Best Cash Back Credit Cards to Skyrocket Your Wealth Beyond Dreams : Current School News

Best Cash Back Credit Cards to Skyrocket Your Wealth Beyond Dreams

Filed in Articles, Banking, Banking Guide by on October 15, 2021

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– Best Cash Back Credit Cards –

Here is how we make our money and have also decided to show you the best cash back credit cards types we had used to skyrocket our wealth. Most of the products featured here are strictly from our partners who have been active around with us. keep reading as you get to learn more.

Best Cash Back Credit Cards

Table of Contents

Trusted Partners Best Cash Back Credit Cards

Partnering with many financial institutions, lenders, among others. In line with this, we can clearly provide you with the best offers for any financial products and clarity for all of life’s financial decisions.

I believe that transparency is the key to earning and maintaining your trustworthiness. Therefore, I have decided to come up with a list of our partners for you.

I also strive to keep this list up-to-date, even though we are always working to add more partners.

If you have subscribed to our newsletter, I may help give you feedback so that I can provide you with important information on your credit score or proceed to figure out your likelihood of approval for a financial product.

Keep in mind that we partner with these financial institutions just to provide financial products to individuals. I also get to receive a payment if you apply for it while you also receive one of their products.

1. Citi Custom Cash℠ Card – without Annual Fee

Citi Custom Cash℠ Card

The Citi Custom Cash℠ Card offers pretty much a lot of value for a $0 annual fee: 5% back automatically in your top spending category of about $500 spent per billing cycle.

The list of eligible 5% categories varies and includes biggies like grocery stores, restaurants, and lots more. Unlike competitors, therefore there is no activation schedule or bonus calendar that will be given to keep track of it. 

Product Benefits:

➛ Earn $200 in cash back after you spend $750 on purchases in the first 3 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.

➛ 0% Intro APR on balance transfers and purchases for 15 months. After that, the variable APR will be 13.99% – 23.99%, based on your creditworthiness.

➛ Earn 5% cash back on purchases in your top eligible spend category each billing cycle, up to the first $500 spent, 1% cash back thereafter. Also, earn unlimited 1% cash back on all other purchases.

➛ No rotating bonus categories to sign up for – as your spending changes each billing cycle, your earn adjusts automatically when you spend in any of the eligible categories.

➛ No Annual Fee

➛ Citi will only issue one Citi Custom Cash℠ Card account per person.

2. Wells Fargo Active Cash℠ Card 

Wells Fargo Active Cash℠ Card 

Among flat-rate cash-back cards, you will be excited to enjoy the Wells Fargo Active Cash℠ Card at its climax. It earns you an unlimited 2% back on all purchases made, which is perfect.

Alongside this, the card offers a rich sign-up bonus and a  0% intro APR in most cases on both the purchases and balance transfers. This sounds so impressive because of the hard-to-find combination of features on a card with just a $0 annual fee.

Product Benefits:

➛ New! Earn a $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months

➛ Earn unlimited 2% cash rewards on purchases

➛ 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers, then a 14.99% to 24.99% variable APR; balance transfers made within 120 days qualify for the intro rate and fee of 3% then a BT fee of up to 5%, min: $5

➛ $0 annual fee

➛ No category restrictions or sign ups and cash rewards don’t expire as long as your account remains open

➛ Enjoy a premium collection of benefits at a selection of the world’s most intriguing and prestigious hotel properties with Visa Signature Concierge

➛ Get up to $600 protection on your cell phone (subject to $25 deductible) against covered damage or theft when you pay your monthly cellular telephone bill with your Wells Fargo Active Cash℠ Card

➛ Select “Apply Now” to learn more about the product features, terms, and conditions

3. Citi® Double Cash Card

Citi® Double Cash Card

In recent years, the Citi® Double Cash Card which is an 18-month BT offer has been our priority for the best flat-rate cash-back card.

You will earn 2% cashback on all purchases. You will earn 1% when you purchase anything and 1% when you pay it off.

In this case, there is no 0% intro period for any purchase and no sign-up bonus as well.

However, the high rewards rate is always more and this often makes up for the lack of items such as bells and whistles. 

Product Benefits:

➛ Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.

➛ To earn cash back, pay at least the minimum due on time.

➛ Balance Transfer Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 13.99% – 23.99%, based on your creditworthiness.

➛ Balance Transfers do not earn cash back.

➛ If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month.

➛ There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater.

➛ The standard variable APR for Citi Flex Plan is 13.99% – 23.99%, based on your creditworthiness. Citi Flex Plan offers are made available at Citi’s discretion.

4. CapitalOne Quicksilver Cash Rewards Credit Card

Capital One Quicksilver Cash Rewards Credit Card

The CapitalOne Quicksilver Cash Rewards Credit Card gives a compelling combination of a very good reward rate, sign-up bonus, redemption flexibility, and an introductory 0% APR period.

The original 1.5% flat-rate cash-back card still upholds its value in a now-crowded field. 

Product Benefits:

➛ One-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening

➛ Earn unlimited 1.5% cash back on every purchase, every day

➛ No rotating categories or sign-ups are needed to earn cash rewards; plus, cash back won’t expire for the life of the account and there’s no limit to how much you can earn

➛ 0% intro APR on purchases for 15 months; 14.99%-24.99% variable APR after that

➛ $0 annual fee and no foreign transaction fees

5. Bank of America® Unlimited Cash Rewards Credit Card

Bank of America® Unlimited Cash Rewards Credit Card

The Bank of America® Unlimited Cash Rewards credit card is also rated as one of the many 1.5% flat-rate cash-back cards in the market.

It comes regularly with a generous intro APR period, a decent sign-up bonus, and the potential to supercharge individuals’ earnings through the Bank of America®’s Preferred Rewards program.

Product Benefits:

➛ New Offer! With the new Unlimited Cash Rewards credit card, you can earn 1.5% cash back on every purchase, every time.

➛ No annual fee

➛ $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening

➛ If you’re a Preferred Rewards member, you earn 25%-75% more cash back on every purchase. That means you could earn up to 2.62% cash back on every purchase.

➛ No limit to the amount of cash back you can earn and cash rewards don’t expire

➛ 0% Introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 13.99% – 23.99% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers.

➛ Contactless Cards – The security of a chip card, with the convenience of a tap

➛ This online offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.

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6. Alliant Cashback Visa® Signature Credit Card

Alliant Cashback Visa® Signature Credit Card

The Alliant Cashback Visa® Signature Credit Card is launched for big spenders, maybe not only for the biggest spenders.

It offers the outstanding ongoing rewards rate of any flat-rate cash-back card right now, yet it also charges a yearly fee. It also goes a long way to limits the amount of spending that earns rewards.

If you’re looking at putting more than $2,500 a month on a credit card, it is an excellent thing to do. 

Product Benefits:

➛ Earn unlimited cash back with no categories to track

➛ Earn up to 2.5% cash back on your first $10,000 of qualifying eligible purchases (1.5% for purchases over $10,000)

➛ No foreign transaction fees

➛ No annual fee

➛ $0 fraud liability guarantee from Visa

➛ Works with Google Pay, Apple Pay, and Samsung Pay

7. Chase Freedom Unlimited®

Chase Freedom Unlimited®

The Chase Freedom Unlimited® is still a fine card still when it was giving 1.5% cashback on all purchases.

In recent days, it is still even better because it offers bonus rewards on travel booked via Chase, as well as for restaurants and drugstores.

Having said that, new cardholders get a 0% introductory APR period alongside the opportunity to earn a more pretty sweet cash bonus. 

Product Benefits:

➛ Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.

➛ Earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year.

➛ Earn unlimited 1.5% cash back on all other purchases.

➛ Earn 5% on Chase travel purchased through Ultimate Rewards®, 3% on dining and drugstores, and 1.5% on all other purchases.

➛ No annual fee.

➛ 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 – 23.74%.

➛ No minimum to redeem for cash back. Cash Back rewards do not expire as long as your account is open.

8. CapitalOne SavorOne Cash Rewards Credit Card

Capital One SavorOne Cash Rewards Credit Card

Considering CapitalOne SavorOne Cash Rewards Credit Card, you will get to earn a lower cash-back rate on dining and entertainment much more than the regular Savor card.

Having said that, nevertheless, rewards are quite good. its sign-up bonus is much smaller than that of the annual fee version, yet, it’s still solid. 

Product Benefits:

➛ Earn a one-time $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening

➛ Earn unlimited 3% cash back on dining, entertainment, popular streaming services, and at grocery stores (excluding superstores like Walmart® and Target®), plus 1% on all other purchases. Plus, earn 8% cash back on tickets at Vivid Seats through January 2023

➛ No rotating categories or sign-ups are needed to earn cash rewards; plus cash back won’t expire for the life of the account and there’s no limit to how much you can earn

➛ 0% intro APR on purchases for 15 months; 14.99% – 24.99% variable APR after that

➛ No foreign transaction fee

➛ No annual fee

9. Blue Cash Preferred® Card from American Express

Best Cash Back Credit Cards

If your household lavishes a lot on needs like transit, groceries, gas, and streaming services, the Blue Cash Preferred® Card from American Express is always available for you.

The rewards Blue Cash pays in these categories, most especially in the U.S. supermarkets are among the best of any kind. There is also an attractive bonus offer for new cardholders including an introductory 0% APR period too.

Also, the outstanding benefits come at a cost of an annual fee charge unlike with other most cash-back cards. 

Product Benefits:

➛ Earn a $300 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.

➛ $0 intro annual fee for the first year, then $95.

➛ Buy Now, Pay Later: Enjoy $0 plan fees when you use Plan It® to split up large purchases into monthly installments.

➛ Pay $0 plan fees on plans created during the first 12 months after account opening.

Plans created after that will have a plan fee of up to 1.33% of each purchase amount moved into a plan based on the plan duration.

The APR that would otherwise apply to the purchase, and other factors.

➛ Low intro APR: 0% for 12 months on purchases from the date of account opening, then a variable rate, 13.99% to 23.99%

➛ 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).

➛ 6% Cash Back on select U.S. streaming subscriptions.

➛ 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more).

➛ 1% Cash Back on other purchases.

➛ Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit.

➛ Terms Apply.

10.Blue Cash Everyday® Card from American Express

Best Cash Back Credit Cards

The Blue Cash Everyday® Card from American Express pays increasing rewards at the U.S. supermarkets, gas stations, and stores.

In spite of this, rewards aren’t as attractive as that of the Blue Cash Preferred® Card from American Express, yet, this card is not likely to charge an annual fee. Also, new cardholders get an attractive bonus offer and an introductory 0% APR period.

It is important to keep in mind that buying groceries frequently and not occasionally all the time is worth a look. 

Product Benefits:

➛ Earn a $200 statement credit after you spend $2,000 in purchases on your new Card within the first 6 months.

➛ Buy Now, Pay Later: Enjoy $0 plan fees when you use Plan It® to split up large purchases into monthly installments. Pay $0 plan fees on plans created during the first 15 months after account opening.

Plans created after that will have a plan fee up to 1.33% of each purchase amount moved into a plan based on the plan duration, the APR that would otherwise apply to the purchase, and other factors.

➛ Low intro APR: 0% for 15 months on purchases from the date of account opening, then a variable rate, 13.99% to 23.99%.

➛ 3% Cash Back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%).

➛ 2% Cash Back at U.S. gas stations and at select U.S. department stores.

➛ 1% Cash Back on other purchases.

➛ Cash back is received in the form of Reward Dollars that can be easily redeemed for statement credits.

➛ No annual fee.

➛ Terms Apply.

11. Chase Freedom Flex℠

Best Cash Back Credit Cards

The Chase Freedom Flex℠ gives bonus cash back in quarterly categories when you activate.

Bonus is also entitled on travel booked via Chase, at restaurants, and at drugstores or pharmacies.

Category activation can be a hassle you don’t match proper categories. But if your spending matches the proper categories, it will yield you hundreds of dollars a year.

There’s also a fantastic bonus offer for every new cardholder and a 0% intro APR period as well. 

Product Benefits:

➛ Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.

➛ Earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year.

➛ Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!

➛ Earn 5% on Chase travel purchased through Ultimate Rewards®, 3% on dining and drugstores, and 1% on all other purchases.

➛ No annual fee.

➛ 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 – 23.74%.

➛ No minimum to redeem for cash back. Cash Back rewards do not expire as long as your account is open.

12. Discover it® Cash Back

Best Cash Back Credit Cards

The Discover it® Cash Back offer bonus cash back in every quarterly category that you activate. Although in past years even up until now, those categories have introduced common spending areas like restaurants, grocery stores, gas stations, and Amazon.com.

Category activation can be a hassle, but if your spending aligns with those categories (and for most households, it probably will), you can rake in serious rewards. You also get the issuer’s signature “cash-back match” bonus in your first year.

Product Benefits:

➛ INTRO OFFER: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year.

There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.

➛ Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations, and when you pay using PayPal, up to the quarterly maximum when you activate.

➛ Plus, earn unlimited 1% cash back on all other purchases – automatically.

➛ Redeem cash back in any amount, any time. Rewards never expire.

➛ Use your rewards at Amazon.com checkout.

➛ #1 Most Trusted Credit Card according to Investor’s Business Daily.

➛ No annual fee.

➛ Discover is accepted nationwide by 99% of the places that take credit cards.

13. Bank of America® Customized Cash Rewards Credit Card

Best Cash Back Credit Cards

The Bank of America® Customized Cash Rewards credit card earns you a bit more control of your credit card rewards.

It allows you to choose which category yields the highest cash-back rate from a list that includes restaurants, gas stations, travel, etc.

You will also get to earn a bonus reward at both grocery stores and supermarkets, alongside a great new cardholder bonus offer. 

Product Benefits:

➛ $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening

➛ Earn 3% cash back in the category of your choice, automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases), and unlimited 1% on all other purchases

➛ If you’re a Preferred Rewards member, you can earn 25% – 75% more cash back on every purchase. That means you could earn up to 5.25% cash back on purchases in your chosen category.

➛ No annual fee and no expiration on rewards

➛ 0% Introductory APR for 15 billing cycles for purchases, and for any balance transfers made in the first 60 days. After the intro APR offer ends, 13.99% – 23.99% Variable APR will apply. A 3% fee (min $10) applies to all balance transfers.

➛ Contactless Cards – The security of a chip card, with the convenience of a tap

➛ This online offer may not be available if you leave this page or if you visit a Bank of America financial center. You can take advantage of this offer when you apply now.

14. U.S. Bank Cash+™ Visa Signature® Card

Best Cash Back Credit Cards

If you may not mind putting some works into your rewards, just check out the U.S. Bank Cash+™ Visa Signature® Card. It is the most customizable cash back card available nowadays.

With U.S Bank cash, you will get to pick which categories reward the most cash back. Here, you will get two-5% categories and a 2% category with the option given also to change those options every quarter.

There’s a good bonus offer for new cardholders as well.

Product Benefits:

➛ Earn up to $550 cash back in the first year.

➛ $150 bonus after spending $500 in eligible net purchases within the first 90 days of account opening.

➛ 5% cash back on your first $2,000 in combined eligible net purchases ($100 per quarter) on two categories you choose. That adds up to $400 cash back!

➛ 2% cash back on your choices of one everyday category, like gas stations or grocery stores.

➛ 1% cash back on all other eligible net purchases.

➛ No limit on total cash back earned.

➛ 0% Intro APR* on balance transfers for 12 billing cycles. After that, a variable APR currently 13.99% – 23.99%

➛ No annual fee*

➛ Great Offer from U.S. Bank, a 2020 World’s Most Ethical Company® – Ethisphere Institute, February 2020

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15. Capital One QuicksilverOne Cash Rewards Credit Card

Best Cash Back Credit Cards

Capital One QuicksilverOne Cash is one of the most admirable cards for people. It pays the same cash-back rate as the regular Quicksilver card, which only targets people with excellent credit.

The key difference is that this version charges an annual fee while the regular one does not.

Product Benefits:

➛ Earn unlimited 1.5% cash back on every purchase, every day

➛ Earn cash rewards without signing up for rotating categories

➛ Be automatically considered for a higher credit line in as little as 6 months

➛ Monitor your credit profile with the CreditWise® app, free for everyone

➛ $0 fraud liability if your card is ever lost or stolen

➛ No limit to how much cash back you can earn, and cash back doesn’t expire for the life of the account

➛ Help strengthen your credit for the future with responsible card use

➛ Get customized alerts and manage your account with the Capital One mobile app

16. Ink Business Unlimited® Credit Card

Best Cash Back Credit Cards

The Ink Business Unlimited® Credit Card offers you a simple, flat cash-back rate mostly on every purchase you make. It has nothing to do with limitations to how much you can earn.

The sign-up bonus is excellent for a cash-back card, precisely, one with no annual fee charge. In addition to this, there is also an introductory 0% APR period for purchases you make.

Product Benefits:

➛ Earn $750 bonus cash back after you spend $7,500 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.

➛ With Fraud Protection your card transactions will be monitored for possible signs of fraudulent activity using real-time fraud monitoring.

➛ 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

What are the Pros and Cons of Using a Cash-Back Card?

Cash-back cards are important for many individuals, but not for everybody.

Here’s a quick guide at the pros and cons of cash back credit cards compared with other types of cards:

Pros: 

Best Rewards Currency – Cash is the king when it comes to flexibility. Nobody can therefore change the value of it, and you will be excited to spend it anywhere.

You don’t have to engage your time waiting for years to accumulate enough points before you can get to redeem them for a free flight, hotel accommodation as well as your travel card.

Simplicity – Cash-back cards seem to be much easier to understand and use often more than the other types of cards that leave you contemplating whether or not you are getting the most value out of them.

No or Low Annual Fees – You can find pretty choices with no annual fee or other fees if you are likely to receive superior cash-back rewards in the future.

Low Bonus Requirements – It’s actually easier to hit the demanded spending level just for a sign-up bonus on cash-back cards than with travel credit cards.

Cons: 

Relatively Low Sign-Up Bonuses – Though bonuses may range from none to about $200for some cash back cards, while many travel-card bonuses will certainly exceed $500.

No Outsized Value – Points earned with travel cards can be increased into huge value sometimes, thus, exceeding the value compared to any cash-back card.

Inappropriate for Carrying a Monthly Balance – Few cash-back cards have an excellent 0% intro APR period, while most of them do not have.

If you carry a balance with it, you will likely pay for more interest than you earn for cash-back rewards.

Few Perks – You may not find perks as refunding for TSA Precheck applications or probably free checked bags or early check-in at any hotel.

Foreign Transaction Fees – Some cash-back cards charge you a good percentage for every purchase made abroad. On the contrary, these fees are uncommon with travel and luxury cards.

Making the Most Out of Your Best Cash-Back Credit Cards 2021

Best Cash Back Credit Cards

To make the most out of your cash-back card, the following strategies must be put into consideration that will never leave you behind your business competitors:

1. Charge Often

If you think you will have an issue paying off the balance every month, a cash-back card or any other reward card will not be better for you.

If you have never carry a balance, you can try to pile as much spending as you wish on your cash-back card with the purpose to pump up your rewards.

2. Combine Cards for Optimum Rewards

If you’re looking at switching among cards just to increase your rewards, ensure that you get cards that will complement one another’s rewards structures.

For instance, you can get one card that gives extra cash back for dining, another that gives extra for shopping at Amazon, and another for gas and groceries.

If your cash-back categories is compromised, you will certainly end up with redundant cards in your wallet.

3. Earn Back the Annual Fee

If there’s an annual fee, ensure that you’re getting much more than that in cash back. An annual fee is valuable only if you’re earning pretty much in rewards than a payment.

Also, it will earn you more than you would if you were using a no-fee card.

Most cash-back credit cards keep a running total of the rewards you’ve earned in the past year, so log in to your account and check your statements after a year to make sure it’s worth it to pay the annual fee again.

4. Take Advantage of Rotating Bonus Categories

If you have a card with rotating cash-back bonus categories, ensure that you activate the categories every quarterly.

This is done so that you will not miss out on 5% cash back on featured categories like wholesale clubs, restaurants, gas stations, groceries, and lots more.

5. Earn your Sign-Up Bonus

Ensure that you meet the minimum spending prerequisites to qualify for the bonus, otherwise you will miss out on hundreds of dollars.

Cash-back cards generally require less than $1,000 in spending just to earn the bonus. Therefore, shift as much possible spending you can to a new card until you earn the bonus.

6. Use the Card’s Shopping Portal for Extra Rewards

Online credit card malls, only accessible via your credit card login, can assist you to earn extra cash back on your web-based purchases up to 10 times.

Keep in mind that not all card issuers give shopping portals, but it is worth checking.

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Cash-Back Cards vs. Travel Cards

Cash-back cards are pretty much easy to understand and use, even though they can also seem to be boring. This is true in comparison with travel cards, which can be so aspirational.

It aspires vision of earning a free flight to Bora Bora or a night at a swanky hotel located in New York City.

Any co-branded travel cards for both airlines and hotel companies will certainly give you the perks of which no other card will.

For instance, airline cards usually offer free checked bags and priority boarding in most cases. Many of the best hotel credit cards offer you a free night’s stay every year.

While travel dreams are much more exciting than any other adventure, cash-back credit cards are actually the right choice for you. 

A 2016 case study from unbiased sources found out that in many cases, a consumer will get much more value by either using a cash-back card or using the cash rewards to pay for his or her travel expenses.

Research has it that domestic travellers who always spend less than $8,600 each year on travel will likely earn more rewards with a cash-back card.

This is not common with a travel rewards card, most especially if the customer holds the card for a long time.

As an exception, Americans who travel overseas at least once a year are always better off with a travel rewards credit card. This is because of its higher point values and with no foreign transaction fee applied.

Other Cards to Consider

If you are a type that carries a balance from month to month, it’s likely that the interest can quickly rise more than you were to earn in cashback.

Having said that, a low-interest card is a better choice. If you wish to transfer a balance, seek a balance-transfer credit card. 

If you’re a frequent traveller, you may later reap better value from a travel credit card coupled with an airline card, or a hotel card.

FAQs on Cash Back Credit Cards

Credit cards can be complex, so here’s a batch of answers to the most frequently asked questions.

Ques: What are Cash-Back Credit Cards?

Ans: Cash-back credit cards give the most useful and flexible rewards on any currency. Points and miles are worth valuable and flexible when redeeming.

In spite of this, a dollar in cash back is a buck you will be excited to spend anywhere.

Also, cash-back cards are generally the simplest rewards cards to own. With it, you will get a certain amount of cash for every dollar that you spend.

You will also get more cash back for certain types of spending be it at restaurants or gas stations, for instance.

If you spend $60 at a restaurant using a card that offers a 3% bonus back on your spending, you will get to earn $1.80 for not doing anything.

A cash-back reward card is like gaining a promo on everything you purchase with it. The fun often comes when you use the card anywhere and your cash back heaps up.

Even the best cash-back credit cards probably aren’t as admirable as travel credit cards, yet it still wins the race comparing with others.

Ques: What are the Different types of Cash-Back Credit Cards?

Ans: Cash-back credit cards often come in three basic types that really determine how you will accumulate your cash rewards. Given below are the three types of the best cash back credit cards:

  1. Flat Rate

Flat-rate cash-back cards offer you a good percentage of cash back irrespective of what you had bought with the card.
The good percentage gain is about 1.5% cash back on everything you purchase. However, some of the best cash back credit cards offer you back 2% or more.

Examples:

➛ Citi® Double Cash Card – 18 months BT offer. This card offers you 2% cash back on all purchases made. It also offers 1% for every dollar that you spend and another 1% for every dollar that you pay off.

➛ Capital One Quicksilver Cash Rewards Credit Card – This card offers unlimited 1.5% cash back basically on anything alongside a sign-up bonus.

  1. Tiered

Tiered cards earn a higher rate in specific categories of spending, such as groceries or gas, and usually 1% on anything else. However, with some cards, you get to choose which category earns the highest rewards.

Examples:

➛ Blue Cash Preferred® Card from American Express – This card allows you to earn a 6% bonus back at any U.S. supermarket annually.

It also earns you 3% back at U.S. gas stations, 6% on selected U.S. streaming services, and on transit. Also, all other spending offers 1% back with terms and conditions applied.

➛ The Chase Freedom Flex℠ offers 5% cash back on every travel booked via Chase Ultimate Rewards®; 3% back at any drugstore or restaurant. It also yields 1% back on other things.

Furthermore, it offers 5% back on up to $1,500 in combined purchases in bonus categories that change each quarter (then 1% back after that).

  1. Rotating Categories

Rotating bonus category credit cards give a high cash-back rate, absolutely 5%, in a specific category that changes periodically every three months.

Alongside this, everything else yields 1%. Therefore, you will have to activate the bonus category online for each quarter.

Examples:

For both of these cards below, 5% cash back applies to the first $1,500 in the bonus category spending for each quarter.

➛Discover it® Cash Back.

➛Chase Freedom®.

Ques: What are the Common Cash-Back Bonus Categories?

Ans: Many cash-back cards earn a higher rewards rate for some purchases. That is often based on where you exploit the card rather than what you will purchase with it.

You’ll see this with almost all rewards cards except for flat-rate cards.

Examples of common bonus categories:

➛ Supermarkets – Sometimes card issuers usually call this category “groceries”.  The rewards are specifically determined by the type of store, but not on the specific items that you purchase.

The reward also applies to cleaning supplies, toiletries, prepared meals among other items bought from the supermarket.

You can always purchase a gift card for a restaurant or from the retailer at the supermarket to still count as a supermarket purchase. Oftentimes, warehouse clubs and superstores such as Target and Walmart are also excluded.

For larger households, it can also be one of the most worth categories to get accelerated rewards.

➛Restaurants – Sometimes called “dining,” typically includes everything ranging from fast-food restaurants and pizza delivery to a white tablecloth for dining.

In addition to this, your whole restaurant bill includes the server’s tip and counts for accelerated rewards.

➛ Gas Stations – This is always described as “gas” and it often applies to traditional gasoline service stations, such as Mobil, Shell, and BP.

It usually does not extend to gas stations that are affiliated with supermarkets or warehouse clubs. Although, it counts everything you purchase in the associated convenience store as well.

Also, a few cards count only for gas paid at the pump. Wow!, Gas sounds like a really useful category, even though you’re a long-distance commuter, many households don’t spend much at the gas stations as often.

That last point underlies the key to cash-back categories which is the best to spend money regularly. So a bonus category like digital streaming services may as well be compared to have less valuable with the reason that you probably don’t spend much on Netflix and Spotify.

Other bonus categories you might see include entertainment, drugstores, home improvement stores, wholesale clubs, and mobile wallet purchases.

Rotating bonus category cards generally designate specific retailers for every bonus reward per quarter, such as Amazon or Walmart.

Card issuers often investigate whether each purchase earns a higher rate relative to the retailer’s merchant category code, which therefore describes the merchant’s primary business.

Ques: How do Cash-Back Credit Cards Work?

Ans: Which type of cash-back credit card is right for you depends on how you spend money and your patience for tracking rewards categories.

If you are a type that spends a lot in certain categories involving gas or groceries, consider a tiered or a bonus category card for use.

If you don’t want the fuss of recalling which of your cards has bonus categories, simply make a choice for a flat-rate card.

Once you are done with your decision on the type of cash-back credit card that will work best for you, consider the following factors:

  1. Annual Fee

Nobody wants to pay an annual fee – With most of the cash-back credit cards that don’t have a yearly subscription is a good option to opt-in.

That is because cards with annual fees usually have more lucrative rewards compared to higher cash-back rates for some or almost all of your spending.

The secret is to ensure that paying the annual fee is more valuable. Just think of the fee as being a reduction from the total of your annual cash-back.

  1. Sign-Up Bonus

A cash sign-up bonus is nice to get – if your regular spending will be quite enough to earn much, you will typically have to spend at least $500 to $1,000 for the first few months.

For a card with an annual fee, it is paramount important to compensate for the annual fee for only a few years.

Don’t ignore cash-back cards without a bonus because they are much less common with cash-back cards. Here bonuses are often low compared to those with travel credit cards.

A higher rewards rate on one card can be ideal than a card with a bonus and a lower rate, depending on how much you are spending and where you are spending it.

  1. Flexibility

What are the rules and regulations for getting your cash back? – To answer this question, some cards have a certain threshold amount of which you may want to earn $25 for cash back before you are fit to redeem.

Some cards allow you to retrieve the cash back as a statement credit, which can decrease your next credit card bill.
Other cards may allow you to redeem cash more directly into your bank account, while some may prefer to mail you a paper check.

Some issuers allow you to redeem more rewards for merchandise or gift cards for instance. While others may allow you in most cases to transfer cash-back points to another card program to yield better value.

  1. A 0% Introductory APR Period

Generally, you may not want to carry a monthly balance with rewards cards, but you can still be offered 0% intro APR periods on every new purchase, balance transfer, or both.

Carrying a balance from month to month typically incurs interest charges that can devalue your rewards. If you wish to carry a balance, first and foremost look for a low-interest credit card instead.

Hurray! Now that you have learned the best cash back credit cards to skyrocket your wealth, I hope you won’t delay any longer finding the right type of credit card to opt in to. Cheers!

CSN Team.

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