Some offer a flat rewards rate and others
vary cash back rates with the type of purchase or the time of year.
Not exact matches
The amount of
cash back reward you will get
varies between 0.5 to 2.5 % of your purchases (net of returns) depending on the
rate being offered by your card issuer.
If you want more flexibility or if you fill up at different stations, it may be better to get a
cash -
back or travel rewards card that offers an accelerated
rate on gas purchases while also providing
varied redemption options.
That's the premise behind
cash back credit cards, offering
cash back rates that
vary dependent upon the things you buy.
As with other rewards programs, the
rate at which you earn
cash back will
vary by card, with particular spending categories often used to decide earnings
rates.
A note on methodology: Because
cash back rewards
rates vary based on what you're buying, we used a weighted basket to represent the average cardholder's monthly spending:
That means cardholders spending heavily in bonus categories may want to choose a bonus
cash -
back credit card whereas cardholders with
varied budgets may earn more overall
cash rewards by focusing on an all - around card that earn high, flat -
rate cash back.
We then applied
varying rewards
rates to see the total
cash back received from spending $ 1,000 to obtain the effective rewards
rate.