05 Nov

Discover the Best Money Back Credit Cards of 2021

Written By Dom Mia
November 05, 2023

Posted at 23:22h in Cashback by Dom Mia

Cash-back credit cards are a popular choice for UK consumers looking to earn rewards on their credit card spending. These cards allow you to earn a percentage back on eligible purchases, giving you the opportunity to save money or earn extra cash. Whether you’re a frequent spender or just want to make the most of your everyday expenses, finding the best money back credit card can help you maximize your savings. In this article, I will explore the top options for money back credit cards in 2021, helping you choose the right card for your needs.

Key Takeaways:

The best money back credit cards offer rewards on eligible credit card spending.
Consider the type of cash-back card that suits your spending habits, whether it’s a flat-rate, tiered-rate, or rotating category card.
Compare the rewards rate, annual fees, and additional benefits offered by different cards.
Look into the redemption options and flexibility of the cash-back rewards.
Choose a card that aligns with your creditworthiness and eligibility.
Some of the top money back credit cards in 2021 include the Chase Freedom Unlimited® Card, Citi® Double Cash Card, Chase Freedom Flex℠, and Discover it® Student Cash Back.

How to Choose a Cash-Back Credit Card

When it comes to choosing a cash-back credit card, there are several factors to consider to ensure you find the best option for your needs. First and foremost, think about the type of cash-back card that aligns with your spending habits. Are you someone who makes a variety of purchases across different categories? If so, a rotating category card might be a good fit for you. On the other hand, if you prefer simplicity and want to earn the same percentage back on all purchases, a flat-rate card could be more suitable.

Next, take a close look at the rewards rate offered by the card. Some cards offer a higher percentage back for specific spending categories, while others provide a consistent rate across all purchases. Consider any spending caps or limitations that may apply, as these can impact the amount of cash back you can earn.

Don’t forget to compare the annual fees associated with different cash-back credit cards. While some cards have no annual fees, others may charge a fee in exchange for additional benefits or rewards. Additionally, look out for introductory offers or bonus categories that could boost your cash back earnings in the short term.

Lastly, make sure to evaluate the redemption options and flexibility of the cash-back rewards. Ideally, you want a card that offers multiple ways to redeem your cash back, whether it’s through a statement credit, direct deposit, or a check. It’s also worth considering the ease of redeeming your rewards and any limitations or restrictions that may apply.

By carefully considering these factors, you can choose a cash-back credit card that aligns with your spending habits and maximizes your cash back earnings. Remember to assess your creditworthiness and eligibility for the card as well, as some cards may have specific requirements.

Key Factors to Consider when Choosing a Cash-Back Credit Card:

Type of cash-back card (rotating, flat-rate, etc.)
Rewards rate and any spending caps
Annual fees and additional benefits
Introductory offers and bonus categories
Redemption options and flexibility
Creditworthiness and eligibility

The Best Money Back Credit Cards of 2021

When it comes to finding the best money back credit cards, there are several options that stand out in terms of rewards and benefits. These top cash back credit cards not only offer great cash back rates but also come with additional perks that make them worth considering.

The first card on the list is the Chase Freedom Unlimited® Card. This card offers unlimited cash back on all purchases, making it an excellent choice for those who want to earn rewards on every transaction. Additionally, the welcome bonus is quite generous, giving cardholders a head start in accumulating cash back.

Another top contender is the Citi® Double Cash Card. With a flat rate of cash back on all purchases, this card is perfect for individuals who prefer simplicity and consistency. The lengthy introductory period for balance transfers is an added advantage, allowing cardholders to save on interest fees.

If you’re looking for a card with rotating bonus categories, the Chase Freedom Flex℠ is a fantastic option. This card offers elevated rewards on specific purchases during certain periods, allowing you to maximize your cash back potential. Plus, the attractive welcome bonus adds to its appeal.

For students, the Discover it® Student Cash Back card is definitely worth considering. This card not only offers cash back rewards but also matches all the cash back earned in the first year. It’s a great way for students to kickstart their credit journey while earning valuable rewards.

Choose the Best Money Back Credit Card for You

When selecting the best credit card for cash back, it’s important to consider your individual spending habits and card needs. Each of these top money back credit cards has its own unique features and benefits, so be sure to assess the rewards rates, welcome bonuses, and any introductory offers to find the perfect fit for you.

Whether you prefer a flat rate, tiered-rate, or rotating category card, there is a best credit card for cash back that will help you maximize your rewards. Explore the options, weigh the pros and cons, and make an informed decision that aligns with your financial goals.

FAQ

What are cash-back credit cards?

Cash-back credit cards allow cardholders to earn a percentage back on eligible credit card spending. There are different types of cash-back cards, including flat-rate cards, tiered-rate cards, and rotating category cards.

How do cash-back credit cards work?

Card issuers offer cash-back rewards to incentivize card usage and generate revenue from transaction fees. To redeem cash back, cardholders can typically request a statement credit, direct deposit, or check. The amount of cash back earned depends on the card’s rewards rate and the cardholder’s spending habits.

What should I consider when choosing a cash-back credit card?

When choosing a cash-back credit card, consider the type of card that suits your spending habits, the rewards rate offered, any spending caps or limitations, annual fees, additional benefits, redemption options, and your creditworthiness and eligibility for the card.

What are some of the best money back credit cards of 2021?

Some of the best money back credit cards of 2021 include the Chase Freedom Unlimited® Card, the Citi® Double Cash Card, the Chase Freedom Flex℠, and the Discover it® Student Cash Back. These cards offer various cash back rewards and benefits.

How can I maximize my cash back earnings?

To maximize your cash back earnings, choose a cash-back credit card that aligns with your spending habits, offers a competitive rewards rate, and provides flexibility in redemption options. Additionally, make sure to use your card for eligible purchases and pay off your balance in full each month to avoid interest charges.