The Best Cash-Back Rewards Credit Cards

Consumers with a high affinity of spending their hard earned cash can now afford a smile. This is because of the best cash back credit cards that have been picked by NerdWallet and Money.

The majority of Money and NerdWallet’s picks believe that you as their customer will utilize the credit card in a strategic manner so as to optimize your rewards and settle your bill on a monthly basis so as to avoid finance and fee charges. Money also went out of its way so as to come up with the cash reward credit cads with no annual fee for no fuss and no stress. We’ve compared some of these cash back credit cards and broken them down to the top 3! Honestly, is there a sweeter sound than 0% APR balance transfer cards and no card fees? Probably not.

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Source: CNBC

Easy Choice: Citi Double Cash Card 

1. APR: 0 APR balance and purchase transfer for the first 15 months, a 13%-23% after that and which is dictated by your creditworthiness.
2. The reward provided for using this credit facility is a 2% cashback on all the purchases made, and the offer is limitless.
3.  This is one of the cash back credit cards with no annual fee.

Why choose double cash?

This service guarantees you a no strings attached flat rate credit card. Instead, it refunds you 2% on your total purchases. This means hypothetically, if you spend $2,000 a month, after a period of two years you will have earned roughly $1,000. On top, you also get to enjoy a 15 month introductory waived late fee on the first missed payment and an APR. Double cash also ensures that you get credit scores from Equifax on your online account. However, the 2% is not given at once since you get 1% upon clearing the bill and 1% when you swipe.

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Source: Business Wire

Best for Online Shopping: Discover It

  • APR: 0 APR balance and purchase transfers for the first 12 months, and 11% – 23% after that and which is dictated by your creditworthiness.
  • No annual fee
  • Guaranteed 5% cash back on products that fall into categories that vary in price in each quarter whether on-line or off-line up to $1500 quarterly.
  • 1% cash back on all other purchases
  • And finally, purchases made via Discovers online portal are guaranteed extra cash back

Why Best for Online Shopping?

Discover’s online mall has managed to set itself apart from other competitors in the cash-back credit card facility. The Discover Deals portal also allows the cardholders to enjoy a 5% to 20% extra cash back from hundreds of retailers with the inclusion of popular ones such as Home Depot, Walmart, and the Apple Store.

Meanwhile, the revolving 5% rebate classes such as restaurants, gas stations, or individual retailers like apply to a limit of $1,500 spent per quarter (Any amounts above that in one-quarter qualifies you for a 1% cash back). Other features that make this credit facility attractive is the unlimited access to a year’s worth of FICO scores.  And also upon losing a card, a member is legible to freeze the card without tampering with his or her automatic payments.

However, compared to MasterCard and Visa, Discover is less accepted on the international platform.


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Source: WP Engine

Best for Maximizers: American Express Blue Cash 

  • APR: has 0% balance and purchases transfers for the first 15 months, and 11%-22% after that and which is dictated by your creditworthiness.
  • $75 annual fee
  • A sign–up bonus after spending at least $1,000 within 90 days: $150
  • A 6% cash back on $6000 spent on supermarkets on an annual basis after which the cashback reduces to 1%
  • In selected department stores and all gas stations, you get a 3% back
  • And 1% cash back in any other place of your choosing apart from the once mentioned

Why American Express Blue Cash?

It is the best among its peers in their cash back line of business. By spending $5,600 on groceries annually, you earn $336. $200 monthly expenditure on the gas pump also makes you $70 per year; this alone will be able to cover your yearly fee. The sign-up bonus is profitable and easy to obtain.

Caveat: Grocery perks are limited to supermarkets only; Costco and specialty food shops are not taken into consideration.

If you have good money management skills, you should make a point of utilizing the best cash-back rewards credit cards since they exhibit a sense of customer appreciation. Notably, you can also get a cash advance for your credit card to help you cover a big expense without a large hassle – essentially, you just need to put a cash deposit on your credit card in order! Apply for your credit card today!

Sourced from: Time

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Posted on May 22, 2023