Which credit card should I get for the best rewards if I spend $72k a year on it with no annual fee?
Yeah, there are lots of sites that'll help your research, but the big question is what you're spending that $72k on in the first place. For example, if it's travel, then consider something like a card with 2% or 3% cash back on travel-related expenses. (I travel a lot myself but the last reward I want is airline miles.)
And if you're a Costco member and you spend a lot there, then definitely get their Executive membership and the Amex Costco card. The 2% rebate you get will offset the membership cost, or reduce it to less than the standard membership would be in most cases, and the cash rewards (3% on gas, 2% on restaurant and travel, 1% everywhere else) are about as good as you'll find anywhere.
Don't get taken in by ads that promise 5% for certain categories each quarter, as theyre usually limited to just $1500 worth of purchases in that category. If any deals sounds gimmcky, it is.read more collapse
If you spend $72,000 a year, why do you care about an annual fee?
Check this out, on how to get rib of your annual fee: http://www.iwillteachyoutoberich.com/blog/get-your-credit-cards-annual-fee-waived/
I'd say if you're looking for rewards, it's most important to analyze your opportunities. If you fly a lot, one that offers the best miles. If you don't fly, it would be a waste of rewards if your miles expire. For me, cash is king. Any card that offers cash back. That never expires and can be used to buy whatever reward you want, although you're usually limited to how much you can earn in a year and that would limit your potential to cash in on the full $72K.read more collapse
- Apr 19, 2012 2:36 PM
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