When it comes to credit cards, the allure of earning while spending has made the cashback credit card a favorite. In the simplest terms, a cash back credit card does precisely what it says on the tin: it returns a percentage of your spending back to you. While a small percentage of cash on a single purchase might not seem like a lot, over time, these small percentages can accumulate into significant savings, effectively giving you a discount on your purchases. For a simple, everyday cashback credit card, we recommend the Wells Fargo Active Cash® Card.
There are quite a few benefits to cashback credit cards. Beyond the obvious monetary returns, they often come with additional perks such as sign-up bonuses, no annual fees, and even special category rewards.
To truly maximize these benefits, you’ve got to understand your spending habits. For instance, if you frequently dine out or travel, a card that offers higher cashback percentages in those categories would be ideal. On the other hand, a flat-rate cash back card might be more suitable if you’ve got more varied spending patterns.
Choosing the right cash back credit card boils down to aligning the card’s offerings with your personal and financial needs. It’s about considering factors like the rewards rate, any associated fees, and the flexibility of redemption options. Remember, the best card for you is one that complements your spending habits and helps you achieve your financial goals.
Short On Time? Here Are Our Top Picks for the Best Cashback Credit Cards of September 2023:
1. Wells Fargo Active Cash® Card
- No Annual Fee: Enjoy all the card’s benefits without any yearly charges, making it cost-effective.
- Generous Sign-up Bonus: Spend just $500 in the first 3 months and pocket a bonus of $200, giving you a head start on rewards.
- Flat 2% Cash Back: Earn a straightforward 2% cash back on all purchases, eliminating the hassle of tracking categories.
- Redemption Choices: Opt for statement credits, ATM withdrawals, direct bank deposits, or traditional checks, offering you flexibility in how you use your rewards.
- 0% Intro APR for 15 Months: Make larger purchases or transfer balances without interest for over a year, providing financial breathing room.
2. American Express Blue Cash Preferred® Card
- Supermarket Rewards: Earn an impressive 6% back at U.S. supermarkets (on up to $6,000 annually), transforming your grocery shopping into notable cashback.
- Streaming Benefits: Enjoy 6% cash back on eligible popular streaming services, making your entertainment sessions more rewarding.
- Gas and Transit Perks: Get 3% back at U.S. gas stations and on various transit expenses, ensuring every commute adds to your savings.
- Generous Welcome Offer: Secure a $250 statement credit after spending $3,000 in the initial 6 months, giving you a substantial head start.
- Annual Fee Consideration: While there’s a $95 annual fee from the second year, the potential rewards, especially from groceries, can easily counterbalance it, offering great value in the long run.
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3. Chase Freedom Unlimited®
- Sign-up Bonus: Earn an additional 1.5% cash back on all purchases (on up to $20,000 spent in the first year), potentially netting you up to $300 in rewards.
- Dining and Drugstore Rewards: Enjoy 4.5% back on restaurant expenses (including takeout and eligible delivery services) and drugstore purchases, making everyday essentials even more valuable.
- Travel Perks: Get 5% cash back on travel when booked through Chase Ultimate Rewards®, turning your adventures into savings.
- Lyft Benefits: Ride with Lyft? You’re set to earn 5% back on qualifying Lyft rides until March 31, 2025.
- Versatile Cash Back: Earn a competitive 1.5% – 3% cash back on all other purchases, ensuring every spend counts.
What is a Cashback Credit Card?
A cashback credit card is a financial tool designed to reward you for your spending. Instead of just offering you credit, these cards give you back a portion of what you spend in the form of cash rewards. It’s like getting a discount every time you use the card, making your retail purchases, grocery store purchases, and even those trips to fitness clubs a bit more rewarding. Getting your cashback each money feels a bit like winning money – it’s a nice little dopamine hit.
How Does It Work?
Every time you use a cashback credit card, a certain percentage of the amount you spend is returned to you as a reward. This percentage varies depending on the card and where you’re spending. For instance, while one card might offer you 2% back on all purchases, another might give you 3% back on grocery store purchases and 1% on everything else. So, with some cards, you’ll need to be a little bit savvy to get the maximum rewards.
- Cycles for Purchases: Your cashback rewards are typically calculated based on your spending during specific billing cycles. At the end of each cycle, you’ll see the rewards you’ve earned on your statement.
- Spending Requirements and Caps: Some cards have spending requirements to earn certain bonuses or higher reward rates. Additionally, there might be spending caps, limiting the maximum rewards you can earn in specific categories.
- Special Categories: While most cards offer rewards for general spending, some provide higher percentages for specific categories. This could range from travel credit cards that reward you more for booking flights to cards that give extra cash back for fitness club memberships.
- Additional Benefits: Beyond cash back, many of these cards offer added perks like protection against damage on purchased items or special bonuses when you meet certain spending requirements.
- Credit Worthiness: It’s worth noting that the best cashback credit card offers are typically available to those with good to excellent credit. Your credit worthiness plays a significant role in determining the card offers you’re eligible for.
How to Choose the Right Cash Back Credit Card
With so many credit card issuers offering cashback credit cards with so many different rewards, you need to weigh up your options carefully to make sure you select the right one.
With the right card, you can earn back a portion of the money you spend, making every purchase a bit more satisfying. Here’s a step-by-step guide to help you choose:
1. Understand Your Spending Habits
Analyze Your Expenses: Before blindly applying for a card that seems like a good deal, take a moment to review your past few months of spending. Are there specific categories where you spend more, like dining, groceries, or travel?
Diverse vs. Specific Spending: If your expenses are spread out, a flat-rate cash back card might be best. If you spend heavily in specific categories, consider a card that offers higher returns in those areas.
2. Research the Reward Rates
Flat-Rate Cards: These cards offer the same cash back rate on all purchases. They’re simple and straightforward.
Tiered and Rotating Categories: Some cards offer higher rates for specific categories and a base rate for other purchases. Others have rotating categories that let you earn higher rates during specific periods.
3. Consider the Fees
Annual Fees: Some cash back cards come with annual fees. Ensure the rewards you earn outweigh this cost.
Foreign Transaction Fees: If you’re an international traveler, look for cards that don’t charge fees on foreign transactions.
4. Look for Sign-Up Bonuses
Many cards offer bonuses for new users if they spend a certain amount within the first few months. This can be a lucrative boost to your initial earnings.
5. Check Redemption Options
Flexibility Matters: Some cards allow you to redeem your cash back anytime, while others might have thresholds.
Redemption Methods: Check if you can get a statement credit, bank deposit, check, or even use cash back for purchases.
6. Additional Perks
Beyond cash back, many cards offer additional benefits like extended warranties, price protection, and even travel insurance. Consider these perks as they can add significant value.
7. Interest Rates and Introductory Offers
Some cards offer 0% introductory APR on purchases and balance transfers. If you plan to carry a balance, this can be beneficial.
Even with an attractive intro balance transfer fee or purchase APR, always be aware of the ongoing APR after the introductory period ends.
8. Read Reviews and Customer Feedback
Sometimes, the best insights come from current cardholders. Look for reviews online to get a sense of the card’s pros and cons.
9. Understand the Issuer’s Customer Service Reputation
Good customer service iso invaluable, especially if you run into any issues with your card.
10. Apply with Confidence
Once you’ve done your research and identified the card that suits your needs, go ahead and apply. But, as with all financial products, do consider whether you can afford to take on an additional line of credit and the impact to your credit score before you submit a credit card application. Remember, it’s essential to use your credit card responsibly to maximize benefits and maintain a healthy credit score and boost your future approval odds for other credit card products.
And, if you’re not sure or you’re concerned about your approval odds, get a potential approval decision with a credit issuer like Capital One that’ll only put a soft credit pull on your credit report so you can feel confident when you apply without harming your credit score.
How to Maximize Rewards with a Cashback Credit Card
A cashback credit card is more than just a payment method; it’s a tool to earn and save. With a bit of strategy and awareness, you can maximize your rewards and enjoy the many perks your card offers. Whether you’re covering your phone services bill or shopping for the holidays, every swipe can be rewarding. Apply these smart tips to use your credit card like a pro.
1. Understand the Types of Cash Back
First and foremost, familiarize yourself with the types of cash back your card offers. Some cards provide a flat percentage of cash back every purchase, while others might offer higher percentages for specific categories.
2. Snag That Sign-up Bonus
Many cashback credit cards offer a juicy sign-up bonus. To unlock this treasure, you’ll often need to meet minimum spending requirements within a set timeframe. For instance, you might need to spend $500 within the first three months. Plan your expenses wisely, but don’t overspend just for the bonus.
3. Shop Smart with Eligible Spend Categories
Many cards offer bonus cash back in popular spending categories. This could range from dining and entertainment to eligible delivery services. ifmore than the standard rate. For instance, if your card offers a higher percentage for eligible delivery services, consider ordering in more often.
4. Juggle Multiple Cards
Consider having more than one cashback card in your wallet. One card might offer higher rewards on purchases at grocery stores, while another shines for dining out. By strategically using multiple cards, you ensure you’re always earning the highest possible cash back.
5. Stay Updated on Product Features
Credit card issuers often update product features, introducing new categories or promotional offers. By staying informed, you can adjust your spending habits accordingly.
6. Leverage Everyday Categories
Some of the best rewards can be earned from everyday categories like groceries, gas, and utilities. If your card offers bonus cash back in these areas, use it for these regular expenses to consistently earn more.
7. Take Advantage of Special Offers
Occasionally, credit card companies might offer limited-time promotions where you can earn extra cash back. This could be for spending a certain amount or shopping at specific stores. Keep an eye out for these promotions to boost your rewards.
8. Compare Prices on Thousands of Items
Before making a purchase, especially a big one, compare prices on thousands of items across different platforms. Some credit card portals offer additional cash back for shopping through their online marketplaces.
9. Dive Deep for Additional Benefits
Your cashback card likely has hidden gems. Beyond the cash rewards, many cards offer purchase protection, travel insurance, rental car insurance, and even membership statement credits. Some even offer intro rates or an intro balance transfer fee. Familiarize yourself with these perks to make the most of your card.
10. Understand the Fine Print
Always read the terms and conditions of your card. There might be caps on how much cash back you can earn in a particular category or restrictions around how you can redeem your rewards.
11. Redeem Smartly
When it’s time to use your rewards, you have options:
- Statement Credit: Apply your cash back directly to your card balance.
- Bank Deposit or Check: Get your cash back in hand or deposited into your bank.
- Gift Cards: Some cards let you redeem rewards for gift cards, sometimes at a discount.
- Charitable Donations: Feeling generous? Donate your cash back to a worthy cause.
- Online Shopping: Certain cards allow you to directly use your cash back on online platforms, like Amazon.
12. Pay Your Balance in Full
This might not directly relate to earning, but it’s crucial. If you can, you should aftpay your entire balance every month. Any interest you pay on a carried balance can quickly eat into your rewards, reducing the effective cash back you earn.
13. Boost Your Credit Score
A higher credit score can unlock doors to cards with even better rewards, bonus rewards, and benefits. By consistently paying off your entire balance and using your card responsibly, you can improve your creditworthiness over time, making you eligible for premium cards. Even before you apply, it’s worth getting a copy of your credit report to see how you can boost your score with a view to getting better bonus rates, lower interest rates, and better rewards.
1. Wells Fargo Active Cash® Card: Number One Cashback Credit Card for 2023
Looking for a cash-back card that’s both generous and straightforward? Enter the Wells Fargo Active Cash® Card. Launched in 2021, this credit card is our top pick for the best cashback credit card. It offers a whopping 2% cash back on everything you buy. There’s no annual fee, and it has a tempting sign-up bonus.
- No Annual Fee: Keep that wallet happy with zero yearly costs.
- Sign-up Bonus: How does a cool $200 sound after spending $500 in the first 3 months? Pretty sweet deal!
- Rewards: Get a consistent 2% cash back on every single purchase. No need to remember categories or limits.
- Redemption Flexibility: Whether you fancy a statement credit, ATM withdrawal, direct bank deposit, or even a traditional mailed check, it’s your call.
- 0% Intro APR: Planning a big purchase or thinking of transferring a balance? Enjoy 0% APR for the first 15 months on balance transfers.
Why It Stands Out
Let’s be real: a flat 2% cash back on everything is hard to come by. The Wells Fargo Active Cash® Card doesn’t just stop at rewards; it offers a combo of perks that’s tough to beat. If you’re all about keeping things simple and maximizing value, this card’s a smart choice.
Perfect Alone or in a Pair
While some cards might tempt you with higher rewards in specific areas like dining out or hitting the grocery store, this card shines in its versatility. Use it as your go-to for everything, or pair it with another card to play the rewards game like a pro. If you want a simple card so you don’t have to keep checking or activating an eligible spending category every quarter, this card from Wells Fargo is definitely worth a look.
Cherry on Top
On top of all these perks, you’ll also get cell phone protection just by paying your monthly bill with the card. And for those moments when you’re feeling a bit fancy, you’ve got access to the Visa Concierge and the Visa Signature Luxury Hotel Collection.
2. American Express Blue Cash Preferred® Card: Cash-Back Champion
Ever dreamt of a card that rewards you generously for everyday expenses? The American Express Blue Cash Preferred® Card might just be your dream come true. With standout cash-back rates on groceries, streaming, and gas, it’s no wonder this card is a top contender in the cash-back arena.
- Supermarket Rewards: Earn a stellar 6% back at U.S. supermarkets (up to $6,000 annually), turning your grocery runs into serious savings.
- Streaming Perks: Binge-watching your favorite shows? Get 6% back on eligible U.S. streaming services. No caps!
- Gas and Transit Benefits: Score 3% back at U.S. gas stations and on transit, making commutes more rewarding.
- Welcome Offer: Grab a $250 statement credit after spending $3,000 in the first 6 months. That’s a warm welcome!
- Annual Fee: Yes, there’s an annual fee, but the rewards can easily offset it, especially with that juicy welcome offer. You get a $0 annual fee in your first year, too. Then it’s $95 per year, but the cashback on just $31 at the grocery store covers the annual fee, so it’s really pretty good.
Maximizing Your Grocery Rewards
Imagine getting $360 back just from grocery shopping. With the 6% cash-back rate, if you spend $6,000 a year on groceries, that’s exactly what you’ll get. Just remember, this rate applies to U.S. supermarkets, so be mindful of where you shop. And hey, a pro tip? Supermarkets often sell gift cards for various places. Buy them with your card, and you might just maximize that 6% benefit even further. After you’ve spent $6,000, you’ll still get 1% cashback on your groceries for the rest of the year.
Stream and Save
Whether you’re into Netflix, Hulu, or Spotify, you’ll appreciate the generous streaming cashback this credit card offers. With 6% back on popular streaming services, your entertainment habits can now save you money. Just ensure your subscriptions aren’t bundled with other services to get the full benefit.
On the Move? Earn as You Go
Whether you’re fueling up your car or taking a rideshare, the 3% cash back on gas and transit is a nice touch. From tolls and taxis to buses and trains, every journey becomes a bit more rewarding. Just remember, traditional stand-alone gas stations are where you’ll get the higher rewards.
3. Chase Freedom Unlimited®: Your Go-To for Versatile Cash Back
The Chase Freedom Unlimited® offers a tantalizing sign-up bonus and keeps the rewards rolling in with every purchase. With its diverse bonus categories and a solid rate on all other purchases, it’s clear why this card is a top pick for cash-back enthusiasts.
- Sign-up Bonus: An opportunity to earn an extra 1.5% cash back on all your purchases (up to $20,000 spent in the first year) – that’s up to $300 cash back.
- Dining and Drugstores: Get 4.5% back at restaurants (including takeout and eligible delivery) and on drugstore purchases, making your meals and essentials more rewarding.
- Travel Rewards: Planning a getaway? Enjoy 5% back on travel booked through Chase Ultimate Rewards®.
- Lyft Perks: Ride with Lyft? Until March 31, 2025, earn 5% back on qualifying Lyft services.
- Everything Else: For all other purchases, you’re looking at a solid 1.5% – 3% cash back, which is higher than many competitors.
Maximizing Your Dining and Drugstore Rewards
Whether you’re grabbing a quick bite or picking up a prescription, this card helps you save. Spending just $3,000 a year on dining and drugstores could net you $90 back. And let’s be honest, with the way we order takeout these days, hitting that might be a piece of cake (or pizza)!
Traveling on a Budget? Think Again!
Booking your next vacation through Chase Ultimate Rewards® lets you enjoy travel for less. Spend $6,000 on travel, and you’re looking at a cool $300 back. Whether it’s flights, hotels, or car rentals, every booking gets you closer to your next adventure.
Boost Your Earnings with Point Transfers
Got other Chase cards? You’re in for a treat. By strategically splitting your spending between this card and, say, the Chase Freedom Flex, you can supercharge your rewards. And if you’re into maximizing value, transferring points to cards like the Chase Sapphire Reserve® can make every point even more valuable.
4. Capital One SavorOne Cash Rewards Credit Card: A Feast of Rewards for Foodies and Streamers
Are you the kind of person who loves dining out, ordering in, or just binge-watching your favorite shows? If so, the Capital One SavorOne Cash Rewards Credit Card might just be your perfect match. With generous cash-back rates on dining, entertainment, and eligible streaming services, this card ensures that your everyday pleasures are not just enjoyable, but also rewarding.
- Dining and Entertainment Rewards: Earn 3% back on dining out, from that fancy restaurant to your favorite coffee shop, and on entertainment like movies or concerts.
- Streaming Services: Get 3% back on eligible streaming services. Whether you’re into Netflix, Hulu, or Disney+, your binge sessions just got more rewarding.
- Sign-up Bonus: A tempting $200 cash bonus awaits after you spend $500 within the first 3 months of account opening.
- Introductory APR: Enjoy a 0% intro APR for 15 months on purchases and balance transfers. A great way to manage larger expenses or consolidate debt.
- No Annual Fee: All these benefits come without an annual fee, making it a wallet-friendly choice.
Dining Out or Ordering In?
Whether you’re a foodie who loves trying out new restaurants or someone who prefers the comfort of home-cooked meals and takeout, this card is a solid choice for foodie cashback. That 3% cash back on dining means every meal, be it a fancy dinner or a quick coffee, adds to your rewards.
Stream and Earn
From movies to music, if you’re paying for streaming, why not get rewarded for it? With 3% back on eligible streaming services, every episode, song, or movie becomes a bit more satisfying.
More Than Just Dining and Streaming
While dining and streaming are the highlights, don’t forget about the other perks. You also get 3% on your groceries, 5% on travel booked through Capital One Travel, and 1% on all other spending.
The sign-up bonus is a great way to kickstart your rewards, and the introductory APR can be a real boon if you have some big purchases coming up or want to manage existing debt.
5. Citi Double Cash® Card: Simplified Earnings with a Strong 2% Return
If you’re after a straightforward, no-fuss cash back card, the Citi Double Cash® Card should be on your radar. With its unique earn-when-you-buy and earn-when-you-pay structure, this card ensures you’re getting a solid 2% return on every eligible purchase. No need to track categories or remember activation dates; just spend and earn, then pay and earn again.
- Double Cash Back: Earn 1% when you make a purchase and another 1% when you pay it off, leading to a total of 2% cashback.
- Introductory APR on Balance Transfers: Benefit from a 0% intro APR for 18 months on balance transfers, followed by a variable APR of 19.24%-29.24%.
- No Annual Fee: Enjoy all these rewards without the burden of an annual fee.
- Flexibility in Redemptions: Redeem your cash back as a statement credit, check, or direct deposit, or even convert it to ThankYou points.
- Lost Wallet® Service: If you lose your card, Citi can replace it, usually within 24 hours, and provide emergency cash.
The key draw of the Citi Double Cash® Card lies in its simplicity. You don’t need to juggle categories or remember to activate anything. Just use your card for your everyday purchases, and watch your rewards accumulate.
Balance Transfers Made Attractive
If you’re carrying a balance on another card, the introductory APR offer can be a lifesaver. With 18 months of 0% APR on balance transfers, you have a generous window to pay down your balance without accruing interest.
A Few Considerations
While the card shines in many areas, it’s worth noting a few potential drawbacks. There’s no sign-up bonus, which many competitors offer. Also, if you’re planning to travel abroad, the 3% foreign transaction fee can add up. Lastly, while the card offers an introductory APR for 18 months on balance transfers, there’s no such offer for purchases. But it’s still a great option if you want a card for everyday purchases, whether that’s wholesale clubs, grocery stores, or streaming subscriptions. The 2% cashback on your combined purchases can really add up.
6. Discover it® Cash Back: Tailoring Rewards to Your Spending Habits
Seeking a card that rewards you generously in ever-changing categories? The Discover it® Cash Back might be your ideal companion. With 5% cash back in rotating categories and an unmatched first-year cash-back match, this card ensures you’re always in the sweet spot of rewards, no matter where your spending takes you.
- Rotating Rewards: Earn 5% cash back in categories that change each quarter, up to $1,500 in purchases, then 1%. In the past, we’ve seen categories like gas stations, grocery stores, restaurants, and more.
- First-Year Bonus: At the end of your first year, Discover will match all the cashback you’ve earned. So, if you earn $300, you’ll get an additional $300.
- Introductory 0% APR: Benefit from a 0% intro APR on purchases and balance transfers for 15 months. After that, a variable APR of 17.24%-28.24% applies.
- No Foreign Transaction Fees: Traveling abroad? Use your card without worrying about extra fees on international purchases.
- No Annual Fee: Keep more of your cash back with no annual fee.
Maximizing Your Rotating Rewards
With the Discover it® Cash Back, every quarter feels like a new opportunity. Whether you’re fueling up, dining out, or shopping at specific retailers, there’s always a chance to earn big. Just remember to activate those categories to reap the benefits.
First-Year Bonus: A Unique Twist
While many cards offer sign-up bonuses, the Discover it® Cash Back takes a different approach. Instead of a fixed bonus after meeting a spending threshold, you’ll get a match of all the cash back you’ve earned in your first year. The more you spend, the bigger your bonus.
Travel with Confidence
Whether you’re exploring a new city or shopping overseas, the absence of foreign transaction fees means you can use your card freely, without any unexpected charges.
Not the Simplest Card
This is not the simplest cashback credit card around. You only get the 5% on an eligible purchase in the selected category for that quarter, and you don’t get a say in which categories you can spend. And for your everyday purchases not in the bonus categories, you’ll only earn 1% cashback.
7. Amazon Prime Visa Card: A Shopper’s Delight for Amazon and Whole Foods
If Amazon and Whole Foods are your go-to shopping destinations, the Amazon Prime Visa Card is a brilliant choice of cashback credit card. Issued by Chase, this card doesn’t just offer impressive rewards for Amazon and Whole Foods purchases, but it also extends its generosity to restaurants, drugstores, gas stations, and more. You can use it anywhere Visa is accepted, making it a versatile choice for all your spending needs.
- Stellar Rewards at Amazon and Whole Foods: Earn a whopping 5% back on all your purchases at Amazon.com and Whole Foods Market.
- Diverse Bonus Categories: Get 5% back on purchases through Chase Travel, 2% back at restaurants, gas stations, and on local transit (including rideshares).
- Sign-up Bonus: As a Prime member, you’ll receive an Amazon Gift Card worth $100 (or more) instantly upon approval.
- No Foreign Transaction Fees: Travel internationally without worrying about extra charges on your purchases.
- Flexible Redemptions: Redeem your rewards for eligible Amazon.com purchases or opt for cash back, travel, and gift cards through Chase.
More Than Just an Amazon Card
While the 5% cash back at Amazon and Whole Foods is undoubtedly enticing, the card’s versatility shines through its bonus categories. Whether you’re dining out, fueling up, or booking a trip, the Amazon Prime Visa ensures you’re always earning.
Though the card itself comes with a $0 annual fee, it’s essential to remember that you need to be an Amazon Prime member to get one of these cards. The membership costs $139 annually (or $69 for students), which might be a factor to consider based on your shopping habits.
But if you spend around $3,500 a year between Amazon and Whole Foods Market, that’s the Prime membership cost taken care of in cashback alone.
Travel and Protection Perks
On top of the cash-back rewards, the card offers a suite of travel protections, including travel accident insurance, lost luggage reimbursement, and even auto rental collision damage waiver. Plus, with the Visa Signature concierge service, you’ve got a helping hand whenever you need it.
8. Bank of America® Unlimited Cash Rewards Card: Tailored Rewards for Loyal Customers
For those who have a close relationship with Bank of America, the Bank of America® Unlimited Cash Rewards credit card is like a thank-you note in the form of cashback. With a consistent 1.5% rewards rate on all purchases and the potential to boost that rate significantly if you’re a Bank of America customer, this card offers both simplicity and the potential for elevated rewards.
- Consistent Cash Back: Earn a flat 1.5% cash back on every purchase you make.
- Preferred Rewards Boost: If you’re part of Bank of America’s Preferred Rewards program, you could earn up to 2.62% cash back on every purchase, depending on your tier.
- Sign-up Bonus: If you spend $1,000 in the first 90 days of opening your account, you’ll earn a $200 cash rewards bonus.
- Introductory APR Offer: Enjoy a 0% intro APR on purchases and balance transfers for 15 billing cycles, then a variable APR of 18.24%-28.24% applies.
- No Annual Fee: Keep more of your rewards with no annual fee to think about.
Maximizing Your Relationship with Bank of America
If you’ve got a chunk of change with Bank of America or Merrill, this card becomes even more rewarding. By joining the Preferred Rewards program, you can boost your cashback rate significantly. The more you have with them, the more you earn back on your card.
Simple and Straightforward Rewards
The Bank of America® Unlimited Cash Rewards credit card is simple. There’s no need to track rotating categories or sign up for special promotions. Your rewards are straightforward: flat-rate cash back on everything, with the potential for a boost if you’re a Bank of America loyalist.
Things to Consider
While the card offers a lot, bear in mind that the highest reward rates are reserved for those deeply tied to Bank of America. If you’re not already a customer or don’t plan to become one, there are other credit card issuers that will likely better meet your needs, particularly on certain types of purchases.
9. Chase Freedom Flex℠: Mastering the Art of Rotating Rewards
Are you someone who loves maximizing rewards? The Chase Freedom Flex℠ could be the right cash back rewards card for you.
With its unique blend of fixed and rotating bonus categories, this card ensures you’re always in the prime position to earn, although it’s not the simplest. Whether you’re dining out, shopping at your favorite stores, or just filling up your gas tank, there’s a reward waiting for you. And with a $0 annual fee, it’s all pure profit for your pocket.
It’s a particularly strong contender if you don’t mind putting a little work in to make the most of your credit card reward programs.
- Rotating Bonus Categories: Earn 5% cash back in categories that change each quarter, up to $1,500 in combined spending. Activation is required.
- Fixed Bonus Categories: Consistently earn 3% back on dining (including takeout and delivery) and drugstore purchases. Plus, get 5% back on travel booked through Chase Ultimate Rewards. You get 1% cashback on all other purchases.
- Sign-up Bonus: Grab a $200 bonus after spending $500 in the first three months.
- Introductory APR: Enjoy a 0% intro APR on purchases and balance transfers for 15 months, followed by a variable APR of 20.49%-29.24%.
- No Foreign Transaction Fees: Travel abroad without the worry of extra charges on your international buys.
Rotating Rewards: A Seasonal Delight
With the Chase Freedom Flex℠, every quarter feels like a new adventure. From gas stations to grocery stores, the rotating categories ensure you’re always finding new ways to earn big. Just remember to activate those categories each quarter, or you’ll miss out on potentially big rewards.
Fixed Categories: Consistent Earning
While the rotating categories keep things fresh, the fixed bonus categories ensure you’re always earning, no matter the season. Whether you’re grabbing a bite, picking up a prescription, or planning a trip, the rewards keep coming.
Pairing with Other Chase Cards
While the Chase Freedom Flex℠ is a powerhouse on its own, pairing it with other Chase cards can unlock even more value. By combining your rewards with cards like the Chase Sapphire Preferred® or Reserve®, you can elevate your travel redemption options and get more bang for your buck.
10. Capital One Quicksilver Cash Rewards Credit Card: Setting the Standard for Flat-Rate Cash Back
When it comes to straightforward, no-gimmick cash back, the Capital One Quicksilver Cash Rewards Credit Card has been a trailblazer. Offering a consistent 1.5% cash back on all purchases, this card has set a benchmark for many. But what truly makes it stand out is its blend of simplicity with a few unique perks, ensuring that you’re rewarded for every swipe, tap, or click.
- Flat-Rate Cash Back: Enjoy a steady 1.5% cash back on every purchase, every day.
- Special Travel Rewards: Earn an impressive 5% cash back when you go through Capital One Travel to book hotels and rental cars.
- Sign-up Bonus: If you spend $500 in the first three months, you’ll get a $200 bonus.
- Introductory APR: Benefit from a 0% intro APR on purchases and balance transfers for 15 months, followed by a variable APR.
- No Annual Fee: Keep things simple and cost-effective with no annual fee to worry about.
More Than Just 1.5% Back
While the 1.5% flat-rate cashback on everything, whether that’s combined purchases for food and entertainment, new furniture, wholesale clubs, or your weekly grocery shop, is a definite highlight, the card’s 5% rewards on specific travel bookings give you an added incentive to plan that much-needed getaway. Whether it’s a weekend road trip or a staycation, your rewards pile up faster.
Considering Other Spending Habits
It’s worth noting that if your spending leans heavily towards specific categories like gas or groceries, there might be other cards that cater more directly to those habits. However, for those who value simplicity and consistent rewards across all spending, the Capital One Quicksilver remains a top choice.