Getting free money is very attractive to many people. The most unfortunate thing is that over 31 percent of people out there are entitled to some free money from credit card cash back, but they do not claim it after all. This is often attributed to lack of information in regards to the rewards claiming process. No doubt cashback credit cards are as confusing to you as they are to most people out there. A sure bet of finding the right card would be to do a thorough online credit card comparison. This credit card comparison process plays an integral role when it comes to the major factors to consider that will guarantee the best cashback credit card for your needs. Needless to mention, you have to take the initiative to make your rewards claim, failure to which you may not actually get it. So first things first, you must consider the rewards rate. The least attractive rewards rate should be two percent, but should you find one that has a reward rate of five percent or above, by all means embrace it.
The second important consideration of the best cashback credit card would certainly be the applicable annual fees. Does the card under your consideration have some annual fee or is it free of charge? While most of the top rated cards will rarely charge an annual fee, in the event you land on one that does, it is imperative that you establish beforehand whether or not the cash back rewards or perks can be used to offset the annual fee. In the event it does not, you might want to continue looking for the best cashback credit card with no annual fees.
By the same token, we cannot close this credit card comparison guide without mentioning the redemption flexibility and applicable redemption options. Some cashback credit cards will for example put a limit on the amount of money that can earn you a reward, say $20 or $50. You will also find some credit cards have no limitations when it comes to spending and rewards claiming. It is in such a case scenario where you look at your needs for the card based on how you want to redeem your rewards say in form of a gift card, a statement credit or even a check. However, the best approach would be to look at the spending categories of your selected credit card and decide whether a sign-up bonus will be an attractive option for you. No doubt a credit card that is in line with the above mentioned features will be your best bet.