Best 2% Cash Back Rewards Card
If you are one of the holdouts still not earning cash back on your credit card purchases, you make want to take a look at the HSBC Platinum Cash Back Card.
In my opinion this is the best cash back card and here is why….
- This card does not have a pre-spending limit before you can reach earn the 2%. For example like the American Express Blue Cash Card, you first need to spend 6500 on the card before you even qualify for the 5% everyday purchases. In the case of most people, in the long run, they will earn more cash back using the HSBC card from day one. Plus Amex is not accepted everywhere, so you have a better chance of acceptance with this card.
- This card pays 2% cash back on everything! No more having to decide what card to use when getting gas, groceries, etc. All purchases made will get you 2% back.
- Unlike the Fidelity 2% cash back card, the HSBC Platinum card does not require a brokerage account to be opened. So one less thing to do here.
- There is no annual fee with this card, so you pay nothing to have the option to earn 2% cash back.
- You can receive a cash back check as soon as your account reaches $25. This limit is a lot lower than other cards that won’t let you access your rewards until the $50 or $75 limit.
I have this card, and it is the only one my wife and I use. We have received over $475 cash back over the two years I have had it. Many people prefer receiving travel rewards, but we have found that there is no substitute to getting a check in the mail. It’s a little something extra that you can use to spend.
The application page for this card had disappeared shortly after I applied for it a few years ago. My thought is that they limit this card to so many people at a time. It is great news that it is now back again. My advice would be to get in on this one right away before they shut it down again. If you currently don’t have a cash back card, or a tiered one you really should take a look at this. For an easy comparison, take the amount of cash back you received on your current card last year, then divide it by the total amount you spend using the card last year. If that number is better than 2%, then you probably won’t need to switch, but I bet in most of your cases, it will be less!
You can find more details and how to aplpy on the HSBC Platinum 2% Cash Back Card Promo page.
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