The Best Cashback Credit Cards

By: EconomyWatch Content Team   Date: 21 January 2010

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You made the decision to get rid of your high interest rate credit cards, as well as those with excessive fees and no rewards.  Instead, you want to start searching for the best cashback credit card, one that would actually pay you for making purchases with the card.  Of course, details of rewards programs such as this vary, which is why it is important to spend time looking at options for the best cashback credit card before making a final decision.

You will find that some of these cards are set up with a cashback bonus only when you shop at certain types of merchants such as restaurants and gas stations while some have no limitations.  In addition, the amount of the cash back program varies, some offering 5% and others only 1%.  Typically, the best cashback credit card features a rewards program that involves paying cash for purchases made, as mentioned, or incentives.

Regardless, most cards such as this are offered to people with good credit.  Therefore, about 12 months before applying, it would be worthwhile to get a copy of your credit report from all three agencies so errors could be corrected.  The following is a list of options for the best cashback credit card current being offered so you have some idea as to what is available.

·    BankAmericard Cash Rewards – This Visa credit card has a 3% cash back bonus for purchases made at drug stores, grocery stores, and gas stations for the first six months, which then decreases to 1%.  The cash rewards can be redeemed via check, credit to the account, direct deposit, or if you have your mortgage with BankAmericard, it could go toward the principle.  Additionally, this card offers a 25% bonus for reward redemptions of $300 or more and there is no limit to the number of points earned annually.

 
·    Chase Freedom – Another one on our list of the best cashback credit card is offered by Chase.  This card offers 3% cash back for popular merchants, which rotate, as well as full 1% cash back on other purchases without spending tiers or caps.  This card also comes with a 20% cash back bonus when making online purchases at specific merchants, as well as no annual fee and a 0% APR introductory period.

·    Biodegradable Discover More Card – This is another of the best cashback credit card options, which features a 5% bonus in certain categories to include restaurants, department stores, home improvement stores, gas stations, and more.  Additionally, the card has up to a 1% unlimited cash back bonus on other purchases and a cash back bonus of 5% to 20% when shopping through the exclusive online site.

·    Bank of America Accelerated – What makes this rank among the best cashback credit card offers is the no cap on dollar redemptions and no limits on the amount you can earn.  This card also provides flexible payback time, cash redemptions via check, statement credit, or direct deposit, and there is no annual fee.  Then for every $1 spent on retail, the card offers cash rewards of 1.25% and the card has a 0% introductory APR.

·    Blue Cash American Express – By using the Blue Cash card to make purchases, you would earn as much as 5% and there is no annual fee.  Another benefit includes a six-month 0% APR introductory period.

BankAmericard Cash Rewards, BankAmericard Cash Rewards and Bank of America Accelerated are products and trademarks of Bank of America https://www.bankofamerica.com/
Blue Cash American Express is a trademark of American Express https://home.americanexpress.com/home/mt_personal.shtml
Biodegradable Discover More Card is a trademark of Discover Card http://discovercard.com/
Chase Freedom is a trademark of Chase Card https://www.chase.com/credit-cards.htm

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