Comparing Cash Back Credit Card Offers
Using a credit card to earn money back can be a great way to maximize your purchases on credit cards. With hundreds of options out there, how do you narrow down the choices. We’ll look at some of the perks that different cards offer and suggest some cards, based on data available at time of publication, that might be perfect for you. You can have money in the bank with one of these cards.
Cash Back Credit Card Offers
As you start your cash back credit card search, here are four factors you need to consider.
Earning Rates – each card has different earning rates. Some maximize certain purchases, other have a revolving focus. You may get extra points for shopping at specific stores. Ask these questions:
- How much cash back will you earn? You’ll find 2% cash back credit cards with careful searching
- What type of purchases are rewarded or restricted?
- Do the covered purchases match your spending habits?
- Are the cards tiered (the more you spend, the more cash back you get)?
Redemption – this asks how you get the rewards back. Make sure you read the fine print. Ask:
- Are the rewards automatically deducted from your statement?
- Do you need to request the rewards?
- Do the rewards translate to miles or travel perks?
- Can you transfer your rewards?
Other Perks: Cards may offer some amazing perks, so factor these into your decision. Some common perks include:
- Auto rental collision damage waiver
- Trip cancellation/interruption/baggage delay insurance
- Zero liability protection for unauthorized charges
- Chip-enabled security
- Travel and emergency assistance
- Purchase protection for 120 days against damage or theft
- Extended warranty protection
Annual Fees: Some credit card companies charge fees for the privilege of using the card. These can range from $25 to over $500. Depending on your spending habits, you may be able to recoup these fees with points, but if you can’t pay off your credit card each month, lower or $0 annual fees are a better bet. If you intend to do a lot of foreign travel, check the foreign transaction fees – these are generally 3% on transactions.
- Annual fees
- Foreign transaction fees
We’ve compiled some of the top cards for 2018 and 2019. Remember that these rewards are subject to change, so double check before signing up and read all the fine print!
|Card||Bonus||Flat Cash Back||Annual Fee|
|Capital One Savor Cash Rewards||4% on dining and entertainment2% at grocery stores1% all other purchasesone-time $500 cash bonus after spending $3000 in the first 3 monthsNo foreign transaction fees access to premium experiences in dining, entertainment and more||1%||$95 (waived first year)|
|Discover it® Cash Back||5% cash back up to $1,500 in purchases in rotating categories each quarter upon enrollment1% after $1500 totalWill match cash-back for first yearRedeem cash back any timeIntro APR||1%||$0|
|Blue Cash Preferred from American Express||$200 statement credit after $1000 spent within first 3 months6% cash back on purchases at US supermarkets up to $6,000 each year, then 1% 3% cash back at US gas stations1% all other purchasesRedeemable as statement credit, gift cards, merchandise||1%||$95|
|Chase Freedom||0% ARP for 15 months$150 bonus after spending $500 in first 3 months5% cashback on up to $1,500 in purchases in rotating categories each quarter1% on all other purchases||1%||$0|
|U.S. Bank Cash+ Visa Signature||$150 after you spend $500 in eligible net purchases in the first 90 days of account opening5% on first $2,000 in purchases each quarter in choice of two categories choose 2% on your choice of gas stations, grocery stores or restaurants1% all other purchases0% intro APR for 12 cycles||1%||$0|
|Uber Visa||4x points on dining3% cash back credit card on hotels and airfare2% on online purchases 1% all other purchasesUp to $600 for mobile phone damage or theft when you pay mobile phone bill with cardStream all day with a $50 subscription credit after you spend $5,000 per year.Exclusive access to exclusive events No foreign transaction fees Redeem points for Uber credits, gift cards, or cash back||1%||$0|
|Chase Freedom Unlimited||1.5% on all purchases0% Intro APR for 15 months $150 Bonus after spending $500 on purchases in first 3 months No minimum to redeem||1.5%||$0|
|Bank of America Cash Rewards||3% on gas and 2% at grocery stores and wholesale clubs for the first $2,500 in combined purchases each quarter 1% cash back on every purchase$200 online cash rewards bonus after spending $500 in the first 90 days 0% Introductory APR for 12 billing cycles 10% customer bonus every time cash back is redeemed into a Bank of America checking or savings account||1%||$0|
|Bank of America Premium Rewards||2x points on travel and dining 50,000 bonus points after spending $3,000 in the first 90 days Unlimited 1.5 points on all other purchasesFlexibility to redeem for a statement credit, deposit into eligible Bank of America® or Merrill Lynch® accounts or use at the Bank of America Travel CenterUp to $200 in airline incidental and airport expedited screening statement credits + valuable travel insurance protectionsNo Foreign Transaction Fees||1.5%||$95|
|Citi Double Cash Card||2% on all purchases (1% when you make purchases, 1% when you pay your bill) – the Citi double cash bonus0% Intro APR on Balance Transfers for 18 months||2%||$0|
These cards have some great perks. Just make sure that you read the fine point and pay off your credit card each month so that your rewards are not frittered away on interest charges!