Beating Inflation: A Strategy with No-Fee Credit Cards

Inflation is a major concern affecting all of us. As the cost of living rises, it becomes crucial to find ways to mitigate its impact while also maximizing our ability to build wealth. One effective strategy involves leveraging credit cards that offer cash-back rewards without any annual fees. Let’s explore two such “hidden gem” cards that can help you save money and transform your cash back rewards into long-term investments.

1. Citi Custom Cash: Earn 5% Cash Back on Consumer Staples

The Citi Custom Cash is often overlooked by credit card review sites due to the lack of a referral program. However, it’s a powerful tool for savvy consumers. Here’s why:

• Rewards Structure: The Citi Custom Cash provides a straightforward rewards premise. You earn 5% cash back on up to $500 worth of purchases per month.
• Category Flexibility: Whether you spend $500 at the grocery store, on travel, or at restaurants, you’ll receive $25 cash back. Keep in mind that these categories don’t stack, so focus on one area each month.
• Inflation-Beating Strategy: Consider using the Citi Custom Cash primarily at the grocery store. By bulk-buying non-perishable goods, you can combat inflation effectively.
• Welcome Bonus: As an added incentive, new cardholders can earn a $200 cash-back welcome bonus by spending $1,500 within the first six months of owning the card.

In total, you can maximize the Citi Custom Cash to earn $500 in rewards during your first year. These reward dollars can be cashed out to your bank account, allowing you to reinvest them in stocks, crypto, gold, or other valuable assets.

2. Capital One Quicksilver: Collect a Super Easy $200 Welcome Bonus

Inflation has made credit card bonuses more accessible, and the Capital One Quicksilver exemplifies this trend. Here’s what you need to know:

• Welcome Bonus: New cardholders can earn a $200 cash back bonus by spending $500 within the first three months. This straightforward threshold provides an almost immediate 40% return.
• All-Purpose Rewards: The Quicksilver offers 1.5% cash back on every purchase, with no rotating categories or spend limits. Whatever you buy, you’ll receive cash back rewards.
• Secret Discounts: Capital One occasionally offers “secret discounts” via their website. For instance, current Quicksilver cardholders can get an extra 5% back on Walmart purchases and 2% back on eBay orders.
• Annual Fee: The Capital One Quicksilver has no annual fees, making it an attractive choice for cash back enthusiasts.

Sign up, make $500 worth of essential purchases, and enjoy $200 in cash-back rewards that you can invest wherever you choose.

Conclusion

Combining the Capital One Quicksilver and the Citi Custom Cash allows you to beat inflation while earning cash-back rewards. Pay with the Quicksilver for an immediate $200 bonus, and use the Citi Custom Cash over the long term to achieve $500 in annual rewards. Since neither card charges an annual fee, there’s no downside to this strategy. Just remember to pay your statements on time to avoid interest.

Used responsibly, this card combination could net you $700+ per year in cash-back rewards, which you can then reinvest in wealth-building assets.

Disclaimer: This article is for entertainment purposes only and not financial advice.