Cash Reward Cards
Learn about the best cash-rewards cards and how to use them
Frequently Asked Questions
How do cash-back cards work?
Cash-rewards cards have pre-determined cash-back rates for nearly every purchase you make. When you use your card to make a purchase, the card issuer calculates your rewards and deposits them to your account's rewards balance. Some cards have a flat rate for all other purchases, some offer a flat rate with a higher bonus for certain categories that change every quarter, and others provide a flat rate plus boosted rewards for specific purchase categories.
How do you get cash back from a credit card?
If your card offers cash-back rewards, you typically have at least four redemption options: a statement credit, a credit for past purchases, gift card purchases, and merchandise purchases. Some cards will let you redeem as little as 1 cent, while others require minimum redemption amounts such as $25.
Are cash-back cards worth it?
If you're someone who wants a simple way to earn extra cash from your purchases, cash-back cards are an excellent option. Most of them charge no annual fee, meaning you can accrue cash rewards at no cost as long as you pay off your balance every month.
Which cash-back card is best?
It depends. If you want a good all-around card, the HSBC Cash Rewards Mastercards is a solid option. And, if you don't mind tracking rewards categories to maximize your spending, the Chase Freedom Unlimited is a good fit.
Chase Ultimate Rewards
Chase Ultimate Rewards is a point-based credit card rewards program that allows holders of certain Chase-branded credit cards to earn rewards on travel and everyday purchases. You can then redeem those awards for cash back, or use them to pay for past purchases.
Capital One Venture Rewards
The Capital One Venture Rewards program offers rewards in the form of miles, but they’re not like frequent flyer miles that have the most value when you redeem them for award flights. Rather, you can use your Venture miles to cover just about any travel-related expense or redeem them for statement credits, gift cards, and other options.
Citi ThankYou Rewards
The Citi ThankYou Rewards program is a general rewards program that offers points you can use for cash back, statement credits, online shopping, travel, and gift cards
A CVV2, or “card verification value,” is a security code that payment processors use to reduce fraudulent credit and debit card transactions made over the internet or by phone.
The purchase annual percentage rate is the rate applied to a purchase balance to calculate the finance charge for the billing period, when it applies. When you charge a purchase to your credit card and carry the balance to the next billing cycle, for example, there will be a purchase APR applied to the unpaid portion of the balance.
A cash advance on your credit card is an amount of cash borrowed against your credit limit. It's like withdrawing money from the ATM with your debit card, except the cash comes from your credit limit rather than your bank account balance.
Chase Pay Yourself Back
Chase Pay Yourself Back is a program through which you can redeem your Chase Ultimate rewards points at a higher for certain past purchases.
Mastercard is one of four major U.S. processing networks, providing technology to facilitate electronic payments between consumers, businesses, and organizations.
An annual percentage rate (APR) is the interest rate you pay each year on a loan, credit card, or other line of credit. It’s represented as a percentage of the total balance you have to pay.
Credit Card Debt
Credit card debt is a type of revolving debt. You can keep borrowing month after month as long as you repay enough that you never owe more than your credit limit. Credit card accounts can be used indefinitely, unlike installment loan accounts that are closed once the balance is paid off.