bank Altitude Reserve (3x mobile payments like Apple Pay or Google Pay) or the Chase Sapphire Reserve (3x travel & dining) have been some of the best cards to carry for day-to-day spend. But those category bonuses generally assume that you’re spending money in person. Given a desire for distance, which cards should be near the top of your wallet today?
Credit cards that bonus online purchases
While online shopping had long ago become part of the fabric of our lives, there is no doubt that it is also becoming the glue that keeps everything together right now. With all non-essential businesses in my home state of New York now closed for the foreseeable future to encourage social distancing, online shopping has become a go-to option for many.
The “best” card for online shopping is debatable, but these are cards worth consideration if you’re spending a lot of money online:
Bank of America Cash Rewards
| Card Offer and Details |
|---|
No Annual Fee Information about this card has been collected independently by Frequent Miler. The issuer did not provide the details, nor is it responsible for their accuracy. Earning rate: With Platinum Honors Preferred, 5.25% back on your choice of the following: gas and EV charging, online shopping, cable, streaming, internet & phone plans, dining, travel, drugstores, home improvement & furnishings (can choose a new category monthly). ✦ 3.5% back at grocery stores & wholesale clubs ✦ 1.75% back everywhere else. 5.25% and 3.5% rewards are capped at $2500 in combined purchases per quarter Base: 1.75% Travel: 5.25% Dine: 5.25% Gas: 5.25% Grocery: 3.5% Shop: 5.25% Phone: 5.25% Other: 5.25% Card Info: Visa Signature issued by BOA. This card has no foreign currency conversion fees. |
The Bank of America Cash Rewards card earns 3% back on your choice of the following: gas, online shopping, dining, travel, drugstores, home improvement & furnishings (you can choose a new category monthly). The card also earns 2% back at grocery stores and wholesale clubs, but you won’t want to bring it out grocery shopping: you only earn the increased rates on the first $2500 in cumulative spending per quarter — counting spend in both 2% and 3% categories. You can do better than 2% at the grocery store, so don’t bother using up your $2500/mo bandwidth there.
This card really shines if you have Platinum Honors with Bank of America. That requires putting $100K on deposit with Bank of America (in cash or investments, including retirement accounts). If you’re able to do that, you get a 75% bonus on earnings on the Bank Of America (non co-brand) credit cards. Therefore, instead of 3% back, you’d earn 5.25% back on up to $2500 in purchases per quarter (as shown above). That’s $131.25 back per quarter if you max it out — not a bad return on a no-fee card. On top of the current welcome offer, that could make for a nice return for online spend.
Rakuten Visa
| Card Offer and Details |
We more or less called the Rakuten Visa dead to us a month ago when it stopped paying out the additional 3x for online gift card purchases, but if you have the card in your wallet already it may be ready for a resurgence.
They key benefit on this card is that it earns 3x on purchases made when clicking through the Rakuten shopping portal — which can be taken as Membership Rewards points instead of cash back. As we’ve pointed out in previous posts and podcasts, this isn’t quite as exciting as it sounds on the surface — that’s only 1x more than you could earn with the Blue Business Plus (which earns 2x on the first $50K in purchases per year, then 1x), and the Blue Business Plus earns that return whether or not you shop through Rakuten.
Still, with Rakuten occasionally offering the best payouts (and with increased payouts on “essentials” through at least the end of the month and maybe longer), you may already be shopping through Rakuten. In that case, 1x more adds up over time.
Also keep in mind that the Rakuten Visa is one of the relatively few cards that still offers price protection (up to $500 per claim, up to $2500 in claims per year). That could come in handy.
Affinity Cash Rewards
| Card Offer and Details |
|---|
$150 cash back ⓘ Non-Affiliate $150 cash back after $3K spend in first 90 daysNo Annual Fee Information about this card has been collected independently by Frequent Miler. The issuer did not provide the details, nor is it responsible for their accuracy. FM Mini Review: The Affinity Cash Rewards Visa Signature card could be really interesting for its rotating categories since the fine print indicates that it stacks on top of ordinary earnings. Earning rate: 5% back at all bookstores, including Amazon (note: this is capped at $1000 in purchases per month) ✦ 2% back at restaurants, gas stations, supermarkets, Netflix, Spotify, Uber and Lyft. Base: 1% Dine: 2% Gas: 2% Grocery: 2% Other: 5% Card Info: Visa Signature issued by AFCU. This card has no foreign currency conversion fees. Noteworthy perks: No foreign transaction fees; cell phone protection |
Last but not least, the king of Amazon might be the Affinity Cash Rewards card. This card offers 5% back at all bookstores, including Amazon.com. While the Amazon Prime Visa also offers 5% back at Amazon, it is issued by Chase and therefore subject to the 5/24 rule. The Affinity card does not require Prime membership and it also offers rotating bonus categories.
An interesting thing about the rotating categories on the Affinity Cash Rewards card is that they offer 5% on top of the normal card earning for the quarterly bonus categories. Since restaurants ordinarily earn 2% on this card and they are the 5% rotating category bonus through the end of March, that means this card has been earning 7% at restaurants. Q2 is gas (already a 2% category, so it will be 7% total) and Q4 will be bookstores (already a 5% category, so they should become 10% for Q4).
Credit cards with rotating categories
During certain quarters, cards with rotating 5x categories may offer bonuses for online shopping (or something like PayPal, which can be used to pay for online purchases in many cases). In other quarters, they may bonus grocery stores or gas stations. If you’ll already be visiting a grocery store or gas station, you may be able to load up on gift cards for websites where you shop. Additionally, some grocery store chains sell gift cards online without needing to visit the store at all.
Likely your best choices for rotating categories are the Chase Freedom and Discover IT.
Chase Freedom
| Card Offer and Details |
|---|
None This card is no longer availableNo Annual Fee Information about this card has been collected independently by Frequent Miler. The issuer did not provide the details, nor is it responsible for their accuracy. FM Mini Review: Great for 5X categories. Good companion card to Sapphire Reserve, Sapphire Preferred, or Ink Business Preferred. Earning rate: 5X Lyft through March 2025; 5X in rotating categories on up to $1,500 spend per quarter (Q4 2024: McDonalds, PayPal, Pet Stores & Selectr Charities). Card Info: Visa Signature or Platinum issued by Chase. This card imposes foreign transaction fees. Noteworthy perks: Free DashPass for up to 3 months upon activation ✦ $10 quarterly Instacart credit ✦ 3 months free Instacart+ See also: Chase Ultimate Rewards Complete Guide |
Discover IT
| Card Offer and Details |
|---|
$100 Back + First Year Double ⓘ Friend-Referral Get $100 after first purchase. All cashback earned in first 12 months will be doubled including 5% earned in rotating categories. No Annual Fee Information about this card has been collected independently by Frequent Miler. The issuer did not provide the details, nor is it responsible for their accuracy. FM Mini Review: This is a great choice for its rotating 5% categories Earning rate: 5X in rotating categories, up to $1500 spend per quarter (Q4 2024: Amazon & Target) Base: 1% Grocery: 5% Shop: 5% Other: 5% Card Info: Discover issued by Discover. This card has no foreign currency conversion fees. Noteworthy perks: Discover Cash Back is worth more than face value when redeemed for partner gift cards |
Credit cards that bonus office supply stores (good for buying gift cards)
Similar to grocery stores and gas stations, office supply stores like Staples and Office Depot sell gift cards to many stores, so you may be able to eke out 5x / 5% on many of your current shopping needs via gift card purchases from office supply stores. While an unnecessary in-person stop at an office supply store might be inadvisable for you at the moment, keep in mind that Staples and Office Depot do sell third-party gift cards on their websites.
For office supply purchases, you’d want the Chase Ink Cash.
Chase Ink Cash
| Card Offer and Details |
|---|
Up to 75K points ⓘ Affiliate 35K after $3K spend in 3 months and an additional 40K points after $6K spend in 6 months. No Annual Fee Alternate Offer: If you have a household member with an Ink card, you may prefer the referral offer whereby the referrer can earn 40,000 points and the new account holder can earn 75,000 points after $6,000 in purchases in the first 3 months since it will yield more total points. Recent better offer: 90K after $6K spend in 6 monthd (expired 1/17/24 FM Mini Review: This one should be in everyone's wallet. Incredible welcome bonus for a no-annual-fee card. Great card for 5X categories. Excellent companion card to Sapphire Reserve, Sapphire Preferred, or Ink Business Preferred. Click here for our complete card review Earning rate: 5X office supplies and cellular/landline/cable (on up to $25,000 in total purchases in 5x categories annually) ✦ 2X on the first $25K in combined purchases at gas stations and restaurants each cardmember year ✦ 5X Lyft through March 2025 Card Info: Visa Signature Business issued by Chase. This card imposes foreign transaction fees. See also: Chase Ultimate Rewards Complete Guide |
Credit cards that bonus groceries
With fewer meals out / business lunches / evening events, kids not eating lunch in school, and the difficulty of social distancing from the refrigerator when you’re working from home, I imagine that the bulk of spending for most of us has shifted to groceries.
If you’re looking to apply for a new card for grocery purchases, our Best Category Bonuses page shows that you should consider the Wells Fargo Rewards Visa or the Wells Fargo Visa Signature as either of those cards offer 5x on up to $12,500 in combined purchases for gas, grocery, and drugstore purchases for the first 6 months. That could equal up to 7.5% back on groceries depending on how you use the points.
However, if you’re looking for a long-term keeper, my top pick right now would be between two Amex cards.
Amex Blue Cash Preferred
| Card Offer and Details |
|---|
$250 back ⓘ Affiliate $250 cash back as reward dollars that can be redeemed as a statement credit or via Amazon.com after $3K spend in eligible purchases within the first 6 months. Terms Apply. (Rates & Fees)$0 introductory annual fee for the first year, then $95 FM Mini Review: Solid cash back option (cash back given in the form of a statement credit), especially for those who spend a lot at US Supermarkets and US gas stations Earning rate: ✦ 6% cash back as a statement credit at US supermarkets up to $6,000 per year in purchases (then 1%) ✦ 6% Cash Back as a statement credit on select U.S. streaming subscriptions. ✦ 3% Cash Back as a statement credit on transit (includes taxis/rideshare, parking, tolls, trains, buses and more). 3% cash back as a statement credit US gas stations ✦ 1% cash back as a statement credit on other purchases ✦ $7 monthly statement credit on Disney Bundle subcription of $12.99 or more. Enrollment required. ✦ Terms apply. Base: 1% Travel: 3% Gas: 3% Grocery: 6% Shop: 3% Other: 6% Card Info: Amex Credit Card issued by Amex. This card imposes foreign transaction fees. Noteworthy perks: Terms Apply. (Rates & Fees) |
This card has a $95 annual fee but offers 6% back on up to $6K in purchases per year at US Supermarkets (then 1%). Spending $115.39 per week every week (times 52 weeks per year) would max out the 6% category at $360 cash back. After accounting for the $95 annual fee, that’s still a net 4.42% back if you don’t spend in any other categories.
However, the card also offers 6% back on streaming services. In an era of social distancing, that could help mitigate the annual fee. The reason that I included this card over the Everyday Preferred card is because the Everyday Preferred requires 30 transactions per month to earn the best return, whereas the Blue Cash Everyday does not include that hoop through which to jump.
Amex Gold Card
| Card Offer and Details |
|---|
75K points + 20% back at restaurants ⓘ Non-Affiliate 75K points after $6K in purchases in the first 6 months + 20% back at restaurants for the first 6 months up to $250 back. Terms apply. (Rates & Fees)$325 Annual Fee Information about this card has been collected independently by Frequent Miler. The issuer did not provide the details, nor is it responsible for their accuracy. Recent better offer: 100K after $6K in the first 6 months + 20% back at restaurants for the first 12 months up to $250 back [Expired 11/10/24 - referrals only] FM Mini Review: This card offers an awesome return on US supermarket and worldwide dining spend, putting it at or near the top-of-class in both categories. Dining credits and Uber / Uber Eats credits go a long way towards reducing the sting of this card's annual fee. Earning rate: 3X points for flights booked with airlines or on amextravel.com ✦ 4x points at US Supermarkets (up to $25K in purchases, then 1x) ✦ 4x at restaurants worldwide (up to $50k in purchases, then 1x) ✦ 1X points on other purchases. Terms apply. (Rates & Fees) Card Info: Amex Pay Over Time Card issued by Amex. This card has no foreign currency conversion fees. Noteworthy perks: Up to $10 in statement credits monthly with participating dining partners (Goldbelly, Wine.com, Five Guys, Seamless/Grubhub, The Cheesecake Factory) ✦ $10 monthly Uber or Uber Eats credit (use it or lose it each month - must select Amex card as payment method to redeem) ✦ $7 monthly Dunkin' credit ✦ $50 twice-annual Resy credit ✦ $100 hotel credit on qualifying charges on stays of 2 nights or longer, plus a room upgrade upon arrival, if available with The Hotel Collection at americanexpress.com/hc ✦ Enrollment required for select benefits. |
The Amex Gold card offers a pretty compelling 4x at US Supermarkets on up to $25K in purchases per year (then 1x). That’s a great return if you do enough supermarket spend to exceed the caps on the Blue Cash Preferred or Everyday Preferred. The kicker is the higher annual fee.
However, I imagine that many people are now making use of the $10 monthly credit that can be used at Boxed.com or Seamless / GrubHub. While Boxed.com has been out of stock of some of the higher-demand home essentials recently, they still stock enough to potentially be useful (particularly if you can stack with an Amex Offer and/or good portal rate).
Depending on how highly you value those credits and how much you spend in the 4x categories, it may be your best bet even if you don’t make use of the $100 annual airline incidental credit.
Credit cards that offer useful credits
Noted above, the Amex Gold card offers both an airline incidental credit and a monthly $10 credit that can be used for food delivery from Seamless / GrubHub or for orders from Boxed.com. While airline incidental credits aren’t particularly useful for most of us at the time being, several other cards also offer other types of credits that could be useful to many at the moment.
Platinum Card from American Express
| Card Offer and Details |
|---|
100K points + 10X on dining ⓘ Non-Affiliate 100K points after $8K spend in 6 months + 10x on dining for 6 months (on up to $25K in purchases). Terms apply.$695 Annual Fee Information about this card has been collected independently by Frequent Miler. The issuer did not provide the details, nor is it responsible for their accuracy. FM Mini Review: This card is absolutely loaded with high end perks. Depending upon your situation, those perks may be worth the annual fee or much more. Earning rate: 5X points for flights booked directly with airlines or with American Express Travel ✦ 5X points for prepaid hotels booked through American Express Travel Card Info: Amex Pay Over Time Card issued by Amex. This card has no foreign currency conversion fees. Noteworthy perks: Up to $200 a year in statement credits for incidental fees at one qualifying airline per calendar year ✦ $200 prepaid hotel credit per calendar year valid on Fine Hotels & Resorts and The Hotel Collection bookings ✦ Up to $20 per month rebate for Disney+, a Disney Bundle, ESPN+, Hulu, The New York Times, Peacock, and/or The Wall Street Journal ✦ Up to $120 Global Entry/TSA Precheck fee reimbursement.✦ $15 monthly Uber or Uber Eats credit ($20 in December, use it or lose it each month) ✦ $199 CLEAR (R) Plus fee credit per calendar year ✦ $12.95 (+tax) monthly credit for Walmart+ monthly membership subscription credit when you pay with Platinum card ✦ Up to $100 in credits annually for purchases at Saks Fifth Avenue (up to $50 in credits semi-annually) ✦ Priority Pass membership (Lounges only) with 2 guests and other airport lounge benefits (Centurion and Delta) ✦ Rental car elite status ✦ Marriott Gold status ✦ Hilton Honors Gold status Enrollement required for some benefits. Terms Apply. (Rates & Fees) See also: Amex Platinum Guide |
The Amex Platinum (various personal / consumer versions) offers a monthly Uber credit. That credit can be used toward UberEATs for those ordering delivery.
Chase Sapphire Reserve
| Card Offer and Details |
|---|
60K Points ⓘ Affiliate 60K after $4K spend in 3 months$550 Annual Fee Alternate Offer: 70K after $4K spend showing on some accounts when logged-in to Chase Recent better offer: Expired 12/1/22: 80K after $4K spend FM Mini Review: Excellent all-around card for frequent traveler. Best when paired with no-fee Chase Freedom Flex, no-fee Freedom Unlimited & no-fee Chase Ink Cash Click here for our complete card review Earning rate: 10X hotels & car rentals booked through Chase Travel℠ ✦ 10X Chase Dining ✦ 5X flights booked through Chase ✦ 3X Travel and Dining ✦ 10X Lyft (through March 2025) Card Info: Visa Infinite issued by Chase. This card has no foreign currency conversion fees. Noteworthy perks: $300 Annual Travel Credit ✦ Points worth 1.5 cents each towards travel when booked through the Chase Travel(SM) Portal✦ Transfer points to airline & hotel partners ✦ Primary auto rental coverage ✦ Priority Pass Select lounge access ✦ Access Sapphire Lounges for yourself and 2 guests for free ✦ Access select Air Canada Maple Leaf lounges when flying Star Alliance ✦ Up to $120 Global Entry fee credit ✦ Free DashPass through 2027 See also: Chase Ultimate Rewards Complete Guide |
While I wouldn’t recommend applying for the Chase Sapphire Reserve just for its DoorDash credit, it’s worth keeping in mind that the CSR is offering a $60 credit on DoorDash purchases this year and another $60 next year.
Uber Visa
| Card Offer and Details |
The Uber Visa offers a $50 subscriptions credit when you spend $5,000 in a year. This credit works on stuff like Netflix, Hulu, Amazon Prime, etc — but it only kicks in in year 2. Those who spent $5K on the card last year are likely happy with a $50 credit on subscriptions right now.
Credit cards good for everywhere else
Finally, there’s the “everywhere else” card. Your best bet for an everywhere else card is to see our Best Everywhere Else Rewards Card resource page. Still, my top two recommendations wouldn’t necessarily be the top two on that page. I’d go with either:
Bank of America Premium Rewards (with Platinum Honors)
| Card Offer and Details |
|---|
$95 Annual Fee Information about this card has been collected independently by Frequent Miler. The issuer did not provide the details, nor is it responsible for their accuracy. Earning rate: With Platinum Honors status with Bank of America's Preferred Rewards program, earn: 3.5X travel and dining ✦ 2.625X everywhere else Base: 2.625% Travel: 3.5% Dine: 3.5% Card Info: Visa Signature issued by BOA. This card has no foreign currency conversion fees. |
If you have Platinum Honors with Bank of America, I think the Premium Rewards card is a strong contender despite not being at the top of the list on our everywhere else page. That’s because at 2.625% back everywhere without a cap or time limitation (assuming you have Platinum Honors), it makes the opportunity cost of collecting points on the other everywhere else cards feel high. If you choose to earn 2 Membership Rewards points per dollar or 2 Thank You points per dollar instead of 2.625% back, you’re giving up 1.3125 pennies for every point you earn. Are you a buyer of those points at that price? If you have a specific use in mind or are collecting for a high-value reward, you might be. But with future travel a bit up int he air, cash may be king for you.
However, if you’re confident that this too shall pass and life will return to normal, I think it becomes a tough call. The Discover IT Miles card essentially earns 3% back for the first year when used toward travel. Alternatively, the Blue Business Plus and Citi Double Cash each offer opportunities to earn points that can be even more valuable.
If I had to pick one everywhere else card and wanted flexibility, I’d probably go with the Double Cash.
Citi Double Cash
| Card Offer and Details |
|---|
20K points ⓘ Non-Affiliate $200 cash back after spending $1.5K in first six months. Note: $200 is awarded as 20,000 ThankYou® Points.No Annual Fee Information about this card has been collected independently by Frequent Miler. The issuer did not provide the details, nor is it responsible for their accuracy. FM Mini Review: 2X rewards for all spend with no annual fee makes this card a winner. Earn 2X everywhere and redeem for the equivalent of 2% cash back or 2X ThankYou points. Pair with the Premier or Prestige card to make points transferrable to airlines. Click here for our complete card review Earning rate: 2% cash back everywhere (1% cash back for each purchase + 1% when paying your credit card bill for that purchase). ✦ For a limited time: Earn 5% total cash back on hotel, car rentals, and attractions booked on Citi TravelSM Portal through 12/31/24. Base: 2X (2.9%) Card Info: Mastercard World Elite issued by Citi. This card imposes foreign transaction fees. Noteworthy perks: 1X when you make a purchase + 1X when you pay for those purchases ✦ 24 month extended warranty See also: Citi ThankYou Rewards Complete Guide |
The reasons why I’d go with the Double Cash above the rest of the options are:
- The floor redemption is 2% cash back (1% when you buy and 1% when you pay the bill). That’s a good rate and it’s straight cash back that requires no other cards in your portfolio, no large amount on deposit with the bank, and no annual fees.
- If travel does resume to normal, this card can easily be paired with a Citi Premier or Prestige card to transfer to partners. With the Turkish Miles & Smiles sweet spots for flights on United and for travel to/from Europe, the Middle East, and parts of Africa, I think the ability to earn an uncapped 2x everywhere is strong (and of course there are other good transfer partners as well)
- It’s a Mastercard, which makes for wider acceptance (and means it can be used for more types of Plastiq payments and to earn points in places where Amex won’t).
Of course, there are a number of other cards on the Best Everywhere Else Rewards Card page that are also worth consideration.
My ideal quarantine wallet credit cards
Based on the above recommendations, this is my ideal wallet during this time:
- Bank of America Cash Rewards with Platinum Honors (5.25% online purchases on up to $2500 per quarter)(no annual fee)
- Amex Gold (4x US Supermarkets up to $25K per year, then 1x + useful $10 monthly credit that I’d use via Boxed right now. While I’m not currently ordering any takeout, I know many other folks are and 4x from restaurants is also compelling)($250 annual fee)
- Chase Ink Cash (5x office supply stores, to be used for buying gift cards for things like gas stations and streaming services at 5x if I run out of bandwidth on the Cash Rewards card)(no annual fee)
- Citi Double Cash (everywhere else)(no annual fee)
That 4-card solution would ensure that I’d earn 4x or better on most purchases from home and 2x on those that don’t fit the big categories. The single $250 annual fee should be mitigated by the earnings and benefits, but if that were a big put-off, the Blue Cash Preferred could be substituted for 6% back on up to $6K at US Supermarkets (then 1x) for a $95 annual fee.
If I wasn’t going to get Platinum Honors with Bank of America, I’d probably take a shot at the Affinity Credit Union Cash Rewards in place of the BOA Cash Rewards card for 5% back at Amazon (and maybe 10% back later this year along with 7% back at gas stations from April through June).
Bottom line
Whether you’re looking to rotate the best cards into your starting lineup while stuck at home for a while or you are looking to draft a new lineup altogether, you’ll likely need to make some adjustments over tried-and-true strategy to accommodate what I imagine is a significant shift in spend. The good news is that there are a lot of no-fee cards that could be strong components of a wallet balanced for social isolation — several of which don’t rely on this ending in a specific quarter for you to continue to earn well on spend. Since many of the options above carry no annual fee, they may be even more appealing given the current economic uncertainty. The good news is that you can still earn significant rewards from your couch while cutting back on costs as best you can.
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You mention $10 credit at boxed using gold amex. Is this true/proven?
What’s your next article?
Best plastic to pay for funeral expenses?
Amex Gold is actually on the chopping block for me. The $250 fee and airline credit are large deterrents at this time. Given that the Grubhub pickup options near me are limited (and delivery isn’t offered where I live) that benefit feels like a monthly scramble. I have other grocery cards that while at a lower rate, have less hassle to use. Being it’s a charge card, I won’t have to worry about reapplying in the future if it makes sense.
As an added note, it appears boxed.com is not taking orders at this time.
That’s fair.
Not sure why you got the impression that Boxed.com is not taking orders at this time? I just filled up a cart and went through to the final checkout page. Looks like it works. There is a note that there may be a 4-day delay in processing/shipping, but that’s on par with everyone else right now it seems.
Boxed.com must have had a temporary issue sending to my area and I needed to clear cache/ open in incognito to see it normally.
Disregard that comment.
Spending is going to be extremely low across the board. That will make obtaining bonuses and Meeting minimum spend more difficult.
If you’re going to open a card, the Amazon Prime Visa Signature (by Chase) would be a good option. As of this writing, you get a $100 Amazon gift card just for signing up. And there’s no need to meet minimum spend. But the card is subject to 5/24. A lot of people shop on Amazon because they don’t want to or can’t leave their homes; this card would be very useful.
Amex has the Amazon Business Prime card, which offers a $125 Amazon gift card just for signing up. If you spend $3000 in the 1st 3 months on the 2% (restaurants, gas, and wireless service) and 1% (everything else) categories, you’ll get a $100 statement credit. The card also offers the option of 0% APR on Amazon, AWS, Amazon Business, and Whole Foods purchases for the 1st 90 days. But you have to forgo the 5% cash back on those categories during that time. This is a business card and should not appear on your personal credit report. Amex lets you redeem rewards for a statement credit, but there is no mention of redeeming for cash back. Chase, on the other hand, gives you the option to redeem for cash back (or statement credit).
I mentioned the Prime card. I won’t disagree that there is a segment for which it will make sense. On the other hand, the Affinity card doesn’t require you to have a Prime membership to get 5% back and isn’t subject to 5/24 (so is the option for those who are over).
For those under 5/24 though, I have a hard time recommending the Prime card over other Chase cards. The Freedom card, for instance, offers $200 cash back after spending $500 in the next 3 months. Even with spending down, I imagine most people will spend that much over the next 3 months. Furthermore, with quarterly bonuses often working at places that sell Amazon gift cards, one could still get an effective 5% back at Amazon by purchasing Amazon gift cards.
The business card is a total lemon in my opinion. Two percent as a bonus category is useless when there are no-fee cards that earn 2% everywhere. There are a number of cards on the market that offer 0% APR for the first 12 to 15 months on all purchases — if it’s 0% APR you’re looking for, getting it for only 90 days and only on Amazon purchases is far from your best option. If you don’t need the 0% APR, most would be better off with the Chase Ink Cash, which offers 5% back at office supply stores (where you could easily buy Amazon gift cards to meet your 5% Amazon needs) and a $500 welcome bonus after $3K spend. Unless you spend far beyond $25K per year at Amazon, you’ll likely come out well ahead with the Ink Cash’s much bigger welcome offer and the ability to earn 5x on those gift cards.
Earning bonuses is secondary right now. The best credit cards are the ones with the contactless feature.
I don’t see any mention of 5% rotating categories on the Affinity site.
Here’s a link:
https://www.affinityfcu.com/special-offers/hi-5.aspx
You just have to go to the “credit cards” section of their website to find that link.