If you have good credit you have your choice of the best credit card rewards programs and can choose between earning points for travel and merchandise, airline frequent flyer miles or a cash rebate for your credit card purchases. Some consumers opt for earning cash back so they can choose how to use their earnings. Compare credit card cash back programs on this page to see how you can earn the highest rebate as quickly as possible.
Cash back rewards card options
Most cash back credit cards offer a variety of ways you can earn cash. The simplest cash back rewards cards pay a fixed percentage on all purchases. But many rewards cards offer a higher cash back rate on purchases made in specific categories or through their website. For example, the best gas rebate credit cards often give you a bonus cash back percentage on gas purchases while also paying you cash back on other purchases.
Before choosing a cash back credit card, be sure to consider where you will make your purchases so you can earn the highest cash back possible. If you decide you want a cash back card that periodically changes cash back earnings categories, make sure you are willing to stay on top of the program so you don't miss out on the best cash back offers.
Comparing cash back rewards cards
While you're comparing the rewards programs of your next cash back credit card, don't forget to look at the other factors that could make one credit card better than another.
- Bonus cash. Look for bonus cash back offers for new customers such as an extra $100 or more if you make a certain amount of purchases within the first one to three months of having the credit card. You can earn bonuses with some cash back cards for on time payments and staying under your credit limit or using the card at specific stores.
- Annual fee. Many cash back credit cards are available without an annual fee. If you choose a credit card that has a fee, make sure your projected cash back earnings are higher than the fee.
- Interest rate. If you carry a balance, you should pay careful attention to the interest rate because your monthly interest payments could quickly outpace your cash back earnings. Cash back credit cards are generally a better choice if you pay your balance in full each month. There's no point in getting cash back on your gas credit card if your monthly interest payments eat up your rewards and then some.
- Redemption rules. Some cash back credit cards make you wait to accumulate a high dollar value before you can redeem the cash, so be sure to read the redemption rules. Make sure you know your options for redeeming the cash, such as a credit to your account, a check or a gift card for merchandise.
Using a cash back credit card
If you've decided you are ready to enter the world of credit card rewards programs, make sure you are also disciplined enough to avoid overspending. If you focus too much on the rewards you could earn, you may find yourself buying extra groceries or dining in restaurants more often just for the rewards. As long as you are careful to keep to your usual spending pattern, a cash back credit card can be a great addition to your wallet.
If you have decided that cash is king and you want a cash back credit card, check out the offers on this page to find the best choice for you.