I’ve written previously on the subject of cash back credit cards. However, the differences between the various cash back credit cards on the market are substantial enough that some cards deserve a closer look. Here, I will examine the differences between the Chase Cash Plus®, the Citi® Dividend Platinum Select® & the Blue CashSM from American Express® cash back credit cards.

The Chase Cash Plus® Rewards Visa offers a full 5% cashback on everyday purchases from grocery stores, drugstores and gas stations, plus 1% cashback on all other purchases. You can begin redeeming rewards at 5000 points, which will earn you $50 cash or a $50 gift certificate from one of many major retailers. Taking full advantage of this cashback is not a difficult task.

Let’s say you spend $100 a week on groceries. That’s $5,200 a year. With 5% back, you’ll earn 26,000 points, or more than $250 in cash or retail gift certificates just by paying your groceries with your Chase Cash Plus® card. Because this Chase credit card has a grace period where you are not charged interest, plus a 0% interest rate for the first year, you can earn that $250 back without paying any interest fees on your purchases. Unfortunately, the rewards do have their limits. This cashback credit card has a maximum annual cashback award of 30,000 points, or $300.

The Citi® Dividend Platinum Select® Card, like the Chase Cash Plus®, offers a full 5% cashback on everyday purchases from grocery stores, drug stores and gas stations, and 1% on all other purchases. In addition to these cashback opportunities, the Citi® Dividend Platinum Select® Card also offers special cashback offers from a bevy of merchants. For example, a number of cruise companies earn you 4% cashback when you purchase your cruise through the Citi Dividend Merchant Network. Other sites, like Gap.com and target.com, also offer 4% cashback when you use your Citi® Dividend Platinum Select® Card. That’s a lot of ways to earn cashback. You can begin redeeming rewards at 5000 points, which will earn you $50 cash.

Now, taking full advantage of the Citi® Dividend Platinum Select® Card’s cashback rewards program is fairly simple. First, earn 26,000 points or $250 with your groceries. Now, do something you don’t want to do: think about how much you spend on gas. Hopefully this expense will go down, but currently, let’s assume you spend $2000 a year. That’s another 10000 points, bringing our cashback total to $360.

If you don’t plan on booking a cruise or shopping through the Citi Dividend Merchant Network, your everyday spending or drugstore expenses combined could easily earn you another 14000 cashback points, bringing your total yearly cashback rewards to 50,000 or $500, the yearly limit for cashback with the Citi® Dividend Platinum Select® Card. Unlike the Chase Cash Plus®, the Citi® Dividend Platinum Select® Card’s 0% introductory interest rate applies only to balance transfers. However, you can still take advantage of the card’s interest free grace period and earn your $500 in cashback rewards without paying interest.

The American Express® Blue CashSM credit card offers a vastly different rewards program. Like the other cashback credit cards, Blue CashSM offers a full 5% cashback on everyday purchases from grocery stores. Additionally, Blue CashSM also offers up to 1.5% cashback on all other purchases. However, there are two very significant matters of fine print with this cashback card. First, cashback is only earned at a rate of 1% for everyday purchases and 0.5% for all other purchases for the first $6500 spent during a year as a card member. Once $6500 is spent, you then begin to earn 5% on everyday purchases and 1.5% on all other purchases. Two months after your card member anniversary date, the cashback you earned with your American Express® Blue CashSM card is credit to your statement.

Unlike the Citi® Dividend Platinum Select® Card and the Chase Cash Plus® programs, the American Express® Blue CashSM cashback rewards program allows you to earn cashback on up to $50,000 in annual spending, which can easily add up to more than $500. However, most credit card users won’t spend enough to take advantage of this cards full reward potential.

I may be wrong, but I believe cashback credit cards are the best credit cards on the market. Why? Because they pay you money. Call me crazy, but I stand by my opinion. However, when choosing a cashback credit card, it’s very important to get the card that best fits your needs. For most, the Citi® Dividend Platinum Select® Card and the Chase Cash Plus® Rewards Visa offer the most accessible cashback rewards. If you use both cards, your yearly rewards on everyday purchases could total $800. Not too bad a return on money you’d be spending anyhow.

Copyright 2006 Credit Card Depot Inc.

Jeffrey Weber is the president and CEO of Credit Card Depot Inc. For over two years, his website http://www.Credit-Card-Depot.com has provided detailed information on credit card applications for over two years and has helped over 10,000 consumers find new credit cards online. Credit Card Depot features secure links tocashback credit cards and various otherrewards credit cards applications.

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