Check Your Credit Cards for Annual Fee Refunds, Retention Offers and New Category Bonuses

The economy is in a definite downturn due to COVID-19, and many people are doing far less traveling and less travel-related spending than normal.

In response, credit card companies are working hard to entice people to keep their credit cards rather than close their accounts.

Many of the big card issuers have proactively issued statement credits or other bonuses, or added temporarily enhanced benefits for all customers of certain cards.

For other card issuers or other credit cards, customers need to call and ask about offers to see what they may be targeted to receive.

Many cards are offering additional bonuses in categories in which those cards historically have not offered bonuses.  This is to encourage customers to use the card more.  For example, Chase is offering 5 Ultimate Rewards points per dollar on grocery store purchases for the new few months.  Similarly, American Express is offering 4 Delta Sky Miles per dollar on grocery store purchases with their Delta co-branded cards.

Another benefit is that the travel credit on certain cards can be triggered for spending that is not travel-related.  For example, the Citi Prestige card $250 travel credit can be used at supermarkets and restaurants.

This post is a heads-up, not a comprehensive roundup of all the changes on the major cards.

In light of recent changes, it behooves all of us to check our credit card portfolio and figure out which cards make the most sense for certain types of spending.

Sample articles with more details:

The Points Guy - temporary perks on Amex cards

Marketwatch - annual fee partial rebates on certain cards

Frequent Miler - COVID-related Credit Card Benefit Enhancements - Ultimate Guide 

The Best Cash Back Business Credit Cards

There are lots of credit cards that earn generous amounts of travel rewards.  Likewise, there are lots of cash back-earning credit cards.  And there are lots of business credit cards aimed at small business owners.

What there is NOT a lot of, is cash back business cards.  In the past few days, I researched cash back business credit cards and came up with what I believe are the three best such cards available to American customers.

Reminder:  One need NOT have a business tax ID (aka EIN) to get approved for a business card.  Generally speaking, a history of at least a few years' worth of revenue and expenses of a few thousand dollars annually at minimum, along with a solid (740+ certainly should do the trick) credit score should result in approval of a business credit card application to most of the major U.S. credit card issuers - Amex, Chase, Citi, Capital One, and others.


Reminder:  personal credit cards can be used for 'business spend' just as easily as business cards can.  There are not a lot of practical differences between personal and business credit cards.  One of the big ones is that business credit cards often lack some of the consumer protections that are required by law to be provided on personal credit cards.  Authorized user cards can be ordered for personal cards, just as with business cards.  And hundreds of thousands of dollars of spend can be put on personal cards, just as with business cards -- assuming proper credit line and management of it.

The Best Three Cash Back Business Credit Cards

Of these three options, the Amex one I can refer; the other two I cannot.  All three cards will allow pretty solid accumulation of cash back via spending.  And all three have at least a $500 signup bonus after hitting the minimum spend in first three months.

• Capital One Spark Cash
• Amex Blue Business Cash
• Chase Ink Cash

Capital One Spark Cash

Pros

• 2% cash back on everything, no limit - to my knowledge, the only business card on the market like this
• $500 signup bonus after $5k spend.
• Additional $1,500 signup bonus after $50k total spend in first year.

Cons

• $95 annual fee after first year.
• No category bonuses, just straight 2% on everything.

More Information

• https://frequentmiler.boardingarea.com/C1SCbiz/#Goto

Amex Blue Business Cash

Pros

• No annual fee
• 2% cash back on first $50k purchases per year
• $500 cash back signup bonus ($250 after $5k spend fairst 3 months, another $250 after another $10k spend in first year)

Cons

• Only 1% cash back on purchases beyond $50k in a year

Referral
My referral link (click 'all business cards to find the Blue Business Cash.  I recently got the Blue Business Plus.  http://refer.amex.us/JASONWuBSY?XLINK=MYCP.  

More Information

• https://www.doctorofcredit.com/american-express-blue-business-cash-card-500-sign-up-bonus-available-via-incognito/
• https://frequentmiler.boardingarea.com/AmxBBC/#Goto

Chase Ink Cash

Pros

• No annual fee
• $500 signup bonus (usually only $300) after $3k spend
• Great bonus categories:  5X office supplies ⚬ 5X cellular/landline/cable (on up to $25,000 in total purchases in 5x categories annually)
• 2X gas and restaurants (up to $25k annually)
• Besides being able to use as cash back, technically the card earns Ultimate Reward points which can be super handy (e.g. if you have a Sapphire Preferred or Sapphire Reserve personal card, and could combine the points and use toward paid travel thru Chase travel portal

Cons

• Only 1% cash back on non-category bonused stuff

More Information

• https://frequentmiler.boardingarea.com/CIC/#Goto
• https://www.doctorofcredit.com/chase-ink-cash-500-public-online-offer/

Analysis

• Which is best for you?  That depends on your own personal circumstances.  How much will you spend, and how much in various categories.  You will have to decide which is best for your usage.
• Will you spend enough to offset the $95 annual fee on the Spark Cash?
• The category bonuses on the Chase Ink Cash are potentially very lucrative, if you'll have spend in those categories.  Otherwise, it probably isn't the best choice.
• If you are going to spend well beyond $50k a year, Spark could be the best bet - although you won't recover the $95 annual fee until you hit $60k spend, vs. the Amex no annual fee card.
• Blue Business Cash may be the safe bet for starters - unless the category bonuses on Chase Ink Cash can be leveraged.

Best Cash Back Credit Cards - late Dec 2018

Cash back credit cards are a dime a dozen.  With so many out there, which one is best?  In response to a friend asking about the best cash back credit card for a small business, today I did some research and came up with what I think are the best cash back credit cards worth signing up for right now.

Referral Links

The Chase Ink Business Preferred is the only card in this post for which I have a referral link.  If you decide to apply for this card, please use my link, as I'll earn 20,000 Chase points when you are approved!  The signup bonus via referral is 80,000 points - same as the public offer on the Chase website.

Chase Ink Business Preferred - referral link

General Comments

• Personal credit cards can be used for business expenses, and vice versa
• Business cards usually have larger signup bonuses than personal cards
• Signup bonuses on cash back credit cards are generally smaller than the signup bonuses on travel points credit cards
• Some cards allow their 'travel points' to be redeemed for cash back (usually at 1 cent per point)...these can be very flexible cards, but not ideal if you plan / want cash back as your rewards currency.  Chase Freedom Unlimited and Chase Ink Business Preferred are two great examples of this rare type of card that's flexible enough to provide the best of both worlds.
• Category bonuses can make a significant difference in the amount of rewards earned via card spend.  Many cards offer 5% cash back in certain categories. If you have expenses that may fall in dining, travel, gasoline, office supply, utilities, grocery...these categories often have category bonuses from various cards.  Some category bonuses are capped on a fairly low amount of quarterly or annual spend.
• How much annual spend do you anticipate?  Some cards have huge signup bonuses based on high initial spend requirements - e.g. Capital One Spark Cash.
• 2% cash back is the best flat rate out there for all spend (regardless of category).  1.5% cash back cards are much more common.
• More than 2% cash back overall is possible, by leveraging category bonuses (which rotate quarterly for some cards, vs. cardholder can choose desired categories for other cards) -- but the spend you'll have may not fit any of these categories.
• Will you need numerous authorized user cards for employees, or just one main card or maybe a second one?  Many business cards offer free employee cards, but some charge for that.

Bottom-Line Advice

• My personal strategy for anyone is to get a new card every year or two.
• The signup bonus from a new cash back card can be as much or nearly as much as the cash back earnings from a year's worth of spend on a card.  E.g. spend $30k a year, earn $450-600 at 1.5%-2% cash back.  A few cash back cards have $400-600 signup bonuses.
• Why not sign up for a new card every year or two, if this strategy could mean earning twice as much cash back as using the same card for several years?

Resources

• CardRatings.com best cash back cards - very good roundup of cash back cards, focused mostly on the good ones
• CompareCards.com Cash Back Cards List - good roundup of cash back cards, though many listed are not great choices
• Doctor of Credit best credit cards for various situations - great page with lists of good cards for people with spending focused in certain categories and other situations
• Frequent Miler best credit card signup offers - one of my favorite travel and credit card blogs.  This page requires some drill-down to find the cash back cards, though.
• CardMatch tool - see if you are targeted for potentially better offers than publicly available offers.    No credit pull.

Recommendations

These are in order, from best to least-best

1. Capital One Spark Cash - 2% cash back on everything.  Huge signup bonus if you can do huge spend.  $500 cash back bonus after $5k in first 3 months.  Additional $1,500 bonus after additional $45k ($50k total) in first 6 months.  Total cash back will be $3k ($2k bonus plus 2% from normal cash back earnings on the $50k spend).  Note, the similar Capital One Spark Miles has similar signup bonus.  $59 annual fee, waived first year.  Capital One Spark Cash - Doctor of Credit    Capital One Spark Cash - Frequent Miler
2. Chase Ink Business Preferred - huge $800 (80,000 Chase UR points, worth 1 cent each if cashed out) cash back sign-up bonus.  Flexibility to use rewards as Chase UR points.  $95 annual fee. Chase Ink Business Preferred - CardRatings.com
3. Discover it cash back - 1% cash back plus 5% rotating quarterly cash back categories.  Cash back in first year is doubled, so 2+% depending whether one earns any cash back from 5% categories.  Only 1% cash back after first year, though.  No annual fee. Discover it cash back - Frequent Miler (Possible to get $50 signup bonus via referral - check this Doctor of Credit page here.)
4. Citi Double Cash.  2% cash back on everything, no annual fee.  No signup bonus.  Good long term card due to flat 2% cash back and no annual fee, but compared with a card that has a $500+ signup bonus, it will take a while to 'break even' with this card instead. Citi Double Cash - Doctor of Credit
5. Capital One Savor Cash Rewards - $500 signup bonus.  Only 1% cash back on most stuff, but 4% on dining and entertainment, 2% grocery.  $95 annual fee waived first year.  Decent card for the signup bonus, but not a great long term card unless spending quite a bit on dining & entertainment.  Savor Cash Rewards - Frequent Miler
6. Chase Freedom Unlimited - 1.5% cash back.  No annual fee.  $200 signup bonus after $500 spend.  Best thing about this card is, if you have a Chase Sapphire Preferred, Ink Plus, or Reserve, you can use the earnings from Freedom Unlimited to convert into 1.5 Chase Ultimate Rewards points per dollar spend.  Chase UR points are great, flexible travel points generally considered to be worth about 2 cents each. Chase Freedom Unlimited - Frequent Miler
7. Capital One Spark Cash Select - no annual fee.  1.5% cash back on everything.  $200 cash back bonus after $3k spend in first 3 months.  Capital One Spark Cash Select - Frequent Miler
8. U.S. Bank Cash+ card - interesting twist - cardholder can select the desired bonus categories.  No annual fee.  $150 signup bonus.  5% back on $2,000 worth of combined purchases in two categories that you select quarterly; 2% back in one "everyday" category you select quarterly, such as gas or groceries; 1% back on everything else.  U.S. Bank Cash+ card - Value Penguin
9. U.S. Bank Cash 365 American Express card - $150 cash back after $500 spend in first 90 days.  1.5% unlimited cash back on everything.  No annual fee.  Good first-year card, especially for lower spenders.  E.g. spend $10k in first year.  Total cash back $300, i.e. 3%. U.S. Bank Cash 365 Amex card

Credit Card Bonus Offers Worth Signup Now

This is a roundup of several worthwhile credit card signup offers as of March 2018

Several credit cards are currently offering higher-than-usual signup bonuses.  For all cards, to get the signup bonus the cardholder must spend a certain amount within the first few months of holding the card.

These cards are offering bonus amounts at or near their respective highest signup bonus and therefore now is a good time to jump on any of these cards.  At one time or another, I've held all of these cards and personally recommend all of them as solid cards, especially with these increased signup bonuses.

• Citi ThankYou Premier - 50,000 ThankYou points
• Chase Sapphire Preferred - 60,000 Ultimate Rewards points
• SPG Amex Business - 35,000 Starpoints
• Delta Amex Platinum personal and business - 70,000 SkyMiles + $100 statement credit
• Delta Amex Gold personal and business - 60,000 SkyMiles + $50 statement credit
• Mercedes-Benz Amex Platinum - 60,000 Membership Rewards points

Citi ThankYou Premier - 50,000 ThankYou points

• 50,000 ThankYou points after $4,000 spend in first 3 months
• Annual fee $0 first year, $95 per year thereafter
• Earn 3X travel and gas - this is HUGE to get 3 points per dollar on travel and gasoline
• Earn 2X dining and entertainment
• Earn 1x everywhere else
• This is one of the best travel credit cards because of the great bonus categories and travel-related benefits for spending and the flexibility of Citi ThankYou points
• This card had a 50k signup bonus a couple years ago, but then it dropped to 40k and for many months the card had ZERO signup bonus because of its popularity
• More info here:  http://frequentmiler.boardingarea.com/2018/02/25/50k-points-w-citi-thankyou-premier-back

Chase Sapphire Preferred - 60,000 + 5,000 Ultimate Rewards points

• 60,000 Ultimate Rewards points after $4,000 spend in first 3 months
• $95 annual fee NOT waived the first year
• Earn 2x on travel and dining
• Earn 1x everywhere else
• Similar to the Citi ThankYou Premier - great all-around points-earning card with excellent travel-related benefits, but not as strong for bonus category earning
• If you do not want to pay the annual fee, use my referral link for 55k points total signup bonus with no annual fee first year.  50k points signup bonus with $4k spend in first 3 months.  Additional 5k points when adding an authorized user (free) and making 1 purchase with AU card in first 3 months  https://www.referyourchasecard.com/6/1LVJ1ZR9X6
• More info here:  http://frequentmiler.boardingarea.com/2018/02/26/65k-ultimate-rewards-w-new-sapphire-preferred-signup-bonus

UPDATE:  Chase has a targeted offer of 60,000 point signup bonus with $0 annual fee in 1st year.  Check your pre-qualified offers to see if you are targeted for this better-than-the-public offer https://creditcards.chase.com/prequalified-offers

SPG Amex Business - 35,000 points

• Offer ends 3/28/2018
• Spend $7,000 in purchases within first 3 months
• Annual fee $0 first year, $95 per year thereafter
• Starwood (their loyalty program is SPG, or Starwood Preferred Guest) was bought by Marriott, so the SPG-branded Amex credit cards will no longer be offered at some point in the not-too-distant future, so this is probably the last chance to get this card with what is tied for the highest every signup bonus.
• Starpoints are considered the most valuable of all travel points programs anywhere.  Points can be used for Starwood hotel group (Westin, Sheraton, etc) properties and also transferred into most airline mile programs at 20k Starpoints to 25k airline miles
• Earn 2x Starpoints on eligible purchases at SPG and Marriott properties
• Earn 1x Starpoints everywhere else
• Get credit for 2 stays and 5 nights toward elite status
• Sheraton Club Lounge Access when staying at Sheraton properties with a club lounge
• More info here:  http://frequentmiler.boardingarea.com/2018/03/01/new-35k-starpoints-offer

Delta Amex Platinum personal & business - 70,000 SkyMiles + $100 statement credit

• The personal and business version are two different cards with the same signup bonus and benefits.  A person can hold both cards at the same time
• 70,000 Delta SkyMiles + 10K MQMs (elite status miles) after $3K spend in first 3 months
• $100 statement credit after Delta purchase in first 3 months
• $195 annual fee NOT waived in first year
• 10K bonus miles and MQMs (towards elite status) after $25K spend and + second 10K bonus miles and MQMs after $50K spend per calendar year
• Free domestic economy companion certificate after first year.  (Yes, this certificate really works.  Once it is in your SkyMiles account, you can use it regardless of whether your Delta Amex Platinum credit card account is open.)
• Priority boarding and free checked bags.
• Offer expires 4/11/2018
• TIP:  *Any* spend with Delta, such as a $2 headphone or $8 snack box during a flight, should trigger the entire statement credit; you do not need to spend $100 to get the $100 credit
• The personal and business version are two cards with the same signup bonus and benefits.  A person can hold both cards at the same time
• Referral link:  Please consider applying via my friend's referral link.  The signup bonus is the same, and Nick will earn 10k SkyMiles when you are approved.  http://refer.amex.us/NICHOBlQdJ?XL=tw39
• More info here:  http://frequentmiler.boardingarea.com/2018/03/01/four-new-offers-70k-60k-skymiles

Delta Amex Gold personal & business - 60,000 SkyMiles + $50 statement credit

• The personal and business version are two different cards with the same signup bonus and benefits.  A person can hold both cards at the same time
• 50,000 Delta SkyMiles after $2,000 in purchases in first 3 months
• 10,000 Delta SkyMiles after $1,000 more in purchases in first 6 months
• $50 statement credit after making a Delta purchase in first 3 months
• Annual fee:  $0 first year, $95 per year thereafter
• TIP:  *Any* spend with Delta, such as a $2 headphone or $8 snack box during a flight, should trigger the entire statement credit; you do not need to spend $50 to get the $50 credit
• More info here:  http://frequentmiler.boardingarea.com/2018/03/01/four-new-offers-70k-60k-skymiles

Mercedes-Benz Amex Platinum - 60,000 Membership Rewards points

• 60,000 Membership Rewards points after $5,000 spend in first 3 months
• This card is being discontinued Jan 2019, so time is running out on signing up for it
• Annual fee $550.  Very steep annual fee but may still be worthwhile for some folks because of the strong travel benefits
• $200 travel incidental credit - get automatic statement credit for bag fees and other in-flight purchases.  Airline gift cards work as well, if you know what you're doing
• $200 annual Uber credits ($15 per month + $35 in December)
• Includes automatic Hilton Gold status, SPG Gold status, National Executive status
• This card is a good pick for people who can make use of the free airline lounge access - 1) Amex Centurion Club lounges (only a handful of locations in the U.S. but VERY plush lounges) 2) flying Delta same-day for Delta SkyClub lounge access 3) Priority Pass Select program
• $100 Global Entry credit (application fee reimbursed via statement credit)
• TIP:  Add 3 authorized users for $175 total.  All 3 users each get $100 Global Entry credit and lounge access.  Just use the card to pay for any person's (does not need to be the cardholder) Global Entry application fee and receive $100 statement credit.
• This Mercedes-Benz version of the Amex Platinum card is one of several different Amex Platinum personal cards.  Each is a separate product, so you can get the signup bonus on the Mercedes version even if you have had the 'regular' Amex Platinum or other versions of the Amex Platinum such as the Schwab Amex Platinum
• More info here:  http://frequentmiler.boardingarea.com/2018/03/02/mercedes-benz-platinum-discontinued-get-60k-can/

DISCLAIMER:  Know the rules of the game!

If you have signed up for new credit cards in the past couple years, make sure you understand the rules of each card issuer.  Examples:

• Citi will not give you the signup bonus if you have opened or closed a card within a card family within the past 24 months. This means that if you have opened or closed this card or the Citi ThankYou Preferred or Citi Prestige card within the past 24 months, you are not eligible for the signup bonus.
• Chase will reject all applications for most of their cards, including the Sapphire Preferred mentioned in this blog post, if their data shows that you've signed up for more than 4 new credit cards - from ANY credit card company - in the past 24 months

Two days left to get $2,100+ in travel for a single $450 annual fee credit card

The Chase Sapphire Reserve sign-up bonus is being reduced from 100,000 Chase Ultimate Rewards points to 50,000 points after January 11, 2017.

If you:

• have gotten fewer than 5 new credit cards from ANY credit card issuer in the past 24 months (business credit cards from most banks are not counted in this limit)
• have a solid credit score (mid 700s for sure, although low 700s may work)
• are interested in traveling for free

Then it's a no-brainer, for you and your significant other if applicable, to apply for the Chase Sapphire Reserve credit card from Chase in the next couple days.

More background information about this deal is in my post from 9/22/2016:

Chase Sapphire Reserve article Sept 2016

Depending on your comfort level signing up for multiple new cards, you also may want to apply for the Chase Ink Preferred card first, then apply for the Sapphire Reserve after being approved for the Ink Preferred.

The Ink Preferred offers 80,000 point sign-up bonus.  Application link:  CLICK HERE

(The reason to apply first for the Ink Preferred card is that Chase does not count its own business credit cards toward the 5/24 card limit it uses to restrict people from being approved who have gotten 5+ new cards in the past 2 years.)

My blog does not have affiliate credit card links.  If you would like to apply, Google Chase Sapphire Reserve or Chase Ink Preferred.  Or you may consider visiting one of my favorite blogs, Ann Arbor-based Frequent Miler.  The Chase section of this page has a Chase Sapphire Reserve application link:  Frequent Miler best current credit card offers