Sunday, July 21, 2013

How I earn 5% cash back on EVERY purchase I make

I have about 10 credit cards. Some of those I got because of great sign up bonuses ($500 for example) but the majority I got because they have great cash back with no annual fee.

Here's How I Earn 5% back on almost everything I buy which saves me over $600 a year.

  1. Gas (5%) - Penfed Platinum Rewards Card
    • Other options (5%) - 
    • Currently I'm using an offer from USAA for 8% cash back on gas until October and 6% cash back until July 2014. If you bank with USAA check the offers tab on the right corner for offers like these. 
  2. Groceries (5%) - Sallie Mae Rewards Card 
  3. Airlines (5%) - PenFed Premium Travel Rewards Card
  4. Restaurants/Fast Food (5%) - Citi Forward Card
  5. Book Stores (aka and Video Rental Stores/Movie Theaters (5%) - Citi Forward Card
  6. Kohls (5%) - Chase Freedom (July - Sept)
  7. Theme Parks (5%) - Chase Freedom and Citi Dividend (July - Sept)
  8. Car Rentals (5%) - Citi Dividend
  9. Hilton Hotels (5%) - Citi Dividend
  10. Office Supply Stores (5%) - Chase Ink Cash Business
  11. Cellular Phone, Landline, Internet, Cable TV services (5%) - Chase Ink Cash Business
  12. Department Stores (JC Pennies, Macy's Sears) (5%) - US Bank Cash+
  13. Electronic Stores (Bestbuy, Newegg, Apple Store) (5%) - US Bank Cash+

Looking at all the categories from above it might be useful to take a look at what your current credit card rewards are and examine these and figure out if it would be beneficial to apply for another credit card to increase your rewards. Remember always pay your bill on time and try to avoid debt like the plague. 

Many of these cards have sign up bonuses also

  1. Chase Freedom - $100
  2. Chase Ink Cash Business - $200
  3. Citi Dividend - $100
  4. PenFed Premium Travel - $200
  5. Discover - $50
  6. Sallie Mae - $25
  7. Blue Cash Everyday - $100

Some other tips
  • If applying for any of the PenFed Credit Cards, you can get an extra $50 in addition to whatever bonus PenFed is offering by visiting HERE
  • It also always a good idea to have at least one American Express Credit Card. American Express cards are great because every year they have promotional deals like "Small Business Saturday." This allows you to get a free $25 purchase every year to any small business. I typically just buy gift cards with it. For example my wife and I both have American Express Credit Cards and she wanted to get her hair done at a local saloon. It was going to be about $50 so we both just went in a bought $25 Gift Cards which were reimbursed from American Express and then she was able to go in whenever she wanted to get her hair done. They also have other promotional deals like buy a $25 prepaid gift card for only $15. 
  • You can also buy Prepaid Gift Cards at Staples with any Chase Business Card for 5% and then load them onto a bluebird card and get 5% cash back for anything not listed above. Read more about this HERE
  • If looking for great sign up bonuses without an annual fee check out our previous blog entry for a $400 BONUS
Go ahead, turn your next Thirteen Cents into this!!

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