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Cash Reward Card - Selecting a Cash Reward Card - Discover Card, The Citi Dividend Platinum Select, Chase Freedom

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There are so many different credit cards these days that finding a good cash reward card can seem like a very confusing plan. Many companies offer a cash reward card, although they also may offer other kinds of credit cards, so it is important to understand exactly what you are signing up for. Customers who specifically want a cash reward card will want to be sure that they are not being duped into signing up for a different kind of credit card. Here are the three best cash reward cards as rated by consumers.

Discover Card

When in doubt, it helps to go back to one of the original credit cards that offered a cash reward. Back when all the other credit card companies were only offering frequent flyer miles, Discover card was already offering cash back rewards. The card comes with a 0 percent APR for the first year and then a regular APR of 12 to 21 percent, depending on your credit rating. There are also little perks, like customers who make $500 in purchases in three months get $100 cash back. Also each month has different types of businesses that earn extra cash, like an extra five percent cash back in restaurants, grocery stores, or department stores. This cash reward card has no annual fee, but it does require very good credit in order to get it.

The Citi Dividend Platinum Select

Consumers who do not have a perfect credit score might want to check out the City Dividend Platinum Select card. You still need to have a pretty good credit rating, but not as good as you would need to get the Discover card. This cash back card starts with a 0 percent APR, which only lasts for two months, and then the regular APR of 18 to 21 percent kicks in. It is a variable rate, which means it will change from month to month. Usually consumers get up to five percent cash back on purchases at grocery stores, gas stations, and pharmacies. Consumers can choose to redeem their cash back for credit on their statements, gift cards, or even some merchandise. There is no annual fee associated with this card.

Chase Freedom

Another very excellent cash reward card is the Chase freedom Visa. This card automatically grants consumers a $50 bonus the first time they use it to make a purchase. The introductory APR is 0 percent for a year for balance transfers and 0 percent for six months on purchases. The regular APR is around 12 percent, but it is variable, so it will also change from month to month. Consumers can earn 1 percent on all of their purchases, with a five percent quarterly bonus on purchases at gas stations, home improvement stores, and department stores. Shopping online even earns consumers an extra 10 percent cash back at some merchants. There is no annual fee for this card, and consumers do need an excellent credit rating in order to be eligible for the Chase Freedom Visa card.

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