Cashback Credit Cards

Cashback credit cards are a little different than your usual options with credit card rewards. Rewards cards offer points to accrue for the rewards. With the cashback option you are literally getting a refund from the credit card issuing company. The cashback rewards will accrue like points, however they accrue a lot faster than the other cards.

Let’s look at an example of this type of credit card to help you figure out what you might need to look for. Citibank offers a cash returns card in which you earn 1 percent cash back on every purchase you make. So if you go to the grocery store and spend 100 pounds for the week you would get 1 percent of that amount back.

You can also earn up to 20 percent cash back on purchases for the first 12 months. That is a significant savings that you will earn on all purchases that you make. Most cards only offer 5 percent on certain purchases. To add to this particular card you also get 12 months of zero percent interest on balance transfers. This can help you lower your debt if you are struggling. Even if you are not struggling it is a good way to save a little money, especially if you get the standard APR of 9.99 percent.

American Express, Discover, Barclaycard and several other issuing banks are going to have these cashback rewards. Some of the cards are specific in their cash back rewards like the discover card. Discover, which doesn’t have as big a business in the UK, offers cash back on travel, home, gas, restaurants, movies, and other entertainment related purchases. You can also get 20 percent cash back at certain online retailers.

The GM earnings card is a special type of cash back rewards card. Basically with this card you are earning 1 percent back for purchases that will be used towards vehicles. The vehicles are specific to GM and the line they are offering when you get enough cash back rewards to get a discount on the car. They offer 14.24 percent for the credit card’s annual percentage rate. That is a fairly low rate on credit cards these days.

When choosing a cashback credit card there are other options that you should consider. Comparing credit cards is important to know that you are getting the best rewards that you can get. With the Citi Dividen card you are earning 5 percent cash back on gas stations, supermarkets, drug stores, and convenience store purchases. You can even save on utility bills such as cable. This five percent cash back is for six months. After that you receive 2 percent back with 1 percent on all other purchases.

As you can see just in this article there are several options to choose from. By going online to a website like Money Supermarket you can compare the many cards available. This government site offers you comparisons, up to date articles and any information you might need regarding credit cards.