Wednesday, August 22, 2007 4:42 AM
Can you recommend a cash-back credit card?
You’ll do best by looking at all the offers – creditcards.com lets you compare — and then picking a card that gives you the largest amount of cash for the item you buy most frequently. One offer from Discover gives 5 percent cash back when you buy gas, which is terrific unless you ride the subway. The company has another offer: 5 percent cash back for office supply purchases. But even a 1 percent cash rebate is better than nothing assuming you follow the No. 1 rule of credit card reward programs: No Balances Allowed. Remember, even if the cash-back rate is 5 percent, the interest rate of some-15 percent you’ll pay on balances will quickly wipe out the reward, plus a whole lot more.