One of the things I’ve noticed myself doing more of on the rare instances when I venture out of my apartment during the coronavirus crisis is that I’m either reaching for a credit card more often, or using Apple Pay, instead of paying for items with cash. Doing the latter means getting change, and it feels like more of a risk when you’re handling money back and forth while we’re all supposed to be practicing social distancing (which is why Apple Pay and contactless payment options are an especially great service right now).
Bottom line, right now is a great time to take stock of your credit card situation and consider whether you’ve got the right piece of plastic that rewards you for daily purchases such as gas, groceries and dining out. When it comes to choosing the right credit card for these expenses, consider which one is going to give you the most bang for your buck.
What’s the best card to use for everyday purchases, when you’re not necessarily working toward meeting minimum spending requirements on a travel credit card that unlocks a generous sign-up bonus? From an uncomplicated cash-back card that earns 2% on all expenses to valuable rewards cards, here’s a list of the cards that offer the best return on everyday non-bonus spending.
Keep in mind: There’s no single “best” card for everyday spending — just whatever the best one is for your situation. Every card on this list is valuable for everyday spending, it’s just a matter of choosing the one that fits your own spending habits and goals.
Best credit cards for everyday spending in 2020
- Capital One® Venture® Rewards Credit Card
- Amex EveryDay® Preferred Credit Card
- The Blue Business® Plus Credit Card from American Express
- Bank of America® Premium Rewards® credit card
- Citi® Double Cash Card
- Blue Cash Preferred® Card from American Express
Capital One Venture® Rewards Credit Card
With an earning rate of 2 points per dollar spent on everything, a 50,000-mile welcome offer (once you spend $3,000 on purchases within three months of account opening) and a waived annual fee for the first year, the Capital One Venture is a popular mid-tier travel card. Now that Capital One has airline and hotel transfer partners, this card is even more compelling for anyone looking to earn bonus rewards on every purchase.
In addition to transferring your points to an airline, you can redeem your miles at a fixed rate of 1 cent each as statement credits to “erase” travel purchases you’ve made in the previous 90 days.
Amex EveryDay Preferred Card
The Amex EveryDay Preferred card is a lucrative everyday card if you can commit to 30 transactions monthly. That’s because in addition to earning Membership Rewards points on popular everyday bonus categories (1 point per dollar spent on non-bonus spending), you’ll earn 50% more points in each billing cycle if you make 30 or more purchases.
If this is your only credit card or one of only a few and you use for everyday purchases, you should be able to earn 50% bonus points every month for the life of the card. You’ll effectively be earning 1.5 Membership Rewards points per dollar on everyday non-bonus spending.
The card comes with a $95 annual fee, but you can earn even more points thanks to the card’s popular everyday bonus categories such as 3x points per dollar spent at US supermarkets (up to $6,000 in purchases per year, then 1 point per dollar spent) and 2 points per dollar spent at US gas stations………..Read More>>