We’ve analyzed dozens of cash rewards cards to create this list of the best cash back credit cards. These offers include cash back of up to 6%, double cash back rewards, and cards with cash back bonuses.
Cash back credit cards are one of the best ways to put extra money in your pocket. With the top cash rewards giving you 2% or more on every purchase, and many offering bonus cash for new card members, the time is never been better to get a credit card that pays you to use the card. With some of the best cash back credit cards, you can even get 0% on purchases or balance transfers.
As the offers continue to improve, cash back credit cards are becoming more lucrative and currently, there are close to a dozen solid cash back credit card offers. Should you find a card you feel belongs on this list, let us know, and we’ll add it!
1. Discover it®–Cashback Match™
5% cash back on select categories of purchases that change each quarter; 1% back on all other purchases; double cash back for the first year
The Discover it® Cashback Match™ is Discover’s traditional 5% cash back on rotating categories card. In addition, it offers an extremely long 0% introductory APR on balance transfers, all with no annual fee. As with other Discover cards, you get free access to your FICO score.
- Bonus: Discover will double all the cash back you’ve earned at the end of your first year (only for new cardmembers).
- Cash Back Rewards: Earn 5% cash back in categories that change throughout the year, up to the quarterly maximum. You must sign up for these offers each quarter. All other purchases earn 1%.
- Fees: There is no annual fee for this card.
- Credit Needed: Good/Excellent credit.
- Introductory APR: 0% introductory APR for 14 months on purchases and balance transfers.
Bottom Line: One of the best 5% cash back card on rotating categories, with arguably the longest 0% balance transfer offer available. The free FICO score, no annual fee, and double cash back the first year are icing on the cake.
Learn how to apply here.
2. Barclaycard CashForward™ World MasterCard®
1.5% cash back on all purchases + $200 cash bonus + 5% cash bonus on redemptions
The Barclaycard CashForward™ World MasterCard® offers a very generous 1.5% cash back on all purchases with a 5% redemption bonus every time cash back is redeemed.
- Bonus: First time cardholders will earn a $200 cash bonus after spending $1,000 in the first three months of card ownership
- Cash Back Rewards: 1.5% cash back rate on all purchases, no tier limits or spend hurdles to get through + 5% cash redemption bonus
- Fees: No annual fee to own the Barclaycard CashForward™ World MasterCard®
- Credit Needed: Good/Excellent credit.
- Introductory APR: 0% intro APR on balance transfers for the first 15 months. After that, the standard APR is 15.99% – 23.99% variable
Bottom Line: A top cash back credit card that doesn’t mess around with cash rewards. 1.575% cash back on all purchases, no exceptions.
3. Chase Freedom Visa
1% cash back on all purchases + 5% cash back on rotating categories every quarter and a $150 cash bonus.
The Chase Freedom Visa is a credit card I’ve had in my wallet for a long time. The 5% cash back categories are always in line with my spending and the up front bonus makes this a very attractive card for first time credit card holders.
- Bonus: New cardmembers will earn a $150 cash bonus after spending $500 in purchases during the first three months.
- Cash Back Rewards: 1% cash back on all purchases + 5% cash back on purchases from select categories every quarter. $1,500 is the max that can be spent per quarter on 5% cash back categories (after which, 1% cash back is earned)
- Fees: Nope. No annual fee on the Chase Freedom Visa.
- Credit Needed: Good/Excellent credit.
- Introductory APR: 0% intro APR on balance transfers for the first 15 months. After that, the standard APR is 15.99% – 24.74% variable
Bottom Line: One of my favorite cash back credit cards that I always seem to use a little too much around the holidays.
Click here to learn how to apply for this and similar cash back credit cards.
4. Capital One® Quicksilver®Cash Rewards Credit Card
Earn 1.5% on all purchases + a one-time cash bonus. No annual fee
The Capital One® Quicksilver®Cash Rewards Credit Card pays a solid 1.5% on all purchases. The card also offers a one-time $150 bonus and a 0% APR introductory offer on purchases and balance transfers, with no annual fee.
- Bonus: $150 one-time bonus when you spend $500 in purchases in the first three months.
- Cash Back Rewards: Earn 1.5% on all purchases.
- Fees: No annual fee.
- Credit Needed: Excellent credit required.
- Introductory APR: 0% introductory APR on both purchases and balance transfers.
Bottom Line: An excellent choice if you do not want to hassle with rotating categories and you have excellent credit.
Learn how to apply here.
5. Blue Cash Preferred® Card from American Express
Earn up to 6% cash back + a $200 statement credit
The Blue Cash Preferred® Card from American Express offers one of the highest cash back rewards available of up to 6% and a signup cash bonus. There is an annual fee.
- Bonus: Get a $200 statement credit after you spend $1,000 in purchases on your new Card in your first 3 months. You will receive $200 back in the form of a statement credit.
- Cash Back Rewards: Earn Cash Back: 6% U.S. supermarkets up to $6,000 per year in purchases (then 1%), for the first six months 5% cash back on eligible travel purchases (up to $200 back), 3% U.S. gas stations , 1% other purchases. Terms and limitations apply.
- Fees: $95
- Credit Needed: Excellent credit required.
- Introductory APR: 0% intro APR on purchases and balance transfers for 15 months, then a variable rate.
Bottom Line: An excellent cash back card that is well worth the annual fee.
Learn how to apply here.
6. Chase Freedom Unlimited
1.5% cash back on all purchases + $150 cash bonus
One of the newer cash back credit cards available, Chase scraps the 5% cash back categories and offers 1.5% cash back on all purchases, all the time.
- Bonus: Earn a $150 cash bonus after spending $500 in the first three months. Available to new cardholders only.
- Cash Back Rewards: Cardmembers earn 1.5% cash back on all purchases. No tiers, spending limits or hurdles. Cashback never expires and there is no limit to the amount of cash back that can be earned.
- Fees: There is no annual fee attached to the Chase Freedom Unlimited.
- Credit Needed: Excellent credit required.
- Introductory APR: 0% intro APR on purchases and balance transfers for 15 months, then a variable rate of 15.99% – 24.74%.
Bottom Line: For people not interested in using different cards for different types of purchases, the Chase Freedom Unlimited is a great option.
Click here to learn how to apply for this and similar cash back credit cards.
7. Wells Fargo Cash Wise Visa® Card
Earn 1.5% on every purchase + $200 cash bonus
The Wells Fargo Cash Wise Visa® Card is an excellent choice for an everyday credit card. Here’s a summary:
- Earn unlimited 1.5% cash rewards on purchases
- Enjoy 1.8% cash rewards on qualified mobile wallet purchases, like Apple Pay® or Android Pay™, during the first 12 months from account opening
- Get up to $600 protection on your cell phone (subject to $25 deductible) against covered damage or theft when you pay your monthly cellular telephone bill with your Wells Fargo Cash Wise Visa® Card
- No annual fee
In addition, it offers a 0% APR introductory offer on both balance transfers and purchases.
Bottom Line: A good all-purpose card with excellent cash back rewards, a cash bonus, and 0% APR introductory rate.
Learn how to apply here.
8. Fidelity® Rewards Visa Signature® card
A great everyday card with 2% cash back rewards on every single purchase and flexible redemption options.
One of very few 2% cash back earners, the Fidelity® Rewards Visa Signature® card enables its users to rack up points on everything they spend, regardless of the category. No need to remember to sign up for monthly categories or remember gas percentages versus groceries– you’ll earn 2% back whether you buy plane tickets or toilet paper. Depending on your goals, the redemption options are flexible: you have the choice to redeem reward points, like a standard card (travel, merchandise, gift cards, or statement credit) OR deposit cash back funds directly into your Fidelity accounts. Getting 2% back on your monthly expenses and then automatically depositing those earnings into your child’s 529 Plan is a great way to kill two birds with one stone, for example.
- Bonus: Get $100 after you spend $1000 in the first 90 days.
- Cash Back Rewards: Earn 2% cash back on every purchase you make, without worrying about categories. Accumulated cash back can then be deposited directly into as many as 5 of your existing Fidelity account(s), including brokerage, Cash Management, Fidelity-managed 529 College Savings Plan, or retirement accounts. If you meet your contribution limits for the year or would rather use your rewards elsewhere, you can opt for points instead, redeemable for travel, merchandise, gift cards, or a statement credit. Points never cap or expire.
- Fees: No annual fee.
- Introductory APR: No introductory APR is offered.
Bottom Line: An excellent card for everyday use with predictable rewards and flexible redemption options. Its balance transfer and foreign transaction fees make it less beneficial for world travelers but is great for all of your domestic expenses.
9. Discover it® for Students–New! Good Grades Rewards
5% cash back in categories that change each quarter, up to the quarterly maximum. Plus, 1% cash back on all other purchases.
The only student card to make the list, the Discover it® for Students-New! Good Grades Rewards pays 5% cash back in select categories each quarter up to a maximum purchase amount plus 1% on all other purchases. There is no annual fee, and rewards can be used to pay for purchases at Amazon.
- Bonus: Earn $20 cash back each school year your GPA is 3.0 or higher for up to the next five years.
- Cash Back Rewards: Earn 5% on rotating categories up to the quarterly maximum; 1% on all other purchases.
- Fees: No annual fee.
- Credit Needed: Designed for students with Fair credit
- Introductory APR: An excellent card for students. In addition to its reward program, cardholders receive free access to their FICO score.
Bottom Line: A top rated offer for students.
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Cash Back Spending Comparison Table
If you’re having trouble picking the best cash back credit card for your needs, perhaps a few nifty tables will help. I’ve taken three sets of data from the most recent 2016 Bureau of Labor Statistics survey; all representing what the average household spent:
- at the grocery store – $4,049
- at restaurants – $3,154
- on gasoline – $1,909
Let’s take a look at the six consumer cards on our best cash back credit card list and figure out what each of them would save if you spent the exact amount annually you see above.
Cash Back on Grocery Spending
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Cash Back on Restaurant Spending
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Cash Back on Gas Spending
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*Editors Note–Please note that for the tables above, I’ve made the assumption that the Discover it® Cashback Match™ offers a 5% cash back quarterly category for gas, groceries and restaurants every calendar year (which they have for the last five years). I’ve also assumed that quarterly spending is the same across all four quarters.
Lastly, I did not take into consideration the double cash back the Discover it® Cashback Match™ gives cardholders in the first year. To get an accurate reading on what the average family household would save in the first year, all other cars cash back remains the same, and the Discover it® Cashback Match™ is doubled.
The post The Best Cash Back Credit Cards of 2017 appeared first on The Dough Roller.
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