I found an excellent article about cash back credit cards in Newsweek. It’s a short article giving some basic tips on credit card usage and how to earn the most cash back from different cards. In the article it lists the percentage you earn from purchases and why you should use that card. I’m going to lists the cards that were mentioned in the article. We also have reviews on many of the cards on our website.
American Express Blue Cash
Offers a 0.05% reward until you spend $6,500, afterwards the reward is 5% on purchases made at grocery stores, and 1.5% on purchases made everywhere else. This card has no rebate cap.
HSBC Direct Rewards MasterCard
Offers 5% made on purchases from gas stations, grocery stores, and drugstores. They might change their rewards in the near future though.
Chase PerfectCard Visa
Offers 6% rebate on gas station purchases for the first 90 days and 3% afterwards. Plus you receive your reward every month!
Chase Home Improvement Rewards Visa
Earn 3% at all hardware stores, but it has a $300 rebate limit.
Citi Dividend MasterCard
This card is changing its rate from 5% cash back to 2% on everyday purchases. It’s also adding utilities and convenience stores to its list of available rebate purchases. Another nice feature is you can set this card to automatically pay your phone, cable, and water bill.
Costco/American Express True Earnings Card
This credit card is free for Costco members; you earn 3% on meals, 2% off travel, and 1% off every other purchase. Plus there is no maximum rebate.
Citi Premier Pass MasterCard
Earn one point for every dollar your spend and one point for every three miles you fly. You may spend your points on airline tickets.
Capital One No Hassle Miles Rewards
Earn 1.25 miles per dollar. Miles can be redeemed from any airline. They also don’t have any additional fees for purchases made in foreign currencies.
If you get the Newsweek magazine the article can be found in the September 11, 2006 edition. It is Volume CXLVIII, No. 11. The article is on page 60 in the Money Guide section. You can also find the article at newsweek.com by searching for, “playing your cards right”.
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