If you happen to’re questioning, “The place can I get money again from a bank card?” the reply will depend on the cardboard. Some playing cards provide a flat charge on all spending, whereas others provide higher charges in sure classes, similar to grocery shops and fuel stations.

Listed below are a number of sorts of bank cards you would possibly encounter.

1. Flat-rate money again playing cards

Probably the most easy money again playing cards provide a flat earnings charge on all of your spending. For instance, the Wells Fargo Lively Money Card provides 2% again on all purchases.² Equally, the Citi Double Money Again Card provides 2% again in all classes — 1% if you make a purchase order and one other 1% if you pay it off.³ If you happen to spent $1,500 on a bank card with a flat 2% money again charge in a month, you might anticipate to earn $30 again.

2. Tiered reward money again playing cards

Some money again playing cards provide totally different charges in numerous spending classes, similar to grocery shops, fuel stations, eating places, leisure, streaming providers, or journey.

The Blue Money Most popular Card from American Categorical, as an example, provides 6% again at U.S. supermarkets for as much as $6,000 in spending annually (then 1% again after that), in addition to 6% again on sure streaming subscriptions, 3% again on transit and fuel, and 1% again on different purchases.⁴ To offer one other instance, the Capital One SavorOne Money Rewards Credit score Card earns 3% again on eating, leisure, streaming providers, and grocery shops and 1% again on all different purchases.⁵

A money again card with tiered rewards might attraction if you wish to maximize your rewards in sure classes over others.

3. Rotating classes money again playing cards

Lastly, some bank cards provide totally different charges in choose classes that rotate on a quarterly foundation. The Uncover it® Money Again Card earns 5% money again on purchases in numerous classes every quarter as much as $1,500 in spending, then 1% again after that (and a vast 1% on all different purchases).⁶

Some playing cards with rotating classes provide greater earnings charges routinely, whereas others require you to activate your provides. Some additionally allow you to select your bonus classes, just like the U.S. Financial institution Money+ Visa Signature Card. With this card, you possibly can select from an inventory of classes every quarter to activate 5% again on as much as $2,000 in mixed spending. You can too choose a class to earn 2% again on and can earn 1% on all different purchases.⁷

Since these playing cards have a extra complicated earnings system, they could require extra consideration from you to profit from your rewards every interval.