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What Are the Top Cash Rewards Credit Cards for 2018?

Eva MarcilleVerified
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Summary：Discover the best cash rewards credit cards for 2018 and tips for choosing the right one. Explore Chase Freedom Unlimited, Discover it Cashback Match, Capital One Quicksilver Cash Rewards, and Citi Double Cash.

Cash rewards credit cards are a popular choice among consumers who want to earn money back on their purchases. With so many options available on the market, it can be difficult to determine which cash rewards credit card is the best fit for your needs. In this article, we will explore the top cash rewards credit cards for 2018 and provide tips for choosing the right card for you.

Chase Freedom Unlimited

The Chase Freedom Unlimited card offers unlimited 1.5% cash back on all purchases, making it a great choice for everyday spending. Additionally, new cardholders can earn a $150 bonus after spending $500 on purchases within the first three months of opening their account. The card also offers a 0% intro APR for the first 15 months on purchases and balance transfers, making it a great option for anyone looking to pay down debt.

Discover it Cashback Match

The Discover it Cashback Match card offers 5% cash back on rotating categories, as well as 1% cash back on all other purchases. Additionally, Discover will match all cash back earned by new cardholders at the end of their first year. This card has no annual fee and offers a 0% intro APR for the first 14 months on purchases and balance transfers.

Capital One Quicksilver Cash Rewards

The Capital One Quicksilver Cash Rewards card offers unlimited 1.5% cash back on all purchases, as well as a $150 cash bonus after spending $500 on purchases within the first three months of opening the account. This card has no annual fee and offers a 0% intro APR for the first 15 months on purchases and balance transfers.

Citi Double Cash

The Citi Double Cash card offers 1% cash back on all purchases, as well as an additional 1% cash back when you pay your balance. This means you can earn up to 2% cash back on all of your purchases. The card has no annual fee and offers a 0% intro APR for the first 18 months on balance transfers.

Tips for Choosing the Right Cash Rewards Credit Card

When choosing a cash rewards credit card, it is important to consider your spending habits and goals. Here are a few tips to help you make the right choice:

1. Look for a card with a sign-up bonus – Many cash rewards credit cards offer a sign-up bonus for new cardholders. This can be a great way to earn extra cash back on your purchases.

2. Consider spending categories – Some cash rewards credit cards offer higher cash back rates on specific spending categories, such as groceries or gas. If you spend a lot in these areas, it may be worth choosing a card that offers higher cash back rates in those categories.

3. Check forannual fees– While many cash rewards credit cards have no annual fee, some do. Make sure to consider the annual fee when choosing a card, as it can impact your overall cash back earnings.

4. Look for a 0% intro APR – If you have existing credit card debt or plan to make a large purchase, look for a card that offers a 0% intro APR on purchases and/or balance transfers. This can help you save money on interest charges while you pay down your balance.

Saving Money with Cash Rewards Credit Cards

In addition to earning cash back on your purchases, cash rewards credit cards can also help you save money in other ways. Here are a few tips:

1. Use cash rewards to pay off your balance – If you earn cash back on your purchases, consider using that money to pay off your credit card balance. This can help you avoid interest charges and reduce your overall debt.

2. Take advantage of sign-up bonuses – Sign-up bonuses can be a great way to earn extra cash back, but make sure to meet the spending requirements before the deadline to qualify for the bonus.

3. Pay your balance in full each month – To avoid interest charges and maximize your cash back earnings, make sure to pay your credit card balance in full each month.

Avoiding Fees and Risks with Cash Rewards Credit Cards

While cash rewards credit cards can be a great way to earn money back on your purchases, it is important to be aware of potential fees and risks. Here are a few things to keep in mind:

1. Avoid carrying a balance – Carrying a balance on your credit card can result in high interest charges and can negate the benefits ofcash back rewards.

2. Watch out for annual fees – Some cash rewards credit cards have annual fees, which can eat into your cash back earnings. Make sure to consider the annual fee when choosing a card.

3. Be aware offoreign transaction fees– If you plan to use your cash rewards credit card while traveling abroad, be aware of potential foreign transaction fees. These fees can add up quickly and can negate any cash back rewards earned.

Overall, cash rewards credit cards can be a great way to earn money back on your purchases. By choosing the right card and being aware of potential fees and risks, you can maximize your cash back earnings and save money in the long run.

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