If you want to avoid high debt and high interest payments, you might put credit cards with high rates on the back burner. While this approach may ensure a low balance, it may not help your credit score. A low credit score can result from inactivity. If you don’t use your credit cards, your creditors may stop updating your credit report. Therefore, it’s good to pull out your credit cards every now and again.
Need an incentive to use your credit cards? Apply for a cash back rewards credit card and earn money for every dollar you spend. Here’s a list of the top five credit cards with cash back.
Perfect if you have excellent credit, the Capital One Cash Rewards credit card offers 1% cash back on all purchases, plus a 50% cash back bonus every year. Enjoy a one-time cash back bonus of $100 when you spend $500 in the first 90 days. You can earn unlimited cash back and your reward doesn’t expire. Apply today and pay 0% APR on purchases and balance transfers for 12 months. There is no annual fee and no foreign transaction fee.
This card features no annual fee and rewards never expire. Earn a $100 cash back bonus when you spend $500 in the first three months, plus a 5% cash back bonus on rotating categories. Categories include hotels, airlines, gas stations and restaurants. Earn an unlimited 1% cash back bonus on all other purchases. Enjoy 0% APR on purchases and balance transfers for 15 months. Shop online through Chase.com and you’re eligible for cash back bonuses up to 10%.
Blue Cash Preferred Card from American Express
Earn a $150 cash back bonus when you spend $1,000 in the first three months of opening an account. As a cardmember, you’ll receive 6% cash back at grocery stores, 3% cash back on gasoline and 1% cash back on other purchases. There are no rotating categories and you can start earning cash immediately. Refer a friend and earn 75 reward dollars for each person approved for the credit card. Redeem your reward dollars for cash or statement credit. Enjoy 0% APR on purchases for the first 12 months. The annual fee is $75.
Citi ThankYou Preferred Rewards Card
Cardmembers receive 10,000 bonus ThankYou points after spending $500 in the first three months of opening the account. You’ll enjoy 0% APR on balance transfers and purchases for 12 months. Plus, you’ll earn one ThankYou point for every dollar you spend on purchases. With no expiration dates and no limit on the number of points you can earn, redeem your points for merchandise, travel, gift cards and cash. Shop with a preferred retailer and earn additional points. There is no annual fee.
Enjoy 0% APR on purchases for the first six months and 0% APR on balance transfers for the first 18 months. It’s free to sign up for the rewards program. Earn 5% cash back in categories that rotate throughout the year. These include gas stations, restaurants and department stores. There is no annual fee and no fee to redeem your reward.
){kind=link}