Most people understand that credit cards carry many benefits. From convenience to savings with affiliate partners, there are many ways credit cards offer value, but these five in particular could work for you, providing more benefits the more you use them.
An alarming study, recently, shows that traditional credit and debit card use could result in cardholders sacrificing an additional 6 percent of your expenses every single month. With that in mind you might want to reconsider what you carry in your wallet, opting for credit cards with decent cash back options that could warrant you more money back in your own pocket. Thus, here are five credit cards that can actually work for you, literally:
First on the list is the Blue Cash Preferred from American Express. It is first, simply, because it is the most versatile card for families on the go. If you have a good enough credit score you can qualify for this card, which will give you access to one of the most consistently regarded generous cash back programs currently available.
Blue Cash Preferred card members can take advantage of a 6 percent rebate on groceries, 3 percent at gas stations and department stores, and 1 percent cash back on everything else. The $75 annual fee is nothing to concern yourself with, but the $150 rebate (after satisfying certain conditions) is definitely worth noting. It is also good to note that this card has a flexible twin that is available to folks with slightly lower credit scores. The Blue Cash Everyday card from American Express, then, comes with no annual fee and a comparable bonus rebate structure.
The second card you might want to look for is the Capital One Cash Rewards Card. Unlike other cards that require you purposefully choose specific rebate structures (and often having to satisfy even stricter spending requirements), this card simply offers 1 percent cash back on every single purchase. If you make your payments on time, though, Capital One will tack on an additional cash back bonus that could earn you 1.5 percent on all purchases, all year long. Lacking an annual fee, this card is definitely one of the most attractive on the market right now.
Third, the Chase Freedom Visa credit card is, perhaps, the best card currently available for cash back options with flexible rewards. This card features the same rotating category structure made popular by Discover Card but eliminated the spending requirements. This gives you 1 a percent rebate on every purchase with up to 5 percent cash back on the featured category. In addition to this, Chase also has an Ultimate Rewards program that lets you exchange your points for merchandise, gift cards, and other rewards instead of getting a standard rebate.
The fourth card you should consider is the U.S. Bank Cash+ Visa Signature card. A newcomer to the industry, this card brings innovation to the game by sending the cardholder a text message every three months in order to remind them to choose two spending categories within which they can earn up to 5 percent cash back.
Finally, the Citi Dividend Platinum Select Visa card is the best card for the back-to-school shopping season. With a reward structure similar to both Chase and Discover Card, this particular product offers an additional 5 percent rebate on card purchases made at the Gap, Old Navy, Banana Republic, and their associated outlet stores. Also, airline tickets and rental car reservations can also earn you a 5 percent bonus. Citi also offers a 5 percent rebate on rotating categories, just like Discover and Chase do now.