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CNBC
11-06-2025
- Business
- CNBC
When it comes to cash-back credit cards, which is better: Flat rate or bonus categories?
Cash-back credit cards have long been a popular go-to rewards card for many cardholders — and for good reason. You can simply make money off of those everyday purchases you'd make anyways. That money can then be used to pay off your credit card bill, as one redemption example. How much cash back you can earn depends on the credit card and its cash-back rate. Some cards offer a flat-rate cash back, say 2%, on all purchases no matter what they are. Others offer a higher cash-back rate, say 5%, but only on purchases in certain spending categories. Here's how to know which is better for you. With a flat-rate cash-back credit card, you earn a fixed rewards rate on all eligible purchases. For newbies to the credit card rewards game, these credit cards can make for a simple and easy way to start out. Flat-rate cards typically don't carry an annual fee, in exchange for their benefits being less impactful. While the exact rate will vary by card, some of the best flat-rate cash-back cards offer 2% cash back on purchases, so a purchase of $100 will earn you $2 in rewards. Flat-rate cards are a good option if you want to stick to one credit card for most of your purchases, and you'd rather not mess around with points or miles. One of the most popular flat-rate cash-back cards available is the Citi Double Cash® Card, which offers an unlimited flat 2% cash back on all your purchases: 1% when you make a purchase and 1% when you pay your bill. The card doesn't have any category restrictions, nor does it require enrollment, so you'll be earning with every purchase. The Double Cash Card also comes with an introductory 0% APR period and has no annual fee. On Citi's site On Citi's site Receive a 0% intro APR for 18 months on balance transfers. Fair to Excellent580–850 18.24% - 28.24% variable $0 Earn $200 cash back See rates and fees, terms apply. Read our Citi Double Cash® Card review. The Citi Double Cash® Card is one of the best no-annual-fee cash-back cards thanks to its straightforward rewards is an intro balance transfer fee of 3% of each transfer (minimum $5) completed within the first 4 months of account opening. A balance transfer fee of 5% of each transfer ($5 minimum) applies if completed after 4 months of account opening. 3% The Wells Fargo Active Cash® Card also offers 2% cash rewards on all purchases and zero annual fee. The Active Cash Card comes with a 12 month 0% intro APR period on purchases and qualifying balance transfers (after 19.24%, 24.24%, or 29.24% Variable APR), plus a few additional perks like access to the Visa Concierge® Service and cell phone protection. On Wells Fargo's site On Wells Fargo's site Good to Excellent670–850 19.24%, 24.24%, or 29.24% Variable APR $0 Earn a $200 cash rewards bonus See rates and fees. Terms apply. The Wells Fargo Active Cash® Card is great if you want simplicity thanks to its flat-rate 2% unlimited cash rewards on purchases and $0 annual balance transfer fee of 3% for 120 days from account opening, then up to 5%, min: $5 3% Using a flat-rate card means you don't have to track changing bonus categories or worry about using a specific card for a purchase. You can check out our comparison of these two cards for a more in-depth look. Find the best credit card for you by reviewing offers in our credit card marketplace or get personalized offers via CardMatch™. Bonus categories offer a higher rewards rate, usually 5%, for spending in specific categories, like grocery stores and online shopping. The bonus categories will either rotate every quarter or be fixed categories that don't change. Both of these options typically have a maximum amount of cash back you can earn in your categories, then the card earns 1% after you've hit the threshold. Credit cards offering bonus categories allow you to earn more rewards than flat-rate cash-back cards, but only if you spend efficiently, and maybe get a little lucky with your categories. The Chase Freedom Flex® earns you 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate, then 1%. The categories rotate each quarter based on the current Chase Freedom cash-back calendar and are typically announced a few weeks before the new quarter. You'll also get 3% cash back on dining at restaurants, including takeout and eligible delivery services, and 1% on all other purchases. New cardholders receive a 0% intro APR for 15 months from account opening on purchases and balance transfers. Good to Excellent670–850 18.99% - 28.49% variable $0 Earn a $200 Bonus Member FDIC. Terms apply. Information about the Chase Freedom Flex® has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication. Read our Chase Freedom Flex® review. The Chase Freedom Flex® is an excellent cash-back card for maximizing your spending in a variety of categories. Intro fee of either $5 or 3% of the amount of each transfer, whichever is greater, on transfers made within 60 days of account opening. After that, either $5 or 5% of the amount of each transfer, whichever is greater. 3% Prefer a card with bonus categories that don't rotate? The Blue Cash Preferred® Card from American Express offers 6% cash back on groceries at U.S. supermarkets (up to $6,000 per year), 6% cash back on select streaming services, 3% on transit, 3% on gas and 1% on everything else. These categories are fixed and won't rotate, so you can plan your spending without worrying about them ever changing. On the American Express site On the American Express site Good to Excellent670–850 20.24%-29.24% Variable $0 intro annual fee for the first year, then $95. Earn a $250 statement credit See rates and fees, terms apply. Read our Blue Cash Preferred® Card from American Express review. The Blue Cash Preferred® Card from American Express is a low-fee card with generous cash-back rewards and useful ongoing benefits, such as a monthly Disney Bundle credit. (Enrollment required for select benefits mentioned)Either $5 or 3% of the amount of each transfer, whichever is greater. 2.7% of each transaction after conversion to US dollars While many bonus category cards have the ability to out earn flat-rate cash-back cards, it will depend on your spending habits. Make sure to shop around to find a bonus category card that fits your lifestyle instead of just going for the highest return. Both flat-rate cards and bonus category cards can work well, but it comes down to how you want to spend. If you're curious, it might be helpful to do the math on some mock purchases, so you can see how your rewards change. Another popular solution is to have both types of cards as they can pair together quite well. You can earn your elevated rewards in your bonus categories, and for purchases that don't fall into one of those, you can use your flat-rate card to likely earn higher than the 1% you might have otherwise. Either type of card can help you get the most out of your spending, but you have to be aware of how you spend your money so you can pick the best card to match. Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here. At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card article is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
CNBC
28-05-2025
- Business
- CNBC
What happens when my 0% APR period ends?
A 0% APR credit card can be a helpful financial tool when you need to finance a large purchase or consolidate outstanding credit card balances. You can get up to 24 months of zero interest, making it easier to make payments over a longer period without going into debt. But these types of credit cards are really only best utilized when you have a payment plan in place so that when the introductory 0% APR period ends, you're not then collecting interest on a large balance. Here's more on what happens when your interest-free period ends, plus how to manage a possible ongoing balance when that happens. Whether you're using a 0% APR card that offers an interest-free period on new purchases, balance transfers or both, that grace period doesn't last forever. Some credit cards offer introductory 0% APR periods for as little as 12 months while some offer periods for as long as two years. If you're looking for a card with a shorter 0% APR window, the Wells Fargo Active Cash® Card offers an intro APR for 12 months on purchases and qualifying balance transfers (after, 19.24%, 24.24% or 29.24% variable APR) and earns unlimited 2% cash rewards on purchases, plus the card has a $0 annual fee. On Wells Fargo's site On Wells Fargo's site Good to Excellent670–850 19.24%, 24.24%, or 29.24% Variable APR $0 Earn a $200 cash rewards bonus See rates and fees. Terms apply. The Wells Fargo Active Cash® Card is great if you want simplicity thanks to its flat-rate 2% unlimited cash rewards on purchases and $0 annual balance transfer fee of 3% for 120 days from account opening, then up to 5%, min: $5 3% If you'd prefer one that gives you a bit more time, the U.S. Bank Shield™ Visa® Card has an intro 0% APR on purchases and eligible balance transfers that's double the length, lasting 24 billing cycles (after, 17.74% to 28.74% variable APR). The card comes with 4% cash back on prepaid air, hotel and car reservations booked directly in the Rewards Center and a $20 annual statement credit for 11 consecutive months of purchases. Personal and small business credit cards issued by U.S. Bank are currently not available on CNBC Select. Click "Learn More" to review other credit card offers. Personal and small business credit cards issued by U.S. Bank are currently not available on CNBC Select. Click "Learn More" to review other credit card offers. U.S. Bank cards are currently not available on CNBC Select but you can check out our marketplace to compare offers from other issuers including American Express and Chase. Good to Excellent670–850 See terms See terms See terms *See rates and fees, terms apply. Information about personal and small business credit cards issued by U.S. Bank has been collected independently by CNBC Select and has not been reviewed or provided by the issuer prior to publication. Regardless of the time frame, once your APR period ends, you'll begin accruing interest on any unpaid balance at the rate listed on your card's agreement terms. (You can often find this rate via your online account or contact your issuer directly.) This is why we always suggest having a specific plan in place to pay off your balance by the time the 0% APR period ends. One example is dividing how much you owe over the number of months in the APR period, so you know how much to pay each month to get to zero before interest kicks in. Otherwise, you'll be stuck with a ballooning balance now due that's going to start collecting double-digit interest. And don't forget that even with a 0% APR card, you still have to make monthly minimum payments at the very least. An issuer can end the interest-free period if you miss a credit card payment. So, you weren't able to tackle the entire balance by the time your 0% APR period ended; now what? While this seems like the obvious answer, with how high credit card interest rates can be, this type of debt should almost always be your priority. This is sometimes referred to as the avalanche method, which entails paying off the debt that has the highest APR first. If you're at a point where you're considering outside help, exploring some debt relief companies can at least provide you with some more information. These companies negotiate with your creditors to help get your balance lowered, but the negotiation can come with some hoops you have to jump through, and success isn't always guaranteed. Offers in this section are from affiliate partners and selected based on a combination of engagement, product relevance, compensation, and consistent Debt Relief has resolved over $19 billion in outstanding debts since 2002. It offers free credit card debt relief in 2011, Accredited Debt Relief has helped clients resolve over $1 billion in debt. While you can request an extension via your financial institution, it's unlikely that this would be approved, but there are some credit card fees you might be able to waive. Yes, it's generally recommended to keep the credit card open to help boost your available credit and credit history, with an exception being for high-annual-fee cards that you don't intend to use. The length of your exact 0% APR period is determined by the card you're approved for, but six to 24 months, or billing cycles, is a common range. Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here. At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every credit card article is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of credit card products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
CNBC
29-04-2025
- Business
- CNBC
Wells Fargo Active Cash vs. Wells Fargo Reflect: Do you want rewards or an intro APR?
The Wells Fargo Active Cash® Card and Wells Fargo Reflect® Card can both save you money — but in different ways. Which one is right for you depends on whether you prefer a longer intro-APR period or rewards. In other words, would you rather avoid interest (for a time) or earn cash back? Below, CNBC Select dives into the details of what each credit card offer, so you make the best choice for you. None None $0 0% intro APR for 21 months from account opening on purchases and qualifying balance transfers. 17.24%, 23.74%, or 28.99% variable APR 5%, min: $5 3% Excellent/Good See rates and fees, terms apply. Unlimited 2% cash rewards on purchases Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months $0 0% intro APR for 12 months from account opening on purchases and qualifying balance transfers. 19.24%, 24.24%, or 29.24% Variable APR Intro balance transfer fee of 3% for 120 days from account opening, then up to 5%, min: $5 3% Excellent/Good See rates and fees, terms apply. The Wells Fargo Active Cash® Card and Wells Fargo Reflect® Card both have no annual fee. Winner: Tie With the Wells Fargo Active Cash® Card, you can earn $200 in cash rewards after you spend $500 in purchases within the first three months. You'll also receive an intro APR period for purchases and qualifying balance transfers that last 12 months. The Wells Fargo Reflect® Card has no welcome bonus, but you'll receive a longer intro APR offer, lasting 21 months. That makes the card more useful if you have lots of high-interest credit card debt. However, the Active Cash provides the opportunity to earn an upfront cash bonus and has a lower intro-balance transfer fee. Winner: Wells Fargo Active Cash The Wells Fargo Active Cash® Card is a flat-rate 2% cash-back credit card. The Active Cash earns 2% in cash rewards on every purchase, which you can redeem for gift cards, statement credits, direct deposits (into eligible Wells Fargo accounts) and more. The Wells Fargo Reflect® Card doesn't earn rewards. Winner: Wells Fargo Active Cash The Wells Fargo Reflect® and Wells Fargo Active Cash® both provide some basic protections, including: The cell phone coverage can be valuable because you can be reimbursed up to $600 per claim for up to two claims every 12 months (a $25 deductible applies). However, the rental car insurance is secondary, so it only covers what your other insurance doesn't. The Active Cash Card also has travel and emergency assistance services and provides access to the Visa Signature Concierge and Luxury Hotel Collection. Winner: Wells Fargo Active Cash Offers in this section are from affiliate partners and selected based on a combination of engagement, product relevance, compensation, and consistent availability. Good to Excellent670–850Earn 100,000 bonus points On Chase's site See rates and fees. Terms apply. Good to Excellent670–850Earn $250 cash back On Chase's site See rates and fees. Terms apply. Overall, the Wells Fargo Active Cash® Card is a better credit card for most people. It has a straightforward and rewarding cash-back program. Plus, you'll get an intro-APR offer, which means you can save money in multiple ways with the Active Cash Card. The Wells Fargo Reflect® does one thing and it does it exceptionally well—reduce your interest payments. If you're working your way out of credit card debt or need to finance a purchase, the Reflect card can be a better choice. Just be sure to consider this card's higher balance transfer fee when you're running the numbers. Many rewards cards require you to have a good to excellent credit score to qualify. That makes higher-tier rewards cards an unlikely option for anyone with poor credit or no credit history. If you have trouble paying your bills on time, a card with a 0% APR period might tempt you to spend more than you can handle. Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here. At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every personal finance article is based on rigorous reporting by our team of expert writers and editors with extensive knowledge of financial products. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties, and we pride ourselves on our journalistic standards and ethics.
