Best Cash Back Credit Cards, August 2011


Best Credit Cards – Best Rewards Credit Cards – Cash Back Credit Cards

With so many credit cards on the market these days, it may be hard to decipher which card is best. Rewards and incentive programs with credit cards are often popular choices because card holders get extra just by making their regular purchases.

Cash Never Gets Old

One of the most popular incentive programs is the cash back rewards that many credit card providers are now offering. The cash back reward programs give straight cash back based on a percentage of total purchases the card holder makes in a billing cycle.
Unlike other rewards programs, cash back rewards do not have specific limitations to a lifestyle. Cash is good anywhere and you don’t have to be a frequent flier or traveler to reap rewards. Different credit card providers have different requirements for earning cash but since cash is accepted for everything, card holders are not limited as to how to collect on their rewards.

Comparison Shopping

While it may seem that all cash rewards credit cards are the same, there is one point in particular credit card shoppers should consider before applying for just any cash back rewards credit card.

Other Reward Credit Cards:

Different card providers offer different percentage rates for cash back rewards. It is important to compare how much cash back you can earn. For instance, a credit card offering 5% cash back would be more lucrative than one that offers 1%. Depending on your credit score and financial abilities, your cash back rewards will differ between card providers.

Another factor to consider when card shopping is how cash back rewards can be earned. Typically, a card provider will offer a standard 1-2% cash back program for all purchases made on the card. There may also be an additional incentive for using your credit card at select merchants including different gas stations, grocery stores, or other retail outlets. When using a card at designated locations, card holders may earn an additional percentage of cash back for those purchases.

A final factor to consider before applying for a cash rewards credit card is how the rewards are distributed. Some credit card providers will only allow you to translate your cash earnings as a credit to your bill. This can be a good way to maintain a zero balance on your card at the end of each billing cycle, a factor in your credit score. Other card providers will deposit the cash amount you have earned in a billing cycle into a bank account of your choice or by a paper check mailed to you billing address.

Improving Your Purchase Power

It really pays to comparison shop between cash back rewards programs being offered by credit card providers. Finding a credit card that matches your spending needs and your cash back expectations makes a big difference in your overall financial profile. Using a credit card that does not add value to your life may hurt your credit standing.
Credit cards that offer cash rewards can be an asset to your financial life. When used correctly, you can boost your credit score and earn the cash you need to keep your account in good shape. Be clear about how much you earn in cash back rewards and how you can use your purchase power to increase your own finances.

Cash back rewards are available through many popular credit card providers and may also include other rewards incentives for the card holder. Utilizing your cash back rewards as a way to pay off your balance is an excellent choice for improving your credit score. With the right cash back rewards credit card, you can implement savings into your regular spending habits.

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