The best things about having a credit card are the advantages you get from a credit card. Many credit card companies offer cash back rewards as an incentive for choosing the card. You will earn a percentage of the purchase that can be redeemed for cash back. There are several details to pay attention to when choosing a credit card that gives you cash back.
If you are looking for a cash back credit card we have taken the time out of the in-depth research and found that the below cards will offer you some of the best available deals on cashback available in 2017 through 2018 and we keep this post updated every few months.
Be Realistic About Your Spending Pending Habits
Think about how you spend money from month to month. Do you spend more money on restaurants or do you go to the grocery store? Cards specify which categories they give you the most cash back in. Sometimes it would be better to have two cards so when one category gives you the most cashback during a specified time, you use that one. When the other card gives the most at another time, you’re covered.
Fees And Being On The Positive Side
It is good to know the fees for each card you are considering. Make sure the benefits you receive over the course of the year add up to more than the annual fee you. This can be done easily by calculating approximately how much you spend per month, calculate the percentage they give. Calculate any end of year bonuses or any bonuses in general. Be realistic about whether you fit the criteria they are asking you to fill. Can you do it, will you do it. Don’t spend more money just to get some money back.
Use The Card Once You Get It
This may seem like a no-brainer, but it is easy to just use a debit card, cash or whatever way you usually pay. Sometimes it can feel uncomfortable to pay with the credit card all the time. You know though in the end by using this card it will give you cash back. You also do not want to get caught not spending the required amount to get the cash back bonuses.
Getting Cash Back On All Purchases
Only certain cards will be getting you cash back on all purchases. This is one reason to be really clear about what you spend your money on. If you do not spend the majority of your money on restaurants, food or gas and that is what a credit card is giving cash back for, then you might want to skip that card. If you spend your money on other things, then a credit card which says getting cash back on all purchases is possible then that card is the one for you. This is fine even if they may not give you as much cash back as other cards. You want the card that will give you the cash back on what you buy the most month to month.
Pay Off The Credit Card Every Month
It is easy to get caught up in a credit card allowing you to pay a minimum amount but stay away from these cards. You want to think like a wall street investor person where making money is always the goal. Interest rates are how the cards make money, but you do not want them to take more money from you than necessary. You probably will pay an annual fee for your card. Make that annual fee be the only money the credit card company makes off of you. Get in the habit of watching your money every month and making that credit card payment. You want to think of the card just like cash. Once you spend on that card, the cash you have in the bank has to equal what you spend. Pay the credit card off every month.
Always Understand The Fine Print
When it comes to spending money unnecessarily, no one wants surprises. It is annoying, but take the time to understand the fine print on any credit card you intend to apply for. Some people don’t understand about cash advances. Credit card companies always charge you more for cash advances. Never use a credit card for a cash advance unless it a matter of life or death. You want to fully understand all the fine print because credit card companies are out to make money. You can have them only make a little money off of you which is fair in exchange for their services. But knowing their fine print will help them not take you for a ride.
Chase Freedom Unlimited
You can earn 5% cash back on certain categories. These categories might include gas, grocery stores, or restaurants. All other purchases will earn you 1.5% cash back. After you spend $500 on purchases within the first 3 months, you will earn $150 bonus. When you add an authorized user, you will automatically earn $25 cash back. There is no annual fee; you do need good credit to qualify. You will receive 0% APR for 15 months. The card also features purchase protection and price protection.
Blue Cash Preferred from American Express
You will receive 6% cash back at supermarkets, and you will receive 3% at gas stations and department stores. All other purchases will give you 1% cash back. The annual fee is $95, but you can easily make up for that with the cash back you will receive. If you are approved for the card, you will receive a bonus of 10% cash back at U.S restaurants for the first 6 months. After you spend $1,000 within the first 3 months, you will earn $150 cash back. For the first 12 months, you will receive 0% APR on purchases and balance transfers.
Discover It Cashback Match
You will receive 5% cash back in certain categories and 1% cash back in other purchases. At the end of your first year, the card will automatically match all of the cash back rewards you are received. You can redeem your cash back anytime, and rewards never expire. Statements will include your FICO credit score. There is no annual fee for this card. You will receive 0% APR on purchases and balance transfers for 14 months. You will need good to excellent credit to qualify.
Bankamericard Cash Rewards
With this card, you will receive 3% cash back on gas purchases and 2% on grocery store purchases. You will receive 1% cashback on all other purchases. IF you are a customer of Bank of America, you will receive 10% cash back bonus if you redeem your reward straight into your Bank of America account. You will receive $100 after spending $500 within the first 90 days. You must have at least $25 to redeem rewards. You will receive 0% APR on purchases and balance transfers for the first year. There is no annual fee for this card.
Citi Double Cash Card
This card offers 2% cashback on all purchases when they are paid off. Before they are paid, you will receive 1% cash back. The rewards program is pretty straightforward with no bonus categories that you need to keep track of. There are no sign-up bonuses with this card. You must have at least $25 to redeem rewards. You will receive a 0% APR on balance transfers for 18 months, and there is no annual fee.
Capital One QuicksilverOne Cash Rewards Credit Card
You could qualify for this card with only average credit. You will earn 1.5% cash back on purchases. There is no limit to the rewards you can earn. There are no foreign transaction fees, but there is an annual fee of $39. There is not a sign-up bonus. This is a simple cash back credit card.
Barclaycard Cash Forward World MasterCard
With this card, you will receive 1.5% cashback on all purchases. You must have $50 to redeem your rewards. After spending $500 within the first 90 days, you will receive $100. The card features travel insurance, concierge services, and a FICO credit score with your statements. You will receive 0% APR for 15 months on balance transfers. You will not be responsible for unauthorized purchases. There is no annual fee for this card.
Wells Fargo Cash Wise Visa Credit Card
There is no annual fee with this card, and you will receive 1.5% cashback on purchases. After spending $1,000 within the first 3 months, you will receive $150. Cash rewards do not expire. You will receive 0% APR on purchases and balance transfers for 12 months.
The More You Know
Knowing what are the best credit cards for cash back is important when you are looking for what are the best credit cards for cash back. You want to make an informed decision that will benefit you the most not the credit card company. Getting cash back on all purchases is possible if that is the kind of circumstance that will benefit you the most. When you do your due diligence with credit cards, you will feel great about the money you save on expenses you make every year.