Cash Back vs. Points: Are We Playing the Wrong Credit Card Game?

Partner Deals Long Angle: Join a free private community for high net worth investorsBilt Rewards: ⁠Earn the most valuable points when you pay rentQuince: Affordable luxury essentials with free shipping + 365 day returnsFabric: ⁠Affordable term life insurance for you and your familyMasterClass: ⁠Learn from the world's best with up to 15% offFor all the deals, discounts and promo codes from our partners, go to: allthehacks.com/deals#170: Chris makes a case for cash back in your credit card strategy based on some recent changes in the points and miles world. He goes deep on strategies for every spending category and shares his analysis of how to optimize points vs. cash back for the best ROI.Link to Full Show Notes: https://allthehacks.com/cash-back-vs-points-credit-cardsPartner DealsMint Mobile: $15/mo for unlimited wireless on the nation's largest 5G networkVuori: 20% off the most comfortable performance apparel I've ever wornSuperhuman: Free month of the fastest and best email with code ALLTHEHACKSBilt Rewards: Earn the most valuable points when you pay rent1Password: Free 2-week trial of my favorite password managerFor all the deals, discounts and promo codes from our partners, go to: allthehacks.com/dealsAll the Hacks Credit Card Optimization Tool v2 (w/ $10 Discount) All the Hacks Membership Credit Cards Page Credit Cards MentionedNote: not all cards are allowed to be mentioned here, so for a full list, visit our Best Credit Cards PageOverall Spend Robinhood Gold Card Bank of America® Premium Rewards® Credit Card Discover it® Miles Higher Cash Back in 1-2 Categories U.S. Bank Cash+® Visa Signature® Card Citi Custom Cash℠ Card Bank of America® Customized Cash Rewards Credit Card Rotating CategoriesDiscover it® Cash Back Credit CardDining/Restaurants Capital One Savor Cash Rewards Credit Card U.S. Bank Altitude® Go Visa Signature® Card American Express® Gold Card Travel The Platinum Card® by American Express U.S. Bank Altitude® Reserve Visa Infinite® Card Wells Fargo Autograph Journey℠ Card Grocery/Supermarkets Blue Cash Preferred® Card from American Express AAA Daily Advantage Visa Signature ® Credit Card American Express® Gold Card Verizon Visa® Card Internet/Cable/Phone BillsBMO CashBack® Mastercard®GasAbound Visa® Platinum CardEntertainment/StreamingCapital One Savor Cash Rewards Credit CardRentBilt Mastercard®Mobile Wallet: U.S. Bank Altitude® Reserve Visa Infinite® Card + Real Time Rewards Resources MentionedWealthfront: Get $5k managed free & get a 0.5% APY boostCopilot: Free 2 months access to my favorite personal finance app with code HACKS2X (Twitter) post: Couple opened 26 credit cards in 2017 and earned 2M pointsFull Show Notes(00:00) Introduction(01:55) Chris' Personal Points & Miles History(02:48) 3 Big Changes to Chris' Credit Card Strategy(04:29) How to Take Advantage of Transfer Bonuses to Book Flights(11:49) The Basics of Cash Back(12:50) Best Cash Back Cards for Overall Spend(14:06) Cards for Higher Cash Back in Certain Categories(15:11) Other Category Spend(19:42) Best Cards for Dining(20:40) Travel Category(21:44) Uncapped Card for Gas(21:56) Cards for Groceries(22:26) Internet, Phone Bill, and Cable Category(22:35) Chris' Revamped Card Optimization Spreadsheet(26:35) Main Cards for Team Points Vs. Team Cash Back(27:44) Chris' Analysis & Category Run Through(33:42) The Biggest Takeaway on Cash Back(36:24) Cards for Spending Categories Like Rent, Entertainment, and Office Supplies(39:32) The Big Wrench: Welcome Bonuses(41:58) The Points & Miles Game With Player 2(43:14) Credit Card Issuer Rules for Welcome Bonuses(48:03) Quick Summary and Chris’ Final TakeawayEditor’s Note: The content on this page is accurate as of the posting date; however, some of our partner offers may have expired. Opinions expressed here are the author's alone, not those of any bank, credit card issuer, hotel, airline, or other entity. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post.