Centsible Cards, Part 1

If you have read this blog and decided that you want to earn and save money, or be able to pay your big bills with credit cards every month, you're probably wondering which cards give you the best rewards.  Come to your Centses is here to help you with this process.  Today, I will begin a series of posts entitled "Centsible Cards".  I will be providing details of the best cards to use to earn a good amount of cash back/rewards for categories outside of mortgage/rent payments that make a up a good chunk of the average consumer's budget.  The first product we will discuss is from American Express.


American Express Blue Cash Everday/Preferred

The American Express Blue Cash offers consumers 3% cash back at grocery stores (up to $6000 in purchases per year), 2% cash back at gas stations and department stores, and 1% cash back everywhere else.  The Preferred version, which I carry, offers 6% cash back at grocery stores (with the same stipulation mentioned above), 3% cash back at gas stations and department stores, and 1% everywhere else.  American Express charges a $75 annual fee for the Preferred version, so it's important to track your spending and make sure that you are still making a profit after factoring in the fee.  The focus of this post will be the Preferred version. 

The American Express Blue Cash Preferred card lets you earn unlimited cash back, and it's pretty easy to redeem.  Once you have earned $25 in rewards, you are able to redeem.  You can earn $25 quickly with this card.  One complaint I have about this card is the amount of time that it takes for the cash back to post.  Essentially, the cash back is available one billing cycle behind the current one.  That means you have to wait almost 30 days after your billing cycle closes to be awarded the cash back dollars.  Once they are awarded, however, you can redeem them in a few easy steps.  Your rewards dollars are displayed prominently on the page, allowing you to click the "Explore Rewards" button to view ways to redeem your cash back.  I personally redeem the cash back as a statement credit.  You do have the option to use it to buy goods in through an online portal, as well as gift cards.  You will get the best value and easiest redemption, generally speaking, by redeeming for a statement credit.  The credit will show up in your balance the day after you redeem it. 

6% cash back at grocery stores is particularly useful for large families.  You can save even more money if you shop at stores that offer fuel points and take advantage of coupons and sales. For instance, Kroger gives 1 fuel point for every dollar spent on items in their store.  They are currently giving 2 fuel points per dollar spent on weekends.  This is definitely something to take advantage of.  Per the terms and conditions, American Express does not count Target, WalMart, and other stores in this category as grocery stores, even though these places have large grocery sections.

Cash back at gas stations can be earned inside the store and at the pump.  This is not the case with all cards that award rewards on gas, so it's important to note this fact.  Purchases at grocery stores and superstores that also sell gas are unfortunately not awarded cash back, per the terms and conditions.

Most department stores qualify for the cash back option.  You can get a list of stores here.

The Blue Cash Preferred offers other features, such as roadside assistance and purchase protection.  You can read about those and other features in detail here.

I believe that this card is a great option for your wallet.  I carry it and have been very pleased with my earnings.  Tomorrow, we will continue our series on the most rewarding credit cards for every day purchases.

Cash back, points, or miles on everything

Come to your Centses is a blog focused on the every day consumer, regardless the size of your paycheck.  Plenty of other blogs exist that help the reader earn rewards that allow them to travel to exotic places at cheap rates.  I'm a reader of those blogs and find that they can be helpful.  Many consumers aren't worried about traveling to Asia or the Caribbean, but they are concerned about making every dollar count.  Come to your Centses is here to help that consumer.

Before I divulge any additional info, I must issue an apology.  The tips provided here will be vital, but will not be explained in full detail.  The information I have gleaned from reading numerous forums and talking to other credit card enthusiasts is closely guarded.  The concern in this community is high that repeated advertising of these deals will lead to them being shut down by the banks.  Ultimately, I will give some tips, but won't go into detail publicly.  I am willing to discuss this information offline.

Prepaid debit card products, such as Rush Card and Bluebird by American Express have bill pay features that allow you to pay any bill.  This includes mortgage and rent payments, water bills, and car payments.  What does that mean to you?  Well, if you indirectly figure out ways to load prepaid debit card products with a credit card, you can use your credit card for every single expenditure in your budget.  That means that you can earn cash back, miles, and points on every single item in your budget.

To fully maximize your rewards, you need to get cards that pay the most rewards possible for the category that you are spending in.  As stated in a previous post, you want to make sure that the rewards are easy to earn and redeem.  In the next post, we'll talk about some of those cards in detail.