Best unlimited cash-back credit cards are an excellent way to get rewarded for your everyday spending. Unlike traditional credit cards that offer limited cash-back rewards or rewards that require you to redeem your points, an unlimited cash-back credit card provides cash-back rewards without restrictions, caps or expiration dates. To get the best out of an unlimited cash-back credit card, you need to know how to choose the right card, use it properly, and maximize your rewards.
Assess Your Spending Habits and Needs
Before choosing the best-unlimited cash-back credit card, you need to assess your spending habits and needs. For example, if you travel frequently, a card that offers rewards on travel expenses could be a better choice for you than a card that provides cash back on everyday purchases.
Additionally, it would help if you looked for a card that offers a good balance between cash-back rewards and fees. For example, some cards may offer higher rewards but also have a higher annual fee, so you’ll need to weigh the costs against the benefits.
Compare Cash Back Rates and Categories
Once you’ve assessed your spending habits, you can compare cash-back rates and categories. Different cards offer rates for different spending categories, such as gas, groceries, dining, and travel.
Some cards offer a flat cash-back rate for all purchases, while others offer higher rates for specific categories. For example, consider which spending categories you’re likely to make the most purchases in and choose a card that rewards those categories well.
SoFi experts say, “See how good it feels to earn two percent unlimited cash-back on your every purchase.”
Look for Sign-Up Bonuses
Many unlimited cash-back credit cards offer sign-up bonuses to new cardholders. These bonuses can be a great way to boost your rewards, so it’s worth considering cards that offer these bonuses when comparing your options.
Keep in mind, however, that the bonus will only be available for a limited time, usually within the first year of having the card, so you’ll need to make the most of it while it lasts.
Check for Additional Benefits
In addition to cash-back rewards, many unlimited cash-back credit cards also offer additional benefits, such as extended warranty protection, travel insurance, or purchase protection. When choosing a card, look for one that offers benefits that align with your needs and spending habits.
For example, if you’re a frequent traveler, a card that offers travel insurance could be a good choice for you.
Consider the Card’s Annual Fee
Finally, you should consider the card’s annual fee. While some unlimited cash-back credit cards don’t have an annual fee, others do. If you choose a card with an annual fee, ensure the rewards and benefits are worth the cost.
Additionally, consider whether the card offers any waived annual fees for the first year, which can be a great way to try out the card without paying the full fee upfront.
An unlimited cash-back credit card can be an excellent way to get rewarded for your everyday spending. To get the best card for your needs, assess your spending habits, compare cash-back rates and categories, look for sign-up bonuses, check for additional benefits, and consider the card’s annual fee. With the right card, you can maximize your rewards and enjoy the benefits of an unlimited cash-back credit card.