Cash Back Credit Cards: Three to Consider

by : Edward Vegliante

Do you like the idea of earning money just for using your credit card? If so, consider applying for a cash back credit card. Each time you buy something, a portion of the amount spent will come back to you as a reward.

Cash back credit cards offer a variety of other benefits, from low introductory rates to travel insurance. Before signing up for one, you'll want to compare the different features available. Following are three cards to help you get started on your search.

Free Cash Rewards Platinum Visa Card

This card, issued by Chase, is a solid option if you have very good credit. You'll earn one point for each dollar you spend with the card. As a start-up bonus, you'll receive 1,000 points for your first purchase. When your points reach the 2,500 mark, you can expect a check for $25 (you can also have the $25 come in the form of a gift certificate). Additional features include no annual fee and 0% interest for up to 12 months. Because it's platinum, you'll have a variety of extra benefits provided by Chase, including insurance for car rentals and travel.

Blue Cash From American Express

If you have excellent credit, this card from American Express may be the right choice. You'll earn up to 5% on items that fall into the "Everyday Purchases" category, which include shopping at gas stations, supermarkets and drugstores. For general purchases, you can expect to receive up to 1.5% in cash back.

This card comes with no annual fee and a 0% APR for the first six months. It allows you to transfer balances from another card for a reasonably low rate of 4.99%. When you apply, you'll find out if you've been approved in less than a minute. This card was named the "best cash rebate card" by Kiplinger's Personal Finance.

Discover More Card

The more you shop, the more benefits you'll receive with the Discover More Card. You'll get 5% back when you buy items from certain categories, such as home, gas, travel, and restaurants. For other purchases, the rebates will be up to 1%. If you redeem your rebate for a gift certificate from one of the Discover Card Partners, you can double the amount you receive in rewards.

There's no annual fee with this card. It also comes with a 0% interest rate on balance transfers for a year, as well as a 0% APR for the first six months. You can choose from a variety of card designs when you sign up.

As you look for the right card, you'll find that there are many to choose from. Some cash back cards place the money you earn on your account. Others send you a check, and still others offer gift cards and certificates as another option. Decide how you want to receive your cash rewards. Then look through the options that fit your criteria.

Once you've made a decision on the rebate options, look at the other features. Read through the terms and conditions, and make sure you understand them before you apply. By knowing what you are signing up for, you'll be able to make the most out of your new plastic. Then you'll be ready to swipe the card and watch the cash rewards add up.