Yes, 1.5% cash back is good for a credit card's rewards rate. A 1.5% cash back rate is much higher than the average cash back rewards rate among credit cards, and it should be the starting point for anyone in the market for a flat-rate cash back card. The best 1.5% cash back credit card is Capital One Quicksilver.
Cash back rewards operate on a percentage basis. An example: If you have a card with a purchase rewards rate of 1.5% and you make $100 in purchases, you would earn $1.50 in cash back.
Typically, the 1.5% cash back is unlimited, meaning you continue earning 1.5% back whether your annual spending on the card is $5,000 or $50,000. If a card you're considering caps its 1.5% earnings at a certain dollar amount that you're likely to hit, consider a different card.
The Ink Business Cash® Credit Card and the Ink Business Unlimited® Credit Card are cash-back cards with no annual fee and different rewards structures. The Ink Business Preferred® Credit Card is more of a travel card. It earns points, has an annual fee of $95 and includes more benefits. See our comparison article.
For most consumers cash back credit cards will provide more value than a standard airline miles credit card. ... Airline credit cards, on average, provide much better short-term value, while cash back cards are better long-term.
Cash back is flexible and easy to redeem. Points or miles dangle the possibility of a paid-for vacation and, sometimes, a higher reward value per dollar spent. Nowadays, some cards let you redeem rewards for cash or travel at the same value. ... “If you don't want to work at it, cash back is the easy decision.
Earn cash back for every purchase Earn 5% cash back on up to $1,500 on combined purchases in bonus categories each quarter you activate, Earn 5% cash back on travel purchased through Chase, 3% on dining including takeout and drugstores, and 1% on all other purchases.
When a rewards program or credit card is offering 1.5% cash back, it means that for every $1 you spend you will earn 1.5 cents ($0.015) in the form of cash back. You can calculate 1.5% cash back multiplying 0.015 by the amount you plan on spending.
When merchants accept payment via credit card, they are required to pay a percentage of the transaction amount as a fee to the credit card company. If the cardholder has a participating cash back rewards program, the credit card issuer simply shares some of the merchant fees with the consumer.
NerdWallet's Best Cash Back Credit Cards of May 2021
The best cash back credit cards are cards that give at least 1.5% cash back on purchases, along with $0 annual fees, initial bonus offers, or 0% APR promotions. Some of the best cash back credit cards offer the same cashback rate on all purchases, while others provide bonus cashback in certain purchase categories.
The short answer: you should have at least two – ideally each from a different network (Visa, Mastercard, American Express, Discover, etc.) and each offering you different kind of rewards (cash back, miles, rewards points, etc.). How many credit cards is too many?
Yet No Comments