Cash rewards seem to be the best credit cards on the block

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Credit Card Applications » Research » Guides » Travel with Credit Cards » Cash rewards seem to be the best credit cards on the block

Cash rewards seem to be the best credit cards on the block


Updated: December 26, 2012

This content is not provided by Citi. Any opinions, analyses, reviews or recommendations expressed here are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by the Citi.

Cash rewards are easily ahead of all other credit card rewards that make up the list of innumerable credit card reward offers during the holiday season. It isn`t without reason either as cash rewards prove more useful than any other types of credit rewards in the long run, more so, because they mean extra cash in the pocket.

Opening bonus

A lot of credit card offers are giving opening bonus as a credit cash reward to the customers who are usually in a buying frenzy during this time of the year. Although some of these cash back offers prove valid only if the customer reaches a milestone limit to avail the bonus cash back there is still a good chance of many customers taking it. The milestones aren`t hard to achieve, given that Christmas is around and people are buying gifts, preparing for parties or dinners or even planning a vacation. Whatever is the scenario, a lot of families end up spending hundreds of dollars during this time, making it quite possible to get the opening bonus cash rewards. For example, Bank of America is offering a 50 dollar credit if you spend 50 dollars on items in the first 60 days. Sapphire card customers get 25,000 opening bonus points, which equate to 250 dollars in cash rewards if they spend or do balance transfers worth 3000 dollars in the first 90 days of opening the account. Citi too is offering a 50 dollar gift card for 300 dollars spent, if it is within the first 3 months.

Cash back at departmental stores and drug stores

A lot of credit cards offer cash back at places like departmental stores, drug stores and gas stations. These rewards are more useful than discounts at shopping malls purely because very few people leave without spending money at any of these places. Even simple 1% cash back will mean that you save quite a few dollars through your expenses at these places every month and more in a year. Some credit cards even offer up to 5% cash back on select gas station expenses or drug store expenses.

Cash back on all purchases

If you spend 1000 dollars a month and get cash back of 1% on all purchases it still means by the end of the year you will save 120 dollars, which is a good amount to be saving.

Disclaimer: This editorial content is not provided or commissioned by the credit card issuer(s). Opinions expressed here are the author's alone, not those of the credit card issuer(s), and have not been reviewed, approved or otherwise endorsed by the credit card issuer(s). Reasonable efforts are made to present accurate information, however all information is presented without warranty. Consult a card's issuing bank for the terms & conditions.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
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