Depending on your financial situation, a cash back card might not be the best credit card option for you.
- People who are serious travelers: If you are a frequent traveler, you may find a travel card (like the Chase Sapphire Preferred® Card) to be a better fit than a cash back card. You can earn points or miles, which can be worth more than cash reward when redeemed for travel the right way.
- People with a large upcoming expense: If you need to make a large purchase and want the flexibility to pay over time, consider a 0% APR credit card. You can find several cards that let you spread your payments out for more than a year, and as long as 21 months, without paying a cent of interest.
- People with credit card debt: You may find that a balance transfer credit card is best, since you can transfer high-interest credit card debt to a card with little to no interest for up to 21 months. This can potentially save you thousands of dollars.
- People building credit: Many cash back credit cards require a good or excellent
credit score to be approved, but a credit card for building credit can help you improve your credit score to qualify for a high-earning cash back card. Some secured credit cards even offer cash back rewards.