Consumer Reports Finds Few Rewards Programs Worthwhile; Names Best Three Cash Rewards Credit Cards
The July 2008 issue of Consumer Reports dishes out a sobering suggestion regarding consumer rewards programs—namely store-specific rewards credit cards. The advice? Don’t bother.
Consumer Reports names a few cash rewards, gas rewards, and store rewards credit cards as exceptions to the rule, but says rewards programs at businesses—from shoe stores to casinos—tempt consumers to spend more and spend often. Rather than jamming your wallet full of dozens of rewards card, the advocacy publication recommends picking one:
“Carrying the right rewards program cards and ignoring the rest can save you a little money on your purchases as well as some time at the checkout.”
Their picks for the best all-round cash rewards credit cards? We are proud to say they are the same as ours:
- American Express Blue Cash
- Chase Freedom Cash Rewards
- Discover More Card
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Your June article re: best cashback cards was very helpful. Last week I got an amex blue cash upon your suggestion. I have am waiting for approval on Chase Freedom. For 2009, do you still stick by these two suggestions? Has anything changed – I thought I read recently that Chase Freedom was decreasing their % cash back. Also, thought that as of Nov, they were no longer taking applications, but I was able to appy online — just haven’t heard back yet. Thanks for your tips!