You are a person with a good credit, and you are in the market for a cash-back credit card. With so many options available out there, which one do you select? The answer to that depends on both your shopping habits and other features you desire in a credit card. For that reason, you should compare the benefits offered carefully to review the bottom line savings and maximum rewards possible with each credit card.
Take for instance, the Chase Freedom® card. You can steadily earn 1% cash back on all purchases, and rack up to 5% cash back rewards on various categories, which change every quarter. If you are the type to pay attention to those changing categories and disciplined enough to purchase only those items that qualify you can maximize your cash back reward. Moreover, the Chase Freedom® card offers a $100 bonus cash back to new card members after spending a minimum of $500 within the first 90 days of opening the account. The introductory annual percentage rate (APR) is 0% on all purchases and balance transfers for 15 months. The regular APR is a variable 13.99% to 22.99% after that.
If you are a Bank of America customer, you may want to consider the BankAmericard™. You can earn a $100 cash back bonus after spending at least $500 on the card within the first 90 days of opening your account, and you will earn 1% cash back on all purchases. Additionally, if you are willing to charge your gas and groceries, you can 3% cash back on gasoline and 2% back at the grocery stores (at participating merchants) for the first $1500 in combined purchases in those two categories. The best feature offered with this card though is an additional on-going 10% bonus every time you choose to redeem your cash back into a Bank of America checking or savings account. The introductory APR is also 0% for both new purchases and balance transfers, but only for the first 12 months. Following the introductory period, there is a variable APR of 12.99% to 22.99%.
The Citi Dividend Platinum Select® Visa® card also offers 1% on all purchases and a $100 bonus after spending at least $500 within the first three months of signing up with them. They also offer 5% cash back in various categories which change every quarter. However, with the Citi card, the total cash back you can earn with this card is $300 per calendar year, (excluding the $100 signup bonus), unless you shop through the Citi Bonus Cash Center® where you can earn an average of 5% unlimited cash back through certain merchants who pass the discount along to you. The introductory APR is also 0% like the two other cards, and is good through the first 12 months after signing up. The standard APR is 12.99% to 22.99% following the introductory period.
If you hate the idea of having to pay attention to categories in order to maximize your cash back reward, the Capital One® QuicksilverOne® Cash Rewards credit card may be the best option for you. With this credit card you automatically earn unlimited 1.5% cash back on every purchase, every day. The rewards will never expire while the account is open. Moreover, you can redeem your cash back reward at any time for any amount. The introductory APR is currently 0% for purchases until May, 2015. However, that is not offered for balance transfers. The standard APR is a flat 22.9%.
As you can see, it pays to spend time comparing cash-back reward cards before signing up. Depending on your needs and desires, you can find the best card for you with a little research. Staying current with the top offers is a great way to maximize the benefits with cash back and rewards credit card offers and gain valuable perks, rewards and points including cash back that can be used throughout the year towards future purchases.