CASH BACK CREDIT CARDS Earn Cash Back. If you're like most American consumers who spend more on dining than entertainment, then note the emphasis on that part of the bonus. Some are no-fee, flat-rate credit cards that earn the same amount on all purchases. The $300 bonus is a nice incentive to sign up and effectively cancels out the annual fee for the first three years. Choose-your-own category cards allow you to choose your rewards category, like the Bank of America Cash Rewards card, which offers 3% back on the category of your choice, 2% back on groceries and 1% on everything else. And who wouldn't want to earn some bonus rewards just for going to the grocery story or gas station? The minimum threshold for a redemption is $25. Given the flexibility of the rewards program, I recommend using this card to fill a gap in your spending strategy. Once you start earning points and bonuses and rewards for spending, you may be tempted to try to rack up your rewards, but that will get you further away from your financial goals, not closer. The redemption flexibility is a nice advantage over other cards that only allow redemptions at certain levels, like 2,500 reward points or $25. At the checkout station of a participating retailer — either a cashiered lane or self-checkout — your Discover card will offer cash back amount choices, just like a debit card does. So unless you're spending that much on dining and entertainment specifically, the Wells Fargo Propel is the better choice for a cash-back rewards card. For more information, see our research on getting cash back from a credit card. For example, you can't request cash back on a credit card purchase at the grocery store or the pharmacy. A note, though, cash-back cards are most ideal for people who want to earn reward dollars with little-to-no effort. Reward rates: 5% on Amazon, Whole Foods; 2% at restaurants, gas stations, drugstores; 1% on everything elseAnnual fee: $0New member bonus: $70 Amazon Gift CardBonus redemption threshold: Card approvalCredit requirement: FairIntro APR: NoneAPR for purchases: 14.24% to 22.24% variableAPR for balance transfers: 14.24% to 22.24% variableBalance transfer fee: 5% (minimum of $5). Add to compare. The Chase Freedom Unlimited offers a $200 bonus if you spend $500 or more during your first three months -- that's one of the lowest bonus thresholds among the cards profiled here. Finally, business credit cards, like the Chase Ink Business line of cards or the Business Platinum Card from American Express, are for small businesses and even contractors and freelancers and geared toward logging business expenses. A business credit card will usually offer rewards for categories such as internet and phone bill expenses, office supplies and other business-related purchases. Compared to reward rates, those numbers are high. A statement credit is a reduction in the amount due to the credit card company on your monthly bill. This content has not been reviewed, approved or otherwise endorsed by any of the entities included within the post. It has a 3% foreign transaction fee. Worth noting is that this card does have a 3% transaction fee for anytime you make a foreign transaction. Some might seem valuable but not actually save you any money, like a card that doesn't charge foreign transaction fees when you never travel abroad. That makes the flexibility and choice of the Bank of America card stand out. This is why it's important to carefully monitor whether or not you're spending more when you use a credit card. 9,898 Reviews. The Citi Double Cash Card is as simple as the Chase Freedom Unlimited, but it's one of the few cards that doesn't offer a sign-on bonus. With some quick math, you'll see that if more than half of your online shopping is non-Amazon, the Bank of America Cash Rewards card reaps the most rewards. But with these fee cards, you're charged the $95 every year regardless of how much you use it, so take a beat to ensure it makes sense before applying. From there, you’ll see a range of in-store cash back offers, including: H&M; Athleta; Levi’s; Gap; Finish Line; Under Armour Travel rewards credit cards, for example, are great for those who travel often or who want to upgrade their travel experience with perks like airline lounge access or upgrades. If you maintain a balance on your credit card statement, you're erasing those rewards and then some, which is why we recommend paying off your balance in full each month. Solved (+ Where Else to Get Cash Back), H-E-B Cash Back Limit at the Register (+ Where Else to Get Cash Back), Does ALDI Do Cash Back? The minimum threshold for redemption is 2,500 points ($25). If you're looking to maximize your credit card spend redeem more credit card rewards, you might want to look at reward credit cards, like those made specifically for travel. 1%-5% You can redeem your Capital One Savor points in the form of a statement credit or as a check, at any amount (no minimum thresholds or maximum earning caps). With a credit card program with a $1,500 cash back limit per year at 5%, any spending over $30,000 would not contribute to accumulating any further cash back rewards. You can redeem AmEx points only as statement credits, with no option to redeem them for travel, gift cards or deposits into a checking account. They agonize over making purchases at the right time and might buy things that they don't really need just to get the most points or maximize their benefits. Time. Note that the Apple Card doesn't report credit activity to all three major credit bureaus (only TransUnion), so if you're trying to build your credit score, it will have less of an impact. This card is a must-have for anyone who shops regularly on Amazon. To figure out which cards make sense for you (in that they offer the highest cash back rewards), I've chosen eight high-value options from the crowded market. There are some advantages to Apple's card, though. These two cards will rarely be your one-and-only cards, unless your overall spending is heavily tilted toward one category. Baker's IGA. Since the bonus categories aren't rotating and the card covers a lot of ground, I recommend it paired with the Citi Double Cash Card or Chase Freedom Unlimited for non-bonus category spending. I've organized this list of cards by group, starting with the most straightforward cluster and ending with the ones that have the most complicated reward structures. The Blue Cash Preferred card also offers 6% back on streaming services, but with most Americans maxing out at about $40-50 per month on select US streaming services (and many spend less than that), that part of the reward only amounts to around $35 of annual value. Cash-back credit cards are also ideal for those who want just one type of rewards card versus many. Wells Fargo Propel has the best combination of rewards rate (unlimited 3% or 3x points) and breadth of categories (dining, gas, transit, travel and streaming services). While they usually exclude wholesale clubs such as Costco and BJ’s, and big box stores like Target and Walmart, … Say you have a travel rewards credit card, for example, that gives you 5x points on flights. Ah, now we're getting deep into each cash-back credit card. If you can’t find a suitable store credit card for no credit, consider a normal credit card designed for people with limited or no credit history. Some stores will also have additional limits on how much cash customers can request; for example, Walmart limits cash back to $100 per transaction. If you don't meet the credit criteria required, there are credit cards available that are specifically for those trying to rebuild credit, like secured credit cards. You can, however, get cash from your credit card … Only Discover’s “cash over” feature allows you to get cash back on your in-store purchases at participating retailers, customer service representatives said. When evaluating offers, please check the credit card provider's website and review its terms and conditions for the most current offers and information. “While store cards are great to use if you shop at one particular store frequently, we recommend the cards below with great perks like cash back, travel rewards, and low APRs. Cash-back credit cards are reward credit cards that let you earn bonus cash -- usually in the form of reward dollars -- on eligible purchases. 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