Tips for Getting Good Cash-Back Credit Cards
You get rewards for spending on cash-back credit cards. It is important to get a cash-back credit card that aligns with your spending to help you get many rewards. This article explains the factors that make it possible for you to get the best cash-back credit card. See bad credit payday loans
You should pay attention to the flexibility of redemption. A number of cards do no permit their users to withdraw any amount accumulated for cash-back. The cards are therefore specific on the amount of cash-back you need to have for you to be in a position to redeem it. However, other cards do not give such limitations hence allowing you to redeem any amount. To get a good card, know how it is important for you to get your cash-back money faster.
Make sure you factor cash-back redemption options. Different credit cards have different policies regarding cash-back redemption. Depending on which card you opt to acquire, you have the option to redeem your cash-back for a statement credit, a check, or a gift card. You should check the redemption method a card avails so that you can choose the one that is suitable for you.
Be attentive to the sign-up bonuses. You are needed to use a specified amount for you to unlock your credit card bonuses. While you only make a single purchase in order to unlock the bonus of a number of cards, other cards need you to spend a specified amount within a specified period. In order to avoid getting sign-up bonuses you will not enjoy, you should consider needing you to spend minimum amounts. More about
Ensure you factor the annual fees. In most cases, you will not be needed to pay annual fees. However, in case the card you want to buy attracts an annual fee, you should look at how possible it is for you to offset the fee with rewards and perks. Also, consider whether you are qualified for no-fee cards while the reward rates do not change.
Pay attention to the rates of reward. If you have a flat-rate card, a cash-back reward of 2% is good. In case your card is tiered, you a reward rate of 5% or more is suitable. However, it is good to be keen on the top rate of every card as well as if it is in line with your spending. You need to ensure you can spend enough in the categories that are specified to enable you to get significant rewards.