What Are the Best Cash Back Credit Cards?

Cash back credit cards are a popular option for consumers who want to earn rewards on their everyday purchases. With so many options available, it can be overwhelming to choose the best one. In this article, we will explore the top cash back credit cards on the market and what makes them stand out.

1. Chase Freedom Flex℠

The Chase Freedom Flex℠ is a versatile cash back credit card that offers 5% cash back on rotating categories, such as gas stations, grocery stores, and restaurants, up to $1,500 per quarter. It also offers 1% cash back on all other purchases. Additionally, new cardholders can earn a $200 bonus after spending $500 in the first three months. The card has no annual fee and comes with a range of benefits, including purchase protection and extended warranty coverage.

2. Blue Cash Preferred® Card from American Express

The Blue Cash Preferred® Card from American Express is an excellent option for those who spend a lot on groceries and gas. It offers 6% cash back at U.S. supermarkets, up to $6,000 per year, and 6% cash back on select U.S. streaming subscriptions. It also offers 3% cash back on transit and at U.S. gas stations, as well as 1% cash back on all other purchases. New cardholders can earn a $300 statement credit after spending $3,000 in the first six months. The card does have an annual fee of $95, but the rewards can easily offset this cost.

3. Citi® Double Cash Card

The Citi® Double Cash Card is a straightforward cash back credit card that offers 2% cash back on all purchases, with no limits or rotating categories. Cardholders earn 1% cash back on purchases and an additional 1% cash back when they pay their balance off. The card also has no annual fee and comes with a range of benefits, including purchase protection and access to Citi Entertainment.

4. Discover it® Cash Back

The Discover it® Cash Back is a popular cash back credit card that offers 5% cash back on rotating categories, up to $1,500 per quarter, and 1% cash back on all other purchases. New cardholders can earn a dollar-for-dollar match of all the cash back they've earned at the end of their first year. The card has no annual fee and comes with a range of benefits, including access to your FICO® credit score and no foreign transaction fees.

Tips for applying for a cash back credit card

When applying for a cash back credit card, it's important to consider your spending habits and the card's rewards structure. Look for a card that offers cash back on the categories you spend the most on, whether that's groceries, gas, or something else. Additionally, make sure to read the fine print and understand any fees or restrictions associated with the card.

To maximize your cash back rewards, consider using your credit card for all of your everyday purchases, but make sure to pay off your balance in full each month to avoid interest charges. Additionally, look for opportunities to earn additional cash back through bonus categories or sign-up bonuses.

It's also important to keep in mind any annual fees associated with the card. While some cards may have higher annual fees, the rewards may be worth it if you spend enough in the bonus categories. Finally, be aware of any potential risks associated with using a credit card, such as overspending or carrying a balance and accruing interest charges.

In conclusion, cash back credit cards can be an excellent way to earn rewards on your everyday purchases. By considering your spending habits and choosing a card that offers rewards on the categories you spend the most on, you can maximize your cash back rewards and enjoy the benefits of using a credit card.