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Cash Back Credit Cards
When it comes to credit card rewards, cash back remains the top choice for the most consumers. Cash back credit cards come in all different shapes and sizes. Some offer simple flat rate rewards programs while others allow you to earn bonus cash back in special spending categories. Let’s take a look at some of the key factors to look for when selecting the best cash back credit card for you.
Rewards Rates – Earn Cash Back on Purchases
The number one thing you will want to consider when comparing cash back offers is the rewards structure for new purchases. Some credit cards make things simple and just offer the same cash back rate for all purchases, no matter what you spend money on. There are many cards the offer unlimited 1.5% cash back on all purchases, which is quite a generous return on your spending. Some go as high as 2% back, but be sure to read the fine print to make sure you understand how to ensure you earn the full rewards rate. Flat-rate cash back cards like this are popular because they take the hassle out of earning rewards. There’s no worrying about bonus categories or quarterly caps on your cash back – just swipe and earn! One popular choice for flat-rate cash back is the Citi® Double Cash Card – 18 month BT offer.
If you want to maximize your spending to get the most bang for your buck, then you should consider a cash rewards card that offers bonus cash back in certain spending categories. These cards come in a wide variety and will offer extra cash back on certain spending. There are cards that offer bonus cash back on dining, groceries, gas, travel, streaming services and more. When considering which card is best for you, it’s important to examine your spending and see which card aligns with your spending habits. For example, if you find that you typically spend a lot on dining out, then using a card that offers bonus cash back on dining can help you rake it the most rewards.
Boost Your Cash Back with a Sign Up Bonus
In addition to the ongoing rewards rate, you will want to pay attention to any sign up bonus or welcome offer that a cash back credit card comes with. These are easy ways to kickstart your rewards earnings. Sign up bonus can range anywhere from $25 to $500 and typically require you spend a certain amount within the first few months in order to earn them. Obviously, the bigger the sign up bonus the better, but you’ll want to make sure you’re able to actually meet the minimum spend requirement in order to earn the bonus.
Things to Keep in Mind
As with any rewards credit card, you should always keep in mind that the best practice is to always pay your balance off in full each month. If you don’t any cash back you earn will be drastically outweighed by the interest charges you pile up for carrying a balance. Also, pay attention to annual fees – most cash back cards come with no annual fees, but depending on your spending habits, it could be worth paying an annual fee to earn extra rewards
All in all, a cash back credit card is a no-brainer for anyone who pays their balance off in full each month. Compare the best cash back cards above on this page and select the best one for you. Apply today and start earning rewards on all of your purchases!