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What’s better than cold, hard cash? If you want to earn rewards without much effort, skip the points and miles game and opt for a cash back card.
The best cash back credit cards offer high rewards on spending categories like groceries, gas, and dining out. These cash back earnings can add up without you having to overthink bonus categories or strategic redemptions. Plus, most don’t have annual fees to worry about.
Whether you want a straightforward cash back card or one with rotating bonus categories, we’ve got options for you. Here are our picks for the best 6 cash back credit cards.
The best cash back credit cards
- Citi® Double Cash Card: Best for unlimited flat-rate cash back
- Chase Freedom Unlimited®: Best for flexible redemption options
- Discover it® Cash Back: Best for rotating category bonuses
- Bank of America® Customized Cash Rewards credit card: Best customized cash back
- Capital One SavorOne Cash Rewards Credit Card: Best for dining and entertainment
- Blue Cash Preferred® Card from American Express: Best for groceries
Citi® Double Cash Card: Best for unlimited flat-rate cash back
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The Citi® Double Cash Card offers an innovative way to boost responsible credit card use.
With this flat-rate cash back card, you’ll earn 2% cash back on all eligible purchases — so no need to track bonus categories or spending limits. You’ll earn 1% at the time of purchase and 1% when you pay for those purchases.
So to receive the entire 2% cash back, you need to pay off your purchases.
This card comes with 5% back on hotels, car rentals, and attractions booked through Citi Travel through Dec. 31, 2024. You’ll also get an introductory 0% APR for 18 months on balance transfers made in the first four months of opening the card.
Chase Freedom Unlimited®: Best for flexible redemption options
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The Chase Freedom Unlimited® card is a straightforward cash back credit card that earns 1.5% back on every purchase. Plus, you’ll earn 5% back on Lyft purchases (through March 2025) and travel booked through Chase Ultimate Rewards. On top of that, you’ll get 3% back on dining and drugstore purchases.
This card also offers 0% APR for the first 15 months on new purchases and balance transfers made during the first 60 days. This can save you money on interest if you have existing balances to consolidate or significant expenses to pay over time.
Unlike other cash back credit cards, the Freedom Unlimited offers flexible redemption options. You can redeem cash back as a statement credit or direct deposit, but you can use rewards for travel or with online retailers like Amazon.
Plus, if you have another card that earns Ultimate Rewards points, like the Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, or Ink Business Preferred® Credit Card, you can pool your rewards to maximize your redemptions.
Discover it® Cash Back: Best for rotating category bonuses
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The Discover it® Cash Back card offers a substantial cash back program with the unique feature of matching all the cash back you earn at the end of your first year.
With this card, you can earn 5% cash back on rotating categories each quarter. Categories in the past include drugstores, restaurants, gas stations, and grocery stores. You’ll earn 1% back for all other purchases.
The rotating categories help maximize quarterly spending but require activation each quarter. Plus, you can only earn 5% on up to $1,500 made each quarter, then 1%.
This card also has a 0% introductory APR offer on purchases and balance transfers for the first 15 months and no foreign transaction fees.
Redemption is more limited than other cards since there’s no travel redemption portal. But if you are looking for a no-fee cash back card, Discover it® is a competitive option.
Bank of America® Customized Cash Rewards credit card: Best customized cash back
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The Bank of America® Customized Cash Rewards card allows you to earn elevated cash back in your choice of spending category. The ability to select 3% cash back from six options makes it easy to maximize your biggest area of spending.
The elevated cash back rewards on grocery and wholesale club rewards also help offset everyday purchases.
Other perks include travel accident insurance, extended warranty protection, and savings opportunities with BankAmeriDeals.
This card does come with quarterly spending limits ($2,500) for elevated rewards categories. So, if you spend far above the limit, you may consider a card with unlimited cash back.
Capital One SavorOne Cash Rewards Credit Card: Best for dining and entertainment
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The Capital One SavorOne Cash Rewards Credit Card offers cash back designed for foodies and entertainment lovers alike.
You can earn 10% cash back on Uber and Uber Eats purchases (through Nov. 14, 2024), 8% cash back on Capital One Entertainment purchases, and 5% back on hotels and rental cars booked using Capital One Travel. You’ll also earn an unlimited 3% back on dining, entertainment, popular streaming subscriptions, grocery store purchases (excluding superstores like Walmart and Target), plus 1% back on all other purchases.
The elevated cash back on entertainment purchases and streaming subscriptions makes this card one of the best cards for streaming.
Unlike similar cards, there are no spending limits to worry about. Plus, there’s no annual fee and a solid 0% introductory APR offer if you want to transfer a balance or finance a large purchase.
Blue Cash Preferred® Card from American Express: Best for groceries
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The Blue Cash Preferred® Card fromAmerican Express is one of our top cash back picks and best cards for grocery shopping – it’s easy to see why.
This card has a higher-than-average cash back rate of 6% for purchases made at U.S. supermarkets and on select U.S. streaming subscriptions. Plus, you’ll get a solid 3% cash back on gas stations and other transit purchases.
Keep in mind that 6% back at U.S. supermarkets only applies to $6,000 in annual spending, then you’ll earn just 1%. If you think you’ll spend more than $500 monthly on groceries, or you do most of your shopping at superstores like Walmart, you may want to consider a different card.
While there is an annual fee after the first year, many of the card’s credits and rewards can offset the cost. See rates and fees.
What are cash back cards, and how do they work?
The most obvious benefit of a cash back credit card is that you’ll earn a percentage of your purchases back as cash rewards.
These cards have other advantages, including no annual fees, welcome bonuses, and introductory 0% APR offers. There are two main types of cash back cards:
- Flat-rate cards: If you want a no-fuss card or spend regularly in the same categories, this card is for you. Flat-rate cards offer a fixed rate on all your purchases.
- Tiered cards: This card offers higher cash-back on certain types of purchases. For example, you could earn 3% on groceries, 2% on gas, and 1% on everything else. You can maximize your cash back with one of these cards if your spending aligns with the bonus categories.
What is the highest cash back credit card?
The Blue Cash Preferred Card from American Express offers a market-leading 6% cash back in two key categories — U.S. supermarket spending (up to $6,000 annually, then 1%) and select U.S. streaming services. Most other cards max out at 5% cash back rewards in select rotating categories only.
Do all cash back cards have an annual fee?
While some premium cash back cards like the Blue Cash Preferred Card carry an annual fee, many options provide rewards without charging one.
Examples of popular no annual fee cash back cards include the Citi Double Cash, the Chase Freedom Flex, and the Wells Fargo Active Cash Card.
What credit score do you need for the best cash back cards?
Most top cash back card issuers look for good to excellent credit — around a 690 score or higher.
However, options like the Petal® 2 “Cash Back, No Fees” Visa Credit Card don’t require a credit score to apply, using different criteria to approve you or not. Those new to credit or rebuilding scores can qualify for secured cards and student cards.
Can you earn travel rewards with cash back cards?
Certain cash back cards allow flexible redemptions, enabling you to use earned rewards towards travel in addition to getting statement credits.
For example, the Chase Freedom Flex and Chase Freedom Unlimited let you redeem cash back for flights, hotels, and car rentals when you have an eligible Chase card like the Sapphire Preferred.
How much cash back can I realistically earn annually?
Most cash back cards offer around 2% back on all purchases. Assuming you pay your credit card off on time and in full each month — avoiding late fees and interest — you could expect to earn around $400 on $20,000 of annual spending.
If your card offers category bonuses or quarterly rotating deals, you may be able to earn even more. Just make sure bonus rewards align with your biggest expenses.
Review your monthly budget and spending habits makes selecting the optimal cash back rewards card much simpler. Don’t forget to consider welcome bonuses, redemption flexibility, and fees when looking around.
The bottom line
Deciding on the right cash back credit card depends on your purchases and the perks you want to access.
First, look at your budget to identify where you spend the most monthly. Then, look for a cash back card with high earning rates in those categories. Bonus points if that card doesn’t charge an annual fee.
Choosing a card that fits your purchases helps you optimize rewards on your everyday spending.
[Disclaimer]: *Eligibility and Benefit level varies by Card. Terms, Conditions, and Limitations Apply. Please visitamericanexpress.com/benefitsguide for more details. Underwritten by Amex Assurance Company
Opinions expressed are author’s alone, not those of any bank, credit card issuer, or other entity. This content has not been reviewed, approved, or otherwise endorsed by any of the entities included in the post.