Description: The article will cover the information about the top four citi double credit cards for cash back which offer a higher cash back rate and have an annual fee. We may see two rules for cash back credit cards.
Today I will analyze the top four credit cards for cash back, these credit cards offer a higher than average cash back rate and they don’t have an annual fee.
Let me tell you that the cash back is real, I got more than three hundred dollars in cash back last year, before we go further, let me tell you the two rules for cash back credit cards.
The first rule is that you don’t buy stuff, if you don’t have to because you are getting a 2% cash back, what you are doing is spending ninety-eight percent of the money that you didn’t have to. I may or may not be the best example to follow, but I like to think that I needed all this stuff.
The second rule is that you don’t carry a balance with these credit cards, the APR on these credit cards is very high, if you usually carry a balance, it is better to do that with your local credit union card.
The reason is simple, the APR is much lower in my case, it is almost hard enough about introduction.
Let’s see the top four credit cards, we have the chase freedom unlimited, the city double cash, the HSBC cash rewards and the Wells Fargo cash wise, the Wells Fargo offers you the highest initial bonus and the city offers you no bonus.
The HSBC offers you the regular one hundred and fifty dollar bonus, but it has no international fee, the rest of the cards have a three percent FIFA international purchases.
Let’s see how these cards perform over time, if we spend $1,000 per month, we will take into account the initial bonus, you will need to spend certain amount to get the bonus.
As we saw in the previous slide and the winner in this case is the HSBC cash rewards, the bonus is not that big to start, but the 2% promotional rate on the first six months and extra 10% cashback per year on the cashback accumulated that year, but sit ahead of the rest notice that the city has the highest cash back rate.
Since it doesn’t offer an initial bonus, it has a slow start, let’s see other scenarios with fifteen hundred and two thousand dollars per month and surprisingly the HSBC comes ahead again.
I would consider a one-year to be short term and two years to be long term with that in consideration, the HSBC is the best short and long term credit card so far of 2018.
It gets extra bonus points for being the only credit card here, that doesn’t have an international fee, HSBC notice that at some point, the higher cashback rate of the city will make it the winner, but it will take longer or a bigger monthly statement.
I almost forgot there is an honourable mention to the new papal cash back, but it didn’t offer anything different than the city.