Cash Back

With all of the money you spend on credit cards, wouldn't it be nice to get something back? With a cash-back card, you can get a little money back for every dollar you spend. It's like getting free money just for shopping.

There are many credit card reward programs to choose from. Some offer free air miles or money towards the purchase of a new car. The most flexible reward schemes give you cash back, which you can then spend however you want. Some cards have a minimum amount you have to spend each month before you qualify for cash-back. Others only give you cash-back on certain types of purchases. The best cards give you cash-back on every dollar you spend, anywhere and anytime.

The Discover More card is one of the most popular cash-back cards on the market. It gives you a huge 5% cash-back on certain types of purchases, such as groceries, gas, and travel, and 1% cash-back on everything else. If you make a purchase through their exclusive website, you can get a cash-back bonus of up to 20%. Best of all, Discover won't charge you interest on your purchases for the first six months.

The Chase Freedom credit card gives you $50 cash-back after your first purchase. After that, you can get between 3% - 20% cash-back with selected merchants and 1% cash-back everywhere else. You will need to have an excellent credit history to qualify for this card. As an extra reward, Chase will give you an interest-free introductory period of up to a year.

Cash-back cards are a great way to earn a little money for doing something you would be doing anyway. 1% may not seem like a lot, but it can really add up. Make sure you maximize your earnings by putting every purchase on the credit card, even when paying cash is more convenient. Depending on where you like to shop, it may make sense to get more than one cash-back card, since credit card companies have deals with different merchants. You can use one card to pay for groceries and another to pay for gas.

Cash-back cards may not be a great deal for people who regularly carry a balance on their credit cards. The high interest rates will eat up all of the cash-back rewards, and then some. So make sure you pay your credit card bill in full every month.