Cash Back Credit Cards – Which Is The Best Deal?

cash back

Cash Back Credit Cards are ideal for those who want solid rewards without a lot of hassle. Rather than trying to churn miles or points cards, there are several cash rewards cards that offer significant benefits.

There are three types of cash back cards:

  1. One Reward Rate: The most simple approach is a card that pays the same reward percentage on all purchases. The industry standard is 1%, but for those with good credit, you can nab 1.5% or even 2% on every purchase.
  2. 5% Rotating Categories: These cards offer 5% cash back on specific categories of purchases that change very three months. There are spending caps eligible for the 5% cash back, typically $1,500 each quarter. All other purchases typically earn 1% cash back.
  3. Bonus Categories: Finally, some cards offer bonus rewards for certain categories of purchases, such as restaurants, groceries, or gas. The bonus rates can vary based on the categories, with some cards offering multiple bonus categories. Purchases outside of the bonus categories typically pay 1%.

Best Cash Back Credit Card

Best Cash Back Credit CardThe best card in my opinion is the Citi Double Cash MasterCard. It’s the card I carry. It offers 1% on all purchases + 1% when you pay for those purchases. There are no rotating categories to worry about, and the total 2% cash back is excellent.  Citi Double Cash Review.

Credit Card Cash Back RewardsSign-Up BonusAnnual Fee
Discover it®5% cash back on rotating categories; 1% on all other purchasesN/A$0
Citi Double Cash MasterCard1% on every purchase + 1% as you pay for the purchasesN/A$0
Chase Freedom®5% cash back on rotating categories; 1% on other purchases$100*$0
Blue Cash Everyday® Card from American Express3% cash back at U.S. supermarkets up to $6,000 per year in purchases, 2% U.S. gas stations & select U.S. dept stores, 1% other purchases.$100*$0
The Amex EveryDaySM Credit Card from American Express15 months15 months$0
Capital One® Platinum Prestige Credit Card15 months15 months$0
Barclaycard Arrival™ World MasterCard®12 months12 months$0

Comments on this entry are closed.

  • LOIS J TUTTLE

    I have a USBANK FLEXPERKS VISA CARD. HOW DO I CASH IN REWARDS FOR MONEY SPENT AND GET A GIFT CERTIFICATE?

  • B ILL TALMADGE

    You missed the best cards of all. Fidelity Investments has an American Express card with 2 % back on everything. It also has a Visa card with 1.5 % back on everything (which I use where American Express is not accepted). One more tip: I have 2 American Express cards. One i use for automatic billing (I keep in my home). One I use for everyday use. If someone steals my everyday number (the more common event) I dont have to call everyone on my automatic billing to change the card

    • Rob Berger

      Bill that is a great card if you have a Fidelity account, want an Amex, and want your rewards deposited into a brokerage account. I still prefer the Barclay’s Arrival Card as you can actually earn 2.2% for travel.