Are cash incentives the best credit card rewards?

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Credit Card Applications » Research » Guides » Travel with Credit Cards » Are cash incentives the best credit card rewards?

Are cash incentives the best credit card rewards?


Updated: December 26, 2012

The content is accurate at the time of publication and is subject to change.
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.
There are many options that one can choose from when deciding which credit card offers the best rewards. Cash rewards is just one such option. They are attractive as customer gets direct cash deposits on specific purchases. Cash rewards are more attractive; customers may use this reward in any means they choose. This reward is unlike any other, which forces you to use them even if not needed. Many credit card companies offer an opening bonus to customers who acquire a new account. Usually, these bonuses will be given out only if the customer reaches a certain milestone in terms of purchases. This milestone has to be reached within a certain period of time. If you get a card during the vacations, it will be very easy to reach the milestone given the large amount of buying that you will be doing. People would be buying gifts, spending on parties and family dinners and also planning vacations during this season. In any cases, most family would increase its spending during the months of Christmas. Bank of America offers a fifty dollar credit if you spend a minimum of fifty dollars on items during the first sixty days of opening the account. Citibank is also offering a fifty dollar reward, however, this will only be for $300 during the first 90 days. Another reward is get cash back from grocery stores, gas stations etc., and these rewards are very useful. Gas station cash back offers, are the best, given the fact that every second person will need to fill up every day. These cash back rewards are usually around one percent but at some places, you could even get five percent on the expenditure. Most importantly, cash back is a nice way of saving money without losing any. If you get merchandise, the value might be more but you may not need it in the first place. Travel rewards are the worst of the lot given that you might not even have the time to use them. This is the reason why they are always offered by the credit card companies. Even with merchandise, it is the same problem. With cash rewards, you are left with nothing but more money in your pockets!

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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