Credit cards offering cash back rewards are famous these days among credit card users. Such credit cards offering cash back reward offers you for some cash back facilities that may be points or cash reward for the purchases made with the use of that credit card. Normally, these credit cards offers 1% -5% of cash back rewards on purchase. In order to analyze which cash back credit card offers the best cash reward you need to be careful regarding few important factors like how much cash is received for per dollar spent and whether the earning from cash reward is enough to compensate the cost of carrying credit card. And you need to pay your full balance each month avoiding interest payment for purchase in order to earn potential reward.
If you are searching for the names of credit cards offering you the best and awesome cash back rewards, then I am here with the best 10 names from which you can make your choice.
1. Chase Freedom: The Chase Freedom credit cards offers a cash back reward of 5% on rotating categories which you need to active each quarter for higher cash back amount. Whereas, for rotating categories the ceiling per category is set at $1,500 which are on quarterly basis and 1% cash back for all other purchases & they are unlimited. It also offers sign-up bonus during first three months after opening the account of 100$ cash back for at least 500$ spending in purchase. Chase Freedom credit card also provide you the redemption facility of minimum $20 for a statement credit, direct deposit or paper check as well as an additional bonus of 10% on the points earned in the previous year if you have a chase checking account.
2. Discover it: Discover it credit card is the newest version of the Discover more card with better cash back offers than the previous one. They offers the cash back rate of 5% on quarterly rotating categories for which you need to sign up for each quarter to get the higher cash back amount. These categories have a ceiling of $1,500 in a purchase per quarter whereas you can earn unlimited 1% after you reached the ceiling on other purchases. With the bonus category of 5%, you can earn $75 in cash back per quarter or $300 per year. There is a redemption facility of cash back in increments of $50 for statement credit or direct deposit into your bank account.
3. Blue Cash Everyday® Card from American Express: Blue Cash Everyday Card from American Express offers you the cash back reward of 3% on everyday purchases like groceries, department stores and gasoline without the requirement of quarterly rotating categories. There is a ceiling on supermarket purchases $6,000 per year in US which allows you to earn $180 in cash back per year and 1% thereafter whereas there is no any annual fee on American Express Blue cash Everyday Card and also there is no ceiling on gas purchase, US department store or the all other purchases category. Rewards other than on supermarket purchases are 2% on gas purchases and U.S. department stores, and 1% on all other purchases. Within the first three months of opening the account if you spend $1,000 or more then you will receive a bonus of $50 reward, which can be redeemed for a $50 statement credit.
4. Blue Cash Preferred® Card from American Express: This Blue Cash Preferred Card From American Express is similar to Blue Cash Everyday Card From American Express but also have some significant differences like there is an annual fee and they may provide larger rewards than no annual fee reward cards. This credit card rewards purchases with Reward Dollars at 6% cash back for supermarket purchases up to $6,000 per year and then 1% thereafter, 3% cash back on gas stations at US and US department stores, and 1% everywhere else. 6% cash back for up to $6,000 per year on grocery store purchaser allows you to earn $360 each year with this preferred card.
5. Citi® Dividend Platinum Select® Visa®: Citi Dividend Platinum Select offers cash back reward in the form of Dividend Dollars rather than offering rewards in the form of Thankyou Points. Using this credit card, you can earn 5% cash back reward on rotating quarterly categories for which you must be enroll in, and 1% cash back reward on all other purchases. There is a ceiling of $6,000 per year on purchase and allows you to earn $300 in Dividend Dollars annually in all categories in total. Citi’s online portal retailers offers cash back specials of at least 5% and even sometimes up to 10%, that solely depends on the retailer. And, Citi card also rewards you with $5 cash back on each balance transfer of at least $1,500.
6. Bank AmeriCard Cash Reward: If you have accounts with Bank of America or Merrill Lynch and do not want to be bothered with such rotating categories than this can be the best option for you. Bank AmeriCard Cash Reward credit card offers you the reward on everyday purchase, 3% cash back reward on gasoline purchase, 2% on grocery store purchases, and 1% on all other purchases. There is a ceiling of $1,500 for combination of gasoline and grocery store purchase per quarter and that is not required to be activated and then unlimited 1% thereafter.
7. Capital One Quicksilver Cash Reward: If you spend more than the ceiling amount of purchase as fixed by other credit cards then Capital One Quicksilver Cash reward credit card is the best option for you. This card offers you with 1.5% cash back reward on all purchases as there are no rotating categories or specific purchases they earn more or less. If you spent $2,000 per month with your card, then you will earn $360 in cash back reward per year.
8. U.S. Cash Balance + Visa Signature: The U.S. Bank Cash + Visa Signature offers reward of 5% cash back on your first combined purchase of $2,000 in two categories each quarter on your selection (such as rentals, grocery stores, or restaurants) then, you will earn 1% thereafter. You can also earn 2% cash back reward everyday on one category according to your selection quarterly and 1% cash back reward on all other purchases. There is no any ceiling on purchases made in the 2% or 1% categories, and also rewards do not expire.
9. Fidelity® Investment Rewards American Express® Card: The Fidelity Investment Rewards American Express Card offers you earning points on everyday purchase rather than on quarterly categories. This credit card offers you to earn flat two points on all purchases i.e. each dollar spent equaling 2%. And, there are no such limits for cash back rewards that can be earned. In terms of redemption, this card provides you the facility of redeeming your points as cash deposit into your fidelity account or can also be redeemed through the worldPoints program for gift certificates, airline travel, car, rentals, cash, or hotel stays rather than just a statement credit.
10. Barclaycard Rewards for Excellent Credit: Barclaycard Rewards for Excellent Credit is the best credit cards among the all. This credit card offers you the reward of two points for each dollar spent i.e. equaling 2% on groceries, gas, and utility purchases and one point for all other purchases. There are also no such limits for cash back rewards and not even the expiry limitations for those points. If you spent $3,000 per month then you will earn $720 as reward for the year. You can redeem your earned points beginning at 2500 i.e. $25 for statement credits, gift cards or merchandise. This credit card does not allow you to redeem your points straight-out in cash but you can apply the dollar amount to the statement.
Further, you need to consider the purchases which you make and will make in future determining whether you can maximize a reward on credit card with rotating categories or fixed categories, or a card that offers a flat cash back reward amount on any purchase you make and you need to be sure about paying all your credits in full on the appropriate time avoiding interest to get the higher credit card rewards.