Best Cash Back Credit Cards

When you qualify for a cash back credit card, a percentage of your purchases will be returned in the form of a cash rebate every time you pay off your balance. These cards often include premium perks, such as extended warranty protection and purchase protection, and can help you build credit while earning some of your money back.

Compared to other cards, Chase Freedom Unlimited offers some of the best cash back rewards around. Cardholders can earn up to 6.5% while reaping the benefits of a 0% APR for the first 15 months. The rewards are structured around certain purchases, though, so be sure to read the fine print to learn exactly how much can earn.

Cash back credit cards usually come with detailed rewards plans. In this article, weäll introduce you to five of the best cards and break down their offerings to help you pick the right card for your financial needs.

The 5 Best Cash Back Credit Cards for Your Finances

There are many reasons to apply for a cash back credit card. Perhaps you are looking to save money on your monthly expenses, or you want to earn rewards for your everyday spending. Cash back credit cards offer a great way to do both.

With a cash back credit card, you can earn rewards for your everyday spending, which can be used to offset the cost of your monthly expenses. In addition, cash back credit cards often offer special promotions and bonuses, which can help you save even more money. Check out these five cards and apply online to see if you qualify today.

1. Chase Freedom Unlimited Card

The Chase Freedom Unlimited card is undoubtedly the best cash back credit card in the world. New cardholders are automatically granted an additional 1.5% cashback on all purchases for the first year, up to $20,000, which comes out to a total of $300 cash back.

During the first 15 months, cardholders are also gifted with a 0% APR, helping to ease payment fees. From there, they can benefit from:

  • 6.5% cashback rewards on all travel expenses purchased through Chase Ultimate Rewards®
  • 4.5% cashback on pharmacy and restaurant purchases
  • 3% cashback on all other purchases

After the first 15 months, the APR rises to a variable rate of 16.49%-25.24%. Luckily, though, this card does not have an annual fee. To qualify, applicants will need a credit score above 690.

2. Wells Fargo Active Cash® Card

Unlike most other cash back credit cards, the Wells Fargo Active Cash Card offers a simple flat-rate cashback rewards program. Rather than offering special rates for certain purchases, cardholders are awarded 2% cash back on all purchases. While this might not be as substantial as the higher rate returns on select purchases that other cards offer, it balances out in the long run.

Cardholders also benefit from the following perks:

  • 0% APR for the first 15 months
  • $200 rebate after spending $1,000 in the first 3 months
  • $600 of phone protection when you pay your cell phone bill through Wells Fargo
  • Access to Wells Fargo Visa Signature Concierge Service

After the first 15 months, the APR rises to a variable rate of either 16.49%, 21.49%, or 26.49%. This card does not have an annual fee but you will be charged a 3% foreign transaction fee if you use it overseas. All cashback rewards can be redeemed as a statement credit or you can directly withdraw your rebate from a Wells Fargo ATM.

3. Blue Cash Preferred® Card from American Express

So many cash back rewards cards are structured to offer premium perks for frequenter flyers and travelers. The Blue Cash Preferred® card from American Express breaks with this model and offers variable-rate cashback returns on everyday purchases, such as groceries, gas, and streaming purchases. Essentially, this is the card for everyday people.

Qualifying cardholders can benefit from the following perks:

  • 6% cash back at supermarkets, up to $6,000 annually
  • 6% cash back on streaming subscriptions
  • 3% cash back at American gas stations
  • 1% cash back on all other purchases.

This card comes with a 0% APR for the first 12 months, which then rises to a variable rate of 15.49% to 25.49%. Additionally, the Blue Cash Preferred® card comes with a $95 annual fee, making it slightly more expensive than other options on our list. Nevertheless, this card is more likely to help you save in everyday life than most others.

4. Citi Double Cash Card

The Citi Double Cash card offers a similar rewards plan as the Wells Fargo Active Cash® card, with 2% cashback rewards on all purchases, yet it structures its rebates a little differently. Rather than awarding a flat-rate 2% cash back guarantee, cardholders earn 1% on every purchase and then an additional 1% for every dollar they pay back.

This helps cardholders stay up-to-date on their payments and increases their rebate at the end of the month. Other perks include:

  • 0% APR for the first 18 months
  • Reduced introductory transfer fee of 3%
  • Lower base APR of 15.49%

After the first year and a half, cardholders should expect to pay a 5% transfer fee and their APR could rise to 25.49%, depending on their credit score. This card does not charge an annual fee, though.

5. Discover it® Cash Back Card

The Discover it® Cash Back card is one of the best cash back cards for people with good to excellent credit. Cardholders can benefit from a 0% APR for the first 14 months, as well as 5% cash back on certain quarterly categories that rotate each year.

Currently, these include grocery stores, restaurants, and Amazon.com. All other purchases come with a 1% cash back return. Other Discover it® Cash Back Card perks include:

  • No annual fee
  • Free FICO® credit score
  • 5% cash back on gas and travel purchases
  • 1% cash back on all other purchases

After the first 14 months, the APR rises to a variable rate of 14.49% to 25.49%. All cash back rewards are doubled at the end of the first year, providing cardholders with a great way to boost their savings.

Which Cash Back Credit Card is Best for You?

The best cash back credit card should offer the highest rebate on the purchases you make most frequently. We recommend calculating your average monthly expenses and applying for the card that will earn you the most cash from month to month. No matter which card you choose, be sure to read the fine print and compare offers to make sure you are getting the best possible deal.

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