Rotating category cash back credit cards are some of the most popular credit cards on the market, and it’s easy to see why. The issuing banks make the 5% back bonus categories sync up with the seasons, so the things people are most likely to want to spend money on are the things they will get the most back on.
For example, in March, April, and May, cards like Chase Freedom and Discover it often give 5% cash back at Lowe’s, Home Depot, and other home improvement stores. The offer is capped at $75 per quarter, or $1500 in spending, and after that, customers get the usual 1% or 2% cash back for the rest of their purchases. Terms and conditions vary so cardholders should be sure and check their bank’s policies.
Opting in isn’t optional
For some of these rotating cash cards, the savings or cash back isn’t automatic. People must opt in for the extra cash back on home improvement purchases or whatever the seasonal offering is. They can do this by logging into their account center online, calling the customer service department number on the back of their card, or sometimes by text message. Once they opt in, the savings or cash back will start.
Seasonal offerings vary
Home improvement savings are usually unique to spring, but each season has its own popular savings category. In the summer, gas is often one of the reward categories, as people hop into their card for road trips. In the fall, department stores offering back to school savings are the best bet for extra cash back. Winter, and the holiday season, might see online shopping and travel, such as hotel or airline purchases, giving extra cash back.
One good thing about these cards, say credit card experts, is that people can get a couple different ones to increase their possible savings. Financial advisors urge folks to pay attention to which card they are using to pay for purchases, so they get the most bang for their buck when shopping.
Read Also Related News
If you and your partner find yourself at odds over finances, join the club. Money is the number one thing couples fight about according to therapists and relationship experts. But just because it’s common, doesn’t mean it can’t be...
People who love taking advantage of Groupon’s discount offers now have an even better way to save money when using a Groupon – as long as they pay for it with an eligible Mastercard or Visa credit or debit card. Groupon Plus offers...
Mobile payments are gaining momentum, and that’s being demonstrated by the success of Visa Checkout, the online payment option for folks with a Visa card and a mobile device, desktop, or laptop computer. More than 20 million people have...
I need a credit card with a 0% APR to consolidate several of my credit cards into one payment. Please advise what card I can apply.
There are special credit cards that allow consolidation of other cards’ debts - the balance transfer credit cards. These cards usually come with a 0% intro APR on balance transfer offer. The zero introductory period varies, but as a rule it is between six months and two years. So you can find a credit card with...
The easiest way to find out if you have credit accounts under your name is to request a copy of all your three credit reports: Experian, Equifax, and TransUnion. The reports contain information about active credit accounts, its issuers, and the information about credit accounts balances. If you want to protect yourself...
To set a PIN on your credit card, you should call the credit card issuer at the number on the back of your credit card and request your PIN. After that, the issuer will mail to you your PIN. In the meantime, if you need cash, you can go to a bank office and present your credit card and picture ID.
The overall process of getting a credit card can take up to 30 business days. To know the status of your credit card applications you should contact the credit card issuer. A quick online search for the bank or credit card issuer's name should turn up a customer service phone number or email address. Banks and credit card...