The best credit card for rewards and cash back is something that everyone is in search of. Creditcards can be a great asset as long as the rewards or cash back offsets any annual fees. The AMEX Blue Cash Everyday card is the ideal card for most people and I cover some benefits this offers you and some drawbacks on the card as well.
I really look for 3 requirements when shopping for a brand new credit card:
1) No annual fee. Or if it has an annual fee, the benefits should offset the fee significantly.
2) High cash back or rewards back per dollar spent. The higher the cash back or reward points you get back, the better.
3) Extra perks/bonuses. Maybe no Forex fees, maybe it comes with car rental insurance, etc. Maybe a signup bonus?
This creditcard checks all of these boxes which is why I think it is ideal for the average consumer.
This card gives you 3% back on groceries (up to 6000/year in purchases - then drops to 1%), 2% back on gas - no limit, 2% cashback on US department stores - no limit, 1% cashback on everything else. There is NO annual fee and no additional fees. They also give you a bunch of perks for holding the card. It has purchase protection - so if you purchase something with the CC and it's damaged/stolen, you could potential file a claim with AMEX. It extends return period on items to 90 days - again you file with AMEX and they look @ a case-to-case basis. Roadside assistance in USA and Canada is included. Double your warranty on items when purchased with this CC. So for example, if you buy a TV and it has 1yr warranty, AMEX will give you 1 more year on top of that. On top of this, they are currently offering a $150 credit if you spend $1,000 in purchases on your new Card in your first 3 months. This is doable especially if you plan to use this for ALL your needs - gas and groceries alone will help you meet this.
So it meets all the 3 requirements, but nothing is without its drawbacks. So what are some drawbacks to this card? Well, the most obvious is that this is an AMEX - not an MC or V, so not ALL merchants accept it. From my experience though, there are enough merchants out there that DO accept this card. It's usually the smaller stores or services that don't accept it. Another downside is that there's no additional cashback on bills - some cards offer you a 2-4% back on recurring bills, like internet, cellphone, etc.. There's also fees for Forex transactions (additional). The final downside I see is that there's no travel insurance - so if you travel and your flight is canceled or your baggage is lost, there's nothing this card can do to help you out with.
Overall though, still an excellent credit card and I think this is the BEST credit card for rewards and the BEST credit card for cash back.
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