I favor points over cash back. But I also recognized that if I’m doing any un-bonused spend, I’m effectively buying points at 2 cents apiece, since I could otherwise be earning two cents per dollar spent. I don’t want to do that with most points currencies. So as I’ve long said, a cash rebate like this may be the best option for spending that isn’t going to earn a bonus on a points and miles credit card.
Now, Bank of America can get you a 2.625% rebate but only if you put $100,000 on deposit with BofA.
For most, though, that’s going to be a bit out of reach so the Citibank card is my favorite because of the rebates plus not being an American Express, although Fidelity has long been the benchmark with 2% back into a Fidelity investment account but issued as an Amex. A signup bonus makes it a bit more attractive than usual.
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