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5% Cashback Credit Cards - Earn Cashback Rewards
Cashback cards are considered the most lucrative rewards offers. Consumers have the ability to earn up to 5% cash back on all purchases made with these offers, which make them an incredible deal. Because of this, we have built this website with the intention of providing consumers with a one-stop shopping experience where they may compare these offers from major issuers and apply securely online to begin reaping the benefits of cash rebates.
Featured 5% Cashback Credit Card:
Taking Full Advantage of 5% Cashback Deals
The best way to take full advantage of any rewards credit card, be it miles, points, or in this case cashback, is to make all purchases that you would normally make with either cash or your debit card with your rewards card. Adhering to this basic principle and having the discipline to make all purchases with your card will allow you to optimize your rebate potential.
Make Timely Payments to Preserve Your Earnings
With cashback offers, issuers are giving you money back which effects their bottom line. Most rewards cards have stipulations within their terms and conditions stating that failure to make timely payments may result in forfeiture of rewards or rebates accrued during that billing cycle. Some even state that you may forfeit all of your cash rewards if you make one late payment. Make sure that your payments are prompt. Almost every financial institution now has either automatic, online, or telephonic payment options. Take advantage of these and be sure to read the contract of the card you carry to clearly understand the terms of your rebates from spending.
Identify the Secondary Use of Your Card
If earning cashback is the main focus of a new credit card, it's important to identify the secondary uses as well. For example, do you plan on using the card for balance transfers as well? Do you plan on making purchases that will require you to carry a balance from month to month? If the answer to either of these questions is "yes" it's important to seek out a 5% cashback card that not only comes with high rebate potential, but one with a low interest rate and 0% introductory terms as well. Even if you plan on paying your balance in full every month, there may be a month or two that require you to just make the minimum payment, and limiting interest accrual which may negate any earnings for purchase use is key. When applying for a new cashback offer, identify one with a consumer friendly pricing structure to protect yourself.
Do 5% Cashback Cards Really Provide a Full 5% Cashback?
The answer to this is yes and no. Though many offers are advertised as 5% deals, they typically offer either 5% for a given period (30 days is the norm) and then bump you into a 1% structure. However, the best cashback credit cards offer rotating 5% incentives. For example, one month you may receive 5% rebates at grocery stores. The next month, it may be a quick service restaurants or gas stations. Others may allow you to create your own tailored program which allow you to earn bonuses and rebates at places you shop the most. It would be impossible to reward you with 5% across the board forever as this would inevitably need to be displaced on merchants who already pay very high transaction fees for taking plastic.
Examine Your Options
One of the biggest mistakes that most consumers make when shopping for a credit card is that they don't compare deals. This is a huge mistake. Think of it like shopping for a TV. If you need a new television, you don't just go out and buy the first one you see right? We suggest that when you look for a new 5% cashback card that you sort through the offers and find the one you want. That is the purpose of our site, to allow you to compare 5% rebate deals before you apply.
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