Best Cash Back Credit Card Deal

 

I just got my first cash back check in the mail from Chase Bank.  What a deal!  Cash back for simply buying stuff!

The back-story: About 6 months ago, I was on a mission to find the best cash back credit card deal.  I searched long and hard.  For me, I wanted the cash back reward benefit.  I was not interested in any other rewards programs.  I was not interested in earning airline miles, money toward a car, credit at a big-box retailer, or investing in a college fund.  I simply wanted cash back for my purchases.

My search came down to 2 different credit cards.  The American Express Blue Cash card and the Chase Freedom card. 

1. The Amex card offered 5% cash back on "common purchases" (Supermarket, Gas, Drug store) and 1.5% cash back on all other purchases.
2. The Chase Freedom card offered 3% cash back on "common purchases" (Supermarket, Gas, Drug store) and 1% cash back on all other purchases.

There was a Discover card that offered a similarly attractive cash back program, but not all retailers take Discover, so I passed on the Discover card.

I already had a long used Amex card, so I was ready to commit to the American Express Blue Cash card until I read the fine print.  The advertised rates were only available after you spent $6,500 (per year) on the card.  Not knowing if I was disciplined enough to charge $6,500 per year, I passed on the Amex Card. ...Amex only gives you a 1%/.5% cash back deal on less than $6,500 per year.

So I went with the Chase Freedom Visa card.  This was clearly the best deal for me.  It had the highest cash back rate for my types of purchases and as I've found, the redemption process is super simple.  Simply ask for your money on the Chase website, and within days you'll have a check mailed to you.

Related Links:

• The best credit card rewards comparison site I found was CreditCards.com.
• Want a Chase Freedom Visa Card?  Go to the Chase Freedom Visa Card site.
• Want to keep on eye on your credit?  Check out my article on getting a Free Credit Report.

Keep in mind, for credit card cash back deals to work well, the trick is to pay off your credit card balance each month.  If you are looking for a credit card and want to carry a balance each month, there are much better non-reward cards available.