SAN FRANCISCO, Feb. 13, 2014 /PRNewswire/ -- NextAdvisor.com, a leading consumer information web site, has released the results of its annual Cash Back Credit Card Analysis. This independent analysis surveyed major cash back credit cards to determine which cards earned users the most cash back rewards based on data entries from more than 7,500 NextAdvisor.com users over the past 15 months. Ten different credit cards were included, with first place going to the Blue Cash Preferred® Card from American Express which earned an average customer $672 over the course of 2 years. The BankAmericard Cash RewardsTM Credit Card came in second, and the Blue Cash EverydaySM Card from American Express ranked third.
The Analysis also includes a quick, easy and interactive Personalized Cash Back Calculator that will automatically calculate the most lucrative cash back card for an individual based on what they spend each month. A user simply enters how much they spend on anywhere from one to 25 categories and the calculator displays the card that will earn them the most cash back rewards based on their unique spending profile. The results also show how much cash back the user can expect to earn with other major cash back cards.
"The concept of getting extra cash back rewards for the purchases you're already making is very appealing." said Tasha Lockyer, Director of Product Management at NextAdvisor.com. "But because the earning formulas for cash back cards can be elaborate, it can be confusing to determine which cash back card will earn you the most money. We took the work out of it by doing the research on each card, building algorithms based on their Terms and Conditions and then creating the Personalized Cash Back Calculator."
The calculation used to determine the best cash back credit card for our median user was based on actual user data from more than 7,500 entries in NextAdvisor.com's Cash Back Calculator over a 15-month period. Past users let us know that on a typical user spent $180 on gas, $150 on eating out, $300 on groceries, $25 at department stores and $444 on everything else. This breakdown of monthly spending was used to determine the Cash Back Credit Card Analysis rankings.
Included in the survey were major cash back cards like the first place Blue Cash Preferred® Card from American Express, Chase Freedom®, Capital One® Quicksilver® Cash Rewards Credit Card, Blue Cash EverydaySM Card from American Express and the Discover it® Card. "This year the Blue Cash Preferred Card from American Express took the top spot with its appealing combination of high cash back rewards (up to 6%) for groceries, gas stations and department stores and a standard 1% cash back for all other purchases. But since this analysis is based on standard user data, anyone shopping for a cash back card should take advantage of the Personalized Cash Back Calculator to determine the best card for their spending style." said Lockyer.
In addition to the cash back credit card analysis, NextAdvisor.com provides independent reviews of each cash back credit card included in the survey. NextAdvisor.com also reviews many other types of credit cards, including travel cards, low APR cards and cards designed for those with average or bad credit.
You can read the complete NextAdvisor 2014 Cash Back Credit Card Analysis here: http://www.nextadvisor.com/credit_cards/cash_back_card_analysis
See the overall NextAdvisor.com credit card reviews at: http://www.nextadvisor.com/credit_cards/index.php
NextAdvisor.com provides independent reviews of online services for consumers and small businesses. The company's mission is to help its visitors save money and make optimal buying decisions by presenting them with useful comparisons and reviews of service providers and a clear explanation of each service and how it works. The company currently reviews, compares and explains many different types of services including credit cards, credit report monitoring, identity theft protection, diet plans, voice over IP, online dating, online backup, Internet security software, internet fax and web hosting.