Credit card companies have offered cash back reward programs for many years, but until recently, the cards were barely worth the effort to use because the rate of return on the cards was so small.

There has been a seismic shift in the past 5 years as competition on the Internet has all the major credit card companies vying for your business. With credit card information one click away for most individuals, the banks who provide the credit cards are now forced to attract more customers by adding special rewards to their credit card offers.

5% cash back credit card offers exist today and they have no annual maintenance fees. These cards offer a full 5% cash back on all purchases made with the credit card.

Make The Cash Back Cards Work For You

1. Make a complete analysis of your monthly bills and change the payment arrangement to your cash rewards credit card on as many bills as you can. Not only will you have the opportunity to earn significant dollars back yearly for purchases you would have made anyway, this payment method is much easier than writing single checks for each of your bills.

2. Have the bills deducted from your credit card automatically. Setting up the payments this way will keep you from making any late payments and essentially, your financial billing system will be set to function on autopilot

3. Pay down your credit card balance to zero monthly by writing a single check at the end of the month. It should not be difficult to pay down your credit card in full monthly because the balance will consist of purchases that are essential and ones that were going to make anyway. Paying your card to zero monthly ensures that you are not charged any interest and you will still collect cash back on all your monthly purchases.

When you use a cash back credit card to pay bills for items that you would purchase on a regular basis anyway, your credit life will be simplified significantly and you will reap the rewards of the added cash.

For example, if you charge $1,000 monthly on a 5% cash back credit card offer, at the end of the year will have been paid back $600. That is a pretty impressive number considering you would be using the card to pay for essential items like gas, utilities, groceries and entertainment that you have to pay for anyway. All this cash back and not even an annual credit card fee. Sounds like a good deal to me.