So get one of the cards that offers 3% on everything / 2.5% and no international transaction fees, and just cash it out monthly or whatever? You’re not being cool or whatever, “my big brain is too full for such trivialities!” you’re just leaving >$100/mo on the table (for most households here) for literally zero effort beyond clicking "redeem" when you want it.

https://old.reddit.com/r/CreditCards/wiki/list_of_flat_cashb...

But credit card fees exist, and will exist regardless of what you choose. Just like filing for your tax return - you can either take the money or let the bank+merchant have it. But maybe you're just too busy to be bothered by reclaiming that money, too?

The amex "I pay $500/y for a 3% card with rotating quarterly 4% and 5% categories" shit though? Yeah, I agree, ain't nobody got time for that.

You need to spend $16,666 just to cover the $500 annual fee. That’s a lot for many people especially when many low end retailers don’t accept AmEx. As already state rewards cards are a subsidy for the rich, or at least for people who spend a lot.

Yeah $500/yr fee is ridiculous. I think my card is 1/4 of that and I’m sure I break even the first month since almost everything I pay for goes through that card. Utilities, cell phone bills, after school program fees (and before that daycare), all other recurring bills besides mortgage/car, restaurants, groceries, anything else I want or need to buy go through the same card. Always pay the balance in full each month no matter how painful.

Often the $500/year cards have near immediate rewards that cover the cost - if you use those rewards. For example, the CapOne X gives a $400 travel credit every year.

CSR is also $550 with a $300 travel credit that is not difficult to immediately redeem.

Consider the following...

If you conceptualize it as "Annual fee minus reward credits" it's far more reasonable than that. For example, Amex Platinum is $695/year, but the Walmart+ and Digital Entertainment credits are $395 combined. Compared to the next highest card in Amex's line - Gold @ $250 - this makes more sense that you might originally think.

There are no 3% cards (not even 2.5% CB cards, I believe) without some kind of “requirement”. The only 3% card in your linked list clearly requires $100k in assets tied up with that FCU. For now that MM interest rates aren’t total shit that might be ok, but it is something that must be considered.

2% is about the most you’re going to get “no strings”.

fair, I do the 2.5% (no international fees) and that does require keeping a $1k balance too... but that's doable. Although of course the value proposition of that has changed a bit now that CDs are paying >5%, too. But the extra 1% or so (on $10k/mo of transactions or whatever) does add up enough to make it more than worth it still, imo.

I respect that. FWIW I just use three cards:

1. Apple Card which is 2% back on all Apple Pay

2. Costco Visa that does 3% on restaurants and travel

3. Amazon prime visa, 5% back on Amazon and Whole Foods. (This is just saved to my Amazon account so I don’t have to think about it.)

It’s pretty easy to remember to use the Costco card at restaurants.

Yeah, I have a similar 'never think about it' plan. The Amazon one alone is huge if you buy a lot of stuff on Amazon and it ends up being completely transparent in usage.

Cool. Do what works for you.

For me I just sign up for a new credit card twice a year and then shift my normal spending to the new card, canceling the old one.

I usually get a week’s hotel stay for free or $1000 cash back for nothing more than taking 30 minutes twice a year to find the best card.

I'd be wary of this approach - either from issuers suspecting you are gaming the system, or the effect on your FICO score as the average age of your accounts decreases.

I might be totally off base, but this seems like it can't end well.

Two cards a year isn't even a blimp on most card issuers radar.

If you go to r/churning back a few years, people were getting 24 new cards a year. Open the card, buy $4,000 worth of gift certificates, claim the reward, close the card, repeat. It was insane the amount of effort people put into it.

Banks creates these rewards to incentivize people to open the cards. Chase did eventually put a limit of 5 cards in 24 months (a limit I have hit), but they just reject you for the card off the bat.

In terms of the credit score hit, it's minor. I've never had my score change by more than 5-10 points. I wouldn't do it if I was applying for a mortgage in the near term, but otherwise, it doesn't really change my score as 5-10 points doesn't change the band you're in.

Last I looked, I think there may be language in the cardmember agreement that exempts gift certificates and the like. E.g, this explicitly doesn't count and may get flagged for extra scrutiny.

I'm well aware of 5/24 -- I might suggest that if people are shuffling things around that much, they deal with Chase *first*, before looking at other issuers, just to be sure those applications don't get denied.

I think the round the world ANA ticket I got a few months ago for less than 10x face value was worth reading one The Points Guy article about how to use Amex points.

Indeed. If you have f-you money then sure, why mess around with points programs. But for the rest of us plebs, they can be incredibly rewarding.