Cash Back Credit Cards 

Get Cash Back 

With so many credit cards out there these days, it is very hard to know which one to choose.  In looking at human needs and habits, I have found several credit cards that have stood out as ones that are money saving and worth mentioning.     

For those who spend a lot of money at grocery stores, drugstores, and gas station, the best credit cards are ones that give cash back when you use the credit cards at these types of establishments.  One of the best ones out there currently is the Citi Driver’s Edge Options Platinum Select Mastercard.  With this credit card, you can earn up to 6% rebates (cash back) on the purchases you make at supermarkets, drugstores, and gas stations for 12 months.  It drops down to 3% thereafter and is 1% on all other purchases.  In addition, you can get $1 for every 100 miles you drive, up to $1,000 every 12 months.  The rebates can be redeemed toward the purchase or lease of any new or used vehicle, automotive maintenance or converted to ThankYou Points for gift cards, merchandise, and services.  This credit card has no annual fee and gives 0.00% APR on balance transfers for 12 months.  To see what this translates into, let me give an example:

For the first 12 months, 6% rebate (cash back) on purchases at supermarkets, drugstores, and gas stations
$1667 in purchases = $100 reward cash
10,000 miles drove = $100 reward cash
Total reward cash   =   $200 reward cash
This $200 can be redeemed towards car expenses or for a new/used car.  Another option is that this $200 reward cash can be converted into 20,000 ThankYou points which would allow you to purchase two $100 gift cards or get $100 + $25 statement credits and still have 1,500 ThankYou points left over.

Travel Rewards Credit Cards

 For those who like traveling and taking vacations but can’t afford the airfare, the second type of credit cards that are worth mentioning are those that offer airline miles for every $1 purchase.  Most of these credit cards give enough miles to equal one airline ticket when you first sign up.  United Airlines credit card in conjunction with Chase Credit Card will offer anywhere from 16,000 miles to 26,000 for signing up.  American Airlines Credit Card in conjunction with Citicard may offer anywhere from 20,000 to 48,000 miles for signing up.  The program varies from airline to airline.  However, with most airline, 25,000 miles is enough for one domestic round trip plane ticket to anywhere in the US.  I have traveled to Europe twice by redeeming these airlines miles. 

How about those that would like to purchase toys for their children but can’t afford them?  I would suggest signing up for the Toys-R-Us credit card.  I used to think that Toys-R-Us was an expensive place to shop until I bought a new Luv’s crib on clearance sale for $49 (retail $149.99), a complete kid’s wooden desk, chair, and closet furniture set by Imaginarium for $18 (retail $129.99), and a new Rose Petal Cottage playhouse for $24 (retail $99.99).  In addition, I spoke with the manager who mentioned that if I signed up for their Toys-R-Us credit card, I can get an additional 10% the clearance price.  The store manager was willing to take 10% off all my prior Toys-R-Us purchase receipts.  This brought my already low purchase price even lower!  The nice thing about the credit card is that they will occasionally send 10% off coupons through the mail for any Toys-R-Us or Babies-R-Us purchases.  

Please note that while signing up for all these different credit cards can save you a lot of money, they only work if you are meticulous about not over-purchasing and are able to pay off the entire balance each month so that you don’t accrue finance charges.  Incurring finance charges can end up costing more than you save so be very careful to always pay off your entire balance for each statement. 

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