Best Cash Back Credit Cards Of The Year

If you’re looking for a way to earn cash back on your everyday purchases, then you’re in for a treat. Credit cards that offer cash back rewards are becoming increasingly popular, and for good reason. They allow you to earn money while you spend, which can add up to significant savings over time.

In this article, we’ll be discussing the best cash back credit cards of the year. We’ve scoured the market to find the most rewarding cards that offer cash back on a variety of categories, from groceries to gas to travel. Whether you’re a frequent traveler or a homebody, there’s a cash back credit card out there that’s perfect for you. So, sit back, relax, and let’s dive into the world of cash back rewards.

Best Cash Back Credit Cards of the Year

When it comes to credit cards, cash back cards are always a popular choice. These cards allow you to earn rewards in the form of cash back on your purchases. But with so many options out there, it can be overwhelming to choose the right one. That’s why we’ve put together a list of the best cash back credit cards of the year.

1. Chase Freedom Unlimited

The Chase Freedom Unlimited card is a great option for those looking for a simple and straightforward cash back card. With this card, you’ll earn 1.5% cash back on all purchases, with no limit to how much you can earn. Plus, you can earn a $200 bonus after spending $500 in the first three months.

One of the best features of the Chase Freedom Unlimited card is its flexibility. You can redeem your cash back as a statement credit, deposit into your bank account, or use it to book travel through the Chase Ultimate Rewards portal.

2. Discover it Cash Back

The Discover it Cash Back card is another great option for those looking for a cash back card. This card offers 5% cash back on rotating categories each quarter, up to $1,500 in purchases. Plus, you’ll earn 1% cash back on all other purchases.

One unique feature of the Discover it Cash Back card is its Cashback Match program. At the end of your first year as a cardholder, Discover will match all of the cash back you’ve earned. So if you’ve earned $500 in cash back throughout the year, Discover will match it, giving you a total of $1,000 in cash back.

3. Citi Double Cash

The Citi Double Cash card is a great option for those who want to maximize their cash back earnings. With this card, you’ll earn 1% cash back on all purchases and an additional 1% cash back when you pay your bill. This means you can earn up to 2% cash back on all of your purchases.

Another great feature of the Citi Double Cash card is its lack of an annual fee. This makes it a great option for those who want to earn cash back without having to pay extra fees.

4. Capital One Savor Cash Rewards

The Capital One Savor Cash Rewards card is a great option for those who spend a lot on dining and entertainment. With this card, you’ll earn 4% cash back on dining and entertainment purchases, 2% cash back at grocery stores, and 1% cash back on all other purchases.

In addition to its cash back rewards, the Capital One Savor Cash Rewards card also offers a $300 cash bonus after spending $3,000 in the first three months.

5. Blue Cash Preferred from American Express

The Blue Cash Preferred from American Express card is a great option for those who spend a lot on groceries and gas. With this card, you’ll earn 6% cash back on up to $6,000 in purchases at US supermarkets per year, 3% cash back on purchases at US gas stations and select US department stores, and 1% cash back on all other purchases.

The Blue Cash Preferred card does come with an annual fee of $95, but the cash back rewards can easily outweigh this fee for those who spend a lot in the bonus categories.

6. Bank of America Cash Rewards

The Bank of America Cash Rewards card is a great option for those who want to choose their own bonus category. With this card, you can choose to earn 3% cash back in one of six categories: gas, online shopping, dining, travel, drugstores, or home improvement and furnishings. You’ll also earn 2% cash back at grocery stores and wholesale clubs, and 1% cash back on all other purchases.

Another great feature of the Bank of America Cash Rewards card is its sign-up bonus. You can earn a $200 cash bonus after spending $1,000 in the first 90 days.

7. Amazon Prime Rewards Visa Signature

The Amazon Prime Rewards Visa Signature card is a great option for those who shop frequently on Amazon.com. With this card, you’ll earn 5% cash back on all purchases made on Amazon.com, 2% cash back at restaurants, gas stations, and drugstores, and 1% cash back on all other purchases.

If you’re an Amazon Prime member, you’ll also receive additional benefits, such as free two-day shipping and access to streaming of movies, TV shows, and music.

8. Target RedCard

The Target RedCard is a great option for those who shop frequently at Target. With this card, you’ll earn 5% cash back on all purchases made at Target and Target.com. Plus, you’ll receive free shipping on all online orders.

The Target RedCard does not have an annual fee, making it a great option for those who want to earn cash back without having to pay extra fees.

9. Costco Anywhere Visa Card

The Costco Anywhere Visa Card is a great option for those who are Costco members. With this card, you’ll earn 4% cash back on eligible gas purchases (up to $7,000 per year), 3% cash back on restaurants and eligible travel purchases, 2% cash back on all other purchases from Costco and Costco.com, and 1% cash back on all other purchases.

Another great feature of the Costco Anywhere Visa Card is its lack of an annual fee (with a paid Costco membership).

10. Wells Fargo Propel American Express

The Wells Fargo Propel American Express card is a great option for those who want to earn cash back on a variety of purchases. With this card, you’ll earn 3% cash back on dining, gas stations, rideshares, transit, flights, hotels, homestays, and car rentals, and 1% cash back on all other purchases.

In addition to its cash back rewards, the Wells Fargo Propel American Express card also offers a sign-up bonus of 20,000 bonus points (worth $200 in cash back) after spending $1,000 in the first three months.

In conclusion, there are plenty of great cash back credit cards out there. When choosing a card, it’s important to consider your spending habits and which categories you spend the most in. With the right card, you can earn significant cash back rewards on your everyday purchases.

Frequently Asked Questions

Below are some common questions about the best cash back credit cards of the year.

What are cash back credit cards?

Cash back credit cards are credit cards that offer rewards in the form of cash back on purchases. The cash back usually ranges from 1-5% of the purchase price and can be redeemed for statement credits, direct deposits, or gift cards. Some cards also offer bonus cash back categories that change throughout the year.

Cash back credit cards are a great way to earn rewards on everyday purchases, such as gas, groceries, and dining out. They can also help you save money on purchases you were already planning to make.

What should I look for in a cash back credit card?

When choosing a cash back credit card, you should consider the rewards rate, annual fee, and any bonus categories. You should also look for a card that fits your spending habits and offers rewards for purchases you make frequently.

Additionally, you may want to consider the card’s benefits, such as travel insurance, purchase protection, and extended warranty coverage. These benefits can be valuable if you frequently travel or make large purchases.

What are the best cash back credit cards of the year?

The best cash back credit cards of the year vary depending on your spending habits and preferences. However, some popular options include the Chase Freedom Unlimited, Citi Double Cash, and Blue Cash Preferred from American Express.

These cards offer high rewards rates, bonus categories, and valuable benefits. However, it’s important to compare the features and fees of each card before choosing one that fits your needs.

How do I redeem my cash back rewards?

The redemption process for cash back rewards varies depending on the card issuer. Some cards allow you to redeem your rewards for statement credits, while others offer direct deposits or gift cards.

To redeem your rewards, you can typically log into your account online or through the issuer’s mobile app. From there, you can select the redemption option that works best for you.

Are there any downsides to using a cash back credit card?

While cash back credit cards can be a great way to earn rewards on everyday purchases, there are some potential downsides to using them. One downside is that some cards come with annual fees, which can cut into your rewards earnings.

Additionally, if you carry a balance on your credit card, the interest charges can quickly negate any rewards earned. It’s important to pay your balance in full each month to avoid accruing interest charges.

In conclusion, the best cash back credit cards of the year are a great way to get rewarded for your daily purchases. Whether you’re looking for bonus categories or a high flat rate, there’s a card out there that can meet your needs. With so many options available, it’s important to take the time to compare and choose the one that’s right for you.

Remember, the key to maximizing your cash back rewards is to use your card responsibly and pay off your balance in full each month. By doing this, you’ll avoid interest charges and ensure that you’re truly getting the most out of your rewards.

So, if you’re in the market for a new credit card, be sure to consider one of the best cash back credit cards of the year. With the potential to earn hundreds of dollars in rewards each year, it’s an opportunity that’s simply too good to pass up.