Choosing the right cash back credit card can allow you to earn money on both big and small purchases - cash that you can use however you like, and whenever you want.
Many cash back credit cards exist today that compete for your business. These cards pay you a percentage back on all purchases, and some give additional rewards from specific retailers. Some of the savviest money managers use cash back credit cards for all of their purchases. They pay off their balance each month, and take their cash back rewards to the bank.
When looking for the right cash back credit card, you need to consider several factors. Some of these include:
Grace period. If your plan is to earn cash back on purchases and avoid interest charges by paying off the balance each month, you'll want to consider how much time you have to pay off your balance before it starts accruing interest charges.
Interest rates, penalties and annual fees. If you plan on carrying a balance on your cash back credit card, you'll want to make sure you get the best interest rate possible. You'll want to understand the penalties and whether the credit card charges an annual fee.
Perks. Not all cash back credit cards provide the same level of rewards program. If you're looking for cash back, make sure you understand how the rewards are calculated, if they expire, and how much money you can expect to earn on your purchases.
TopConsumerReviews.com has reviewed and ranked the best cash back credit cards available today. We hope these reviews help you find the best cash back credit card to help your bottom line!
Disclosure: We pay our reviewers for their reviews. We are not compensated by companies for their reviews, but we are compensated for links and advertisements on our website. Click here for details.
Cash Back Credit Card Reviews
How Cash Back Credit Cards Work
Every time you swipe your card, the store merchant must pay the credit card company a small fee or a percentage of the sale. A portion of this fee is given back to the consumer in the form of a cash back reward. Cash back cards encourage consumers to use their credit cards for everyday purchases and the credit card company benefits from the store fees and passes some of the money back to the consumer.
Every card has a different system for how you redeem and receive your rewards. Some are automatically applied to your statement or are sent in the mail. With other cards, you must manually redeem your rewards (usually on the credit card website). Some offer money back on a monthly basis while others may send the cash back at the end of the year. Some other credit cards require a minimum balance to be released
before you earn your rewards. Typically customers will receive the money back as a credit on their account or as a check or cash card in the mail.
Most of credit cards keep track of your cash back rewards with a point system (or something similar). For example, some cards may give you two points for every dollar spent on groceries. 1000 points may equal $10 in cash back. So if you spent $500 dollars on groceries, you would be eligible for $5 back. Often credit card companies have partnerships with other larger companies. Making a purchase from a store
that has a partnership with your credit card company would mean a higher percentage of cash back rewards from that purchase. This might mean that different stores offer more or less points for purchases made there.
Another way cash back credit cards are able to offer rewards are from annual fees and interest accrued. While some credit cards have no annual fee, often cash back cards with bigger reward packages have some type of annual fee. Make sure your rewards are going to offset the annual fee you may be required to pay. You want to use the card to your advantage. Cash back rewards cards have higher interest rates
than most other cards to help offset the reward costs. It is important to remember to pay off your purchases on a monthly basis to avoid high interest charges. This will allow you to enjoy the benefits and while paying little to no interest on purchases. Those that carry a balance from month to month will end up owing far more in interest charges than what they will receive as rewards
Always pay attention to the fine print. Many customers rush to sign up for a card that offers 5% back on all purchase, but miss the part about it being an introductory offer. While this is a good incentive and one to consider, make sure you think about how the card and its benefits will look for you long term.
Cash Back Credit Cards In The News
Breezeworks Introduces Web Client Enhancement to Class-Leading Mobile Field Management Platform Further Integrates QuickBooks, Adds Large Team and Fleet-Management FeaturesPublication Date: July 15, 2015
Quadshot Software LLC announces new Extensions for OpenTickets Community Edition The four new extensions enable Community users to have more control and customization over their events and ticketing abilities. The new features include options to control the creation and management of reserved seating charts, create a virtual box office, include multi-price tiers and a coupon system.Publication Date: July 09, 2015
GTL Installs Payment Kiosks to Improve Operational Efficiency at Michigans 36th District Court New kiosks save time for citizens and court employees in Michigans largest district courtPublication Date: July 07, 2015
New Slim Leather Case for iPhone 5 and 5S from Sunrise Hitek The new slim leather case for iPhone 5 and 5S is both a phone case and a wallet in one. This case offers full protection all around with wrap-around frame that protects phone screen when placed face-down https://www.sunrisehitek.com/product/iphone-5-slim-leather-case (https://www.sunrisehitek.com/product/iphone-5-slim-leather-case).Publication Date: July 22, 2015
CSI globalVCard and ReactorNet Integration Enhances EPRO Procure-to-Pay Platform The addition of CSIs globalVCard electronic payment system provides ReactorNet customers with a complete end-to-end solution that automates the entire procure-to-pay processPublication Date: July 28, 2015
WaterFields Top 10 Summer Travel Bags and Cases for Easy Packing As the busy summer travel season enters its final month, WaterField Designs readies consumers with stylish and functional travel bags for toting everything from large loads to small digital devices. From carry-on sized Duffels to Packing and Gear Pouches, WaterField's American-Made products are ready to ship from their San Francisco-based online store.Publication Date: July 28, 2015
Travel Trolley Introduces Car Hire Booking on its Website UK based online travel agency, Travel Trolley has added a new car hire booking tool to its website. The functionality will allow Travel Trolley customers to seamlessly book hire car with reputable suppliers while booking their flights, hotels or package holidays to various destinations.Publication Date: July 06, 2015
Prepaid Cards Offer Limited Advantages Even With Impending Regulation Without the ability to build credit history, prepaid cardholders' only benefit is convenience, says OpenSkyPublication Date: July 07, 2015
Beauty.com Debuts Trina Turks Sunset Cosmetic Pouch as Summer Gift with Purchase Complimentary with Beauty.com purchases of $100 or more *Publication Date: July 07, 2015
Eliot Partners with Womply to Offer "Eliot Insights" for Merchants Platform Provides Powerful Tools to Track Revenue, Manage Online ReputationPublication Date: July 24, 2015
MyTaskit Pro releases 8.1 Operations module Enhanced software will meet EMV and Credit Card Chip & Pin RequirementsPublication Date: July 29, 2015
Integritys Gift to Support Belton High School Athletics Unique Fundraising Program is a Win-Win for the Belton CommunityPublication Date: July 22, 2015