What Are the Best Cash Back Credit Cards?

Cash back credit cards have become an increasingly popular option for consumers looking to get more out of their spending. With so many different options available, it can be difficult to determine which card is the best fit for your individual needs. In this article, we'll explore some of the bestcash back credit cardson the market, as well as provide some tips for making the most of your card and avoiding potential pitfalls.

Chase Freedom Unlimited

The Chase Freedom Unlimited card is a great option for those looking for a simple, straightforward cash back program. Cardholders earn 1.5% cash back on all purchases, with no caps or restrictions. Additionally, new cardholders can earn a $200 cash back bonus after spending $500 on purchases within the first three months of account opening.

Citi Double Cash

The Citi Double Cash card is another excellent choice for those looking for a no-frills cash back program. Cardholders earn 1% cash back on all purchases, plus an additional 1% cash back when they pay their bill on time. There are no limits on the amount of cash back you can earn, and the card has no annual fee.

Discover it Cash Back

The Discover it Cash Back card is a popular option due to its rotating bonus categories. Cardholders can earn 5% cash back on up to $1,500 in purchases in categories that change every quarter, such as gas stations, grocery stores, and restaurants. Additionally, cardholders earn 1% cash back on all other purchases. Discover also offers a unique bonus for new cardholders - at the end of their first year, the company will match all of the cash back they've earned.

American Express Blue Cash Preferred

The American Express Blue Cash Preferred card is a great choice for those who frequently spend on gas and groceries. Cardholders earn 6% cash back on up to $6,000 in purchases at U.S. supermarkets each year, as well as 3% cash back on purchases at U.S. gas stations and select U.S. department stores. All other purchases earn 1% cash back. The card does come with a $95 annual fee, but the rewards can easily outweigh this cost for those who frequently spend in the bonus categories.

Making the Most of Your Cash Back Card

No matter which cash back card you choose, there are some general tips that can help you maximize your rewards. First, make sure to pay off your balance in full each month to avoid interest charges. Additionally, consider pairing your cash back card with a card that offers bonus points in other categories, such as travel or dining. Finally, be sure to keep an eye out for any limitations or restrictions on your card's rewards program, such as caps on cash back earnings or expiration dates for rewards.

Avoiding Potential Pitfalls

While cash back credit cards can be a great way to earn rewards on your spending, there are some potential pitfalls to be aware of. First, be sure to read the fine print on your card's rewards program to understand any limitations or restrictions. Additionally, be careful not to overspend in order to earn more rewards - this can lead to carrying a balance and paying interest charges. Finally, be aware of any annual fees associated with your card and consider whether the rewards you'll earn will outweigh this cost.

Conclusion

Overall, cash back credit cards can be a great way to earn rewards on your everyday spending. By selecting the right card and following some general tips, you can make the most of your rewards program and avoid potential pitfalls. Whether you're looking for a straightforward cash back program or a card with bonus categories, there are a variety of options available to fit your individual needs.