Cash back rewards come in many forms

If you're not doing it already, then you should make sure your credit card offers you something for using it, and there are so many options. And the offers range from cash back to travel points.

According to this is how usage breaks down in the most popular categories.

Gas/Retail - 29 percent

Airline/Hotel 20 percent

General travel - 19 percent

Business - 18 percent

Now look at this: 43 percent of rewards cardholders go for cash back. That's as many as some other categories combined.

Here's what you should know about the cash back cards. There are three types.


Flat rate


Rotating bonus

The flat rate card means you get cash back on all purchases, usually 1.5 percent or higher. Bonus rewards cards means making money back on certain spending categories. Those are usually groceries, gas or eating out. And if you're spending is not in a specific category then you get less back on those purchases. This is great if you spend, say, a lot of money eating out. Rotating rewards means your cash back opportunity is higher in certain categories for a short period of time then it rotates to a higher rate for another category. 

So ask yourself where you spend the most money. Is it groceries? Then hunt for that card that will help you. Are you young and travel a lot? Find a card that supports your habit.  You can tailor your credit card to the way you spend.