cash-back credit cards

Jan 21, 2009

Cash-back rewards credit cards are a favorite among consumers with excellent credit who pay their balance in full each month. It only makes sense to get something back for the money you spend!

These cards typically carry higher interest rates than standard, no-frills credit cards. That makes them a poor choice for consumers who carry credit card balances from month-to month. 1% or 2% cash back will not make up for an extra 5% or 10% in interest fees.

Some also carry an annual fee, so before you choose, consider how much you spend each year. Will you get back an amount greater than the annual fee?

As with the non-cash rewards credit cards, offers vary with regard to the cash back given on different kinds of purchases. Some even offer big bonuses for making a purchase within a set time after receiving your card.

Many cards offer double or triple cash back on gasoline, entertainment, or grocery purchases, while some offer cash back only on those purchases.

For instance, Discover offers a credit card with cash back on all purchases, but additional cash back on categories which change periodically. One quarter it might be grocery purchases, while in a different quarter it will be entertainment. They also offer a card that gives 5%-20% cash back on purchases made through their on-line shopping site.

The HSBC Weekend card offers 1% back Monday through Friday, and 2% back for week-end purchases.

With such a wide choice of options in cash back credit cards, it pays to take your time and compare. Choose the card that fits your lifestyle, so you get the maximum amount back.

If you have purchases, such as gasoline, that you pay in full each month, use a cash back credit card for those purchases while using a low interest “no-frills” credit card for large purchases that must be paid off over time.

Click here to see the wide variety of cash-back and non-cash back rewards cards available to you.

Informed choices are a sign of wise money management, so compare before you choose. And remember, offers change, so double-check your information on the day you apply for your new credit card.

BestRateforCreditCards.com your resource for credit cards, business credit cards, student credit cards, secured credit cards, and prepaid credit cards. We also provide a weatlth of information about the importance of having credit cards and how they will benefit you.

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One Response so far | Have Your Say!

  1. CreditScoreQuick
    January 22nd, 2009 at 8:16 pm #

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BestRateforCreditCards.com your resource for credit cards, reward credit cards, business credit cards, student credit cards, secured credit cards, prepaid credit cards and Credit Cards for Bad Credit. We also provide a wealth of information about the importance of having credit cards and how they will benefit you.