Are Cash Back Credit Cards Worth It In 2021?

Get the most out of your credit card rewards in 2021

NEW YORK, NY, May 06, 2021 /24-7PressRelease/ -- Cash back credit cards offer perks and benefits that can help you make the most of your spending. From grocery store to transit purchases, many cards have bonus earning categories for your everyday purchases that can turn into big rewards over time. Let's take a closer look at what cash back credit cards are, whether they're worth it in 2021, and how to choose the best card for you.

What is a cash back credit card?

A cash back credit card is a type of card that gives you a percentage of your money back for each purchase you make on the card. Most cards offer cash back at a rate somewhere between 1 and 5 percent. Once you're ready to redeem your cash, you may receive it as a statement credit, a paper check or get it direct deposited into your bank account.

Is a cash back credit card worth it for me?

Wondering whether a cash back credit card is worth it? If you're looking for an easy and flexible way to earn rewards, then this type of card may be right for you. Unlike points or miles on a travel card, which can take a long time to earn a free flight or hotel stay, you can spend the cash you've earned whenever you want on any purchase.

How to choose the best cash back credit card for you

Here are some factors to consider when comparing cash back credit cards:

New cardholder rewards

Many cash back credit cards offer a reward for new cardholders in their first year. That can include a lump sum cash reward for meeting a spending goal or even a 100% match of all cashback earned in your first year. This is a great way to earn some extra cash in a short time period!

Bonus categories

The best cash back credit card for you should have bonus categories for cash back that match your spending habits and preferences. If you spend a lot on grocery shopping each month, consider a card that offers extra cash back for purchases at the supermarket. Or, if you commute to work every day during the week, look for a card that offers a good percentage of money back for transit spending.

Perks

Consider extra perks that add value when looking for the right cash back card for you. Some credit cards offer no foreign transaction fees, purchase and travel protection, and other added benefits that you can take advantage of.

Annual fee

If you're looking at cash back cards with annual fees, remember that the card will only be worth it if you'll earn more cash back than what you're paying each year. Since cards with annual fees tend to offer more benefits, you may be able to get the most out of this type of card. And if you don't want to pay an annual fee, there are also plenty of no annual fee cash back cards out there.

Cash back credit cards offer an easy way to get some extra cash just by making your everyday purchases. Since there are many cards to choose from, make sure to do your research. By comparing benefits like bonus categories, annual fees and additional perks and considering what you typically spend money on, you'll find a great card that works for you.



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