Best Cash Back Credit Cards - Page 2

Cash back rates vary from card to card, usually falling in the 1% to 5% range, with the higher percentages reserved for certain category purchases like drug stores, gas stations, or movie theaters.

There are also different options for redeeming cash back bonuses. Most provide an actual cash option that can either be deposited in your checking account or applied to your card balance. In addition, you may be able to redeem cash back credits for gift certificates, merchandise, prepaid cards, and more.

How Cash Back Cards Work:

A cash back rebate for these cards is possible because merchants pay the credit card provider a commission on every purchase made using the card, then a portion of this is passed on to you. The rebates can come quarterly in check form or be credited to your card balance. Furthermore, they can come when you reach a certain spending threshold, or be paid throughout the year.

Other Considerations:

When assessing the qualities of the various reward cards, don’t forget that there are other factors of equal importance to the reward program when making your selection. Look for the possibility of a zero percent introductory rate (APR) for balance transfers. Also look for low or no annual fees (some reward cards charge premium annual fees for their premier cash back credit cards).

Be aware before you apply online that some of the better secured credit card options also offer reward programs, and that it is even possible to get cash back rewards using some prepaid debit cards. There is a card available for every lifestyle. You can consolidate debts using certain cash back cards, rebuild a bad credit history to an excellent rating. In addition, some of the cards are excellent choices for the needs of students or small business owners.

Some points to note about cash back credit cards:

  • Built up cash back rewards can expire if you fail to use your card for a period of time.
  • The cash back incentive is used to promote spending with the card. Some users fall into the trap of significantly overspending in order to get the cash back rewards.
  • If you fail to pay off your credit card balance at the end of each month, the interest due can very quickly eat up and nullify any earned rewards.

CardSight delves into the details of every offer, check out our expert cash back card reviews for additional analysis to see which cash back reward offer is the best option for you. When you are ready, the easy online application and quick approval process is only a click away.

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