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Partner Offers
APR
Annual Fee
Rewards
Credit card offers are not available in all states.
Blue Cash Preferred® Card from American Express
Apply
on American Express's website
Apply
on American Express's website
APR
14.49% - 25.49% Variable
Intro APR:
0% on Purchases for 12 months
Annual Fee
$95
Rewards
6% Cash Back on Groceries
3% Cash Back on Gas
1% Cash Back on Everyday
Terms Apply
Balance Transfer
0% Intro APR on Balance Transfers for 12 months
Credit Range
Good - Exceptional
$200 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.
6% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%) – that means spending $60 a week at U.S. supermarkets could earn over $180 back per year.
3% cash back at U.S. gas stations and at select U.S. department stores, 1% back on other purchases.
Low intro APR: 0% for 12 months on purchases and balance transfers, then a variable rate, currently 14.49% to 25.49%.
Over 1.5 million more places in the U.S. started accepting American Express® Cards in 2017.
Cash back is received in the form of Reward Dollars that can be easily redeemed for statement credits, gift cards, and merchandise.
$95 annual fee.
Terms Apply.
See additional details for
Blue Cash Preferred® Card from American Express
Discover it® - 18 Month Balance Transfer Offer
Apply
on Discover's website
Apply
on Discover's website
APR
13.49% - 24.49% Variable
Intro APR:
0% on Purchases for 6 months
Annual Fee
$0
Rewards
5% Cash Back on Rotating Categories
Balance Transfer
0% Intro APR on Balance Transfers for 18 months
Credit Range
Good - Exceptional
INTRO OFFER: Discover will match ALL the cash back earned at the end of your first year, automatically.
Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically.
Redeem cash back any amount, any time. Rewards never expire.
100% U.S. based customer service.
Get your free Credit Scorecard with your FICO® Credit Score, number of recent inquiries and more.
Receive FREE Social Security number alerts—Discover will monitor thousands of risky websites when you sign up.
No annual fee.
See additional details for
Discover it® - 18 Month Balance Transfer Offer
APR
13.49% - 24.49% Variable
Intro APR:
0% on Purchases for 14 months
Annual Fee
$0
Rewards
5% Cash Back on Rotating Categories
Balance Transfer
0% Intro APR on Balance Transfers for 14 months
Credit Range
Good - Exceptional
Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate.
Earn unlimited 1% cash back on all other purchases – automatically.
INTRO OFFER: Discover will match ALL the cash back earned at the end of your first year, automatically.
Redeem cash back any amount, any time. Rewards never expire.
Use your rewards at Amazon.com checkout.
No annual fee.
See additional details for
Discover it® - Cashback Match™
APR
14.49% - 23.49% Variable
Intro APR:
0% on Purchases for 6 months
Annual Fee
$0
Rewards
5% Cash Back on Rotating Categories
Balance Transfer
10.99% Intro APR on Balance Transfers for 6 months
Credit Range
Fair
Get a dollar-for-dollar match of all the cash back you've earned at the end of your first year, automatically.
Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants or Amazon.com up to the quarterly maximum each time you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically.
Good Grades Rewards: $20 cash back each school year your GPA is 3.0 or higher for up to the next 5 years.
No annual fee. No late fee on first late payment. No APR change for paying late.
Get 100% U.S. based customer service & get your free Credit Scorecard with your FICO® Credit Score, number of recent inquiries and more.
Freeze It® on/off switch for your account that prevents new purchases, cash advances & balance transfers in seconds.
Receive FREE Social Security number alerts—Discover will monitor thousands of risky websites when you sign up.
0% intro APR on purchases for 6 months, then the standard variable purchase APR of 14.49% - 23.49%.
See additional details for
Discover it® for Students
APR
13.49% - 24.49% Variable
Intro APR:
0% on Purchases for 14 months
Annual Fee
$0
Rewards
5% Cash Back on Rotating Categories
Balance Transfer
0% Intro APR on Balance Transfers for 14 months
Credit Range
Good - Exceptional
Choose your favorite team & show your pride - all 31 teams available. Save 10% at Shop.NHL.com and NHL.TV™.
INTRO OFFER: Discover will match ALL the cash back earned at the end of your first year, automatically.
Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate. Plus, earn unlimited 1% cash back on all other purchases – automatically.
Get 100% U.S. based customer service & get your free Credit Scorecard with your FICO® Credit Score, number of recent inquiries and more.
Receive FREE Social Security number alerts—Discover will monitor thousands of risky websites when you sign up.
No annual fee.
See additional details for
NHL® Discover it® Card
APR
13.15% - 27.15% Variable
Intro APR:
N/A
Annual Fee
$0
Rewards
5% Cash Back on Gas
2% Cash Back on Groceries
1% Cash Back on Everyday
Balance Transfer
13.15% - 27.15% Variable
Credit Range
Good - Exceptional
USAA membership is available to active and former military and their eligible family members
Earn 5% cash back on your first $3,000 in gas and military base purchases annually on these categories combined
Earn 2% cash back on your first $3,000 on supermarket purchases per year
Unlimited 1% cash back on all other purchases
See additional details for
Cashback Rewards Plus American Express® Card
APR
17.49% - 24.49%
Intro APR:
N/A
Annual Fee
$0
Rewards
3% Cash Back on Travel
2% Cash Back on Dining
1% Cash Back on Everyday
Balance Transfer
N/A
Credit Range
Good - Exceptional
More cashback on the things you enjoy the most: 3% on travel/entertainment, 2% on restaurants & 1% on all other purchases
Credit limit up to $10,000
No annual fee
No foreign transaction fees
Use anywhere in the world Mastercard is accepted
Includes Mastercard Platinum Benefits like Price Protection, Travel Assistance, ID Theft Protection, Car Collision Damage Waiver & Extended Warranty
Refer a Friend Program: Once a referred friend is approved for any Deserve Mastercard, then activates and uses his/her card, you both will earn a $30 statement credit. Earn a $200 bonus after 10 approved referrals — for a total of $500 in statement credits!
See additional details for
Deserve® PRO
Blue Cash Everyday® Card from American Express
Apply
on American Express's website
Apply
on American Express's website
APR
14.49% - 25.49% Variable
Intro APR:
0% on Purchases for 15 months
Annual Fee
$0
Rewards
3% Cash Back on Groceries
2% Cash Back on Gas
1% Cash Back on Everyday
Terms Apply
Balance Transfer
0% Intro APR on Balance Transfers for 15 months
Credit Range
Good - Exceptional
$150 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.
3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%).
2% cash back at U.S. gas stations and at select U.S. department stores, 1% back on other purchases.
Low intro APR: 0% for 15 months on purchases and balance transfers, then a variable rate, currently 14.49% to 25.49%.
Over 1.5 million more places in the U.S. started accepting American Express® Cards in 2017.
Cash back is received in the form of Reward Dollars that can be easily redeemed for statement credits, gift cards, and merchandise.
No annual fee.
Terms Apply.
See additional details for
Blue Cash Everyday® Card from American Express
Luxury Card™ Mastercard® Black Card™
Apply
on Luxury Card's website
Apply
on Luxury Card's website
APR
16.49% Variable
Intro APR:
0% for 15 months for each Balance Transfer that posts to your account within 45 days of account opening
Annual Fee
$495
Rewards
2% Cash Back on Travel
1.5% Cash Back on Everyday
Balance Transfer
16.49% Variable
Credit Range
Very Good - Exceptional
Unique Stainless Steel – Patented Card Design
1.5% Value for Cash Back Redemptions
2% Value for Airfare Redemptions
24/7 Luxury Card Concierge™
$100 Annual Airline Credit Toward Qualifying Purchases
Global Entry & TSA Pre✓® Application Credit
VIP Airport Lounge Access with Priority Pass™ Select
Luxury Card Travel Rates & Benefits
Members-Only LUXURY MAGAZINE
0% introductory APR for the first fifteen billing cycles following each balance transfer that posts to your account within 45 days of account opening
See additional details for
Luxury Card™ Mastercard® Black Card™
APR
24.49% Variable
Intro APR:
N/A
Annual Fee
$0
Rewards
2% Cash Back
Balance Transfer
10.99% Intro APR on Balance Transfers for 6 months
Credit Range
Poor - Fair
No Annual Fee, cash back on every purchase, and helps you build your credit with responsible use.
Your Secured Credit Card requires a refundable security deposit up to the amount we can approve of at least $200 which will establish your credit line. You will need to provide your bank information when submitting your security deposit.
We will automatically begin reviewing your account starting at 8 months to see if we can transition you to an unsecured line of credit.
Earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, automatically. Plus, earn unlimited 1% cash back on all other purchases – automatically.
Get a dollar-for-dollar match of all the cash back you’ve earned at the end of your first year, automatically.
Receive FREE Social Security number alerts—Discover will monitor thousands of risky websites when you sign up.
See additional details for
Discover it® Secured Card - No Annual Fee
Luxury Card™ Mastercard® Gold Card™
Apply
on Luxury Card's website
Apply
on Luxury Card's website
APR
16.49% Variable
Intro APR:
0% for 15 months for each Balance Transfer that posts to your account within 45 days of account opening
Annual Fee
$995
Rewards
2% Cash Back on Travel
2% Cash Back on Everyday
24K-Gold-Plated – Patented Card Design
2% Value for Cash Back Redemptions
2% Value for Airfare Redemptions
24/7 Luxury Card Concierge™
$200 Annual Airline Credit Toward Qualifying Purchases
Global Entry & TSA Pre✓® Application Credit
VIP Airport Lounge Access with Priority Pass™ Select
Luxury Card Travel Rates & Benefits
Members-Only LUXURY MAGAZINE
0% introductory APR for the first fifteen billing cycles following each balance transfer that posts to your account within 45 days of account opening
See additional details for
Luxury Card™ Mastercard® Gold Card™
APR
13.49% - 24.49% Variable
Intro APR:
0% on Purchases for 14 months
Annual Fee
$0
Rewards
2% Cash Back
Balance Transfer
0% Intro APR on Balance Transfers for 14 months
Credit Range
Good - Exceptional
INTRO OFFER: Discover will match ALL the cash back earned at the end of your first year, automatically.
Earn 2% cash back at gas stations and restaurants on up to $1,000 in combined purchases each quarter, automatically. Plus, earn unlimited 1% cash back on all other purchases – automatically.
Redeem your cash back for any amount, any time. Cash rewards never expire.
100% U.S. based customer service.
Get your free Credit Scorecard with your FICO® Credit Score, number of recent inquiries and more.
Receive FREE Social Security number alerts—Discover will monitor thousands of risky websites when you sign up.
No annual fee.
See additional details for
Discover it® chrome
APR
14.49% - 23.49% Variable
Intro APR:
0% on Purchases for 6 months
Annual Fee
$0
Rewards
2% Cash Back
Balance Transfer
10.99% Intro APR on Balance Transfers for 6 months
Credit Range
Fair
Get a dollar-for-dollar match of all the cash back you've earned at the end of your first year, automatically.
2% cash back at restaurants and gas stations on up to $1,000 in combined purchases every quarter - no sign-ups needed. Plus, earn unlimited 1% cash back on all other purchases – automatically.
Good Grades Rewards: $20 cash back each school year your GPA is 3.0 or higher for up to the next 5 years.
No annual fee. No late fee on first late payment. No APR change for paying late.
Get 100% U.S. based customer service & get your free Credit Scorecard with your FICO® Credit Score, number of recent inquiries and more.
Freeze It® on/off switch for your account that prevents new purchases, cash advances & balance transfers in seconds.
Receive FREE Social Security number alerts—Discover will monitor thousands of risky websites when you sign up.
0% intro APR on purchases for 6 months, then the standard variable purchase APR of 14.49% - 23.49%.
See additional details for
Discover it® chrome for Students
Luxury Card™ Mastercard® Titanium Card™
Apply
on Luxury Card's website
Apply
on Luxury Card's website
APR
16.49% Variable
Intro APR:
0% for 15 months for each Balance Transfer that posts to your account within 45 days of account opening
Annual Fee
$195
Rewards
2% Cash Back on Travel
1% Cash Back on Everyday
Balance Transfer
16.49% Variable
Credit Range
Very Good - Exceptional
Unique Brushed Stainless Steel – Patented Card Design
1% Value for Cash Back Redemptions
2% Value for Airfare Redemptions
24/7 Luxury Card Concierge™
Luxury Card Travel Rates & Benefits
Members-Only LUXURY MAGAZINE
0% introductory APR for the first fifteen billing cycles following each balance transfer that posts to your account within 45 days of account opening
See additional details for
Luxury Card™ Mastercard® Titanium Card™
APR
13.15% - 27.15% Variable
Intro APR:
N/A
Annual Fee
$0
Rewards
1.5% Cash Back on Everyday
Balance Transfer
13.15% - 27.15% Variable
Credit Range
Good - Exceptional
USAA membership is available to active and former military and their eligible family members
Earn 1.5% cash back on every purchase
There's no limit on the amount you can earn
Redeem your rewards anytime online or with the USAA Mobile App
See additional details for
Preferred Cash Rewards Visa Signature®
APR
14.49% - 26.49% (Variable)
Intro APR:
0% on Purchases for 12 months
Annual Fee
$0
Rewards
1.5% Cash Back on Everyday
Intro Bonus Worth:
$200
$200
Balance Transfer
0% Intro APR on Balance Transfers for 12 months
Credit Range
Good - Exceptional
Earn a $200 cash rewards bonus after spending $1,000 in the first 3 months
Earn unlimited 1.5% cash rewards on purchases
Enjoy 1.8% cash rewards on qualified mobile wallet purchases, like Apple Pay® or Android Pay™, during the first 12 months from account opening
No category restrictions or sign ups and cash rewards don’t expire as long as your account remains open
Get up to $600 protection on your cell phone (subject to $25 deductible) against covered damage or theft when you pay your monthly cellular telephone bill with your Wells Fargo Cash Wise Visa® Card
0% Intro APR for 12 months on purchases and balance transfers, then a 14.49%-26.49% variable APR; balance transfer fees apply
$0 Annual Fee
Select "Apply Now" to learn more about the product features, terms, and conditions
See additional details for
Wells Fargo Cash Wise Visa® Card
APR
16.49% - 25.24% Variable
Intro APR:
0% on Purchases for 15 months
Annual Fee
$0
Rewards
1.5% Cash Back
Intro Bonus Worth:
$150
$150
Balance Transfer
0% Intro APR on Balance Transfers for 15 months
Credit Range
Good - Exceptional
Unlimited 1.5% cash back on every purchase - it's automatic
Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.49-25.24%. Balance transfer fee is 5% of the amount transferred, $5 minimum.
No minimum to redeem for cash back
Cash Back rewards do not expire as long as your account is open
Free credit score, updated weekly with Credit JourneySM
No annual fee
See additional details for
Chase Freedom Unlimited®
APR
24.99%* (Variable)
Intro APR:
0% on Purchases and Balance Transfers for 9 months*
Annual Fee
$0
Rewards
1-2% Cash Back
Balance Transfer
24.99%* (Variable)
Credit Range
Good - Exceptional
Earn cash back twice on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
Balance transfers do not earn cash back
0% Intro APR on Balance Transfers and Purchases for 9 months; after that, the variable APR will be 24.99%
There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater.
No categories to track, no caps on cash back, no annual fee*
See additional details for
Citi® Double Cash Card
APR
14.99% - 24.99%* (Variable)
Intro APR:
0% on Balance Transfers for 18 months*
Annual Fee
$0
Rewards
1-2% Cash Back
Balance Transfer
14.99% - 24.99%* (Variable)
Credit Range
Good - Exceptional
Earn cash back twice on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
Balance transfers do not earn cash back
0% Intro APR on Balance Transfers for 18 months. After that, the variable APR will be 14.99% - 24.99% based on your creditworthiness*
Click 'Apply Now' to see the applicable balance transfer fee and how making a balance transfer impacts interest on purchases.
If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including balance transfers) by the due date each month
There is a balance transfer fee of either $5 or 3% of the amount of each transfer, whichever is greater. Balance transfers must be completed within 4 months of account opening.
No categories to track, no caps on cash back, no annual fee*
See additional details for
Citi® Double Cash Card – 18 month BT offer
APR
20.24%
Intro APR:
N/A
Annual Fee
$0
Rewards
1% Cash Back on Everyday
Balance Transfer
N/A
Credit Range
Good - Exceptional
1% unlimited cash back on all purchases
Deserve will pay for Amazon Prime Student, get free Video, Music & Reading (up to a $49 lifetime value)
Up to a $5,000 credit line
No annual fee
No foreign transaction fees
No security deposit or co-signer required (No SSN required for international students)
Builds credit history
Use anywhere in the world Mastercard is accepted
Includes Mastercard Platinum Benefits like Price Protection, Travel Assistance, ID Theft Protection, Car Collision Damage Waiver & Extended Warranty
Refer a Friend Program: Once a referred friend is approved for any Deserve Mastercard, then activates and uses his/her card, you both will earn a $30 statement credit. Earn a $200 bonus after 10 approved referrals — for a total of $500 in statement credits!
See additional details for
Deserve® EDU
APR
16.49% - 25.24% Variable
Intro APR:
0% on Purchases for 15 months
Annual Fee
$0
Rewards
1% Cash Back
Intro Bonus Worth:
$150
$150
Balance Transfer
0% Intro APR on Balance Transfers for 15 months
Credit Range
Good - Exceptional
Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate
Enjoy new 5% categories each quarter
Unlimited 1% cash back on all other purchases - it's automatic
0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.49-25.24%. Balance transfer fee is 5% of the amount transferred, $5 minimum.
Cash Back rewards do not expire as long as your account is open and there is no minimum to redeem for cash back
Free credit score, updated weekly with Credit JourneySM
No annual fee
See additional details for
Chase Freedom®
Official NASCAR® Credit Card from Credit One Bank®
Apply
on Credit One Bank's website
Apply
on Credit One Bank's website
APR
17.24% - 25.24% Variable
Intro APR:
N/A
Annual Fee
$0 - $99
Rewards
1% Cash Back
Balance Transfer
N/A
Credit Range
Poor - Exceptional
Receive 1% cash back rewards on eligible purchases and double cash back rewards at the NASCAR.com Superstore. Terms apply.
No need to fret—you’re covered by $0 Fraud Liability
Receive opportunities for credit line increases, a fee may apply
Choose your monthly payment due date for added convenience, terms apply
Monitor your credit with free online access to your Experian credit score, terms apply
Looking to rebuild credit? We report to the major credit bureaus monthly.
Never miss an account update with customizable text and email alerts
See additional details for
Official NASCAR® Credit Card from Credit One Bank®
Credit One Bank® Platinum Visa® for Building Credit
Apply
on Credit One Bank's website
Apply
on Credit One Bank's website
APR
19.15% - 25.24% Variable
Intro APR:
N/A
Annual Fee
$0 - $99
Rewards
1% Cash Back
Balance Transfer
N/A
Credit Range
Poor - Exceptional
Automatically earn 1% cash back rewards on eligible purchases including gas, groceries, and services such as mobile phone, internet, cable and satellite TV. Terms apply.
Looking for more credit? Get credit line increase opportunities, a fee may apply.
Choose your monthly payment due date for added convenience, terms apply
Track your progress with free online access to your Experian credit score, terms apply
Enjoy peace of mind with $0 Fraud Liability
Stay in-the-know with customizable account alerts via email and text
Access your account on-the-go with the Credit One Bank mobile app
Pick a card that fits your style. Multiple card designs are available, a fee may apply.
See additional details for
Credit One Bank® Platinum Visa® for Building Credit
Credit One Bank® Cash Back Rewards Credit Card
Apply
on Credit One Bank's website
Apply
on Credit One Bank's website
APR
19.15% - 25.24% Variable
Intro APR:
N/A
Annual Fee
$0
Rewards
1% Cash Back
Balance Transfer
N/A
Credit Range
Fair - Exceptional
1% cash back rewards on all purchases, no annual fee, and a competitive APR are just a few of the benefits qualified applicants will enjoy. Terms apply.
With $0 Fraud Liability, you won’t be responsible for unauthorized charges
Managing your account is easy with the Credit One Bank mobile app
Pick a card that fits your style. Multiple card designs are available, a fee may apply.
Monitor your credit with free online access to your Experian credit score, terms apply
Never miss an account update with customizable text and email alerts
Do your part to help the environment with the option to go paperless
See additional details for
Credit One Bank® Cash Back Rewards Credit Card
Official NASCAR® Credit Card from Credit One Bank®
Apply
on Credit One Bank's website
Apply
on Credit One Bank's website
APR
17.24% - 25.24% Variable
Intro APR:
N/A
Annual Fee
$0
Rewards
1% Cash Back
Balance Transfer
N/A
Credit Range
Fair - Exceptional
Qualified applicants will receive exclusive benefits such as 1% cash back rewards on all purchases, no annual fee, and a competitive APR. Terms apply.
Get double cash back rewards at the NASCAR.com Superstore, terms apply
Zero Fraud Liability ensures that your account is protected against unauthorized charges
Enjoy more buying power with credit line increase opportunities, a fee may apply
Take advantage of free online access to your Experian credit score and credit report summary. Terms apply.
Managing your account is easy with the Credit One Bank mobile app
Always know what’s happening with your account with custom email and text alerts to remind you about your payment due date, notify you when a payment posts, or warn you if your available credit runs low
See additional details for
Official NASCAR® Credit Card from Credit One Bank®
Advertiser Disclosure: The credit card offers that appear on this site are from third party companies ("our partners") from which Experian Consumer Services receives compensation, however the compensation does not impact how or where the products appear on this site. The offers on the site do not represent all available financial services, companies, or products.
Credit scores are used to represent the creditworthiness of a person and may be one indicator to the credit type you are eligible for. However, credit score alone does not guarantee or imply approval for any offer.
*For complete information, see the offer terms and conditions on the issuer or partner's website. Once you click apply you will be directed to the issuer or partner's website where you may review the terms and conditions of the offer before applying. We show a summary, not the full legal terms – and before applying you should understand the full terms of the offer as stated by the issuer or partner itself. While Experian Consumer Services uses reasonable efforts to present the most accurate information, all offer information is presented without warranty.
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25 Offers
Cash back credit card basics
How cash back credit cards work
Cash back rewards are based on a percentage of qualified purchases. These percentages can vary from 1% to as high as 5%. Some issuers will provide a percentage for any purchase, whereas others will have varied percentages based on purchasing categories, such as groceries or gas.
Applying for a cash back card
Not only can a higher FICO Score potentially get you a better APR, it could also get you a better rewards card. If you have a fair FICO Score, you may still qualify for a cash back card, but working on your credit and FICO Score could help you get the cash back card you want.
Additional things to look for
Issuers can also incentivize with additional cash back rewards. There are some cash back cards that reward you when you purchase and when you pay your bill, and some issuing banks will reward you again if you deposit the cash back into a qualified checking or savings account. Others will also offer higher cash back percentages for purchases made at a specific brand or store, and these may also include an annual or member fee.
Maximizing cash back rewards
- Know your FICO Score: When you know what FICO Score range you’re in it can help you stay on top of your credit and will keep you informed with what offers are best matched for you. With your FICO Score, you will know the factors impacting your credit, so that you have a smarter way of achieving the goals you set.
- Pay your credit card bill on time: When you miss a payment, you may pay a late fee of up to $35. If you had cash reward credit card with 1% rewards, then you would have to spend $3,500 to receive $35 in cash rewards. Paying a late fee could negate your cash rewards quickly, and it can negatively impact your FICO Score.
- Pay off your credit card bill every month: When you pay off your bill every month, you can avoid paying any interest charges and grow your cash rewards. Carrying a high balance could negate the rewards benefits you have accumulated, and even put you in the red. High balances could also affect your FICO Score negatively. If you had spent $1,000 on a cash back credit card with 1% rewards that had an average APR, and only paid the minimum payment of $25 when the bill was due, then the interest you pay for that month could be $15. In this case, the $10 cash back for spending the $1,000 would be wiped out and you would actually owe more because of the interest accrued.
- Consider avoiding cash advances: Typically, there is a fee associated with cash advances. For example, an issuer may charge $10 or 5%, whichever is greater. If you took an advance of $100, 5% would be $5, and since it is the lower of the two, you would have to pay a fee of $10, which in this case turns out to be a 10% fee. You would then have to spend $1,000 on a 1% cash back card, just to get that $10 fee back.
†Credit score calculated based on FICO® Score 8 model. Your lender or insurer may use a different FICO® Score than FICO® Score 8, or another type of credit score altogether. Learn More.