How to Compare Cash Back Credit Card Offers

By admin on Aug 11, 2008 in Reward Credit Card Articles

Cash back credit cards are great because of it gives holders the chance to earn rewards from everyday purchases. But with the number of cash back offers in the market, which one should you choose?

Comparing different cash rebate credit cards can be confusing as credit cards may appear to be all the same at first glance. Still, if you take a closer look, you’ll see the differences and the advantages that each card have over the other. In this article, let’s pay more attention to specific cash back credit cards available today. We’ve also included some tips on how you can compare different credit cards with cash back rewards correctly:

Comparing Popular Cash Back Credit Cards

Discover® was the first credit card issuer who introduced cash backs to consumers. Since then, other credit card issuers followed suit with their own cash back offers. In the past years, cash back cards only offer 1% rebate but today, you can find credit cards with as much as 5% rebates offer.

For instance, the Citibank Dividend Rewards MasterCard® and the Blue Cash® Card from American Express® are enjoying huge popularity, particularly because both has a 5% cash back bonus offer on everyday purchases such as gasoline, drug store items, and groceries plus a 1% rebate on all other purchases. Nevertheless, comparing cash back credit cards should not solely be based upon the percentage of cash back rewards.

To compare reward credit cards correctly, one must carefully consider the terms involved with the reward program. For instance, what specific purchases do you need to make in order to earn points? Which particular shops or establishments are affiliated with your cash back credit card? If your cash reward card promises to give 5% on gas purchases, does it apply to all gasoline stations or only from participating gas stations?

How you prefer to receive your rewards can affect your choice of reward credit card as well. Some cards will only allow you to redeem your rewards from selected shops while others will send your rewards through check. In some cases, the rebates you earned may be automatically credited to your account.

Is there a limit to the amount of rebates you can earn? Needless to say, the best cash back reward credit cards should allow you to earn unlimited rebates in your account. What about blackout dates? Is there a limit or an expiration date when it comes to collecting points and redeeming rewards? Don’t forget to check the restrictions of the reward credit card you’re considering.

Of course, you’ll want to check on the interest rate as well as the other costs and fees associated with the card. A reward credit card with no annual fee is a great advantage. If the cash back credit card comes with a 0% APR offer, don’t forget to ask how much the regular APR would be when introductory period expires. To be sure, read the fine print or the agreement in full before signing up for the cash back reward card you’ve chosen.