Here are what I feel are the best cash back credit cards available on the market today. I’m also a fan of cards that use points and miles, but here I am focusing on cash back only. Each of them works a little differently, so I’ve made a brief summary of each one so you can decide which ones are best for your spending patterns. Mix and match! With them, I can get benefits like fraud protection, expense tracking, and the most flexible of rewards, cold hard cash. Then I pay off my bill in full each month, and not a penny of interest is paid while I rack up hundreds of dollars a year in savings on things I would have bought anyway (over $300 last year).
Chase Freedom® Card. The Chase Freedom Visa offers 1% cash back on everything with no tiers and 5% back back on rotating categories throughout the year. From October 1st to December 31st, you can earn 5% cash back on up to $1,500 spent in the following categories: Amazon.com and Select Department Stores. In addition, for a limited time you can earn an additional $200 bonus if you spend $500 within the first 3 months of the account opening. Finally, you can extra cash back when you shop through select merchants in the Chase Ultimate Rewards Mall. No annual fee.
Citi® Dividend Platinum Select® Visa® Card. The Citi Dividend Platinum Select Visa Card offers 1% cash back on everything with no tiers and 5% back this quarter and every quarter on changing categories like home improvement, travel and more, . Between 10/1/13 and 12/31/13, earn 5% cash back at Best Buy, department stores and toy stores, enrollment is quick and easy. There is no cap on the 5% back, except for the $300 overall cap on all dividend rewards annually. In addition, it offers an additional $100 bonus if you spend $500 within the first 3 months of the account opening. Finally, you can also get 0% introductory APR on balance transfers and purchases for 12 months. No annual fee.
Fidelity® Investment Rewards® American Express® Card. The Fidelity Investment Rewards American Express Card earns 2% on all purchases, deposited into your eligible Fidelity account. No sign-up bonus currently available. No annual fee.
The catch? You must open a brokerage trading account, IRA account, or 529 college savings plan with Fidelity, and all cash back earned must be deposited into that account. Withdrawals from IRA and 529 must be qualified according to IRS tax rules, or are subject to penalties.
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