Comparing Cash Back and Rewards Credit Cards
Using a credit card for everyday purchases, one that you strive to pay off each month, is a great way to build your credit. Unlike credit cards of the past, institutions today like Ameris Bank offer many types of options, including rewards credit cards. So, how can you compare credit cards to see which type of cash back or rewards card might be right for you? Let’s explore the benefits of each type of card.
Choosing a Cash Back Credit Card
Cash back credit cards are touted as the more straight-forward option. You spend money and you get a percentage of that back. At Ameris Bank, we offer a variety of cash back credit cards. When choosing the best cash back credit card for you, here are a few things to look out for:
- Cash back cards typically have small annual fees, if any.
- Cash back cards should have easy to understand redemption rates.
Cash back credit cards are ideal for the low-maintenance household. Most cards earn 1 cash back percentage point for 1 cent on the dollar but some earn as much as 5 percent cash back for purchases in specific categories like the Max Cash Preferred Visa Credit Card from Ameris Bank.
Choosing a Rewards Credit Card
Rewards credit cards can come in a variety of forms. Whether you earn airplane miles or hotel stays, or you accrue points to redeem items such as electronics and music, each has nuances to understand so you can determine which is the best rewards credit card for you.
- Some rewards credit cards come with large introductory spend-and-get cash bonuses, like the Everyday Rewards+ Visa Credit Card from Ameris Bank.
- Some rewards credit cards offer variable rewards based on the merchant category. For example, you can earn 3x points on certain purchase types and 1x points on others.
- It’s important to pay attention to the fine print regarding rewards redemption. Often, point values can change based on date or purchase type.
Cash back and rewards credit cards are extremely popular choices. Now it’s up to you to decide what your top priorities are, and then select the best credit card for you.
Take some time to explore our cash back and rewards credit cards and let us know how we can help you find the best card for you by contacting us today or visiting one of our bank branches.
Published July 2024
The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual.