Editorial Disclaimer: The editorial content on this page is not provided by any financial institution and has not been reviewed, approved or otherwise endorsed by any of these entities.
If the team at MagnifyMoney created a cashback credit card, it would look something like this:
No annual fee
No limit on the cashback you can earn
No minimum redemption amount. If you have 1 penny of cashback earned, you can get it
No rotating categories, confusing bonus offers, mandatory opt-ins or caps
We think this is a good product. You will earn 1.5% cash back on all of your spend. There are no caps and no minimum redemption amount. You don't need to open a special checking account. We love the simplicity and transparency. However, you may want to consider Citi Double Cash - which has the same simplicity, but pays 2%, instead of 1.5%. And, unlike many some other cards you will see on our cash back table - there is more value in the on-going earn rate than the sign-on bonus. Capital One offers a balance transfer - however it is only for 9 months, and comes with a 3% fee. If you are looking for a balance transfer, there are much better options, which you can find here. The only reason to get a different product would be:
You know that you spend a lot – consistently – in certain categories. For example:
Life changes. Over time, you have the best chance of maximizing your earning potential with a simple, no-gimmick card.