Top Cash Back Credit Cards For 2018
Our mission is to help consumers find the best cash back credit cards for 2018! These credit cards can offer amazing perks and promotions, and if used correctly can help you accumulate hundreds and possibly thousands of dollars in cash every year, simply by utilizing your credit card to cover your everyday purchases. Many leading credit card companies (Discover, Bank of America, Capital One) are offering new promotional offers for consumers. These sign up offers and promos can include cash back bonus offers that have the potential to double your cumulative cash back rewards!
Best Promotional Cash Back Offers 1% to 5% Deals
Cash Back Reward Credit Cards From AMEX, Barclay, Chase, Citi, Capital One and Discover
Guide to finding the perfect cash back credit card
It seems like every day we see a new, shiny website, app or tool that is offering to save us money or offer us cash back on “everyday purchases”.
With all the options available to us it’s often difficult to know which ones are the best and which to trust. Thoroughly researching your options is a good route to take, but that can be a time consuming and frustrating experience.
We hope to take help simplify this process for you.
First, let’s make sure we’re both on the same page. A cash back card refers simply to a credit card (CC) that allows you to earn rewards or points on the money you spend. These points or rewards can then be used to redeem cash back or other prizes.
As you can imagine, cash back CC’s are highly appealing. You make purchases (just like normal), and then a certain percentage of that purchase is credited back to you in the form of points or cash back. Sounds great right?! That’s because it is.
But….these cards can and do differ from each other. Some have complicated reward schemes or tiered point systems, others only offer “cash back” on certain purchases while other items are excluded. What a drag!
This guide will walk you thru the three most common types of rewards cards, helping you to make the best decisions when conducting your own research.
Learn More About Diferent Cash Back Credit Card Types
1. Fixed-Rate Cash Back Cards
If simplicity is your thing, this is the card for you. No complicated points systems and no frills. These cards typically offer a single cash back percentage or rate, regardless of what you purchase or where you purchase it at. Online or offline, the rate stays the same.
The downside is that this “simplicity’ comes at a “price”, so to speak. With a single rate card, you can’t take advantage of intentionally using your card to purchase items with a “higher” rate, while using cash or another card to make all your other purchases. In short, it doesn’t allow you much freedom to pick and choose which items to buy on your CC in order to maximize potential cash back.
The majority of these cards offer around a 1.5% cash back rate, and some offer marginal signup bonuses as well. While these rates are “ok”, you can often do better by mixing and matching other cash back reward CCs for maximum savings. More on that to come…
2. Fixed-Category Cash Back Cards
The next type of card we’ll cover is a “Fixed-Category” cash back CC. These cash back cards are easily identifiable because they offer reward rates for specific categories like grocery, gas, etc. These cards also typically offer a higher cash back reward rate, often ranging as high as 2-4%.
Now, you’ll only get cash back when you make purchases in the qualifying categories, but they can be especially worthwhile if you drive a lot or have a large family where buying a lot of items in a specific category may lead to big benefits.
3. Rotating Category Cash Back Credit Cards
If you’re a planner or someone that likes to strategize, these cards might be the right option for you. While each card is often limited in terms of what categories do and do not offer cash back, combining cards to use in your daily life can result in maximized savings.
As the name suggests, there are a few catches. First, purchases that result in higher cash back rates are usually limited and the category in which they are offered for rotates. Think of these as being similar to a store “special” that is good for a certain number of days for a certain product or department. For example, one month you might get up to 6% cash back for electronic purchases, another month it might be 5% for gas.
To make the most out of these cards you had better be organized. But if you’re willing to put in the time, stacking multiple cards can make all the difference in your daily finances.
When it comes to cash back or rewards credit cards the options available to you are many and varied. We hope this guide helped you gain a better understanding of what’s available and the types of CC’s that might be the best fit for your financial goals.