These days, it’s hard to imagine life without the security of knowing that you have one or two credit cards in your wallet. When used wisely, credit provides us with a convenient and efficient way to manage our monthly expenses, organize our bills, and finance major purchases. It’s an essential part of establishing and maintaining a budget when it comes to most people.
However, more and more people are discovering that there is a way they can get even more from their credit – by trading in their outdated, run of the mill card for a cash back credit card instead. These innovative and consumer friendly cards offer credit users a chance to earn cash back on every purchase they make. However, not all cards are created equal of course. Look for programs that offer the following to insure that you’re truly getting the most out of the program you choose.
1. High Rates of Return
Cash back rewards credit cards differ one from the other in that there are many different ways to accumulate and earn your rewards. The specifics depend on the program your credit provider is offering. Some allow you to accumulate points at the rates of one or two per dollar spent on your card. The points are then converted into cash to be returned to you at the end of a billing period. Others guarantee you a set percentage back on your balance. Whichever type you choose, be sure to look for a card that offers you a high rate of return on your balance. Why settle for a card that only gives you 2% cash back when you can have one that offers 10% or more?
2. No Limit On Rewards
Some cash back credit cards come attached to strict limits on the amount of rewards you can earn or be eligible for within a billing period or within a year. If you’re someone who uses your card to manage a large number of expenses a month or finance large purchases, then this could put a big crimp in your savings. Look for a card that doesn’t impose any earning limits on its rewards. Then you can rest assured knowing that the more you use your card, the more you save no matter what.
3. Low Interest Rate
If you plan on carrying a balance on your cards even occasionally, you definitely want to make sure you take the time to find a credit program that features a relatively low interest rate. What good are cash back rewards if they’re quickly eaten up by accumulated interest or exorbitant annual fees? Instead of jumping at the first offer you stumble upon, make sure the card you pick really does have the lowest rates available before signing on the dotted line.
It really pays – literally, even! — to do your research, compare interest rates, and pinpoint a program that offers you everything you’re looking for in a credit card. You can even compare offers and fill out a cash back rewards credit card right online, so what are you waiting for? Start saving money and taking the bite out of the economic crunch for your family today!
Compare the best cash back credit cards and then apply online. If you spend a lot on gas, you might want to consider a gas rebate credit card.