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).
Blue Cash Preferred® Card from American Express. The Blue Cash Preferred Card from American Express Card offers a whopping 6% cash back on purchases at U.S. stand-alone supermarkets (up to $6,000), 3% cash back on gasoline at U.S. stand-alone gas stations and select major department stores, and 1% cash back on other purchases. In addition, you earn earn $150 cash back in Reward Dollars when you spend $1,000 in the first three months of Cardmembership. The card has a $75 annual fee, but keep in mind that spending $25 per week at your supermarket, you can earn over 75 Reward Dollars per year ($78) to pay for the annual fee by itself. Finally, don’t forget that you can buy a lot of nice gift cards at popular stores at supermarkets – I’ve seen Home Depot, Best Buy, Macy’s, Sears, and ARCO gas stations… Even Amazon.com!
The regular Blue Cash Everyday® Card from American Express gives you $100 cash back bonus after spending $1,000 in eligible purchases in the first 3 months of cardmembership, pays 3% cash back at U.S. stand-alone supermarkets (up to $6,000), 2% cash back on gasoline at U.S. stand-alone gas stations and select major department stores, and 1% cash back on other purchases and has no annual fee. If you spend less than a combination of $175 per month on groceries and $100 on gas per month, then the Blue Cash Everyday would give you more money back overall. Otherwise, the Preferred above works out better.
Capital One® Cash Rewards. The Capital One Cash Rewards Card earns 1% cash back on all purchases, plus a 50% bonus on the cash back you earn every year. As long as your card is still open at the end of the year, that’s a total of 1.5% cash back. You can request the cash back as a credit on your account, or in the form of a check. In addition, it offers an additional $100 bonus if you spend $500 within the first 3 months of the account opening. The Capital One Cash Rewards has no annual fee and a 0% APR on Purchases and Balance transfers until May 2014.
Chase Freedom® Visa – $100 Bonus Cash Back. The Chase Freedom Visa offers 1% cash back on everything with no tiers and 5% back back on rotating categories throughout the year. From April 1st to June 30th, you can earn 5% cash back on up to $1,500 spent in the following categories: Restaurants, Movie Theaters and Lowe’s stores. In addition, you can earn an additional $100 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.
- To apply, visit this link or call l 866-943-9615
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 back from Citi on rotating categories throughout the year. Between 4/1/13 and 6/30/13 earn 5% cash back at Home Depot, Home furnishing stores and home and garden stores, with enrollment. 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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