LPR,

You are using 2 cents as your baseline because you argue that you can easily get cashback at 2%. I question your assumption as most 2% cards I know of have some catches like requiring money to be spent on travel. I googled some and found a link for the top 2% cards but none are a straight 2% cashback. Do you have a card that is still available and offers 2% cashback?

I am currently receiving 3 hilton points which I value at 1.5 cents because I do not know of somewhere I will actually net 2%. Granted I am also willing to pay a little more for an Amex so that might tack on another quarter cent or so.

http://creditcardforum.com/blog/2-ca...k-credit-card/