What Are the Best Cash Bonus Credit Cards?

Cash bonus credit cards are becoming increasingly popular among consumers who want toearn rewardsfor their spending. These cards provide a cash bonus when you meet certainspending requirementswithin a specific time period. This is a great way to earn extra cash, especially if you plan to make a large purchase or have a big expense coming up. In this article, we'll discuss the bestcash bonus credit cards, their features and benefits, and how to choose the right one for you.

Top Cash Bonus Credit Cards

1. Chase Freedom Unlimited: This card offers a $200 cash bonus after you spend $500 in the first three months of account opening. You'll earn 1.5% cash back on all purchases, and there's noannual fee.

2. Capital One Savor Cash Rewards: This card offers a $300 cash bonus after you spend $3,000 in the first three months of account opening. You'll earn 4% cash back on dining and entertainment, 2% at grocery stores, and 1% on all other purchases. There's a $95 annual fee, but it's waived for the first year.

3. Discover it Cash Back: This card offers a cashback match at the end of your first year, effectively doubling all the cash back you earn. You'll earn 5% cash back on rotating categories each quarter, and 1% on all other purchases. There's no annual fee.

4. American Express Blue Cash Preferred: This card offers a $250 statement credit after you spend $1,000 in the first three months of account opening. You'll earn 6% cash back on up to $6,000 in spending at U.S. supermarkets each year, 6% cash back on select U.S. streaming services, 3% cash back on transit and gas, and 1% on all other purchases. There's a $95 annual fee.

How to Choose the Best Cash Bonus Credit Card

When choosing a cash bonus credit card, consider your spending habits and goals. If you frequently dine out and attend events, the Capital One Savor Cash Rewards card might be the best fit for you. If you're looking to earn cashback on everyday purchases, the Chase Freedom Unlimited card might be a better option. Additionally, consider if you're willing to pay an annual fee for a higher cashback rate, or if you prefer a no-fee card.

Applying for a Cash Bonus Credit Card

When applying for a cash bonus credit card, be sure to read the fine print and understand the terms and conditions. Pay attention to the spending requirements, introductory offers, and annual fees. Additionally, make sure you have a goodcredit scoreto improve your chances of approval.

Saving Money with Cash Bonus Credit Cards

To make the most of your cash bonus credit card, use it for purchases you would make anyway, such as groceries or gas. Pay off your balance in full each month to avoid interest charges and maximize your rewards. Additionally, consider using your cash back to pay off your statement balance or save it for a rainy day.

Avoiding Risks with Cash Bonus Credit Cards

To avoid the risks of a cash bonus credit card, be sure to make payments on time and stay within your credit limit. Avoid carrying a high balance or making late payments, as this can damage your credit score and lead to additional fees and charges.

Conclusion

Cash bonus credit cards offer a great way to earn extra cash for your spending. By understanding the features and benefits of each card, you can choose the best one for your goals and spending habits. Additionally, by using your card responsibly, you can avoid risks and maximize your rewards for a brighter financial future.