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I am currently looking at the Terms and Conditions of my card and it states the following:

"The earned amoount of a Cashback Bonus award is calculated by multiplying each purchase by:
.25 % if the purchase is part of the first $1,000 in purchases in the anniversary year
.50% if the purchase is part of the second $1,000 in purchases during the anniversary year"

In essence, I will not begin receiving the 1% cash back until I spend more than $3,000.

This is starting to look like a bum deal. Would I be better going after the American Express card?

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