I recently wrote about how I canceled most of the credit cards in my wallet. In short, this was a reconsideration of my goals and strategies as it pertains to finances and travel. Give it a read, I’d love to hear what you think.
Anyway. Now that my wallet is the lightest its been in years, its time for me to consider some new products as replacements for the old ones. This post will serve as my list of the 5 credit cards I’m considering signing up for in 2020.
1. Citi Double Cash
For cash back purists, this card has been top of the heap for some time, and with good reason. The Citi Double Cash offers 1% as you spend, and 1% as you pay for a net effective rate of 2% cash back on all purchases. This is better than my current base earn of 1.5% on the Chase Freedom Unlimited. The downside? No signup bonus. I’ve never signed up for a card without a signup bonus. While I’d consider it, I don’t know that I’m in such dire need of this card that it makes sense to do that. Today, at least.
2. Amazon Visa
Long before I started PursuingPoints.com, the first real rewards credit card I ever had was the Amazon Visa, version 1. To be honest, I don’t remember much about the card or its earning structure, but I sure cherished that thing. Where before I was earning 1% using my PayPal Mastercard (running it as credit), the Amazon card opened up a whole new world of possibilities for me. Eventually, as you all know, I decided to switch to travel cards, and the Amazon V1 got canceled. Oh boy how we’ve come full circle.
I spend way too much money on Amazon.com every year, so of course I have a Prime membership. With this card I’d be earning 5% back on all purchases. Sounds like a no brainer…
3. Alliant Visa Signature Credit Card
I mentioned this card during a YouTube video of some of the most underrated credit cards. The Alliant Visa Signature offers 2.5% cash back, on all purchases! Granted, it does have a $99 annual fee, but its waived in the first year, and you’re breaking even after only $4,000 in purchases. For me, this card seems like another no brainer. Combine this with the Amazon card and I’m earning 3.75% on average, across all purchases. Toss in a Chase Freedom or Discover IT, and we’re up to just over 4% on all purchases!
4. Bank of America Cash Rewards
As I said in the post about getting rid of my travel cards, I’ve developed a new interest for woodworking and home improvement. What a perfect card for those interests! With the BoA Cash Rewards card you’re able to select a category in which you earn 3% for all purchases. One of those categories is home improvement / furnishings. Home Depot, here I come! Whats more, the card has a $200 signup bonus, and no annual fee!
The previous cards are ones that I am legitimately interested in obtaining + using on a regular basis. The #5 card(s) on this list are ones I’m really only interested in obtaining for the purpose of capturing the signup bonus. These cards include, but aren’t necessarily limited to:
- SEFCU Mastercard – $100 bonus
- Capital One Quicksilver – $150 bonus
- Amex Blue Cash Preferred – $300 bonus
Anyway, those are the cards I’m considering for this year. In all honesty, I can see myself signing up for Alliant/BoA/Amazon over the next month or two. Stay tuned!
P.S. Is there a card you think I should consider? Let me know!