CASH BACK RATING
5.0
OVERALL RATING
5.0/5.0
What does cash back mean?
Credit card cash back refers to the rewards program offered by certain credit cards that allows you to earn a percentage of “cash” back on your purchase. This usually ranges from 1% to 6%, depending on the card.
For instance, the top card on our list, the Discover it® Cash Back, offers 5% cash back on rotating categories up to the quarterly maximum each time you activate, and 1% unlimited cash back automatically on all other purchases.
If you’re trying to receive cash from an ATM, bank teller, or convenience check with your credit card then that’s actually considered a cash advance. In those cases, you’ll need to contact your card’s customer service center to set up a PIN number. Once you have a PIN, you can withdraw money from your credit card as you would a debit card.
How do cash-back credit cards work?
Depending on the structure of your card’s rewards program, you’ll earn a certain percentage back (usually 1% to 6%) on purchases you make with your cash-back rewards card. The cash back you receive from your purchases will show up on your next credit card statement and your online account. You could think of the cash back as a rebate — and it is one, only there are no annoying forms to fill out or mail in.
Once your cash back rewards hit your account, you can redeem them in a few different ways. The simplest is to lower your monthly credit card bill with a statement credit. So if your credit card bill is $500 for the month, and you earned 5% cash back on all of it, you could redeem that $25 toward your balance, and you’d only have $475 left to pay.
But if you really want actual cash back, your can usually have the cash rewards deposited directly into your bank account, or even receive a paper check in the mail.
Some of the best cash back credit cards, like Discover it® Cash Back and Chase Freedom®, for example, also allow you to redeem your cash back rewards as gift cards.
Other credit cards allow you to donate your points to charity, such as Chase Freedom Unlimited. One caveat to keep in mind, though: A lot of credit cards take a small (roughly 2%) interchange fee from money going to a charity. So if you’re paying a charity with your credit card, not all of it will actually get to the nonprofit, in case that affects your decision.
What credit card gives the most cash back?
The Blue Cash Preferred® Card from American Express has one of the highest rewards rates of any cash back card: 6% cash back at U.S. supermarkets (up to $6,000 per year, then 1%) and 6% cash back on select U.S. streaming subscriptions. It also earns 3% cash back at U.S. gas stations and on transit, and 1% back on other purchases.
Three types of cash back cards
There are three types of cash back credit cards: flat-rate cash back cards, tiered cash back cards, and bonus category cards. Of the three, bonus category cards usually offer the highest rewards rates.
Pros and cons of cash back credit cards
How do I redeem cash back?
Redemption options vary from card to card, but here are the most common methods for redeeming rewards:
It’s important to remember that some of the best cash back cards have limits on how much you must redeem, and when you can redeem it. For example, the Discover it® Cash Back matches your first-year earnings dollar-for-dollar, but you won’t get access to them until the end of your first account year. Be sure to read the terms and conditions before you pull the trigger on a card.
Does it make sense to pay an annual fee?
Applying for a credit card with an annual fee doesn’t always make sense. If your spending habits don’t align with its reward structure, you might net a loss — even if you earn the signup bonus.
For example, the Capital One® QuicksilverOne® Cash Rewards Credit Card earns a flat 1.5% cash back on every purchase. It also has a $39 annual fee. To recoup that fee, you need to spend $2,600 on eligible purchases with your card annually, or $216 a month. Only once you spend more will you begin to earn net rewards.
Can I get my interest rate lowered on my credit card?
Your credit card interest rate isn’t written in stone. In face, 69% of people who asked their issuer for a break got a lower rate.
If you pay your balance in full every month (which we highly recommend), interest rates don’t matter. But if you’re trying to pay down debt, asking for a lower rate could save a significant amount of money in the long run.
Before you call, look for better offers from other lenders that you can use as leverage. If you get a “no” the first time, don’t give up. Instead, ask to speak to a manager and try again.
Making the most of your cash back credit card
The secret to using a cash back credit card effectively is, first of all, to use it a lot – and to pay it off every month, without fail. It doesn’t make much financial sense to, say, save 5% on all of your purchases if you’re consistently spending 15% more on all of them because of the interest you’re carrying from month to month.
So use the card frequently, but only on products and services that you need to buy, to get a lot of cash back, and pay off the card every month. (What you don’t want to do is start thinking, “Hey, I get cash back if I buy all this stuff I don’t need.” Common sense, but it’s easy to fall into that trap if you get too carried away with the idea of getting cash back.)
But there are other strategies you can use to eke out even more cash back rewards. If you have a credit card with rotating bonus categories, for example, such as the Chase Freedom®, you want to pay attention to those. If gas stations are the category for a certain quarter, you want to make sure every dollar you spend on gas is with your Chase Freedom card. If it’s groceries, obviously make sure all of your supermarket spending is done with the Chase Freedom card in that quarter – and maybe even stock up on some nonperishable items you know you’ll use if you’re approaching the end of the quarter and haven’t maxed out the bonus yet. (And if you carry a Chase Sapphire Preferred® Card, you can pool points from both cards and redeem them for more free travel.)
There are other small ways to stretch your rewards, too. The Discover it® Cash Back card, for instance, allows you to redeem your rewards for discounted gift cards. For example, it only takes $90 in cash-back rewards to get a $100 gift card to Lowe’s or Airbnb, among many others offered by Discover, and a $100 gift card to L.L. Bean or Land’s End costs just $80. So whether you’re holiday shopping, ready to book a vacation, or planning a home improvement project, you can get another 10% off or more by trading in your cash-back points for discounted gift cards.
If paying attention to the rotating categories sounds like too much work and not all fun, then you may be better off with a credit card like Capital One® Quicksilver® Cash Rewards Credit Card, which doesn’t have rotating fees. You just earn 1.5% back on everything, no matter what.
Still, if you’re looking for the best cash back credit cards, and you really want to make the most of the one you apply for, cards with rotating categories do offer your best chance to rack up big rewards — if you pay attention to the bonus categories and adjust your shopping routine accordingly. So the question is whether you mind watching the calendar and enjoy the thrill of the cash-back game, or if you’d rather just consistently save money without overthinking it.
Best cash back credit cards of 2019: Summary
Advertiser Disclosure: This post includes references to offers from our partners. We may receive compensation when you click on links to those products. However, the opinions expressed here are ours alone and at no time has the editorial content been provided, reviewed, or approved by any issuer.
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Cash back credit cards are popular because they provide tangible, easy-to-understand benefits. Who doesn’t like getting a credit on their monthly credit card statement – or, better yet, actual cash deposited into the account of their choice? Cash back credit cards can be even more popular than our top-rated gas credit cards and travel rewards cards.
But not all cash back credit cards are created equally.
Some offer the same cash back rate on all purchases. Others offer higher cash back rates on certain spending categories, such as groceries or gas, and lower rates on everything else. Others offer bonus cash back on spending categories that rotate every quarter. A few accrue cash back on purchases and monthly payments. And some cash back cards even hew to hybrid models, with cash back on certain spending categories and different types of rewards (such as airline miles) on others.
You’ll find each type of card on this list of the best cash back cards available to U.S. consumers today. Keep in mind that most cash back credit cards require applicants to have good to excellent credit – usually indicated by a credit score above 700, and sometimes even higher. If you don’t meet that threshold, work on building your credit before applying.
Best Cash Back Credit Cards1. Capital One® Quicksilver® Cash Rewards Credit Card
1.5% Cash Back on All Purchases; $150 Early Spend Bonus
The Capital One Quicksilver Cash Rewards Credit Card complements a host of other Capital One financial products, including the Capital One 360 banking platform. Its cash back perk is attractive and easy to understand: 1.5% cash back on all purchases, everywhere, with no spending caps or rotating categories. You can redeem cash back for a statement credit, bank account deposit, or gift card.
If your spending spans a wide range of categories, this is one of the better general-purpose cash back cards. However, it’s not as strong a choice if you’re looking to maximize your spending in specific categories, such as grocery purchases or travel.
Quicksilver is designed for applicants with good to excellent credit. If you have fair, average, or limited credit, consider applying instead for the Capital One QuicksilverOne Cash Rewards Credit Card, which offers easier qualification for applicants with less-than-perfect credit.
See our Capital One QuicksilverOne Cash Rewards Credit Card Review for more information. Learn more about QuicksilverOne and find out how you can apply here.
Here’s what you need to know about the Capital One Quicksilver Cash Rewards Credit Card:
See our Capital One Quicksilver Cash Rewards Review for more information. Find out how you can apply for this card here.
2. Capital One® Savor® Cash Rewards Credit Card
Unlimited 4% Cash Back on Dining and Entertainment; 2% Cash Back at Grocery Stores; 1% Cash Back Everywhere Else; $300 Early Spend Bonus
Capital One® Savor® Cash Rewards is a premium cash back card designed with foodies in mind. Its unlimited cash back rewards program returns 4% on dining and entertainment spending and 2% on grocery store spending – a nice balance for cardholders who can’t decide whether to eat out or stay in.
The $95 annual fee is worth noting upfront, but the first-year waiver ensures it won’t erode the value of this card’s generous early spend bonus. If you’re looking for a card that helps you save money at restaurants and rewards you during the first few months of membership, Savor should be high on your list.
See our Capital One® Savor® Cash Rewards Review for more information. Find out how you can apply for this card here.
3. Blue Cash Preferred® Card from American Express
6% Cash Back at U.S. Supermarkets and Select Digital Media Services; 3% at U.S. Gas Stations and Transit Operators (Including Rideshare); 1% Everywhere Else
If you love the supermarket, you’ll love the Blue Cash Preferred Card from American Express. You get 6% cash back on all U.S. supermarket transactions, up to a $6,000 annual spending limit. Once you hit $6,000, you get 1% back on U.S. supermarket purchases, with no upper limit.
You’ll also get unlimited 6% cash back on eligible purchases with digital media and streaming providers such as Netflix and HBO.
There’s no spending limit on the U.S. gas station and transit operator categories – you get 3% cash back on every $1 spent in those places, period. American Express treats rideshare operators such as Lyft and Uber as transit operators, which is great news for those who frequently use those services. And you get 1% cash back on all other purchases, with no limits. Cash back comes by statement credit.
Another smaller drawback of the Blue Cash Preferred card is American Express’s restrictive definition of “supermarket.” Superstores like Walmart, wholesale clubs like Costco, and alcohol retailers aren’t considered as supermarkets for this card’s purposes. The annual fee does cut into your earning potential somewhat – but since the 6% supermarket cash back doubles what most competing cards offer, you’re still likely to come out ahead if you take full advantage of this category.
If you’re struggling to meet your $6,000 annual supermarket spending limit with food and dry goods purchases alone, make up the difference by purchasing other merchants’ gift cards at the supermarket checkout counter. It’s like getting an immediate 6% discount at your favorite restaurants, retailers, and e-commerce websites.
See our American Express Blue Cash Preferred Review for more information. Find out how you can apply for this card here.
4. Wells Fargo Cash Wise Visa® Card
Unlimited 1.5% Cash Back on all Purchases; $150 Sign-up Bonus
Wells Fargo Cash Wise Visa is one of a growing cohort of “1.5% cards” – cash back credit cards that earn a flat, unlimited 1.5% return on spending. It comes with a nice sign-up bonus, too – a $150 cash bonus that requires just $500 in spending within the first 3 months, to be exact.
Once you clear the $20 cash back threshold, you can reap your rewards at Wells Fargo ATMs nationwide. When you hit $25, additional doors open – you can then redeem for paper checks, statement credits, or deposits into your Wells Fargo bank account. If you’re already a Wells Fargo deposit account holder, this card comes with low-cost overdraft protection transfer capabilities too. Just remember to opt in after signing up.
See our Wells Fargo Cash Wise Card Review for more information. Find out how you can apply for this card here.
5. Chase Freedom Unlimited®
Double Cash Back in the First Year (Up to $600); Then 1.5% Cash Back on All Purchases
Chase Freedom Unlimited is similar to the flagship Chase Freedom Card, but with an important distinction: Instead of flat 1% cash back and rotating 5% cash back categories with quarterly spending caps, it simply earns an unlimited 1.5% on all purchases. You can redeem for virtually anything, in any amount, at the Chase Ultimate Rewards® portal – including cash equivalents, merchandise, and travel.
Chase Freedom Unlimited has a great (and sometimes overlooked) perk for loyal Chase credit card customers. If you also have the Chase Ink Business Preferred ($95 annual fee) business card or the Chase Sapphire Preferred ($95 annual fee) travel rewards card, you can transfer points earned through Freedom Unlimited to those accounts. You can then transfer those points at a 1-to-1 ratio to a number of different frequent traveler programs, or redeem them for travel purchases through the Ultimate Rewards portal and receive a 25% bonus (for instance, boosting the value of a 50,000-point redemption to $625).
However, keep in mind that you need to obtain either Ink Preferred or Sapphire Preferred/Reserve – and remember, having Chase Freedom Unlimited doesn’t necessarily qualify you for those cards.
See our Chase Freedom Unlimited Review for more information. Find out how you can apply for this card here.
6. Fidelity® Rewards Visa Signature® Credit Card
Unlimited 2% Cash Back Into Your Eligible Fidelity Account
The Fidelity® Rewards Visa Signature® Credit Card is a straightforward spending aid for applicants looking to boost contributions to qualifying Fidelity accounts – and those who simply enjoy earning cash back at above-average rates.
Cardholders who remain in good standing earn unlimited 2% cash back (2 points per $1 spent) on all eligible purchases, with no caps or restrictions on how much you can earn. Cash back doesn’t expire, and with no annual fee, you needn’t feel obligated to use this card as your primary spending aid.
The Fidelity Rewards Visa doesn’t have a ton of value-added perks aside from the standard slate of Visa Signature benefits, such as special travel and shopping offers. But it’s hard to argue with unlimited 2% cash back.
See our Fidelity® Rewards Visa Signature® Credit Card Review for more information. Find out how you can apply for this card here.
7. Citi® Double Cash Card
1% Cash Back When You Spend + 1% Cash Back When You Pay Your Balance; 0% APR on Balance Transfers for 18 Months
Citi Double Cash Card’s two-tiered cash back program rewards cardholders who pay their balances in full each month.
As long as you’re a cardholder in good standing, you’re guaranteed to earn 1% cash back on all eligible purchases that post to your Double Cash account. But you’ll only achieve the card’s effective 2% cash back rate when you pay off your balance in full – as you should, under normal circumstances.
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2% cash back isn’t the only Double Cash benefit worth touting. The card’s 18-month 0% APR balance transfer promotion is among the best in the category, and the value-added perks are unusually generous for a no-annual-fee card.
See our Citi Double Cash Card Review for more information. Find out how you can apply for this card here.
8. HSBC Cash Rewards Mastercard® Credit Card
3% Cash Back in the First 12 Months, Then Unlimited 1.5% Cash Back on All Purchases
The HSBC Cash Rewards Mastercard® Credit Card is a straightforward cash back card with no annual fee and a generous introductory offer that’s worth up to $300 in bonus cash back when fully exploited.
Moving forward, the Cash Rewards Mastercard is one of many unlimited 1.5% cash back cards. But it’s far from typical, thanks to a 10% cash back bonus on your cardmember anniversary, a nice 0% APR introductory promotion, no foreign transaction fees, and a host of retail perks like free 2-day shipping on purchases from more than 100 online stores.
Just mind that first-time HSBC customers need to apply in-branch. Use HSBC’s branch locator to find one near you.
Learn more about this card and find out how to apply here.
9. American Express Cash Magnet™ Card
Unlimited 1.5% Cash Back on All Purchases; Welcome Offer Worth Up to $150
The American Express Cash Magnet™ Card is a great general spending card for consumers who tend not to favor specific purchase categories. Like Chase Freedom Unlimited and Capital One Quicksilver, it earns unlimited 1.5% cash back on all eligible purchases, with no caps or restrictions. And, as a relatively new addition to Amex’s stable, it comes with a generous limited-time welcome offer: up to $150 in bonus cash.
Other perks include a 15-month 0% APR promotion for purchases and balance transfers and a nice lineup of value-added perks, including discount opportunities through Amex Offers. One big drawback is the $25 minimum redemption threshold, which could be an issue for lighter spenders.
See our American Express Cash Magnet Review for more information. Find out how you can apply for this card here.
10. U.S. Bank Cash+™ Visa Signature® Card
5% Cash Back on Up to $2,000 in 2 Category Purchases Every Quarter; Unlimited 2% Back on 1 Category of Your Choice; Unlimited 1% Back on Everything Else
The U.S. Bank Cash+ Visa Signature Card has a three-tiered cash back program with unlimited earning potential.
The headline here is the top tier, which pays 5% cash back on purchases in two categories of your choice, up to $2,000 in combined category spending per quarter. The second tier pays unlimited 2% cash back on eligible purchases made in an additional category of your choice. Categories tend to have broad appeal: gas stations, restaurants, drugstores, and so on. However, you must activate your categories in advance of each quarter; otherwise, you’ll earn the card’s baseline 1% cash back (unlimited) on all purchases.
Redeeming earned cash back is easy with Cash+. There’s no minimum to redeem for credit card statement credits (the most seamless option) or deposits to an eligible bank account. You can also redeem for reward cards (gift cards) in $5 increments, starting at $20. A word of warning: you must redeem cash back within 36 months of earning it, or it’s gone forever.
Additional benefits of Cash+ include an easy-to-attain sign-up bonus worth $150 on $500 in eligible purchases within the first 3 months, and a 0% APR promotion on balance transfers for the first 12 months. As long as you can tailor your spending to Cash+’s categories, it’s tough to imagine why you wouldn’t want this card in your wallet.
See our U.S. Bank Cash+ Visa Signature Card Review for more information. Find out how you can apply for this card here.
11. Chase Freedom®
5% Cash Back in Rotating Categories Every Quarter; 1% on Everything Else
All purchases made with the Chase Freedom card earn 1% cash back, with no caps or restrictions, and purchases up to $1,500 in quarterly rotating categories earn 5% cash back. The categories are usually pretty broad and have wide appeal. For example, from April to June of 2018, purchases made at grocery stores (not including Target or Walmart) earned 5% cash back. Purchases made through Paypal or Chase Pay also receive 5% cash back. This is especially useful if you frequently shop on Ebay and make payment through Paypal.
Limited-time promotions occasionally push Freedom’s earning power even higher – for example, in the fourth quarter of 2015, purchases at Amazon, Zappos, Audible, and Diapers.com earned 10% cash back up to the $1,500 limit.
Chase Freedom accumulates Chase Ultimate Rewards points, a versatile spending currency that is worth $0.01 per point or more depending on redemption. Spending in the 1% cash back category earns 1 point per dollar, while spending in the 5% category earns 5 points per dollar. You can redeem for cash back (with each point being worth $0.01), deliverable as a statement credit, bank account deposit, or gift card at select retailers (including Amazon). There’s no minimum to redeem. You can also redeem for a wide variety of purchases, including travel and general merchandise, through Chase’s Ultimate Rewards portal.
One small drawback of Chase Freedom: You have to manually activate your 5% cash back each quarter. If you don’t do so by the middle of the last month of that quarter, you forfeit the 5% cash back opportunity.
See our Chase Freedom Review for more information. Find out how you can apply for this card here.
12. Blue Cash Everyday® Card from American Express
3% Cash Back at U.S. Supermarkets; 2% at U.S. Gas Stations and Select U.S. Department Stores; 1% Elsewhere; $150 Welcome Offer
The Blue Cash Everyday Card from American Express gives you ample cash back on everyday, hard-to-avoid purchases: food, staples, fuel, clothing, and home goods. You get 3% cash back on U.S. supermarket purchases, up to the $6,000 annual limit. After you hit the limit, you get 1% cash back on supermarket purchases, with no spending cap.
Meanwhile, this card’s 2% cash back rate at U.S. gas stations and select U.S. department stores is unlimited, as is 1% cash back everywhere else. Your cash back comes as a statement credit. Note that big box superstores such as Target, wholesale clubs like Sam’s Club, and alcohol retailers don’t count as “supermarkets,” according to American Express.
See our American Express Blue Cash Everyday Review for more information. Find out how you can apply for this cardhere.
13. Costco Anywhere Visa® Card by Citi
4% Cash Back on Gas Purchases at Costco Locations and Qualifying Gas Stations; 3% Cash Back on Restaurant and Eligible Travel Purchases; 2% Cash Back at Costco; 1% Cash Back Everywhere Else
The Costco Anywhere Visa Card by Citi is premium cash back product exclusive to Costco members. If you’re already spending $60 per year (or $120, if you’re springing for the Executive membership) on a Costco membership, and you’re able to meet Citi’s stringent underwriting requirements, this card is a no-brainer.
Why? For folks with long commutes, healthy travel and dining-out budgets, and long Costco shopping lists, the four-tiered cash back program is among the most generous around. Yes, the redemption framework is a little wonky – you have to redeem in person at Costco, and you have just one annual shot to do so. But most Costco members shop often enough that this isn’t a massive inconvenience.
See our Costco Anywhere Visa® Card by Citi Review for more information. Find out how you can apply for this card here.
Final Word
Even the most generous cash back credit cards rarely offer more than 5% cash back on any purchases. Cards that offer more than 2% or 3% cash back typically require holders to keep track of specific spending categories or respect purchase limits.
By contrast, cash back credit card APRs usually range from somewhere north of 10% to more than 20% in some cases. At those rates, carrying a balance for even a single month can seriously eat into your cash back earnings. Habitually carrying a balance from month to month more than negates your cash back earnings, adding to the actual cost of your purchases.
In other words, don’t let the promise of cash back lull you into letting your card balances grow over time. It’s almost never worth it. If you need to carry a credit card balance from month to month, opt for a low APR credit card instead. And if you worry about your ability to keep your credit card spending to a level that allows for in-full payments each month, choose a credit card with a low spending limit, or a secured credit card that requires you to make an upfront cash deposit.
What’s your favorite cash back credit card?
Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author's alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.
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