As credit cards continue to become more popular, many consumers are looking for ways to maximize their rewards and get the most out of their spending. One way to do this is by using a cashback credit card. Cashback credit cards offer rewards in the form of cashback for every purchase made with the card. In this article, we will explore the best cashback credit cards currently available in the market.
Best Cash Back Credit Cards
Citi® Double Cash Card
The Citi® Double Cash Card is widely regarded as one of the best cashback credit cards on the market. This card offers 2% cashback on all purchases – 1% cashback when you make a purchase and another 1% cashback when you pay off your balance. Additionally, the card has no annual fee and offers a 0% introductory APR for 18 months on balance transfers.
One of the standout features of the Citi® Double Cash Card is its simplicity. There are no rotating categories or complex redemption rules to navigate. Cardholders can earn cashback on all purchases and can redeem their rewards for a statement credit, direct deposit, or check.
Chase Freedom Unlimited®
The Chase Freedom Unlimited® is another popular cashback credit card that offers generous rewards and a variety of benefits. This card offers 1.5% cashback on all purchases, with no limits or restrictions on how much cashback you can earn. Additionally, new cardholders can earn a $200 cashback bonus after spending $500 on purchases within the first 3 months of account opening.
One of the unique features of the Chase Freedom Unlimited® is its partnership with the Chase Ultimate Rewards program. Cardholders can redeem their cashback rewards for travel, gift cards, and merchandise through the Ultimate Rewards portal. This adds an extra layer of flexibility and value to the card’s rewards program.
Blue Cash Preferred® Card from American Express
The Blue Cash Preferred® Card from American Express is a great option for consumers who spend a lot on groceries and gas. This card offers 6% cashback on purchases at U.S. supermarkets (up to $6,000 per year), 6% cashback on select U.S. streaming services, 3% cashback on purchases at U.S. gas stations and transit, and 1% cashback on all other purchases.
While the card does come with a $95 annual fee, the cashback rewards can quickly offset this cost for consumers who spend a lot in the bonus categories. Additionally, new cardholders can earn a $300 statement credit after spending $3,000 on purchases within the first 6 months of account opening.
Capital One® Savor® Cash Rewards Credit Card
The Capital One® Savor® Cash Rewards Credit Card is designed for consumers who enjoy dining out and entertainment. This card offers 4% cashback on dining and entertainment purchases, 2% cashback at grocery stores, and 1% cashback on all other purchases. Additionally, new cardholders can earn a $300 cashback bonus after spending $3,000 on purchases within the first 3 months of account opening.
One of the standout features of the Capital One® Savor® Cash Rewards Credit Card is its Visa Signature benefits. Cardholders can enjoy perks such as exclusive access to dining experiences, entertainment events, and travel upgrades. These benefits add extra value to the card’s rewards program and can enhance the overall cardholder experience.
Discover it® Cash Back
The Discover it® Cash Back is a popular cashback credit card that offers a rotating bonus category each quarter. Cardholders can earn 5% cashback on up to $1,500 in purchases in the bonus category, as well as 1% cashback on all other purchases. Additionally, the card offers a unique feature called Cashback Match, where Discover will match all the cashback earned at the end of the first year for new cardholders.
The rotating bonus categories include popular spending categories such as gas stations, grocery stores, restaurants, and Amazon.com. Cardholders can activate the bonus categories each quarter and earn 5% cashback on up to $1,500 in purchases. The card also offers a 0% introductory APR on purchases and balance transfers for the first 14 months.
One of the other benefits of the Discover it® Cash Back card is its free FICO credit score monitoring service. Cardholders can monitor their credit score and track their progress over time. This can help consumers make better financial decisions and improve their overall credit health.
Also read: How To Increase Your Credit Score?
Conclusion
Cashback credit cards can be a great way for consumers to earn rewards on their everyday purchases. The top 5 cashback credit cards discussed in this article offer generous rewards and benefits, and each card is designed to cater to specific spending habits and preferences.
Consumers should carefully consider their spending habits and needs when choosing a cashback credit card, and choose the card that offers the most value for their individual situation. With responsible use, a cashback credit card can help consumers earn rewards and improve their financial well-being.