Cashback Credit Cards.
Why not the make most of your everyday spendings?
Cashback Credit Cards are a great way
to make your everyday purchases more rewarding
Top 4 Cashback Credit Cards
Pros and Cons of Cash Back Credit Cards
Using a cash back card is like getting paid for all the shopping you have done with your credit card. It’s the stuff of dreams for some folks. You basically get a percentage of the credit card purchases you make each month, however do take note of the pre-set minimums.
That means you can get a cash back rebate if you make the minimum amount of purchases. Some minimum purchase requirements go as low as $20 – that means your purchases should be at least that much. However, some pre-set minimum amounts can range up to $100 – again, read the fine print so you don’t get disappointed if you don’t get a cash back rate for your other purchases.
As you can see, there are pros and cons of these cash back credit cards offers. Here are some more pros and cons that you should know about. Let’s start with the advantages.
Chase Freedom Unlimited
Chase Freedom Unlimited gives you a 1.5% cash back on all your purchases. This means you can redeem virtually anything – virtually. Again, read the fine print. There are a few purchases that you won’t give you a rebate or reward.
Now on top of the flat rate of 1.5% (which is already a bit generous compared to some credit cards out there), you also get a sign up bonus. The worth of the bonus is around $150 up to $175.
Blue Cash Preferred
This credit card offers you with 6% cash back rewards. That’s huge. It also gives you 3% cash back on purchases made in department stores and gas stations. All other categories of expenses will get 1% rebates.
On top of that you will also get $350 as a sign up bonus. The drawback is that the application process is pretty stiff (check your credit scores if it is high enough). Another downside is the $95 annual fee. One last thing – this is an American Express card so not every vendor will honor this credit card.
Fidelity Rewards Visa Signature
This cash back card gives you 2% cash back on all purchases. Minimum redemption rate is at $50. The APR is at 14.24%.
This is different from Chase Freedom Unlimited. This one offers a rotating cash back rate of 5% on the monthly selected purchase category and 1% on every other expense you make.
Just like Chase Freedom, this also features a rotating cash back rewards program. 5% cash back on selected categories of purchases and 1% on everything else. On top of that, you get 0% APR on the first year and it doesn’t have an annual fee.