If the points and miles game seems confusing and you’re not ready to transfer points and redeem miles, a cashback credit card is a great, straightforward option. Cashback cards are simple. Once you earn enough points, you can redeem them for a check or a statement credit.
- Best Cash Back Credit Cards For Small Business
- 10% Cash Back Credit Card
- Best Cash Back Credit Cards Canada
With one of these cards you’ll often get a penny back for every dollar you spend on most purchases, which is a 1 percent return. But some cards offer more. A good return rate on a cashback card is 5 percent, which is like getting five cents back per dollar spent. However, you can get as much as 10 percent cash back under the right circumstances and with the right card. Cashback rewards can be extremely lucrative when used systematically. And remember, a penny earned is a penny saved!
8 Top Rated Credit Cards for Earning Cash Back
Many cashback credit cards reward cardholders with return rates of one to 5 percent. You can increase the rewards you earn by being familiar with your cards. Different credit cards will reward you differently for different types of spending. When comparing cashback credit cards, you should have at least one good everyday card as well as a mix of specialty cards and cards that have rotating category spending bonuses. Having several cashback credit cards can also help you take full advantage of several categories at the same time and give you the most potential to maximize your rewards.
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0% intro on purchases for 15 months
0% intro on balance transfers for 15 months
16.24% - 26.24% (Variable)
$0
Capital One® Cash Back Rewards
- One-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase, every day
- No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
- 0% intro APR on purchases for 15 months; 16.24%-26.24% variable APR after that
- 0% intro APR on balance transfers for 15 months; 16.24%-26.24% variable APR after that; 3% fee on the amounts transferred within the first 15 months
- Pay no annual fee or foreign transaction fees
Featured Benefits
Travel Upgrades and Savings:
With your access to the Luxury Hotels & Resorts program, you can enjoy complimentary room upgrades, early check in and late checkout, subject to availability.
Travel Protection:
Get reimbursed up to $1,500 per trip for non-refundable travel costs if your trip is canceled or ends early.
Wi-Fi:
Only A-List Preferred status members get inflight Wi-Fi at no charge.
Why should you get this card?
- Great Earning Potential: For every purchase you make you’ll earn 1.5% cash back. It doesn’t get any easier than that!
- Hassle-Free Redemptions: You can redeem your cashback at any time with no minimums! You’ll either get a statement credit or a check in the mail—whatever works for you.
- Great Sign-Up Bonus: This card comes with a sign-up bonus of $150 after spending only $500 within the first 3 months. After a few cell phone payments and trips to the grocery store, you’ll have a cool $150 very quickly!
- No Annual Fee: No matter how you use your card, you won’t pay an annual fee. You don’t have to worry about paying a hefty annual fee and all the rewards are all yours.
Our Expert's Conclusion
Capital One’s Quicksilver card is a great card for earning cash back. If you want to simplify your walletand you value cash more than miles and points, this is the card for you. Since you can earn 1.5 percentback on every single purchase you make and never pay an annual fee, you can earn some serious cashon everyday purchases, big ticket items, all types of travel or whatever else you choose.
Again, since this card has no annual fee, there’s little downside to the Quicksilver credit card. Yet, it stillcomes with the elevated MasterCard World Elite protections. As far as travel cards go, this is not apremium card that helps earn status, free checked bags or lounge access, but if you’re an occasionaltraveler or prefer to fly economy, this card is still a good bet. The cashback you earn can be used towardtravel or any other purchase you make. Flexibility makes this a great card.
- One-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase, every day
- No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
- 0% intro APR on purchases for 15 months; 16.24%-26.24% variable APR after that
- 0% intro APR on balance transfers for 15 months; 16.24%-26.24% variable APR after that; 3% fee on the amounts transferred within the first 15 months
- Pay no annual fee or foreign transaction fees
Rating: 97/100
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0% intro on purchases for 15 months
0% intro on balance transfers for 15 months
16.24% - 26.24% (Variable)
$0
Capital One® Cash Back Rewards
- Earn a one-time $150 cash bonus after you spend $500 on purchases within the first 3 months from account opening
- Earn unlimited 3% cash back on dining and entertainment, 2% at grocery stores and 1% on all other purchases
- No rotating categories or sign-ups needed to earn cash rewards; plus cash back won't expire for the life of the account and there's no limit to how much you can earn
- 0% intro APR on purchases for 15 months; 16.24% - 26.24% variable APR after that
- 0% intro APR on balance transfers for 15 months; 16.24% - 26.24% variable APR after that; 3% fee on the amounts transferred within the first 15 months
- No foreign transaction fees
- No annual fee
Featured Benefits
No Foreign Transaction Fee:
You will never be charged additional fees for using this card while traveling abroad.
Why should you get this card?
- Great Earning Potential:You’ll earn bonus points at restaurants and grocery stores. You’ll get 3.0 and 2.0 percent cash back, respectively, by spending in those categories.
- No Annual Fee:There’s no risk involved with the SavorOne card, and all the rewards you earn cost you nothing to keep.
- Hassle-Free Redemptions:Rewards can be used for statement credits toward any expense. Redeem cash back at any time, in any amount and toward any purchase.
- Sign-Up Bonus:Spending just $500 on the card in the first 3 months will net you $150 straight in your pocket. What’s better than free money?
Our Expert's Conclusion
The SavorOne card from Capital One is a decent option for consumers who spend a lot on dining and at grocery stores. The card costs nothing and earns 3 percent cash back at restaurants and 2 percent cash back on groceries. Being awarded $150 after spending $500 in three months makes the card even more appealing.
However, and this applies to all cashback cards, the rewards are limited. Why? Because the points are worth one cent each no matter how you redeem them. There isn’t a way to increase this value by, for instance, booking travel or transferring points to partners.
- Earn a one-time $150 cash bonus after you spend $500 on purchases within the first 3 months from account opening
- Earn unlimited 3% cash back on dining and entertainment, 2% at grocery stores and 1% on all other purchases
- No rotating categories or sign-ups needed to earn cash rewards; plus cash back won't expire for the life of the account and there's no limit to how much you can earn
- 0% intro APR on purchases for 15 months; 16.24% - 26.24% variable APR after that
- 0% intro APR on balance transfers for 15 months; 16.24% - 26.24% variable APR after that; 3% fee on the amounts transferred within the first 15 months
- No foreign transaction fees
- No annual fee
Rating: 89/100
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0% introductory APR through your 12/2018 billing period
N/A
15.49% to 24.99% Variable±
$0
- 5,000 Sony Rewards bonus points after your first card purchase. That’s like $50 in Sony Rewards points.
- 5X points on PlayStation® Store purchases.
- 5X points on PlayStation® and Sony purchases at authorized retailers with purchase confirmation.
- 3X points on your monthly mobile phone bill.
- 1X points on all other purchases.
- 50% back as a statement credit off a 12-month PlayStation®Plus Membership after you spend $3,000 on any purchases you make within a year.
- 10% back as a statement credit off the following entertainment services: PlayStation™Vue, PlayStation Music, PlayStation™Now.
- No annual fee.
Why should you get this card?
- Special Financing: Although the PlayStation card does not offer a special installment plan for Sony purchases, it does offer an introductory 0% APR offer for any purchases. This APR is valid through the statement period in May 2018. You’ll have to be diligent, make scheduled minimum payments and pay off your balance prior to the deadline or you will be charged the normal APR of 14.99% to 24.99%.
- Customer Perks: You don’t have to be a PlayStation credit card holder to join the Sony Rewards Program, but your earnings will accelerate and your experience will be enhanced when you do have the card. Because cardholders earn 5 points per dollar spent on PlayStation and Sony, their rewards add up faster. The sooner you build up rewards points, the sooner you’ll be able to redeem your points on options from the gigantic Sony Rewards Catalog. Cardholders also receive advanced access to special music and entertainment events.
Our Expert's Conclusion
If you’re big into gaming, you could have a lot of fun with the PlayStation Card. You could simply join the free Sony Rewards Program and earning with that membership alone, but having the PlayStation card elevates the program to another level.
You’ll earn points by spending on the card, get 10 percent statement credits for PlayStation Vue, PlayStation Now and PlayStation Music purchases and 50 percent back on a PlayStation Plus membership if you spend $3,000 in a year. You’ll also have ways to earn additional Sony Rewards, including shopping through their Marketplace, taking advantage of special deals and completing certain activities.
- 5,000 Sony Rewards bonus points after your first card purchase. That’s like $50 in Sony Rewards points.
- 5X points on PlayStation® Store purchases.
- 5X points on PlayStation® and Sony purchases at authorized retailers with purchase confirmation.
- 3X points on your monthly mobile phone bill.
- 1X points on all other purchases.
- 50% back as a statement credit off a 12-month PlayStation®Plus Membership after you spend $3,000 on any purchases you make within a year.
- 10% back as a statement credit off the following entertainment services: PlayStation™Vue, PlayStation Music, PlayStation™Now.
- No annual fee.
Rating: 94/100
N/A
0% 18 months on Balance Transfers*
15.74% - 25.74%* (Variable)
$0
Citi® Double Cash Reward Program
- Earn 2% cash back on purchases 1% when you buy and 1% as you make payments for those purchases
- To earn cash back, pay at least the minimum due on time
- 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 15.74% - 25.74% based on your creditworthiness.*
- Balance Transfers do not earn cash back
- Click 'Apply Now' to see the applicable balance transfer fee and how making a balance transfer impacts interest on purchases
- No categories to track, no caps on cash back, no annual fee*
Featured Benefits
Concierge service:
Citi Concierge helps you save valuable time with a staff of specially-trained experts who are ready to assist you with your travel, shopping, dining, entertainment and everyday needs.
Foreign Transaction Fee:
Why should you get this card?
- No Annual Fee:You’ll never have to pay anything for this card. That means all of the rewards you earn are pure bonus!
- 2% Cash Back on Everything:You don’t need to keep track of specific categories that earn more or less cash back; everything earns 2%!
- No Caps on Your Earning:Some credit cards that offer higher cash back have a cap on how much you can earn, but not with the Citi Double Cash.
- Late Fee Pass:If you accidentally miss a payment, Citi has you covered and won’t charge you a late fee–but only once.
Our Expert's Conclusion
The Citi Double Cash mostly makes sense under two circumstances. The first is for someone who isseeking simplicity. Since the Double Cash card doesn’t have rotating or any other type of bonuscategories to worry about, all you have to do is swipe, pay off your card and reap the benefits!
The second type of person that the Double Cash makes sense for is someone who has a few otherrewards cards that cover popular purchase categories, like groceries, gas and travel, but they’re lookingfor a card for other purchases that otherwise would not earn a bonus. The Double Cash is a great optionfor that!
- Earn 2% cash back on purchases 1% when you buy and 1% as you make payments for those purchases
- To earn cash back, pay at least the minimum due on time
- 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 15.74% - 25.74% based on your creditworthiness.*
- Balance Transfers do not earn cash back
- Click 'Apply Now' to see the applicable balance transfer fee and how making a balance transfer impacts interest on purchases
- No categories to track, no caps on cash back, no annual fee*
Rating: 90/100
Apply Now
0% Intro APR on Purchases for 15 months
0% Intro APR on Balance Transfers for 15 months
17.24% to 25.99% Variable
$0
Ultimate Rewards®
- 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 17.24% to 25.99%. Balance transfer fee is 3% of the amount transferred, $5 minimum
- Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
- Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate
- Enjoy new 5% categories each quarter
- Unlimited 1% cash back on all other purchases - it's automatic
- Cash Back rewards do not expire as long as your account is open and there is no minimum to redeem for cash back.
- Free credit score, updated weekly with Credit Journey℠
- No annual fee
Featured Benefits
Foreign Transaction Fee:
Best to leave this one at home when you travel abroad. You’ll be a 3% fee on all international transactions.
Why should you get this card?
- Awesome Earning Potential:You’ll get 5 points per dollar spent in rotating bonus categories. The categories, which typically include everyday expenses like gas, dining out and groceries, change every quarter.
- No Annual Fee:With no annual fee, the Freedom card is easy to add to your arsenal of rewards cards. It’s also great for building credit since you can keep it forever at no cost and increase the age of your credit.
- Solid Sign-Up Bonus:While the 150 pointssign-up bonus isn’t the biggest you’ll find, it isn’t bad for a no-fee card!
- Compliments Other Ultimate Rewards Cards:It’s easy and free to transfer the points you earn with this card to other UR cards. And if you have a premium UR card, like the Sapphire Preferred, you’ll get even more value out of your points.
Our Expert's Conclusion
The short answer is yes! With no annual fee and impressive earning potential, this card is really a no-brainer. Even if you don’t have a premium Ultimate Rewards card, the Chase Freedom is still an excellent cashback card.
The only drawback is that it takes a little bit of work to get the most out of this card. You have to register every quarter for the bonus categories, and you have to remember what they are when you’re making purchases. You don’t want to use this card for all of your spending because it earns only one point per dollar in non-bonus categories.
- 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 17.24% to 25.99%. Balance transfer fee is 3% of the amount transferred, $5 minimum
- Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
- Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate
- Enjoy new 5% categories each quarter
- Unlimited 1% cash back on all other purchases - it's automatic
- Cash Back rewards do not expire as long as your account is open and there is no minimum to redeem for cash back.
- Free credit score, updated weekly with Credit Journey℠
- No annual fee
Rating: 89/100
N/A
N/A
17.49%* (Variable)
$0
Costco Cash Rewards
- Exclusively for Costco Members: Go Big with Cash Back Rewards
- 4% cash back on eligible gas for the first $7,000 per year and then 1% thereafter
- 3% cash back on restaurants and eligible travel purchases
- 2% cash back on all other purchases from Costco and Costco.com
- 1% cash back on all other purchases
- No annual fee with your paid Costco membership*
Featured Benefits
Bonus Cash Back for Travel:
You’ll get 3% back for travel purchases, including airfare, hotels and car rentals
Foreign Transaction Fee:
This card does charge a 3% foreign transaction fee, so it’s best not to use it outside of the United States
Why should you get this card?
- Great Earning Potential:You’ll earn an unlimited 3% back on travel and restaurants, 2% back on Costco purchases, and 1% everywhere else with no caps. You also earn 4% back on gas for up to $7,000 a year.
- 0% APR for the First 7 Months:Need to make a big purchase? You can spread out your payments with 0% interest for the first 7 months you have the card. Just be sure to continue making at least the minimum payment and know that interest kicks in on any remaining balance after the introductory period.
- Straightforward Redemption:Redeeming rewards is simple as Citi mails your annual cashback certificate each February. It can be redeemed at Costco for merchandise or cash.
- No Annual Fee:You’ll never have to pay anything for this card. That means all the rewards you earn are essentially free. How can you beat that?
Our Expert's Conclusion
Like to shop at Costco? Then this is definitely a card you should keep in your wallet. Not only do you earn 2 percent back on every Costco purchase, but you can earn cash back for gas, dining out, travel and more. And since there’s no annual fee, all the rewards you earn are yours. You may not want this to be your only card, though, because you will incur foreign transaction fees if you use it outside the United States or if you make purchases in non-U.S. dollars.
If you don’t live near a Costco, you can still use this card for online purchases (assuming you’re a member), but you may not get as much value as those who can get to a nearby store. Also, if you like to have more flexibility with your rewards, this may not be the card for you. And if travel rewards are what you seek, the Costco Visa should not be your first choice.
- Exclusively for Costco Members: Go Big with Cash Back Rewards
- 4% cash back on eligible gas for the first $7,000 per year and then 1% thereafter
- 3% cash back on restaurants and eligible travel purchases
- 2% cash back on all other purchases from Costco and Costco.com
- 1% cash back on all other purchases
- No annual fee with your paid Costco membership*
Compare Cash Back Credit Cards
Compare all credit cards by RE® Value, which is an estimateof how much you will earn during first year of credit carduse minus annual fees.
Capital One® Quicksilver® Cash Rewards Credit Card
- $150 sign-up bonus.
- $360 for everyday spend.
Capital One® SavorOne℠ Cash Rewards Credit Card
- $150 sign-up bonus.
- $240 for everyday spend.
PlayStation® Card
- 5,000 points sign-up bonus.
- 24,000 points for everyday spend.
Blue Cash Everyday® Card from American Express
- $150 sign-up bonus.
- $240 for everyday spend.
Blue Cash Preferred® Card from American Express
- $200 sign-up bonus.
- $240 for everyday spend.
Chase Freedom Unlimited®
- 15,000 points sign-up bonus.
- 36,000 points for everyday spend.
Chase Freedom®
- 150 points sign-up bonus.
- 24,000 points for everyday spend.
Amazon Rewards Visa Signature Card
- 0 points sign-up bonus.
- 24,000 points for everyday spend.
AARP® Credit Card from Chase
- 10,000 points sign-up bonus.
- 24,000 points for everyday spend.
Citi® Double Cash Card – 18 month BT offer
- $ sign-up bonus.
- $480 for everyday spend.
Costco Anywhere Visa® Card by Citi
- $0 sign-up bonus.
- $240 for everyday spend.
NFL Extra Points Credit Card
- 10,000 points sign-up bonus.
- 24,000 points for everyday spend.
Priceline Rewards™ Visa® Card
Best Cash Back Credit Cards For Small Business
- 5,000 points sign-up bonus.
- 24,000 points for everyday spend.
U.S. Bank Cash 365™ American Express® Card
- $150 sign-up bonus.
- $360 for everyday spend.
U.S. Bank Cash+™ Visa Signature® Card
- $150 sign-up bonus.
- $240 for everyday spend.
Ten Strategies for Maximizing Reward Rates on Cashback Credit Cards
Using different cards for different purposes can help you get the most out of your credit cards. Below are some things to consider when you make your game plan to reach the highest reward rates on your credit cards. Remember, you don’t have to choose just one card or stick with a card forever. It is healthy for your credit score to have at least 11 open rotating lines of credit. Also, the more cards you have, the higher your credit limit, which will help with for your credit utilization and debt-to-credit ratio, ultimately improving your credit score. However, I don’t advise applying for more than one card at a time, and you should be sure to meet any minimum spending requirements needed to earn the sign-up bonus before obtaining your next card.
Strategy #1: Have at Least One Good Everyday Card
A good everyday card is one that earns more than 1 percent return on all purchases. When making smaller purchases that don’t fall into a specific bonus category with a higher return, you’ll want to use your everyday card. Savvy rewards earners use their credit cards for everything, no matter how big or small.Many cashback cards offer just 1 percent on all purchases, but you don’t have to settle for that. When looking for a cashback card to use for everyday spending, you will want one that awards the most on all purchases. The Capital One® Quicksilver® Cash Rewards Credit Card from Capital One is a good example of an everyday card. Instead of offering the usual 1 percent back on purchases, this card offers an unlimited 1.5 percent back. In addition, Quicksilver cardholders also receive a one-time bonus of $100 if they spend $500 within the first three months.Strategy #2: Consider Several Specialty Cards
These are cards that focus on specific types of purchases and consistently give you a high reward rate for certain bonus categories. A good specialty card typically offers at least 2 percent cash back in two or more shopping categories. These cards usually offer larger cash back bonuses on select qualifying purchases, even when compared to good everyday cards.An example of a good cashback specialty card is the Premier Dining Rewards From Capital One. This card allows you to earn unlimited 3 percent cash back on dining, as well as 2 percent cash back on groceries and 1 percent on all other purchases.When comparing cards, be sure to consider your spending habits. Depending on the card, you can earn bonus rewards for a variety of different purchases, including things like gas, travel, groceries, entertainment and much more. If you want to maximize your cashback rewards, it’s a good idea to have a couple of these specialty cards in addition to your everyday card.Strategy #3: Take Advantage of Rotating Bonus Categories
Some cashback credit cards have bonuses for rotating categories of purchases. These types of cards have large cashback bonuses for certain types of purchases, which change periodically throughout the year. It may be in your best interest to have several of these cards so you can switch between them as the bonus categories change.For example, the Discover it® Cash Back card offers 5 percent cash back in rotating categories every quarter. Some of these include purchases made from Amazon, gas stations, restaurants and wholesale clubs. Credit cards that award spending bonuses in rotating categories are great due to the large quarterly rewards you can earn.Strategy #4: Earn Sign-Up Bonuses and One-Time Offers
Many of the best cashback cards offer a sign-up bonus. These sign-up bonuses give you a significant cashback bonus when you spend a certain amount on that card within an allotted period of time. Additionally, one-time offers are bonuses that you will only receive once, they will not be ongoing or on an annual basis, but they can definitely put some quick cash, back in your pocket.Good examples of a cashback cards that come with both a sign-up bonus and a one-time offer include the Blue Cash Everyday® Card from American Express and the Blue Cash Preferred® Card from American Express. You can get up to $350 cash back with these cards. By spending $1,000 within your first three months of having one of them, you can earn up to $150 cash back as a welcome bonus, depending on which card you have. Both of these cards include a one-time offer which allows you to get 10 percent cash back at restaurants within the first six months of having the card, for a total return of up to $200.Strategy #5: Pay Monthly Bills and Living Expenses
One of the best ways to consistently earn rewards with your cashback credit cards is by using them to pay all your monthly bills and living expenses. Almost any bill can be paid online with a credit card, meaning that you can use a credit card to pay for a lot more than just your phone bill. A few examples of monthly bills that should be paid for with your cashback card include cable, internet, phone, insurance and utilities like gas, water and electricity. Also, any other recurring monthly expenses, such as subscription services like Netflix and Amazon Prime, should be attached to your credit card.You can also use your credit card to pay things you may not have considered before, like your car payments and insurance. There are even third party services available that allow people to pay their rent or mortgage with their credit card. You can also pay your taxes with your card, including property and income taxes. Some payment services charge a flat fee, while others take a percentage of the total payment. If there is a third-party service you are using to make a payment, consider any fees related with the service and make sure the rewards outweigh the cost.In addition to monthly bills that you can pay with your credit card, there are also a great deal of regular living expenses that you cover with your cashback card, like food, clothing, health care and hygiene products. There is almost no limit to the type of monthly bills or living expenses that you can charge to your card and the rewards you can earn.Strategy #6: Make Large Purchases
A fast way to boost your cashback rewards is to use your card for all your large purchases. Even at the lowest cashback rates, large purchases will allow you to earn a great deal of rewards in one transaction. I also want to caution anyone against using special financing or store credit cards that advertise special financing for large purchases. Many times, when you see a card or a promotion that is labeled as interest free or special financing, it is usually referring to deferred interest. This means that if you do not pay your balance in full by the end of the interest-free period, you can get slapped with interest dating back to the original date of purchase. This can cause you to get hit with a lump sum interest payment. It is much better to use your cashback credit card and get a lump sum of rewards instead.Strategy #7: Keep Track of Bonuses and Spending
Your cards will be most lucrative if you can keep track of spending bonuses and rewards. Whether you use a high-tech approach like an app or a website, or an old-school method like labeling your cards or creating a cheat sheet, you should be familiar with the best card to use for each purchase you make.There are many options to help you create and learn a strategy for your credit card spending. You can create a spreadsheet or just write a list. There are plenty of internet tools and apps to help as well. You will find that doing this will ultimately be a great reference and help you differentiate and use credit cards to the best of their ability. Eventually you won’t have to even think twice about it.Strategy #8: Know Your Limits
Some cards put limits on category spending. For example, the Costco Anywhere Visa® Card by Citi allows you to earn 4 percent cash back on gas, but only up to $7,000 a year. When you max out your rewards on one card, turn to another one. Don’t spend on a card if you are not earning the bonus anymore.Strategy #9: Try Double Dipping
Double dipping is when you use a loyalty program in conjunction with a rewards credit card. Many stores, airlines and hotels offer loyalty programs that allow you to earn rewards just for being a member. Why not earn double rewards by joining the loyalty program and paying with a rewards card?For the most part I avoid specific store credit cards. They have notoriously high interest rates and, in many cases, you can get the rewards without the credit card. By joining their loyalty program and paying with a cashback credit card you can get rewarded on both sides.Strategy #10: Consider Business Cards
Cashback business credit cards can be another avenue to increase your rewards rate for bonus spending categories. You don’t need a storefront or a corporation to get one. If you have a side business, like buying and selling stuff on ebay or renting a room on Airbnb, you can get a small business card. No matter how small your side hustle is, you can qualify, which can help you increase your rewards rates in the realm of things like office supplies and internet services.
FAQs
Need more info? Check out our frequently asked questions.If you have other questions, don't hesitate to leave a comment below.
How many credit cards should I have?
There is no limit to the number of credit cards you should have. However, you should have at least 11 open accounts, though more than 21 is optimal. These don’t all have to be credit card accounts. Lenders like to see a variety of credit lines.Never apply for more than one card at a time and never apply for too many cards in a short time span. This could make you look desperate for credit, which lenders don’t like to see either. Always give yourself time to complete the necessary amount of spending to get the sign-up bonus before you get your next card.When you are maximizing rewards from cashback credit cards it is a good idea to have a variety of credit cards as well. To be able to get the highest percentage return and the most options, you should have at least one everyday card, several specialty cards and a variety of cards with rotating bonus categories.What kind of credit do I need to get a cashback credit card?
To get the best cashback credit cards you need good or excellent credit. If you have good or excellent credit, the options are almost limitless. If you have fair or poor credit, you should be taking steps to improve it.The better your credit, the more options you have. That’s true for not just in the world of credit cards, but also for life in general. Your credit score is like your health, you need to maintain it. Don’t wait until it goes downhill to the point where you have to take drastic measures to fix it. Take care of it and it will take care of you. If your credit has taken a turn for the worse, then wait no longer and revive it now.How to compare cashback credit cards?
When comparing cashback credit cards, there are some basic things to consider. Reward rates are key with cashback credit cards. You should never earn less than 1.5 percent, but 5 percent is optimal. Much of your decision should be guided by your spending habits. It doesn’t matter if a credit card has the highest reward rate on gas if you don’t drive.If you have good credit, there is no reason you should settle for a card that doesn’t give some kind of welcome bonus. Also consider one-time rewards, like the $50 Amazon gift card you get upon approval for the Amazon Rewards Visa Signature Card.While interest rates should be considered, if you want to get the most out of your rewards you really don’t want to carry a balance unless you have a no-interest promotional APR. Paying interest will easily take away from the value of your rewards.What is the best cashback credit card?
Determining which credit card offers the best cashback rewards is subjective. For the most part, it will depend on where you shop and how you spend your money. Cashback cards offer different rates and come with different features. Certain cards offer high rewards in specific shopping categories, while others offer a fixed rate for all purchases.Many of the cashback rewards credit cards that are out there offer 2 percent or more back in a specific shopping categories and only 1 percent for all other purchases. Anytime you can get 5 percent or more in a certain category, use that card.For example, the Blue Cash Preferred® Card from American Express earns 6 percent cash back at supermarkets with a $6,000 annual spending limit. Therefore, this is a good card to use to buy groceries, at least until you reach the limit. At that point you should switch cards. In addition, the Blue Cash Preferred allows you to collect unlimited 3 percent cash back at gas stations.If managing several cards seems like too much of a task and you just want a solid everyda card with a flat earning rate for all purchases, the Citi Double Cash card earns 2 percent back for everything. The first 1 percent is earned when the purchase is made, and another 1 percent is earned once the purchase has been paid for.How do I redeem my cashback rewards?
Redeeming your earnings for cash back is a simple process. Depending on your card, it’s usually quite easy to do online or over the phone. Most cashback cards have no minimum earning requirements, meaning that you will be able to start redeeming what you’ve earned before you even have to pay your first credit card statement.Most credit cards that offers cash back will allow you to redeem your cashback rewards for a statement credit or a check that comes in the mail. Some cashback programs will allow you to redeem rewards for more than just a statement credit or check. For instance, the cashback rewards that are earned with many Discover credit cards can be redeemed on purchases made from Amazon.There are also many cashback card issuers that will allow you to redeem for gift cards and make donations to charity. You may also have the option of gifting your rewards by transferring them to another account.
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CASH BACK RATING
5.0
OVERALL RATING
5.0/5.0
- New Offer! Double Cash Back: Earn 3% cash back on all purchases in your first year up to $20,000 spent. After that earn unlimited 1.5% cash back on all purchases.
- 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 17.24-25.99%. Balance transfer fee is 3% of the amount transferred, $5 minimum
- No minimum to redeem for cash back
- Cash Back rewards do not expire as long as your account is open
- Free credit score, updated weekly with Credit Journey℠
- No annual fee
Intro (Transfers) | Annual Fee | |
---|---|---|
0% Intro APR on Purchases 15 months | 17.24% - 25.99% Variable | Good/Excellent |
Cash-back credit cards generally fall under one of three different categories of rewards programs. Which one is best for you depends what you spend, where you spend, and how much effort you want to put into collecting cash back on every swipe of your card.
Flat cash-back credit cards -- These are the simplest cash-back cards, because they offer flat cash-back rewards every time you make a purchase. These cards usually offer unlimited cash back equal to 1% to 2% of your purchases. The key advantage of these cards is that all spending earns rewards at the same rate, making them a great pick for a “one-card” wallet. Rewards are typically unlimited, so you earn the same cash-back rate whether you spend $10 or $10 million.
Bonus category cards -- Some cash-back cards offer enhanced rewards rates on certain types of spending. Bonus category cards are best for people who spend a disproportionate amount in a particular category (groceries or gas, for example).
Rotating bonus category cards -- These cards offer a high cash-back bonus approximating 5% on certain types of spending, in addition to a flat amount of cash back around 1% on all other types of spending.
Advertiser Disclosure: This post includes references to offers from our partners. We may receive compensation when you click on links to those products. However, the opinions expressed here are ours alone and at no time has the editorial content been provided, reviewed, or approved by any issuer.
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Cash back credit cards are popular because they provide tangible, easy-to-understand benefits. Who doesn’t like getting a credit on their monthly credit card statement – or, better yet, actual cash deposited into the account of their choice? Cash back credit cards can be even more popular than our top-rated gas credit cards and travel rewards cards.
But not all cash back credit cards are created equally.
Some offer the same cash back rate on all purchases. Others offer higher cash back rates on certain spending categories, such as groceries or gas, and lower rates on everything else. Others offer bonus cash back on spending categories that rotate every quarter. A few accrue cash back on purchases and monthly payments. And some cash back cards even hew to hybrid models, with cash back on certain spending categories and different types of rewards (such as airline miles) on others.
You’ll find each type of card on this list of the best cash back cards available to U.S. consumers today. Keep in mind that most cash back credit cards require applicants to have good to excellent credit – usually indicated by a credit score above 700, and sometimes even higher. If you don’t meet that threshold, work on building your credit before applying.
Best Cash Back Credit Cards
1. Capital One® Quicksilver® Cash Rewards Credit Card
1.5% Cash Back on All Purchases; $150 Early Spend Bonus
The Capital One Quicksilver Cash Rewards Credit Card complements a host of other Capital One financial products, including the Capital One 360 banking platform. Its cash back perk is attractive and easy to understand: 1.5% cash back on all purchases, everywhere, with no spending caps or rotating categories. You can redeem cash back for a statement credit, bank account deposit, or gift card.
If your spending spans a wide range of categories, this is one of the better general-purpose cash back cards. However, it’s not as strong a choice if you’re looking to maximize your spending in specific categories, such as grocery purchases or travel.
Quicksilver is designed for applicants with good to excellent credit. If you have fair, average, or limited credit, consider applying instead for the Capital One QuicksilverOne Cash Rewards Credit Card, which offers easier qualification for applicants with less-than-perfect credit.
See our Capital One QuicksilverOne Cash Rewards Credit Card Review for more information. Learn more about QuicksilverOne and find out how you can apply here.
Here’s what you need to know about the Capital One Quicksilver Cash Rewards Credit Card:
- Early Spend Bonus: Earn $150 when you make $500 in qualifying purchases within 3 months of opening your account.
- Cash Back Rate: Unlimited 1.5% cash back on all purchases.
- Redemption: Redeem in any amount for statement credits, bank account deposits, or gift cards. You can also set up automatic redemptions at predetermined thresholds ($25, $50, $100, or $200) and receive your cash back in your preferred mode when you hit the threshold.
- Introductory APR: 0% purchase and balance transfer APR for the first 15 months.
- Key Fees: There’s no annual fee or foreign transaction fees. Cash advances cost the greater of $10 or 3%.
- Other Perks: Card membership automatically entitles you to Visa Signature benefits, including travel upgrades, exclusive shopping discounts, and preferred seating at sporting events and concerts.
See our Capital One Quicksilver Cash Rewards Review for more information. Find out how you can apply for this card here.
2. Capital One® Savor® Cash Rewards Credit Card
10% Cash Back Credit Card
Unlimited 4% Cash Back on Dining and Entertainment; 2% Cash Back at Grocery Stores; 1% Cash Back Everywhere Else; $300 Early Spend Bonus
Capital One® Savor® Cash Rewards is a premium cash back card designed with foodies in mind. Its unlimited cash back rewards program returns 4% on dining and entertainment spending and 2% on grocery store spending – a nice balance for cardholders who can’t decide whether to eat out or stay in.
The $95 annual fee is worth noting upfront, but the first-year waiver ensures it won’t erode the value of this card’s generous early spend bonus. If you’re looking for a card that helps you save money at restaurants and rewards you during the first few months of membership, Savor should be high on your list.
- Early Spend Bonus: Get $300 in bonus cash when you spend $3,000 in qualifying purchases within 3 months of opening your account.
- Cash Back Rate: Unlimited 4% cash back on eligible dining and entertainment purchases, unlimited 2% cash back on eligible grocery store purchases, and unlimited 1% cash back on all other purchases. Cash back never expires and there’s no limit to how much you can earn.
- Redemption: Redeem in any amount for statement credits or mailed checks. You can also redeem for gift cards, merchandise, and other items, at variable redemption values. Capital One allows automatic, recurring redemptions at four pre-set thresholds: $25, $50, $100, or $200.
- Introductory APR: None.
- Key Fees: $0 in the first year, then $95. There is no foreign transaction fee. Cash advances cost the greater of $10 or 3%.
- Other Perks: Through December 2019, enjoy a recurring statement credit against a Postmates Unlimited monthly membership. This card comes with a slew of World Elite Mastercard benefits, such as trip cancellation and interruption coverage (a form of travel insurance), price protection, complimentary rental car insurance, and more.
See our Capital One® Savor® Cash Rewards Review for more information. Find out how you can apply for this card here.
3. Blue Cash Preferred® Card from American Express
6% Cash Back at U.S. Supermarkets and Select Digital Media Services; 3% at U.S. Gas Stations and Transit Operators (Including Rideshare); 1% Everywhere Else
If you love the supermarket, you’ll love the Blue Cash Preferred Card from American Express. You get 6% cash back on all U.S. supermarket transactions, up to a $6,000 annual spending limit. Once you hit $6,000, you get 1% back on U.S. supermarket purchases, with no upper limit.
You’ll also get unlimited 6% cash back on eligible purchases with digital media and streaming providers such as Netflix and HBO.
There’s no spending limit on the U.S. gas station and transit operator categories – you get 3% cash back on every $1 spent in those places, period. American Express treats rideshare operators such as Lyft and Uber as transit operators, which is great news for those who frequently use those services. And you get 1% cash back on all other purchases, with no limits. Cash back comes by statement credit.
Another smaller drawback of the Blue Cash Preferred card is American Express’s restrictive definition of “supermarket.” Superstores like Walmart, wholesale clubs like Costco, and alcohol retailers aren’t considered as supermarkets for this card’s purposes. The annual fee does cut into your earning potential somewhat – but since the 6% supermarket cash back doubles what most competing cards offer, you’re still likely to come out ahead if you take full advantage of this category.
If you’re struggling to meet your $6,000 annual supermarket spending limit with food and dry goods purchases alone, make up the difference by purchasing other merchants’ gift cards at the supermarket checkout counter. It’s like getting an immediate 6% discount at your favorite restaurants, retailers, and e-commerce websites.
- Welcome Offer. If you make $1,000 in qualifying purchases within 3 months of signing up, you get a $250 statement credit.
- Cash Back Rate. Earn unlimited 6% cash back on select digital media and streaming services like Netflix and HBO. Earn 6% cash back at U.S. supermarkets, up to $6,000 in spending per year. After that, you receive 1% cash back at supermarkets. This card offers unlimited 3% cash back at U.S. gas stations and transit operators, including rideshare companies like Uber and Lyft. Finally, earn 1% cash back on everything else.
- Redemption. The minimum redemption is $25. You can redeem in $25 increments ($25, $50, $75, and so on) for statement credits, and in variable amounts for gift cards and general merchandise.
- Introductory APR. 0% APR on purchases and balance transfers for 12 months.
- Regular APR: Following the end of the introductory period, the regular APR ranges between 15.24% to 26.24% APR for purchases and balance transfers, depending on prevailing rates and your personal creditworthiness.
- Key Fees. There’s a $95 annual fee. The foreign transaction fee is 2.7%.
- Other Perks. If you attempt to return a purchased item within 90 days and the merchant refuses to accept it, Amex’s Return Protection policy refunds the item’s entire purchase price, up to $300 per item and $1,000 per calendar year.
See our American Express Blue Cash Preferred Review for more information. Find out how you can apply for this card here.
4. Wells Fargo Cash Wise Visa® Card
Unlimited 1.5% Cash Back on all Purchases; $150 Sign-up Bonus
Wells Fargo Cash Wise Visa is one of a growing cohort of “1.5% cards” – cash back credit cards that earn a flat, unlimited 1.5% return on spending. It comes with a nice sign-up bonus, too – a $150 cash bonus that requires just $500 in spending within the first 3 months, to be exact.
Once you clear the $20 cash back threshold, you can reap your rewards at Wells Fargo ATMs nationwide. When you hit $25, additional doors open – you can then redeem for paper checks, statement credits, or deposits into your Wells Fargo bank account. If you’re already a Wells Fargo deposit account holder, this card comes with low-cost overdraft protection transfer capabilities too. Just remember to opt in after signing up.
- Sign-up Bonus: When you make $500 in qualifying purchases within 3 months of sign-up, you get a $150 cash bonus.
- Cash Back Rate: Unlimited 1.5% cash back on all purchases, including Apple Pay and Android Pay purchases made after the 12-month introductory period.
- Redemption: The minimum redemption is $20 to $25, depending on how you choose to redeem. ATM redemptions allow the lower threshold.
- Introductory APR: 0% APR on purchases and balance transfers for 15 months.
- Key Fees: There’s no annual fee. The foreign transaction fee is 3%. During the first year, balance transfers cost either $5 or 3% of the amount of each transfer, whichever is greater. After that, they cost the greater of $5 or 5%.
- Other Perks: The cell phone protection plan covers certain communications devices up to $600 per incident and $1,200 per year. Travel inconvenience coverage reimburses travelers for lost or damaged baggage. Overdraft protection transfers (opt-in) cost $12.50 to $20, depending on transfer size.
See our Wells Fargo Cash Wise Card Review for more information. Find out how you can apply for this card here.
5. Chase Freedom Unlimited®
Double Cash Back in the First Year (Up to $600); Then 1.5% Cash Back on All Purchases
Chase Freedom Unlimited is similar to the flagship Chase Freedom Card, but with an important distinction: Instead of flat 1% cash back and rotating 5% cash back categories with quarterly spending caps, it simply earns an unlimited 1.5% on all purchases. You can redeem for virtually anything, in any amount, at the Chase Ultimate Rewards® portal – including cash equivalents, merchandise, and travel.
Chase Freedom Unlimited has a great (and sometimes overlooked) perk for loyal Chase credit card customers. If you also have the Chase Ink Business Preferred ($95 annual fee) business card or the Chase Sapphire Preferred ($95 annual fee) travel rewards card, you can transfer points earned through Freedom Unlimited to those accounts. You can then transfer those points at a 1-to-1 ratio to a number of different frequent traveler programs, or redeem them for travel purchases through the Ultimate Rewards portal and receive a 25% bonus (for instance, boosting the value of a 50,000-point redemption to $625).
However, keep in mind that you need to obtain either Ink Preferred or Sapphire Preferred/Reserve – and remember, having Chase Freedom Unlimited doesn’t necessarily qualify you for those cards.
- Sign-up Bonus: Earn Double Cash Back – that’s 3% cash back on all purchases during the first year, up to $20,000 spent. After that, earn unlimited 1.5% cash back on all eligible purchases.
- Cash Back Rate: Unlimited 1.5% cash back on all purchases.
- Redemption: You can redeem your accumulated cash back rewards in any amount. Redemption methods include statement credits, bank account deposits, gift cards, general merchandise purchases made through Chase’s Ultimate Rewards portal and direct with third-party retailers such as Amazon, and travel purchases made through Chase’s Ultimate Rewards portal.
- Introductory APR: 0% introductory purchase and balance transfer APR for 15 months after account opening.
- Regular APR: Following the end of the introductory period, Chase Freedom Unlimited’s regular APR ranges from 17.24% to 25.99% variable, depending on prevailing interest rates and your personal creditworthiness. The cash advance APR is 27.24% variable. There is no penalty APR.
- Key Fees: There’s no annual fee. Balance transfers cost the greater of $5 or 3% of the transferred amount. Cash advances cost the greater of $10 or 5%, and foreign transactions cost 3% of the total transaction amount.
- Other Perks: Additional benefits include purchase protection (up to $500 per item for 120 days after purchase), price protection (reimbursement for up to $500 of the difference between your higher purchase price and a lower advertised price within 90 days of purchase), and a free credit score (updated weekly) with Chase Credit Journey.
See our Chase Freedom Unlimited Review for more information. Find out how you can apply for this card here.
6. Fidelity® Rewards Visa Signature® Credit Card
Unlimited 2% Cash Back Into Your Eligible Fidelity Account
The Fidelity® Rewards Visa Signature® Credit Card is a straightforward spending aid for applicants looking to boost contributions to qualifying Fidelity accounts – and those who simply enjoy earning cash back at above-average rates.
Cardholders who remain in good standing earn unlimited 2% cash back (2 points per $1 spent) on all eligible purchases, with no caps or restrictions on how much you can earn. Cash back doesn’t expire, and with no annual fee, you needn’t feel obligated to use this card as your primary spending aid.
The Fidelity Rewards Visa doesn’t have a ton of value-added perks aside from the standard slate of Visa Signature benefits, such as special travel and shopping offers. But it’s hard to argue with unlimited 2% cash back.
- Sign-up Bonus: There’s currently no sign-up bonus on the Fidelity Rewards Visa Signature Credit Card. Check back for updates.
- Cash Back Rate: Earn unlimited 2 points per $1 spent on all eligible purchases made with your Fidelity Rewards Visa Signature Credit Card. Points are worth $0.01 apiece at redemption, meaning this card effectively earns 2% cash back on all spending. Points don’t expire as long as your account remains open and in good standing.
- Redemption: The most popular way to redeem cash back is for deposits into eligible Fidelity accounts. That includes most taxable cash and securities accounts, plus most tax-advantaged Fidelity accounts, including IRAs, health savings accounts (HSAs), and Fidelity-managed 529 College Savings Plan accounts, subject to state and federal contribution limits and other limiting factors. You can also redeem for statement credits and certain types of travel, merchandise, and gift cards. The minimum redemption threshold is $50 (5,000 points) for account deposits and $25 (2,500 points) for all other options.
- Introductory APR: There’s presently no introductory APR promotion.
- Key Fees: This card has no annual fee. Foreign transactions cost 1% of the transaction amount. Cash advances and balance transfers both cost the greater of $5 or 3% of the transferred amount.
See our Fidelity® Rewards Visa Signature® Credit Card Review for more information. Find out how you can apply for this card here.
7. Citi® Double Cash Card
1% Cash Back When You Spend + 1% Cash Back When You Pay Your Balance; 0% APR on Balance Transfers for 18 Months
Citi Double Cash Card’s two-tiered cash back program rewards cardholders who pay their balances in full each month.
As long as you’re a cardholder in good standing, you’re guaranteed to earn 1% cash back on all eligible purchases that post to your Double Cash account. But you’ll only achieve the card’s effective 2% cash back rate when you pay off your balance in full – as you should, under normal circumstances.
2% cash back isn’t the only Double Cash benefit worth touting. The card’s 18-month 0% APR balance transfer promotion is among the best in the category, and the value-added perks are unusually generous for a no-annual-fee card.
- Sign-up Bonus: There’s presently no sign-up bonus on the Citi Double Cash Card. Check back for updates.
- Cash Back Rate: Earn unlimited 1% cash back on all purchases when they post to your account, then another 1% cash back on all balance payments, for a total effective cash back rate of 2% when you pay your balance in full. You must make at least the minimum payment to qualify for the 1% cash back rate on balance payments during that statement cycle. Cash back expires after 12 months of account dormancy (no purchases or redemptions).
- Redemption: The minimum redemption is $25.
- Introductory APR: 0% APR on purchases and balance transfers for 18 months.
- Key Fees: There’s no annual fee. The foreign transaction fee is 3%. Balance transfers cost the greater of $5 or 3% of the transferred amount.
See our Citi Double Cash Card Review for more information. Find out how you can apply for this card here.
8. HSBC Cash Rewards Mastercard® Credit Card
3% Cash Back in the First 12 Months, Then Unlimited 1.5% Cash Back on All Purchases
The HSBC Cash Rewards Mastercard® Credit Card is a straightforward cash back card with no annual fee and a generous introductory offer that’s worth up to $300 in bonus cash back when fully exploited.
Moving forward, the Cash Rewards Mastercard is one of many unlimited 1.5% cash back cards. But it’s far from typical, thanks to a 10% cash back bonus on your cardmember anniversary, a nice 0% APR introductory promotion, no foreign transaction fees, and a host of retail perks like free 2-day shipping on purchases from more than 100 online stores.
Just mind that first-time HSBC customers need to apply in-branch. Use HSBC’s branch locator to find one near you.
- Introductory Offer: Earn 3% cash back on the first $10,000 in eligible purchases made during the first 12 months. Thereafter, earn unlimited 1.5% cash back on all purchases.
- Cash Back Rate: Earn unlimited 1.5% cash back on all eligible purchases (1.5 Cash Rewards per $1 spent). Each year on your cardmember anniversary, you’ll receive a 10% bonus on the cash back earned during the preceding 12 months.
- Redemption: Redeem for statement credits or direct deposits to your HSBC bank account. Non-cash redemptions include direct bookings on select travel purchases, more than 3,000 merchandise items, and gift cards from more than 100 merchants. Redemption rates may vary.
- Introductory APR: 0% purchase and balance transfer APR for 12 months. Qualifying balance transfers must be made within 60 days of account opening.
- Key Fees: There’s no annual fee or foreign transaction fee. Balance transfers and cash advances cost the greater of 4% or $10.
- Other Perks: Enjoy a complimentary ShopRunner membership while you remain a cardmember in good standing. ShopRunner membership entitles you to unlimited, free 2-day shipping and free return shipping at more than 100 online stores. You’ll also get special discounts on certain Postmates orders: $5 off on food, drink, and grocery orders of $25 or more. And you’ll claim a 10% discount when you book participating Onefinestay rental properties — choose from more than 10,000 high-end rentals in major cities around the world.
Learn more about this card and find out how to apply here.
9. American Express Cash Magnet™ Card
Unlimited 1.5% Cash Back on All Purchases; Welcome Offer Worth Up to $150
The American Express Cash Magnet™ Card is a great general spending card for consumers who tend not to favor specific purchase categories. Like Chase Freedom Unlimited and Capital One Quicksilver, it earns unlimited 1.5% cash back on all eligible purchases, with no caps or restrictions. And, as a relatively new addition to Amex’s stable, it comes with a generous limited-time welcome offer: up to $150 in bonus cash.
Other perks include a 15-month 0% APR promotion for purchases and balance transfers and a nice lineup of value-added perks, including discount opportunities through Amex Offers. One big drawback is the $25 minimum redemption threshold, which could be an issue for lighter spenders.
- Welcome Offer: For a limited time, earn $150 cash back when you make at least $1,000 in eligible purchases within the first 3 months.
- Cash Back Rate: Unlimited 1.5% cash back on all eligible purchases, with no limits on how much you can earn.
- Redemption: Redeem for statement credits in any amount over $25. American Express may also offer gift card and merchandise redemptions as well, but these are subject to change and may not always be available.
- Introductory APR: 0% purchase and balance transfer APR for 15 months. Balance transfers must be made within 60 days of account opening.
- Key Fees: There’s no annual fee. The foreign transaction fee is 2.7%. Balance transfers and cash advances cost the greater of 3% or $5.
- Other Perks: Amex’s Plan It feature lets you set up flexible monthly payment plans for large purchases. Instead of interest charges, you’ll pay a fixed fee on your plan payments. Other benefits include Amex Offers (a discount suite), complimentary rental car coverage for loss and damage, travel accident insurance, extended warranties on certain covered items, cell phone protection, and other benefits for travelers and shoppers.
See our American Express Cash Magnet Review for more information. Find out how you can apply for this card here.
10. U.S. Bank Cash+™ Visa Signature® Card
5% Cash Back on Up to $2,000 in 2 Category Purchases Every Quarter; Unlimited 2% Back on 1 Category of Your Choice; Unlimited 1% Back on Everything Else
The U.S. Bank Cash+ Visa Signature Card has a three-tiered cash back program with unlimited earning potential.
The headline here is the top tier, which pays 5% cash back on purchases in two categories of your choice, up to $2,000 in combined category spending per quarter. The second tier pays unlimited 2% cash back on eligible purchases made in an additional category of your choice. Categories tend to have broad appeal: gas stations, restaurants, drugstores, and so on. However, you must activate your categories in advance of each quarter; otherwise, you’ll earn the card’s baseline 1% cash back (unlimited) on all purchases.
Redeeming earned cash back is easy with Cash+. There’s no minimum to redeem for credit card statement credits (the most seamless option) or deposits to an eligible bank account. You can also redeem for reward cards (gift cards) in $5 increments, starting at $20. A word of warning: you must redeem cash back within 36 months of earning it, or it’s gone forever.
Additional benefits of Cash+ include an easy-to-attain sign-up bonus worth $150 on $500 in eligible purchases within the first 3 months, and a 0% APR promotion on balance transfers for the first 12 months. As long as you can tailor your spending to Cash+’s categories, it’s tough to imagine why you wouldn’t want this card in your wallet.
- Sign-up Bonus: When you make $500 in eligible purchases within 3 months of opening your account, you get a $150 cash bonus.
- Cash Back Rate: Earn 5% cash back on purchases made in 2 categories of your choice, up to $2,000 in combined spending across both categories. Earn unlimited 2% cash back on an additional category of your choice, and unlimited 1% cash back on all other eligible spending. The 5% and 2% categories are subject to change on a quarterly basis, and you must activate your cash back categories in advance to earn at the higher rates.
- Redemption: You can redeem accumulated cash back for statement credits, bank account deposits, or rewards cards (gift cards). There’s no minimum redemption for statement credit or bank account deposit redemptions. Reward card redemptions start at $20 and must be made in $5 increments. Cash back expires 36 months after the billing cycle in which it’s earned.
- Introductory APR: 0% APR on balance transfers for 12 months. Qualifying transfers must be made 60 days from your account opening date.
- Regular APR: Once the introductory period ends, the regular balance transfer APR ranges from 16.24% to 25.74% variable. The purchase rate falls within this range from day one, with the exact APR dependent on prevailing interest rates and your personal creditworthiness.
- Key Fees: There’s no annual fee. Balance transfers cost the greater of $5 or 3% of the transferred amount. Cash advances cost at least the greater of $5 or 3%, but some types of cash advances cost more. The foreign transaction fee is a flat 2% to 3%, depending on how the transaction is denominated.
- Other Perks: Additional benefits include complimentary loss and damage coverage on rental cars paid in full with your card, complimentary Visa concierge service, limited retail protection on covered purchases, and overdraft protection for U.S. Bank deposit account holders.
See our U.S. Bank Cash+ Visa Signature Card Review for more information. Find out how you can apply for this card here.
11. Chase Freedom®
5% Cash Back in Rotating Categories Every Quarter; 1% on Everything Else
All purchases made with the Chase Freedom card earn 1% cash back, with no caps or restrictions, and purchases up to $1,500 in quarterly rotating categories earn 5% cash back. The categories are usually pretty broad and have wide appeal. For example, from April to June of 2018, purchases made at grocery stores (not including Target or Walmart) earned 5% cash back. Purchases made through Paypal or Chase Pay also receive 5% cash back. This is especially useful if you frequently shop on Ebay and make payment through Paypal.
Limited-time promotions occasionally push Freedom’s earning power even higher – for example, in the fourth quarter of 2015, purchases at Amazon, Zappos, Audible, and Diapers.com earned 10% cash back up to the $1,500 limit.
Chase Freedom accumulates Chase Ultimate Rewards points, a versatile spending currency that is worth $0.01 per point or more depending on redemption. Spending in the 1% cash back category earns 1 point per dollar, while spending in the 5% category earns 5 points per dollar. You can redeem for cash back (with each point being worth $0.01), deliverable as a statement credit, bank account deposit, or gift card at select retailers (including Amazon). There’s no minimum to redeem. You can also redeem for a wide variety of purchases, including travel and general merchandise, through Chase’s Ultimate Rewards portal.
One small drawback of Chase Freedom: You have to manually activate your 5% cash back each quarter. If you don’t do so by the middle of the last month of that quarter, you forfeit the 5% cash back opportunity.
- Sign-up Bonus: When you make $500 in qualifying purchases within 3 months of opening your account, you get $150.
- Cash Back Rate: 5% cash back (5 points per $1 spent) on purchases in quarterly rotating categories, up to $1,500 combined spending across all categories. Unlimited 1% cash back on quarterly category purchases above the $1,500 limit, as well as on all other purchases.
- Redemption: You can redeem for statement credits, bank account deposits, and gift cards at a 1 point to $0.01 ratio. You can also redeem for travel, general merchandise, and other purchases at the Ultimate Rewards portal. Your cash back rewards don’t expire as long as your account remains open and in good standing, and there’s no minimum redemption threshold for cash back.
- Introductory APR: 0% APR on purchases and balance transfers for 15 months.
- Regular APR: Once the introductory period ends, Chase Freedom’s regular APR ranges from 17.24% to 25.99% variable. The exact rate depends on prevailing interest rates and your personal creditworthiness. The cash advance APR is 27.24% variable. There is no penalty APR.
- Key Fees: There’s no annual fee. When you transfer a balance within the first 60 days, the balance transfer fee is the greater of 3% or $5. Thereafter, the balance transfer fee is the greater of 5% or $5. The foreign transaction fee is a flat 3%. Cash advances cost the greater of $10 or 5%.
- Other Perks: Chase’s Purchase Protection is an insurance product that covers all purchases made with your Chase Freedom card for 120 days, up to $500 per claim and $50,000 per account, against theft, damage, and loss. You also get a free credit score, updated weekly, with Chase Credit Journey.
See our Chase Freedom Review for more information. Find out how you can apply for this card here.
12. Blue Cash Everyday® Card from American Express
3% Cash Back at U.S. Supermarkets; 2% at U.S. Gas Stations and Select U.S. Department Stores; 1% Elsewhere; $150 Welcome Offer
The Blue Cash Everyday Card from American Express gives you ample cash back on everyday, hard-to-avoid purchases: food, staples, fuel, clothing, and home goods. You get 3% cash back on U.S. supermarket purchases, up to the $6,000 annual limit. After you hit the limit, you get 1% cash back on supermarket purchases, with no spending cap.
Meanwhile, this card’s 2% cash back rate at U.S. gas stations and select U.S. department stores is unlimited, as is 1% cash back everywhere else. Your cash back comes as a statement credit. Note that big box superstores such as Target, wholesale clubs like Sam’s Club, and alcohol retailers don’t count as “supermarkets,” according to American Express.
- Welcome Offer. If you make $1,000 in qualifying purchases within 3 months, you get a $150 statement credit
- Cash Back Rate. 3% cash back on U.S. supermarket purchases, up to $6,000 in annual spending (so $180 max annual cash back in this category). The card offers unlimited 1% cash back on U.S. supermarket purchases above the annual limit. Enjoy unlimited 2% cash back on U.S. gas station and select U.S. department store spending, and unlimited 1% cash back everywhere else.
- Redemption. The minimum redemption is $25. Once you reach this threshold, you can redeem in $25 increments for statement credits. You can also redeem for gift cards and general merchandise in variable amounts
- Introductory APR. 0% APR on purchases and balance transfers for 15 months
- Regular APR. Following the introductory period’s end, the variable APR ranges between 15.24% and 26.24% APR, depending on your personal creditworthiness and prevailing interest rates
- Key Fees. There’s no annual fee, compared to the $95 fee for the Blue Cash Preferred Card which offers higher cash back rates. The foreign transaction fee is 2.7%. Balance transfers cost either $5 or 3% of the amount of each transfer, whichever is greater
- Other Perks. Also includes Return Protection, as described as a benefit of the Blue Cash Preferred Card from American Express.
See our American Express Blue Cash Everyday Review for more information. Find out how you can apply for this cardhere.
13. Costco Anywhere Visa® Card by Citi
4% Cash Back on Gas Purchases at Costco Locations and Qualifying Gas Stations; 3% Cash Back on Restaurant and Eligible Travel Purchases; 2% Cash Back at Costco; 1% Cash Back Everywhere Else
The Costco Anywhere Visa Card by Citi is premium cash back product exclusive to Costco members. If you’re already spending $60 per year (or $120, if you’re springing for the Executive membership) on a Costco membership, and you’re able to meet Citi’s stringent underwriting requirements, this card is a no-brainer.
Why? Acw napoleon total war. For folks with long commutes, healthy travel and dining-out budgets, and long Costco shopping lists, the four-tiered cash back program is among the most generous around. Yes, the redemption framework is a little wonky – you have to redeem in person at Costco, and you have just one annual shot to do so. But most Costco members shop often enough that this isn’t a massive inconvenience.
- Sign-up Bonus: This card currently has no sign-up bonus. Check back for updates.
- Cash Back Rate: Earn 4% cash back on eligible gas purchases at Costco and qualifying gas stations, up to the first $7,000 in eligible purchases per year. Earn unlimited 3% back on eligible restaurant and travel purchases. Earn unlimited 2% cash back on eligible Costco purchases. Earn unlimited 1% cash back on all other eligible purchases, including gas purchases above the $7,000 annual spending cap.
- Redemption: At the close of your February billing statement, you’ll receive a redemption voucher for the full value of rewards earned during the previous year. You must redeem this voucher in a single in-person transaction at Costco, either as credit against purchases or for cash at the register (or both). The voucher remains valid until December 31 of the year issued.
- Introductory APR: None.
- Key Fees: $0 with a paid Costco membership ($60 for a regular household membership and $120 for an Executive membership). There is no foreign transaction fee. Cash advances cost the greater of $10 or 5%. Balance transfers cost the greater of $5 or 3%.
- Other Perks: Fringe benefits include purchase protection for 90 to 120 on losses caused by damage or theft, complimentary rental car insurance, and extended warranties on select purchases.
See our Costco Anywhere Visa® Card by Citi Review for more information. Find out how you can apply for this card here.
Final Word
Even the most generous cash back credit cards rarely offer more than 5% cash back on any purchases. Cards that offer more than 2% or 3% cash back typically require holders to keep track of specific spending categories or respect purchase limits.
By contrast, cash back credit card APRs usually range from somewhere north of 10% to more than 20% in some cases. At those rates, carrying a balance for even a single month can seriously eat into your cash back earnings. Habitually carrying a balance from month to month more than negates your cash back earnings, adding to the actual cost of your purchases.
In other words, don’t let the promise of cash back lull you into letting your card balances grow over time. It’s almost never worth it. If you need to carry a credit card balance from month to month, opt for a low APR credit card instead. And if you worry about your ability to keep your credit card spending to a level that allows for in-full payments each month, choose a credit card with a low spending limit, or a secured credit card that requires you to make an upfront cash deposit.
What’s your favorite cash back credit card?
Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.
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Ink Business Cash℠ Credit Card
BUSINESS CARD RATING
4.9
Best Cash Back Credit Cards Canada
OVERALL RATING
4.6/5.0
- Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening
- Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
- Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
- Earn 1% cash back on all other card purchases with no limit to the amount you can earn
- 0% introductory APR for 12 months on purchases
- Employee cards at no additional cost
Intro (Transfers) | Annual Fee | |
---|---|---|
0% Intro APR on Purchases 12 months | 15.49% - 21.49% Variable | Good/Excellent |