Cash Rewards Credit Cards

Credit card rewards come in many varieties because the finance industry has been spectacular at innovating and coming up with credit cards that offer a wide spectrum of reward types to match consumer. At the end of the day however, cash back cards offer a great extra benefit that can put you in a great financial position. In corporate finance there is an old saying that cash is king and although times have certainly changed, cash rewards credit cards are still vying to be the king of the credit card domain.

The way you go about getting a cash rewards credit card starts with the application process. You need to apply for a card using some very common information about your job and life circumstances. You will then either be approved or rejected by the credit card company depending upon your credit worthiness. There are a plethora of variables that go into your credit score but ultimately if you avoid late payments and are generally good at paying off your debt on a regular basis. Avoiding accruing finance charges and late payment fees are also a great way to up your credit score and improve your chances of getting approved for a credit card.

There are a multitude of cash back credit cards to choose from and the following will be a selection of the best and most diverse options. The Discover It cash back card gives you five percent cash back at specifically designated places like grocery stores, gas stations and restaurants. There are specific stores that give that percentage and it is probably the highest rate that you will see if you are simply looking for the highest rate. However, the places that will give you that percentage are extremely limited and change every quarter.

Another option is the Chase Freedom Unlimited card which will give you three percent back on the first twenty thousand that you spend. After that you will get one and a half percent back on all other purchases. There are also several cards that offer three, two, one programs. That is three percent back on gas purchases, two percent back on clubs like CostCo or other grocery stores and one for all other purchases. Those three options are all for cards that do not have an annual fee charged to you.

There are many cards that do charge an annual fee but provide even higher cash rewards than were already mentioned. The Capital One Savor card for example will get you four percent back on dining and entertainment options and that is unlimited. An even more unique option is the American Express Blue Cash Preferred Card which will give you six percent cash back on grocery store purchases and six percent on streaming services like Redbox and Hulu. This is all for an annual fee of seventy five dollars.

All of the cash back options will grow your wallet just for making purchases and will make you feel like a king or queen.