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Universal Rewards Plus Visa Signature®
Universal Rewards Plus Visa Signature®
- 21.99% to 28.99% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 21.99% to 28.99% variable based on creditworthiness and the Prime Rate Balance Transfer APR
- 28.99% variable based on the Prime Rate Cash Advance APR
- 0% for 6 months from account opening date Intro Purchase APR
At a Glance
The Universal Rewards Plus Visa Signature® Card offers up to 4% cash back on Universal purchases, plus provides 10% savings on eligible purchases within the park. Cardholders also enjoy special 0% APR financing for 6 months and more for a $99 annual fee.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Earn 4% back in rewards on qualifying Universal purchases
- 2% back in rewards on Travel, Gas and Dining purchases
- Earn one single day theme park general admission ticket each account anniversary
- $99 annual fee
- Intro Purchase APR: 0% for 6 months from account opening date
- Regular Purchase APR: 21.99% to 28.99% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR: 21.99% to 28.99% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: Either $10 or 5% of the amount of each transfer, whichever is greater
- Cash Advance APR: 28.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $15 or 5% of the amount of each cash advance, whichever is greater
- Annual Fee: $99
- Foreign Transaction Fee: 3% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $40
- Return Payment Penalty Fee: Up to $35
- You love theme parks but prefer Universal Studios
- You plan to keep the card year-after-year to take advantage of the single-entry reward
- You want basic cash back rewards on everyday purchases
Instacart Mastercard®
Instacart Mastercard®
- 20.24% to 28.99% Variable Regular Purchase APR
- 20.24% to 28.99% Variable Balance Transfer APR
- 29.99% Variable Cash Advance APR
At a Glance
The Instacart Mastercard® is a cash back card that offers big savings on food and grocery deliveries. The no annual fee credit card from Chase earns 5% back on Instacart purchases, offers one-year free ofInstacart+ membership, and more.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Get a free year of Instacart+ and a $100 Instacart credit automatically upon approval. Membership auto-renews. Terms apply.
- Earn 5% cash back on Instacart app and Instacart.com purchases
- Earn 5% cash back on travel purchased through the Chase Travel Center, including flights, hotels and more
- Earn 2% cash back at restaurants, gas stations and on select streaming services
- Earn 1% cash back on all other purchases
- No annual card fee
- Regular Purchase APR: 20.24% to 28.99% Variable
- Balance Transfer APR: 20.24% to 28.99% Variable
- Balance Transfer Transaction Fee: Either $5 or 5% of the amount of each transfer, whichever is greater
- Cash Advance APR: 29.99% Variable
- Cash Advance Transaction Fee: Either $10 or 5% of the amount of each transaction, whichever is greater
- Penalty APR: Up to 29.99% Variable
- You get your groceries or food delivered through Instacart
- You have wanted to try out Instacart+
- You want a $100 Instacart credit to start chowing down today
- You do't want to pay an annual fee
First Access Visa® Card
First Access Visa® Card
- 35.99%* Regular Purchase APR
- 35.99%* Cash Advance APR
At a Glance
The First Access Visa® Card is a great option for those who want a true Visa® credit card but don’t have perfect credit. Available after an easy online application, approval can be as fast as 60 seconds – and since your responsible card use is reported to the three major credit bureaus each month when used properly, this can be a valuable tool to build, or repair, your credit.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Earn 1% cash back rewards on payments made to your First Access Credit Card • Checking Account Required • $300 credit limit (subject to available credit) • No security deposit, simply pay a one-time $95 program fee to open your account.* • User friendly Mobile App. • *See Rates, Fees, Costs & Limitations for complete offer details • See First Access Rewards Programs Terms & Conditions for details
- Regular Purchase APR: 35.99%*
- Cash Advance APR: 35.99%*
- Cash Advance Transaction Fee: Either $10, or 3% of the amount of the Cash Advance, whichever is greater.
- Annual Fee: $75 1st year, $48 after*
- Late Payment Penalty Fee: Up to $41*
- Return Payment Penalty Fee: Up to $41*
- You have poor credit, or no credit history
- You want a credit card with fast approval
- You will demonstrate responsible financial behavior to report to the credit bureaus
- You want a card that is accepted wherever Visa is accepted in the United States
- You want the option to select your favorite card desig
Mastercard® Gold Card™
Mastercard® Gold Card™
- 21.24%, 25.43% or 28.24% Regular Purchase APR
- 21.24%, 25.43% or 28.24%, based on your creditworthiness. There is a fee for balance transfers. Balance Transfer APR
- 30.49%. This APR will vary with the market based on the Prime Rate Cash Advance APR
At a Glance
The Mastercard® Gold Card™ is a lavish rewards credit card from Luxury Card™ that offers opulent rewards as well as a 24K gold-plated metal card design guaranteed to make a statement and catch the eye of anyone who sees it. Ideal for anyone who enjoys the finer things in life, it showers cardholders in exclusive benefits and VIP experiences.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Ideal for those seeking a premium travel card that doubles as an everyday workhorse, paired with elevated service beyond the ordinary. Leave behind the hassle of juggling various cards and monthly statements, while finding peace of mind with protection benefits that exceeds standard credit cards.
- Flat-rate redemption value of 2% for cash back or 2% value for airfare redemption with no airline or seat restrictions and no blackout dates. Earn one point for every dollar spent. Straightforward redemption without needing a high-maintenance reward strategy. No foreign transaction fees, no earning caps, no rotating categories, and no need to chase down transfer partners to escape very low point values.
- Annual Airline Credit—up to $200 in statement credits toward flight-related purchases including airline tickets, baggage fees, upgrades and more. Just pay for airline purchases with your Mastercard Gold Card and we will automatically apply the credit to your account. That’s it. No need to activate or designate an airline. The credit amount is available in full at the start of the calendar year.
- Up to a $100 application fee credit for the cost of TSA Pre✓® or Global Entry. Also, enjoy automatic enrollment in Priority Pass™ Select with access to 1,300+ airport lounges worldwide with no guest or lounge limits. Includes credits at select airport restaurants for cardholder and one guest.
- 24/7 Luxury Card Concierge®—Make requests the way you want by phone, email, SMS and chat in the app. Connect directly with a real agent and receive 24/7 assistance for tasks big and small. Requests do not require a purchase, incure no charge for making them, and do not involve department transfers.
- Exclusive Luxury Card Travel® benefits—average value of $500 per stay (e.g., resort credits, room upgrades, free wifi, breakfast for two and more) at over 3,000 properties. Receive protection benefits like trip cancellation and interruption, auto rental car collision waiver, travel accident and baggage delay. Cell phone protection for eligible claims of up to $1,000 each year. Plus additional World Elite Mastercard® benefits.
- Made with 24K Gold: Weighing in at an industry-leading 22g. Designed for frequent shoppers, big ticket purchases and everything in between.
- Annual Fee: $995 ($295 for each Authorized User). Terms and conditions apply.
- Regular Purchase APR: 21.24%, 25.43% or 28.24%
- Intro Balance Transfer APR: 0% introductory APR for the first fifteen billing cycles following each balance transfer that posts to your account within 45 days of account opening
- Balance Transfer APR: 21.24%, 25.43% or 28.24%, based on your creditworthiness. There is a fee for balance transfers.
- Balance Transfer Transaction Fee: Either $5 or 5% of the amount of each transfer, whichever is greater
- Cash Advance APR: 30.49%. This APR will vary with the market based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 5% of the amount of each transaction, whichever is greater
- Annual Fee: $995 ($295 for each Authorized User added to the account)
- Late Payment Penalty Fee: Up to $39
- Return Payment Penalty Fee: Up to $39
- You're searching for a credit card that goes miles beyond offering simple rewards and instead emphasizes luxurious treatment and amenities
- You're looking for unparalleled 24/7 concierge service that works tirelessly to meet your personalized requests
- You frequently travel and can benefit from rewards that can be earned and redeemed towards future travel
- You wish to stand out with a visually stunning credit card design crafted with a 24K-gold-plated stainless steel front and carbon back
FIAT® DrivePlus Mastercard®
FIAT® DrivePlus Mastercard®
- 21.24% to 30.24% variable based on creditworthiness and Prime Rate Regular Purchase APR
- 21.24% to 30.24% variable based on creditworthiness and Prime Rate Balance Transfer APR
- 29.74% variable based on the Prime Rate Cash Advance APR
- 0% for 6 months from the transaction date for eligible purchases Intro Purchase APR
At a Glance
The Fiat DrivePlus Mastercard is a co-branded cash back credit card from First National Bank of Omaha The card, an auto rewards credit card, gives loyal Fiat vehicle owners the chance to earn a $1,000 bonus certificate, a $100 statement credit, and up to 5% back in points on purchases. Points can be redeemed for cash back, gift cards, and travel or for parts, vehicle maintenance services, and the purchase or lease of a new vehicle.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Earn 5% back on FCA US purchases, 2% back on gas and travel purchases, and 1% back on all other purchases
- Redeem rewards for double the value at FCA US dealerships
- 0% APR special financing for 6 billing cycles on every FCA US dealership purchase of $499 or more
- When you spend $7,500 in your first year you will receive $1,000 Bonus Certificate towards the purchase of your next FCA vehicle
- Intro Purchase APR: 0% for 6 months from the transaction date for eligible purchases
- Regular Purchase APR: 21.24% to 30.24% variable based on creditworthiness and Prime Rate
- Balance Transfer APR: 21.24% to 30.24% variable based on creditworthiness and Prime Rate
- Balance Transfer Transaction Fee: Either $10 or 5% of the amount of each transfer, whichever is greater
- Cash Advance APR: 29.74% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $15 or 5% of the amount of each cash advance, whichever is greater
- Foreign Transaction Fee: 3% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $40
- Return Payment Penalty Fee: Up to $35
- You're planning to buy a new card within 12 months
- You will spend at least $7,500 within 12 months
- You plan on making a $100 purchase at an FCA US dealership within the first 30 days
- You prefer FCA vehicles (including Chrysler, Dodge, Jeep, Ram, Fiat)
Capital One SavorOne Student Cash Rewards Credit Card
Capital One SavorOne Student Cash Rewards Credit Card
- 19.99% - 29.99%% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 19.99% - 29.99%% variable based on creditworthiness and the Prime Rate Balance Transfer APR
- 29.99% variable based on the Prime Rate Cash Advance APR
At a Glance
The Capital One SavorOne Student Cash Rewards Credit Card provides college and graduate students with the tools they need to build credit – and the rewards they want to enjoy campus life. The card from Capital One features 3% back on select entertainment and everyday purchases and features no annual fee, balance transfer fees, or foreign transaction fees.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Earn unlimited 3% cash back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart® and Target®), with 1% on all other purchases
- Limited Time Offer: Earn $50 when you spend $100 in the first three months
- Earn 10% cash back on purchases made through Uber & Uber Eats, plus complimentary Uber One membership statement credits through 11/14/2024
- Enjoy peace of mind with $0 Fraud Liability so that you wo't be responsible for unauthorized charges
- Enjoy no annual fee, foreign transaction fees, or hidden fees
- Lock your card in the Capital One Mobile app if it's misplaced, lost or stolen
- Earn up to $500 a year by referring friends and family when they're approved for a Capital One credit card
- Earn 8% cash back on entertainment purchases when you book through the Capital One Entertainment portal
- Build your credit with responsible card use
- Whether you're at a 4-year university, community college or other higher education institution, this card might be an option for you
- Regular Purchase APR: 19.99% - 29.99%% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR: 19.99% - 29.99%% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: 3% of the amount of each transferred balance that posts to your account at a promotional APR that we may offer you.; None after that
- Cash Advance APR: 29.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: 3% of the amount of the cash advance, but not less than $3
- Late Payment Penalty Fee: Up to $40
- You're a student
- You frequently dine out or make purchases in the entertainment category
- You want a cash back credit card with no annual fee and no foreign transaction fees
- You want to build credit while earning quality rewards
Mopar® DrivePlus Mastercard®
Mopar® DrivePlus Mastercard®
- 21.24% to 30.24% variable based on creditworthiness and Prime Rate Regular Purchase APR
- 21.24% to 30.24% variable based on creditworthiness and Prime Rate Balance Transfer APR
- 29.74% variable based on the Prime Rate Cash Advance APR
- 0% for 6 months from the transaction date for eligible purchases Intro Purchase APR
At a Glance
The Mopar® DrivePlus Mastercard® is a rewards-heavy auto rewards credit card for shoppers of all things Mopar. With enticing introductory offers as well as continuous rewards, it’s an easy contender for the title of daily credit card.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Earn 5% back on FCA US purchases, 2% back on gas and travel purchases, and 1% back on all other purchases
- $100 statement credit when you spend $499 in FCA US purchases in your first billing cycle after the account is opened
- 0% APR special financing for 6 billing cycles on every FCA US dealership purchase of $499 or more
- When you spend $7,500 in your first year you will receive $1,000 Bonus Certificate towards the purchase of your next FCA vehicle.
- Intro Purchase APR: 0% for 6 months from the transaction date for eligible purchases
- Regular Purchase APR: 21.24% to 30.24% variable based on creditworthiness and Prime Rate
- Balance Transfer APR: 21.24% to 30.24% variable based on creditworthiness and Prime Rate
- Balance Transfer Transaction Fee: Either $10 or 5% of the amount of each transfer, whichever is greater
- Cash Advance APR: 29.74% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $15 or 5% of the amount of each cash advance, whichever is greater
- Foreign Transaction Fee: 3% of the transaction amount in U.S. dollars
- Late Payment Penalty Fee: Up to $40
- Return Payment Penalty Fee: Up to $35
- You own an FCA vehicle (FIAT, Chrysler, Dodge, Jeep, Ram, SRT)
- You frequently make Mopar products purchases
- You plan to make daily purchases with your credit card
- You regularly make purchases at US FCA dealerships
Ink Business Unlimited® Credit Card
Ink Business Unlimited® Credit Card
- 18.49% to 24.49% Variable Regular Purchase APR
- 18.49% to 24.49% Variable Balance Transfer APR
- 29.99% Variable Cash Advance APR
- 0% for the first 12 months from the date of account opening Intro Purchase APR
At a Glance
Whether your small business is in its early stages or already an established international name, the Ink Business Unlimited® Credit Card from Chase is a worthwhile option for taking care of expenses – both expected and unexpected.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase made for your business
- No Annual Fee
- Redeem rewards for cash back, gift cards, travel and more through Chase Ultimate Rewards®.
- Earn rewards faster with employee cards at no additional cost. Set individual spending limits for greater control.
- Round-the-clock monitoring for unusual credit card purchases
- With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
- 0% introductory APR for 12 months on purchases
- Member FDIC
- Intro Purchase APR: 0% for the first 12 months from the date of account opening
- Regular Purchase APR: 18.49% to 24.49% Variable
- Balance Transfer APR: 18.49% to 24.49% Variable
- Balance Transfer Transaction Fee: Either $5 or 5% of the amount of each transfer, whichever is greater
- Cash Advance APR: 29.99% Variable
- Cash Advance Transaction Fee: Either $15 or 5% of the amount of each transaction, whichever is greater
- Penalty APR: Up to 29.99%
- Foreign Transaction Fee: 3% of each transaction in U.S. dollars
- You own a small business
- You make frequent purchases across multiple categories
- You want to earn cash back from your business expenses
- You manage employees who will use their own issued cards
DoorDash Rewards Mastercard®
DoorDash Rewards Mastercard®
- 20.24% to 28.99% variable based on creditworthiness and the Prime Rate Regular Purchase APR
- 20.24% to 28.99% variable based on creditworthiness and the Prime Rate Balance Transfer APR
- 29.99% variable based on the Prime Rate Cash Advance APR
At a Glance
The DoorDash Rewards Mastercard® makes ordering out a breeze thanks to up to 4% cash back on DoorDash purchases, 2% back on groceries, a free year of DashPass (a $96 value), and a selection of Mastercard perks and protections.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- With the DoorDash Rewards Mastercard get a FREE year of DashPass ($96 value).
- 4% cash back on DoorDash and Caviar orders. Enjoy this benefit on every type of DoorDash order, including restaurants, groceries, pet supplies, retail items, and more. No earning caps.
- 3% cash back on dining when purchased directly from a restaurant. No earning caps.
- 2% cash back on purchases from grocery stores, online or in person. 1% cash back on all other purchases. No earning caps.
- Get a complimentary DashPass membership ($96 value) every year with $10k in annual card spend. DashPass members enjoy $0 delivery fees & reduced service fees on every eligible order.
- No annual card fee, just cash back on every purchase.
- As an exclusive Cardmember benefit, get 10% off one Convenience, Grocery, Alcohol, Retail or DashMart order every month. Maximum discount of $15 per order. Offer expires 12/31/2024.
- Member FDIC
- Regular Purchase APR: 20.24% to 28.99% variable based on creditworthiness and the Prime Rate
- Balance Transfer APR: 20.24% to 28.99% variable based on creditworthiness and the Prime Rate
- Balance Transfer Transaction Fee: Either $5 or 5% of the amount of each transfer, whichever is greater
- Cash Advance APR: 29.99% variable based on the Prime Rate
- Cash Advance Transaction Fee: Either $10 or 5% of the amount of each transaction, whichever is greater
- Penalty APR: Up to 29.99% variable based on the Prime Rate
- Late Payment Penalty Fee: Up to $40
- Return Payment Penalty Fee: Up to $40
- You love to order in and want to save money
- You can make use of the many services DoorDash offers, including groceries
- You want a $100 cash bonus after spending $500 on purchases in the first three months
Mastercard® Black Card™
Mastercard® Black Card™
- 21.24%, 25.43% or 28.24% Regular Purchase APR
- 21.24%, 25.43% or 28.24%, based on your creditworthiness. There is a fee for balance transfers. Balance Transfer APR
- 30.49%. This APR will vary with the market based on the Prime Rate. Cash Advance APR
At a Glance
An exclusive and complete credit card, the Mastercard® Black Card™ is a statement piece that offers a wide range of unique benefits not found anywhere else. Beyond a 2% redemption rate for airfare and 1.5% for cash back, the Black Card provides a full lifestyle experience that goes beyond just amassing points – and that more than makes up for its annual costs. Once approved, customers can expect 24/7 personalized concierge service, VIP discounts, and attractive memberships.
- Best Benefits
- Rates & Fees
- Why Should You Apply?
- Ideal for those seeking a premium travel card that doubles as an everyday workhorse, paired with elevated service beyond the ordinary. Leave behind the hassle of juggling various cards and monthly statements, while finding peace of mind with protection benefits that exceeds standard credit cards.
- Flat-rate redemption value of 1.5% for cash back or 2% value for airfare redemption with no airline or seat restrictions and no blackout dates. Earn one point for every dollar spent. Straightforward redemption without needing a high-maintenance reward strategy. No foreign transaction fees, no earning caps, no rotating categories, and no need to chase down transfer partners to escape very low point values.
- Annual Airline Credit—up to $100 in statement credits toward flight-related purchases including airline tickets, baggage fees, upgrades and more. Just pay for airline purchases with your Mastercard Black Card and we will automatically apply the credit to your account. That’s it. No need to activate or designate an airline. The credit amount is available in full at the start of the calendar year.
- Up to a $100 application fee credit for the cost of TSA Pre✓® or Global Entry. Also, enjoy automatic enrollment in Priority Pass™ Select with access to 1,300+ airport lounges worldwide with no guest or lounge limits. Includes credits at select airport restaurants for cardholder and one guest.
- 24/7 Luxury Card Concierge®—Make requests the way you want by phone, email, SMS and chat in the app. Connect directly with a real agent and receive 24/7 assistance for tasks big and small. Requests do not require a purchase, incure no charge for making them, and do not involve department transfers.
- Exclusive Luxury Card Travel® benefits—average value of $500 per stay (e.g., resort credits, room upgrades, free wifi, breakfast for two and more) at over 3,000 properties. Receive protection benefits like trip cancellation and interruption, auto rental car collision waiver, travel accident and baggage delay. Cell phone protection for eligible claims of up to $1,000 each year. Plus additional World Elite Mastercard® benefits.
- Black PVD-Coated Metal Card: Weighing in at an industry-leading 22g. Designed for frequent shoppers, big ticket purchases and everything in between.
- Annual Fee: $495 ($195 for each Authorized User). Terms and conditions apply.
- Regular Purchase APR: 21.24%, 25.43% or 28.24%
- Intro Balance Transfer APR: 0% introductory APR for the first fifteen billing cycles following each balance transfer that posts to your account within 45 days of account opening
- Balance Transfer APR: 21.24%, 25.43% or 28.24%, based on your creditworthiness. There is a fee for balance transfers.
- Balance Transfer Transaction Fee: Either $5 or 5% of the amount of each transfer, whichever is greater.
- Cash Advance APR: 30.49%. This APR will vary with the market based on the Prime Rate.
- Cash Advance Transaction Fee: Either $10 or 5% of the amount of each transaction, whichever is greater
- Annual Fee: $495 ($195 for each Authorized User added to the account)
- Late Payment Penalty Fee: Up to $39
- Return Payment Penalty Fee: Up to $39
- You're a frequent traveler who aims to earn rewards that can be redeemed for airfare at an unmatched rate
- You're looking to minimize your wallet via an everyday credit card that rewards on every redemption
- You aim to stand out from the crowd with an expertly-crafted metal credit card weighing 22 grams
- You're seeking a dedicated 24/7 Concierge service offering personalized assistance to meet a variety of requests
- You stay at high-end hotels and exclusive resorts that offer Cardmembers amenities, breakfast vouchers and resort credits
- You're interested in premium travel benefits and protections found in few competing credit cards
You've viewed 5 of 288 credit cards
What Is a Cash Back Credit Card?
A cash back credit card is a type of credit card that offers cardholders rewards in the form of money rather than miles or points. Cash back cards operate on a simple principle: you earn a percentage of the money you spend as cash back.
This reward is usually in the form of a statement credit or a direct deposit into your bank account, but other issuers allow cardholders to redeem cash back for gift cards and merchandise, deposits into eligible investment accounts, or by booking travel through loyalty travel portals.
The percentage of cash back you can earn varies depending on your credit card and purchase type. For example, you may earn 1% cash back on everyday purchases and 2% cash back on groceries or gas. Some credit cards even offer higher cash back rates for specific categories that rotate quarterly, like the Discover it® Cash Back or the Chase Freedom Unlimited.
How to Earn Cash Back
To earn cash back, use your cashback credit card for purchases. Every time you swipe your card or make an online transaction, you accumulate cash-back rewards. These rewards can quickly add up, especially if you use your credit card for all your regular expenses.
It’s important to note that not all transactions qualify for cash back rewards. To understand what qualifies for rewards, always read the fine print in your credit or debit card’s terms and conditions. Typically, the following transactions are ineligible for cash back:
- Balance transfers
- Card account checks
- Unauthorized or fraudulent transactions
- Cash advances
- Returns for credit
- Traveler’s cheques or foreign currency purchases
- Lottery tickets
- Money orders or wire transfers
- Reloading of prepaid debit or gift cards
- Card fees, late fees, or finance charges
Common Cash Back Categories
Here are some of the most commonly offered types of cash back rewards:
Which Type of Cash Back Credit Card is Best?
When it comes to cash back credit cards, the important question to ask is not which one is best overall, but which one is best for your specific situation. The easiest way to decide this is by determining which cash back rewards structure you’d like to work with: flat, rotating, or tiered.
Flat Rewards
Flat rewards are the easiest to manage as they offer a set amount (also known as a flat amount) for all purchases you make on your card. It’s common to see cards with a flat reward return rate of 1% to 2%. While that may not sound impressive, the tradeoff comes in how easy it is to determine how much you’ll get back from your purchases.
Rotating Rewards
Rotating rewards feature different bonus categories each quarter that you have to sign up for in order for your purchases to qualify. They generally yield a higher return than flat rewards cards, but you have to plan your purchases in advance to maximize your cash back earning potential. For example, one quarter may offer 3% cash back on travel expenses, but that category may be replaced in the following three months with rebates on gas or warehouse club purchases.
Tiered Rewards
Tiered rewards offer a comparably high return on purchases in a select category, but only up to a specific amount. After that, it’s common to see the cash back rate drop as low as 1%. For instance, a startup with a cash back credit card that rewards 5% on office supplies up to $2,000 a year may reach that limit in a single billing cycle. This limits how much they can earn going forward, but they also receive a big cash back bonus upfront that can be used for other supplies.
Secured Credit Cards
If you don’t yet have the necessary credit to qualify for an unsecured credit card, secured credit cards can be a good option. While the APR and benefits offered by some unsecured cards may be more appealing, they often have stricter application processes that evaluate personal income, assets, and other factors. In time, you’ll get there too
Benefits of Cash Back Credit Cards
Using a cash back credit card offers numerous benefits that can help you save money and manage your finances more effectively. One of the best advantages of these cards is the ability to earn money back on your everyday purchases. Whether you’re buying groceries, filling up your car with gas, or making online purchases, you can earn cash back on these expenses.
Another benefit of cash back cards is the chance to take advantage of additional perks and features. Many cash back credit cards offer introductory bonuses, allowing you to earn a substantial amount of cash back when you meet certain spending requirements. Some cards also provide benefits such as travel insurance, purchase protection, and extended warranties. These additional perks can add value and peace of mind when using your credit card for various transactions.
Lastly, cash back credit cards can also help you build and improve your credit score. Using your credit card responsibly and making timely payments demonstrates to lenders that you are a reliable borrower. This can open doors to better interest rates on future loans and credit cards. However, it’s crucial to remember that responsible credit card usage is key. It’s important to pay your bills on time and avoid a high balance to ensure your credit score remains positive.
How to Get a Cash Back Card
Ready to start earning cash back on your purchases? Getting a cash back rewards card is simple. Here’s a step-by-step guide:
- Research available options: Take the time to research the various cash back cards available in the market. Consider factors such as cash back rates, annual fees, and additional benefits to find the card that best suits your needs. Also, pay attention to promotional financing, such as 0% APR on purchases. These benefits can help you finance larger purchases while earning rewards.
- Check your credit score: Before applying for a credit card, it’s essential to check your credit score. Most rewards credit cards require a good to excellent credit score for approval. If your score is lower, consider improving it before applying.
- Gather required documents: Once you’ve chosen a cash back credit card, gather all the necessary documents to complete the application process. This typically includes proof of identity, income verification, and other personal information.
- Fill out the application: To access the application form, visit the credit card issuer’s website or call customer service. Fill out the form accurately and provide all the required information. After submitting your application, the card issuer will review it and make a decision. This process can take a few days to a few weeks. If approved, you will receive your card in the mail along with the terms and conditions.
What to Look for in a Cash Back Credit Card
Cash back credit cards are regularly compared to one another based on their rewards structure, categories, and other factors. Take the features below into account when shopping around for a new card.
Another thing to consider is the accumulated charges you may incur. All of the money that you could potentially earn back with even the best cash back credit card in your wallet would be meaningless if you’re stuck paying fees for using the card- and not necessarily irresponsibly either! Look out for high foreign transaction fees and balance transfer fees, as well as late payment fees if you already occasionally find yourself short at the end of statement periods.
The Most Important Things to Look for: | ||
Rewards categories | Just as you wouldn’t wear clothing in a size that’s not your own, you want to find the cash back rewards categories that fit you best. If you have an extended commute around the city that includes going to work, running errands, and picking the kids up from practice, a card that grants cash back on gas will likely earn you lots of cash back. | |
Redemption options | Statement credits are a popular option, as are gift cards to big chain retailers and supermarkets, or a direct deposit into your bank account. Some cards give you the option of having a physical check mailed back to you if you want a paper trail of your rewards payouts, whereas others may give you the option to pay the funds forward to the charity of your choice. | |
APR | The introductory interest rates offered by some cards are often a big selling point to new applicants. Once that period is over, though, the card’s regular APR may be too high to handle if you regularly carry over balances between billing cycles. You can offset this by paying off your balance in full each month or signing up for a credit card that has an APR that your budget can afford. | |
Annual fee | It’s fairly common to find a cash back credit card that doesn’t charge an annual fee, but it may be tougher to find one with benefits as good as one that does. If you don’t want to pay too high of an annual fee or miss out on benefits that serve you best, the trick is to find a card with perks that outweigh the cost. Always check the annual fee and don’t get saddled with a card that won’t offer you enough value. |
Tips for Maximizing Your Rewards
Once you have chosen the right cash back credit card, it’s time to focus on maximizing your rewards. Here are some strategies to help you make the most of your cash back:
- Use your card for everyday purchases: Make it a habit to use your cash back credit card for all your regular expenses, such as groceries, gas, and bills. By doing so, you’ll earn cash back on these everyday purchases and accumulate rewards faster.
- Take advantage of introductory bonuses: Many cash back credit cards offer generous introductory bonuses when you meet certain spending requirements within a specified timeframe.
- Optimize your spending: Some cash back credit cards offer higher cash back rates for specific categories or merchants. Take the time to understand these categories and plan your spending accordingly. For example, if your card offers 5% cash back on dining, consider dining out or ordering groceries from delivery apps like Uber Eats more often to earn more rewards in that category.
- Check for special promotions: Keep an eye out for special promotions and limited-time offers from your credit card issuer. These promotions may include increased cash back rates for specific merchants, statement credits, or seasonal promotions that can help you earn even more rewards.
FAQs
Here are answers from some of the most asked questions about cash back credit cards:
- Cash back credit cards are like any other rewards card. You make a purchase, and you get rewards in the form of points. Unlike other rewards cards, however, these credit cards offer the best redemption options as cash awards. These awards take the form of deposits into bank accounts, statement credits, or gift cards.
- Some card issuers, like Discover, offer a cashback match after the first year. A cash back match is when the bank automatically doubles your cash back after a set period. If you earn $100 in cash rewards, for example, the bank will double that to $200 – no questions asked.
- Points and cash back are mostly the same. All rewards cards earn points. Some cards, however, offer better redemption value for different options. Cards like the Chase Sapphire Cards are much better at travel than something like the Blue Cash Preferred Card from American Express for example.
- The time for points or cash back to show up in your account varies based on the transaction and the card issuer. Most transactions appear in your account within a few days, but sometimes cash back might not show up for a week or so. If you still do not see your cash back rewards after several weeks, contact your card issuer to get clarification.
- Some card issuers have limits on the minimum amount of rewards before cardholders can cash out. Others, however, have no minimum requirements. Deciding when to cash out is a personal decision. Many experts believe that redeeming cash back every month is an excellent habit to get into, as it can help reduce monthly payments and boost the amount of cash you have for everyday spending.
- The average credit card cash back is between 1% and 2%.
- To get the most out of a cash back credit card, you should carefully spend on bonus categories to maximize rewards.
- Not all credit cards offer rewards, like points, cash back, or discounts. Always read the card’s fine print before applying to ensure you don’t end up with a product you don’t want.
- In some cases, yes, though this is difficult. One easy way to get the most value from purchases is to stack offers or coupons. BestCards membership is a great way to boost your savings while using your desired credit card. And, it is free to join.
Conclusion
Cash back credit cards can be powerful tools for maximizing your savings and earning money back on your everyday purchases. By understanding how these cards work, the benefits they offer, and the various types available, you can make an informed decision and choose the right cash back credit card for your needs. Remember to use your card responsibly, pay your bills on time, and avoid carrying a high balance to fully enjoy the benefits of cash back rewards. With the right strategy and discipline, you can make the most of your cash back credit card and watch your savings grow
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