It’s no secret that I love credit cards that offer great travel rewards. However, I completely understand that it’s not the benefit everyone is looking for. That’s why I put together this list of my favorite cash back credit cards whose offers are currently available to everyone.
Cash back credit cards are simple and straightforward. You typically get a flat rate of cash back and sometimes there are bonus categories to help you accelerate your rewards. While you won’t get the out sized value from these cards that you can get with a travel rewards card, they do reward you for the purchases you make anyway.
I generally don’t like cash back credit cards that charge an annual fee because you earn at a flat rate. Some cards offer bonus categories that reward you at a higher rate for those purchases. Take a look at where you spend the most money each month and choose the card that provides you with the most value.
Chase Freedom Unlimited
Bonus – For a limited time, new card holders will receive a $200 cash bonus after you spend $500 within 3 months of opening your account. These points are paid as 20,000 Chase Ultimate Rewards points which can then be redeemed for $200 in cash. Plus, you can also earn up to 5% cash back on grocery store purchases (excluding Target & Walmart purchases) on the first $12,000 spent during the first year!
Highlights – You will earn 5x points on all travel purchased through Chase Ultimate Rewards. Plus, you’ll earn 3x on all dining and drugstore purchases. Finally, you can earn an unlimited 1.5% cash back on all of your purchases. I also love that you can transfer the points you earn with this card to one of Chase’s premium credit cards to get more value out of them.
I have this card and use a strategy called the Chase Trifecta to maximize the number of points I earn. This card also gives various purchase protections on items you buy with this card which I think are an excellent perk.
Annual Fee – $0
Chase Freedom Flex
Chase just launched the Freedom Flex card and will essentially replace the old Freedom card. While the two cards are similar, there are some excellent additions to the new card.
Bonus – For a limited time, new card holders will earn a $200 dollar bonus (20,000 Ultimate Rewards points) after spending $500 within the first 3 months of opening your account. You can also earn up to 5% cash back on grocery store purchases (excluding Target & Walmart purchases) on the first $12,000 spent during the first year!
Highlights – You will earn 5x points on all travel purchased through Chase Ultimate Rewards. Plus, you’ll earn 3x on all dining and drugstore purchases. The card also comes with quarterly bonus categories that earn 5x points (on the first $1,500 in spend) on purchases made in those categories. Finally, you’ll earn an unlimited 1% cash back on all other eligible purchases you make with the card.
Annual Fee – $0
U.S. Bank Cash+ Visa
Bonus – New Cash+ Visa card holders will receive a $150 cash bonus after you spend $500 within 3 months of opening your account.
Highlights – Each quarter, this card allows you to choose your own bonus categories. You’ll earn 5% cash back on the first $2,000 of purchases in your selected categories. You’ll also earn 2% cash back on an “everyday” category that you choose each quarter. Some of these “everyday” categories include gas and groceries. You will earn an unlimited 1% cash back on all other purchases.
Annual Fee – $0
Capital One® Quicksilver® Cash Reward Card
Bonus – New Quicksilver Cash card holders will receive a $150 cash bonus after you spend $500 within 3 months of opening an account.
Highlights – This card is easy and straightforward. It offers an unlimited 1.5% cash back on all qualifying purchases. The card also doesn’t charge any foreign transaction fees on purchases made outside of the U.S.
Annual Fee – $0
Capital One® Savor® Cash Reward Card
Bonus – New Savor card holders will receive a $300 cash bonus after you spend $3,000 within the first 3 months of opening an account.
Highlights – With the Savor card you will earn an unlimited 4% cash back on entertainment and dining purchases you make. You’ll earn 2% on purchases at grocery stores and an unlimited 1% cash back on all other purchases. The annual fee is waived the first year so it gives you 12 months to test drive the card. If you spend a lot in the bonus categories, this could easily offset the annual fee.
Annual Fee – $0 intro offer during the first year and then $95 each year after that.
Blue Cash Preferred Card from American Express
Bonus – New Blue Cash card holders will receive a $250 cash bonus after spending $1,000 within the first 3 months of their account being opened.
Highlights – With the Blue Cash Preferred credit card you will earn an 6% cash back on the first $6,000 spent at U.S. supermarkets and some U.S. streaming services each year. You’ll also earn 3% cash back on purchases at U.S. gas stations, rideshare companies and other transit categories. You’ll also earned an unlimited 1% cash back on all other purchases. This card charges an annual fee from the start. Be sure to review your spending in the bonus categories, to make sure the bonus earnings will offset the annual fee.
Annual Fee – $95
Final Thoughts
Cash back credit cards are a great way to dip your toes into the world of reward credit cards. They’re simple to understand and can be a great option for your first rewards card. If you’re still not sure which of the cash back credit cards is best for you, you can contact us at any time and we would be happy to help.
Though once you get comfortable with one of these cards, you really need to check out some of the awesome travel cards currently available. If you’re new to the world of credit card rewards, take a look at our Beginner’s Guide as well our Ground Rules before you get started. These will provide you with all of the information you need before you get started.
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