How to choose the right credit card with a plethora of cards available? Different types of cards will have different features and benefits. For example, some might offer points, miles, or cash back rewards. The best way is to take advantage of the rewards programs offered from different credit cards. Instead of just using one card for everything, look at which card offers the most rewards for your needs.
What are Cash Back Rewards?
Be rewarded with cash back!
A cash back reward is when a store refunds a percentage of the purchase price to the customer, often as points that are equivalent in value to money. There are many gift cards that offer cash back in their rewards program. Walmart offers one percent cash back on all purchases, for example, and Target offers two percent on all purchases made using their REDcard debit card.
The Best Ways To Earn Cash Back From Your Credit Card
The best way to earn cash back from your credit card is to use it the right way. If you have a retail store credit card, for example, then it is best to use it when shopping in that store. You can also be strategic and combine different cards with different terms and conditions to maximize your cash back potential.
As the new year has begun, you might be looking to update your financial status and travel more wisely by getting a rewards credit card. However, finding the one credit card with the highest cash back rewards is difficult.
That’s why we have come up with a list of the 5 Best Credit Cards with the Highest Cash Back Rewards for traveling:
Chase Saphire Reserve- best for business travelers
$550 annual fee + 20.74%–27.74% APR
$300 travel credit
get 60,000 points (approx. $900 for travel) after the first $4000 spent
get 10x points per $ spent for Chase dining, hotels & car rental
get 5x points per $ spent on flights
get 3x points per $ spent in any restaurant
1x for all other purchases
free access to lounges worldwide
priority boarding (no need to wait in line)
2 guest passes for Airport Lounges
Delta Sky Miles American Express Gold - great for families
0% interest the first year, then $99
get 40,000 miles after your first $2000 spent
2x miles per $ spent for Delta airlines, US supermarkets, restaurants
1x miles on any other purchase
no foreign transaction fees
first baggage free
Capital One Venture rewards card - best value
$95 annual fee
$75,000 miles intro offer if you spend 4k in first 3 months (worth $1388)
earn 5x miles on hotels and rental cars & 2x miles on every purchase
no foreign transaction fees
free use of Capital One lounges at airports (food & beverages unlimited)
bring 1 guest
Chase Freedom Flex℠ - most affordable
0% interest for the first 15 months
$200 bonus after you spend the first $500
get 1% cash back on any purchase
3% cash back on drugstores and restaurants
5% cash back on travel (for every $100 spent you get $5)
United Club Infinite Visa - best for frequent travelers
$525 annual fee + 20 -28 % APR
100,000 bonus miles
4x miles on United
2x miles for dining
1x miles on all other purchases
2 checked bags allowed
1 year $0 Delivery fee with Door Dash
access to Star Alliance lounges
2x guest passes to lounges
Making a Budget That Works Will Help You Pay Your Credit Card Bills
If you are pondering on how to save up for your dream travel destination or saving for a car, or your first house, the answer is simple - start saving today.
The more you save now, the less you will have to worry about in the future.
A budget is a way to organize your finances, set and reach financial goals, and meet your needs. But without the right tools and knowledge, it can be hard to create a budget and stick with it.
Budgeting is not an exact science, but it does have some basic rules. They include spending less than you earn, setting realistic goals for spending and saving, separating wants from needs, living within your means by identifying what’s important to you, and getting rid of unnecessary stuff.
With credit cards, you should always pay them off in full each month to avoid unnecessary interest and more debt in the future.
Our credit card spending is a reflection of the way we spend our lives. It's vital to understand our own spending patterns and take control by making changes where necessary.
We should be mindful about how much we spend on things we don’t need and attempt to save money when we can, such as using cash or debit instead of credit cards for small purchases and making full advantage of the rewards programs that are offered on different credit cards.
We should only own 1 credit card that we use only for traveling or grocery shopping because of the cash back rewards. You will be spending this money anyway.
Always have enough money to pay off your credit card in full each month to avoid debt.