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How to Use Cash Back Credit Cards for Maximum Rewards

Cash back credit cards earn up to 5% cash back on everyday purchases.

Cash back credit cards are a great way to get more value out of every purchase you make. By leveraging the power of rewards, cash back cards can help you save money on everyday purchases like groceries and gas – and even larger items like electronics or furniture!

Compare Cash Back Credit Cards

When choosing a cash back credit card, it’s important to research different providers and compare their perks to find the best deal. Consider factors like the rewards rate, annual fees, and introductory offers when making a comparison. You can also look into different reward types such as flat-rate or tiered programs that offer higher rewards in certain categories of spending.

» Take a look at our picks for the best cash back credit cards.

Consider Credit Card Annual Fees

Credit card annual fees often help bolster cardholder benefits and perks like travel credits, exclusive rewards opportunities or free checked luggage on flights. You generally pay more per year for the cards that come with the most perks.

However, there are cash back credit cards with no annual fees that offer premium perks and rewards opportunities.

Consider Your Spending Habits

Consider how you will use the card and make sure the rewards structure is tailored to your spending habits. Depending on where you typically spend money, you may find that you get more out of a tiered program that offers higher rewards for certain categories such as groceries, gasoline, or travel.

On the other hand, if you tend to use your credit card for several different purchases each month, a flat-rate program may be better suited for you.

Utilize Payback Categories

Many cash back credit cards offer different rewards levels depending on the type of purchase you make. For example, some cards offer higher cash back on groceries, gas, or purchases from certain stores.

Utilize these payback categories to get the highest rewards for your money and maximize the value of your card.

Use Extra Benefits to Bolster Savings

Most cash back cards also provide extra benefits that can help you save more money in the long run. For example, many cards offer extended warranties, price protection, complimentary access to roadside assistance and even TSA Precheck renewal fee.

Utilizing these additional services can be a great way to avoid out-of-pocket costs and put even more savings back into your wallet!

Redeem for Maximum Value

When it comes to redeeming your rewards, you want to make sure that you’re getting as much value from them as possible. There are typically two main redemption methods available, cash back or statement credit.

Generally speaking, cashing out for statement credit will give you the highest value since it gives an immediate boost to your monthly bill. Some cards even offer additional rewards when redeemed this way, such as extra airline miles or gift points!

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Best online savings rates

The national savings rate is 0.47% APY. This online bank pays way more.

CIT Bank

Platinum Savings
5.05% APY
Minimum $5,000 balance
No maintenance fees
Mobile & Online Banking
Deposits are FDIC insured


5.21% APY
Minimum $1,000 balance
No maintenance fees
Mobile & Online Banking
Deposits are FDIC insured

Quontic Bank

4.50% APY
Minimum $100 balance
No maintenance fees
Mobile & Online Banking
Deposits are FDIC insured
Disclaimer: Our goal is to provide the most relevant and current information. However, the information is for informational purposes only and is not intended to be personal financial advice.

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