Cash back credit cards are a great way to make a little extra money from money that you are going to spend anyways. But, it is important that you find the best cash back credit card that fits your spending habits. Hopefully this article will help you to find a cash back credit card that fits your spending habits.
Warning: If you already have credit card debt or have had credit card debt problems in the past, do not use cash back credit cards. The little amount of money that you can make from them is not worth the risk of running up credit card debt.
Top 5 Cash Back Credit Cards
Discover Motiva Card
I think that the best cash back credit card at the present time is the Discover Motiva Card that gives back up to 20% cash back on purchases through their Shopdiscover online store. There is 1% cash back on all other purchases which has no upper limit.
This card has no annual fee and the current APR is 3.99% for the first 6 months then can be as low as 11.99%. The rate after the introductory time is dependent on the applicants credit score.
Discover More Card
The Discover More Card gives 5% cash back on purchases made on travel, gas, groceries, and restaurants. Also, there is 5% to 20 % at the Shopdiscover online retailer and 1% on all other purchases.
There is no annual fee and the intro APR is 0% for 6 months then as low as 11.99% which is dependent on the applicant’s credit score.
Chase Freedom Card
The Chase Freedom Card gives $50 cash back after the first purchase is made. There is also 3% cash back on a rotating selection of categories like gasoline, home improvement, supermarkets, and department stores. The remainder of purchases is a full 1% cash back.
This card has an introductory APR of 0% for 6 to 12 billing cycles. The length is determined by the applicant’s credit score. After the introductory rate expires, the rate could be as low as 13.24%. This again is dependent on the applicant’s credit score, but there is no annual fee.
American Express Blue Cash Card
The American Express Blue Cash gives card holders up to 5% back on purchases made at supermarkets, gas stations, and drugstores and 1.25% back on all other eligible purchases.
This card has an introductory rate of 0% APR for 6 months with no annual fee. After the introductory period, the APR can be as low as 13.99% plus the prime rate. This is dependent on the credit score of the account holder.
Capital One No Hassle Cash Rewards Card
The Capital One No Hassle Cash Rewards card offers 2% cash back on purchases at gas stations and major supermarkets and 1% back on all other purchases.
The introductory APR is 0% until December 2010 then is raised to 14.9%. There is no annual fee associated with this card.
These are the top 5 Cash Back credit cards as of December 2009.
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Thanks for your thoughts on credit card options that are out there with points attached. Your disclaimer is important—you’re not going to get rich off of credit card rewards, so it’s not worth getting in over your head. If your sensible and pay it off every month, this is a good way to go. We’ve decided to go to strictly debit card usage because our credit union offers 6% interest annually for using a debit card 10 times per month.
Andrew @ Earn Give Save´s last blog ..Our home-iversary!
Cash back credit cards can really save you some money. I have the discover gas card that pays 5% back on gas. Too bad its only 100 bucks a month.
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