Using rewards cards can be as simple or as complex as you want it to be.
On the simple end of the spectrum are cash-back cards that yield straightforward rewards with steady and predictable values. Here are some of the best cash-back card offerings. None charges an annual fee.
Citi Double Cash Mastercard: The card offers a $100 sign-up bonus if you spend $500 in the first three months.
This card’s strength is its straightforward payback on all purchases. And because it carries no annual fee, it’s a great choice even if you don’t spend much.
You’ll earn 1 percent cash back each time you make a purchase and 1 percent when you pay the bill. When you accumulate at least $25 in cash back, you can redeem it as an account credit, a check or a deposit into a Citi checking or savings account or any checking account from which you’ve paid a Citi credit card bill at least twice. Rewards expire if you don’t use the card for a year.
Chase Freedom Visa: You’ll get $150 back if you spend $500 in the first three months and another $25 if during those three months you add an authorized user to the card.
The card offers 5 percent back on up to $1,500 spent in categories that rotate quarterly and 1 percent back on other purchases.
Rewards are tracked as Chase Ultimate Rewards points, which you can redeem for an account credit or bank account deposit, gift cards or travel bookings at a rate of 1 cent per point.
Discover It: Discover will match the cash back you’ve earned after one year, doubling your rewards for the year.
Discover It offers a 5 percent rebate on up to $1,500 in purchases in categories that change quarterly and 1 percent on everything else.
You can redeem cash back in any amount for a statement credit, bank account deposit, charitable donation or purchases with participating merchants.
Fidelity Rewards Visa Signature: Earn 2 percent back on everything you charge with the Fidelity card.
The catch: You exchange points you earn for deposits into an eligible Fidelity Investments account, including brokerage, cash management, retirement, charitable giving and 529 college savings accounts.
You can divide rewards among up to five accounts and even contribute to a family member’s or friend’s eligible account — say, funding your grandchild’s 529 plan.
Once you have at least 5,000 points, you can exchange them for a cash deposit into your Fidelity account. You also can redeem points for such items as gift cards and merchandise, but points are typically worth only about half the value.
