Jump to content

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


Recommended Posts

  • 4 weeks later...

  • Replies 85
  • 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.  💩    

Best I could find:    

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

On 6/13/2021 at 4:00 PM, cv91915 said:

 

This card is now live.

 

GxGsUNV.png 

 

 

Insert your fake account scandal remarks below, as well as any stupid name variations that include "Hells" and/or "Fartgo," but at least it isn't the Double Cash and its ridiculously over-complicated method of paying 2% back... eventually.

Link to post
Share on other sites

I think I will get this card given my + experience with the Propel.  Yeah its WF but over the past several years they have cleaned up their act (and this coming from someone who DID have false accounts opened in their name).  Companies are not people even if they are "Incorporated", with new management they really can be reformed quickly, especially publicly traded ones who are subject to a public board where stock holders can force change.  I may be completely wrong but to me it looks like WF is actively trying to fix the credit division and actively trying to move their target user base to higher FICO clients to lower risk.  I kind of wonder if WF recent personal line of credit delete was because they had on average extended those lines to a group of users who defaulted too much.  Again just speculation but with the delete of new PROPEL it makes me wonder if the users they attracted maximized it and it was not profitable.  I would bet on a relaunch or redesign of WF travel cards next, maybe ones with real travel partners instead of direct cash.  This article explains well what I am talking about if one looks at the relative income via interchange fees vs direct interest payments: https://www.valuepenguin.com/how-do-credit-card-companies-make-money  yes I know it does not include WF but it does give a way to guess at likely FICO range of target credit card holders for the banks shown.

Edited by Wander907
Link to post
Share on other sites
7 hours ago, Wander907 said:

I may be completely wrong but to me it looks like WF is actively trying to fix the credit division and actively trying to move their target user base to higher FICO clients to lower risk. 

 

In support of this view, the Wells Fargo Secured Visa is now gone from their web site.  I'm sad to see it go for nostalgic reasons since it really helped me back when I needed it, with a max limit of $10k.  If they're moving up-FICO, though, they certainly don't want to keep that around.

Link to post
Share on other sites
12 hours ago, nemo said:

 

In support of this view, the Wells Fargo Secured Visa is now gone from their web site.  I'm sad to see it go for nostalgic reasons since it really helped me back when I needed it, with a max limit of $10k.  If they're moving up-FICO, though, they certainly don't want to keep that around.

 

It's possible that the card wasn't discontinued.  Perhaps it's still available in-branch (or on request) for existing customers.

Link to post
Share on other sites
5 hours ago, jonson said:

SDFCU's Premium Cash Back+ Credit Card. No annual fee, no FTF, low APR. $200 sign-up bonus with $3k spend.

 

https://www.sdfcu.org/premium-cash-back

 

On 2/24/2021 at 2:38 AM, cv91915 said:

 

I had that one, but I don't blame you for missing it, since I've done a poor job consolidating the list.  :) 

Link to post
Share on other sites
Posted (edited)

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, but it does pay 2%... eventually...  Also be aware that there's a $25 minimum redemption, which makes this stupid card even stupider.  If you're patient, the math works.

 

FNBO Complete Rewards Visa Signature 

2% back when redeemed into any checking account. The product page suggests that you can only get 2% when redeeming to an FNBO account, however the account terms say that you receive 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+

I expended a significant amount of blood, sweat and tears trying to leave this cult credit union (saga is detailed in this thread), but if you're already in and want to stay, this card works for 2%.  SDFCU offers a good secured card, and this would be a logical way to leverage an existing relationship take a big step up in card quality when you can.

 

Wells Fargo Active Cash <--   N e w   J u l y   2 0 2 1

Flat 2% without the "half now/half later" nonsense on Citi's offering.  Yes, I know... fake account scandal, Hells Fartgo.  Ell-O-Ell.

 

There may be some unexpected terms that have not yet surfaced, and I'll update this if/when they present themselves.

 

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)

 

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.  

 

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 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 recently added the ability to transfer points to certain airline loyalty programs, but at a rate less than 1 point = 1 mile.  1:1 transfers are a baseline expectation based on what competing cards offer.

 

TURD.

 

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

 

I will delete this card from future updates, because it has an AF and doesn't even pretend to be a 2% card anymore.

 

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.

Edited by cv91915
Link to post
Share on other sites

I'm considering getting the SDFCU 2% card to replace my Citi Double Cash.  Not having a FTF plus 2% is tempting me.  I know some people on here seem to have something against credit unions, but I love the one that I am currently with.  Plus SDFCU is headquartered 5 minutes from where I live so if there is a major issue, I have somewhere to go and solve it.  Seems like there are a million credit unions in the Washington DC area.

Link to post
Share on other sites
7 hours ago, creditcaper1 said:

I'm considering getting the SDFCU 2% card to replace my Citi Double Cash.  Not having a FTF plus 2% is tempting me.  I know some people on here seem to have something against credit unions, but I love the one that I am currently with.  Plus SDFCU is headquartered 5 minutes from where I live so if there is a major issue, I have somewhere to go and solve it.  Seems like there are a million credit unions in the Washington DC area.

 

Depending on how my rebuild goes, If I'm not able to get better offers elsewhere, I am hoping they will allow me to convert my secured card over to the Premium Cash Back+. SDFCU has mostly been good, but their online account manager leaves much to be desired.

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
      182,438
    • Most Online
      2,046

    Newest Member
    DLWrigh18
    Joined
×
×
  • Create New...

Important Information

Guidelines