Best Reward / Cash Back Credit Cards

Best Reward / Cash Back Credit Cards
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#213

Uhhhhh… No


#214

Um…yes. Who is paying $5k/year on something like NetFlix? Doesn’t Netflix cost like $10 per month? 3% on that is less than $5 per year.


#215

Where are you getting 1%? It’s 100% off if you spend $50 annually in that category.


#216

But you have to put $5k other spending on it. To get an extra 1% sort-of (since it’s limited to streaming vs cash) benefit. It’s like 1% on the $5k. Not on the streaming.

All of this is noise to me. Tmo pays for Netflix except $3. Tmo is paid by ink (7.5%), including that $3. YouTube TV can be paid by Google play gift cards, which have been available >10% off in the past. If Costco or Sam’s puts them on again, can use Chase Freedom for 7.5% on top of that 10-15% off.


#217

You would probably only bother with the Uber card utilize the 4% on restaurants. My point was that 3% off Netflix isn’t very useful.


#218

Sure it is. The context was how much return on streaming services spend. In the example I cited, it is 36%, not 1%. On the streaming services spend.

But yes, it assumes you have other spend on the card amounting to $5000. Since it is the highest return on dining outside of category cards, it is very reasonable to hit that with nothing more than $100 a week of restaurant spend on the card.

It’s not a credit card play I would do, and I wouldn’t pick a card based on a $50 benefit, put _TJ’s statement was valid.


#219

Okay, I see where you’re coming from with the 36% but the overall return is actually 4.9% because you considered the $50 to be 4 months of free Hulu so you have to factor in the $5k spend. If you can afford to spend $100 a week at restaurants for 50 weeks, then good for you. I’ll still take 3 pennies on the dollar with no required spending. I see what they are trying to do with this card but it’s not practical for me and most people here I would imagine. But you’re right, 3% off Netflix isn’t as good except there are no strings attached. Anyone can get it and that was the point of my original post.


#220

If you have Amazon Prime with their card, you can get 5% back on Netflix by buying Netflix GC on Amazon. Get a physical card, and also pocket a no-rush-shipping credit.

Or use Discover at Amazon this quarter, no Prime needed.

Or Red card at Target.

So 3% on Netflix indeed isn’t interesting.


#221

I routinely get my netflix for 33-50% off. (discounted Netflix GC).

I enrolled in 1 class at a Community college and now have Spotify student for $7 a month. Includes Hulu and Showtime for free.

$50 back on full price streaming services is a net loss.


#222

Anyone else see this tonight? I think it would be an absolute nightmare for retailers if they tried this!


#223

Didn’t see it. Never watch DNC-TV. But VERY appreciative of your excellent post. Thanks!

Something like that goes into effect and my entire side hustle descends straight into the toilet. It would cost me thousands of dollars every month. Hope to God nothing changes.


#224

I can’t see this happening any time soon. The Supreme court recently ruled in favor of AMEX in a case where merchants wanted to be free to offer discounts for using specific cards. And it’d be more of a hassle for consumers as well so I cannot imagine this getting much political/social traction.

Btw, if you don’t like the skimpy NBC article, here’s a more detailed one: WSJ article


#225

Eh on the other hand the SC has been overturning state laws that prohibit credit card surcharges while allowing cash discounts. Apparently it’s a “free speech issue” to prevent a merchant from advertising one price and a list of accepted payment forms and then charging another higher amount at checkout without warning.


#226

I can’t see this happening at all. Imagine a line of people waiting to check out, each with a different branded card, and most being told, “Sorry, your VISA/MC is no good here. Only the brands on this list.” (As the cashier points to the list in extremely fine print, which should be posted at the entrance, but probably wouldn’t be.) I foresee a line of abandoned shopping carts.

Are the retailers getting lower swipe fees for their own branded cards? The Target card is becoming a Target MC and Amazon has the VISA.


#227

Last week I found I can’t run my Paypal VISA debit as credit in Kroger. I will try to use a Chase Visa this week and see what happens.


#228

No, they’ll instead add an additional charge automatically and still accept them. Since they’re successfully overturning state consumer protection laws which prohibit this. I would think they would abandon trying to outright reject any.


#229

Sound plausible, still be a mess though. Imaging a sticker that list 20 different cards they add surcharge to at every checkouts.


#230

I didn’t know Europe had such a problem. UK recently banned any surcharges or discounting. Some places were charging 20%


#231

If you’re in CA, I’ve read that one of the Kroger-owned chain of stores had stopped taking VISA credit cards of all kinds altogether due to high fees. IIRC the chain was Foods Co. I have not read about Kroger expanding this to other stores or other states. Good luck either way.


#232

On top of 5% rotating categories to remember to sign-up for and change which card to use where each quarter, if I had to take into account swipe fees surcharges, it’s be a real pain. Since there are two grocery stores with near identical offerings and prices (Kroger and Giant Eagle) in the area, I’d probably go to whichever doesn’t play those stupid games where I don’t know how much I’ll have to pay until reaching the checkstand.

That or I’d look for ways to game the system, such as with purchase of gift cards at other stores not charging a surcharge. But that too would be a hassle.