The best cash back credit card is, foremost, the card that gives you rewards at the locations you spend the greatest amounts, and allows you to easily redeem rewards or points the way you desire. These “redemptions’ could take the form of cash, hotel or air credits, specific account credits, favorite products or even merchandiser gift cards. Card issuers haven’t always offered these incentives or cash rewards on purchases. In fact, some platinum, gold, or diamond credit cards formerly charged annual fees and offered no rewards plans for credit card holders.
The basics of these best cash back credit cards are that you can receive money back on your purchases, as much as 5% in certain categories like travel or groceries, and many others, and as much as 1% in areas outside the main categories.
You can also receive huge discounts when purchasing through merchant partners, unique seasonal offers or bonuses for utilizing your new card. One possibly can even redeem your payoffs for shopping price reductions, gift cards, travel, hotels or even gifts to the charity of your choice.
So, what things should you look for to obtain the best cash back credit card? Look for a card that has no annual fees. High annual fees can negate any money earned from a cash back card. Determine which cards pay at least 5% cash back on a wide range of items you use, like restaurants, and gasoline, travel, and even groceries for example. This is where you will receive your best bang for your buck.
Make certain that you receive cash back on every single purchase, regardless of category.
Ascertain whether your new card has a huge network of merchants domestically and internationally. Nobody wants a card that you cannot use across the globe. Question the card issuer about redemptions off your cash back awards. Can you redeem in cash or credit, and are there other methods as well? The more ways you can redeem your rewards, the merrier.
Determine redemption time limits. Time limits on redemptions place restrictions on how and when you can redeem. There should be no restrictions at all other than a minimal monetary threshold. Find out if there are any other free benefits, such as automatic over-the-limit alerts and payment due date alerts. The best cards offer free travel insurance as well as travel assistance, These simple extras could save you a fortune.
The best cash back credit cards have been independently rated. Make certain you always go for those highest rated, because those cards work hardest for you. Understand that nothing is free, but if you want to level the playing field, then take advantage cash back offers that provide all of the above.