Santandar Bravo MasterCard offers triple points on gas, groceries and restaurants, and one point per dollar spent on other purchases. New cardholders earn a $100 bonus after spending $1,000 in the first three months.
The catch: The card caps rewards at $5,000 in purchases each quarter, and there is an annual fee of $49 after the first year.
The Bottom Line: If you want to take advantage of rewards, do it responsibly. Pay credit card bills on time and in full. If you carry over balances, using a rewards credit card is pointless because the interest you pay will ultimately wipe out the cash back earne
The catch: With Fidelity, customers must have a Fidelity account. This can be a cash management account, which users can link to another checking account to transfer the earned cash back.
Citi Double Cash offers 1 percent cash back on all purchases, and when customers pay their bill on time the cash back doubles. There is also no annual fee for this card.
The catch: Citibank states on its website: “Just make sure to pay at least the minimum due. You don't have to wait until you've paid off a purchase to earn cash back on each payment.” But if cardholders don’t pay off their purchases in full, the interest owed to Citi on the revolving debt will likely wipe out the value of double cash back.
Got a Gas-Guzzler?
Gas prices may be dropping, but many Americans still fork over a significant amount of money at the pump each month.
The Pentagon Federal Credit Union’s Platinum Cash Rewards Visa Plus Card offers 5 percent cash back on gas purchases with no caps, limits or tiers on rewards. There is no annual fee for the Visa Plus Card. Members can elect to get the standard Platinum Cash Rewards Card, which only offers 3 percent cash back at the pump. There is no fee for the first year, but a $25 annual fee on subsequent years.
The catch: The card is only available to the credit union’s members. However, anyone can join PenFed credit union with a one-time $15 donation to either Voices for America’s Troops or the National Military Family Association. Members will also be asked to make a $5 deposit into a savings account to establish membership. This deposit is refundable should a member elect to terminate the relationship.
If a family spends $3,000 on gas in a year, this card is a simple way to earn $150 in straight cash back, or $135 in year one after the cost to join the credit union.
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