| American Express Blue Cash Preferred Card | Chase Freedom Flex | Chase Freedom Unlimited | Capital One Quicksilver | Capital One QuicksilverOne | Capital One SavorOne Rewards | Bank of America Customized Cash Rewards Credit Card | |
|---|---|---|---|---|---|---|---|
| Our pick for | Best overall | No annual fee | Flat-rate cash back | Unlimited cash back | Fair credit | Dining and restaurants | Large deposit balances |
| Minimum credit score | Good to excellent | Good to excellent | Good to excellent | Excellent | Fair | Excellent | Good to excellent |
| Highest cash-back rate | 6% on up to $6,000 spent at U.S. supermarkets; 6% on select U.S. streaming services | 5% on the first $1,500 spent in quarterly bonus categories; 5% on travel purchased through Chase Ultimate Rewards | 5% on travel purchased through Chase Ultimate Rewards | 5% on hotels and rental cars booked through Capital One Travel | 5% on hotels and rental cars booked through Capital One Travel | 10% on Uber and Uber Eats purchases through November 14, 2024 | Up to 5.25% in a purchase category of your choice (restrictions apply) |
| Intro APR offer | 0% intro APR on purchases and balance transfers for 12 months | 0% intro APR on purchases and balance transfers for 15 months | 0% intro APR on purchases and balance transfers for 15 months | 0% intro APR on purchases and balance transfers for 15 months | None | 0% intro APR on purchases and balance transfers for 15 months | 0% intro APR on purchases and balance transfers for 18 billing cycles |
| Annual fee | $95 (waived for the first year) | $0 | $0 | $0 | $39 | $0 | $0 |
Our top 7 picks for cash-back credit cards
- Our pick for best overall: American Express Blue Cash Preferred Card
- Our pick for no annual fee: Chase Freedom Flex
- Our pick for flat-rate cash back: Chase Freedom Unlimited
- Our pick for unlimited cash back: Capital One Quicksilver
- Our pick for fair credit: Capital One QuicksilverOne
- Our pick for dining and restaurants: Capital One SavorOne Rewards
- Our pick for large deposit balances: Bank of America Customized Cash Rewards Credit Card
To find the best cash-back credit cards, we compared the earning power, features and benefits of a variety of cards from major banks. Our rankings also take into account annual fees, foreign transaction fees and other costs associated with using these cards.
Our picks may be Authorized Partners that compensate us. This does not affect our recommendations or evaluations but may impact the order in which companies appear. For more details on how we selected our top picks, read our full methodology.
Best overall cash-back card
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The American Express Blue Cash Preferred Card is our choice for the best overall cash-back credit card. It earns up to 6% cash back on select categories, offers a generous welcome bonus and waives its $95 annual fee during the first year. You'll get 6% on the first $6,000 you spend each year at U.S. supermarkets, 6% on select streaming services and 3% on transit and at U.S. gas stations.
New cardholders can earn a $250 welcome bonus after spending $3,000 within the first six months and enjoy a 0% intro annual percentage rate (APR) for 12 months on purchases and balance transfers. It also includes up to $84 in Disney Bundle credits and up to $120 of Equinox+ credits each year.
What we like
- A very high cash-back rate on groceries
- A decent cash-back rate on gas
- Credits for Disney Bundle and Equinox+ subscriptions
What to consider
- Its annual fee reduces the benefit of cash-back rewards.
- Its cash-back categories have annual spending and geographic restrictions.
- Not everyone needs Disney Bundle or Equinox+ credits.
What reviewers say
Brian from North Carolina upgraded to the Blue Cash Preferred, and while he liked the card, he was frustrated when his credit limit was decreased due to "an 'annual' review where they pulled my credit file and saw that I had a couple of other cards with a balance."
Our pick for no annual fee
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The Chase Freedom Flex is our choice for the best cash-back card with no annual fee. This card offers rotating purchase categories in which you can earn 5% on the first $1,500 you spend each quarter after activation. Additionally, it earns 5% back when booking travel through Chase Ultimate Rewards, 3% on drugstore and dining purchases and 1% everywhere else.
New cardholders can earn a $200 bonus after spending just $500 within the first three months. The card also includes purchase, cellphone and travel protections at no extra charge.
What we like
- It earns up to 5% back on purchases.
- The spending requirement to earn its welcome bonus is very low.
- Its introductory 0% APR promotion is relatively lengthy.
What to consider
- You have to activate quarterly spending categories to earn bonus cash back; it’s not automatic.
- Quarterly cash-back bonuses are limited to the first $1,500 you spend.
- The card has a foreign transaction fee of 3%.
What reviewers say
Our pick for flat-rate cash back
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Consumers who don't want to worry about activating quarterly bonus categories may prefer the Chase Freedom Unlimited. It offers a flat 1.5% back on every purchase, plus the opportunity to earn at higher rates in specific purchase categories. You'll earn 5% when booking travel through Chase Ultimate Rewards, 3% at restaurants and drugstores and 1.5% everywhere else.
The Chase Freedom Unlimited offers a $200 bonus after spending $500 within three months from account opening and a 0% intro APR for 15 months on purchases and balance transfers. Cardholders also benefit from purchase and travel protections.
What we like
- Unlimited 1.5% back on every purchase
- No activation to earn top cash-back rates
- No annual fee
What to consider
- You have to book travel with Chase to earn at the card’s highest cash-back rate.
- It charges a foreign transaction fee of 3%.
- Unlike its sister card, cellphone protection is not included.
What reviewers say
Arthur from Tennessee said he was pleased to be approved for the Chase Freedom Unlimited after working to rebuild his credit: “I'm so happy Chase has given me the opportunity to show my creditworthiness. I picture this being just the beginning to a long relationship with JPMorgan Chase and their products and services.”
However, Jason from Pennsylvania was frustrated with Chase’s fraud protection. “Chase has a zero liability on fraudulent charges. I got roughly $130 in charges after being a loyal Chase customer for over two decades. Chase told me that I was responsible for $100 of it,” he said.
Our pick for unlimited cash back
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Cash-back credit cards with annual spending limits in bonus categories can be frustrating. Our pick for unlimited cash back is the Capital One Quicksilver. It offers a simple earning structure, with unlimited 1.5% cash back on every purchase and 5% on hotels and rental cars booked through Capital One Travel.
New customers also benefit from a $200 cash bonus after spending $500 within the first three months and a 0% intro APR promo for 15 months on purchases and balance transfers.
There’s no annual fee and no foreign transaction fee with this card, so you can use it anywhere in the world without hidden charges.
What we like
- Unlimited 1.5% back on every purchase and 5% back on hotel and rental car bookings via Capital One Travel
- Introductory 0% APR for 15 months on purchases and balance transfers
- No foreign transaction fees
What to consider
- There’s only one purchase category for earning cash back at a high rate (Capital One Travel bookings).
- You may be assigned a regular variable APR as high as 29.99% (as of publication).
- The card requires an excellent credit score.
What reviewers say
Joe from Louisiana wanted to take advantage of a balance transfer offer that came with his Quicksilver card, but it didn’t work out as he’d hoped. He claims that a Capital One customer service representative misinformed him of the balance transfer promotion’s length and that he ultimately paid $114 in interest on his balance after the promotional APR period ended earlier than he expected.
Our pick for fair credit
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If you have imperfect credit, you can still earn cash-back rewards while building your credit score. The Capital One QuicksilverOne card offers unlimited 1.5% cash back on every purchase, and it’s accessible to people with fair credit. As your credit improves, you may qualify for automatic credit line increases in as little as six months. That said, the card charges a $39 annual fee and has a high variable interest rate.
What we like
- Unlimited 1.5% cash back on every purchase
- Automatic credit line reviews after six months
- No foreign transaction fees
What to consider
- The $39 annual fee can negate your cash-back earnings.
- The card has a 30.49% variable APR (as of publication), which is relatively high.
- It has only one bonus cash-back category.
What reviewers say
However, Mark from Colorado says that while he likes that his credit score has increased significantly since getting the card, Capital One won't lower his interest rate, despite the fact that he’s been a cardholder for several years. "My credit score is in the 700s now, and I wanted to see if I could get a lower rate. They denied me," he said.
Our pick for dining and restaurants
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For people who frequently dine out, the Capital One SavorOne Rewards card is the best cash-back credit card for dining and restaurants. It offers an unlimited 3% cash back on dining, groceries, entertainment and popular streaming services and 1% everywhere else.
New customers also receive a $200 welcome bonus after spending $500 within the first three months and a 0% intro APR for 15 months on purchases and balance transfers.
While its sister card, the Capital One Savor Rewards card, earns 4% on dining, entertainment and streaming, the SavorOne Rewards is the better option for most people since it doesn't charge an annual fee. However, if you spend at least $800 or so per month on dining and entertainment, you may want to pay the $95 fee for the Savor Rewards card instead and earn that extra 1% in cash back.
What we like
- Unlimited 3% cash back on dining, groceries, entertainment and streaming
- Limited-time promo for 10% cash back on Uber and Uber Eats orders
- Introductory 0% APR on purchases and balance transfers for 15 months
What to consider
- It requires an excellent credit score.
- It has a variable APR of up to 29.99% (as of publication).
- The Savor Rewards card is better if you spend about $800 or more per month on dining and entertainment.
What reviewers say
Our pick for large deposit balances
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For customers with large deposit and investment balances, the Bank of America Customized Cash Rewards Credit Card is an ideal choice. The card offers 3% cash back in a purchase category of your choice and 2% back at grocery stores and wholesale clubs. Those rates apply to the first $2,500 you spend each quarter in those combined purchase categories.
However, you can earn 25% to 75% more cash back (for a rate of up to 3.75% to 5.25%) when you qualify for Preferred Rewards. A minimum average combined daily balance of $20,000 in Bank of America deposit accounts and/or Merrill investing accounts qualifies you for the first of four Preferred Rewards tiers. Higher balances may qualify you for higher tiers.
Additionally, new customers get a $200 bonus after making at least $1,000 in purchases in the first 90 days and a 0% intro APR offer on purchases and balance transfers for 18 billing cycles.
What we like
- Cardholders can choose their 3% bonus category each month.
- The card earns up to 5.25% cash back at the highest Preferred Rewards tier.
- Its intro APR period lasts for 18 billing cycles, which is the longest offered among the cards on this list.
What to consider
- Its bonus cash-back rates are limited to the first $2,500 spent each quarter in combined bonus categories.
- A balance transfer must be made within 60 days of opening your account for the 0% APR promotion to be applicable.
- It charges a foreign transaction fee of 3%.
What reviewers say
However, some readers felt that they received mixed messages from Bank of America regarding eligibility for the bank’s products. Christian from Pennsylvania applied for the Bank of America Customized Cash Rewards Credit Card based on a seemingly pre-qualified offer they received via email. But their application for the card was ultimately declined. "I finally applied. My credit score is excellent with no negative reporting, and I'm prescreened, so why not? DENIED is why not. Now I have a pointless hard pull on my credit report, harming my score," they said.
Compare cash-back credit card offers
| Card | Cash-back rewards |
|---|---|
| American Express Blue Cash Preferred Card | 6% on the first $6,000 spent annually on groceries; 6% on streaming services; 3% on transit and gas; 1% everywhere else |
| Chase Freedom Flex | 5% on the first $1,500 spent each quarter in rotating categories; 5% on travel booked through Chase Ultimate Rewards; 3% on drugstore and dining purchases; 1% everywhere else |
| Chase Freedom Unlimited | 5% on travel booked through Chase Ultimate Rewards; 3% on drugstore and dining purchases; 1.5% everywhere else |
| Capital One Quicksilver | 5% on hotels and rental cars booked through Capital One Travel; 1.5% everywhere else |
| Capital One QuicksilverOne | 5% on hotels and rental cars booked through Capital One Travel; 1.5% everywhere else |
| Capital One SavorOne Rewards | Limited-time promo for 10% on Uber and Uber Eats; 3% on dining, groceries, entertainment and streaming services; 1% everywhere else |
| Bank of America Customized Cash Rewards Credit Card | Up to 5.25% in a purchase category of your choice (restrictions apply) |
What is a cash-back credit card?
A cash-back credit card earns rewards you can redeem for cash, typically via statement credit, check or bank transfer. The amount of cash back you earn may vary depending on the type of purchase you make. While some cash-back cards earn a flat cash-back rate on all purchases, others offer bonus categories that provide higher rewards rates. But the bonus categories’ high earn rates may only apply up to a maximum purchase amount each month or year.
A cash-back card’s bonus rewards are usually earned automatically, but certain cards require you to activate bonus categories. In some cases, the bonus categories rotate.
» MORE: Best travel credit cards
Pros and cons of cash-back credit cards
A cash-back credit card is perfect for anyone who wants a simple, no-frills way to earn money back on their purchases. But it’s not necessarily the ideal fit for every type of consumer, particularly those who travel frequently.
Consider the general strengths and weaknesses of cash-back credit cards before you apply for one.
Pros
- Clarity and transparency: It can be difficult to measure the value of travel rewards. With cash-back credit cards, you always know what your rewards are worth.
- Easy redemption: Cash-back rewards are generally easy to redeem via statement credits, bank account deposits or a mailed check.
- Flexible use: You can use cash-back rewards to pay off debt, save for a financial goal or simply treat yourself to something special. When booking travel with cash back, you aren't hampered by blackout dates or limited to just one airline or hotel, like you might be with travel rewards points or miles.
Cons
- No potential for outsized value: Cash-back rewards have a defined value. With travel rewards, you can usually get a range of redemption values for your points or miles.
- Limited benefits: Cash-back cards typically don't include many extra benefits like free checked bags for flights, elite status or airport lounge access.
- Fees: Since these cards aren’t designed for travel, they may charge foreign transaction fees of up to 3%. Some cash-back cards may also charge high annual fees.
What to look for in a cash-back credit card
There are dozens of cash-back credit card options to choose from. To narrow down the list and find the best cash-back credit card for your lifestyle and spending patterns, compare these features:
- Earning power: What cash-back rates does the card offer on purchases?
- Bonus categories: Which bonus categories does the card offer? Do they match up with the merchants where you spend the most money?
- Category limits: Is the amount of cash back you can earn in a purchase category limited on a monthtly, quarterly or yearly basis? What happens after you hit the limit?
- Welcome bonus: Does the card offer a welcome bonus to new cardholders? Can you realistically meet the minimum spending requirement without breaking your budget?
- Intro APR offers: Does the card include a promotional APR offer on purchases, balance transfers or both? What are the terms of the offer, and are there any fees for transferring a balance?
- Redemption options: How easy is it to redeem your cash back? Many cash-back credit cards offer statement credits, deposits to your bank account or a mailed check. Some cards earn flexible rewards that can be redeemed for travel, gift cards, shopping and other items.
- Minimum redemption amount: Is there a minimum amount of cash back you need to have accumulated before you can redeem?
- Expiration dates: Do your cash-back rewards expire? Is there a way to extend their life, or do you lose them after a set amount of time?
- Other benefits: What other benefits come with the card? Purchase and travel protections may cover you in case something goes wrong with an item or travel expense that you charge to your card.
- Annual fees: Do you have to pay to use the card each year? Do the card’s rewards and benefits make up for the annual fee, or is there a no-annual-fee version of the card that might be a better option?
» MORE: Best business credit cards
How to use cash-back credit cards
Earning cash-back rewards from your credit card is pretty straightforward. Start by using your credit card for as many of your purchases as you can. Many cash-back card users choose to link their cards to recurring bills, like utilities, cellphones and subscriptions, so that they can automatically earn cash back on those expenses. Take note of your card's bonus categories to maximize rewards on those purchases.
If your card offers a welcome bonus, make sure that you meet the bonus’s spending requirement within the allotted time. This one-time bonus can provide a significant boost to your rewards.
To redeem your cash-back rewards, visit the bank's website or mobile app and select your card. When redeeming your cash back, you'll choose how you'd like to receive your rewards — typically as a statement credit, direct deposit to a bank account or mailed check. In some cases, you can also redeem your rewards for travel, gift cards, shopping or other items.
According to travel blogger John Perri, "Cash-back rewards offer ultimate flexibility. You can book travel based on the best price or location rather than whatever redemption options are available. Additionally, the cash back helps with daily expenses when you're not traveling."
FAQ
Are there any limits to earning cash back with my credit card?
Most cash-back credit cards offer unlimited rewards on your purchases. However, some cards have monthly, quarterly or annual limits for earning at their bonus cash-back rates. These limits are an important factor when comparing which credit card to apply for.
Do cash-back credit cards have any annual fees?
There are cash-back credit cards with no annual fee and cards that charge an annual fee. When comparing different cards, determine your projected net benefit by subtracting a card’s annual fee from how much cash back you expect to earn from it in one year. Depending on how much you spend annually, a card with lower earning power and no annual fee can be a better option than one with higher rewards and an annual fee.
Can I combine my cash-back rewards with other rewards?
Some cash-back credit card rewards may be combined with or converted to points earned by other rewards credit cards from the same issuer. Other cards’ cash-back rewards can’t be combined with rewards from any other card.
Does cash back expire?
Most cash-back rewards do not expire as long as the account is open or there is regular activity on the card. However, some cards’ cash-back rewards expire after a set period of time. For example, cash rewards from the U.S. Bank Cash+ Visa Signature Card expire 36 months after they're earned.
Bottom line
Instead of locking you into one loyalty program, cash-back credit cards allow you to choose how to spend your rewards without any restrictions.
When choosing the best cash-back credit card for you, ensure it aligns with your spending patterns to maximize your rewards. You should also review its other benefits, interest rates and fees to ensure it's a good match. In some cases, a card with high cash-back rates may not be a good deal for you after factoring in its annual fee.
Methodology
To make our top picks, the ConsumerAffairs team compared 38 different credit cards from major financial institutions — including American Express, Bank of America, Chase, Capital One, Citibank, U.S. Bank and Wells Fargo — that offer cash-back rewards. We reviewed these cards for a variety of factors, including fees, welcome bonuses, earning power, ongoing benefits and consumer reviews.
- Fees: We compared cards with no or low annual fees to find cards with the best net benefits after subtracting fees from rewards.
- Earning power: We evaluated how much cardholders could earn from each card based on its base earning rate and bonus category earning rates. This analysis also factored in monthly, quarterly and annual limits on some bonus categories.
- Welcome bonuses: We compared welcome bonus opportunities for each card based on the size of the bonus, how much you have to spend to earn it and how long you have to meet that spending requirement.
- Ongoing benefits: We considered perks like purchase protection, travel insurance and annual credits, as these ongoing benefits add long-term value to the card.
- Consumer reviews: We analyzed our own ConsumerAffairs reviews for cards that offer strong customer service, generous rewards and noteworthy perks. For all cards listed, we acknowledged if they had mixed reviews or no reviews.
