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Cash Back Reward Credit Card – Helpful Tips for Choosing One

A cash back reward credit card is designed to allow you to get cash back as a reward for using a certain credit card company’s card. However, as is usually the case with a deal that seems to be too good to be true these cards may not save you as much as you think, unless you know what to look for when deciding which of these cash back cards to choose. Here are some features you want your new cash back card to have.

No Spending Limit

Some cash back cards have high threshold limits, meaning you have to spend a certain high dollar amount with your credit card before you can even begin to start getting cash back points. Look for a cash back reward credit card that has a very low threshold limit or none at all. That way you can start earning those cash back points sooner.

No Annual Fees

You also want to find a cash back card that doesn’t charge an annual fee. Paying a fee simply for having the credit card is in effect like paying for that cash you get back in advance. No annual fee means more money in your pocket to spend the way you see fit.

No Caps

Some credit card companies will offer you a cash back reward credit card and then in the fine print you discover that you can only earn so much cash back no matter how much you spend. These caps or ceilings are made to help the credit card company from paying too much out in those cash back rewards, but, in the final analysis you are the one who suffers a loss of possible income.

No Expiration Date

Some cash back cards have periodic expiration dates, usually some anniversary date where an old reward year ends and new reward year begins. If you have cash back points coming to you that you have not cashed in by the expiration date all those points vanish into thin air and you are left without the money those points would have given you.

No matter how wisely you use that cash back reward credit card it will be of little benefit if you don’t actually get as much cash back as possible. Taking the time to know what each credit card is offering you in their cash back program will help you choose the card that will give you the most cash back on the things you buy.

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