Jump to content

The Master 2% Back/No AF Thread (Don't Settle for Less!)


Recommended Posts

  • 5 months later...

  • Replies 73
  • Created
  • Last Reply

Top Posters In This Topic

Top Posters In This Topic

Popular Posts

Updated, with thanks to @nemo , who noticed that Alliant just put people before profits by devaluing their "2X" rewards card.  This card is now worse than a Capital One Quicksilver.  💩    

Cash-back cards come with a variety of reward structures, ranging from a flat percentage on all purchases to rotating 5% categories which require advance registration. If you enjoy this game (which I

Best I could find:    

  • 4 weeks later...
  • 3 months later...
  • 9 months later...

A couple of updates to reflect Blispay's indefinite status in oblivion, and I updated the Vulture description in light of recent rewards changes.  It still isn't a 2% card.

 

***************************

 

Cards that Pay 2% on All Purchases with No AF (No Strings)

 

Alliant CU Visa Platinum Rewards Earns 2 points/$1 spent, which is 2% cash back when redeemed as a statement credit or deposited into an Alliant account.

 

Blispay (First Electronic Bank) This card has an ongoing offer of 6 months/no interest for purchases over $199. Reports only to Experian.

 

Citi Double Cash This card pays 1% back per $1 spent + another 1% back when you pay your bill. I'm not a big fan of the 1% + 1% gimmick on this card, but the math works.

 

FNBO Complete Rewards Visa Signature 2% back when redeemed into any checking account. The linked product page suggests that you can only get 2% when redeeming to an FNBO account, however the account terms say that you received 2% back when redeeming via ACH to any checking account. CAUTION: Other redemption choices like travel are worth as little as 1%. 

 

State Department FCU Premium Cash Back+

 

 

Cards that Pay 2% on All Purchases with No AF (Other Account Requirements)

 

Fidelity Rewards Visa Signature Card (Elan) Points are redeemable to a Fidelity retirement, brokerage, 529 or checking ["Cash Management"] account).

 

PayPal Cash Back Mastercard (Synchrony) Requires a PayPal account.

 

PenFed Power Cash Rewards Visa Signature Has checking account or military service requirements to earn 2% (otherwise a ho-hum 1.5% back)

 

 

Cards That are Disguised as 2% Cards But Are Not

 

Capital One Venture - Not only does this card have an annual fee of $95, but you only get a 2% return if you redeem points against recent travel purchases. If you haven't made any recent travel purchases your points will only get you 1% in redemption value. Charging a $95 AF for a card that pays as little as 1% back when you aren’t paying attention is obscene.  You can now transfer points to certain airline loyalty programs at a rate less than 1 point = 1 mile.

 

TURD.

 

Cards That are Disguised as 2% Cards But Are Not AND Have Other Requirements

 

Navy Federal Flagship Visa Signature You can only get this card if you are currently a member (or can become a member) of this credit union, which is infamous for freezing your bank accounts and preventing you from accessing your own money "for your own protection," and other hijinks that make them unbearable to deal with. The card itself has a flat 2 points/dollar reward structure paired with an indefensible $49 annual fee. BOWL WINDER.

Link to post
Share on other sites
1 hour ago, cv91915 said:

A couple of updates to reflect Blispay's indefinite status in oblivion, and I updated the Vulture description in light of recent rewards changes.  It still isn't a 2% card.

 

***************************

 

Cards that Pay 2% on All Purchases with No AF (No Strings)

 

Alliant CU Visa Platinum Rewards Earns 2 points/$1 spent, which is 2% cash back when redeemed as a statement credit or deposited into an Alliant account.

 

Blispay (First Electronic Bank) This card has an ongoing offer of 6 months/no interest for purchases over $199. Reports only to Experian.

 

Citi Double Cash This card pays 1% back per $1 spent + another 1% back when you pay your bill. I'm not a big fan of the 1% + 1% gimmick on this card, but the math works.

 

FNBO Complete Rewards Visa Signature 2% back when redeemed into any checking account. The linked product page suggests that you can only get 2% when redeeming to an FNBO account, however the account terms say that you received 2% back when redeeming via ACH to any checking account. CAUTION: Other redemption choices like travel are worth as little as 1%. 

 

State Department FCU Premium Cash Back+

 

 

Cards that Pay 2% on All Purchases with No AF (Other Account Requirements)

 

Fidelity Rewards Visa Signature Card (Elan) Points are redeemable to a Fidelity retirement, brokerage, 529 or checking ["Cash Management"] account).

 

PayPal Cash Back Mastercard (Synchrony) Requires a PayPal account.

 

PenFed Power Cash Rewards Visa Signature Has checking account or military service requirements to earn 2% (otherwise a ho-hum 1.5% back)

 

 

Cards That are Disguised as 2% Cards But Are Not

 

Capital One Venture - Not only does this card have an annual fee of $95, but you only get a 2% return if you redeem points against recent travel purchases. If you haven't made any recent travel purchases your points will only get you 1% in redemption value. Charging a $95 AF for a card that pays as little as 1% back when you aren’t paying attention is obscene.  You can now transfer points to certain airline loyalty programs at a rate less than 1 point = 1 mile.

 

TURD.

 

Cards That are Disguised as 2% Cards But Are Not AND Have Other Requirements

 

Navy Federal Flagship Visa Signature You can only get this card if you are currently a member (or can become a member) of this credit union, which is infamous for freezing your bank accounts and preventing you from accessing your own money "for your own protection," and other hijinks that make them unbearable to deal with. The card itself has a flat 2 points/dollar reward structure paired with an indefensible $49 annual fee. BOWL WINDER.

You need to add the AOD 3% card.

Link to post
Share on other sites
10 minutes ago, CTSoxFan said:

 

This membership eligibility for this CU/card is very limited, probably not worth adding.

There is a bike club and others IIRC which is why the lemmings over at the junior varsity forum have all jumped of the AOD ledge.

Link to post
Share on other sites
2 hours ago, hegemony said:

There is a bike club and others IIRC which is why the lemmings over at the junior varsity forum have all jumped of the AOD ledge.

I was only going off what I saw on their website via a quick search, only thing I saw was your employer being part of the group was the only path to eligibility.  I didn't deep dive to see if there was some club membership loophole to work your way in, but as you mentioned there does seem to be some loopholes.  I have a feeling this will quickly go the way of the duck card and you'll see retroactive closures or a significant change to the rewards structure.

Link to post
Share on other sites
  • 3 months later...
On 8/29/2018 at 9:50 AM, cv91915 said:

Cards that Pay 2% on All Purchases with No AF (No Strings)

 

Alliant CU Visa Platinum Rewards Earns 2 points/$1 spent, which is 2% cash back when redeemed as a statement credit or deposited into an Alliant account.

 

Blispay (First Electronic Bank) This card has an ongoing offer of 6 months/no interest for purchases over $199. Reports only to Experian.

 

Citi Double Cash This card pays 1% back per $1 spent + another 1% back when you pay your bill. I'm not a big fan of the 1% + 1% gimmick on this card, but the math works.

 

FNBO Complete Rewards Visa Signature 2% back when redeemed into any checking account. The linked product page suggests that you can only get 2% when redeeming to an FNBO account, however the account terms say that you received 2% back when redeeming via ACH to any checking account. CAUTION: Other redemption choices like travel are worth as little as 1%.

 

State Department FCU Premium Cash Back+

 

 

Cards that Pay 2% on All Purchases with No AF (Other Account Requirements)

 

Fidelity Rewards Visa Signature Card (Elan) Points are redeemable to a Fidelity retirement, brokerage, 529 or checking ["Cash Management"] account).

 

PayPal Cash Back Mastercard (Synchrony) Requires a PayPal account.

 

PenFed Power Cash Rewards Visa Signature Has checking account or military service requirements to earn 2% (otherwise a ho-hum 1.5% back)

 

 

Cards That are Disguised as 2% Cards But Are Not

 

Capital One Venture - Not only does this card have an annual fee of $95, but you only get a 2% return if you redeem points against recent travel purchases. If you haven't made any recent travel purchases your points will only get you 1% in redemption value. Charging a $95 AF for a card that pays as little as 1% back when you aren’t paying attention is obscene. This card calls its points "miles," which is a term most people know as the unit of currency earned in airline frequent flyer programs, however no airline accepts Capital One's "miles," which are worth 0.5¢ to 1.0¢ each toward particle board or pickled beets or hotel stays. TURD.

 

Cards That are Disguised as 2% Cards But Are Not AND Have Other Requirements

 

Navy Federal Flagship Visa Signature You can only get this card if you are currently a member (or can become a member) of this credit union, which is infamous for freezing your bank accounts and preventing you from accessing your own money "for your own protection," and other hijinks that make them unbearable to deal with. The card itself has a flat 2 points/dollar reward structure paired with an indefensible $49 annual fee. BOWL WINDER.

AOD 3% card missing

 

Apple Card is 2% with Apple Pay which you young people seem to like and seems like no more a "catch" than the paypal card.

 

also note that the Fidelity card pays up to 3% but with a catch for the higher than 2% CB.

 

Edited by hegemony
Link to post
Share on other sites
1 hour ago, hegemony said:

AOD 3% card missing

 

Apple Card is 2% with Apple Pay which you young people seem to like and seems like no more a "catch" than the paypal card.

 

also note that the Fidelity card pays up to 3% but with a catch for the higher than 2% CB.

 

This thread is about establishing the floor for what people should accept (2% on everything), and not what else is out there that pays more.

 

"With Apple Pay" is not a flat 2%.  It's sometimes 2%, sometimes not 2%.  People who are drawn to a flat cash-back structure generally value the simplicity of using one card for everything vs. having a wallet full of situational cards.

 

I'm not advocating settling for 2% back on everything, I'm just forbidding people to accept less.  😛  

Link to post
Share on other sites
1 hour ago, cv91915 said:

This thread is about establishing the floor for what people should accept (2% on everything), and not what else is out there that pays more.

 

"With Apple Pay" is not a flat 2%.  It's sometimes 2%, sometimes not 2%.  People who are drawn to a flat cash-back structure generally value the simplicity of using one card for everything vs. having a wallet full of situational cards.

 

I'm not advocating settling for 2% back on everything, I'm just forbidding people to accept less.  😛  

I get it.

 

I guess I don't see using apple pay for the 2% as any more of a catch than having to slum with paypal to get the synch card especially for these young kids and their fancy smart phones, especially if they are deciding between apple pay with subprime discovery fake miles or the goldman sachs product.

 

 

Link to post
Share on other sites
  • 2 weeks later...
  • 1 month later...

Cards that Pay 2% on All Purchases with No AF (No Strings)

 

Alliant CU Visa Platinum Rewards Earns 2 points/$1 spent, which is 2% cash back when redeemed as a statement credit or deposited into an Alliant account.  $50 minimum for redemptions.  <-- Updated redemption requirement

 

Citi Double Cash This card pays 1% back per $1 spent + another 1% back when you pay your bill. I'm not a big fan of the 1% + 1% gimmick on this card, but the math works.

 

FNBO Complete Rewards Visa Signature 2% back when redeemed into any checking account. The linked product page suggests that you can only get 2% when redeeming to an FNBO account, however the account terms say that you received 2% back when redeeming via ACH to any checking account. CAUTION: Other redemption choices like travel are worth as little as 1%. 

 

State Department FCU Premium Cash Back+

 

 

Cards that Pay 2% on All Purchases with No AF (Other Account Requirements)

 

Fidelity Rewards Visa Signature Card (Elan) Points are redeemable to a Fidelity retirement, brokerage, 529 or checking ["Cash Management"] account).

 

PayPal Cash Back Mastercard (Synchrony) Requires a PayPal account.

 

PenFed Power Cash Rewards Visa Signature Has checking account or military service requirements to earn 2% (otherwise it pays a depressing 1.5% back)

 

 

Cards That are Disguised as 2% Cards But Are Not

 

Capital One Venture - Not only does this card have an annual fee of $95, but you only get a 2% return if you redeem points against recent travel purchases. If you haven't made any recent travel purchases your points will only get you 1% in redemption value. Charging a $95 AF for a card that pays as little as 1% back when you aren’t paying attention is obscene.  You can now transfer points to certain airline loyalty programs at a rate less than 1 point = 1 mile.

 

TURD.

 

Cards That are Disguised as 2% Cards But Are Not AND Have Other Requirements

 

Navy Federal Flagship Visa Signature You can only get this card if you are currently a member (or can become a member) of this credit union, which is infamous for freezing your bank accounts and preventing you from accessing your own money "for your own protection," and other hijinks that make them unbearable to deal with. The card itself has a flat 2 points/dollar reward structure paired with an indefensible $49 annual fee. BOWL WINDER.

Link to post
Share on other sites
  • 2 months later...

Updated, with thanks to @nemo , who noticed that Alliant just put people before profits by devaluing their "2X" rewards card.  This card is now worse than a Capital One Quicksilver.  💩

 

 

Cards that Pay 2% on All Purchases with No AF (No Strings)

 

Citi Double Cash This card pays 1% back per $1 spent + another 1% back when you pay your bill. I'm not a big fan of the 1% + 1% gimmick on this card, but the math works.

 

FNBO Complete Rewards Visa Signature 2% back when redeemed into any checking account. The linked product page suggests that you can only get 2% when redeeming to an FNBO account, however the account terms say that you received 2% back when redeeming via ACH to any checking account. CAUTION: Other redemption choices like travel are worth as little as 1%. 

 

State Department FCU Premium Cash Back+

 

 

Cards that Pay 2% on All Purchases with No AF (Other Account Requirements)

 

Fidelity Rewards Visa Signature Card (Elan) Points are redeemable to a Fidelity retirement, brokerage, 529 or checking ["Cash Management"] account).

 

PayPal Cash Back Mastercard (Synchrony) Requires a PayPal account.

 

PenFed Power Cash Rewards Visa Signature Has checking account or military service requirements to earn 2% (otherwise it pays a depressing 1.5% back)

 

 

Cards That are Disguised as 2% Cards But Are Not

 

Alliant CU Visa Platinum Rewards <----------- UPDATED Jan 2021 / POINTS DEVALUED Earns 2 points/$1 spent, which is 2% 1.34% cash back when redeemed as a statement credit or deposited into an Alliant account.  First Alliant increased the minimum redemption from $25 to $50, and then they devalued the point value by 33%.  Their web site still advertises their credit cards as offering with the tag "More Rewards," even though this card is now even less rewarding than a Capital One Quicksilver.  

 

This card = feckies.

 

Capital One Venture - Not only does this card have an annual fee of $95, but you only get a 2% return if you redeem points against recent travel purchases. If you haven't made any recent travel purchases your points will only get you 1% in redemption value. Charging a $95 AF for a card that pays as little as 1% back when you aren’t paying attention is obscene.  You can now transfer points to certain airline loyalty programs at a rate less than 1 point = 1 mile.

 

TURD.

 

Cards That are Disguised as 2% Cards But Are Not AND Have Other Requirements

 

Navy Federal Flagship Visa Signature You can only get this card if you are currently a member (or can become a member) of this credit union, which is infamous for freezing your bank accounts and preventing you from accessing your own money "for your own protection," and other hijinks that make them unbearable to deal with. The card itself has a flat 2 points/dollar reward structure paired with an indefensible $49 annual fee. BOWL WINDER.

Link to post
Share on other sites

I thought Citi DC, when introduced in 2014, had set the bar that the other major issuers would be forced to stretch to.   I now fear that it's at significant risk to being reduced to 1.5% at some point within the next 2 years, based on lack of competition (I imagine that they'll kill the 2-step earn).

 

 

Link to post
Share on other sites
  • 4 weeks later...

Great post, I see RBFCU's 2% was mentioned (https://www.rbfcu.org/loans/credit-cards), but I think this is a fantastic card.

 

2% CashBack Rewards

Earn unlimited cash back on all purchases

Ideal for:
Maximizing rewards accrual and flexible redemption options combined with a great rate.

  • 0% Introductory APR* on Balance Transfers and Cash Advances
  • $0 Balance Transfer Fee
  • No Annual Fee
  • No Foreign Transaction Fees
  • $0 fraud liability on unauthorized purchases
  • $1 million in travel accident insurance


 

Link to post
Share on other sites
4 hours ago, Umm2Two said:

Great post, I see RBFCU's 2% was mentioned (https://www.rbfcu.org/loans/credit-cards), but I think this is a fantastic card.

 

2% CashBack Rewards

Earn unlimited cash back on all purchases

Ideal for:
Maximizing rewards accrual and flexible redemption options combined with a great rate.

  • 0% Introductory APR* on Balance Transfers and Cash Advances
  • $0 Balance Transfer Fee
  • No Annual Fee
  • No Foreign Transaction Fees
  • $0 fraud liability on unauthorized purchases
  • $1 million in travel accident insurance


 

Do you mind sharing specifics on what the flexible redemptions are?

Link to post
Share on other sites
8 hours ago, TheVig said:

Do you mind sharing specifics on what the flexible redemptions are?

 

Best I could find:

 

Quote
  • Rewards don’t expire
  • No limits on how much you can earn
  • Redeem any amount at any time
  • Redeem as deposit to checking or savings account
  • Cash back automatically deposited at end of year if you don’t redeem it

 

Link to post
Share on other sites

Alliant sent out an e-mail officially retracting its point devaluation, and stating that they would issue additional points to make up for reduced-value redemptions from last month.

 

It was pretty sneaky how they implemented the devaluation in the first place, but I must say I'm impressed with the way they reversed it.

 

We now have another 2% card back!

Link to post
Share on other sites

Alliant apparently bowed to pressure after devaluing redemptions on the 2X card, and reverted back.  Of all of the 2% options, I'd put this one last on your list.  I promise you they'll devalue it again.

 

Cards that Pay 2% on All Purchases with No AF (No Strings)

 

 

Citi Double Cash This card pays 1% back per $1 spent + another 1% back when you pay your bill. I'm not a big fan of the 1% + 1% gimmick on this card, but the math works.

 

FNBO Complete Rewards Visa Signature 2% back when redeemed into any checking account. The linked product page suggests that you can only get 2% when redeeming to an FNBO account, however the account terms say that you received 2% back when redeeming via ACH to any checking account. CAUTION: Other redemption choices like travel are worth as little as 1%. 

 

State Department FCU Premium Cash Back+

 

 

2X Cards that Were 2%, Then Devalued to 1.34% and Then Revalued Back to 2%  (Proceed with Caution)

 

Alliant CU Visa Platinum Rewards Earns 2 points/$1 spent, which is 2% cash back when redeemed as a statement credit or deposited into an Alliant account.  $50 minimum for redemptions.  <-- Updated redemption requirement 

 

PLEASE NOTE:  Alliant briefly devalued the redemption value of these points in early 2021, making this a 1.34% card (worse than a Capital One Quicksilver), but then restored the redemption value after getting blowback. 

 

Another devaluation is inevitable, it just may be communicated better next time.  Use this card for 2% if you already have it, but if I was in the market for a 2% card, this one would be last on my list due to the devaluation threat.   A 1.34% card is effectively worthless, and they've already tried that once.

 

 

Cards that Pay 2% on All Purchases with No AF (Other Account Requirements)

 

Fidelity Rewards Visa Signature Card (Elan) Points are redeemable to a Fidelity retirement, brokerage, 529 or checking ["Cash Management"] account).

 

PayPal Cash Back Mastercard (Synchrony) Requires a PayPal account.

 

PenFed Power Cash Rewards Visa Signature Has checking account or military service requirements to earn 2% (otherwise it pays a depressing 1.5% back)

 

 

Cards That are Disguised as 2% Cards But Are Not

 

Capital One Venture - Not only does this card have an annual fee of $95, but you only get a 2% return if you redeem points against recent travel purchases. If you haven't made any recent travel purchases your points will only get you 1% in redemption value. Charging a $95 AF for a card that pays as little as 1% back when you aren’t paying attention is obscene.  You can now transfer points to certain airline loyalty programs at a rate less than 1 point = 1 mile.

 

TURD.

 

Cards That are Disguised as 2% Cards But Are Not AND Have Other Requirements

 

Navy Federal Flagship Visa Signature You can only get this card if you are currently a member (or can become a member) of this credit union, which is infamous for freezing your bank accounts and preventing you from accessing your own money "for your own protection," and other hijinks that make them unbearable to deal with. The card itself has a flat 2 points/dollar reward structure paired with an indefensible $49 annual fee. BOWL WINDER.

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

  • Similar Content

    • By Genie
      Hello, I'm looking for the best card to pay for a $4k purchase. I've got the money but I'd like to use a card that will get me the most value back like in cash back or sign up bonus for spending a large amount. This is an orthodontist purchase but I want to get the most bang for my money.
       
      I have: AmEx everyday preferred, Capital One secure, CreditOne platinum.
      My relative has Discover it.
       
      I hope y'all can help with this!
       
       
    • By StarkRaven$
      Before joining CB's I had no knowledge or appreciation of credit card rewards. When I was rebuilding my credit I noticed under the "advanced tab" posts discussing rewards but at the time I assumed I would never have a use for that. In other words, I simply didn't understand it. Fast forward to today, For Christmas I bought my grandson a limited edition LA Rams Eric Dickerson tee shirt and covered the entire cost through rewards simply by paying my utility bills and using my US Bank cc. 
       
      Seriously! If someone was to tell me I could do that four years ago, I would just tune out and dismiss it in my mind. So thank you very much for all the invaluable education here on Creditboards. You all are amazing!
    • By StarkRaven$
      My Amex Everyday Card Preferred sign up bonus pts were added to my card yesterday. The sign up bonus for at least $1K spend within three months is 15K additional points. It's on their website and I confirmed it with Amex over the phone. In the fine print bonus pts will not increase or apply to 50% more pts if you make 30 or more purchases within a statement period. They added 25K pts instead! I'll gladly take the extra 10K pts. Just hope they don't correct later.  Has that ever happened to anyone before?
       
      DESCRIPTIO     AEDP $2k Spd/25k MR Pts These points have been added because of an offer or qualifying purchases made.
    • By StarkRaven$
      I booked a RT flight from San Diego to Hayden, CO on the Alaska Air website a month ago for Feb travel. I did not use any points. Total cost was $337.30. Today the same flight from the Alaska Air website is $468.
       
      On the Amex Travel booking site the same Alaska flight is $720. I realize I can earn more reward points with Amex going through their travel site but the cost is too expensive.
       
      I only travel twice a year and it's usually to visit my brother in Steamboat Springs.
       
      Am I missing something here? Could someone explain or direct me to post on CB.
       
    • By policebox
      I received this offer for my Fidelity Rewards Visa Card to earn 2,000 bonus points ($20).
       
      Either I'm reading this incorrectly, or this seems like an insanely terrible offer.
       
      Here is how I'm interpreting the deal:
      Must do spending between November 1 and December 31, 2019 Must spend $2,100 before you start earning bonus points You can earn up to 2,000 Bonus Points (redemptions are 100 points = $1, so $20 maximum cash back) You earn 20% Bonus Points per dollar spent (0.4 Bonus Points per $1) At this rate, you'd need to spend $7,100 ($2,100 + $5,000) to get the maximum bonus of 2,000 points ($5,000 * 0.4 points/$1 = 2,000 points)  
      Tell me I'm crazy and how.
       

       
      Edit: I think I found my math error. Looks like after you spend $2,100, if you spend an additional $5,000 you'd get $20 cash back. Still, hardly worth stressing over.




  • Member Statistics

    • Total Members
      180,569
    • Most Online
      2,046

    Newest Member
    CandiedCredit
    Joined
×
×
  • Create New...

Important Information

Guidelines