There are so many cards out there that give unlimited 2% back with no annual fee that I don't really factor that in my evaluations. What ELSE does this card do that earns it a spot in my wallet (and an inquiry, 5/24 slot, new tradeline, etc)? The extra 1% on $10K is worth $100 per year, and that isn't enough for me. If it is for you, then go for it. If you're getting mostly 5% on your spending, then you're probably juggling multiple category 5x cards and that juice just isn't worth the squeeze for me. To each their own...