Cash back credit cards are very popular today. In fact, credit cards with cash back bonuses are among the most heavily marketed. They offer a choice of different reward programs. You can choose from a point system, air miles rewards, gasoline rewards, department store discounts and so much more. They are a great way to save money and get the things you really want.
Most cash back credit cards come with a range of different reward programs. These are things like airline miles, gift certificates, department store discounts and more. All of these earn you either a point or a percentage towards the total amount of your purchase. You then get to keep that money when you make your next purchase, providing you use your card to pay for it.
Cash back credit cards come with different earning rates. The higher the earning rate, the more money you will earn. Depending on the type of card, the amount you can earn may be a flat dollar amount or a percentage of your total spending. In many cases, the point-based programs are the better choice since they are more flexible.
There are some cash back credit cards that charge a fee for the rewards. The fees are generally in the form of an annual membership fee, per transaction fee or a service charge. You need to read the terms and conditions of any program you sign up for very carefully before you agree to the fee. This will ensure you are not paying out too much just to get some rewards. If you are using the cards for purchases that you will not likely be using again anyway, you may find the one-time fee is worth it.
Cash back credit cards that allow you to choose from several different reward categories can be a good choice if you like to shop in several different stores. For example, if you like to buy movies online, you could choose ones offered by Chase Ultimate Rewards, Costco or Yahoo. Each one allows you to choose from a variety of categories. Some cards even have special offers available if you spend a certain amount within a specific time frame. In these types of programs, the rewards are usually in the form of vouchers you can use to purchase merchandise in the program.
The best cashback cards are those with the most options, the lowest fees and the highest point-based rates. The chase freedom flex card from Discover is currently the best choice. This card allows you to choose between a variety of reward categories including gas and food and has no annual fee. You can also receive up to five percent cash back on all purchases you make.