Finding the best cashback credit card is no easy feat. There are so many credit cards on the market, and most of them have high annual fees that make getting the most money from their rewards not really worth it. But with all the cards out there, it's difficult to decide on the right card for you, even with all the available choices.
The first thing you need to think about is whether you actually use your credit card regularly. If you do, then a rewards program may be right for you. But if you don't carry a balance, the rewards may not be worth the effort. Here, you will learn how to find the top cashback rewards cards, and what the best cards for your spending patterns have in store for you.
One of the most well-known cashback rewards programs is the Costco card. This card is perfect for people who aren't always in need of cash, as it gives you a significant cash back rate that doesn't depend on your spending. However, this card does come with a few restrictions, so it may not be a good choice for someone just starting out.
Another popular option is the American Express card, which have a high cash back rate that doesn't depend on your spending, and comes with an excellent rewards program. However, this card has several restrictions that might make it difficult for someone new to credit to get a good deal. For example, the American Express card only gives cash back on purchases made at participating stores, and it usually requires a balance transfer, which means you are stuck with your current card. A better choice, then, would be the Chase card, which doesn't require a balance transfer and gives the cash back in addition to the rewards that come from using your card.
These are two of the most popular cashback reward programs, but you might want to think about other options. Cashback rewards aren't necessarily the best ones. Many of the cards above require you to pay a balance off before getting any rewards. But if you carry a balance, the rewards from your regular purchases count towards your cash back total, making it easier to build a credit score quickly.
The cashback reward programs also allow you to set your own spending limits, so if you find a card with a good cash back rate you will be able to spend less than you'd otherwise and still build a high enough credit rating to qualify for better rewards. And if you're looking for the right rewards program, you won't have to worry about annual fees, because these cards don't have them.