Top 5 Best Cashback Credit Cards For 2019!
Being a millennial in a world of financial challenges is downright painful at times – but don’t panic! We here at Net Worth Mogul have got you covered with our top 5 best cashback credit cards for 2019…so at least you know who you can trust for a good deal.
Getting Your Head Around Credit Cards
A credit card isn’t the same as a debit card, which is the one that you use to withdraw money at the ATM. A credit card allows you to borrow up to a certain limit of money to make purchases. While the baby boomers tried their best to avoid the use of credit cards (or ended up in terrible debt) these little plastic lifesavers aren’t the curse they used to be. If you’re interested in learning the difference between how baby boomers and Millennials use credit cards you can see this article from Experian.
Ideally, you use your credit card for everything. That’s right I said everything. What I didn’t say is carry a balance on that card. You want to use your credit card like a debit card and pay it IN FULL monthly. This way you wont be charged interest and you’ll benefit from these sweet cashback rewards we all should want. Why wouldn’t you want to get paid for buying something that you already needed? You were still going to eat dinner yesterday, whether you ate out or made it at home right? Why not get paid for it? Doing this not only gets you paid but it helps with the all important credit score we all need to raise. See this article by Nerd Wallet for more information.
Now that we have a bit of an understanding of why you might need a credit card, let’s look at some of the best ones: those that give you cashback on purchases to make spending worth your while!
The Top 5 Cashback Credit Cards in 2019
Credit Card Number 5: The Blue Cash Everyday Card from American Express
This card is a favorite for reasons of dependability. American Express have been around for a long time, have an established reputation and are a lot less likely to suddenly disappear off the map than lesser known companies. The Blue Card also gives you 3% cashback when used in the supermarket, which is a pretty good rate.
This card gives you cashback on up to $6000 of purchases per year, works in gas stations and supermarkets, as well as a few other places (actually, they have a huge acceptance rate by comparison to others), comes with no annual fee and even allows you to carry over a balance at the end of the month if you need to. They’ll add interest, of course, but they are a credit company, not a charity…
Credit Card Number 4: The Wells Fargo Cash Wise Visa Card
Another contender that comes from a reputable brand is the Wells Fargo Visa card. With the same lack of an annual fee, a low APR for the first year (when you can switch) and 1.5% cashback on purchases; what makes this credit card special is that it is best used for mobile purchases. For this reason it made our fourth spot with a word of caution attached: switch out that card when the APR starts to go up so you don’t get a surprise in your bill!
As well as being compatible with your mobile wallet Wells Fargo have their own online store that earns you greater rewards if you shop there. As an added bonus there is no time limitation on claiming back your cash.
Credit Card Number 3: The Citi Double Cash Card
With a little creative marketing the team at Citi would have you believe you earn double cash on each purchase with this card: once when you buy then once when you pay. Really the combined total is 2%, which makes it slightly better than the Wells Fargo and slightly worse than the American Express Blue.
The Citi Double has an 18 month 0% APR introductory package and a slightly better appreciation rate than the Wells Fargo when the period is up. Again there is no annual fee and cash back is earned on all purchases made with your card, which is a little less limited than the predecessors.
As well as the card you get a pass on your first late fee and access to the full range of tickets and VIP packages that Citi customers can expect. Not too shabby for those who like to get out and about.
Credit Card Number 2: The Capital One Savor Cash Rewards Credit Card
Capital One is a solid brand with a huge base and following in America. As well as the attraction of proof marketing they also have one of the most thoroughly reviewed cashback credit cards on the internet – and we here at Net Worth Mogul love it when companies put their dirty laundry on display and still come out shining bright.
With an intro bonus of $500 if you can spend $3000 in the first three months and 4% cashback on dining and entertainment, the Savor is a solid choice for any age group. You also get 2% at grocery stores and 1% on everything else. You don’t have an annual fee for that first year, but you also don’t get an introductory APR deal. If you are looking for a card to keep for years to come this might be it…
Credit Card Number 1: The Chase Freedom Cashback Credit Card
The reason the Chase Freedom made it to our top spot is that they go beyond giving you a card and letting you go play; they help give you a bit of financial guidance along the way by setting you up with your own personal cashback HQ. They have a 1% cashback rate but select certain categories for a 5% rate and change those categories quarterly… if you can learn to tailor your spending habits to their categories you stand to make the best amount of cashback possible.
There is no minimum reward for you to redeem, no expiration on those rewards and their card is accepted with special deals in association with Apple and Amazon. You can spend on travel and gift cards for extra interest and can even earn more rewards for shopping online… making the Chase Freedom the ultimate card for our generation.
As well as information about cash back credit cards we aim to provide a whole load of sound financial advice to the millennial generation. If that applies to you, and if finances get you a little hot under the collar, then bookmark our page and check back in regularly for more easy to understand advice. In the meantime spend savvy, and don’t get suckered with high APR rates from the outset.