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May 1, 2024

Cash Back vs. Points: Are We Doing It All Wrong?

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All the Hacks with Chris Hutchins

#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.

 

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Superhuman: Free month of the fastest and best email with code ALLTHEHACKS

Bilt Rewards: Earn the most valuable points when you pay rent

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For all the deals, discounts and promo codes from our partners, go to our Partner Deals

 

Resources Mentioned:

 

Credit Cards Mentioned

Note: Not all cards are allowed to be mentioned here, so for a full list, visit our Best Credit Cards Page

 

Overall Spend

Higher Cash Back in 1-2 Categories

Rotating Categories

Dining/Restaurants

Note: American Express is a ChrisHutchins.com advertiser

Travel

Grocery/Supermarkets

Internet/Cable/Phone Bills

Gas

Entertainment/Streaming

Rent

Mobile Wallet:

 

Resources Mentioned

Wealthfront: Get $5k managed free & get a 0.5% APY boost

Copilot: Free 2 months access to my favorite personal finance app with code HACKS2

X (Twitter) post: Couple opened 26 credit cards in 2017 and earned 2M points

 

Full 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 Takeaway

 

Editor’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.

 

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Editor’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.