credit cards

6 ways to spoil your cash-back rewards

Picking the wrong credit card
Picking the wrong credit card © Temych/Shutterstock.com

If you earn cash back for traveling, you'd better not be a homebody. Or, if you use your credit card in all types of stores, don't sign up for a credit card that gives extra earnings for specific purchases only.

In both cases, you're not getting the most from your spending. There might be a card that better fits your habits.

"Understand how you spend, and then select a rewards card," says Bill McCracken, CEO of Synergistics Research, a financial services market research firm in Atlanta.

Some cards offer the same rewards potential for every purchase, while others offer accelerated earnings for certain categories.

The most common accelerated cash-back category is gas, followed by supermarkets/groceries and dining/restaurants, according to Bankrate's 2013 Credit Card Cash-Back Rewards Survey. But there are other, less common categories that may be better suited for your spending habits, such as utilities, parking and drugstores.

advertisement

Show Bankrate's community sharing policy
Advertiser Disclosure
Advertiser Disclosure

The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where and in what order products appear. This table does not include all companies or all available products.

          Connect with us
Product Rate Change Last week
Balance Transfer Cards 15.77%  0.06 15.71%
Cash Back Cards 16.48%  0.07 16.41%
Low Interest Cards 10.96%  0.10 10.86%
 
Search
advertisement
CARDS WEEKLY NEWSLETTER
Credit cards on a table

Get advice for managing credit cards, building your credit history and improving your credit score. Delivered weekly.

advertisement

Credit Card Blog

Jeanine Skowronski

Citi launches cash-back card

The bank is out with a new cash back credit card that rewards consumers for paying down their balances.  ... Read more

Partner Center
advertisement

Connect with us