We’re big fans of credit card rewards, which is one reason why we started this blog. But we realize that we’re a minority, that most people aren’t interested in jumping through all the hoops required to maximize credit card rewards. In fact, some people are at the other extreme: they just want to get a card and go about their business. They don’t want to constantly apply for new cards or swap out cards from their wallet for different spending categories and promotions.
And that’s perfectly fine, nothing wrong with that. But even if that’s your preferred way of doing things, you can still give yourself a nice bonus simply by picking the right card to put your spending on.
Here are a few possibilities for you. We don’t have any of these cards, as we pursue a different strategy (more lucrative, but more time-consuming). But for somebody who wants their personal finances to be as automatic as possible, any of these would be respectable.
IF YOU LIKE CASH BACK: If you’re willing to jump through just one hoop, there is a very good no annual fee 2% cashback card: it’s the Fidelity Amex. To get 2% you have to send your rewards to a Fidelity account, although of course you can then take the money out.
Another good card, one which suffers from terrible marketing but is actually a good deal, is the Priceline Visa. It’s also a 2% no annual fee card, plus you get 5% on “Name Your Own Price” transactions on Priceline.
IF YOU LIKE TO TRAVEL: Consider the American Express Starwood card. You only get one point per dollar, but these points can be very valuable. They’re usually worth somewhere in the neighborhood of three cents each, making this effectively a 3% rewards card, although Starwood experts have been known to get five cents and more per point. Here’s a post from One Mile At A Time showing how he got 8.5 cents per point. We love the Starwood program so far, and once our current stockpile of Starwood points is depleted, there’s a good chance we’ll break down and get this card.
Disclaimer: We do not receive any compensation for applications to these links. We wish we did, but we don’t.
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