A reward card is usually a type of credit card which gives benefits to its user upon usage. Rewards are normally in the form of services, such as cash refunds, discounted prices on future purchases, airline tickets, and in vehicles. If you haven’t taken a moment to scout new credit card offers, the time has arrived. Credit card companies are battling for the largest client base, and as a result, consumers are on the receiving end of very attractive benefits. One of the most popular types of cards on the market today is the cash back reward card. Although the logistics change depending on the financial institution, the result is the same: get cash back on every purchase!
Below are the top four cash rewards cards; check out the benefits and choose the one that’s right for you. I’ve chosen these particular offers because of the size of the rewards and because of low interest rates.
Chase Cash Plus Rewards Visa Card
This is one of my favorite cards because Chase doesn’t bog down the customer with a laundry list of rules and regulations. With some available cards, you have to follow very specific guidelines in order to receive rewards. With the Cash Plus Rewards Visa, all you have to do is use the card, and you’ll get cash back.
Every time you use the card at a grocery store, gas station or drug store, you receive 5% back. When you use it for other purchases, you get 1% back. Then, when you build up a balance, you can either request a check from Chase Bank, or you can request a gift certificate for merchants such as Best Buy, Macy’s and Home Depot.
There’s no annual fee for the Cash Plus Rewards Visa card, and new customers receive a 0% introductory APR for up to twelve months on both balance transfers and purchases.
HSBC Cash Back Rewards MasterCard
I recommend this card for anyone who enjoys security protection and fair, competitive rewards. With the HSBC Cash Back MasterCard, you receive 1% cash back on all purchases, with no spending requirements. They offer a 0% introductory APR for the first twelve months. There is no annual fee, and you’ll receive Zero Liability in the event that your card is stolen or used without authorization.
With the Chase card, you received 5% on some purchases, which is not true of the HSBC card. However, this card comes with unlimited purchase protection, extended warranties, and travel accident insurance.
Citi Dividend Platinum Select Credit Card
This is a card for anyone who wants cash back rewards, but who plans on paying the card off every month. Customers receive 5% back on purchases at grocery stores, drug stores and gas stations, and 1% back for all other purchases. Citi offers a 0% APR on balance transfers for the first twelve months, but the regular APR is higher than the other cards being compared here. The rewards are good, but this is not the card on which to carry a balance.
Citi offers the highest in security protection with a Photocard option and a fraud early warning block. They also provide Lost Wallet Protection, which means that if your card is lost or stolen, they will replace it within 24 hours.
Blue Cash from American Express
This is the perfect card for anyone who wants to share the benefits with a family member. Blue Cash offers up to 5% on all purchases – the most at drug stores, grocery stores, gas stations and home improvement stores – and you receive the same cash back rewards with additional cards. That means that if your spouse, parent or child has a copy of the card, you earn cash back with their purchases as well.
Blue Cash offers a 0% introductory APR for the first six months, with a low regular APR afterwards. There is no annual fee, and no spending requirement to start receiving cash back. You might also want to check out American Express’ Smart Chip service with ID Keeper. This web tool allows you to store personal log-in and password information for the web so that you don’t have to input your information every time you log on.
Cash back reward cards are an excellent way to get your feet wet in the credit card world. Try some of these on for size, and see what they have to offer. If you’re going to be buying things anyway, you might as well reap additional benefits!
Discover More. This Cashback® card from Discover currently returns 5% Cashback® Bonus in a wide variety of categories such as home improvement, gas, restaurants, pet stores, departments stores etc. When there is no bonus, then the Cashback® is 1% and if you use there online shopping site, the Cashback® Bonus runs from 5% to 20%.
TrueEarnings® card from Costco & American Express. This card currently returns 3% cash back on gas & restaurants, 2% on travel and 1% on everything else. It works both as an American Express card and a Costco Membership card.
Discover Miles. If you are in business and travel, the best rewards card for mileage is Miles by Discover. They currently offer Double Miles on travel & restaurant purchases and One Mile for every dollar on everything else. You can accumulate unlimited miles and there is no annual fee.
Each time you spend money on anything there is a reward attached to it if you use the right credit card. Accumulating mileage for travel saves a lot of money when compared to the price of airline tickets. For those who don’t travel that much, then there are other business credit card offers, or 0 APR balance transfer offers that tack on rewards for your purchases.
A survey by Consumer Action reports that the average household receives 13 credit card offers every month! This includes both mail and e-mail offers. There are generally two types of offers pre-screened and invitation to apply offers. Pre-screened offers do not mean that you will automatically be approved. It just means that the average person with your credit score usually gets approved.
Financial analysts suggest that in order to find the top offers, you should throw away all pre-screened ones and go for the invitation to apply deals instead. These are generally cards with better rewards, lower interest rates, and are based on more than just a credit score. Then you should look at the invitation to apply cards and choose the top three that interest you.
By law, the offers must includes the annual percentage rate, variable APRs, fees, grace period, and how the balance is calculated. To find additional information such as rewards and cash back on your top three choices, you will need to research further. The best way to do this is to compare your options online. You truly can save money by shopping around first.