I personally like cash rebate cards. I use my cash rebate credit card for everything! And I mean everything. A while back when I’d paid off all of my credit card debts, I vowed that I would never use a credit card again. And for a long time I didn’t… I was a debit card swiping mama. But I kept getting all these offers in the mail for cash reward cards. At first I was hesitant to apply, but the temptation to get 1, 3 or even 5 percent back on my purchase was too strong. I caved in and got a card.

However I do not regret it. I am using it very responsibly. Instead of swiping my debit card, I swipe my cash reward credit card. But at the end of every week, I transfer the money from my checking account to my credit card. Although, I can probably get away with transferring the funds only once a month, I prefer to do it more often. That way I won’t be tempted to spend the money that is in my checking account. And I can be sure to get the most out of a cash reward card because I never carry a balance.

Below I present one of the more popular cash rebate credit cards:

About the card

The Blue Cash Credit Card is issued by American Express.

The basics

• Variable purchase APR of 8.99%, 11.99% or 14.99%, depending on your credit rating, Cash Advance APR of 19.99%
• 3% balance transfer fee ($5 minimum, $99 maximum)
• 20 day grace period
• no annual fee
• $35 over the limit fee
• $19 late fee if the card balance is less than $400, $38 if card balance if $400 or more

The perks

• 0% APR on purchases for the first 12 months
• If initiated within the first 30 days of opening the card, 3.99% APR on balance transfers for the life of the transfer
• Earn up to 5% cash back on everyday purchases at grocery stores, drug stores and gas stations (Cash Rebates are credited to your account annually.)
• If your spend up to $6,500 annually, you get 1% cash rebate on you every day purchases, .5% back on other purchases
• If your spend more than $6,500 annually, then you get 5% cash rebate on you everyday purchases, 1.5% back on other purchases
• Car rental insurance provided free by American Express when you use this card to rent a car
• Provides free travel accident insurance up to $250,000 in the event of accidental death or dismemberment

This card may be right for you if like earning cash back rewards and if you pay your balance in full every month.

This card may not be right for you if carry a card balance from month to month. There are few other cards that can offer you a lower interest rate.

Credit card review

As far as cash rebate cards go, this is one of the elite. Overall, it is an excellent card! Most reward cards compensate for the cash rebates by charging higher interest rates. Although 8.99% isn’t the lowest interest around, it is definitely well below the norm. And what is nice about this card is that it is not only for those with superior credit. Even with an average credit rating, you’ll likely get the card if you applied. However, you’ll be paying a higher interest rate.

It is a great card, but don’t get enticed into moving to the 5% rebate tier. In order to get the highest rebates, you’ll have to make more than $6,500 in purchases annually. If you are not a big credit card spender, don’t start now. If you spend more than you can pay off at the end of the month, then the benefit of having this card diminishes.

Overall rating

I give it 5 out of 5 stars.

Apply for the Blue Cash® from American Express card here.