Earn up to 5% cashback everyday or up to 20% online on Discover's wide selection of cash back cards.
Earn up to 3% cashback on everyday purchases such as gas, home improvement and department stores.
Receive cash back to put towards a college education.Credit card issuers have not always been throwing cash at cardholders. The most popular type of rewards credit card has only been around a relatively short period of time.
It was in the mid 1980s that Discover Card burst onto the scene offering the first cash back credit card and it even had no annual fee. This was a big change when other card issuers were only giving rewards at certain companies with which they had strategic partnerships – primarily airlines and department stores.
Discover Card was able to offer cash back because this was offset by the fees they charged merchants as well as the interest fees charged to cardholders.
Unfortunately the high merchant processing fees that Discover was charging, initially led to few merchants accepting Discover credit cards. Over time more and more consumers began taking advantage of Discover’s cash back credit card offers. Eventually many merchants gave in and started accepting Discover Card. While they didn’t want to pay the high fees, it was either that or lose out on business.
As the Discover cashback cards gained popularity, other card issuers were forced to even the playing field. New cash back card offers were popping up from every major card issuer.
The shift had begun – the credit card industry was becoming a consumer’s market. Card issuers had no choice but to join the bidding war to gain new cardholders.
Different credit card companies have different methods of issuing cashback. It can also vary from card to card. Here are the most common ways to receive your cashback.
Depending on the credit card terms, you can receive a check in the mail either monthly or annually.
Some issuers will simply deposit the cashback earned directly onto your credit card. Again this may be done once a month or once a year.
Certain cards will allow you to trade in your points for rebates to specific stores. Some rebate gift certificates would get mailed to you, while others may be online rebates at a website.
Another common reward that you can earn is airline miles. This allows you to exchange your points for discounts on traveling. It can earn you free flights and other travel perks.
Many people only look at the cash back rates when they compare cash back credit cards. Then they apply for whichever cashback card advertises the highest cashback rate. These aren’t the only numbers you should be watching though.
Unfortunately some credit card companies offset part of the cashback earned with an annual fee. This tactic is most common with airline credit cards, but it is something you should watch for regardless. An annual fee can really limit how much actual cashback you receive.
A cash back credit card with an annual fee isn’t necessarily a bad thing, but it is something you have to take into consideration. Depending on how much you charge to your credit card, you might be able to overcome the annual fee and earn more money back in the long run.
When you compare cash back credit cards, estimate how much cash back you will earn with each potential card. Then subtract the annual fee from the earnings for any applicable cards.
At the time of writing this post, almost all cash back credit cards on CashBackRewardCreditCards.net have no annual fee. Still, it is something you should watch for as credit card companies may eventually start charging annual fees on more cashback credit cards.
Nearly every purchase you make has the potential to earn you cashback. Pretty much everywhere you can normally use your credit card, you can qualify to earn cashback.
The obvious places are where you use your credit card already…grocery stores, gas stations, restaurants and retail stores. All of these places normally qualify for cash back on your purchases.
The not so obvious ones include utility bills, insurance, vehicle maintenance, vacations and sometimes even things like rent. You just have to be able to put it on your credit card.
When you really make an effort to put more purchases on your credit card, you would be surprised at how much it all adds up to. In the end, it can build up to a decent amount of cashback.
While redirecting your purchases to your cash back credit card, just be sure that you are not overdoing it.
If you are charging more than you can pay off, the interest charges eat up your cashback.
We have recently added many new credit cards, including a wide range of prepaid debit cards.
Prepaid cards typically won’t earn you cashback, but they will help you build credit to qualify for cashback credit cards in the future. When you don’t have credit you have to start somewhere.
We’ve also added more student credit cards, including a Bank of America student credit card. This card helps you earn cashback towards a college education which is often the best investment you can make.
Plus there are several other credit cards throughout the website. More changes are on the way.
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For most people one of their major monthly expenses is gas for their vehicle. As much as we would like to cut down on driving expenses, the reality is that gas is expensive and not everyone can afford to buy a hybrid or electric vehicle. Some of us are stuck paying large amounts of money each month for the convenience of having a vehicle.
That’s why applying for a cash back gas credit card is a must. If you are paying with a basic credit card or cash, you are not taking advantage of easy savings. To put it bluntly, you are wasting money. Gas rebate credit cards usually give anywhere from 1 – 5% cashback on your gas purchases. Most gas credit cards also give you cashback on your all your other everyday purchases, although usually at a lower rate.
There are two main types of gas cash back credit cards that you can apply for:
With these gas reward cards you can earn cashback on any purchases that are classified as gasoline. This gives you the option to earn cash back on gas purchased nearly anywhere.
These gas rebate cards often give a decent cashback percentage, but only on purchases from that company’s gas stations. If you usually only go to one specific company’s gas stations these cards are a great secondary credit card.
One thing you do need to watch for is gas station issued cards that force you to spend a certain amount per month to qualify for cash back. It’s not always convenient to buy your gas from only one gas station.
Compare the best gas cash back credit cards and apply today.
Until recently students only qualified for the most basic credit cards. Even those were accompanied by a high interest rate. Due to tough competition among the credit card companies, students were gradually offered better credit cards. These days students can even get the most rewarding card – a student cash back credit card.
While a young person is away at college or university, budgets are often rather limited and saving extra money can help a lot. Although most student cash back credit cards only offer 1% cashback, that can still add up to a lot through the school year. With the high cost of post secondary schooling, every bit helps.
Some people may think students are too irresponsible to have their own credit card. This may be the case for some students, but it is most often due to a lack of education and guidance. So if you are the parent of a college student, make a point of teaching them about proper credit card management. They just have to understand that a credit card should only be used when you can afford to pay it off or in the case of an emergency. Then encourage them to apply for a student cash back credit card to help with the financial burden of school.
Depending on how much you use your credit card, it can make a lot of financial sense to use more than one cash back credit card.
Some cashback cards give a higher cashback percentage at certain stores or within specific spending categories. So you should be using such a card anytime you shop at those places. This often results in up to a 5% savings.
When you only use one cashback credit card you are tied to the limitations of that card. Such limitations sometimes include maximum annual cashback earnings or maximum earnings at the highest cashback percentage.
Having a second cash back credit card, allows you to switch cards when you reach account limitations or when you will receive more cashback with one card over the other. This way you are earning the most cashback possible.
Do keep in mind that some credit cards have minimum spending limits to qualify for rewards. So make sure you meet all requirements before tucking away one of your cashback cards in the back of your wallet.
