What Are the Top Cash Back Credit Cards?
Cash back credit cards are one of the most popular types of credit cards in the market. With the right cash back credit card, you can earn money back on your everyday purchases. In this article, we will explore the topcash back credit cardsin the market and help you choose the right one for your needs.
Top Cash Back Credit Cards
1. Chase Freedom Unlimited
The Chase Freedom Unlimited card offers 1.5% cash back on all purchases, making it an excellent option for those who want a simple, straightforwardrewards program. There are noannual fees, and new cardholders can enjoy a sign-up bonus of $200 after spending $500 within the first three months.
2. Citi Double Cash Card
The Citi Double Cash Card offers 2% cash back on all purchases, 1% when you make the purchase and 1% when you pay off your balance. This card has no annual fee and offers a long 18-month introductory 0% APR on balance transfers.
3. Blue Cash Preferred Card from American Express
The Blue Cash Preferred Card from American Express offers 6% cash back on groceries (up to $6,000 per year), 3% cash back on gas and select department stores, and 1% cash back on all other purchases. This card does have a $95 annual fee but can be worth it for those who spend a lot on groceries and gas.
4. Discover it Cash Back
The Discover it Cash Back card offers 5% cash back on rotating categories (up to $1,500 per quarter), and 1% cash back on all other purchases. There is no annual fee, and new cardholders can enjoy a sign-up bonus of all cash back earned in the first year.
Tips for Applying and Using Cash Back Credit Cards
1. Check your credit score before applying for a cash back credit card. Many of these cards require a good to excellent credit score.
2. Pay off your balance in full each month to avoid paying interest on your purchases.
3. Choose a cash back credit card that aligns with yourspending habits. If you spend a lot on groceries or gas, choose a card that offers higher cash back rewards on those categories.
4. Keep track of rotating categories and activate them each quarter to maximize your rewards.
5. Be aware of annual fees and make sure the rewards you earn outweigh the cost of the fee.
6. Be responsible with your credit card usage to avoid damaging your credit score and falling into debt.
Cash back credit cards can be a great way to earn money back on your everyday purchases. By choosing the right card and using it responsibly, you can earn thousands of dollars in cash back rewards. Remember to always check your credit score, pay off your balance in full each month, and choose a card that aligns with your spending habits. With these tips in mind, you can make the most out of your cash back credit card and save money in the long run.