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Free Cash Rewards Platinum Visa® Card

• 1,000 Bonus Points**
• Earn 1 point for every $1 in card purchases and interest.
• Accrue 2500 points and receive a $25 check or a $25 gift certificate from many leading national merchants.
• Your statement shows your points total, making it easy to see how much you've earned.
• No Annual Fee
• Intro 0% Fixed APR for up to 12 months*
• Visa Platinum Benefits

Credit Card Rewards Programs Explained II:  The Chase Free Cash Rewards Platinum Visa® Card & Blue Cash^SM  cashback credit cards.

I’ve written previously on the subject of cash back credit cards.  However, the differences between the various cash back credit cards on the market are substantial enough that some cards deserve a closer look.  Here, I will examine the  the Chase Free Cash Rewards Platinum Visa® Card & the Blue Cash from American Express® credit card.

The Chase Free Cash Rewards Platinum Visa® Card offers a straightforward 1% cash back on all purchases.  You can begin redeeming your cashback rewards with only 2500 points, which will earn you $25 cash or a $25 gift certificate from one of many major retailers.   Additionally, the Chase Free Cash Rewards Platinum Visa® Card actually does offer "free cash".  It comes in the form of 1,000 bonus points that are given after you receive the card.  Because of this reward, the Chase Free Cash Visa® stands out as the cashback credit card that makes it the easiest to cash-in your points for actual dollars and cents.  Lastly, and perhaps most importantly, the Chase Free Cash Visa® offers one of the lower interest rates of all the current cashback cards on the market.  In the long run, the savings this lower interest rate provides will generally save you more money than a large cashback check from a higher interest card.

The American Express® Blue Cash credit card offers a vastly different rewards program.  Like the other cashback credit cards, Blue Cash^SM offers a full 5% cashback on everyday purchases from grocery stores.  Additionally, Blue Cash also offers up to 1.5% cashback on all other purchases.  However, there are two very significant matters of fine print with this cashback card.  First, cashback is only earned at a rate of 1% for everyday purchases and 0.5% for all other purchases for the first $6500 spent during a year as a card member.  Once $6500 is spent, you then begin to earn 5% on everyday purchases and 1.5% on all other purchases.  Then, two months after your card member anniversary date, the cashback you earned with your American Express® Blue Cash card is credited to your statement.  Because of the fixed payment date, you cannot simply redeem your rewards whenever you choose as you can with other cashback cards.

Unlike the Free Cash Rewards Platinum Visa® Card program, the American Express® Blue Cash cashback rewards program allows you to earn unlimited cashback, which can easily add up to more than $500.  However, most credit card users won’t spend enough to take advantage of this card's full reward potential.

I may be wrong, but I believe cashback credit cards are the best credit cards on the market.  Why?  Because they pay you money.  Call me crazy, but I stand by my opinion.  However, when choosing a cashback credit card, it’s very important to get the card that best fits your needs.  For most, the Free Cash Rewards Platinum Visa® Card offers the most accessible cashback rewards.  However, larger spenders can reap significantly more cashback with the American Express® Blue Cash.