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My Credit Card Strategy

Every savvy consumer these days should have several credit cards with each card earmarked for specific spend purposes based on their rewards programs. With the ever changing landscape of offers, it is impossible to find all of that in one single card. For me, I had the Citi Platinum Select, the American Express Costco True Earnings [3] for 2% on travel and 1% at Costco (Costco only takes debit or Amex), and Citi mtvU for 5% for restaurants, bookstores (Amazon.com counts), record stores, movie theaters, and video rentals. After Citi ended the Dividend Select’s 5% on gas stations and supermarkets, I swapped that card out with the Citi Drivers Edge Card because it’ll give me 6% at gas stations and supermarkets for 12 months.

How you structure your strategy depends on how you spend and I know that I spend a lot on gasoline and supermarket purchases (6% Citi Drivers Edge) and on textbooks and eating out (5% Citi mtvU) so I found cards that gave me high returns. You will have to build your strategy based on your specific needs but below I’ve listed cards that give off the beaten track cashback rewards so that you can build your strategy. (All cards below have $0 annual fees, unless otherwise noted) If I’ve missed a good card that you currently use or know of, please do let me know!

Also very much worth reading, Samerwriter goes one step further in discussing his strategy [4], he tracks his spending and his % cash back and discusses his numbers.

If you’re looking to pick the best card for your spending, check out this list of the best cash back and reward credit cards [5] currently available.