Best New Cash Back Credit Cards Reviewed Daily For Top New Offers
Guide To Finding the Best Cash Back Credit Card for You
One of the most enticing rewards any credit card company can offer you is cash back. Money credited to your account simply for using the card, and shopping as you normally would, is simply irresistible. The best cash back card depends on you personally, and the manner in which you already shop. Find one that is tailored to those habits, and you are in a very advantageous position.
For Conservative Spenders
If you closely monitor every penny that leaves your wallet, and tend to spend in moderation, think twice before signing up with a card that imposes an annual fee. Since you won’t likely charge enough to rack-up a considerable cash back bonus, there is nothing to off-set the fee. If, however, you can find a low fee, along with the option to earn cash back rewards despite not spending a lot annually, you’ve probably discovered the perfect card for you.
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If You Spend Liberally
A few credit card companies offer tier based cash back rewards, giving you more back once you pass a spending threshold. For example, you may earn a half a percent back on purchases up to $2500, a full percent on anything more than $5000, and upwards from those figures. There may be a cap on your potential cash back earnings, so it helps if you can project your spending accurately, and base your decision on the outcome of those calculations.
Look Out for Limits
While the offer made by a cash back credit card may look good at first glance, the fine print may convince you otherwise. For example, your cash back rewards may be limited to certain purchases, and only up to a certain percentage of the overall money you spend in that category. In which case, you may be better off looking for a lower cash back rate that comes with fewer limitations.
Redeeming Your Rewards
Cash back doesn’t always happen automatically. As you might expect, companies don’t like to part with money, even though it’s rightfully yours. You may need to make a call in order to have your redemption initiated, and may also need to wait until it reaches a certain amount before it will be credited to your account. While these factors are not usually deal breakers when other terms are favorable, they are things you need to evaluate, and keep in mind when the time comes to claim your cash back.
The Inevitable Charges in Interest
While cash back rewards are indeed a beautiful thing, their value could quickly dissolve if you fail to pay your balance in a timely manner. When this situation occurs, the interest charges you face can negate the cash back positives, leaving you in the position to barely break even, or possibly end up with red ink on your ledger. As with any enticing offer, you must carefully analyze the possible ensuing outcomes, and decide where you fall in terms of the specifics.
The advantages of cash back credit cards can be very enjoyable. Provided you check your facts beforehand, and keep yourself compliant with all terms and conditions, getting money back on purchases you would have made anyway really can’t be beat.