Those who pay their credit card balances on time and in full each month  should be using a rewards credit card. Although many cardholders enjoy their rewards in the form of loyalty points such as frequent flier miles, cash back remains the most popular type of rewards card.

Unfortunately, while cash back rewards can seem like a simple concept, there are dozens of cash back reward cards being offered by nearly every bank.  Among all these cards are three basic types of cash back rewards.

Fixed Rate Cash Back Credit Cards

The simplest types of cash back credit cards are those that offer a fixed rate of return on all purchases. These cards typically offer between 1% and 2% cash back. Once cent per dollar spent is the most common rate of return, and it represents the minimum that any reward card holder should expect. Continue Reading »

Chase Freedom cardholders, particularly those with large gas station bills, will likely be quite pleased with 2012′s Chase Freedom 5% cash back reward categories. While there are a handful of differences between the 2012 schedule and that of last year, 5% cash back categories are probably easier for many to max out this year.

First Quarter: Beginning January 1st and running until March 31st, cardmembers earn 5% at gas stations and on purchases made at Amazon.com. Because 5% cash back can be earned on up to $1,500 of spending, an individual or family that spends $125 a week on gas can max out rewards during this quarter.

Second Quarter:  From April until June 30th, cardmembers earn 5% cash back at grocery stores and movie theaters. This is generally the easiest quarter to max out, as most families can easily spend the $125 a week on groceries (though a couple would need to see about 50 movies during this period to max out earnings on movie theater purchases). Continue Reading »

Chase’s Southwest Airlines Rapid Rewards Plus credit card has undergone a number of makeovers during the past year. The latest rendition of the Southwest credit card provides applicants with a very respectable 25,000 Rapid Rewards point sign up bonus worth slightly more than $400 in Wanna Get Away Fares as well as all the standard reward features consumers have come to expect from airline credit cards.

Southwest Credit Card Benefit Overview

Approved applicants who make a single purchase obtain the aforementioned 25,000 Rapid Rewards point bonus. The points have a value of 1.7 cents each when used for Wanna Get Away fares and can thus be used to purchase a round-trip flight comprised of two one way $200 tickets. Given that it is often possible to get Wanna Get Away fares for as low as $50, these points could theoretically be enough for four flights.

Apart from the sign-up bonus, card-members earn 2 Rapid Rewards points for every dollar spent on Southwest Airlines purchases in addition to rewards earned from flying. Given the value of the points, this equates to a 3.4% discount on Southwest flights. Everyday purchases earn a straight one point per dollar, the equivalent of a 1.7% discount on all purchases. Continue Reading »

December may be the time for shopping, but consumers will find that the best credit cards offering 0% balance transfers this month can provide significant long term savings. Many of these credit card offers also come with 0% interest rates on purchases that can reduce the cost of buying holiday gifts on credit.

Presently, the longest 0% APR credit card deals offer 0% interest rates lasting 21 months on both purchases and balance transfers. These credit cards can help consumers who would be racking up debt on high interest credit cards from having to pay a balance transfer fee down the road while saving them money on current balances.

Best 0% APR Credit Cards for Shoppers and Balance Carriers

Citibank presently offers a trio of 0% APR balance transfer credit cards that also offer 0% interest rates on purchases. The longest of these offers are available on the Citi Platinum Select and Citi Diamond Preferred cards. Both cards provide a 0% rate for 21 months. A third card, the Citi Dividend, offers a shorter 15 month 0% APR on balance transfers and purchases, but also provides a $100 cash back bonus to consumers who spend $500 within three months. Continue Reading »

Many Americans are obsessed with finding a good deal, especially during the holiday season. The desire to save money manifests itself in all sorts of ways, including the frenzy that surrounds Black Friday and Cyber Monday sales. Not to be left out, major credit card issuers are offering their own holiday specials on reward card redemptions. This year, Chase is offering a variety of discounts to members of it Ultimate Rewards program.

What Chase Is Offering

Chase has several holiday promotions that many of its cardholders can take advantage of.  Throughout the holidays, Chase credit card rewards card-holders can earn up to 10 extra Ultimate Rewards points per dollar spent at featured merchants in the Ultimate Rewards mall. Other promotions occur only on a single day where purchases can receive as many as 20 bonus points per dollar or even more. Continue Reading »

It has gotten difficult to watch TV and not see a Chase Freedom rewards card commercial. The recent marketing onslaught, which shows consumers opting for the largest cash back credit card getting pummeled by quarters, is a not so subtle attack on Discover. Nevertheless, it does highlight the key differences between the Chase Freedom card and competing cash back cards that advertise, but fail to deliver in the cash back rewards arena.

Chase Freedom Cash Back Rewards Overview

The Chase Freedom card’s cash back rewards program is among the best available and Chase backs this up by offering applicants massive sign up bonuses. At present, the Chase Freedom $200 promo is the largest, but there is also a Freedom card with a $100 bonus as well as a third version with a $50 bonus. While the promotional bonuses attached to these offers vary, the underlying Freedom rewards program is the same. Card-holder’s earn 1% cash back on all purchases, plus 5% cash back on up to $1,500 of purchases in categories that rotate four times a year. Apart from the limits on Freedom’s 5% cash back reward categories, there is no annual limit on cash back earnings. Continue Reading »

Although consumers are typically more focused on spending money than saving money with balance transfers during this time of year, credit card companies continue to aggressively pursue new consumers with 0% balance transfer offers. This November, Chase unveiled a 0% APR no fee balance transfer version of Chase Slate. This is the first such offer made available by a major bank since February. Meanwhile, Citibank and Discover continue to offer 0% rates on balance transfers and/or purchases lasting up to 21 months.

Consequently, November is a good time for consumers to preemptively take advantage of 0% APR credit cards in the event the market deteriorates following the holiday season. Given the large number of cards offering 0% rates on purchases as well as balance transfers, utilizing this type of credit card now can also help eliminate the need to pay a 3% transfer fee on balances accrued during the holidays on high rate cards if a 0% card is needed down the road.

Average 0% Offer Durations & Fees in November

As a result of the introduction of the Chase Slate no fee balance transfer offer, average balance transfer fees fell to 3.1% this month, down from 3.26% in October. However, because the Slate card offers a relatively short introductory period that lasts either 6 or 12 months, the average length of 0% offers also declined slightly from 12.16 months to 12.08 months.

Compare November’s Best Balance Transfer Offers Continue Reading »