Best Cards Summary
Chase Freedom Unlimited®
Why this is one of the best cash back credit cards: Chase Freedom Unlimited charges no annual fee. It earns 5% cash back on travel purchased through Chase Ultimate Rewards, 3% cash back on dining and drugstore purchases and 1.5% cash back on all other purchases. If you get this card and spend $500 within three months of opening it, you can earn a $200 bonus. See our full review.
Discover it® Cash Back
Why this is one of the best cash back credit cards: The Discover it Cash Back offers 5% cash back each quarter in rotating categories, such as Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate. All other purchases earn unlimited 1% cash back. There is no annual fee. At the end of your first year as a cardmember, Discover will match all the cash back you earned. See our full review.
Bank of America® Customized Cash Rewards credit card
Why this is one of the best cash back credit cards: The Bank of America Customized Cash Rewards card lets you pick one category to earn 3% cash back, including online
shopping or gas. Grocery store and wholesale club purchases get 2% back. You’ll also receive a $200 cash rewards bonus after spending $1,000 on the card in the first three months. See our full review.
Chase Freedom Flex℠
Why this is one of the best cash back credit cards: Chase Freedom Flex delivers 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. You’ll also earn 5% back on travel purchased through Chase, 3% back at drugstores and restaurants, including takeout and delivery, and 1% back on other purchases year-round. See our full review.
Chase Sapphire Preferred® Card
Why this is one of the best cash back credit cards: The Chase Sapphire Preferred Card is appealing for cash back on dining and traveling. Those purchases earn two points per dollar, while other purchases earn one point per dollar. You can redeem points for cash back, travel, gift cards and more. See our full review.
Blue Cash Everyday® Card from American Express
Why this is one of the best cash back credit cards: The Blue Cash Everyday Card from American Express rewards you with cash back on day-to-day purchases. You’ll earn 3% cash back at U.S. supermarkets on up to the first $6,000 per year in purchases, then 1% back. Purchases at U.S. gas stations and select U.S. department stores earn unlimited 2% cash back. Plus, you’ll get unlimited 1% back on other purchases with no annual fee. Cardholders receive a 20% statement credit back on Amazon.com purchases on the Card in the first 6 months of Card membership, up to $150 back. Plus, you’ll earn $100 back after you make $2,000 in purchases on your card within the first six months. See our full review.
Blue Cash Preferred® Card from American Express
Why this is one of the best cash back credit cards: The Blue Cash Preferred Card from American Express offers cash back on everyday purchases. Cardholders earn 6% cash back at U.S. supermarkets on up to $6,000 per year in purchases and then 1% back. Select U.S. streaming subscriptions earn 6% cash back; transit and U.S. gas stations earn 3% cash back; and other purchases earn 1% cash back. See our full review.
Discover it® chrome
Why this is one of the best cash back credit cards: This card caters to consumers who want to earn cash back on gas and dining purchases. You’ll earn 2% cash back at gas stations and restaurants on up to the first $1,000 in combined purchases quarterly. After that, you’ll earn 1% back, along with unlimited 1% cash back on all other purchases. There’s no annual fee and rewards never expire. See our full review.
Chase Sapphire Reserve®
Why this is one of the best cash back credit cards: The Chase Sapphire Reserve card offers a 60,000-point sign-up bonus worth $900 in travel rewards after you spend $4,000 on purchases in the first three months from account opening. You earn three points per dollar spent on travel and dining. Redeem points for travel through Chase Ultimate Rewards to receive a 50% points bonus. See our full review.
U.S. Bank Cash+™ Visa Signature® Card
Why this is one of the best cash back credit cards: The U.S. Bank Cash+ Visa Signature Card has no annual fee and offers cardholders a three-tiered cash back rewards program. You’ll earn 5% cash back on the first $2,000 in combined eligible net purchases each quarter in two categories of your choice and 2% cash back on your choice of one everyday category. All other eligible net purchases earn 1% cash back. When you make $500 in eligible purchases within 90 days of opening an account, you’ll earn $200. See our full review.
U.S. News Survey: As You Earn Cash Back, Beware Card Costs
Cash back rewards can help some consumers save money on their credit card purchases, but others end up with more debt, according to a U.S. News survey. Although about half of cardholders said they earn at least $300 annually in cash back rewards, more than half also carry a card balance. The interest charges on a balance can easily wipe out the value of rewards.
Cash back cards with rewards for everyday spending are the most popular choice in the cash back credit card category.
Cash back rewards rate is the top factor for consumers selecting a cash back credit card.
Grocery and gas purchases earn cash back card users the most rewards.
About half of cash back card users earn at least $300 in rewards each year.
Card costs are a negative for cash back cardholders.
- U.S. News ran a nationwide survey through Google Surveys in December 2019.
- The survey sample came from the general American population, and the survey was configured to be representative of this sample.
- The survey asked 10 questions related to cash back credit cards.