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[H365]Highest Cash Back Credit Card

by Joseph Kenny, Jos

Cash back credit cards offer customers cash benefits on certain purchases. The offers differ for different cash back credit card companies. Some offer higher rewards on purchase of selected items while some provide benefit on almost any purchase. Cash back credit cards are an alternative to saving money. The cash back credit card users benefit from the cash refund, on spending a particular amount.

Cash back credit card rewards vary from creditor to creditor. 1% is the lowest reward on cash back credit cards and 6% is generally the highest limit of cash back benefit. Credit card companies and banks generally place rewards on the purchase of some selected articles. Generally purchases made at gas stations, drug stores and grocery stores carry higher cash back percentage rewards, varying from 4% to 6%. Some cards require the user to spend a certain stipulated amount on the cash back credit card to be able to avail of the cash back facility.

Various Types of Benefits of Cash Back Credit Cards: Cash back credit card rewards can be of three types- 'Discounts', 'Points' and 'Air Miles'.

Several credit card companies tie up with certain brands and companies and their customers avail of discounts when making purchases from these companies.

Credit points are points earned by the card user on or above the purchase of a certain amount. These points can then be used to shop at select stores.

Air miles are the bonus miles rewarded to the credit card users. Many airlines team up with the credit card companies to extend 'Travel Rewards' to patrons. After that, card users are rewarded with 1 mile for every dollar spent on the card. This again varies from one company to another. Some credit card companies even offer two miles for each dollar spent on the card. Some travel rewards include free hotel accommodation, discount on car rentals and credit to buy a new car.

Cash back credit cards provide special benefits to customers for a year. It is therefore advisable to choose one with a low rate of interest. Timely monthly payment of bills is equally important, to avail of the card rewards. Late payments have a negative rating on your 'Intro APR'. This may lead to the special benefits being lifted from your card.

0% Interest Rate: Cash back credit cards generally the enable card user to receive 0% balance transfers for a year, after the user signs on. Many credit card companies charge balance transfer fees up to 4%.

0% APR: Under the 0% APR scheme, some credit card companies provide only balance transfers at 0% APR, while some offer both balance transfers and purchases. The time period for which the 0% APR is valid is again very important to identify. The best credit card companies generally offer 0% APR for 12 to 15 months.

Users must read the small print carefully when applying for cash back credit cards. It is better to compare the rewards offered by the different credit card companies and then invest in one that offers the best deal.

What is there not to like about getting a credit card that offers cash back for purchases? Seems like a no-brainer. What could be better than getting cash back on all the purchases that you make with your credit card? Let's take a closer look at what is going on.

Sure some cards give you free cash, but it is not what you think. It is usually only around 1% cash back. It is still cash back, though, don't forget that.

If you are a big time spender this kind of credit card probably appeals to you. However, you need to keep in mind that they are not going to give you cash back on every purchase that you make. It doesn't work that way, even if they claim they do. What happens is they will only give you a certain amount per transaction. This is because the company also has a strict limit on the amount that they will give back to their customers. Once you read the fine print on the agreement you will see a couple of paragraphs detailling all of this. Hey, but who reads the fine print on anything.

This is their way of winning new customers over to their company. Another thing you might want to keep in mind is that they generally will check your credit history. Sure, they will give you cash back but they want people who pay on time.

That's not to say you cannot get a credit card that offers better than 1%. Research different credit card companies to see what they are offering. You may be surprised to find a cash back credit card that offers you just what you need and want with a high cash back percentage, few limits on the amount they will give you back, and instant cash deposits when you make each purchase with their card.

Although these credit cards seem like a great thing to have, some companies will need your credit rating to be great too. However, there are credit card companies that offer these cards to people with a low credit rating to help them rebuild their credit. Research all of your options.

So what's the story? Go for the cash and savings? Or stay with your present vanilla card? Well, if you have a good credit rating, and you are a big spender, go for it. It is all win-win. But you've got to do your homework and check them all out. There are good ones out there that offer 3% cash back and impose very few limits. If, however, you have a bad credit rating, you might want to find a credit card that will help you rebuild your credit.

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Both Joseph Kenny & Martin Shea are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Joseph Kenny has sinced written about articles on various topics from Credit Cards, Debt Consolidation and Credit Cards. Joe Kenny writes for CardGuide.co.uk, offering to , visit them today for more. Joseph Kenny's top article generates over 550000 views. to your Favourites.

Martin Shea has sinced written about articles on various topics from Credit Cards, Education. . Martin Shea's top article generates over 1900 views. to your Favourites.