Best Credit Cards for Cash Back

of July 2024

Best Credit Cards for Cash Back

In This Article

Cashback credit cards have created a sensation in the realm of personal finance, transforming ordinary purchases into gratifying opportunities. The multitude of choices available in the market might make selecting the perfect one seem overwhelming. But fear not, this article is here to present six captivating cashback credit cards that are set to revolutionize your shopping habits.

Prepare to be amazed by the likes of the extraordinary Chase Freedom Unlimited and the exclusive American Express Blue Cash Preferred® Card, as they take your shopping experience to new heights. Delve into the details to uncover why each of these exceptional contenders made it to list.

  1. Chase Freedom Unlimited
  2. Citi® Double Cash Card
  3. Discover it® Cash Back
  4. Capital One Savor® Cash Rewards Credit Card
  5. American Express Blue Cash Preferred® Card
  6. S. Bank Cash+™ Visa Signature® Card

Overview of Best Credit Cards for Cash Back

How to Choose Best Credit Cards for Cash Back

Pros & Cons of Best Credit Cards for Cash Back

What to Watch Out For Best Credit Cards for Cash Back

Pro Tips

Recap

1. Chase Freedom Unlimited®

9.8/10

Chase Freedom Unlimited Card

Desire Chase Freedom Unlimited for its simplicity and generous cashback rewards. Enjoy flat-rate 1.5% cash back on all purchases, with guarantees for an uncomplicated and effortless way to earn rewards.

Whether you’re shopping for groceries, filling up your gas tank, or treating yourself to some retail therapy, this card has you covered.

Pros

  • Offers a simple and attractive cashback structure, providing a flat-rate 1.5% cashback on all purchases.
  • Comes with an introductory 0% APR offer on purchases and balance transfers for a specific period.
  • Does not charge an annual fee, making it a cost-effective choice for you if you are looking to earn cashback rewards without any additional expenses.
  • Supports contactless payment technology, allowing for a faster and more convenient checkout experience at participating merchants.

Cons

  • Lacks the extensive travel perks and benefits that some other premium travel credit cards provide.
  • Requires a good to excellent credit score
  • Charges foreign transaction fees, typically around 3% of the transaction amount.
  • Offers 0% Introductory APR for 15 months, then variable APR applies.
  • Charges $0 annual fee
  • Provides a handsome cashback bonus during the introductory period.
  • Requires a good to excellent credit score.

2. Citi® Double Cash Card

9.7/10

Citi Double Cash Card

Enjoy double reward offer has The Citi® Double Cash Card lives up to its name by rewarding you twice. Earn an impressive 1% cashback when you make purchases and another 1% when you pay them off.

Pros

  • Offers a unique and attractive cashback structure.
  • Comes with no annual fee, making it a cost-effective option for those seeking to maximize their cashback rewards without incurring extra expenses.
  • Offers an introductory 0% APR on balance transfers for a specified period.
  • Provides you with free access to your FICO credit score, enabling you to monitor your credit health and make informed financial decisions.

Cons

  • Does not offer a sign-up bonus or initial cashback reward.
  • Charges foreign transaction fees, typically around 3% of the transaction amount, which can add to the cost of your purchases.
  • Charges a balance transfer fee.
  • APR: 0% for 18 months on Balance Transfers, then variable APR applies.
  • Annual Fee: $0
  • Bonus Offer: None.
  • Minimum Credit Score: Good to Excellent.

3. Discover it® Cash Back

9.4/10

Discover it Cash Back

Consider Discover it® Cash Back as the perfect choice for you if you seek attractive rotating bonus categories. With quarterly updates on where you can earn whopping 5% cash back, this card adds a thrilling element of surprise to your cashback game. Plus, the first-year cashback match doubles your rewards, making it a compelling contender in the cashback card arena.

Pros

  • Offers a unique feature with rotating bonus categories that change every quarter.
  • Matches all the cashback you earned during the first year as a new cardholder.
  • Does not charge any annual fee, allowing you to enjoy the benefits of the cashback program without any additional costs.

Cons

  • Requires activation to earn the 5% cashback in the rotating categories. If you forget to activate, you will only earn the standard 1% cashback on all purchases.
  • Place a quarterly spending cap of $1,500. Once you reach this limit, you will earn 1% cashback on further purchases in those categories.
  • APR: 0% for 14 months on purchases and balance transfers, then variable APR applies.
  • Annual Fee: $0
  • Bonus Offer: Cashback match on all rewards earned in the first year.
  • Minimum Credit Score: Good to Excellent.

4. Capital One Savor® Cash Rewards Credit Card

9.1/10

Capital One Savor Cash Rewards Credit Card

Enjoy the awesomeness of the Capital One Savor® Cash Rewards Credit Card as an entertainment enthusiast. It is a game-changer. With an incredible 4% cashback on dining and entertainment, this card caters to your indulgent side. Whether you’re dining out, going to concerts, or catching the latest blockbuster, this card rewards your passion like no other.

Pros

  • Offers attractive cashback rates, with 4% cashback on dining and entertainment, 2% at grocery stores, and 1% on all other purchases.
  • Offers you an introductory 0% APR on purchases for a specific period.
  • Provides access to a personalized concierge service that can assist you with various tasks, from travel bookings to event planning.

Cons

  • Charges an annual fee, this is a drawback, particularly if you don’t spend much on dining and entertainment to fully offset the fee.
  • Offers a lower cashback rates at grocery stores than some other cards specifically designed for maximizing grocery rewards.
  • Requires high credit score to qualify. You need to have from 660 – 850
  • APR: 0% for 15 months on purchases and balance transfers, then variable APR applies.
  • Annual Fee: $95
  • Bonus Offer: Earn a cashback bonus after meeting initial spending requirements.
  • Minimum Credit Score: Good to Excellent

5. American Express Blue Cash Preferred® Card

9/10

American Express Blue Cash Preferred® Card

Consider the American Express Blue Cash Preferred® Card as a heavyweight contender in the cashback realm.  Boasting a whopping 6% cashback at supermarkets and 6% on select streaming services, this card is perfect for you as a family and entertainment enthusiasts. Plus, 3% cashback at gas stations and transit, and 1% on everything else, ensures you earn rewards on all aspects of your life.

Pros

  • Offers generous cashback rates with significant rewards on groceries, streaming, gas, and transit.
  • Comes with an introductory 0% APR on purchases for a specified period, making it a suitable option for financing large purchases without incurring interest charges during the promotional period.
  • Offers you a welcome bonus as a new cardholder after meeting a minimum spending requirement within a specific timeframe.
  • Offers exclusive deals and offers through the Amex Offers program, providing additional savings and rewards for you based on your spending habits.

Cons

  • Comes with an annual fee, this is a drawback especially if you don’t spend enough to fully offset the fee with cashback earnings.
  • Offers limited redemption options for cashback rewards earned compared to cards that offer more diverse redemption options.
  • Requires high credit score to qualify. You will need at least a 670 score.
  • APR: 0% for 12 months on purchases, then variable APR applies.
  • Annual Fee: $95
  • Bonus Offer: Earn a cashback bonus after meeting initial spending requirements.
  • Minimum Credit Score: Good to Excellent.

6. U.S. Bank Cash+™ Visa Signature® Card

8.8/10

U.S. Bank Cash+ Visa Signature Card

For the ultimate customization of your cashback experience, the U.S. Bank Cash+™ Visa Signature® Card takes center stage. You get to choose two categories for 5% cashback and another category for 2% cashback, allowing you to tailor your rewards to your unique lifestyle.

Pros

  • Allows you to choose your cashback categories.
  • Provides an introductory 0% APR on balance transfers for a specific period.
  • Allows you to earn 2% cashback on your chosen bonus category without any limits.

Cons

  • Provides limited redemption options for cashback rewards.
  • Charges foreign transaction fees, typically around 3% of the transaction amount.
  • APR: 0% for 12 months on balance transfers, then variable APR applies.
  • Annual Fee: $0
  • Bonus Offer: Earn a cashback bonus after meeting initial spending requirements.
  • Minimum Credit Score: Good to Excellent.

Overview of Best Credit Cards for Cash Back

The best cashback credit cards offer attractive rewards on everyday spending, making them popular choices for consumers.

Some notable options include the Chase Freedom Unlimited with flat-rate cashback, the Citi® Double Cash Card with rewards for timely payments, and the Discover it® Cash Back with rotating bonus categories. The Capital One Savor® Cash Rewards Credit Card is ideal for dining and entertainment enthusiasts, while the American Express Blue Cash Preferred® Card suits heavy grocery and streaming service spenders. The U.S. Bank Cash+™ Visa Signature® Card stands out for its customizable cashback categories.

Each card has its unique features and benefits, allowing you to maximize your rewards based on your individual preferences and spending habits.

How to Choose the Best Credit Cards for Cash Back

With a plethora of cashback credit cards in the market, finding the perfect match can feel overwhelming. Fear not! The key lies in understanding your spending habits and financial goals.

Take a moment to assess your monthly expenditures and identify categories where you spend the most. Whether it’s dining out, groceries, gas, or online shopping, there’s a cashback card tailored to your preferences.

Next, consider the cashback structure. Some cards offer a flat-rate cashback on all purchases, providing a consistent return on every dollar you spend. Others feature rotating bonus categories with higher cashback rates, perfect for those seeking variety and surprise rewards.

Lastly, keep an eye on the annual fee. While many cashback cards boast no annual fees, some premium cards offer enhanced benefits but may come with a yearly cost. Ensure that the rewards outweigh the fees and align with your spending patterns.

Pros and Cons of Best Credit Cards for Cash Back

  • Earning Cashback: You can earn cashback on your regular spending, effectively reducing the overall cost of purchases.
  • Variety of Redemption Options: Many cashback cards offer flexible redemption options, including statement credits, direct deposits, or gift cards. 
  • Interest Charges: If you carry a balance, the interest charges can quickly outweigh the cashback rewards earned.
  • Annual Fees: Some cashback cards may come with annual fees that can eat into the overall rewards earned.

What to Watch Out For

  1. High Interest Rates: Avoid carrying balances on cashback cards with high-interest rates, as the interest charges can offset any rewards earned.
  2. Category Restrictions: Some cashback cards have limited cashback categories, so ensure they align with your spending habits.
  3.  Expiration of Rewards: Be aware of any expiration dates on earned cashback rewards to avoid losing them

Pro Tips

  1. Pair and Maximize: Consider pairing cashback cards to complement each other’s strengths. Use a flat-rate card for general spending and a category-specific card for maximizing rewards in specific areas.
  2. Track Spending: Use budgeting tools to keep track of your spending in different categories. This will help you choose the most suitable cashback card and identify areas where you can optimize your rewards.
  3. Pay in Full: To avoid interest charges, always pay off your credit card balance in full each month. Remember, the goal is to earn rewards, not incur debt.

Recap

Choosing the right cash back credit card can revolutionize the way you manage your finances and make your everyday expenses more rewarding. Each of these six captivating contenders offers unique benefits tailored to various lifestyles and preferences.

Consider your spending habits, when looking for the best cash back credit card, the categories where you make most of your purchases, any annual fees, and the redemption options available. Additionally, review the terms and conditions of each credit card to understand the rewards structure, limitations, and any introductory offers that may apply.

So, dive into the world of cashback rewards and unleash the power of plastic with a card that matches your spending habits and aspirations! Happy shopping!

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