What are the Top Cash Back Credit Cards for 2016?

Cash back credit cards have become increasingly popular over the years, and for good reason. These cards allow you to earn money back on every purchase you make, which can add up to significant savings over time. But with so manycash back credit cardson the market, it can be difficult to determine which one is the best fit for your needs. In this article, we will cover the top cash back credit cards for 2016 and provide some tips on how to choose the right one for you.

Discover it Cashback Match

The Discover it Cashback Match card is a popular choice for many people because of its generousrewards program. Cardholders earn 5% cash back on up to $1,500 in purchases in rotating categories each quarter, and 1% cash back on all other purchases. Plus, Discover will match all the cash back earned in the first year for new cardmembers. This card also has noannual feeand noforeign transaction fees.

Chase Freedom

The Chase Freedom card is another great option for those looking for a cash back credit card. This card also offers 5% cash back on up to $1,500 in purchases in rotating categories each quarter, and 1% cash back on all other purchases. New cardmembers can earn a $150 bonus after spending $500 on purchases in the first 3 months. The Chase Freedom card also has no annual fee and no foreign transaction fees.

Blue Cash Preferred Card from American Express

The Blue Cash Preferred Card from American Express is a good choice for those who spend a lot on groceries and gas. Cardholders earn 6% cash back on up to $6,000 in purchases at U.S. supermarkets each year, 3% cash back at U.S. gas stations and select U.S. department stores, and 1% cash back on all other purchases. This card does have a $95 annual fee, but the rewards can easily offset the cost for those who spend enough in the bonus categories.

Citi Double Cash Card

The Citi Double Cash Card is unique in that it offers 2% cash back on every purchase – 1% when you make the purchase, and another 1% when you pay it off. This card has no annual fee and can be a good choice for those who want a simple and straightforward rewards program.

How to Choose the Right Cash Back Credit Card

When choosing a cash back credit card, it's important to consider your spending habits and what type of rewards program will benefit you the most. If you spend a lot on groceries and gas, a card like the Blue Cash Preferred Card from American Express may be the best fit. If you prefer a simple rewards program, the Citi Double Cash Card may be a good choice. It's also important to consider any annual fees or foreign transaction fees that may apply.

Tips for Using Cash Back Credit Cards

To make the most out of your cash back credit card, it's important to use it responsibly. Only make purchases that you can afford to pay off in full each month to avoid interest charges. It's also a good idea to keep track of your spending and pay attention to the bonus categories each quarter to maximize your rewards. Finally, be sure to read the fine print and understand any fees or restrictions that may apply to your card.

In conclusion, cash back credit cards can be a great way to save money on everyday purchases. By choosing the right card and using it responsibly, you can earn significant rewards and enjoy the benefits of a cash back credit card.