Bread Cashback Amex - 2% CB everywhere, no AF/FTF
 

Haven't seen this card talked about on FT yet...the "Bread Cashback" Amex card, issued by Bread Financial (Comenity Bank). 2% cash back on every purchase, no annual fee, no foreign transaction fee. Link here

I've had this card for a few months; never heard of Bread Financial until I got a preapproved offer in the mail. For cashback cards, I like to keep it simple and not have to track rotating spend categories--so the flat 2% on everything is a nice perk I don't have on any other cards. Plus, the Bread card has many of the usual Amex benefits (purchase protection, secondary rental car CDW, Amex Offers, presale tickets, etc.) even though it's not issued by American Express Centurion Bank. No minimum or maximum cash back redemption limit, either.

Cash back is not as exciting or valuable as transferable points to me, but I have been using the Bread Amex for everyday purchases that would give only 1% on my Amex Platinum or CSP cards. Are there any equivalent Visa or MC 2%/no AF cashback cards?

The only one that I can think of that matches well is the SoFi credit card. It's 3% the first year and then 2% thereafter. It also has cell phone protection and no foreign transaction fee. I'm sticking to my double cash since you earn thank-you points which can be transferred to reward partners such as airlines.

PenFed's Power Cash card is 2% if you qualify for their Honors Advantage program (I park $500 in a checking account for it.) Not a ton of extra protections, but it gives 2% with no annual fee, no FTF, and is a Visa. That same deposit also waives the annual fee for the Pathfinder, which gives $100/year for airline incidental fees and a pay-per-use Priority Pass membership.

I got a mailing for this but decided to throw it in the trash. I already have two different 2% cashback cards (Fidelity and Wells Fargo), and the $100 signup bonus on the Amex didn't really move me.

Also, while there's no forex fee for this card, I do believe I've read here and elsewhere that Amex actually uses a less favorable conversion rate than Visa or MC. I have a 1.5% cashback Capital One card and a Savor as well, both of which don't charge forex fees, and those are my go-tos if I'm out of the US. So I didn't find this card to be all that compelling.

For which currencies? Discusion here: https://www.flyertalk.com/forum/cred...all-cards.html

I have the Power Cash card as well but no PenFed checking account. I never looked at the fine print to qualify for the 2% so assumed the $500 was a minimum monthly direct deposit. Parking $500 in a checking account is much simpler!

Several other credit unions have similar cards - PSECU is one of the best ones out there but I have the no-rewards version of their Visa instead of the 1.5/2% CB Founders card. $30,000 credit limit and a 9.9% fixed APR (2.9% for 1 year for balance transfers with no BT fee or cash advance fee). I never use my PSECU card for purchases but as a cheap way to borrow money for short-term purposes.

Haha - I just got a preapproved offer for this card, with $200 signup bonus, in the mail and figured I'd check to see if anyone has any experience with this card. And lo and behold, it appears I posted about another offer I got from them almost two years ago (which I completely forgot about)! :D:eek::confused:

Anyway, maybe I'm getting cheaper, but I'm considering getting the card now. Anyone have any recent experience with them? I assume all customer service is with Comenity and not Amex - is that a good or a bad thing?

Link?
 

Do you have a link to the $200 cash back?

Thanks.

Following up on my earlier post - this card is a massive PITA. I think I'm going to cancel it in a month or two.

On the plus side, I will say that they credited my $200 sign-up bonus very quickly after I met the spending threshold. So that's a point in their favor.

But OH MAN... redeeming rewards is an absurdity. The first time I asked for a statement credit - they said it would take 7-10 days for that to go through. I thought that was ridiculous, but whatever ... I requested the redemption well before my statement due date, and it went through fine.

For my second redemption, I asked them to do a direct deposit to a checking account. The rep on the phone said it would take a few days and I'd get an email confirmation. When after six days I got no email, I called in again, and was told the request was still with their verification department, and that once that department was satisfied the checking account actually belonged to me (which, he said, would absolutely, positively be tomorrow), then it would take another 7-10 days for the direct deposit to be processed. Ummmm... wha? Every single other credit card I have ever had can do an ACH deposit of reward points within two days max.

Given that this credit card offers me absolutely zero functionality that my Fidelity Visa doesn't (and has less acceptance abroad to boot), is there any possible reason to keep it?

I guess there's Amex Offers, which I haven't looked at yet. I probably should log in and check those out before making any decisions. But man... what a clown show.

Fidelity Visa, 2% everywhere, no FTF, Visa Signature benefits.

Not much reason to get this AMEX.

Yeah, I got it solely for the bonus offer, but it's too stupid a card to keep.

On my website below in the Credit Cards > Free Cards > Cash Back section I list 9 cards that offer 2% cash back on all purchases