How to Compare Cash Back Credit Card Offers

If you have good to excellent credit, you can apply for a cash back credit card. Some of the benefits of these cards, and good credit, is that many offer a 0% Annual Percentage Rate (APR) for the first 6 months to a year. Many also offer no annual fee and 0% or a reduced APR on balance transfers for a certain period of time.

Difficulty: Moderately Easy

Instructions

1. Go to a website like creditcardassist.com or credit-cards-guru.com and click on the link to compare cash back credit cards.

2. Check out the information provided. Both of these sites will provide the basic terms of the credit cards determined to be the best deals for cash back.

3. Scour through the listings. On creditcardassist.com, the site provides a ranking of which card it thinks is the best deal. On credit-cards-guru.com, the information provided lists terms of credit cards, and you can click on links provided to get the full terms.

4. Consider the various deals. Take your time reading through the listings and consider the pros and cons of each card. American Express, Chase, and Discover appeared prominently in both sites as good cash back deals.

5. Decide what you're looking for in a card. Maybe you want to transfer balances or get 0% APR for as long as you can. Knowing what you want from a cash back credit card can help you narrow the field.

6. Read closely. See what the APR will be after the introductory rate ends. If you're planning on keeping the credit card for any length of time, you'll want an APR that does not skyrocket after the introductory rate expires.

7. Think about what you're planning to use the card for. Various cards have cash back only on certain products or have higher cash back rates for items like groceries or gas than other purchases. If you know what you'll use the credit card for, that can help you determine which card is the best choice for you. Some other perks to consider include rental car insurance and travel accident insurance with use of the card.

8. Pick a card and apply online. At the sites mentioned, you can apply online for the card you want.

9. Activate your new card and start buying! Soon you'll rack up enough purchases to start accruing some cash back and the credit card company will be paying you for a welcome change!

Tips & Warnings

• You're unlikely to receive a cash back card if your credit is poor. Focus instead on getting the best deal you can get and working your way back into the good graces of the credit system.
• Be sure to read all the fine print on credit card applications. You want to know, for example, what your APR will be after the introductory rate expires, whether there is an annual fee associated with the card and what happens to your rate if you default on a payment or are late with a payment.

Resources

• Creditcardassist.com provides comparisons of cash back offers.
• Credit-cards-guru.com also provides comparisons among credit card deals.