This is a guest post by Logan Abbott. Logan is the editor of MyRatePlan.com
Like usual, it feels like we just blinked and 2012 flew by and now we’re staring right at 2013. If you’re like me, you made some New Year’s resolutions, and you’re looking to get a jump on them early in the year. A close friend told me last week that his New Year’s resolution was to apply for a cash back credit card in order to start realizing some gains from his credit card spending. Knowing I was somewhat of a credit card expert, my friend asked me which cash back credit cards I recommended. Of course I helped him out, but it also gave me the idea to write a blog post outlining the top three cash back credit cards of the first quarter of 2013.
Here are the top three best cash back credit cards currently available:
- Discover it Card – The Discover it™ Card is a brand new cash back credit card from Discover launched just last week. Discover recently pulled their very popular Discover More Card off of the market, and the Discover it Card looks to be an improved version of the Discover More Card. The Discover it Card offers 5% cash back at restaurants and movies through the end of March on up to $1,500 in purchases, as well as 1% cash back on any other purchases. In addition, the Discover it Card requires no annual fee, and offers a $0 Fraud Liability Guarantee. Lastly, the Discover it Card offers a 0% Introductory APR on both purchases and balance transfers for a full 14 months. After the 14 months is up, the interest rate reverts to the variable purchase APR between 10.99% and 20.99%.
- Capital One Cash Rewards Card – The Cash Rewards Card from Capital One is the runner-up on my list of the best cash back credit cards. With the Capital One Cash Rewards Card, cardholders receive a $100 bonus if they make $500 or more in purchases in the first three months that they have the card. In addition, cardholders receive an additional 50% bonus on the cash back they earn throughout the year at the end of each year, as well as 1% cash back on all purchases. Finally, the Capital One Cash Rewards Card requires no annual fee, and offers a 0% Introductory APR on purchases and balance transfers until December of 2013.
- Blue Cash Preferred Card from American Express – The Blue Cash Preferred Card from American Express rounds out my list of the top cash back credit cards currently available. With the American Express Blue Cash Preferred Card, cardholders can earn 150 Reward Dollars when they spend $1,000 within the first three months that they have the card. In addition, cardholders receive 6% cash back at supermarkets, 3% cash back on gas and certain department stores, and 1% cash back on all other purchases. Cash back with the Blue Cash Preferred Card, however, comes in the form of Reward Dollars that can be redeemed as a credit on the cardholder’s statement. The card also has an annual fee of $75, which is why it is not higher on this list.