How to Choose a Cash Back Credit Card in 2019

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How to Choose a Cash Back Credit Card

It is important that you choose the right card. When researching cash back credit cards, compare the annual fees, interest rates and rewards to determine the best card. Consider your spending habits when choosing a credit card and find one that will offer you the most benefits with a minimal cost. You want the card to fit the spending pattern you already have.

When possible, opt for a card that has no annual fee. However, don't rule them out before doing some more research. Some of these cards have great introductory rewards that pay for the fee. These cards typically are better for big spenders and offer more generous bonuses.

When looking at interest rates, it is important to evaluate your spending habits. If you plan to pay off your balance in full, then look for the card with the best benefits. If you plan to carry a balance on your card month to month, choose a card with a low rate. If you are paying high amounts of interest on your card then you are not receiving the full benefits of using a cash back card. Some cards offer a 0% interest for a limited time, which may be good if you are transferring another debt to the card or planning on making a larger purchase.

When choosing a card, it is important to evaluate the places and things you spend your money on. Different credit cards have partnerships with companies that offer higher cash back rewards for frequent shoppers. For example, if you had a card the partnered with Old Navy, you might earn a higher percentage of cash back when purchasing items from Old Navy than when you spent money on gas.

Other cards have rotating categories where you earn more points for spending money on a specific category. For example, one month you might earn double points when you spend money on gas and the next month you earn triple points at restaraunts. These categories and point awards rotate every few months.

Many stores also offer their own cash back credit cards. This may mean the rewards come as "store cash" specific to the store. This works well for those that frequently shop at a specific store. With other cash back credit cards, you might receive a statement credit, visa gift card or check in the mail.

Pay attention to cards that have "minimum tiers." This would mean that a card might offer 1% cash back, but you have to reach a minimum purchase in order to benefit from the rewards. Make sure you read the fine print on all cards before signing up.

When searching for cards, also consider the company and the website. Does it look professional and trustworthy? Is there contact information listed? Is it easy to get questions answered if a problem arises with your credit card? These are important to keep in mind in the long run.

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Cash Back Credit Cards In The News

Cash-back cards may be a better "buy' than airline credit cards. What's better?

If you use an airline-affiliated credit card such as the American Airlines Aadvantage MasterCard, consider a cash-back card instead. Airline cards are great if you're a big spender: Charge $25,000 and ...

Published:  Mon, 20 May 2019 15:00:00 GMT

No credit history? This new credit card pays cash-back rewards for on-time bill payments

Petal shakes up the market with what it calls a "responsible' credit card that pays cash back for on-time payments. Petal reports customer's payment history to the three big credit bureaus, so paying ...

Published:  Wed, 22 May 2019 13:13:00 GMT

Credit and debit cards have more germs than cash and train station urinals, study says

Rideshare germs: Back-seat passengers ... cash to be the filthiest since cash stays in circulation a lot longer and can travel across the country by changing hands," he wrote in the report. However, ...

Published:  Wed, 22 May 2019 05:23:00 GMT

Credit, debit cards found to be 'dirtiest payment method' versus cash, coins, study says

LendEDU's study found the average payment card registered a 285 germ score. Cash had an average germ score of 160, whereas coins had an average germ score of 136, the report said. "After testing the ...

Published:  Wed, 22 May 2019 13:19:00 GMT

The best cash-back credit cards of 2019

Business Insider may receive a commission from The Points Guy Affiliate Network if you apply for a credit card, but our reporting and recommendations are always independent and objective. Shayanne Gal ...

Published:  Thu, 16 May 2019 09:03:00 GMT

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