I am searching for a cash rewards credit card. It... - Cash Back Rewards Questions


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Credit Card Applications » Questions » User Questions » Cash Back Rewards » I am searching for a cash rewards credit card. It seems there are credit cards that offer as...

I am searching for a cash rewards credit card. It seems there are credit cards that offer as much as 10% cash back. Should I follow the rule of thumb that the more cash back advertised the better the deal, or is there something I should know about these offers?

Answered on | Updated on June 26th, 2012
The content is accurate at the time of publication and is subject to change.

First of all, no cash rewards credit cards actually offer 10 percent cash back – let’s get that straight. The standard for a cash back credit card is one percent on all purchases, with two, three, even five or six percent cash back in certain categories.

Many cards offer five percent cash back in rotating categories, but the amount of cash back you can earn is almost always capped – often at $75, which translates to $1500 worth of purchases.

One way to earn higher cash back amounts is by shopping through online credit card rewards malls – ShopDiscover, for example, does offer 10 or 15 percent cash back at certain retailers when you purchase their products with your Discover Card through their online mall.

One of the best cash rewards credit cards out there is the American Express Blue Cash card – the Preferred version (with a $75 annual fee) gives six percent cash back on groceries, three percent back on gas and one percent on all other purchases all year long, and the Everyday version (no annual fee) gives three percent back on groceries, two percent on gas, and one percent on everything else.  However, this card is only for people with excellent credit.

Our rule of thumb is, one percent cash back on all purchases and five percent back in rotating categories is nothing to turn your nose up at. It’s a pretty sweet deal, actually. If you want more cash back, look to those online credit card malls – that’s where the serious savings are happening.

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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Earn unlimited 1.5% cash rewards on all purchases.
Good, Excellent Credit
See Rates & Fees
Qualified applicants will enjoy benefits including 1% cash back rewards on all purchases, no annual fee, and a competitive APR. Terms apply
Fair Credit
3% cash back at restaurants and 2% cash back on gas and at grocery and drug stores, up to $1,500 spend per quarter in these combined purchase categories
Good, Excellent Credit

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