Mastercard Cash Back Credit Card Benefits and Features Explained

Mastercard cash back credit cards offer a range of benefits that can help you earn rewards and save money on your purchases.

You can earn up to 5% cash back on certain purchases, such as groceries or gas, depending on the specific card you have.

Some cards also offer a sign-up bonus, which can be a significant amount of cash back or other rewards.

To maximize your cash back earnings, it's essential to understand the different features and benefits of your Mastercard cash back credit card.

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Cash back credit cards can be a great way to earn rewards on your purchases, but there are some things to keep in mind.

You won't get cash in your hand at the point of purchase like you can with a debit card, so don't expect to be able to redeem your cash back right away.

Cash back rewards are stored in your credit card account until you redeem them for things like discounted shopping, a statement credit, or a gift card.

Some cash back cards have a flat-rate reward structure, where you get the same cash back percentage across all shopping categories, while others have different rewards structures for different categories.

You can earn up to 8% on every purchase with a cash back credit card, as long as you pay off your balance in full each month and the annual fee doesn't offset the rewards you earn.

Here are some key things to know about cash back credit cards:

If you're considering a cash back credit card, make sure to check the terms and conditions to see how the rewards structure works and what kind of cash back percentage you can expect to earn.

Tiered Category cash back cards offer higher cash back percentages on specific types of purchases. These cards have tiered rates, with higher rewards on certain categories, like gas or groceries.

For example, the Blue Cash Everyday Card from American Express lets you earn 3 percent cash back at U.S. supermarkets, U.S. gas stations, and U.S. online retail purchases on up to $6,000 per calendar year in each category.

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Spending $6,000 at U.S. supermarkets in a year can earn you $180 in cash back rewards from grocery shopping. You can earn rewards from gas station and U.S. online retail purchases, as well as 1 percent cash back on the rest of your purchases.

These tiered categories sometimes have spending limits, causing the category rewards to drop down to 1 percent once that limit is reached. All other purchases generally earn 1 percent cash back.

Some cards rotate their highest-earning cash back categories every quarter or allow you to choose and change your bonus categories. This can give you more flexibility and opportunities to earn higher rewards.

You can use your Mastercard cash back credit card in a variety of ways to get the most out of your rewards. Some popular redemption methods include statement credits, online shopping, and gift cards.

You can also deposit your cash back directly into a bank account or use it to make a charitable donation. Certain cards even offer the option to use your cash back to book travel through the issuer's online portal.

Make sure you understand all the ways your credit card allows you to redeem your cash back rewards, as some cards may earn rewards in the form of points that can be combined and redeemed for travel or transferred to travel partners.

You can use your cash back rewards in various ways, such as statement credits, online shopping, and gift cards. Certain cards even allow you to deposit your cash back directly into a bank account or use it for a charitable donation.

Some cards offer the option to book travel through the issuer's online portal, and you can also connect your cash back rewards to PayPal or Amazon.com to cover part or all of your purchase.

Make sure you understand how your credit card allows you to redeem your cash back rewards, so you can put every dollar to good use.

Traveling with your card can be a breeze, especially if you're aware of the benefits it offers. Many hotels and resorts now accept digital payments, making it easy to settle your bill without needing to exchange cash or use an ATM.

You can also use your card to book flights and accommodations online, often with rewards and discounts available for loyal customers. The card's rewards program can even provide you with free travel upgrades or perks.

Before traveling abroad, it's essential to inform your bank about your travel plans to avoid any issues with your card being flagged as suspicious activity. This can help prevent your card from being frozen or declined at the point of sale.

In some countries, you may encounter foreign transaction fees, but this can be mitigated by choosing a card that doesn't charge these fees. This way, you can enjoy your trip without worrying about extra costs.

Remember to always have a backup plan, such as a credit card or cash, in case your primary card is lost or stolen. This can help you avoid any financial difficulties during your trip.

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The Citi Double Cash Card has a balance transfer fee of 3% of each transfer ($5 minimum) for transfers completed within 4 months of account opening, increasing to 5% after that. This fee applies to balance transfers.

You'll also pay a foreign transaction fee, but this card is one of the best cash-back credit cards overall, offering 2% cash back on every purchase. This translates to unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.

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Here's a breakdown of the card's fees and benefits:

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Our team of experts is made up of credit card pros, data analysts, and people who shop for credit cards just like you. We keep close tabs on the credit card industry year-round to ensure that our information is up-to-date and reliable.

We focus on the things that matter most to consumers, including rewards, welcome offers and bonuses, APR, and overall customer experience. Any issuer discussed on our site is vetted based on the value they provide to consumers at each of these levels.

We fact-check ourselves to prioritize accuracy, so you can trust that the information you're getting is reliable. By doing so, we can continue to be here for your every next, providing you with the guidance and support you need to make informed decisions about your credit cards.

Curious to learn more? Check out: Why Are Interest Rates so High on Credit Cards

Flat-rate cash back cards are a great option for those who want a straightforward rewards system. You earn the same percentage of cash back on every qualifying purchase, regardless of where you shop.

The Wells Fargo Active Cash Card offers a high rate of 2% cash back on all purchases, which is a rare find. However, a more common rate is 1.5% cash back, as offered by the Capital One Quicksilver Cash Rewards Credit Card.

Earning 1.5% cash back on all purchases translates to $15 in cash back for every $1,000 spent. This can add up quickly, making it a great option for those who want a simple and consistent rewards system.

Here's a comparison of the cash back rates offered by some popular flat-rate cards:

Keep in mind that these rates are subject to change and may not be available at all times. It's always a good idea to check with the card issuer for the most up-to-date information.

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If you're looking for a Mastercard cash back credit card, you've got plenty of options to consider. Bank of America, for example, offers a range of cards with cash back rewards.

You can choose from rotating-category cards, which offer high rewards in everyday and seasonal categories. These cards also give you the opportunity to strategize for maximum rewards.

For a more hands-on approach, consider a choose-your-own-category cash back card. These cards let you select your own bonus cash back category from a list of options.

The Bank of America Customized Cash Rewards credit card, for instance, lets you choose one of several rewards categories in which to earn 3 percent cash back. You can also earn 2 percent cash back at grocery stores and wholesale clubs.

Alternatively, the Citi Custom Cash Card takes the manual selection process out of the equation with an automatically optimized rewards system. You'll earn 5 percent cash back on your top spending category each billing cycle.

Some popular banks that offer Mastercard credit cards include Bank of America, Barclays, Capital One, Chase, Citibank, U.S Bank, and Wells Fargo.

Additional reading: Bilt Mastercard Credit Card News

If you're looking for a Mastercard cash back credit card, consider the Capital One Savor Cash Rewards Credit Card. It offers a 0% introductory APR for 15 months on purchases and balance transfers, plus 1 - 8% cash back on all purchases.

You can also earn an initial bonus of $200 for spending $500 in the first 3 months. However, be aware that the card has a high APR of 19.24% - 29.24% (V), and a balance transfer fee of 3% for the first 15 months.

For people with fair credit, the Citi Double Cash Card is a great option. It offers a 0% introductory balance transfer APR and earns a total of 2% cash back on all purchases. New cardholders can also take advantage of a $200 initial bonus offer for spending $1,500 in the first 6 months.

Here are some popular banks that offer Mastercard credit cards:

Cash back credit cards are a great option for those who want a straightforward rewards system. They offer a percentage of cash back on every qualifying purchase, unlike other rewards credit cards that give you a set number of points or miles.

Some cash back cards offer a flat cash back percentage, while others offer higher rewards for certain categories of purchases. This can be a great perk if you frequently make purchases in specific areas, such as dining or gas.

Cash back rewards can be redeemed for statement credits, converted into online shopping credits, or deposited directly into bank accounts. It's up to you to decide what to do with your cash back once you've earned it.

Related reading: What Doeswells Fargo Cash Back Credit Offer

The Citi Double Cash Card is a great option for those with fair credit, offering 2% cash back on all purchases - 1% when you make a purchase and another 1% when you pay for that purchase. This card also provides a 0% introductory balance transfer APR, which can help reduce the cost of high-interest debt.

You can earn a total of 2% cash back on all purchases, making it a great option for those who want to earn above-average rewards on all purchases without worrying about how those purchases are categorized.

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New cardholders can also take advantage of a great initial bonus offer: $200 for spending $1,500 in the first 6 months. However, be aware that there is a balance transfer fee of 3% intro fee ($5 min) for each transfer in the first 4 months, after that 5% ($5 min) for each transfer.

To avoid interest charges, it's essential to pay in full when the regular rate is in effect, as the card's regular APR is pretty high.

Here's a quick summary of the Citi Double Cash Card's key features:

Fair Credit is crucial for responsible credit card management.

The Citi Simplicity Card has a 21-day late fee, which is waived if you pay your bill on time.

If you're struggling to make payments, consider reaching out to your credit card issuer for assistance.

The Discover it Chrome Card doesn't charge foreign transaction fees, making it a great option for international travel.

The Chase Freedom Unlimited Card offers 0% intro APR for 15 months, which can save you money on interest charges.

Keep an eye on your credit utilization ratio to avoid negatively affecting your credit score.

The First Progress Platinum Secured card is a great option for those looking to build credit. It offers 1% cash back rewards.

If you're looking for a more affordable option, consider the First Progress Select Card, which has a lower annual fee of $39.

You can earn 1% cash back rewards with the First Progress Select Card, making it a great choice for those who want to earn rewards while building credit.

First Progress Secured offers a range of credit cards that can help you rebuild your credit.

The First Progress Platinum Select Mastercard Secured Credit Card has an annual fee of $39 and offers 1% cash back rewards.

If you're looking for an even lower annual fee, consider the First Progress Select Card, which also offers 1% cash back rewards.

The First Progress Platinum Prestige Mastercard Secured Credit Card has a slightly higher annual fee of $49, but still offers 1% cash back rewards.

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Here's a quick comparison of the two cards:

You can choose the First Progress Select Card for a lower annual fee, or opt for the First Progress Prestige Card to start rebuilding your credit.

When staying in a hotel, it's essential to consider the card's rewards and benefits.

The Hotel card from a popular rewards program offers 5x points at participating hotels and resorts worldwide.

With this card, you can enjoy a free night's stay after spending $5,000 in the first 3 months.

Hotels like the Ritz-Carlton and Marriott properties are among the many partners that participate in this rewards program.

You can earn points on gas stations, grocery stores, and restaurants, but not on purchases made at hotels.

The Hotel card also offers a $100 credit towards travel purchases within the first 3 months.

Curious to learn more? Check out: Chase Sapphire Reserve Hotel Partners

To find the best Mastercard cash back credit card, WalletHub's research compared various options.

Popular banks that offer Mastercard credit cards include Citi and Capital One.

These banks offer a range of credit cards with different benefits and features, such as cash back rewards and no annual fee.

Here are some of the top Mastercard cash back credit cards compared by WalletHub:

Cash back sites and apps can be a great way to earn some extra money on your purchases. You can earn cash back on qualifying purchases through these apps, browser extensions, and websites. They often let you compare prices, set price drop alerts, and search for coupon codes.

Some popular cash back sites include Rakuten, Dosh, and Ibotta. These services connect you with cash back deals at top retailers, hotels, and restaurants. You can link your debit and credit cards to these apps to earn cash back.

To maximize your rewards, use a cash back credit card to pay for your purchases. This way, you'll earn cash back both through the credit card and the app. For example, Rakuten has deals with over 3,500 top retailers, including Walmart, Target, and Old Navy.

You can accumulate cash back earnings on these services and transfer them to a financial service like PayPal or your bank account. Some apps, like Dosh, allow you to transfer rewards when your balance hits $15, or even donate to charity.

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WalletHub's research team put in the effort to compare and analyze popular Mastercard credit cards. They considered various features, such as rewards, welcome bonuses, and APR rates.

To make their comparison, WalletHub analyzed popular Mastercard credit cards available in the U.S. They looked at factors like rewards, welcome bonuses, introductory and standard APR, balance transfer fees, and foreign transaction fees.

WalletHub also considered additional perks, the application process, and how easy it is for the consumer to redeem points. This comprehensive approach helps consumers make informed decisions when choosing a credit card.

Some of the popular banks that offer Mastercard credit cards include those that WalletHub researched and compared. These banks offer a range of credit cards with different features and benefits.

If you're interested in learning more about Mastercard credit cards, WalletHub's research provides a wealth of information. You can find detailed comparisons, expert opinions, and user questions and answers on their website.

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Here are some key features that WalletHub considered when comparing Mastercard credit cards:

This list highlights the factors that WalletHub's research team considered when comparing Mastercard credit cards. By understanding these features, consumers can make informed decisions when choosing a credit card.

Research and comparison can be a daunting task, but it's essential to find the right credit card for your needs. The annual fee for travel rewards credit cards can range from $0 to $95, as seen with the Capital One Savor Cash Rewards Credit Card and the Citi Strata Premier℠ Card, both of which have a $95 annual fee.

If you're looking for a cash back credit card, the Capital One Savor Cash Rewards Credit Card is a great option, with a $0 annual fee. This card offers a more affordable alternative to other cash back cards.

For those with bad credit, the Capital One Quicksilver Secured Cash Rewards Credit Card is a good choice, with a $0 annual fee. This card is specifically designed for individuals with poor credit history.

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Here's a comparison of the annual fees for the credit cards listed:

It's worth noting that the U.S. Bank Business Altitude™ Connect World Elite Mastercard® has a $0 intro 1st yr, $95 after annual fee, which may be a good option for business owners.