Which cash back rewards credit cards are worth it?When I started my search for a cash back rewards credit card several months ago, there was a bevy of cards available, each seemingly offering something better than the next.

I ended up picking up a Chase Freedom rewards credit card, which offered 3% cash back in the 3 spending categories I used most, plus an additional $50 bonus cash back for every $200 in cash back earned. I paid off my credit card balance in full every month and benefited from thousands of dollars in rewards.

Now, due to the credit crunch, credit card companies have been tightening their purse strings. My Chase Freedom card is the latest victim. There are no more 3% bonus categories. Also, the $50 bonus when reaching $200 in cash back rewards is gone.

The bonus being nixed means my Chase Freedom card essentially becomes just like every other 1% cash back card out there. Thus, I set out on an adventure to find a new credit card that gave me better rewards. (more…)