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Posted by on Apr 30, 2013 in Cash Back, Credit Cards, Fidelity American Express, Priceline Rewards Visa, ShopDiscover | 0 comments

Priceline Rewards Visa is the Best 2% Cash Back Credit Card

When I explained why you should open the Discover It credit card but rarely use it, I mentioned that you should open that credit card to access the ShopDiscover cash back portal plus other perks but not for the 1% cash back on spending. That’s because 2% cash back credit cards exist, and you are much better off using those credit cards if you want simple cash back rather than dealing with miles and points. In particular, there are two 2% cash back credit cards you should learn about but only one worth having. The two cards are the Priceline Rewards Visa and the Fidelity American Express, but you should only open the Priceline Rewards Visa.

[Update 5/25/13] Unfortunately, the Priceline Rewards Visa no longer offers 2% cash back. The credit card now only offers 1% cash back.

 

Priceline Rewards Visa

  • 5,000 points signup bonus (redeemable for $50)
  • 2% cash back on everything
  • 5% cash back on Priceline Name Your Own Price purchases.
  • It’s a Visa so accepted almost everywhere that accepts credit cards
  • No annual fee

 

Fidelity American Express

  • 2% cash back on everything
  • No annual fee
  • American Express card so it is eligible for American Express promotions, such as Small Business Saturday.
  • No signup bonus
  • American Express not as widely accepted as Visa or MasterCard
  • Requires you to open a Fidelity cash management account where your 2% cash back will be credited
  • Despite being an American Express card, the bank that handles this card is FIA Card Services otherwise known as Bank of America, so the customer service is not good especially compared to American Express, which has fantastic purchase protection and customer service

 

The Main Point

As you can see, the Priceline Rewards Visa has almost no negatives. It’s a 2% cash back Visa credit card that even has a small signup bonus and gives you 5% cash back when using Priceline’s Name Your Own Price for travel, such as your honeymoon. Name Your Own Price can help save you a lot of money if you know how to use it correctly, and I’ll try to talk about that in a future post.

On the other hand, the Fidelity American Express does get you 2% cash back but is a hassle to deal with since you need to open up a Fidelity cash management account as well. The 2% cash back will automatically be credited to this cash account every time you reach at least $50 since Fidelity’s end goal is to get you to use them as your broker, but you don’t have to deal with that. Just get the Priceline Rewards Visa instead; it’s superior on almost every level.

One last note, you may see another offer for the Priceline Rewards Visa, which offers an additional 5,000 bonus points (redeemable for $50) after you spend $1,000 within 90 days. This offer, however, only gives you 1% cash back rather than 2% so be careful and sign up for the right offer! I guess some people would rather have the bigger 10,000 points signup bonus, but for me, I would personally go for the 2% cash back.

 

Disclaimer: I receive referral credit for some of the links above if you sign up through them, which I appreciate

 

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