Earn 5% On All Your Spending
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While it takes a lot of work, you can earn 4-5% or more on all your credit card spending.
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Step 1: Use cards with high bonus category reward rates
The easier part of the strategy is simply to take advantage of cards that have high reward rates for various bonus categories. Your choices depend on how highly you value Ultimate Reward points, other transferable reward points, or straight cash back; and whether you are willing and able to take advantage of business cards.
For the standard approach, we value Ultimate Reward points at 1.7 cents each; and Membership Reward and ThankYou points at once cent each. For the "miles" approach, we are trying to maximize the number of transferable points we earn, with a slight preference for Membership Reward points. For the "cash" approach, we only use cards that earn points that can be used to offset travel or actual cash back.
| Category | Standard | Miles | Cash |
|---|---|---|---|
| Dining | |||
| Airfare | |||
| Other Travel | |||
| Groceries | |||
| Gas | |||
| Amazon Purchases | |||
| Office Supplies | |||
| Telecommunications Services | |||
| Computer-related | |||
| Sporting Goods | |||
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