What Defines The Best Cash Back Credit Card
Who doesn’t want to allure of free money at this time and age? The most unfortunate thing is that over 31 percent of people out there are entitled to some free money from credit card cash back, but they do not claim it after all. It could be a matter of misinformation or simply ignoring the mere fact that they are entitled to free money. If you are like most people who have looked at cash back credit card option, you are likely as confused on the right one to choose. The first step therefore is to do a thorough comparison. Nothing compares to the benefits you reap from a thorough credit card comparison process. Needless to mention, you have to take the initiative to make your rewards claim, failure to which you may not actually get it. Your first step therefore would be to look at the rewards rate. This is because you must spend a certain amount in the different credit cards for you to be entitled to some substantial amount of rewards.
The second important consideration of the best cashback credit card would certainly be the applicable annual fees. Does the card under your consideration have some annual fee or is it free of charge? While most of the top rated cards will rarely charge an annual fee, in the event you land on one that does, it is imperative that you establish beforehand whether or not the cash back rewards or perks can be used to offset the annual fee. You might want to look elsewhere in case your credit card cannot be used to cover credit card annual fees.
This credit card comparison guide will not be exhaustive if we do not explore the flexibility that comes with your cashback credit cards when it comes to redemption and all the possible redemption options at your disposal. Some cashback credit cards will for example put a limit on the amount of money that can earn you a reward, say $20 or $50. You will also find some credit cards have no limitations when it comes to spending and rewards claiming. It is at this juncture that you look at the right card based on how you want to get your reward, either in form of statement credit, check, or a gift card. Well, this may not be too much of an issue for many people, so you do not want to base your decision solely on the sign up process; especially because a sign-up bonus is a one-off deal. If you get a credit card that satisfies the above criteria, it certainly is the best choice for you.