I have had many different credit cards over the years that have offered various incentives, points programs, rebates, and cash back schemes. The number one credit card that I have found is the American Express Blue Cash Card.
An Unexpected Source
Most of the time I have avoided American Express credit cards because they never seemed to offer much and always seemed to charge annual fees for their usage. American Express will still charge a great deal for some of their high end, business class cards. However, when I ran across the Blue Card, I could not believe the deal I was getting.
Maximum rebates, no annual fees
As far as I know, there is no one who has the kind of credit card deal that the Blue Cash Card offers and supplies. For the First $6500 worth of purchases, the Blue Cash Card holder receives 1.0 back on all purchases at grocery stores, drug stores, and gas stations and 0.5 everywhere else. That rate may not sound appealing, but after the $6500 threshold is reached, all purchases from grocery stores, drug stores, and gas stations receive a cash back boost to 5.0 , including the pre $6500 purchases. All other purchases have a cash back boost to 1.25 after the threshold, including all pre $6500 purchases. On top of these cash back rewards, there are no annual fees to cut into your savings. What is especially appealing is that there are no maximum amounts one can purchase except for one’s own credit limit to restrict or cap your cash back savings.
Make the Blue Card your main card
The key to maximizing your Blue Card rewards is to make the card one’s main credit card. Not everyone, of course, accepts American Express, but most merchants do, and certainly most grocery stores, drug stores and gas stations do, which is where a person can get the maximum rewards from the card.
Annual payoffs from the Blue Card
Many cash back programs require someone to reach a certain threshold before one is able to redeem rewards. The Blue Card has its own conditions that way, only its condition is not points based or cash based, but rather time based. The anniversary date of Blue Card approval is the day that the rebate is given. In others words, a person has to wait a year for the Blue Card payoff. But if a person views the annual wait in the same way a person waits for a certificate of deposit to mature, then the wait is not difficult to endure, and it is certainly worth the wait, particularly if you have made the Blue Card your primary credit card. One’s anniversary rebate can easily reach $500 or even more, depending on your spending habits. I can attest to this, because I gained a $500 rebate on my first anniversary date. No other card has come close to this kind of payback.
Take advantage of the savings
I hope you take advantage of this credit card option. You have to spend money anyway, so you might as well get the maximum savings on the money you spend.