Here are what I feel are the best cash back credit cards available on the market today. I’m also a fan of cards that use points and miles, but here I am focusing on cash back only. Each of them works a little differently, so I’ve made a brief summary of each one so you can decide which ones are best for your spending patterns. Mix and match! With them, I can get benefits like fraud protection, expense tracking, and the most flexible of rewards, cold hard cash. Then I pay off my bill in full each month, and not a penny of interest is paid while I rack up hundreds of dollars a year in savings on things I would have bought anyway (over $300 last year).
BankAmericard Cash Rewards™ Credit Card – The BankAmericard Cash Rewards™ credit card offers 1% cash back on every purchase, 2% at grocery stores and 3% on gas for the first $1,500 in combined grocery/gas purchases each quarter. As an added bonus, a $100 online cash rewards bonus is provided after spending $500 in purchases during the first 90 days of account opening. See terms for pricing details. Plus, get an additional 10% customer bonus every time you redeem your cash back into a Bank of America® checking or savings account. No annual fee, no changing categories and rewards do not expire.
Chase Freedom Unlimited – A brand new cash back credit card, the Chase Freedom Unlimited kicks off by offering $150 cash back after spending $500 in the first three months of card ownership. Unlike the original Chase Freedom Visa, this card offers a flat 1.5% cash back rate on all purchases (no tiers or spending limits). Also included is a 0% intro APR on purchases and balance transfers for 15 months. After the intro period, a variable APR of 14.24-23.24% applies. There is no annual fee to won the Chase Freedom Unlimited and the cash back comes in the form of Ultimate Rewards points (which can skillfully be used to increase your rewards rate)!
Discover it® Double Cash Back your first year – 1% cash back on all purchases, 5% cash back on rotating categories throughout the year and DOUBLE cash back during your first year! (Meaning 2% everyday and 10% on categories!) 0% APR on purchases and balance transfers for 12 months*. The variable purchase APR after the intro period expires is currently 11.24% – 23.24%. No annual fee. The Discover it Double Cash Back your first year is an offering from Discover, as they’ve retired their Discover More Cards. Also included with the Discover it card is no over limit fee. No foreign transaction fee. And no late fee for your first late payment. Plus they won’t raise your APR for paying late.* The balance transfer fee is 3%.
Citi Double Cash Card – Get 0% Intro APR on Balance Transfers for 18 months from our partner Citi. After that, the purchase & balance transfer APR will be 13.24%-23.24% based upon your creditworthiness.* There is a balance transfer fee of either $5 or 3% of the amount of each transfer. Perhaps the greatest feature of the Citi Double Cash Card is the 1% cash back that cardholders will receive on all purchases, followed by another 1% cash back when they pay for those purchases. When you factor in the great intro APR with the top cash back rewards program on the planet, the Citi Double Cash Card doesn’t just have a top balance transfer offer; but a top overall offer.
Capital One Quicksilver Cash Rewards Credit Card – Every cardmember of the Capital One Quicksilver Cash Rewards Credit Card will earn 1.5% cash back on all purchases. A one time $100 cash bonus is given after spending $500 on the card within the first three months. Also included is a 0% APR on both purchases and balance transfers until November of 2016, at which point the standard APR for both becomes 13.24% – 23.24% variable. When using the Capital One Quicksilver Cash Rewards Credit Card, there are no foreign transaction fees and there’s no annual fee to own.
Chase Freedom® – $150 Bonus – The Chase Freedom card offers unlimited 1% Cash Back on all purchases and You’ll enjoy new 5% categories every 3 months like gas stations, restaurants and Amazon.com. It’s free and easy to activate your bonus each quarter. From January 1st through March 31st, 2015 you can earn 5% cash back on up to $1,500 spent in the following categories: Gasoline and local commuter transportation. In addition, you can earn a $150 bonus after you make $500 in purchases in your first 3 months from account opening and a $25 bonus after you add your first authorized user and make a purchase within this same 3-month period. Finally, you can get extra cash back when you shop through select merchants in the Chase Ultimate Rewards Mall. No annual fee and rewards never expire.
Fidelity® Investment Rewards® American Express® Card – The Fidelity Investment Rewards American Express Card earns 2% on all purchases, deposited into your eligible Fidelity account. No sign-up bonus currently available. No annual fee. The catch? You must open a brokerage trading account, IRA account, or 529 college savings plan with Fidelity, and all cash back earned must be deposited into that account. Withdrawals from IRA and 529 must be qualified according to IRS tax rules, or are subject to penalties.
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