Would you like to make money every time you use your credit card? Well, now you can. There are so many companies today that they are competing like crazy to get your business so it’s easy to find the best rated credit cards. One of the ways these companies are luring new customers is by offering cash back. This can be great for you, but there are some things for you to consider. Here are 7 tips for finding the best cards being offered today.
1. Reasonable Interest Rates
Always read the fine print about the interest rates. Many cards will offer a 0% interest rate. Check what the interest rate is after that grace period. If you get a card with a high interest rate and don’t pay your balance off every month, that interest rate will “eat up” your reward money fast.
2. Look for No Annual Fee
There are so many easy to get cards being offered today, there is no reason to get one that has an annual fee. With just a little searching you can easily find one with no annual fee.
3. Travel and Gas perks
Look for cards that have other perks in addition to the cash back offer. You might as well get as many bonuses as you can.
4. No Reward Limit
Make sure that there is no limit to how much cash back you can earn. Some cards do set limits. You should search for a card with unlimited cash back.
5. Check the Wording
Read between the lines. Does the offer say, “Get 5% back on all purchases” or does it say, “Get ‘UP TO’ 5% back on purchases at ‘THESE VENDORS'”? There’s a big difference.
6. Consider Your Needs and Habits
If you don’t use your card a lot or if you don’t pay off your balance each month, a cash back credit card may not be your best bet. You may earn more “freebies” by getting a rewards card where you earn free airline miles (if you travel a lot) or even free gas.
7. Compare Several Credit Cards
Don’t go with the first cash back card you find and don’t waste your time searching out each individual credit card company on the web. Go to sites where they compare credit cards at one time. These sites make your job easy and make the best use of your time. See what all the major credit cards have to offer you at one time and get the best deal.
