11 Best Cash Back Credit Cards of 2023

Cash back credit cards are an easy way to generate income every month. The key is to find cards with the highest rewards that match your spending habits. To help, here is our updated list of the best cash back credit cards.

In 2018 I began saving and investing the cash back rewards we earned from credit cards. In 2019 alone we earned $4,177.83 in credit card rewards. As of February 2020, our balance has grown to $9,306.53. As of 2022, our balance has grown to $38,232.08.

Without sacrificing our lifestyle in any way, we've been able to save more than $38,000 by strategically using credit card rewards. To help you maximize your rewards, in this article we'll look at the best cash back credit cards available today.

3 Types of Cash Back Credit Cards

As you map out your own cash back strategy, keep in mind that there are three broad types of cash back cards.

• 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. This should be the first type of cash back card you get and serve as your everyday card.
• 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%. This cards should supplement your everyday card if you want to maximize your rewards.
• 5% Rotating Categories: These cards offer 5% cash back on specific categories of purchases that change every 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.

As we look at the top cash back cards, we'll point out if a card charges an annual fee, offers a signup bonus, or limits its cash back rewards in any way.

Best Cash Back Credit Cards

Citi® Double Cash Card - 18 month BT offer

Regular readers know this is one of my favorite credit cards. My wife and I have used the Citi® Double Cash Card - 18 month BT offer for years and earned thousands of dollars in cash back. The Citi® Double Cash Card - 18 month BT offer is about as simple on rewards as a credit card can be.

Rewards:

• Annual Fee: $0
• Welcome Bonus: None
• 0% Intro APR: Get 0% APY on balance transfers for the first 18 months, then a variable APR of 18.49% - 28.49%.
• Regular APR: 18.49% - 28.49%
• Foreign Transaction Fee: 3% of the U.S. dollar amount of each purchase.

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Chase Freedom Unlimited®

The Chase Freedom Unlimited® is a cash back card offering 1.5% to 6.5% cash back. Of all the cards on the market offering 1.5% cash back, it's by far the best. It has no annual fee.

This card could serve as your everyday card. While its flat rate is 1.5%, not 2%, its increased rewards can often make up the difference and then some.

Rewards:

• Annual Fee: $0
• Welcome Bonus:
  Welcome Bonus: Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) – worth up to $300 cash back. That's 6.5% on travel purchased through Chase Ultimate Rewards®, 4.5% on dining and drugstores, and 3% on all other purchases.
• 0% Intro APR: Get 0% APR on purchases and balance transfers for the first 15 months, then a variable APR of 19.49% - 28.24%.
• Regular APR: 19.49% - 28.24%
• Foreign Transaction Fee: 3% of the amount of each transaction in U.S. dollars.

On top of that, it offers a signup bonus that increases the reward rate on all categories in the first year.

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Blue Cash Preferred® Card from American Express

The Blue Cash Preferred® Card from American Express is best known for its 6% cash back at the grocery store (subject to spending caps). What many don't know, however, is that it also offers 6% cash back on select streaming services. For those that have lost count of just how many streaming services they have, this card's rewards could add up.

We view the card as best for families or others who can take full advantage of the 6% cash back categories. Here's a breakdown (Terms Apply):

Rewards:

• Annual Fee: $95, waived for the first year
• Welcome Bonus: Get $250 cash back after you spend $3,000 in the first 6 months.
• 0% Intro APR: Get 0% on purchases for 12 months, then a variable APR of 18.74% - 29.74%.
• Regular APR: 18.74% - 29.74%
• Foreign Transaction Fee: 2.7% of each transaction after conversion to US dollars.

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U.S. Bank Cash+ Visa Signature Card

The U.S. Bank Cash+ Visa Signature Card stands out as one of the best cash back credit cards for travel. It pays 5% cash back on eligible airfare, hotels and car rentals booked through the Rewards Travel Center. It also pays 5% cash back on your first $2,000 in combined eligible purchases each quarter on two categories you choose, and 2% back on one everyday category of your choosing.

• Annual Fee: $0
• Welcome Bonus: Get a $200 bonus after you spend $1,000 in the first 120 days after account opening
• 0% Intro APR: Get 0% APR on purchases and balance transfers for the first 15 billing cycles, then 18.99% - 28.99% variable.
• Regular APR:  18.99% - 28.99%
• Foreign Transaction Fee: 2% of each foreign purchase transaction or foreign ATM advance transaction in U.S. Dollars 3% of each foreign purchase transaction or foreign ATM advance transaction in a Foreign Currency

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Capital One SavorOne Cash Rewards Credit Card

The Capital One SavorOne Cash Rewards Credit Card is the no annual fee version of the Savor card. You save on the annual fee, but the rewards aren't as rich. Still, for a no fee card, earning up to 3% cash back on popular everyday categories is a solid offer.

Rewards:

• Annual Fee: $0
• Welcome Bonus: Get $200 cash back after you spend $500 in the first 3 months.
• 0% Intro APR: Get 0% APR on purchases and balance transfers for the first 15 months, then a variable APR of 19.24% - 29.24%.
• Regular APR:  19.24% - 29.24%
• Foreign Transaction Fee: None

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U.S. Bank Altitude Go Visa Signature Card

The U.S. Bank Altitude Go Visa Signature Card combines a generous signup bonus with up to 4x in rewards. There is no annual fee, plus you get a $15 credit for annual streaming services like Netflix or Disney +, and 2x points on streaming services as well.

Rewards:

• Annual Fee: $0
• Welcome Bonus: Get 20,000 bonus points when you spend $1,000 in the first 90 days.
• 0% Intro APR: Get 0% APR on purchases and balance transfers for the first 12 billing cycles, then 19.49% - 28.49% variable.
• Regular APR: 19.49% - 28.49%
• Foreign Transaction Fee: None

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Chase Freedom Flex(SM)

The Chase Freedom Flex(SM) offers a long list of benefits. It offers a signup bonus and up to 5% cash back. And it manages all of this without charging an annual fee. You also get some nice travel benefits.

The 5% cash back includes rotating categories that change each quarter. This is the only rotating card we recommend. Why? Because it pays out elevated rewards in more than just rotating categories.

Rewards:

• Annual Fee: $0
• Welcome Bonus: Get a $200 bonus after you spend $500 in the first 3 months.
• 0% Intro APR: 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 19.24% - 27.99%.
• Regular APR: 19.24% - 27.99%
• Foreign Transaction Fee: 3% of the amount of each transaction in U.S. dollars.

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Bread Cashback™ American Express® Credit Card

The Bread Cashback™ American Express® Credit Card offers unlimited 2% cash back on purchases you make with the card.¹ There's no annual fee and no foreign transaction fees.²

The card comes with American Express premium benefits including 24-hour emergency assistance, ID theft protection, and early access to buy tickets to concerts and other events.³ However, the card does not offer a welcome bonus. Learn More.

Rewards:

Purchase APR: 19.74%, 27.24%, or 29.99% variable APR

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Capital One Quicksilver Cash Rewards Credit Card

The Capital One Quicksilver Cash Rewards Credit Card is a good option for those who want to use just a single credit card. It pays 1.5% cash back on all purchases. Add a signup bonus and no annual fee, and the card easily makes our list of the top cashback credit cards.

Rewards:

• Annual Fee: $0
• Welcome Bonus: Earn a one-time $200 cash bonus when you spend $500 in the first 3 months.
• 0% Intro APR: Get 0% APR on purchases and balance transfers for the first 15 months, then a variable APR of 19.24% - 29.24%.
• Regular APR: 19.24% - 29.24%
• Foreign Transaction Fee: None

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Capital One QuicksilverOne Cash Rewards Credit Card

The Capital One QuicksilverOne Cash Rewards Credit Card is a good option for those who have less than stellar credit. You get the same 1.5% cash back on all purchases, but you do pay an annual fee. The good news is that payments are reported to all three credit bureaus, enabling you to improve your credit score with on-time payments.

Rewards:  

• Annual Fee: $39
• Welcome Bonus: None
• 0% Intro APR: None
• Regular APR: 29.74%
• Foreign Transaction Fee: None

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Petal 2 Visa Card

The Petal 2 Visa Card is a good option for those who have no credit history. You can earn up to 1.5% cash back on all purchases and up to 10% cash back at select merchants. The card charges no fees and provides tools to help you improve your credit score. It reports to all three credit bureaus.

Rewards:  

• Annual Fee: $0
• Welcome Bonus: None
• 0% Intro APR: None
• Regular APR: 17.49% - 31.49% Variable
• Foreign Transaction Fee: None

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Citi Custom Cash Card

The Citi Custom Cash Card is a new offer from Citi. It aims to compete against other 5% cash back cards with quarterly rotating categories. Those cards are popular due to the cash back rate, but many don't like that you have to sign up each quarter to get the 5%. On top of that, the higher rewards rate is limited to one or two categories per quarter.

Citi solved both of those limitations. First, there is no quarterly signup requirement. Second, you can earn 5% on up to $500 per month from one of several purchase categories that don't change. Citi simply applies the 5% rate to the eligible category in which you've spent the most. It seems like such an obvious solution that I'm surprised another credit card issuer didn't think of it sooner.

Rewards:  

• Annual Fee: $0
• Welcome Bonus: Get $200 cash back when you spend $1,500 in the first 6 months.
• 0% Intro APR: Get 0% APR on purchases and balance transfers for 15 months, then a variable APR of 18.49% - 28.49%.
• Regular APR: 18.49% - 28.49%
• Foreign Transaction Fee: 3% of each purchase transaction in US dollars.

List of Cash Back Credit Cards

We track dozens of cash back cards. Below you'll find a list of those cards, ordered by signup bonus, if any. You can click the card name to get more details about each offer. Remember that signup bonuses have spend requirements you must meet to qualify. Sometimes, the signup bonus is in the form of increased cash back rates the first year, subject to spending caps.

How to Maximize Cash Back Rewards

As I noted above, we save and invest all of our credit card rewards. Over time, we've built a 5-figure portfolio just from credit cards. I'm confident it will soon be 6-figures. Here's the strategy we follow:

Frequently Asked Questions