credit-cards_2007247b   Credit card debt can be a dangerous thing but as long as you pay off the balance in full each month, getting cash back can be a great perk to using credit cards.

Cash back reward programs are essentially pretty simple.. Swipe, spend, and (eventually) be rewarded in cash. This cash reward cards can be more beneficial than receiving mils, points, or other types of rewards because of the simplicity and flexibility they offer. The question is, which       one pays the most? We have put together a list of what we believe are the 5 most  rewarding Cash Back Credit Cards.

 

  •  Fidelity Investment Rewards American Express card
    • This card pays 2% cash back on all purchases. A small con is that rather than sending you a check or statement credit, the cash back is deposited into a Fidelity account. You can, however, open a Fidelity account at no cost. This might even encourage you to invest this money rather than waste it on something you don’t really need.
    • Hint: Remember to be conscious of the fact that not all businesses accept American Express.
  •  PenFed Platinum Cash Rewards Visa® card
    • This card pays 5% cash back on gas purchases. 5% Cash back on gas can be can be a great perk, however to be able to sign up for this card you need to be a member of the credit union. Also, in order to avoid the annual fee you need to have another credit union product like a savings account.
    • Hint: It’s easy to join the credit union by simply making a $15 donation to “Voices for America’s Troops”.
  • American Express Blue Cash Preferred card
    • This card pays a 6% statement credit on grocery purchases, up to $6k per year, 3% back on gas and certain department stores, and 1% back on everything else. There is an annual fee for this card of $75, make sure you are spending enough each year to justify that fee.
    • Hint: If you do not spend enough you can consider the Blue Cash Everyday® card, which has similar cash back rewards.
  • Capital One® Quicksilver® Cash Rewards Credit Card
    • This card from capital one offers 1.5% cash back on every purchase. This card has no annual fee and the cash you earn never expires.
    • Hint: If you spend $500 within the first 3 months you can earn a one-time bonus of $100.
  • BankAmericard® Better Balance Rewards™ Credit Card
    • With this card you are rewarded with $25 per quarter when you pay more than the monthly minimum, and you pay on time.
    • Hint: You can earn a $5 bonus per quarter if you have at least one other qualifying account with Bank of America.