Cash Back Credit Card Reviews
Cash Back Credit Card Reviews
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Cash Back Credit Cards
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:
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!
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
Cash back cards have gained in popularity over the past decade as banks seek new ways to reward customers for keeping their cards top-of-wallet. A cash back card functions like an automatic rebate-spend on your card and get a certain percentage back.
Published: Mon, 07 May 2018 15:57:00 GMT
Ikea is launching a new store credit card that will offer 5% cash back on Ikea purchases and 3% cash back on restaurant, grocery store and utility charges, but the rewards can only be redeemed at Ikea stores, according to a Marketwatch report. The Ikea ...
Published: Thu, 17 May 2018 07:44:00 GMT
Rewards categories for credit cards are a great way to turn your everyday spending into valuable cash back or travel allowences, but knowing which type of program to pick might leave you scratching your head. Fear not, as we will help you navigate the ...
Published: Mon, 07 May 2018 10:50:00 GMT
There's an inevitable question you're likely to face before every big trip or travel-related purchase: Do I need a better credit card Whether you're hoping to take advantage of summer Fridays or save on a long weekend out of town, a common strategy ...
Published: Wed, 02 May 2018 07:00:00 GMT
A cash-back credit card can result in 5 percent or more back on your purchases, essentially giving you a small discount for everything you buy with a credit card. But that perk can cost you some money in the long run, if you're not careful. Here are some ...
Published: Thu, 05 Apr 2018 08:21:00 GMT
they won't pay an annual fee for a credit card. Redeeming rewards needs to be as easy as one click for Millennials because they know it's possible and they won't settle for anything that's not digitally up to speed. They want cash back, and they ...
Published: Thu, 12 Apr 2018 05:48:00 GMT
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