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Wednesday, March 29, 2006 

Best Cashback Card

Part of their Ultimate Savings Guide Kiplinger's has an article on cashback credit cards. To determine which cards are most rewarding, they took a generic spending scenario by assuming that one spends $35 a week on gas, $100 a week on groceries and $1,000 a month on everything else, including $100 at the drugstore and $100 to watch movies, at home or at the theater. The winner is:
Chase Rewards Plus Visa, which gives a 5% rebate on all the basics -- gas, groceries and drugstore items -- plus 1% on other purchases.Total annual rebate in this scenario is: $493. (Not a pocket change).
The runner up is *my current Cashback card*, Citi Dividend Platinum Select. (5% rebate on purchases of gas, groceries and drugstore items, plus 1% on everything else.) Annual rebate cap of $300.
Since I don't reach that $300 annual cap, I think I'll stick with Citi card. I used to have a Chase Perfect Card till a few years back which gave pretty nice cashback at that time but I wasn't very impressed with their customer service. The worst case was when they didn't update my billing address in their recoreds though I updated through their website.