How to Get Good Cash-Back Rewards Credit Cards
Cash-back credits reward you for spending but should you carry a balance on one, the amount you are charged as interest cancels out the rewards. In case you have a revolving balance, you can save money with a low-interest credit. Also, your credit score is worth knowing to help you apply for credit cards in your league. Applying the below tips can help you get the best cash-back rewards credit cards.
Be attentive to rates of reward. For a flat-rate card, 2% cash-back reward rate can be considered suitable. For a bonus or tiered category, 5% or more rewards rate is okay. You, however, need to think how about the top rate of each card on your mind and how it applies to your spending. Ask yourself if you spend enough in the specified categories to help you earn significant rewards and if you would max out those categories. If so, the card is a good match for your habits.
Pay attention to annual fees. A big number of cash-back credit cards do not charge annual fees. However, if you have an interest in the one that attracts an annual fee, ensure you consider the possibility of offsetting the fee with perks as well as rewards. In addition, look into whether you are eligible for no-fee cards with rewards rates remaining the same. Find more information about Cash Back Rewards Credit Cards here.
Look into redemption flexibility. Some cards do not allow you to withdraw any amount you accumulate for cash-back. They are specific about the amount cash-back you should earn before you can redeem it. However, others have no such limitations and will allow you to redeem any amount any time you want. Check how important it is for you to get your rewards money faster and on your terms. Here is more info on Best Cash Back Credit Cards.
Ensure you factor cash-back redemption options. Each credit card has different cash-back redemption policies. Depending on the card you choose, you can redeem your cash-back as a gift card, a deposit, a check, or a statement credit. Consider the method card avail and choose the one that is easier for you.
Ensure sign-up bonuses are paid attention to. Cash-back credit cards need that you spend a certain amount in order to unlock your bonuses. While some cards need you to make one purchase to unlock the bonus, others specify the period within which you can earn bonuses after spending a specified amount. To avoid being stuck with sign-up bonuses you cannot enjoy, start with cards that need minimum spending. Learn more here : https://www.huffingtonpost.com/curtis-arnold/best-cash-back-cards-of-2_b_9161542.html.