6 BEST Cash Back Credit Cards 2022
What Are the Best Credit Cards with Rewards?
If you’re looking for a great way to save money while shopping, then you should consider using a credit card with rewards. Credit cards with rewards allow you to earn points, miles, or cashback on your purchases, which you can redeem for travel, merchandise, cashback, or statement credits. The best credit cards with rewards can help you save hundreds of dollars throughout the year.
When you’re researching credit cards with rewards, you should consider the types of rewards offered, the annual fee, the interest rate, and the minimum spending requirements. You should also consider the additional benefits and features of the card. In this article, we will discuss the various types of rewards credit cards, the best credit cards with rewards, and how to choose the right card for you.
Types of Rewards Credit Cards
When it comes to rewards credit cards, there are four main types: cashback cards, travel cards, balance transfer cards, and store cards. Each type of card offers different rewards and features, so it’s important to consider which type of card is best for you.
Cashback cards are the most popular type of rewards credit card. These cards allow you to earn cashback on your purchases. The cashback rewards usually range from 1% to 5%, depending on the card. Most cashback cards also offer bonus categories where you can earn extra cashback.
Travel cards are designed for frequent travelers. These cards offer rewards in the form of points or miles that can be redeemed for travel expenses such as flights, hotels, and rental cars. Some travel cards also offer additional benefits such as free checked bags, priority boarding, and lounge access.
Balance transfer cards are designed for those who have existing credit card debt and are looking to pay it off. These cards offer a low introductory interest rate on balance transfers, allowing you to pay off your debt faster. Some balance transfer cards also offer rewards such as cashback or points.
Store cards are designed for shoppers who frequent a particular store or chain. These cards offer rewards in the form of discounts or points that can be redeemed at the store. However, store cards usually have higher interest rates than other types of credit cards.
Best Credit Cards with Rewards
Now that you’re familiar with the different types of rewards cards, let’s take a look at the best credit cards with rewards. Here are some of our top picks:
• Chase Sapphire Preferred: This is one of the best travel cards on the market. It offers 2x points on travel and dining, and 1x points on all other purchases. It also offers an initial bonus of 60,000 points after spending $4,000 in the first three months.
• Citi Double Cash Card: This is one of the best cashback cards on the market. It offers 2% cashback on all purchases: 1% when you make a purchase and 1% when you pay it off. There is no annual fee, and there is also an introductory 0% APR on balance transfers for 18 months.
• Discover it Cash Back: This is another great cashback card. It offers 5% cashback in rotating categories, up to $1,500 in purchases each quarter. It also offers an initial bonus of $150 after spending $500 in the first three months.
• American Express Blue Cash Preferred: This is one of the best store cards on the market. It offers 6% cashback on U.S. supermarket purchases, up to $6,000 in purchases each year. It also offers 3% cashback on U.S. gas station purchases and 1% cashback on all other purchases.
How to Choose the Right Credit Card with Rewards
When it comes to choosing the right credit card with rewards, you should consider your spending habits, the rewards offered, the annual fee, the interest rate, and any additional benefits or features. For example, if you’re a frequent traveler, then a travel rewards card may be a better choice than a cashback card. On the other hand, if you have existing credit card debt, then a balance transfer card may be the best choice.
Once you’ve narrowed down your options, you should compare the cards side-by-side to determine which one offers the best value. You should also consider the long-term benefits of the card, such as additional rewards or features. Finally, you should always read the terms and conditions of the card to make sure that you understand the fees and other requirements.
Key Points
• There are four main types of rewards credit cards: cashback cards, travel cards, balance transfer cards, and store cards.
• The best credit cards with rewards offer rewards, bonuses, low interest rates, and additional benefits and features.
• When choosing a rewards credit card, you should consider your spending habits, the rewards offered, the annual fee, the interest rate, and any additional benefits or features.
People Also Ask
Q: What is the best rewards credit card?
A: The best rewards credit card will depend on your spending habits and needs. Some of the best rewards credit cards include the Chase Sapphire Preferred, Citi Double Cash Card, Discover it Cash Back, and American Express Blue Cash Preferred.
Q: How do rewards credit cards work?
A: Rewards credit cards work by allowing you to earn points, miles, or cashback on your purchases. You can then redeem these rewards for travel, merchandise, cashback, or statement credits.
Q: Are rewards credit cards worth it?
A: Yes, rewards credit cards can be worth it if you use them responsibly and pay off your balance in full each month. Rewards credit cards can help you save money on your purchases, and if you use them strategically, you can earn even more rewards.
Best Credit Cards With Rewards – 4 Tips
As we roll into 2022, if you’re looking to change credit cards or just add a new one I want to make the decision easier by breaking down the best cash back credit cards you can get. I’ll divide them into two categories: flat rate cash back and tiered categories cash back and give you my top three options for each. Many of these cards have introductory bonuses, but I won’t include those bonuses when I rack and stack the cards.
Let’s start off with the flat rate cash back all of which have no annual fee:
1) Wells Fargo Active Cash Card
– 2% cash back on all purchases w/ no limits
– Get up to $600 in protection on your cell phone w/ a $25 deductible
2) Citi Double Cash Card
– 2% cash back w/ no limits. You earn 1% when you buy something and the other 1% when you pay off the card
3) Chase Freedom Unlimited (technically tiered, but the base cash back is 1.5%)
– 1.5% back w/ no limits
– 5% back on grocery store purchases up to $12,000 in the first year but doesn’t include Target or Walmart
– 3% back on dining / takeout / delivery
– 3% back on drugstore purchases (Walgreens / CVS / RiteAid)
– 5% back on travel through Chase Ultimate Rewards
Now rolling into the tiered cash back cards:
1) Blue Cash Preferred Card from AMEX
– 1% back on all purchases
– 6% back on US supermarkets up to $6,000/year (does not include superstores, convenience stores, warehouse clubs, and meal-kit delivery services are not considered supermarkets)
– 3% back on gas stations and transit (taxis / rideshare / parking / tolls / trains / buses)
– No annual fee the first year, but $95 thereafter
2) Capital One SavorOne Cash Rewards Credit Card
– 1% back on all purchases
– 3% unlimited back on dining / entertainment / popular streaming services / grocery stores (excluding Walmart and Target)
– 8% back on tickets at Vivid Seats through January 2023
No foreign transaction fee
– No annual fee
3) Citi Custom Cash Card
– 1% back on all purchases
– 5% back on purchases in your top eligible spending category each month up to $500 spent, 1% thereafter. The category is chosen automatically based on your purchases. Although this means you’re limited to a maximum bonus cash back of $25/month it can add up to $300/year
– No annual fee
#creditcards #cashback #credit
DISCLOSURE: We are not financial advisers. The ideas presented in this video are for entertainment purposes only. Although the information is researched and vetted beforehand, it may not be up to date at the time of viewing. Please do your due diligence and research on the topic. You (and only you) are responsible for the financial decisions that you make.
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