12 Dec

Top Cash Back Credit Cards for Good Credit – Invest Wisely!

Written By Dom Mia
December 12, 2023

Posted at 06:01h in Cashback, Home Blog 3 by Dom Mia

Cashback credit cards are a great way to earn rewards on your spending. These cards typically pay a percentage back on each transaction, usually between 0.25% and 1.25%, depending on the card and your spending. Cashback credit cards can be more appealing to some shoppers because they offer a simple and straightforward way to earn rewards. While the gains may seem slight, they can add up over time. For example, if you spend £12,000 in a year and earn 1% cashback on all your spending, you would earn £120.

Some cashback credit cards also come with generous sign-up bonuses and introductory offers, allowing you to earn even more cashback for a certain period of time. It’s important to be aware of any fees associated with the card and to pay off the card in full each month to avoid interest charges. Overall, cashback credit cards can be a great way to make your money work harder for you and start saving.

Key Takeaways:

Cashback credit cards offer a simple way to earn rewards on your spending
Make sure to be aware of any fees associated with the card
Pay off the card in full each month to avoid interest charges
Consider sign-up bonuses and introductory offers for even more cashback
Cashback credit cards can help you make your money work harder for you and start saving

Key Features:

Earn up to 5% cashback on spending during the first three months, up to £100
0.5% cashback on spending up to £10,000
1% cashback on spending beyond £10,000
No monthly or annual fees
Access to exclusive offers and discounts
APR of 25.7% if balance is not paid off in full each month

The Fidelity Rewards Visa Signature Card

The Fidelity Rewards Visa Signature Card is a highly recommended cashback credit card for individuals with good credit scores. With its straightforward cashback program and flexibility, it’s considered one of the best credit cards for cash back.

One of the key features of the Fidelity Rewards Visa Signature Card is that you can earn a generous 2% cashback on every eligible net purchase, with no limits on how much you can earn. This makes it an attractive option for those who want to maximize their cash back earnings on everyday spending.

What sets this card apart is its unique rewards redemption options. Unlike many other cashback credit cards, the Fidelity Rewards Visa Signature Card allows you to deposit the cashback you earn into up to five qualifying accounts of your choice. These accounts can include brokerage accounts, cash management accounts, and retirement accounts. This flexibility allows you to grow your savings while earning cash back on your purchases, making the Fidelity Rewards Visa Signature Card a popular choice for individuals who want to make the most of their credit card rewards.

Why Choose the Fidelity Rewards Visa Signature Card?

“The Fidelity Rewards Visa Signature Card offers a straightforward cashback program with the flexibility to deposit rewards into multiple accounts. It’s a great choice for individuals with good credit who want to earn cashback rewards while managing their finances wisely.”

While the Fidelity Rewards Visa Signature Card does not offer a welcome bonus, its simplicity and long-term benefits make it an attractive option for those looking for a reliable cashback credit card. The card’s interest rate is competitive at 19.24%, and it has a minimum transfer fee of $5 or 3% of the transfer amount, whichever is greater.

In summary, the Fidelity Rewards Visa Signature Card is a top choice for individuals with good credit scores who want to maximize their cash back earnings and have the flexibility to deposit rewards into multiple accounts. With its attractive cashback rate, competitive interest rate, and versatile rewards redemption options, it’s undoubtedly one of the best credit cards for cash back.

Nationwide Credit Card

The Nationwide Credit Card is a highly recommended option for those with excellent credit who are looking for the best cash back credit card. With its attractive features and benefits, this card offers great value and flexibility.

One of the standout features of the Nationwide Credit Card is its worldwide commission-free purchases. This means that wherever you are, you can use your card to make purchases without worrying about additional fees. Whether you’re shopping locally or traveling abroad, this card provides convenience and cost-effectiveness.

Another advantage of the Nationwide Credit Card is that it comes with no annual fee. This means that you can enjoy the benefits of cash back rewards without having to pay an extra charge each year. It’s a simple and straightforward way to save money while maximizing your spending power.

It’s important to note that the Co-operative Bank, which issues this card, was sold to international hedge funds in 2017, raising concerns about its ethical practices. However, if supporting ethical businesses is a priority for you, and you often shop at Co-op food stores, this card can be a good choice.

“The Co-operative Members Credit Card offers a fee-free way to earn cashback rewards on your purchases, particularly at Co-op food stores.”

With an interest rate of 18.2% and a 2.75% fee for purchases made abroad, it’s essential to use this card responsibly and pay off your balance in full each month to avoid interest charges. By doing so, you can make the most of the cashback rewards and take control of your financial future.

Conclusion

Cashback credit cards can be a valuable tool for those with good credit who want to earn rewards on their spending. By choosing the right card and using it wisely, you can make your money work harder for you and start saving.

The American Express Platinum Cashback Everyday Credit Card offers high cashback rewards and no annual fee, making it a popular choice. With this card, you can earn 5% cashback on all spending for the first three months, up to a maximum of £100. After that, you’ll receive 0.5% cashback on spending up to £10,000 and 1% cashback on everything you spend. It’s a great option for maximizing your cashback rewards without worrying about additional fees.

The Fidelity Rewards Visa Signature Card provides a straightforward cashback program with the flexibility to deposit your rewards into multiple accounts. With this card, you can earn 2% cashback on every eligible net purchase, with no limits on how much you can earn. This makes it a popular choice for those who want simplicity and flexibility in their cashback rewards.

If you’re looking for ethical and fee-free options, the Nationwide Credit Card and the Co-operative Members Credit Card are worth considering. The Nationwide Credit Card offers commission-free purchases worldwide and no annual fee. The Co-operative Members Credit Card rewards you with cashback for purchases made at Co-op food stores and elsewhere with a Visa symbol. While it’s important to note the concerns raised about the Co-operative Bank’s ethical practices, both cards provide additional choices for those who prioritize ethical considerations.

When choosing a cashback credit card, it’s important to consider your spending habits, credit score, and personal preferences. Additionally, always make sure to pay off your card in full each month to avoid interest charges. With the right card, you can optimize your earnings and take control of your financial future.

FAQ

Do cashback credit cards have annual fees?

It depends on the card. Some cashback credit cards have no annual fees, while others may have fees associated with them. It’s important to check the terms and conditions of the card before applying.

How do I earn cashback with a credit card?

Cashback credit cards typically pay a percentage back on each transaction. The amount of cashback you earn will depend on the card and your spending. You can earn cashback by using your card for everyday purchases, such as groceries, gas, and dining out.

How do I redeem my cashback rewards?

The redemption process for cashback rewards can vary depending on the card. Some cards may automatically credit your account with the cashback earned, while others may require you to request a redemption or have a certain minimum balance before you can redeem your rewards. Check with the card issuer for specific details.

Can I transfer my cashback rewards to other accounts?

It depends on the card. Some cashback credit cards allow you to transfer your rewards to other accounts, such as brokerage accounts or retirement accounts. This can be a great way to boost your savings or investments. Check with the card issuer for more information on transfer options.

Are there any limitations or restrictions on earning cashback?

Each cashback credit card may have its own limitations or restrictions on earning cashback. Some cards may have a maximum amount of cashback you can earn, while others may have certain spending categories that do not qualify for cashback. It’s important to read the terms and conditions of the card to understand any limitations or restrictions that may apply.

Are cashback credit cards worth it?

Cashback credit cards can be a great way to earn rewards on your spending. While the gains may seem slight, they can add up over time. If you are able to pay off your card in full each month and avoid interest charges, then cashback credit cards can be a valuable tool for making your money work harder for you and starting to save.