Money Analysed

Maximizing Cashback Rewards: Best Credit Cards to Save Money

Cash back rewards are a great way to earn money back for the purchases you make. Whether you’re buying groceries or booking a flight, using a credit card that gives you cash back can help you save money and earn rewards.

In this article, we will be exploring the ins and outs of cash back rewards, along with the benefits of the Blue Cash Preferred Card from American Express.

How Cashback Rewards Work

Cashback rewards are a simple concept. When you use a credit card that offers cash back rewards, you earn a percentage of the purchase price back as a credit toward your account.

For example, if you make a $100 purchase and your cashback reward is 5%, you will earn $5 back credited towards your account.

Generally, cashback rewards range from 1% to 5%.

Some credit cards may offer higher cashback rewards on certain categories. For example, a credit card may offer 5% cash back on purchases made at U.S. supermarkets or U.S. gas stations for a certain period of time.

Choosing Cashback Rewards over Points or Miles

Credit cards often offer rewards in the form of points or miles as well. While these rewards can be great for travel, they can be more difficult to redeem.

Cashback rewards, on the other hand, are easy to redeem. You can use them to pay your credit card bill or receive a statement credit.

Additionally, if you’re not an avid traveler, cashback rewards may be more appealing. While points and miles may be beneficial for frequent travelers, cashback rewards help you save money on everyday purchases.

Credit Cards with at Least 5% Cash Back

If you’re interested in earning 5% cashback on certain purchases, below are five credit cards that offer at least 5% cashback:

1. Blue Cash Preferred Card from American Express: This card offers 6% cashback on U.S. supermarkets on up to $6,000 per year in purchases, 6% cashback on select U.S. streaming subscriptions, 3% cashback at U.S. gas stations, and on transit purchases, and 1% cash back on everything else.

There is an annual fee of $95. 2.

Chase Freedom Flex: This card offers 5% cashback on up to $1,500 in purchases made in rotating categories each quarter, 5% cashback on travel purchased through Chase Ultimate Rewards, 3% cashback at restaurants and drugstores, and 1% cash back on everything else. 3.

U.S. Bank Cash+ Visa Card: This card allows you to choose two categories for 5% cashback on up to $2,000 in purchases per quarter, and 2% cashback on one everyday category of your choice. All other purchases earn 1% cash back.

4.

Citi Custom Cash Card: This card offers 5% cashback on purchases made in your top eligible spend category each billing cycle, up to your first $500 in purchases, then 1% cashback thereafter.

You also earn 1% cashback on all other purchases. 5.

Ink Business Cash Card: This card offers 5% cashback on the first $25,000 spent in combined purchases at office supply stores and on internet, cable, and phone services each account anniversary year. You also earn 2% cashback on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year.

Using Multiple Cashback Cards to Maximize Rewards

Using multiple cashback cards can help you maximize your rewards. By strategically using specific cards for different categories, you can earn more cashback overall.

For example, you could use the Blue Cash Preferred Card from American Express for groceries and streaming services, and use a different card for gas and travel purchases.

Annual Fee Debate

When considering whether to get a credit card with an annual fee, it’s important to do the math. In some cases, the rewards earned from the card may outweigh the annual fee.

For example, if you earn $400 in cashback rewards with a card that has a $95 annual fee, you are still coming out ahead. However, if you aren’t using the card enough to earn more than the annual fee, it may not be worth it.

Conclusion

In conclusion, cashback rewards can help you save money and earn rewards on your everyday purchases. If you’re interested in earning 5% cashback, there are several credit cards to choose from.

Using multiple cards strategically can also help you maximize your rewards. Before choosing a credit card with an annual fee, make sure to do the math and determine whether the rewards outweigh the cost.

If you’re looking for a credit card that offers great rewards and benefits, the Chase Freedom Flex card and U.S. Bank Cash+ Visa Signature card are both excellent choices. In this article, we’ll delve into the features of each card, including the rotating categories and sign-up bonuses offered by the Chase Freedom Flex card, and the custom spending categories and additional earnings of the U.S. Bank Cash+ Visa Signature card.

Chase Freedom Flex Card

The Chase Freedom Flex card offers a range of benefits, including cashback rewards and a generous sign-up bonus. Below are the details of these features:

How the Rotating Categories Work

One of the major benefits of the Chase Freedom Flex card is its rotating categories. Every quarter (three months), the card offers 5% cashback on certain categories of purchases.

These categories change each quarter and may include things like gas, groceries, restaurants, and more.

It’s important to note that in order to qualify for the 5% cashback, you must activate the bonus categories each quarter.

You can do this by logging into your account and clicking on the “activate” button. Once you’ve activated the categories, you can enjoy the 5% cashback on up to $1,500 in combined purchases for the quarter.

Generous Sign-up Bonus

The Chase Freedom Flex card also offers a great sign-up bonus. New cardholders can earn a $200 bonus after spending $500 in the first three months.

This bonus alone is enough to cover the cost of the annual fee ($0) for several years.

Intro 0% APR

In addition to the cashback rewards and sign-up bonus, the Chase Freedom Flex card also offers an introductory 0% APR for 15 months on purchases and balance transfers.

This can be a great way to save money on interest fees when making large purchases or transferring balances from other credit cards. U.S. Bank Cash+ Visa Signature Card

The U.S. Bank Cash+ Visa Signature card is another great option for those looking to earn cashback rewards.

Here are the key features of the card:

Customizing Your Spending Categories

One unique feature of the U.S. Bank Cash+ Visa Signature card is that you can customize your spending categories. The card offers 5% cashback on two spending categories of your choice, on up to $2,000 in combined purchases per quarter.

You can choose from categories such as gas stations, restaurants, home utilities, and more.

In addition to selecting your own categories, the card also offers 2% cashback on an everyday category, such as grocery stores or drugstores, and 1% cashback on all other purchases.

Additional Earnings

Aside from the cashback rewards, the U.S. Bank Cash+ Visa Signature card offers another way to earn points. If you have a U.S. Bank savings, checking, or money market account, you can earn an additional 0.5% cashback on all your purchases with the card, for a total of up to 2.5%.

Intro 0% APR on Balance Transfers

Finally, the U.S. Bank Cash+ Visa Signature card also offers an introductory 0% APR on balance transfers for the first 12 billing cycles, making it easier to pay off debt and save on interest fees. Overall, both the Chase Freedom Flex card and U.S. Bank Cash+ Visa Signature card offer great rewards and benefits.

Whether you’re looking for rotating categories or customizable cashback, these cards are worth considering. Don’t forget to compare all the features and terms of each card before making your decision to ensure you choose the best one for your needs.

Credit cards offer a great way to save money and earn rewards on everyday purchases, and the

Citi Custom Cash Card and

Ink Business Cash Card are no exception. In this article, we’ll take a closer look at the features of these cards, including the automatic earnings and welcome bonus of the

Citi Custom Cash Card and the earning potential for business owners and intro 0% APR on purchases of the

Ink Business Cash Card.

Citi Custom Cash Card

The

Citi Custom Cash Card is a great choice for those looking to earn cashback rewards on their purchases. Here are the key features of the card:

Automatic Earnings in Top Spending Category

With the

Citi Custom Cash Card, you’ll earn 5% cashback on purchases made in your top eligible spending category each billing cycle, up to your first $500 in purchases. After that, you’ll earn 1% cashback on all eligible purchases.

One of the perks of this card is that your top eligible spending category is automatically chosen based on your spending habits. This means you don’t have to manually select a category each month, making it even easier to earn rewards.

Welcome Bonus Offer

New cardholders can also enjoy a great welcome bonus with the

Citi Custom Cash Card. You can earn $200 cashback after spending $750 on purchases in the first three months of account opening.

Intro 0% APR on Purchases and Balance Transfers

Finally, the

Citi Custom Cash Card offers an introductory 0% APR on purchases and balance transfers for the first 15 months. This can be a great way to save money on interest fees when making large purchases or transferring balances from other credit cards.

Ink Business Cash Card

The

Ink Business Cash Card is a great choice for small business owners looking to earn cashback rewards. Here are the key features of the card:

Cashback for Business Owners

The

Ink Business Cash Card offers a range of benefits for business owners, including cashback rewards on business expenses. You’ll earn 5% cashback on the first $25,000 spent in combined purchases at office supply stores and on internet, cable, and phone services each account anniversary year.

Earning Potential

In addition to the 5% cashback on select purchases, the

Ink Business Cash Card also offers 2% cashback on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. All other purchases earn 1% cashback.

Intro 0% APR on Purchases

Finally, the

Ink Business Cash Card offers an introductory 0% APR on purchases for the first 12 months. This can be a great way to save money on interest fees when making large purchases for your business.

Overall, both the

Citi Custom Cash Card and

Ink Business Cash Card offer great rewards and benefits. Whether you’re looking to earn cashback on select purchases or want to earn rewards for your small business expenses, these cards are worth considering.

Just make sure to compare all the features and terms of each card before making your decision to ensure you choose the best one for your needs. Credit cards have become an important tool for savings and earning rewards on everyday purchases.

In this article, we explored the features of several credit cards that offer cashback rewards and other benefits. From the rotating categories of the Chase Freedom Flex card to the customizable spending categories of the U.S. Bank Cash+ Visa Signature card, each card has its own unique offerings.

The

Citi Custom Cash Card and

Ink Business Cash Card are also great options for those looking to earn cashback rewards on their purchases. Whether you’re looking to save money on interest fees or earn cashback on select purchases, credit cards can help you achieve your goals.

When choosing a credit card, it’s important to compare all the features and terms to ensure you choose the best one for your needs.

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