Today, one of the most popular type of reward cards are those that offer cash back with every single purchase made using that credit card. Even though there are several different credit cards available offering rewards, most often in todays world, cash back is the most popular. In fact, credit card holders all over the world hold a preference over cash back when compared to other reward types.
Other reward credit cards include points and air miles; however, cash back is top priority for many. This is especially true for people who use credit cards on a frequent basis. This means their cash back credit card is more valuable that other types of cards.
On the downside, cash back credit cards typically come with higher interest rates and general fees. It is important to use these cards responsible and avoid high balances at any time. If you keep higher balances, you will find that the fees add up and become extremely costly. Most people with cash back cards want to make sure they pay off their credit card bills as they come in. This will help you avoid high interest charges.
How much cash back you can receive will depend on what the credit card offers. In some cases, it can be from as little as one percent for regular purchases, all the way to five percent with qualifying purchases suing that card. Many people, especially those who use credit cards on a frequent basis, can generally get a great deal of money back each year.
These purchases can be from big to small; however, you might have a cap on the amount you can receive in cash back rewards. To understand what a particular card offers and if there is any maximum that you can receive each year, you will want to read the terms and conditions. This is particularly true for big item purchases such as appliances or furniture. Some credit cards will offer a bigger cash back reward for big ticket purchases.
Getting your reward again depends on the credit card company. In some cases, you will receive your cash back rewards once you have reached the maximum limit and in other cases, you may receive your rewards on a predetermined date during the year. Either way, you will either receive a check for the cash back or it will be deposited automatically into your personal checking or savings account. However, some companies choose to just apply the cash back towards the credit card payment or credit line. Make sure you choose a credit card that offers you the right options for you.
The best thing for you to do is do your homework. Conduct research into the various credit card rebates that are offered and compare the features and services. You want to ask about fees, credit limits, penalties, and other such information. Doing your homework helps you in making informed and worthwhile decision regarding your financial life.
If you haven't taken a moment to scout new credit card offers, the time has arrived. Credit card companies are battling for the largest client base, and as a result, consumers are on the receiving end of very attractive benefits. One of the most popular types of cards on the market today is the cash back reward card. Although the logistics change depending on the financial institution, the result is the same: get cash back on every purchase!
Below are the top four cash back rewards cards; check out the benefits and choose the one that's right for you. I've chosen these particular offers because of the size of the rewards and because of low interest rates.
Chase Cash Plus Rewards Visa Card
This is one of my favorite cards because Chase doesn't bog down the customer with a laundry list of rules and regulations. With some available cards, you have to follow very specific guidelines in order to receive rewards. With the Cash Plus Rewards Visa, all you have to do is use the card, and you'll get cash back.
Every time you use the card at a grocery store, gas station or drug store, you receive 5% cash back. When you use it for other purchases, you get 1% cash back. Then, when you build up a balance, you can either request a check from Chase Bank, or you can request a gift certificate for merchants such as Best Buy, Macy's and Home Depot.
There's no annual fee for the Cash Plus Rewards Visa card, and new customers receive a 0% introductory APR for up to twelve months on both balance transfers and purchases.
HSBC Cash Back Rewards MasterCard
I recommend this card for anyone who enjoys security protection and fair, competitive rewards. With the HSBC Cash Back MasterCard, you receive 1% cash back on all purchases, with no spending requirements. They offer a 0% introductory APR for the first twelve months. There is no annual fee, and you'll receive Zero Liability in the event that your card is stolen or used without authorization.
With the Chase card, you received 5% back on some purchases, which is not true of the HSBC card. However, this card comes with unlimited purchase protection, extended warranties, and travel accident insurance.
Citi Dividend Platinum Select Credit Card
This is a card for anyone who wants cash back rewards, but who plans on paying the card off every month. Customers receive 5% cash back on purchases at grocery stores, drug stores and gas stations, and 1% back for all other purchases. Citi offers a 0% APR on balance transfers for the first twelve months, but the regular APR is higher than the other cards being compared here. The cash back rewards are good, but this is not the card on which to carry a balance.
Citi offers the highest in security protection with a Photocard option and a fraud early warning block. They also provide Lost Wallet Protection, which means that if your card is lost or stolen, they will replace it within 24 hours.
Blue Cash from American Express
This is the perfect card for anyone who wants to share the benefits with a family member. Blue Cash offers up to 5% back on all purchases ? the most at drug stores, grocery stores, gas stations and home improvement stores ? and you receive the same cash back rewards with additional cards. That means that if your spouse, parent or child has a copy of the card, you earn cash back with their purchases as well.
Blue Cash offers a 0% introductory APR for the first six months, with a low regular APR afterwards. There is no annual fee, and no spending requirement to start receiving cash back. You might also want to check out American Express? Smart Chip service with ID Keeper. This web tool allows you to store personal log-in and password information for the web so that you don't have to input your information every time you log on.
Cash back reward cards are an excellent way to get your feet wet in the credit card world. Try some of these on for size, and see what they have to offer. If you're going to be buying things anyway, you might as well reap additional benefits!
Both Ben Needles & Ed Vegliante 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.
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