One thing you should keep in mind is that these cards, just like normal credit cards, usually need a good to excellent credit rating for approval and are usually available with a steep interest rate. If you transfer a balance month-to-month, you'll most likely end up paying back a copious amount in interest of what you are allocated as cash back so you have to keep in mind which is the best cash back rewards for you.
Cash back credit card rewards offer you the most vital and common currency available, which is cash, to spend as you see fit. After conducting a survey in 2015, financial analysts came to the conclusion that cash-back rewards are as much as three times more popular than any other rewards, like travel rewards or accommodation rewards programs. The "cash" can be added to your credit card balance or can be redeemed for purchases, or can even be mailed to you in form of a check says Roger Brooks, the senior vice president of business development at ZipLine Payments. If you are looking for cash reward credit cards with no annual fee and with highest cash back rewards, then the following are recommended.
Chase Freedom Unlimited Card
First - Chase Card which offers you a 1.5% cash back on every purchase that you make plus a sign-up bonus where you are allocated a $150 cash bonus when you spend at least $500 within the first 3 months of account opening with an additional $25 perk in the event that you make your first buy and add alegitimate user to your account.
Blue Cash Everyday Card
Blue Cash Everyday Card from American Express - with this card, you get a 3% cash back at supermarkets, 2% at filling stations and department stores, 1% elsewhere and up to $300 Sign-up Bonus. If you make $1,000 in qualifying purchases within 3 months, you get a $100 statement credit also earning 5% cash back on travel-related purchases in the first 6 months.
Fidelity Rewards Visa Signature Card offers a cash back credit card rewards of an unlimited 2% cash back on all purchases and currently having no sign-up bonus.
Chase Freedom Card gives you 5% cash back in varying categories every three months and 1% on everything else. In the instance that you make $500 in related purchases within 3 months of opening your account, you are awarded $150. You can earn an additional $25 by adding a legitimate user to the account and making a purchase within the same duration.
Another interesting offer
- Discover it Card; you get awarded 5% cash back in varying categories every quarter, 1% on everything else and double cash back your first year.
- Discover it Chrome Card; it offers you 2% cash back on dining and gas, 1% cash back on everything else and double cash back your first year.
- Capital One Quicksilver Card; offering 1.5% cash back on all purchases, $100 sign-up bonus with a perk of having the 10th ride free with Uber. Earn $100 when you earn $500 in qualifying purchases within 3 months of opening your account.
- Citi Double Cash Card; you get 1% cash back on all purchases with an additional 1% cash back on all balance payments at or above minimum payment. There's currently no sign-up bonus.
Even the most benevolent cash back credit cards hardly offer more than 5% cash back on any purchases. To get a credit card cash rewards that offers more than 2% or 3% cash back most likely will require you to keep track of specified expenditure categories or adhere to purchase limits. By contrast, cash back credit card APRs (Annual Percentage Rates), like MasterCard with cash back rewards, usually range from 10% to more than 20% in some cases.
Frequently carrying a balance from month to month negatively affects your cash back earnings, contributing to the actual cost of your purchases. Therefore choose only the best credit card cash back rewards program that will suit your needs and not ruin your credit score.