Want to earn cash back while doing your every day shopping. There are Credit Cards that allow you to earn cash back for everything you purchase through your cashback credit cards. Whether you are buying a cup of coffee or paying for a new car, you will earn a small percentage for every dollar you spend. You can earn 5% cash back rewards at supermarkets, gas stations, and drugstores. For example, if you spend $5000 a year buying grocery at supermarkets you will be eligible for a $250 check. There is usually an annual limit on how much you can earn – $300 for most credit cards with cash back reward.

One quick way to earn cash back without spending too much is to sign up a new reward credit card. Card issuers like Citibank and Capital One offer cards that give you $100 to $200 cash back after you spend $500 in purchase within the first 3 months of account opening. Capital One even offers 50% bonus cash. Let’s say you earn $240 cash back over the year you will get $120 as bonus cash. With one-time $100 bonus offer you will earn $460 in total cash back the first year. How easy is that? The regular cash back is 1% on all purchases – that means the more you spend the more cash reward you will earn. You also have the choice to redeem cash rewards via check, account credit, or gift cards. Our recommendation is always get a check – that gives you the maximum flexibility. You can use the cash to buy gift cards, toys, gadgets, or whatever you feel like.

So if I apply for more cash back reward cards I can earn more cash back? If you apply for 5 cards and each card requires a minimum purchase of $500 during the first 3 months you actually have to spend $2500 in total by the end of the 3rd months. If you do want to take advantage of the one-time bonus cash offer I highly recommend you to get one card at a time so you can manage your spending easily. Some cards require you to carry a balance during the intro period – make sure you pay off the entire balance before the intro periods ends. Otherwise you might have to pay more financial charges than the bonus cash you earn.

It’s probably not the best approach to earn money by signing one numerous cards even if you have excellent credit. Having too many cards are difficult to manage. 10 cards will have 10 different due dates each months. Besides the regular cash back rate is 1%. Having more cards don’t mean you will earn more. You still have to spend more money to get the reward.

One or two cards are good enough in my opinion. Keep it simple to manage and avoid late fees and financial charges. What do you think?