How I use it:
- All restaurant and bar spending, as well as food delivery services
- Monthly Sprint bill
- Monthly Spotify bill
- 4% on restaurants, bars, food delivery services
- 3% on travel (hotels, airplane tickets, airbnb, etc)
- 2% on online purchases
- 1% on everything else
- $600 in cell phone protection/insurance
- $50 streaming service credit (after spending $5,000 on the card a year)
- Sign-up bonus (mine was $100)
- No annual fee
Annual Value: $1,071
- $600 from cell phone insurance (5 lines x $10/month x 12 months)
- $384 from restaurant/bar rewards ($800/month on average x 12 months)
- $50 streaming services credit
- $26 from paying the Sprint bill ($220/month x 1% back x 12 months)
- $2 from paying Spotify ($120/year x 2%)
- $0 annual fee
The 4% cash back on restaurants and bars was awesome – better than any other no annual fee card that I’ve seen (I was previously using the Costco Visa for their 3% for all food purchases). But the real reason for picking this card up was for the cell phone insurance, as the value was awesome (especially for a free card). We’ve got my whole family on a cell phone plan (5 lines), so this was great – it saved each of us $10/month in phone insurance (or, if we didn’t have insurance, now we do). It’s limited to two uses a year, and has a $25 deductible, but that’s WAY better than the plan Sprint offers. I called and checked, and the lady on the phone from the insurance claims department said that the way she’s reading it is that all lines are covered if you pay your bill with the card.
To be fair, this benefit only really gets big if you’ve got a bunch of people grouped together on a family plan, but if you’re not already doing that, you should anyway to save some serious cash.
If you still need a reason, the $50 streaming services credit you could consider an additional 1% on purchases ($50 is 1% of $5,000, the spending you need to do each year to have this kick in). If you’re using your card for mainly restaurants and bars, then that’s like getting 5% back instead of 4% – even better).