Every week, cash back credit card deals are decreasing. American Express recently emailed me to let me know that they have lowered the cash back rate on their SimplyCash Business Card from 5% to 3% on gas station purchases. If this is your card, it might be time to seek out another deal.

Here are a few suggestions designed to maximize your cash back based on your spending habits.

Blue Cash from American Express.

If you use credit cards for most of your spending, you might like this card. While the first yearly $6,500 of your spending is subject to only 1% cash back on “everyday” purchases (including purchases at gas stations, supermarkets, and drug stores) and 0.5% cash back on everything else, once you pass that threshold, you will earn 5% cash back on your “everyday” purchases and 1.5% cash back on everything else.

Discover Open Road Card.

If you’re not a heavy spender on your credit cards but you’re still looking for the best deal, the Discover Open Road Card may be a good choice. You will earn 5% cash back of the first $100 you spend each month on gas and auto maintenance. In other categories, you will earn 0.25% or 0.50% cash back. Spend more than $3,000 over the entire year and you’ll earn 1% cash back on your spending in excess of this minimum.

TrueEarnings Card from Costco and American Express.

Even if you don’t shop at Costco, this card provides a good cash back bonus. You can earn 3% back on gas, as long as you don’t buy 75 gallons or more in one transaction. There’s no yearly limit to this cash back, however. The catch here, as you might have guessed, is that you must be a member of Costco in order to qualify for this card.

Note: This is a “business” card, but you can apply as an individual.

Chase BP Visa Rewards Card.

If you’re loyal to these brands of gasoline, this card provides a strong 5% cash back rebate for your purchases at BP or Amoco stations. You’ll also receive a 2% cash back rebate in other categories and 1% cash back on everything else (except gasoline sold at gas stations branded with anything other than BP or Amoco). BP has low prices on the path of my commute, but usually not the lowest. The question is whether the larger cash back amount will offset the slightly higher price.

As with any rewards-offering credit cards, taking advantage of cash back depends on your ability not to carry a balance, accrue interest, or pay late fees. Any method of using a rewards credit card other than paying the balance in full every month will negate any benefit offered by the issuer.

Thanks to the recent reduction in the federal funds interest rate, debtors have reason to celebrate. Interest rates on credit cards pegged to the prime rate are decreasing. CitiBank recently reset the APRs on a number of their credit cards. Here are some of the highlights.

Citi CashReturns MasterCard (apply here)

Now as low as 9.99% on purchases. The Citi CashReturns MasterCard is one of Citi’s newer cards and may be one of the best rewards cards for people who look for cash back. The card offers 1% cash back on all purchases. The rewards accumulate as “CitiDollars” and Citi will automatically send a check once 50 CitiDollars are accumulated.

If you are lamenting the lower benefits of the Citi Dividend Platinum Select, call the number on the back of the card and ask to have your program changed to CashReturns.

Citi Professional Cash Card (apply here)

Now 9.99% on purchases. This Citi Professional Cash Card and its cousin, the Citi Professional Card With ThankYou Network, offer similar rewards. Purchases at restaurants, gas stations, office supplies, and car rentals earn 3% cash back or 3 points for every dollar spent. All other purchases earn 1% cash back or 1 point per dollar.

The difference is that the earnings from the cash card can be redeemed via check while the points earned with the ThankYou Network card can only be collected through purchasing items through Citi’s network of merchants. The good news is that many of these merchants offer gift cards.

Also, the Citi Professional Card With ThankYou Network is currently offering 10,000 ThankYou® Points after $250 in purchases, redeemable for a $100 gift card..

The Citi Professional Cash Card and Citi Professional Card With ThankYou Network have a 0% introductory rate or purchases for 12 months.

Citi Bronze / AAdvantage® World MasterCard (apply here)

Now 14.99% on purchases. The Citi Bronze / AAdvantage® World MasterCard, which comes in other flavors such as Gold and Platinum, offer rewards for frequent travelers on American Airlines. With the Bronze card, one mile is earned for each two dollar spent, while the Gold and Platinum level cards earn one mile for each dollar. Miles can be redeemed not only with American Airlines, but with 25 top airlines, car rental companies, and hotels.

These three cards offer sign-on bonuses after your first purchase. You will earn 10,000, 15,000, or 25,000 points depending on the level of card you own. The increasing benefits come with increasing annual fees, however. The Bronze card has no annual fee while the Gold and Platinum cards charge $50 and $85 respectively. This annual fee can be worthwhile if you make the most out of these credit card rewards.

Citi Dividend Platinum Select (apply here)

Now as low as 10.99% on purchases. I consider the Citi Dividend Platinum Select to be the flagship rewards card. Unfortunately, it is not quite the card it used to be. Many past cardholders saw a reduction of the cash back rewards and were later suggested to change to the Citi Dividend World MasterCard. For new card members, the Citi Dividend Platinum Select offers 5% cash back on purchases at supermarkets drugstores, gas stations, convenience stores, and utilities including cable. After 6 months, this is reduced to a 2% cash back bonus. All other purchases earn 1% cash back.

The Citi Dividend Platinum Select Card for Students offers the same features, but has a different promotional rate. The card for students offers a 0% APR on purchases, cash advances, and balance transfers for 6 months, while the standard card extends that offer for up to 12 months on balance transfers only.

Citi Driver’s Edge Platinum Card for Students (apply here)

Now 14.99% on purchases. This card offers 3% cash back on purchases at supermarkets, gas stations, and drugstores and 1% rebates on all other purchases. The Citi Driver’s Edge Platinum Card for Students benefits students with an introductory 0% APR on purchases, balance transfers, and cash advances for 6 months. You also receive rebates for each mile you drive, $1 for each 100 miles. That can add up considerably. Citi verifies your mileage by requiring a copy of auto service receipts with odometer readings.

Unfortunately, the rebate isn’t pure cash. The rebated can only be used towards the purchase of a car, repairs or service, or merchandise in the Thank You network. The maximum you can earn each year is $1,000 in rebates, higher than other rebate programs, but not unlimited.

Citi Home Rebate Platinum Select Card (apply here)

Now 9.99% on purchases. The Citi Home Rebate Platinum Select Card is another good replacement for the Citi Dividend Platinum Select. For 12 months, this card earns a 6% rebate benefit on purchases on utilities, cable and satellite television, internet connection, and telecommunications services. After 6 months, this rebate is reduced to 1%, the same as the rebate for all other purchases.

If you don’t want to use this card for purchases, consider balance transfers. During this promotion, no interest is charged on transfers for one year.

As always, these credit card rewards are not for everyone. If you pay interest or late fees, you won’t benefit from any special offers. Only consider opening new credit if you are an expert at managing your own money and buy only what you can afford to pay each month.

Liz Pulliam Weston asked credit card experts for their recommendations for making the most of the rewards that the issuing companies offer. I’ve done well with my Citi Dividend Platinum Select and now my American Express Blue Cash for Business, but it’s interesting to see what is recommended by those who live and breathe credit cards.

Travel Rewards

For travel programs, the winners were American Express Starwood Card and the Diners Club MasterCard. With the Starwood Card, you earn 10,000 points after the first purchase which can be redeemed for up to 3 nights at a hotel. More rewards come quickly afterward. Read about all the benefits here.

The runners up in the travel category were the American Airlines AAdvantage® MasterCard, United Mileage Plus Visa, Choice Privileges Visa, and Citi PremierPass Elite MasterCard.

Cash Back Rewards

Cash back is my personal favorite type of reward. The top card picked by the experts is the American Express Blue Cash, which offers 5% cash back on “everyday purchases” and 1.5% cash back on everything else. In order to reach this level of reward, the card requires a total yearly charge of at least $6,500. As Liz points out, if you charge less than $2,500 on the card each month, the Chase Freedom Visa will be a better choice with its offer of 3% cash back on each month’s most charged category and 1% on all other purchases. With this card, you’ll also receive an additional $50 cash back after your first purchase. MSN claims 200 points earns you $250 cash back with this card, so the cash back rebate is effectively 1.25%, but I can’t find any evidence of this.

The runners up in the cash back category include the Citi Professional Cash Card and Discover Motiva. I still run across some stores that don’t accept Discover Cards, so that wouldn’t be my choice if you intend on carrying only one card.

Savings Rewards

If you’re saving for a child’s future education, a number of cards offer options that provide savings incentives each time you charge. The Fidelity Investments 529 College Rewards American Express Card is the clear winner, particularly for an investor with a 529 education savings account at Fidelity. 1.5% of your purchases, up to $1,500, are credited to your 529 account annually.

I formerly used a Citi Upromise MasterCard, the runner up in this category. With this card, 1% of all purchases is deposited into a holding account at Upromise which can later be invested in a 529 or returned to you in the form of a check. The latter was my option. In addition to the 1% rebate, the Upromise card is also now offering 2% on ExxonMobil purchases and 10% cash back on certain supermarket and grocery store items.

Cards honorably mentioned by the experts on MSN include the Citi Home Rebate Platinum Select MasterCard, GM Flexible Earnings and NestEggz Platinum Visa Card. This is the first I’ve heard of the NestEggz Card, which offers a 1% rebate and a $25 incentive for using the card, to be deposited into a qualifying retirement account.

Summary: MSN’s 15 Credit Cards With The Best Rewards

1. American Express Starwood Card (Travel)
2. Diners Club MasterCard (Travel)
3. American Airlines AAdvantage® MasterCard (Travel)
4. United Mileage Plus Visa (Travel)
5. Choice Privileges Visa (Travel)
6. Citi PremierPass Elite MasterCard (Travel)
7. American Express Blue Cash (Cash Back)
8. Chase Freedom Visa (Cash Back)
9. Citi Professional Cash Card (Cash Back)
10. Discover Motiva (Cash Back)
11. Fidelity Investments 529 College Rewards American Express Card (Savings)
12. Citi Upromise MasterCard (Savings)
13. Citi Home Rebate Platinum Select MasterCard (Savings)
14. GM Flexible Earnings (Savings)
15. NestEggz Platinum Visa Card (Savings)

The 15 Most Rewarding Credit Cards [MSN Money]