Not All Cash Back Credit Cards are the Same

When cash back credit cards were introduced several years ago, the entire concept was one many American consumers flocked to. Of course, the credit card companies were hoping we would.

These days, there are many of these popular credit cards available with a wide array of other perks built into the offer; ah, but make no mistake: they’re not all created equally. In this week’s post, we take a look at those differences in some of the most highly rated credit card offers so that you, as a consumer, can make the best choice for your credit needs.

The Basics

Of course, the first thing you should look for, no matter the offer, is the credit card’s terms and conditions. This is where you’ll find the details that explain the various dynamics associated with any offer. For instance, some cash back awards may not apply until you’re reached a certain threshold in your account.

You’ll also discover if there are any exclusions or if balance transfers are applicable to the minimum balance requirement. One credit card offer might tempt you with a higher cash back percentage on certain purchases, such as gas or groceries or sometimes fuel.

Also, there are a few offers that include spending caps, which means not all of your purchases will qualify after you’ve reached a certain threshold. These are considerations you won’t know until after you’ve familiarized yourself with the offer.

Discover More Credit Card

The Discover More card offers many perks along with the cash back feature. One of those perks includes a 0% intro APR on both purchases and balance transfers. This promotional feature applies for the first fifteen months of your account.

You’ll earn 5% cash back when you purchases groceries, visit restaurants or fill your vehicle with the card. There also exists another cash back feature of up to 20% when you do business with certain retailers. Even better is the absence of an annual fee and redemption fees. It’s a rewards credit card that’s worth your consideration.

Ink Cash Business Credit Card

There are many business credit card offers. The Ink Cash Business card is a great example. It allows business owners to earn up to a $250 cash back bonus, the rewards never expire and certain business purchases, such as some utilities and office supplies, are eligible for p to 5% cash back. There are several incentives that are attractive to any business owner, regardless of his company’s size.

Chase Freedom Visa

Chase is one of those networks that is always looking for ways to reward its card holders. The Chase Freedom Visa is one of the most successful efforts to date. Card holders earn a $200 cash back the moment they make $500 in purchases, provided it’s done in the first ninety days of opening the account.

Chase Bank keeps it exciting, too. Every three months it adds new categories for additional cash back opportunities. There are no limits on how much you can earn, nor are there expiration dates. You’ll also appreciate the absence of an annual fee.

American Express Blue Cash Everyday

The AMEX Blue Cash Everyday credit card has its own perks that are comparable with many of the better offers available. No annual fees and you can easily take advantage of this credit card’s “pay over time” feature. The 0% intro APR for a full year is also included in this offer.

There are several ways to earn cash back at varying rates and American Express even offers a $25 referral bonus each time you encourage a friend or family member to apply (provided they’re approved). You can transfer balances easily, too. No enrollment fees, spend minimums or worries about rotating categories completes this offer.

What’s important to remember is that you carefully review each offer. Not every rewards program is right for everyone. The trick is to find the one that is most beneficial to you and your spending habits. Also, your credit ratings will play a role as to what your interest rate might eventually be. Contrary to what many believe, you don’t have to possess extraordinary credit scores to qualify for many cash back credit cards.

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