If you’re already using credit cards to cover expenses such as travel, groceries, gas, and streaming services, why not earn some rewards while you’re at it? With cash back credit cards, you can earn rewards for your spending and put some money back into your pocket.
Cash back rewards are typically calculated as a percentage of your purchases. For instance, a card that offers 2% cash back on up to $200 in purchases would give you $4 in rewards. These rewards can be issued as either dollars or redeemable points. Generally, cash back cards fall into one of three categories, which you’re likely to encounter:
- Flat rate cash back cards: These cards offer one cash back rate for all credit card purchases, regardless of the spending category.
- Fixed category cash back cards: These cards offer rewards for spending within certain categories, for instance groceries, restaurants, gas, travel, etc.
- Rotating category cash back cards: These cards work just like the fixed category cards. However, the categories earning cash back rewards change regularly, typically every three months.
Now that you understand how cash back credit cards work and how to choose one that matches your spending habits, let’s take a look at the top ten cards to consider.
- Capital One SavorOne Cash Rewards Credit Card
- Best for: Entertainment, groceries, and dining
- Rewards rate: 1%-8% depending on the spending category
- Annual fee: $0
- Welcome offer: $200 cash bonus when you spend $500 within the first three months
If you’re an out and about person who uses credit cards for restaurants, travel, and entertainment, you may have a lot to like about the Capital One SavorOne cash rewards credit card. It offers an unlimited 3% cash back on dining, eligible streaming services, groceries, and entertainment (tickets to theme parks, movies, attractions, sporting events, etc.) Other purchases that don’t fall into these categories have a 1% reward rate. When you book hotels and rental cars through Capital One Travel, you will receive an unlimited 5% cash back. Capital One Entertainment purchases and tickets at Vivid Seats earn the highest reward rates of 8%.
- Wells Fargo Active Cash Card
- Best for: High flat rate cash back rewards and other incentives
- Rewards rate: Unlimited 2% cash back on various purchases
- Annual fee: $0
- Welcome offer: $200 cash bonus after making purchases of $1,000 within the first three months
For those seeking a straightforward rewards system, the Wells Fargo Active Cash Card is an exceptional choice. With unlimited 2% cash back on a broad range of purchases, this card offers a flat-rate rewards structure that’s easy to comprehend. Moreover, if you spend $1,000 in the first three months, you’ll receive a $200 cash rewards bonus.
As a new cardholder, you’ll also receive a 0% introductory APR on both purchases and balance transfers, followed by a variable APR of 17.99%, 22.99%, or 27.99%. The card comes with additional features that add value, such as luxury hotel perks, access to Visa Signature Concierge, and up to $600 in cell phone protection.
- Chase Freedom Unlimited
- Best for: Generous sign up bonus, travel and drugstore purchases
- Rewards rate: 1.5%-6.5%
- Annual fee: $0
- Welcome offer: $300
If you’re looking to earn higher-than-average rewards on travel-related purchases, the Chase Freedom Unlimited cash back credit card is an excellent option. Cardholders can earn 5% cash back on travel bookings through Chase Ultimate Rewards, 3% on dining and drugstore purchases, and 1.5% cash back on all other expenses. Additionally, the card offers an appealing sign-up bonus: an extra 1.5% cash back on up to $20,000 in purchases during the first year.
The card comes with a zero APR period of up to 15 months, followed by a variable rate ranging from 17.24% to 25.99%. Overall, this card is a great choice for those who frequently make travel-related purchases and want to earn cash back rewards.
- Citi Double Cash Card
- Best for: Flat rate structure and building good credit card habits
- Rewards rate: 1%-2% (unlimited 1% cash back on purchases and 1% on balance payments
- Annual fee: $0
- Welcome offer: $200 cash back after spending $1,500 on purchases in the first six months
The Citi Double cash back card is a great way to incentivize timely credit card payments. Every purchase earns you 1% cash back, and when you pay it off, you receive an additional 1% cash back. For a limited time, the card also offers $200 cash back if you spend $1,500 on purchases within the first six months of opening the account. The duration of this promotion is not specified by the issuer.
Moreover, you can transfer credit card debt to the card and benefit from the generous 18-month 0% APR introductory period. However, if you don’t pay off the balance within the promotional period, the interest rates can range from 16.99% to 26.99%. With all these features combined, the Citi Double cash back card is an excellent choice for individuals who value rewards for timely payments and want to make the most out of their purchases.
- Capital One Quicksilver Cash Rewards Credit Card
- Best for: Flat rate structure
- Rewards rate: Unlimited 1.5 percent cash back on all purchases
- Annual fee: $0
- Welcome offer: $200 cash bonus after spending $500 on purchases within the first three months
Capital One Quicksilver cash rewards credit card is one of the best flat-rate cash back cards. It provides unlimited 1.5% cash back on all purchases and 5% cash back on hotel and rental car reservations made through Capital One Travel. You also get a 0% APR on purchases and balance transfers for the first 15 months. Following that, the regular rates range from 17.99 percent to 27.99 percent.
- Bank of America Customized Cash Rewards Credit Card
- Best for: Customized cash back rewards
- Rewards rate: 3% cash back on personalized categories, 2% on grocery stores and wholesale clubs, and 1% on everything else
- Annual fee: $0
- Welcome offer: $200 online cash rewards after spending $1,000 within the first 90 days of account opening
The Bank of America Customized cash rewards credit card is a great option if you’re looking for a cash-back credit card that can adapt to your changing purchase categories while offering above-average rates. You can earn 3% cash back in a category of your choice, such as gas, online shopping, dining, travel, or drugstore. Additionally, you get 2% cash back at grocery stores and wholesale clubs and an unlimited 1% back on other spending categories.
However, there is a maximum combined quarterly purchase limit of $2,500 for the 3% and 2% reward categories. Once you reach this limit, subsequent purchases within the quarter only receive 1% cash back, which may not be ideal for big spenders. Despite this limitation, the Bank of America Customized cash rewards credit card is still a solid choice for those seeking a flexible cash-back card with high rewards rates.
As a new Bank of America Customized cash rewards credit cardholder, you can also take advantage of the 0% intro APR on balance transfers and purchases for 18 billing cycles. The card’s regular rate is between 16.99% and 26.99% after the intro period.
- Blue Cash Preferred Card from American Express
- Best for: Everyday essentials like groceries
- Rewards rate: 1-6% (6% at U.S supermarkets for up to $6,000 per year and 1% after the limit
- Annual fee: $95
- Welcome offer: $350 statement credit once you spend $3,000 within the first six months.
The American Express Blue Cash Preferred Card is a well-rounded card that can help you get the most out of your everyday purchases. It offers 6% cash back on purchases of up to $6,000 in two categories: US supermarkets and eligible streaming services. After reaching the spending limit, the reward rates are reduced to 1%. It also provides 3% cash back on transit/US gas stations and 1% cash back on all other purchases.
New Blue Cash Preferred cardholders are eligible for a 12-month 0% introductory APR period on both balance transfers and purchases, after which regular APRs range from 16.99 percent to 27.99 percent. On the flip side, the card has a $95 annual fee.
- Discover it Cash Back
- Best for: Rotating reward categories and cash-back match
- Rewards rate: 1%-5%
- Annual fee: $0
- Welcome offer: Automatic and unlimited cashback match for the first year
Each quarter, the Discover It cash back card offers 5% cash back on purchases of up to $1,500 in rotating categories. This means you could get money back on Amazon.com purchases in the first quarter, gas stations in the second, and so on. To begin accumulating rewards, you must activate the category each quarter, which may appear complicated to first-timers. When you reach the $1,500 maximum, the cashback rate drops to 1% for the rest of the quarter. All other purchases that don’t fall into the rotating categories are automatically eligible for 1% cashback.
One of the card’s best features is the Cashback Match program. It effectively doubles all cash rewards earned during the first year of account opening. So, if you earned $150 in cash back during your first year, Discover will credit your account with another $150. The card offers a 0% intro APR on purchases and balance transfers for 15 months. After the introductory period, the regular APR ranges from 14.99 percent to 25.99 percent.
- Citi Custom Cash Card
- Best for: Ongoing rewards and flat-rate offers
- Rewards rate: 1%-5% (under your highest spend category each billing cycle)
- Annual fee: $0
- Welcome offer: $200 cash back once you make purchases worth $1,500 in the first six months
The Citi Custom Cash Card allows you to earn an eye-popping 5% cash back every billing cycle for the first $500 spent in your most popular category. The best part is that you don’t have to keep track of what category is eligible for the 5% reward. This process is automatic, and your rewards are adjusted based on your spending habits for each billing cycle. The card also earns an unlimited 1% cash back on all other purchases.
- Amazon Prime Rewards Visa Signature Card
- Best for: Online shopping at Amazon.com
- Rewards rate: 1-5%
- Annual fee: $0
- Welcome offer: $150 Amazon gift card after approval
This card is ideal for Amazon Prime members who shop frequently. It provides 2% cash back at restaurants, gas stations, and drugstores, 5% cash back at Amazon.com and Whole Foods Market, and 1% cash back on everything else.
The major downside of the Amazon Prime Rewards Visa Signature Card is the $139 Amazon Prime subscription requirement. However, frequent shoppers can quickly recoup their subscription costs and enjoy benefits such as Chase travel and purchase protections.
The card does not have an introductory APR, and the regular APR ranges from 14.24 percent to 22.24 percent.
