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Uber Visa Card Review: Uber’s First Credit Card Offers a Lot for Millennials to Love

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer. This site may be compensated through a credit card issuer partnership.

The rumors were true. Uber’s made the leap from the smartphone in your pocket to the wallet in, well, your other pocket.

The ride-hailing company teamed up with Barclays, the credit card division of UK-based Barclays PLC, to launch an excellent no-fee rewards credit card for millennials, urbanites and business travelers alike. The new offering, dubbed the Uber Visa Card, became available nationwide Nov. 2, 2017.

Uber’s first branded credit card lets cardholders earn 4% back on dining, 3% on hotels and airfare, 2% on online purchases including Uber, online shopping and video and music streaming services, and 1% on most everything else. Individually, the bonus categories are similar to those of a few existing no-fee cards with special category bonuses. But the Uber Visa Card’s 4-3-2-1 cashback rewards structure makes it a leading bonus category rewards credit card.

And that 4% cashback bonus makes the Uber Visa Card a leader in dining rewards.

Heavy Uber-app users need look no further for a cashback offering. However, to get the best bang for their buck, they should pair the Uber Visa Card with a flat-rate 2% cashback card such as the Citi® Double Cash Card – 18 month BT offer*  (Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay.) or PayPal Cashback Mastercard®.

Uber Visa Card

The information related to Uber Visa Card has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication. Terms Apply.

Uber Visa Card

Regular Purchase APR
17.24% - 27.99% Variable
Annual fee
$0
Rewards Rate
5% back in Uber Cash on Uber rides, Uber Eats, and JUMP, 3% in Uber Cash on restaurants, bars, hotels, and airfare, and 1% back in Uber Cash on all other purchases.

Part I: Card benefits at a glance

The Uber Visa Card boasts an impressive 4-3-2-1 rewards program, as described above, in addition to other bonuses. But those aren’t the only perks this car packs. The company is clearly making a play for millennials, with unique benefits such as account credits for digital subscription services (a la Netflix or Hulu) and mobile phone protection.

With its rewards package, the Uber Visa Card could act as bait to convince some millennials to use credit more often. (Recent research shows this generation favors debit and cash for everyday purchases.)

Cashback rewards

The pros

The cons

  • Unlimited 4% cash back on dining and takeout.
  • Unlimited 3% on hotel and airfare
  • Unlimited 2% back on online purchases including Uber.
  • Unlimited 1% back on all other purchases.
  • No annual fee
  • No foreign transaction fees.
  • Earn $100 after spending $500 on purchases in the first 90 days after opening an account.
  • Cardholders who spend $5,000 or more per year, are rewarded with a $50 credit to use on digital subscription services.
  • Cardholders who use the card to pay their phone bill each month also get up to $600 for mobile phone supplemental insurance.
  • Cardholders can only redeem up to $500 worth of points per day for Uber Credits and bank deposits.
  • Online limitations to those 2% cash-back rewards.
  • No interest-free balance transfer period.

High rewards for no fee

The Uber Visa Card grants consumers comparatively lucrative ongoing-bonus-category rewards for no annual fee, and the card charges no foreign transaction fees. That’s rare, even in a market where banks are spending more and more on credit rewards to attract consumers.

The card that comes closest to offering a similar level of bonus rewards is the Chase Sapphire Reserve®*. It earns users an annual $300 travel credit, unlimited triple points on dining and travel, and 1% back on all other purchases. But it charges a hefty $450 annual fee.

If you don’t have an extra $450 in your budget but still want to earn big on dining and travel, the no-fee Uber Visa Card may be the better choice.

Chase Sapphire Reserve® altered one cardholder perk in January – the lucrative 100,000-point-bonus signup offer. After less than a year on the market, Chase cut back a 100,000-point Ultimate Rewards bonus after spending $4,000 within three months to just Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.

An Uber spokesperson tells MagnifyMoney that the Uber Visa Card’s rewards are not temporary, and there are no plans afoot to change them.

It’s important to note the Chase Sapphire Reserve® does offer other traveler perks, such as $300 in statement credits for travel reimbursements per year, a $100 statement credit for applying for Global Entry or TSA PreCheck, and several travel protection benefits. If you use those perks, it may be worth it to you to pay the beefy annual fee for the Chase Sapphire Reserve®.

4% cash back on dining

The Uber Visa Card awards a whopping 4% unlimited cash back on dining, which includes restaurants, cafes, bars and even takeout like UberEATS. The category’s cashback rate leads the industry, beating the AARP® Credit Card from Chase Bank and Costco Anywhere Visa® Card by Citi*, which award only 3% cash back on dining.

The Uber Visa Card also beats the Chase Sapphire Reserve®‘s points racked up for dining charges.

As mentioned, the Uber Visa Card awards 4% on takeout, too, and millennial cardholders may enjoy this perk the most. According to a recent Bureau of Labor Statistics survey, the average millennial spends about $3,416 on food away from home annually. If a cardholder spends a monthly $285 on dining, he or she will earn about $11.38 a month, or $136.56 in cash back annually.

3% cash back on hotel and airfare

Cardholders earn 3% cash back on hotel and airfare purchases made using the Uber Visa Card. Another bonus for millennials: Cash back applies to vacation home rental services, like Airbnb.

According to travel website Hipmunk, nearly three-fourths of millennial travelers have used a vacation rental service like Airbnb while traveling for work, compared to only 38% of Gen-Y and 20% of Boomers. And, about 81% of millennial travelers said they would add extra time to business trip to make some room for leisure.

While the Uber Visa Card’s 3% offer on airfare and hotels is a good offer for the average frequent flyer, consumers can find the same deal with some other no-fee cards, like the AAA Member Rewards Visa and Costco Anywhere Visa® Card by Citi.

Beware: Although it offers the same amount of cash back on travel, the Chase Sapphire Reserve® technically beats out the Uber Visa Card when cardholders use their points for travel rewards.

With Uber, 1 point = $0.01, but if users redeem points using the Chase Ultimate Rewards® portal 1 point = $.015, so your points go about 50% further with Chase, allowing cardholders to purchase more with the same point value. Put another way: A 50,000-point bonus is really worth $750, instead of $500.

Up to $50 streaming credit bonus

Here’s a perk you won’t find on many rewards cards these days.

If a cardholder spends $5,000 or more in a cardmembership year — the 12 consecutive months following your account’s anniversary date — he or she stands to earn up to $50 for digital streaming purchases. Cardholders can earn the subscription credit each year.

The $50 credit is automatically applied as a statement credit for eligible digital subscription services once the cardholder meets the $5,000 spending threshold. If the cardholder hasn’t made $50 worth of eligible purchases by the time he/she spends $5,000, the result is a statement credit for any new eligible digital subscription services charged to the card up to $50.

Cardholders can track their progress toward the annual spending threshold on BarclaycardUS.com.

Up to $600 worth of mobile phone insurance coverage

When cardholders use their Uber Visa Card to pay for their monthly wireless bill, they receive up to $600 for mobile phone damage or theft for each phone listed on the wireless account. Coverage begins one month after the first bill was charged to the Uber Visa Card.

Depending on the kind of coverage a cardholder currently has through a carrier, those who take advantage of this perk could save a good chunk of money. Those under one of the four major carriers could see savings of $7 to $15 a month for a single device or up to $35 a month to cover up to three devices on one account.

There is a $25 deductible to use the protection. After that is paid, the protection covers up to $600 per claim on up to two claims in a 12-month period. If the phone has to be replaced, the protection awards the suggested retail value of the replacement phone, up to the $600 maximum per claim.

2% cash back on online purchases

The Uber Visa Card pays cardholders 2% cash back on online shopping, purchases made through Uber, video and music streaming services and online services like Instacart and TaskRabbit.

The cool thing about this perk is that cardholders can earn cash back on subscription services like Netflix, Amazon Prime and Spotify. Millennials, the leaders of the cord-cutting movement, will likely benefit by simply “setting and forgetting” their Uber Visa Card to pay for their favorite streaming services.

Update: Barclays sent cardholders an email Dec. 5 saying “using a third party payment method including PayPal, Venmo, Apple Pay, Samsung Pay, and Android Pay will now earn 2% back.” Take note: Using a credit card to make a person-to-person (P2P) transfer often carries a fee of about 3% of the transaction. Be sure to review the cards terms & conditions for details.

The 2% cash back on online purchases is good, but the bonus category offer isn’t a leading rate. Consumers who don’t do all their shopping online could benefit more from cashback options that earn double points on all purchases, not just those made online, like the Citi® Double Cash Card – 18 month BT offer, Fidelity® Rewards Visa Signature® Card, or PayPal Cashback Mastercard®.

1% cashback on all other purchases

The Uber Visa Card still rewards spending if you don’t purchase in one of the bonus categories,. The card rewards cardholders 1% back on all other purchases, so it’s a good go-to card for everyday purchases, in addition to bonus-category buys. The 1% offer isn’t very competitive, as there are many existing cards that offer 2% on all purchases, but it ensures cardholders earn at least a little something on everything they buy with the Uber Visa Card.

Part II: Applying for the Uber Visa Card

The Uber Visa Card opened for applications Nov. 2, 2017. Interested applicants can apply for the unsecured rewards card online or directly through the Uber phone app and see an approval within minutes. The in-app application may be more of a win for Uber than for millennials, but it makes the application process easy for anyone who already has the Uber app, so may appeal to digital natives, too.

Once the application is approved, the card is made available for use immediately on rides and UberEATS purchases made through the Uber application on the cardholder’s mobile device. Cardholders should receive a physical card in the mail within 1 – 2 weeks of approval.

What it takes to qualify

Borrowers with higher credit scores are more likely to qualify for the lower interest rates, while those with lower scores are likely to qualify for the higher APR. At this time, there is not a way for applicants to check to see if they prequalify.

This card is best for …

The Uber Visa Card is best for the regular Uber customer who dines out often, frequently travels for work, handles most shopping and bill paying online, and pays his/her balance in full each month. The unsecured rewards credit card’s features will likely hold the most appeal for traveling business people and city-dwelling millennials.

Consumers who spend heavily on dining, travel and online purchases would have the best shot at maximizing the Uber Visa Card’s rewards offers. However, the benefit is canceled out if a user carries a balance, thanks to a high interest charge on purchases.

Uber loyalists will benefit most from Uber app-centric perks like the ability to manage and redeem point using the app, and redeem rewards for Uber Credits for Uber rides and UberEATS.

Again, millennials may reap the greatest reward here as they more likely to use ride-hailing services like Uber on a regular basis. According to Pew Research, 7% of all 18- to 29-year-olds use ride-hailing on a daily or weekly basis; that figure rises to 10% among 18- to 29-year-olds living in urban areas.

Depending on how much an Uber app user spends and how often Uber gets used.

Those who aren’t frequent users of Uber’s app may benefit from earning cash back on spending in the card’s bonus categories, but may not realize as much value in the various app-centric perks.

Part III: Redeeming rewards

Cardholders can redeem cash back via Uber credits, gift cards, statement credit or direct deposit. Cardholders can start redeeming cash back for Uber credits once their cashback balance reaches $5, or 500 points.

As long as the account is active and in good standing, points never expire. The cashback balance must reach $25 before users can access it for gift cards, statement credit or direct deposit.

Cardholders are able to redeem rewards through the Uber app, online through the cardholder portal at BarclaycardUS.com, or by calling the customer service number on the back of the card. Cashback redemption is capped daily at $500.

If there are any authorized users on the card, they can earn and redeem points for gift cards and cash back, but not for Uber credits. Each cashback point is equivalent to $0.01 (2,500 points = $25).

How to redeem rewards for Uber credits in the Uber app

Uber lets cardholders directly manage the rewards points they’ve accumulated for Uber credits, gift cards or cash back through the Uber phone application. Users must first add the Uber Visa Card as a payment method.

Once the card is added, the user will tap on the Barclays mobile app menu to see a points balance. After tapping the points balance, the user should be prompted to select the amount to be redeemed.

Uber says the redemption should happen within seconds, but may take up to 24 hours to be applied to the account. The process is demonstrated in the GIF below.

Part IV: Pros and cons

What we like about the Uber Visa Card

No annual fee

The Uber Visa Card charges no annual fee, which is unusual for a card this loaded with rewards and bonuses. Cardholders can make the most of this no-fee rewards card if they charge only items that fall into the bonus rewards categories and pay the balance in full each month.

4-3-2-1 rewards perks

The Uber Visa Card awards holders a high return on most purchases. In addition, rewards are unlimited and never expire. The card’s 4-3-2-1 cashback rewards program is appealing.

No foreign transaction fee

Cardholders can swipe to pay for items and services overseas without incurring foreign transaction fees. The lack of this fee combines with the 3% travel rewards bonus category to make the Uber Visa Card a good travel companion. Purchases made overseas also earn cashback rewards.

Apply directly in the Uber app

Uber’s 40 million active riders won’t need to rush to a computer to apply for the Uber Visa Card once the application opens Nov. 2. They can simply apply through Uber’s phone application. Uber claims users will be able to submit an application and see a decision within minutes on the app. Users can also apply for the Uber Visa Card online.

Immediate access

Approved applications are granted access to the funds immediately. Users can add the card as a payment option in the Uber mobile application for immediate use on rides and UberEATS orders.

Immediate access comes in handy if an applicant is in need of the funds ASAP. But it’s unclear if cardholders will be able to use the card immediately on purchases outside the Uber app, too.

Exclusive access to events and offers

Uber Visa Card users will get exclusive invites to events and offers in select U.S. cities. Uber app users may already be familiar with this perk if they have checked out Uber’s Visa Locals Offers. Cardholders earn Uber credit when they visit participating stores and restaurants if they pay with a Visa card (like the Uber Visa Card). Uber’s branded credit card is a Visa, so cardholders can earn rewards — like 10% Uber rewards if you shop at Whole Foods — plus the regular purchase rewards if they use the Uber Visa Card at checkout.

What to watch out for with the Uber Visa Card

$500 daily redemption limit

Cardholders can only redeem up to $500 worth of points per day on Uber Credits and cash back for a bank deposit. This may prove problematic if one wants to use points to redeem more than $500 in cash back rewards via bank deposit. There is no daily limit for cash back as a statement credit or for gift cards.

2% cash back on online purchases

2% cashback on online purchases is good, but the bonus categories offer isn’t a leading rate in itself.

1% cashback on all other purchases

For all other purchases, 1% isn’t a very competitive offer.

No interest-free balance transfer period

The Uber Visa Card is not a good option for anyone looking to consolidate credit card debt using a balance transfer. Unlike with the Citi® Double Cash Card – 18 month BT offer, Uber Visa Card cardholders don’t pay 0% interest on balance transfers for a period. The card charges the greater of $10 or 3% of the transfer amount to transfer a balance, followed by the regular 16.24% – 24.99% variable APR the cardholder is charged on all other purchases.

Part V: Alternatives to the Uber Visa Card

Consumers who don’t use Uber, don’t dine out often, don’t travel much or don’t make most of their purchases online may not find the Uber Visa Card’s cashback offer very appealing. While they can still earn a flat 1% cash back on all purchases they won’t be able to benefit much from the card’s bonus categories. Using a flat-rate cashback card with a higher reward, or one that offers a high cashback bonus in a category they use more often, may be beneficial to those consumers.

Flat-rate cashback alternatives

A flat-rate cashback card like the leading Citi® Double Cash Card – 18 month BT offer and PayPal Cashback Mastercard® is a great option for anyone who wants to earn a reward on all purchases without thinking about bonus categories.

Citi® Double Cash Card – 18 month BT offer

Read Full Review

The information related to Citi® Double Cash Card – 18 month BT offer has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication. Terms Apply.

Citi® Double Cash Card – 18 month BT offer

Regular Purchase APR
15.49% - 25.49% (Variable)
Annual fee
$0
Rewards Rate
Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay.
Credit required
good-credit
Excellent, Good

The Citi® Double Cash Card – 18 month BT offer is the second-highest no-fee flat-rate cashback credit card on the market. The card lets you Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay., totalling 2% cashback. It also offers an introductory 0% for 18 months on Balance Transfers so it’s a good choice for those seeking to consolidate debt. Borrowers with Excellent, Good credit scores may be approved for the Citi® Double Cash Card – 18 month BT offer.

PayPal Cashback Mastercard®

Regular Purchase APR
21.99% - 28.99% Variable
Annual fee
$0
Rewards Rate
Get 2% cash back every day, every time you use your card.

Cardholders with a PayPal Cashback Mastercard® can get 2% cash back every day, every time you use your card. All for a $0 annual fee. The card charges slightly higher variable interest rates than the Uber Visa Card — 21.99% - 28.99% Variable — based on creditworthiness. Borrowers with fair, good or excellent credit scores may qualify for the PayPal Cashback Mastercard®.

Similar to the Uber Visa Card, those approved for the PayPal Cashback Mastercard® can use the card immediately to pay for purchases through PayPal’s online and mobile applications. Cash back can be redeemed to the cardholder’s PayPal balance. From there it can be sent to the user’s bank account or used to send money to peers or make purchases via PayPal.

Fidelity® Rewards Visa Signature® Card

Regular Purchase APR
15.74% Variable
Annual fee
$0
Rewards Rate
Unlimited 2% cash back on everyday purchases.

The Fidelity® Rewards Visa Signature® Card earns cardholders unlimited 2% cash back on everyday purchases. The annual fee is $0. The card is best for existing Fidelity customers, since the cashback earned has to be deposited into a Fidelity account.

Only borrowers with excellent credit should apply for this card. Fidelity also bases its credit limits on the total amount of assets it is managing on a consumer’s behalf, so those approved may still be disappointed in the limit they receive if they don’t have much money with Fidelity already.

Bonus category cashback alternative

The bonus categories the Uber Visa Card offers may not appeal to everyone hoping to earn cash back on the purchases they make most, therefore bonus category cashback cards can be a good alternative.

Best for supermarkets and fuel:

Blue Cash Everyday® Card from American Express

APPLY NOW Secured

on American Express’s secure website

Terms Apply | Rates & Fees

Blue Cash Everyday® Card from American Express

Intro Purchase APR
0% for 15 months
Intro BT APR
0% for 15 months
Regular Purchase APR
14.49%-25.49% Variable
Annual fee
$0
Rewards Rate
3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). 2% cash back at U.S. gas stations and at select U.S. department stores. 1% cash back on other purchases.

The Blue Cash Everyday® Card from American Express is a good alternative for consumers who spend more money on grocery than dining and more running around IRL on gas than making online purchases. The card offers cardholders 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). 2% cash back at U.S. gas stations and at select U.S. department stores. 1% cash back on other purchases.
The card has a $0 annual fee. The card also awards new cardholders to $150 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.

*The information related to Chase Sapphire Reserve®, the Citi® Double Cash Card – 18 month BT offer and Costco Anywhere Visa® Card by Citi has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Brittney Laryea
Brittney Laryea |

Brittney Laryea is a writer at MagnifyMoney. You can email Brittney at [email protected]

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Credit Cards

American Express Cash Magnet Card Review: What You Need to Know

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer. This site may be compensated through a credit card issuer partnership.

American Express Cash Magnet® Card

APPLY NOW Secured

on American Express’s secure website

Terms Apply | Rates & Fees

American Express Cash Magnet® Card

Intro Purchase APR
0% on purchases for 15 months
Intro BT APR
0% on balance transfers for 15 months
Regular Purchase APR
14.49%-25.49% Variable
Annual fee
$0
Rewards Rate
Unlimited 1.5% Cash Back on your purchases
Credit required
good-credit
Excellent/Good

American Express is plunging further into the cashback rewards credit card segment with the American Express Cash Magnet® Card – $150 Welcome Offer. This card provides stiff competition for three other popular cashback cards: the Blue Cash Everyday® Card from American Express, the Citi® Double Cash Card – 18 month BT offer and the Chase Freedom Unlimited®. All three offer cashback programs and don’t charge an annual fee. But what sets the new American Express Cash Magnet® Card – $150 Welcome Offer apart from the pack? We’ll cover that and more in this review.

How the American Express Cash Magnet® Card – $150 Welcome Offer stacks up

American Express Cash Magnet® Card – $150 Welcome Offer

Blue Cash Everyday® Card from American Express

Citi® Double Cash Card – 18 month BT offer

Chase Freedom Unlimited®

Annual Fee

$0

$0

$0

$0

Regular Purchase APR

14.49%-25.49% Variable

14.49%-25.49% Variable

15.49% - 25.49% (Variable)

16.74 - 25.49% Variable

Rewards

Unlimited 1.5% Cash Back on your purchases

3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). 2% cash back at U.S. gas stations and at select U.S. department stores. 1% cash back on other purchases.

Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay.

1.5% cash back offer.

Welcome Offer / New Cardmember Offer

$150 statement credit after you spend $1,000 or more in purchases with your new Card within the first 3 months of Card Membership

$150 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.

No bonus

$150 Bonus after you spend $500 on purchases in your first 3 months from account opening. Earn unlimited 1.5% cash back on all purchases.

Foreign Transaction Fee

2.7% of each transaction after conversion to US dollars.

2.7% of each transaction after conversion to US dollars.

3%

3% of each transaction in U.S. dollars

What we like about the card

The Welcome Offer. Like many rewards cards on the market today, the American Express Cash Magnet® Card – $150 Welcome Offer is looking to woo new cardmembers with a Welcome Offer — $150 statement credit after you spend $1,000 or more in purchases with your new Card within the first 3 months of Card Membership

Simplicity. Earn a straightforward Unlimited 1.5% Cash Back on your purchases Unlike rotating category cards, you don’t have to worry about remembering points in different spending categories, nor do you have to sign up quarterly to get higher rewards.

Good intro offers. The American Express Cash Magnet® Card – $150 Welcome Offer comes with an intro 0% on purchases for 15 months on purchases and an intro 0% on balance transfers for 15 months on balance transfers (after, 14.49%-25.49% Variable APR).

Flexible repayment. The card offers access to the Plan ItSM feature, which gives cardmembers flexibility by allowing you to create up to 10 payment plans for purchases costing $100 or more. You’ll have a fixed finance charge each month a plan is active.

Some travel perks. It comes with the familiar rewards and protections you expect from American Express, including auto rental insurance, Global Assist® Hotline, purchase protection and access to presale tickets to events like concerts and sporting events.

What could be better

You get your cash back as a statement credit. You can’t redeem it on things like airline tickets, hotel stays, gift cards and merchandise. You also can’t transfer it to airline or hotel loyalty programs. However, the card may occasionally offer other ways to redeem reward dollars, like gift cards or merchandise.  Note: cash back cannot be used to pay your minimum due.

You can do better than 1.5% cashback these days. If you’re looking for a higher cashback rate, check out the Citi® Double Cash Card – 18 month BT offer as an alternative, where you Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay.

Not the best for travel. If you travel regularly, this card doesn’t offer things like trip delay/interruption or baggage insurance like other travel credit cards. And you’ll pay a foreign transaction fee of 2.7% of each transaction after conversion to US dollars..

Check out our roundup of the best travel rewards cards.

Alternatives to the American Express Cash Magnet® Card – $150 Welcome Offer:

Blue Cash Everyday® Card from American Express

APPLY NOW Secured

on American Express’s secure website

Terms Apply | Rates & Fees

Blue Cash Everyday® Card from American Express

Regular Purchase APR
14.49%-25.49% Variable
Intro Purchase APR
0% for 15 months
Annual fee
$0
Rewards Rate
3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). 2% cash back at U.S. gas stations and at select U.S. department stores. 1% cash back on other purchases.
Blue Cash Everyday® Card from American Express: If you’re looking for a flat-rate cashback card for supermarket spending, this is a hard one to beat. It also carries a $0 annual fee and a welcome offer that lets you $150 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.

Citi® Double Cash Card – 18 month BT offer

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The information related to Citi® Double Cash Card – 18 month BT offer has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication. Terms Apply.

Citi® Double Cash Card – 18 month BT offer

Regular Purchase APR
15.49% - 25.49% (Variable)
Annual fee
$0
Rewards Rate
Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay.
Credit required
good-credit
Excellent, Good
Citi® Double Cash Card – 18 month BT offer: The card doesn’t offer a sign-up bonus, but you have the potential to earn a higher cashback rate. It offers the same cashback rewards simplicity as the American Express Cash Magnet® Card – $150 Welcome Offer, but at a better rate. Cash back can be redeemed for statement credits or credited to either your linked Citi savings or checking account, or to a checking account from which you have paid a card bill at least two times, among other options.

Chase Freedom Unlimited®

LEARN MORE 

The information related to Chase Freedom Unlimited® has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication. Terms Apply.

Chase Freedom Unlimited®

Regular Purchase APR
16.74 - 25.49% Variable
Intro Purchase APR
0% Intro APR for 15 months
Annual fee
$0
Rewards Rate
1.5% cash back offer.
Credit required
good-credit
Excellent/Good

Chase Freedom Unlimited®: This card looks similar to the American Express Cash Magnet® Card – $150 Welcome Offer. If you use the Chase Freedom Unlimited® in combination with your existing Chase Sapphire Preferred® Card or Chase Sapphire Reserve® card, there are opportunities to earn even more cash back. You can do this by combining the cash back on the Chase Freedom Unlimited® with points earned on the Chase Sapphire Preferred® Card or Chase Sapphire Reserve®. You can then use those points in the Chase Ultimate Rewards® portal, where you can get 25% to 50% more value when you redeem them for airfare, hotels, car rentals and cruises. You can also transfer those points to four hotel or nine airline partners.

The information related to the Chase Sapphire Preferred® Card and Chase Sapphire Reserve® has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Our final take

For those who are loyal to American Express-branded cards, the new American Express Cash Magnet® Card – $150 Welcome Offer could be a good proposition. It offers simple cashback rewards with a $0 annual fee. It has a limited time welcome offer that can put extra rewards in your pocket if you spend the amount required to get it.

The American Express Cash Magnet® Card – $150 Welcome Offer comes with some travel and protection perks that aren’t offered by other credit cards in the no-annual-fee, cashback rewards category. And getting flexibility in how you make payments on the card is something not offered by competitors.

So if you want a simple cashback rewards card with decent perks, this is a good option. But if you spend more on things like travel and dining, and you don’t need the payment flexibility option, there are more robust card offerings out there.

Advertiser Disclosure: The products that appear on this site may be from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all financial institutions or all products offered available in the marketplace.

Benét J. Wilson
Benét J. Wilson |

Benét J. Wilson is a writer at MagnifyMoney. You can email Benét J. at [email protected]

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Credit Cards

6 Credit Card Perks You Should Know About

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Earning rewards is probably one of the most talked about benefits of using a credit card aside from being able to use it to increase your credit score.

While earning points and cash back that you can redeem for travel, gift cards, and other rewards is nice, that’s not the only benefit involved with choosing to use a credit card.

In many cases, a credit card can actually be safer than cash or a debit card or even provide you with additional savings. Here are six credit card perks you should know about if you want to make the most out of using your credit card(s).

Purchase Protection

If you need to purchase something valuable, you might want to do it on a credit card if the card offers purchase protection. Many credit cards offer purchase protection for items that are lost, damaged, or stolen as long as you paid for the item with the credit card.

Each credit card has different policies and may reimburse you up to different amounts. For example, Chases credit card holders can file a claim to report any eligible personal property that has been damaged or stolen, or involuntary and accidental parting with property within 120 days from the date of purchase. They can be reimbursed for the amount paid for the item up to $500 per claim and up to $50,000 per account.

Price Protection 

With credit card price protection benefits, you could receive a refund if the price drops on an item you purchased with your card. This can happen a lot around the holidays, so it’s a good benefit to have.

With most credit cards, there is a time limit to take advantage of price protection, which is usually anywhere from 30 to 90 days after you make the initial purchase. That being said, you won’t get price protection for an item you purchased last year that suddenly went on sale the other day.

With price protection, you can save quite a bit if you purchase a big item like an appliance or a TV on your credit card and the price suddenly drops. That’s why it’s best to hold onto your receipts for at least 30-90 days depending on your credit card’s price protection terms.

Extended Warranty 

An extended warranty offered by your credit card company can be very similar to a manufacturer’s warranty in that it can add up to a year of additional coverage for certain purchases.

With some purchases, getting an extended warranty is definitely worth it even if it costs a little extra money. However, if your credit card offers an extended warranty, you may not need to purchase one on your own.

Credit Monitoring 

Monitoring your credit is very important because it can help you know where you stand and help you avoid situations like identity theft. Monitoring your credit is a good habit to adopt so you can track your score and see how your spending and payment activity affects it.

Instead of having to pay a monthly fee to have your credit monitored by a third-party service, you can see if your credit card issuer provides this service as a courtesy to cardholders.

Select Citi credit cards also provide you with your FICO® score for free.

Rental Car Insurance

If you’re traveling and need a rental car, most credit cards offer free rental car insurance coverage as long as you pay for the rental car with your card.

The rental car insurance provided by your credit card can include coverage for collision damage or theft, but there may be some limitations to the coverage so don’t assume certain things are covered like the loss of items during a collision or personal injuries.

Some credit cards with rental insurance options may not even cover cars that aren’t standard, like large trucks or luxury car rentals, so it’s important to thoroughly read your credit cards terms if you’re thinking of taking advantage of this feature.

Airport Lounge Access 

Why pay to access an airline’s lounge when many credit cards provide you with this option for free?

Airport lounges are a great amenity to check out when you’re traveling or have a long layover. They tend to offer exclusive amenities including Wi-Fi, desks, comfortable seating, personal assistance, arrival recovery, and more.

The Platinum Card® from American Express card includes complimentary airport lounge access.

Final Word

It pays to read the fine print when reviewing your credit card terms because you could learn more about additional free benefits you can take advantage of.

Carefully review the card agreement details for any new or existing credit cards you have. You may not need benefits like rental car insurance or purchase protection all the time, but when you do, you’ll know how to access them for free with your credit card.

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Chonce Maddox
Chonce Maddox |

Chonce Maddox is a writer at MagnifyMoney. You can email Chonce at [email protected]