Whether you want to earn rewards on your everyday purchases or build your credit, a cashback credit card can be a great option. Not only do you get to earn cashback on your spending, but you also get to enjoy other perks such as sign-up bonuses, low-interest rates, and no annual fees. But with so many options, how do you know which card is right for you? Here are the best cashback cards for everyone new to the credit card rewards game.
Chase Freedom Unlimited
One of the unique benefits of the Chase Freedom Unlimited card is its 0% introductory APR for the first 15 months on purchases and balance transfers. This can be a great way to save money on interest if you need to make a large purchase or transfer a balance from another card.
Another perk of the Chase Freedom Unlimited card is its partnership with the Chase Ultimate Rewards program. Cardholders can redeem cashback rewards for statement credits, direct deposits, or gift cards. They can also transfer their rewards to other Chase Ultimate Rewards cards, leading to even more redemption options.
Capital One Quicksilver Cash Rewards Credit Card
The Capital One Quicksilver Cash Rewards Credit Card is another excellent choice for those who want a straightforward cashback credit card. Like Chase Freedom Unlimited, this card offers 1.5% cash back on all purchases, with no spending categories to worry about. Their intro offer is also similar. The card has a sign-up bonus of $200 after spending $500 in the first three months of opening the account.
One unique feature of the Capital One Quicksilver Cash Rewards Credit Card is its lack of foreign transaction fees. This makes it an excellent choice for those who frequently travel internationally and want to earn cashback rewards while doing so.
The Capital One Quicksilver Cash Rewards Credit Card also offers a 0% introductory APR for the first 15 months on purchases and balance transfers. Great to consider for an upcoming large expense.
Citi Double Cash Card
The Citi Double Cash Card is a popular choice for those who always pay their balance in full each month. It is slightly different from other reward cards. This card offers 1% cash back on all purchases and an additional 1% when you pay your bill. It doesn’t have an intro offer like the others, but with an extra .5% cashback, it more than pays for the intro promos other cards offer.
The Citi Double Cash Card has no annual fee and offers a 0% introductory APR for the first 18 months on balance transfers.
One unique feature of the Citi Double Cash Card is its Price Rewind program. This program will search for lower prices on items you purchase with the card and refund the difference if a lower price is found within 60 days of purchase.
Blue Cash Everyday Card and Blue Cash Preferred from American Express
The Blue Cash Everyday Card is the no-annual fee option from American Express that offers 3% cash back on purchases made at U.S. supermarkets (up to $6,000 per year), 2% cash back on purchases made at U.S. gas stations and select U.S. department stores, and 1% cash back on all other purchases.
For an annual fee of $95, which is free for the first year, you can upgrade to the Blue Cash Preferred, which doubles the rewards at U.S. supermarkets to 6% and also rewards 6% on select U.S. streaming services. You also get 3% at gas stations and 3% on transit like buses, parking, metro, and tolls. And you still get 1% cash back on all other purchases.
These cards come with several other benefits, including purchase protection, extended warranty coverage, and access to Amex Offers, which provide cardholders with exclusive discounts and savings on various products and services.
Discover it Cash Back
The Discover it Cash Back card offers 5% cash back on rotating categories each quarter (up to $1,500 in purchases per quarter) and 1% cash back on all other purchases. The rotating categories can range from gas stations and grocery stores to Amazon.com and restaurants.
One of the standout features of Discover’s It Cash Back card is its Cash Back matching program. At the end of your first year of card membership, Discover will match all the rewards you have earned. This means that if you earn $200 in cashback rewards over the 1st year, Discover will give you an additional $200 at the end of the year.
The Discover it Cash Back card also has many other benefits, including free access to your FICO credit score, no foreign transaction fees, and 0% introductory APR on purchases and balance transfers for the first 14 months of card membership.
Wells Fargo Active Cash Card
The Wells Fargo Active Cash Card is a great option that offers unlimited 2% cash back on purchases made with the card, with no annual fee or category restrictions. This reward percentage is similar to Citi’s Double Cash card, but you get 2% on purchases made. Unlike the Citi card, this comes with a sign-up bonus similar to Chase Freedom Unlimited and CapitalOne Quicksilver.
New cardholders earn a $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months of card membership. This bonus can be a great way to jumpstart your cashback rewards earnings.
Bank of America Cash Rewards Credit Card
The Bank of America Cash Rewards Credit Card is a great option if you are looking for a cashback credit card with flexible rewards categories.
This card offers 3% cash back on a category of your choice (gas, online shopping, dining, travel, drug stores, or home improvement/furnishings), 2% cash back at grocery stores and wholesale clubs, and 1% cash back on all other purchases. This may seem like the others, but Bank of America does it slightly differently by focusing on rewarding loyal customers through its Preferred Rewards program.
If you are a Bank of America customer and have a qualifying account, you can earn additional cashback rewards on your purchases, increasing those cashback rewards from 25% to 75%. For example, if you have a Bank of America checking or savings account, you can earn an additional 10% cash back on your purchases.
The Bank of America Cash Rewards Credit Card also has several other benefits, including purchase protection and extended warranty coverage access to BankAmeriDeals, providing cardholders exclusive discounts and savings on various products and services.
Final Thoughts
Cashback credit cards can be a great way to earn rewards on your purchases and save money. When selecting the best cashback credit card for you, it’s important to consider the rewards program, annual fee, interest rates, and other features.
Remember, each card has its unique benefits and rewards program, so choose the one that best fits your needs and spending habits. With the right cashback credit card, you can earn rewards and save money on everyday purchases.