Best Cash Back Credit Cards

id=»article-body» class=»row» section=»article-body»> Among the dizzying array of rewards credit cards, cash-back credit cards stand out for their simplicity. The rewards you generate for making purchases on a cash-back credit card don’t need to be converted, transferred or strategically redeemed to maximize value. You just get cash deposited into an account or a statement credit on your monthly bill.  The upside of these cards is less hassle and effort. The downside is your net reward rate will usually be slightly lower than if you were to sign up for a credit card with a complex earning and redemption process, such as you get with mileage cards.  Hassle-free, cash-back rewards usually get automatically applied to your balance after one or two billing cycles and — depending on your spending — can put a lot of money back in your wallet.

Most consumers can earn anywhere from 2% to 4% overall using one of the best cards. So, if you spend $15,000 annually, that would translate to between $300 and $600 a year of cash-back rewards. To figure out which cash rewards credit card or cards make sense for you, I’ve chosen eight high-value options from the crowded market. Some are no-fee, flat-rate credit cards that earn the same amount on all purchases. Some are limited to specific spending categories (e.g. groceries, dining, gas, transit or travel) but have a higher rewards rate, while others charge an annual fee.

I’ve organized the list by group, Bandarqq starting with the most straightforward cluster and ending with the most complicated. To approximate the value of each card for an individual and assess which spending situations make sense for each, I leveraged data from the Bureau of Labor Statistics’ Consumer Expenditure Survey.   Best cash back credit cards Card Best for Reward rates* New member bonus Chase Freedom Unlimited Best flat-rate card with bonus Unlimited 1.5% cash back on every purchase $200 Citi Double Cash Best flat-rate card for higher spenders Unlimited 2% on every purchase $0 Wells Fargo Propel American Express Best no-fee category card Unlimited 3% cash back on dining, travel, transit and streaming $200 Bank of America Cash Rewards Best quarterly rewards card / best for online shopping 3% cash back in choice category (gas, dining, travel, online) and 2% back on groceries up to $2,500 per quarter $200 Amazon Prime Rewards Best for Amazon and Whole Foods shoppers 5% on Amazon, Whole Foods; 2% at restaurants, gas stations, drugstores $70 Amazon gift card Apple Card Best for regular Apple shoppers, instant rewards and privacy 3% on Apple, Uber and Walgreens purchases, 2% on Apple Pay purchases $0 CapitalOne Savor Best for dining and entertainment Unlimited 4% cash back on dining and entertainment, 2% at grocery stores $300 Blue Cash Preferred from American Express Best for big grocery bills 6% cash back on groceries up to $6,000 per year.

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