If you're in the market for a new credit card, you need to know what the best cash back credit cards really are. There is a wide variety of cards out there, each offering different incentives and rewards. The key is to find the right card for your spending habits. There are several factors that you should take into consideration when it comes to selecting the best cash back credit cards.
First, look at the interest rate. Credit cards usually have different interest rates and terms, such as annual fees, grace periods during which you can make balance payments without interest accumulating, and the cash-back limit (the amount you'll receive in cash back if you make your payments on time). Some of the best cash back credit cards usually offer the same cash-back rate on all their purchases, while other cards offer special bonus points on some purchase categories, or offer zero percent APR at the start of every year. The best cards will be those that have the lowest balance transfer fees and interest rates, and also those that offer the longest grace periods.
Next, consider the bonuses. A lot of credit card companies will offer consumers a bonus for making their purchases. These can range from cash rebates on the purchase of a new camera to plane tickets to free airline tickets. However, remember that these bonuses will only be good for the first year and will eventually expire. The best cash back cards will give you high cash-back percentages on all of your purchases for the full year but will not require you to pay any annual fees or interest charges.
Finally, look at the types of transactions you can use your card for. Cash back cards can be used to earn cash online, but they are usually best taken for big-ticket purchases that would take a bank twenty-four hours to complete. Airline frequent flier miles can be used to earn free flights, but you must also be able to accumulate the miles and use them to purchase merchandise. When you combine all of these methods, the best cash back credit cards can be the best airline travel rewards cards.
Now that you know what the best cash back credit cards were, you just need to figure out which one offers the best terms and benefits. First, figure out how much money you want to put on the line each month. The best credit cards will be the ones with the most allowances for you to put cash on the line. Keep in mind that these lines cannot exceed the amount of available credit on your card. The best cash back cards will let you pay cash for the purchases you make, but charge you a fee every time you do so. Look for the longest terms on the best cash back credit cards, as this allows you to pay off the balance more quickly.
If you travel a lot on business or for pleasure, you should check out the Capital One Savorone cash rewards credit card. With this credit card, you earn two bonuses at the end of every three months that you maintain your membership. You get twice the reward points for dining out, and you earn 1.5 percent cash rebates on the purchases of gas and groceries you make. No annual fee means it is easy to qualify for the savings, and you earn double the points for the benefit of dining out and saving!