This Is Why You Should Use Cash Back Credit Cards!

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Still relying on classic credit cards? What if we told you that it’s time for a change?

Over the past years, cash back credit cards have changed a lot, but a lot of people are still not aware of their full benefits!

According to 6abc, citing a survey conducted back in 2016, more than 20 million consumers have never changed their favorite credit card, resulting in losing the chance to earn some nice amounts of money.

Americans like their classic cards!

Specifically, U.S. citizens are following some type of routine, more than 25 million of them using the same type of credit card for over 10 years now. Of course, this type of loyalty has some type of benefits, but you can never compare it to cash back credit cards.

Currently, just half of the credit cards that offer rewards also have the cash back option, but this is still not an impressive number, considering that it grew just by 25 percent since 2013.

“While you’re typically looking at 1 or 2 percent back, some cards can go as high as 6 percent cash back on certain purchases. And the consumer usually gets to choose how they want to redeem their reward,” said Margot Gilman, editor for Consumer Reports Money.

Why not use two cards for earning cash back?

If you’re already using a cash back credit card, you can double your effort and earn even more. Right now, there are cards offering rewards for purchases in different categories, so you might as well use two of them, strategically, ending up earning even with 40 percent more cash back.

For example, you can use a card to earn a percent back on groceries, as well as gas, like the Blue Cash Preferred Card. Also, you can have a secondary card, to get another percent back on all other purchases, like the Citi Double Cash Card.

In the end, it’s all up to you to decide which of these cards actually work best for you and your wallet.

Of course, it’s worth mentioning that cash back programs work just for those who pay their balance in full. Otherwise, they will rack up more in interest charges than you will earn in rewards!

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