Ways TPG employees are using credit cards to tackle rising prices

If you feel like everything is getting pricier, you're not mistaken. While inflation has fluctuated, the cost of daily necessities remains stubbornly high.

In light of this, we're sharing strategies for earning additional rewards, cash back, or discounts on your everyday expenses to help mitigate those high costs.

Credit cards might not be your go-to solution for managing increased expenses. However, opting for a credit card that offers great rewards on spending can make a difference. Let’s start by exploring our top credit card recommendations for overcoming high prices.

Credit cards we're utilizing to combat rising prices

What credit cards do we personally rely on to help offset high costs? Here’s what some members of the TPG team shared when I inquired:

Senitra Horbrook, former credit cards editor

I seek out chances to use my Chase Freedom Flex® each quarter since it provides 5% cash back (or 5 points per dollar when paired with Ultimate Rewards points-earning cards) on select categories. For the fourth quarter of 2024, the eligible categories include McDonald's, PayPal, pet stores, veterinary services, and select charities.

(Keep in mind that earning 5% cash back or 5 points per dollar is capped at the first $1,500 spent in the bonus categories each quarter you activate.)

Emily Thompson, editor

I use my U.S. Bank Cash+® Visa Signature® Card to pay for utilities and internet/streaming services. I select this as my 5% cash-back category each quarter, and I appreciate that it’s a bonus that requires no extra effort or thought from me.

(Keep in mind that the 5% cash back applies only to the first $2,000 spent in your selected category each quarter.)

The details for the U.S. Bank Cash+® have been gathered independently by Dinogo. The information on this page has not been reviewed or supplied by the card issuer.

Gabe Travers, senior director of product management

I'm taking advantage of the impressive earning rate of 4 points per dollar at restaurants (on the first $50,000 spent each calendar year; then 1 point per dollar) and at U.S. supermarkets (up to the first $25,000 annually, then 1 point per dollar) with my American Express® Gold Card. According to TPG's September 2024 valuations, this earning rate translates to an 8% return on my spending in these categories, which is over three times the current inflation rate of 2.5%.

Additionally, the monthly dining statement credit of up to $10, which I apply toward Wine.com, serves as a nice "treat yourself" bonus (enrollment required; terms apply).

Katharine Leitch, director of business growth

I'm earning points on my (quite pricey New York City) rent with the no-annual-fee Bilt Mastercard® (see rates and fees), and I’ve redeemed those Bilt Points for a flight. I also use it at restaurants to accumulate 3 points for every dollar spent while dining out.

TPG founder Brian Kelly serves as a Bilt adviser and investor.

Matt Moffitt, managing editor for credit cards

As Gabe mentioned, the Amex Gold Card offers an exceptional return on grocery spending: 4 points per dollar on the first $25,000 spent each year at U.S. supermarkets (then 1 point per dollar). With dining out becoming pricier, I’m cooking at home more often, leading to higher grocery bills, and I want to maximize my rewards.

The The Platinum Card® from American Express is also beneficial. I keep a close eye on Amex Offers, which help me save throughout the year.

My strategy

My wife commutes by bus to work each day. The Chase Sapphire Reserve® earns us 3 points for every dollar spent on travel, translating to an over 6% return on this essential expense, based on TPG's September 2024 valuations. If we hadn't already claimed the annual $300 travel credit on this card, bus passes would qualify for rewards. Instead of earning bonus points, we would receive a statement credit that offsets these costs.

The Platinum Card from American Express also offers benefits that help us save money. The Walmart+ membership statement credit provides free grocery delivery fees (when available, subject to minimum order requirements) and discounts of up to 10 cents per gallon at Exxon and Mobil gas stations (subject to auto-enrollment; Plus Up benefits are not eligible). Additionally, it offers a digital entertainment credit for eligible streaming services, allowing us to enjoy movies at home rather than paying for theater tickets. Enrollment is required for certain benefits.

Conclusion

As you likely know, credit cards can provide valuable travel perks. Maximizing the benefits and perks of your cards, such as lounge access, is crucial for offsetting the annual fee (if applicable).

Yet, perks and benefits that enable you to combat high costs by offering valuable returns on spending or discounts on everyday essentials are crucial—perhaps now more than ever.