Cash Back Credit Cards
One of the best types of cards to use when making a high volume of purchases is a cash back credit card. With such offers, you earn cash rewards on purchases made with your card - sometimes up to 5% cash back at certain locations.
- 5% Cash Back on up to $1,500 spent at gas stations and on Amazon.com from 1/1/12 - 3/31/12
- Annual Fee: $0
- Credit Needed: Good
| Introductory APR | Balance Transfer | Regular APR |
| 0% for 6 months* | 0% for 12 months* | 11.99-22.99% Variable* |
- Enjoy a 50% bonus on the cash back you earn every year
- Earn 1% cash back on all purchases
- New account holders can earn a one-time $100 bonus
- Annual Fee: $0
- Credit Needed: Good
| Introductory APR | Balance Transfer | Regular APR |
| 0% until February 2013* |
0% until February 2013* |
12.9-20.9% Variable* |
- Earn a $100 cash back bonus after spending $1,000 in eligible purchases in the first 3 months of Cardmembership
- Get 3% cash back at supermarkets, 2% cash back at gas stations and department stores, and 1% cash back on all other purchases
- Annual Fee: $0
- Credit Needed: Excellent
| Introductory APR | Balance Transfer | Regular APR |
| 0% for 12 months* | 17.24-22.24% Variable* |
17.24-22.24% Variable* |
- 5% cash back on the first $25,000 spent annually on office supply store purchases, cellular/landline phone service, and cable services
- Annual Fee: $0
- Credit Needed: Excellent
| Introductory APR | Balance Transfer | Regular APR |
| 0% for 6 months* | 0% for 6 months* | 13.24% Variable* |
- Earn 2% cash back on every purchase, every day
- Get a $100 cash bonus - just spend $1,000 within the first 3 months
- Receive a $50 cash bonus by signing up for one or more employee cards
- Annual Fee: $0 for the first year; $59 after that
- Credit Needed: Excellent
| Introductory APR | Balance Transfer | Regular APR |
| N/A | 13.9% Variable* | 13.9% Variable* |
- American Express(R) Card and Costco Membership Card in one - with no annual fee for Costco members
- Cash back on the things you buy: 3% for the first $3,000 in annual gasoline purchases (1% thereafter), 2% for restaurants, 2% for travel, and 1% everywhere else, including Costco
- Annual Fee: $0
- Credit Needed: Excellent
| Introductory APR | Balance Transfer | Regular APR |
| 0% for 6 months* | 15.24% Variable* | 15.24% Variable* |
- 5% Cashback Bonus® in categories that change like gas, restaurants, department stores and more. Limitations apply*
- Annual Fee: $0
- Credit Needed: Excellent
| Introductory APR | Balance Transfer | Regular APR |
| 0% for 6 months* | 0% for 18 months* | 10.99-20.99% Variable* |
- Earn Cashback Bonus® for your good credit management
- Up to 20% Cashback Bonus at popular retailers when you shop online through Discover.com
- Annual Fee: $0
- Credit Needed: Excellent
| Introductory APR | Balance Transfer | Regular APR |
| 0% for 15 months* | 0% for 15 months* | 10.99-20.99% Variable* |
- A card designed to help those new to the U.S. establish credit and earn cash back
- Build credit with automatic reporting to the three major credit bureaus
- Earn 2% cash back on travel purchases
- Earn 1% cash back on all other purchases
- Annual Fee: $0
- Credit Needed: Fair
| Introductory APR | Balance Transfer | Regular APR |
| N/A | 24.9% Variable* No Transfer Fee |
24.9% Variable* |
* Read Terms & Conditions on any credit card offer before you apply.
Understanding Cash Back Credit Card Offers
There are some important points about reward programs to take into consideration before applying for cash back credit cards. These include:
- The actual cash rebate percentage you will get
- Possible limits on how many points you can earn
- What options exist for redeeming your points
- When and if your rebate points will ever expire
Read The Fine Print: One of the first program features to look for is exactly what percentage you are getting as a rebate based on the amounts and type of purchases you make. For example, you might see the words "up to 5% cash back" on an offer, and choose that card thinking it will give you the most cash rebates. However, you might find the program starts at 1% and only climbs to 5% after you've used the card to make five or ten thousand dollars in purchases.
Another possibility is that you only get the full 5% rebate at certain stores, like grocery stores, gas stations, or specific retail stores, while purchases made at other locations remain at 1%. So, always make yourself aware of exactly how much your rebate will be in all cases. If you expect your primary source of rebates to be gas stations purchases, then Gas Credit Cards may present a better solution.
Limits On Points: The next point to address is whether there are any limits on how many points you can receive. Cardholders might think that all of their high-dollar purchases made with a credit card are earning them points only to find they stopped earning rebates after they reached 10,000 or 25,000 points for the year. The best programs will have no limit on how many cash rebate points you can earn.
Redeeming Points: Finally, there is the issue of expiring points and how you redeem your rewards. Some cash back programs will send you a $25 or $50 check automatically whenever your points reach a certain amount. Others will notify you as to how many points you have, but leave it up to you to request how and when you receive your points.
Expiring Points: When choosing a cash rebate card, look in the program rules for when your points are paid and when they expire if you fail to redeem them. A good cash back program will keep you informed monthly as to how many points you have, as well as when and if your points expire.
If you keep these four features in mind while applying for cash back credit cards, you should easily be able to choose the best offer for you.
