Cash Back Credit Cards: The Best Credit Card Reward Programs
Over the past two years, and especially since the credit crunch began, credit card companies have been cutting back on cash back rewards. In 2006, for example, Citi offered a credit card that offered a full 5% cash back on all gas and grocery store purchases. Savvy credit card users jumped all over this offer. They used the credit cards only in the places they could get the best cash back, and then paid their balances in full every month. This, unfortunately, made the card unprofitable for Citi, and soon it was pulled from the market.
Despite these changes, cash back credit cards still offer consumers great value. For starters, unlike airline and travel reward credit cards, cash back credit cards almost always come without an annual fee. Additionally, many cash back credit cards offer 0% interest rates for a full year as well as lower long term APRs compared to airline rewards credit cards.
Of course, the most important benefit of cash back credit cards is the most obvious: they pay you cash back. Credit cards that offer points, airline miles, or hotel rewards can be rewarding to people who spend and travel heavily. However, with a cash back credit card, you can simply use the cash you earn to pay for whatever you want, whether it be a flight, a dinner, or your credit card bill.
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*All cash back credit card application information is presented "as is" and without warranty and is subject to change. See cash back reward credit card applications for complete terms and conditions.All stated credit card APRs are lowest available rates. You may be approved and offered a higher rate. Credit Card Depot Inc. attempts to maintain accurate information, but occasionally, a discrepancy may occur. For complete offer details on cash back credit cards please visit the websites of the respective credit card issuer. |
