Best Cash Back Cards

Overview:

  • Earn cash back on your everyday purchases. Earn 2%, 5%, or even 10% cash back on qualifying purchases.
  • Redeem cash back for statement credits, gift cards, merchandise, or even your next vacation!
  • Make your cash back haul sweeter with a new card member bonus.
  • Earn rewards without an annual fee.
  • Terms vary by partner offer. Please see each bank’s application for terms and conditions.
  • Clicking View Cards will take you to CreditCards.com to compare Cash Back cards from participating partners.

What are cash back credit cards?

Cash back credit cards are credit cards that give you cash back based on your credit card spending. For every dollar you spend on the top cash back credit cards, you will receive cash back. The amount of cash back you receive with the best cash back credit cards will vary based on the credit card you choose.

The best cash back rewards credit card for you will be based on a variety of factors. For example, analyze your spending to understand which your highest spending categories such as travel, hotels, airlines, rental cars, restaurants, gas or everyday purchases. This will help you compare the best cash back credit cards that match your spending categories.

Once you have found the 10 cash back credit cards or 5 cash back credit cards that match your spending preferences, you can compare them to find the credit card that works best for you. Whether you choose the highest cash back credit card or the best cash back credit cards for excellent credit, you should also consider the annual fee, cash back rate, sign-up bonuses and interest rate, among other factors.

Here are the best Cash Back Credit Cards of 2020

The Capital One® Savor® Cash Rewards Credit Cardhelps you earn unlimited 4% cash back on dining and entertainment. You can also earn 2% cash back on groceries and 1% cash back on all other purchases.

Current Bonus: $300

Annual Fee: $95, but waived the first year

Regular APR: 15.99% – 24.99%

Great Benefits: The Capital One® Savor® Cash Rewards Credit Card has great benefits, including:

  • Earn a one-time $300 cash bonus after you spend $3000 on purchases within the first 3 months from account opening.
  • Earn unlimited 4% cash back on dining and entertainment.
  • Earn 2% cash back at grocery stores.
  • Earn 1% on all other purchases.
  • Receive a monthly statement credit for a Postmates Unlimited monthly membership.
  • No rotating categories or sign-ups needed to earn cash rewards.
  • Cash back won’t expire for the life of the account and there’s no limit to how much you can earn.
  • No foreign transaction fees.
  • Capital One cardholders get access to premium experiences in dining, entertainment and more.

The Discover It® Cash Back helps you get 14 months of 0% APR. You can earn credit card helps you earn 5% cash back on everyday purchases that rotate each quarter. Categories include grocery stores, restaurants, gas stations, ride share programs and online shopping.You can also earn an unlimited 1% cash back on all other purchases.

Current Bonus: Discover matches all cash earned back at end of first year.

Annual Fee: $0

Regular APR: 11.99% – 22.99%

Great Benefits: The Discover it® Cash Back credit card has great benefits, including:

  • Intro Offer: Discover will match all the cash back you’ve earned at the end of your first year, automatically. There’s no signing up. And no limit to how much is matched.
  • Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum.
  • Plus, earn unlimited 1% cash back on all other purchases – automatically.
  • Redeem cash back any amount, any time. Rewards never expire.
  • Receive Free Social Security number alerts—Discover will monitor thousands of risky websites when you sign up.
  • Rewards can be redeemed at Amazon.com checkout.

The Chase Freedom Unlimited® credit card helps you earn 1.5% cash back on every purchase and your cash back rewards never expire so long as your Chase Freedom Unlimited® is open. You will also receive 0% APR or 15 months.

Current Bonus: $200

Annual Fee: $0

Regular APR: 14.99% – 23.74%

Great Benefits: The Chase Freedom Unlimited® credit card has great benefits, including:

  • 0% Intro APR for 15 months on both purchase and balance transfers. Balance transfer fee is 3% of the amount transferred.
  • Unlimited 1.5% cash back on every purchase – it’s automatic.
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • 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℠.

The Wells Fargo Propel American Express® Card helps you get 12 months of 0% APR. You can also earn 3x points restaurants, gas stations, travel and other categories, plus 1x points on every other purchases.

Current Bonus: $0

Annual Fee: 30,000 points

Regular APR: 13.99% – 25.99%

Great Benefits: Wells Fargo Propel American Express® Card has great benefits, including:

  • Earn 30,000 bonus points when you spend $3,000 in purchases in the first 3 months – that’s a $300 cash redemption value.
  • Earn 3x points for eating out and ordering in.
  • Earn 3x points for gas stations, rideshares and transit.
  • Earn 3x points for travel including flights, hotels, homestays and car rentals.
  • Earn 1x points on other purchases.
  • 0% Intro APR for 12 months on purchases and balance transfers.

The Bank of America® Cash Rewards Credit Card helps you earn 3% cash back on gas, 2% cash back at grocery stores and wholesale clubs, and 1% cash back on all other purchases. With no annual fees, you will also earn 0% APR for 12 months.

Current Bonus: $200

Annual Fee: $0

Regular APR:15.49% – 25.49%

Great Benefits: The Bank of America® Cash Rewards credit card has great benefits, including:

  • $200 online cash rewards bonus after you spend at least $500 on purchases in the first 90 days of account opening.
  • Earn 1% cash back on every purchase.
  • Earn 2% cash back at grocery stores and wholesale clubs.
  • Earn 3% on gas.
  • Cash back earning is for the first $2,500 in combined grocery/wholesale club/gas purchases each quarter.
  • No changing categories and no expiration on rewards.
  • 0% Introductory APR for 12 billing cycles for purchases and for any balance transfers made in the first 60 days.
  • Get a 10% customer bonus every time you redeem your cash back into a Bank of America® checking or savings account.
  • If you’re a Preferred Rewards client, you can increase that bonus to 25% – 75%.
  • Easily add your Mastercard® credit card to any digital wallet for a simple, secure, and convenient way to pay online, in-app, and in-store.

The Capital One® Quicksilver® Cash Rewards Credit Card has no annual fee, no foreign transaction fees, and helps you get 0% APR for 15 months. With a Capital One® Quicksilver® Cash Rewards Credit Card, you will also receive 1.5% cash back on every purchase.

Current Bonus: $150

Annual Fee: $0

Regular APR: 15.49% – 25.49%

Great Benefits: The Capital One® Quicksilver® Cash Rewards Credit Card has great benefits, including:

  • One-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening.
  • Unlimited 1.5% cash back on every purchase.
  • 0% APR on new purchases and balance transfers. 3% balance transfer fee.
  • No rotating categories or sign-ups needed to earn cash rewards.
  • Cash back won’t expire for the life of the account and there’s no limit to how much you can earn.
  • No foreign transaction fees.

The Citi® Double Cash Card helps you earn 2% cash back: 1% when you make a purchase and 1% when you pay for your credit card purchase. With no annual fee, you can earn cash back on every purchase and enjoy a 0% Intro APR on balance transfers for 18 months.

Current Bonus: $0

Annual Fee: $0

Regular APR: 13.99% – 23.99%
Great Benefits: The Citi® Double Cash Card credit card has great benefits, including:

  • Earn 2% cash back on every purchase with unlimited 1% cash back when you buy, plus an additional 1% when you pay for your credit card purchases.
  • Get 0% intro APR on balance transfers for 18 months

The Blue Cash Everyday® Card from American Express helps you get 0% APR for 15 months. With no annual fee, you can also earn great cash back rewards, including 3% cash back at supermarkets, 2% cash back at gas stations and 1% cash back on all other purchases.

Current Bonus: $150

Annual Fee: $0

0% APR Period: 15 months

Regular APR: 12.99% to 23.99%

Great Benefits: The Blue Cash Everyday® Card from American Express credit card has great benefits, including:

  • $150 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.
  • 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%).
  • 2% cash back at U.S. gas stations and at select U.S. department stores, 1% back on other purchases.
  • 0% Intro APR on purchases and balance transfers for 15 months.
  • Redeem cash back as statement credit, merchandise or gift cards.

Can you get cash back from a credit card?

Yes, cash back credit cards will give you cash back for every dollar you spend on the top cash back credit cards.

When you choose among the 5 cash back credit cards, you will find that you typically can earn 1-2% cash back on your credit card spending. The highest cash back credit card you choose will work best for you based on your personal spending categories. When you evaluate cash back credit card offers, you pay attention to cash back rewards, ways to redeem cash back, interest rate, sign-up bonus and annual fee.

How do the best cash back credit cards work?

The best cash back credit cards give you cash back based on your credit card spending. Typically, you receive a certain percentage of cash back based on your total spending each month or each year. When you compare the 10 cash back credit cards, you will find the amount of cash back varies by credit card.

You earn cash back either in a designated category or a rotating category. For example, some cash back credit offers will give you a fixed percentage based on your spending. This means that for these cash back credit cards you could receive 1.5% for all your credit card spending, for example.

Other cash back credit offers offer you certain percentages for different categories. For these cash back credit cards, this means that your every day purchases could earn one percentage, your gas purchases could earn another percentage and your travel purchases could earn yet another percentage.

Some of the best cash back cards offer rotating categories, which means the percentages may change each month or quarterly, for example, for specific categories. For example, supermarkets may be the highest cash back one month, but gas purchases may be the highest cash back category another month.

Finally, some of the best cash back credit cards offer additional cash back when you pay your credit bill.

How do you get approved for cash back credit card offers?

To get approved for the best cash back credit cards, you need to have strong credit or excellent credit. The stronger your credit, the higher likelihood that you will be approved for best cash back credit cards. To get approved for the best 10 cash back credit cards, credit card companies will evaluate your credit profile, income, other debt and your history of financial responsibility. Credit card companies offer the best cash back credit cards to customers have a history of financial responsibility who they can trust to repay their credit card balances in full. If you have a strong financial profile, you may qualify for the best cash back credit cards for excellent credit.

How should you choose the highest cash back credit card?

The highest cash back credit card is the one that will give you the most cash back based on your spending. When it comes to choosing the top cash back credit cards, you need to evaluate your specific spending. Once you analyze your spending, you can determine where you spend the most. For example, if you find that you spend the most for grocery or gas, you can pick the 3 cash back credit cards that have the highest cash back credit card for these categories. This allows you to match your spending with the highest cash back rewards.

The highest cash back credit card will always be specific to you and your spending. Therefore, it is important to understand whether the cash back credit cards have fixed cash back rewards or rotating cash back rewards. You can compare the best cash back cards on Make Lemonade to determine which categories match your spending habits. With rotating cash back rewards, the categories with the highest cash back rewards may change throughout the year. With these top cash back credit cards, try to time your purchases to match the rotating categories.

What is the best cash back rewards credit card for me?

The best cash back credit cards are based on your personal preference. There are no “best cash back cards” for everyone. Rather, the top cash back credit cards are the ones that you prefer based on several factors. Therefore, the best cash back rewards credit card is an individual choice. The best place to start is your spending, particularly the categories where you spend most frequently. Then, you can align your spending habits with the cash back credit card offers that best match your spending. The best cash back credit cards offer cash back in several popular categories such as travel, airlines, hotels, grocery, gas, restaurants and everyday spending, among others. Other factors that you should evaluate to find the best cash back rewards credit card for you include:

  • Percentage cash back
  • Cash back limits, if any
  • Sign-up bonus
  • Other perks
  • Intro APR
  • Ongoing APR

How do you redeem cash back with the best cash back credit cards?

With the best cash back credit cards, you can typically redeem cash back in one of the following ways:

1. Bank deposit: With this cash back redemption option, you receive your cash back directly into your bank account. For the best cash back cards, this is your top strategy to get cash back.

2. Statement Credit: This cash back redemption option puts the cash you earn directly on your credit card statement. The best cash back cards offer this redemption option. The good news is it usually appears within your statement within days.

3. Gift Cards: Cash back credit cards also provide an option for you to receive a gift card with your cash back balance. You can use this gift card with your cash back to spend with online retailers.

When looking for the best cash back rewards credit card, make sure that you can redeem cash back in the way you prefer.When it comes to the best cash back credit cards, also be sure to read the fine print. If you look at the 10 cash back credit cards that are most popular, each of them may have different redemption options for cash back. So, make sure you understand if there are any limits to cash back redemption.

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