4 Cash Back Cards to Help You Spend Less and Save More in 2018

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If your New Year’s resolution is to spend less and save more, a cash back credit card can help you meet your goals. These cards earn cash back on purchases, putting a little money back in your wallet every time you use your card.

If you choose the right card, you can save money and put a big dent in your annual spending. Here are four of our favorite cash back cards for spending less and saving more in 2018.

1. Citi Double Cash Card – 18 Month Balance Transfer Offer

Rewards: Earn 2% cash back:1% cash back on all purchases, with an additional 1% upon payment.
Sign-Up Bonus: None
Annual Fee: $0
Annual Percentage Rate (APR): 15.24% – 25.24% (Variable).
Why We Picked It: All purchases earn double cash back once they’re paid off.
For 2018: Every purchase automatically earns 1% cash back, with an additional 1% awarded upon payment. That means you have two compelling reasons to pay your balance off quickly: earning double cash back rewards and avoiding future interest.
Drawbacks: You must pay your purchases off to realize the full cash back value.

2. Alliant Cashback Visa Signature Credit Card

Rewards: 3% cash back on every purchase for the first year and 2.5% cash back thereafter.
Sign-Up Bonus: None
Annual Fee: $0 the first year, then $59.
APR:Variable 11.24% to 24.24% APR on purchases and balance transfers.
Why We Picked It: If you want the same flat cash back rate on every purchase, this card is just about unbeatable.
For 2018: For one year, every purchase earns an incredible 3% cash back rate. After the first year, that rate drops to 2.5%, which still beats most competing cards with a flat cash back rate.
Drawbacks: You must be a member of Alliant Credit Union to get this card.

3. Capital One SavorOne Cash Rewards Credit Card

Rewards: 3% cash back on dining purchases and entertainment; 2% cash back on grocery store purchases; 1% cash back on other purchases.
Sign-Up Bonus: $150 bonus cash if you spend $500 in the first three months.
Annual Fee: $0
APR: 0% APR for 15 months on purchases and balance transfers, then APR.
Why We Picked It: If food takes a big bite out of your monthly budget, this card can help you save.
For 2018: If you spend a lot on restaurants and entertainment, this card earns back 3% on every dining purchase. And if you decide to slash restaurant spending by cooking dinner at home more often, you’ll still earn 2% cash back at grocery stores.
Drawbacks: If you don’t spend much on food, there are better options.

4. Capital One QuicksilverOne Cash Rewards Credit Card

Rewards: 1.5% cash back on every purchase.
Sign-Up Bonus: None
Annual Fee: $39
APR: APR on purchases and balance transfers.
Why We Picked It: Consumers with fair credit can still get a great cash back rate.
For 2018: If you have fair credit, this cash back card is for you. It will earn a competitive 1.5% cash back rate on every purchase.
Drawbacks: The starting APR is high and there’s a $39 annual fee.

How to Choose a Card for Spending Less and Saving More

The best cash back credit card for you depends on how you spend. If your monthly expenses lean heavily toward certain purchases (such as gas or groceries), you should choose a card that rewards those purchase types. If you don’t mind hunting down deals, a card with rotating spending categories could give you the biggest bang for your buck. But if your spending is pretty random, a card with a flat cash back rate on every purchase might be the best bet.

If you’re looking to turn over a new leaf in 2018 and plan to use a rewards card to do it, make sure you’re ready for a credit card. While rewards can help you save money on everyday purchases, they can also get you in trouble if you rack up too much credit card debt. Like any other financial tool, credit cards must be used responsibly.

Compare the fees and APR of the cards you’re considering. Excessive fees and high interest rates can eat into the value of your cash back rewards.

What Credit Is Required for a Cash Back Card?

The best cash back cards require good or excellent credit, but people with fair or poor credit have options too. You should make sure you have a good chance of approval before you submit a credit card application, so it’s a good idea to compare your credit to the card’s credit requirements. You can check your credit score for free at Credit.com.

At publishing time, the Citi Double Cash Card, the Capital One SavorOne Cash Rewards Credit Card, the Discover it card, and the Capital One QuicksilverOne Cash Rewards Credit Card are offered through Credit.com product pages, and Credit.com is compensated if our users apply for and ultimately sign up for any of these cards. However, this relationship does not result in any preferential editorial treatment. This content is not provided by the card issuer(s). Any opinions expressed are those of Credit.com alone, and have not been reviewed, approved, or otherwise endorsed by the issuer(s).

Note: It’s important to remember that interest rates, fees, and terms for credit cards, loans, and other financial products frequently change. As a result, rates, fees, and terms for credit cards, loans, and other financial products cited in these articles may have changed since the date of publication. Please be sure to verify current rates, fees, and terms with credit card issuers, banks, or other financial institutions directly.

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