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Next Quarter Cash Back & Upgrade

March 20th, 2018 at 08:04 am

I was reviewing next quarter's cash back offers. Chase Freedom and Discover have 5% cash back on Groceries. I'm not sure I will be using them though because I have upgraded our American Express Blue Everyday card with the Cash Preferred (I think that's it) which will offer 6% cash back on groceries, and 3% on gas and department stores.

I've known about this card for awhile...but with all the churning of card offers over the years I just didn't dip into this one most likely due to the annual fee. I try to avoid those, but sometimes in the end it is worth it!

American Express made it easy to upgrade. My account numbers are the same. We will get new cards. The annual fee of $95 is waived the first year. If we spend $2000 or more on the card in the first three months we will get a $150 statement credit. I do not expect this to be a problem.

We've been averaging earning $25 statement credit each month just using the card for purchases at grocery stores. At 6% cash back, I expect we can double this amount. And I think there is a limit to the amount you can spend and still get the 6%. Eventually, we may need to turn to another card. We do have another Blue Cash Everyday card in my husband's name so we could at least get 3%.

Now I'm starting to wonder if I should use the 5% back on Chase and Discover for the second quarter. That would help me not meet the maximum for grocery stores so quickly on the American Express. I guess I have a little more to ponder, as I would still need to spend $2000 to get the statement credit.

I'll get it figured out eventually! Smile

Oh, I did change our Electric bill to be charged to our US Bank Visa for 5% cash back. All set for next quarter...and hopefully all quarters following.

4 Responses to “Next Quarter Cash Back & Upgrade”

  1. rob62521 Says:

    Lots of good planning on your part.

  2. Sallyr70 Says:

    I'm all about hacking that AMEX card to maximize the 6% on groceries category! I've been mentioning it on my blog. I bought $1000 in Amazon cards last year, but now have the Amazon visa where I get 5%. The other thing I do is buy the store gift cards to use at their fuel stations. They might also carry other gas cards, not sure as I only use the Safeway and Kroger stations. If you could do this for your fuel, you would earn 6% instead of 3%.

    Another is I started buying Netflix cards and loading them to my account. It's only about $20/month, but little things add up.

    The limit for the 6% is $6000 spend. Beyond that it's only 1%. Frown

    I'm jealous because I didn't get my first year waived or the cash back incentive... oh well!

  3. FrugalTexan75 Says:

    I've been looking at that card too, but couldn't justify a $95 annual fee - so when they waived the first year's fee - I jumped quite happily. Smile We won't get anywhere near $6k in grocery spending, so Amex will be it. (Although buying gas cards with it could be interesting to help get closer - have to find a grocery store which allows you to buy gift cards with a credit card - I see lots of places with signs saying cash only.)

  4. Amber Says:

    6% is a sweet deal.

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