We all get excited about earning credit card rewards, but most cards require you to wait until you’ve built up at least $25 in cash back, points or miles before you can cash in.
Here are a few cards that allow you to redeem rewards in any amount:
If you like 5% cash back: Discover it® Cash Back
When it comes time to cash in your rewards, you’re free to do so at any time, in any amount. Also, you’ll have several options, including a statement credit, a direct deposit into your bank account or making a charitable donation.
Finally, keep in mind that the Discover it® Cash Back charges an annual fee of $0, so it’s a cost-effective choice. In short, this is an excellent card to keep on your radar.
If you want to choose your bonus rewards categories: U.S. Bank Cash+™ Visa Signature® Card
Getting 5% cash back in rotating quarterly bonus categories is great, but only if the categories are places that you actually shop. That’s where the U.S. Bank Cash+™ Visa Signature® Card comes in. With it, you’ll earn 5% cash back in two spending categories of your choice, up to $2,000 spent per quarter, then 1%. You’ll also earn 2% cash back on an everyday spending category of your choice (most folks choose gas or groceries) and 1% cash back on all other purchases.
In September 2017, U.S. Bank added a limited-time offer for new cardholders: In the first year you have the card, the 5%, 2% and 1% rewards rates are increased to 5.5%, 2.5% and 1.5%. After the first year, the rates drop back to 5%, 2% and 1%.
As promised, you’ll be able to redeem the cash back you’re earning with the U.S. Bank Cash+™ Visa Signature® Card in any amount when you choose to deposit it into a checking or savings account, or get a statement credit. Couple this with the options you have for earning bonus cash back, and the U.S. Bank Cash+™ Visa Signature® Card is one of the most flexible cards out there today.
Like the Discover it® Cash Back, the U.S. Bank Cash+™ Visa Signature® Card also provides customers with ongoing access to their FICO credit scores. This is a great way to make sure that you’re staying in tip-top financial shape as you enjoy all the cash back you’re racking up.
The U.S. Bank Cash+™ Visa Signature® Card’s $0, so it’s another low-cost option.
If you prefer simplicity: Capital One® Quicksilver® Cash Rewards Credit Card
Rotating bonus categories will help you score extra rewards, but they can also be kind of a hassle. The Capital One® Quicksilver® Cash Rewards Credit Card provides the ultimate luxury – simplicity. With it, you’ll earn 1.5% cash back on all purchases, all the time. There’s no limit to the cash back you can earn and, once again, rewards can be redeemed any time and in any amount.
Unlike our other picks, the Capital One® Quicksilver® Cash Rewards Credit Card comes with a signup bonus: One-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening. It also charges an annual fee of $0, so you’ll be able to build up your cash back without having to fork any of it over.