Best Cash Back Credit Cards May 2023

[yankees60]

Best Cash Back Credit Cards May 2023

https://www.kiplinger.com/personal-fina ... BA6D7D0DC7

Did a few unsuccessful searches in the forum to find existing discussions on this topic but kept getting error messages after long waits on those searches.

I presently actively use three of the recommended cards.

For ALL Amazon purchases: Amazon Rewards Visa Signature Card

As am Amazon Prime member LOVE that 5% rebate on all Amazone purchases!

For all Walmart purchase (not that many): Capital One Walmart Rewards® Mastercard®

For all other credit card transactions: Citi® Double Cash Card

Just applied for these two: Farmers Insurance Federal Credit Union Crystal Visa

As the article states .. long application process. By far the longest I've ever experienced.

Wells Fargo Active Cash® Card

Waiting to see if I get approved.

Also applied for this one: Blue Cash Preferred® Card from American Express.

But got a response saying I could not be approved at this time and will get a letter in 10 days explaining well. Which was not an issue because I was concerned with spending enough money in the initial time period to get the extra bonus reward for all the cards I just applied for.

[whatchamacallit]

Here is the thread ppnewbie started not too long ago.

viewtopic.php?f=9&t=12481


I did learn something from that thread and now have the Citi Custom Cash for 5% off groceries instead of the American express card I was using with an annual fee. American Express did let me downgrade the card and I believe they even prorated my fee.

General purchases I still use the Fidelity rewards for 2% cash back. The main thing I prefer about it over the citi double cash is that it automatically deposits cash back into my Fidelity account. If citi had an automatic application of cash back I think I would prefer that.

I still use Discover for bonus categories like restaurants this quarter. I also noticed just recently that Discover now has an option for automatic use of cash back each month so you don't have to go in any manually redeem anymore.


I also use the Amazon 5% back card. I hate that I am so tied into Amazon now but they have me locked in with their conveniences and savings.


One thing that changed in my head just recently. I used to sometimes save points instead of cashing them in just in case I could use them for savings on a gift card later(usually 10% off). Now that you can earn so much on cash I figure it isn't worth the trouble anymore to try to save later on a gift card. I figure I might as well get the cash back as soon as possible to start earning interest.

[yankees60]

I first did a search on "credit card". Resulted in error message.

Then I did two more searches on "credit" and "card". "Credit" brought me 189 pages. When I tried to go to the second page got the error massage. I think I got the error message straight off on the "card" search.

Maybe I will now apply for that Citi Custom Cash for the 5% groceries.

For the Citi Double Cash I think I just periodically request the existing rebate be applied to my account balance.

I have a Discover card but I go to restaurants so infrequently not enough motivation to use the card just for that.

No downsides for me to use the Amazon card as they are always my first choice to buy anything. The combination of price and convenience is unparalleled.

Were you referring to buying Amazon gift cards at 10% off?

I have a HUGE amount of Amazon rewards that I believe I can only use against purchases.

Finally, an update. Was also just rejected by Wells Fargo. Can never understand why any credit card application is ever rejected based upon this credit score (which I can never understand why I have never got the highly score possible).

Capture.JPG (35.36 KiB) Viewed 934 times

[yankees60]

Now completely shocked that the Citi Custom Card was immediately denied!

Their double cash card is my main card which gets a lot of activity and is automatically paid every month.

Seems like I'd be their ideal customer? Except maybe not since they earn no interest from me?

[whatchamacallit]

Vinny,

I wonder if the denials may be related to your other thread about the money supply if banks are holding off on new loan accounts.

I haven't tried applying to any credit cards in maybe a year now but I also did have trouble in the past getting approved for new cards when I was just trying to get a sign up bonus. My credit score was also in the 800s but I think they said I had too many recent accounts.


For the gift card savings it was mostly on my discover account that they would have gift card discounts of different restaurants or other stores besides amazon. There are still pretty good savings to be had if it is something you need anyway but not worth the trouble of having to use a gift card at this point since your cash can earn %5 while you wait to find something you need.

[yankees60]

Vinny,

I wonder if the denials may be related to your other thread about the money supply if banks are holding off on new loan accounts.

I haven't tried applying to any credit cards in maybe a year now but I also did have trouble in the past getting approved for new cards when I was just trying to get a sign up bonus. My credit score was also in the 800s but I think they said I had too many recent accounts.


For the gift card savings it was mostly on my discover account that they would have gift card discounts of different restaurants or other stores besides amazon. There are still pretty good savings to be had if it is something you need anyway but not worth the trouble of having to use a gift card at this point since your cash can earn %5 while you wait to find something you need.

I don't understand also why I need to wait ten days to get their explanation as to why they instantly turned me down. Why not also tell me via email unless the law is that the notification has to take place by paper mail. Why not both ways?