11 Best Cash Back Credit Cards of 2023

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Best Cash Back Card for Groceries

Blue Cash Preferred® Card from American Express

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Annual Fee

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Highlights

6% at U.S. supermarkets up to the first $6,000 spent annually (1% thereafter)

Welcome Offer

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Best No-annual-fee Cash Back Card for Dining

Capital One SavorOne Cash Rewards Credit Card

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Annual Fee

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Highlights

3% back on dining, entertainment and select streaming services

Welcome Offer

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Best Cash Back Card with No Annual Fee

Chase Freedom Unlimited®

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Annual Fee

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Highlights

5% on travel booked through Chase Travel℠

Welcome Offer

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Best Cash Back Card for Business

Ink Business Cash® Credit Card

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Annual Fee

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Highlights

5% cash back on the first $25,000 spent in combined purchases on office supply stores, internet, cable and phone services each year

Welcome Offer

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Getting something back for your everyday purchases is probably one of the best reasons to use a credit card.

While most cards on the market offer a variety of rewards and perks, the best cash back credit cards will reward you in an easy, tangible way: by giving you a fixed percentage of what you spend, delivered right to your account or, in some cases, your door in the form of a check.

Read our guide to find out which cards offer the highest cash back rates and choose the right one for you.

Our Top Picks for Cash Back Credit Cards of 2023

• Chase Freedom Unlimited® — Best with No Annual Fee
• Blue Cash Preferred® Card from American Express — Best for Groceries
• Ink Business Cash® Credit Card — Best for Business
• Bank of America® Customized Cash Rewards Credit Card — Best for Custom Categories
• Capital One Savor Credit Card — Best for Dining
• Capital One SavorOne Cash Rewards Credit Card - Best for Dining with No Annual Fee
• Alliant Cashback Visa® Signature Credit Card — Highest Cash Back Rate
• Chase Freedom Flex® — Best for Rotating Categories
• TD Double Up℠ Credit Card — Best Flat Rate
• Sam’s Club® Mastercard® — Best for Gas
• Prime Visa— Best for Retail
• Other cash back credit cards we considered

Best Cash Back Credit Cards Reviews

Courtesy of Chase

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Why we chose it: Simply put, the Chase Freedom Unlimited® offers more bonus categories and higher cash back rates than most no-annual-fee cards — higher, in fact, than than some cards that do charge an annual fee.

The Chase Freedom Unlimited® offers some of the highest reward rates of any no-annual-fee cards, including:

• 5% on travel purchased through the Chase Ultimate Rewards® portal

• 3% on dining and drugstore purchases (including takeout and eligible delivery services)

• 1.5% on all other purchases

However, during your first year of card membership — or up to your first $20,000 spent — you’ll earn an additional 1.5% cash back on all purchases. This translates to:

• 6.5% cash back on travel booked through Chase Ultimate Rewards®

• 4.5% cash back on purchases made at drugstores and dining at restaurants (including takeout and eligible delivery services)

• 3% on all other purchases

After your first year, or the first $20,000 spent, the rewards go back to the above-mentioned base rate.

In addition to its high reward rates, the Chase Freedom Unlimited® also offers rental collision waiver and flight cancellation insurance, which make it one of the best cards to use to book your travel plans. Do note, however, that it has a pesky 3% foreign transaction fee on any purchase you make abroad, so you might want to take a different card once you’re actually on your trip.

Finally, Chase Ultimate Rewards® frequently provides promotional offers for cardholders, and you can often get up to 20% cash back at specific stores upon activation.

Courtesy of American Express

Terms apply. Click here for rates and fees.

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Why we chose it: The Blue Cash Preferred® Card from American Express offers incredibly high rewards, especially when it comes to groceries and transportation.

American Express® cards are known for providing plenty of rewards and luxury perks, and the Blue Cash Preferred® Card from American Express is easily its best when it comes to cash back.

It offers one of the highest rates out there when it comes to groceries as well as on a variety of reward categories:

• 6% at U.S. supermarkets up to the first $6,000 spent (1% thereafter)

• 6% on select U.S. streaming subscriptions

• 3% on transit-related purchases and at U.S. gas stations (including taxis/rideshare, parking, tolls, trains, buses and more)

• 1% on all other qualifying purchases

• Terms apply

Select U.S. streaming services include fan favorites like Netflix, Hulu and Spotify. This means that, depending on how many subscriptions you have, you could get over $30 back a year just for binge-watching your favorite shows.

This card’s biggest drawback is that, although it does not charge an annual fee for the first year, it does charge a $95 annual fee after that. While it also comes with benefits such as secondary rental car insurance, purchase protection and more, the $95 might not be worth it if your grocery shopping is minimal and/or you don’t commute much.

If the annual fee is a deal-breaker, you can also take a look at the Blue Cash Everyday® Card from American Express. That one offers 3% back on eligible purchases at U.S. supermarkets and on U.S. gas stations, up to $6,000 on each of those categories, and 1% after. (Terms apply. See rates and fees for Blue Cash Everyday® from American Express.)

Courtesy of Chase

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Why we chose it: The Ink Business Cash® Credit Card by Chase offers high cash back rates on business-related expenses and great insurance coverage for no annual fee.

This business card by Chase offers a whole lot of value for its $0 annual fee, beginning with high rewards on a variety of business expenses, which include:

• 5% on the first $25,000 in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year

• 2% on restaurants and gas stations up to $25,000 combined annually

• 1% on all other qualifying business purchases

As with all business cards, you can get employee cards and monitoring services at no cost. It also offers primary rental car insurance when the vehicle is used for business purposes, a perk rarely found, if ever, in cards with no annual fee.

Unfortunately, it doesn’t offer any travel perks and the card does charge a foreign transaction fee of 3%. For additional and travel-related benefits, other point-based cards offer much more but with the cost of an annual fee.

Best for Custom Categories: Bank of America® Customized Cash Rewards Credit Card

Courtesy of Bank of America

Why we chose it: The Bank of America® Customized Cash Rewards Credit Card allows cardholders to choose from a long list of categories the ones that yield the most rewards for them.

This card by Bank of America is, as its name suggests, customizable. Each quarter, you can choose a category between dining, gas, travel, drugstores, online shopping and home improvement or furnishing; cash back rates are as follows:

• 3% on a category of your choice up to $2,500 each quarter, 1% thereafter

• 2% at grocery stores and wholesale clubs up to $2,500 combined with 3% category

• 1% on all other qualifying purchases

Preferred Rewards members, who must comply with hefty checking account requirements ($20,000 three-month combined daily average to qualify for the lowest Gold Tier), can get even more cash back on all categories. Gold members could earn 3.75% cash back on their custom category, for example, and all the way up to 5.25% for Platinum and Diamond members.

On the downside, the Bank of America® Customized Cash Rewards Credit Card doesn’t provide added features beyond standard services such as fraud and overdraft protection. There’s no travel-related insurance policies or cell-phone protection.

All information about the Bank of America® Customized Cash Rewards Credit Card has been collected independently by Money.com.

Courtesy of Capital One

Why we chose it: The Capital One Savor Credit Card is practically tailor-made for a night out, offering high rewards on dining as well as entertainment.

Many cards offer bonus rewards on dining and takeout; however, if your week regularly includes date nights and hitting the town to catch games and live shows, few come close to the Capital One Savor Credit Card.

This card is designed to reward a great night out. Categories include:

• 8% on ticket purchases through Capital One Entertainment

• 4% on dining and entertainment, including concerts, movies, sporting events and more

• 5% cash back on hotels and rental cars booked through Capital One Travel

• 3% on groceries, excluding superstores like Walmart and Target

• 1% on all other qualifying purchases

Whether going out or staying in and cooking dinner, this card has you covered.

Keep in mind that this version of the card has a $95 annual fee. If that’s a deal-breaker, check out our next pick, the no-annual-fee Capital One SavorOne Cash Rewards Credit Card.

All information about the Capital One Savor Rewards Credit Card has been collected independently by Money.com.

Courtesy of Capital One

Why we chose it: This Capital One SavorOne Cash Rewards Credit Card offers very high rewards on dining and entertainment without having to make up for a yearly cost.

While the Capital One Savor Credit Card offers a higher reward rate on dining and entertainment, its no-annual-fee counterpart offers plenty of rewards of its own. These include:

• 10% on Uber and Uber Eats purchases, along with an Uber One membership (through 11/14/2024)

• 8% on ticket purchases through Capital One Entertainment

• 5% cash back on hotels and rental cars booked through Capital One Travel

• 3% back on dining, entertainment and select streaming services

• 3% at grocery stores, excluding superstores like Walmart and Target

• 1% on all other qualifying purchases

As with many Capital One cards, this card also gives you access to Capital One Dining which comes with even more benefits including exclusive reservations at great restaurants and specialized dining experiences with top chefs.

Note that this card does require excellent credit; however, Capital One has yet another version of this card meant for good (not excellent) credit — the Capital One SavorOne Cash Rewards for Good Credit.

Best for Rotating Categories: Chase Freedom Flex® Credit Card

Courtesy of Chase

Why we chose it: The Chase Freedom Flex® packs great rewards and perks; add on the 5% cash back on quarterly categories and it’s easily one of the best cards in the category.

A card that simply offered 5% back on travel, 3% on two extra categories and nothing else would already be a leading contender for best cash back card. The Chase Freedom Flex℠ offers that and more:

• 5% on quarterly bonus categories (up to $1,500 on combined purchases in the quarterly categories)

• 5% on travel booked through Chase Ultimate Rewards®

• 3% on dining at restaurants (including takeout and eligible delivery services)

• 3% on drugstore purchases

• 1% on all other qualifying purchases

The categories for each quarter depend on Chase’s cash back calendar; for example, you could get 5% back on gas one quarter, followed by the same rate of rewards on purchases at Amazon the next.

It also offers significant insurance and protection, which is rare for cards without an annual fee. It has trip cancellation and delay insurance, cell phone protection, extended warranties, purchase protection and more.

Keep in mind that the Chase Freedom Flex® only offers 1% on regular purchases. If you’re not going to use or keep track of the 5% rewards categories, you should consider the Chase Freedom Unlimited®, our pick for best no-annual-fee card.

All information about the Chase Freedom Flex® has been collected independently by Money.com.

Courtesy of Alliant

Why we chose it: Alliant’s credit card has an advantage over all other flat rate cards: a 2.5% cash back on every qualifying purchase up to $10,000 spent monthly. That’s a potential $3,000 in cash back per year.

This card by Alliant Credit Union offers the highest flat-rate cash back around: 2.5% on every purchase, up to the first $10,000 spent per billing cycle. This is a potential $3,000 if you spend the full amount; after that, you can still keep earning unlimited cash back at a base rate of 1.5%.

While the rate is certainly attractive, earning it does involve certain requirements. To qualify for the 2.5% earning rate, you have to be an Alliant Tier One customer. This means cardholders must have an Alliant High-Rate Checking account, keep an average daily balance of $1,000 or more, sign up for eStatements and make at least one electronic deposit a month.

This could be onerous or even inaccessible for some potential customers. However, if you can easily meet these requirements, the 2.5% will be well worth it. If you don’t qualify for the 2.5% rewards, you’ll still get cash back, but at a 1.5% rate.

In addition to its high rewards, the card includes significant perks, such as travel accident insurance, purchase protection and other warranty policies. This makes the Alliant Cashback Visa® Signature Credit Card a very complete package that, when paired with no annual fee, can yield enormous savings.

All information about the Alliant Cashback Visa® Signature Credit Card has been collected independently by Money.com.

Best Flat Rate: card_name

Courtesy of TD Bank

Why we chose it: The card_name not only offers a high flat rate of 2% cash back, but it also comes with the most extensive array of insurance-related perks of any card in its category.

The TD Double Up℠ Credit Card offers hassle-free 2% cash back. In other words, there are no special requirements or bonus categories, just 2% back on eligible purchases across the board.

In addition to that, it has a long list of insurance policies on purchases made with the card, including up to an additional year of extended warranty. It actually offers the most insurance services out of all cards with a 2% flat rate, which makes it an excellent all-around option. Unfortunately, the cards is not available on the entire country. It's limited to the states in which TD Bank is present (CT, DC, DE, FL, MA, MD, ME, NC, NH, NJ, NY, PA, RI, SC, VA and VT).

There is also a catch with the insurance services, though it's not a dealbreaker — if your credit limit is below $5,000, only cell phone protection applies.

Once a cardholder is approved for $5,000 or more, reaching Visa Signature status, they’ll qualify for the other insurance policies: extended warranty, purchase security, lost luggage reimbursement and travel accident insurance.

Courtesy of Sam's Club

Why we chose it: Plain and simple, no other card offers 5% back on gas like the Sam’s Club® Mastercard® does — this, in addition to other great benefits, makes it a great option for avid Sam’s Club shoppers.

The Sam’s Club® Mastercard® is not just for wholesale shopping fans as it also offers benefits outside the store. Its rewards program includes the following cash back categories:

• 5% at U.S. gas stations up to the first $6,000 spent (1% thereafter)

• 3% on dining and takeout

• 3% on Sam’s Club purchases for Sam’s Plus members

• 1% on all other qualifying purchases

• Cardholders can earn a maximum of $5,000 in Sam’s Cash in a calendar year

The card’s 5% back at U.S. gas stations is the highest among its kind. If you commute long hours or drive a gas-guzzler, that’s $300 of cash back each year, in addition to what you’ll earn at the 1% rate after that first $6,000 you spend.

You can use all this cash back to pay at any Sam’s Club, both at the register or through the mobile app, or redeem it for actual cash at the cash register.

Having said that, the lackluster introductory offer, the lack of any travel or purchase insurance and the need to be a Sam’s Club member are definite drawbacks. However, if you live near Sam’s major competitor, check out the Costco Anywhere Visa® Card by Citi, which offers 4% on gas up until the first $7,000 spent, and 1% afterwards.

All information about the Sam’s Club® Mastercard® has been collected independently by Money.com.

Courtesy of Chase

Why we chose it: With one of the highest store-specific cash back rates, and one of the largest product selections in the world, the card_name can get you hundreds of dollars back a year.

The amount of products and services that tech giant Amazon offers is, arguably, the largest selection in the world. A card that gives you 5% every time you hit that purchase button is definitely a good addition to your wallet.

That’s not all it offers, though, as there are more categories and more chances to earn:

• Up to 10% on select Amazon products
• Unlimited 5% on Amazon and Whole Foods purchases
• Unlimited 2% on dining, gas and drugstore purchases
• 1% on all other qualifying purchases

While you could also get the Amazon Prime Store Card and get 5% cash back, the Prime Visa by Chase offers significant benefits beyond that.

It also offers a wide variety of insurance and protection services, including travel accident insurance, rental car collision waiver, luggage reimbursement, purchase protection and more.

If you’re already a Prime member and do a lot of your shopping in Amazon-affiliated sites or stores, including using AmazonPay, this card is one of your best ways to get rewarded for it.

Other cash back credit cards we considered

Citi Double Cash® Card

Courtesy of Citi

The Citi Double Cash® Card is a solid cash-back option, giving back 2% on all purchases — 1% when you buy, and 1% when you pay your card. It’s also a great option for a balance transfer card. However, while its cash-back rate is good, it’s not as high as many others on this list.

All information about the Citi Double Cash® Card has been collected independently by Money.com.

Citi Custom Cash® Card

Courtesy of Citi Bank

The Citi Custom Cash® Card is similar to a rotating categories card, but personalized. It offers 5% cash back on the cardholder’s most used eligible category each billing cycle, on up to $500 a month. While it’s a great card, its low spending cap for extra cash back, along with the absence of bonus categories, leaves it a little behind other options.

All information about the Citi Cusom Cash® Card has been collected independently by Money.com.

Wells Fargo Active Cash Card

Courtesy of Wells Fargo

The Wells Fargo Active Cash® Card is a great option if you don’t want to keep track of what categories yield the highest rewards. With 2% cash back on all eligible purchases, you’ll get solid rewards every single time. It also offers cell phone protection. It didn’t make our list, however, because competitors are offering a wider array of insurance options.

Discover it® Cash Back Credit Card

Courtesy of Discover

The Discover it® Cash Back Credit Card offers a cash back match during the first year, meaning it doubles however much you earned at the end of the year. However, once you lose that perk after the first year, its reward rate isn’t as high as many competitors’.

All information about the Discover it® Cash Back Credit Card has been collected independently by Money.com.

Apple® Card

Courtesy of Apple

Apple’s credit card provides one of the most intuitive and transparent ways to pay out there if you’re using Apple Wallet. It also has great rewards that are paid almost instantaneously. However, its lack of intro offers and the need to use Apple Pay to earn these high rewards leaves it out from our top picks.

All information about the Apple® Card has been collected independently by Money.com.

SoFi Credit Card

Courtesy of SoFi

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This SoFi card has an interesting approach to rewards, offering even higher payouts when you make deposits into an investment account. You get 3% cash back during the first year and 2% thereafter. However, it’s actually a system of points that equates to a cent each (like cash back) only when redeemed for shares or deposited into a SoFi account. The rate drops considerably when used as a statement credit and can’t be redeemed as cash outside of SoFi.

Capital One Spark Cash Plus

Courtesy of Capital One

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The card_name from Capital One provides unlimited 2% cash back on business purchases, as well as 5% on travel and rental cars when booked through Capital One Travel. Although it has a $150 annual fee, businesses that spend over $200,000 in a year get an annual $200 bonus that can make up for it. It doesn’t provide much more than that, unfortunately, which is why it doesn’t make the cut.

Cash Back Credit Cards Guide

Credit cards can be complicated. Calculating and evaluating points versus cash back can be confusing, plus other rewards, perks and insurance policies are hard to keep track of.

In this guide, you’ll find information about cash back rewards specifically, how they work and how to choose the right card for your purchasing habits.

What are cash back credit cards?

Although it sounds too good to be true, cash back credit cards do just that: they give you a small amount of your spending back. Unlike points, which are subject to the issuer’s rewards program and formulas, cash back corresponds to dollar value. That is, if you spend $100 and your credit card offers 1% cash back, you’ll get $1 back in your account.

This can be instant, like with the Apple® Card, but cash back may be paid monthly or yearly.

Depending on your preferences, cash back earnings can be used as a statement credit to pay the card back or as points in the issuer’s website, which you can then redeem for certain products and services. Or it can be actual cash added to your bank account via direct deposit.

It’s important to note that different terms apply to different credit cards, and “qualifying purchases'' or “eligible purchases” can mean different things. In some cases, qualifying purchases can mean those from specific stores or categories, while in other cases, some purchases yield no cash back at all.

However, in most credit cards (and all of our picks), this exception is usually mentioned for the base rate or flat rate. This means that you typically won’t get cash back for transactions such as money orders, balance transfers, person to person deals (with the exception of the PayPal Cashback Mastercard®), or things of that nature, but most purchases will at least get the minimum cash back.

Reading the card’s fine print is important, especially in terms of specific exclusions about bonus categories or offers. For example, some cards specify that wholesale clubs don’t qualify as supermarkets. That means purchases at Costco or other wholesale clubs won’t earn the high rate of rewards available for supermarkets, but you’ll still earn the base rate cash back.

Types of cash back credit cards

Most credit cards feature a specific type of reward structure, such as a flat cash back percentage on all purchases or the use of bonus categories, in which the cardholder earns bonus rewards for purchases of a certain brand or kind of product or service. Some cards might combine aspects of both of these reward structures and use a hybrid approach.

These are the main types of cash back you’ll find:

Flat rate credit cards

Flat rate credit cards have a fixed cash back percentage across the board. Anything you purchase, with the exception of money orders, fee payments and similar transactions, will earn the pre-established percentage.

Most flat rate cards have a higher cash back base rate than other types. A typical flat rate card earns 1.5% cash back. Many of these feature “Unlimited” in their names, which, as that implies, means there are no monthly or annual spending limits past which you can’t earn rewards. However, unlimited flat rate cards usually do not have bonus categories that can garner you higher cash back rates.

Recently, there’s been a spike in cards with a 2% across all purchases, such as the Citi Double Cash® Card and the Wells Fargo Active Cash® Card.

These are great choices for those who want a single card to get high rewards on absolutely everything. For lucky cardmembers who can pay expensive bills with their credit card, like rent or a car loan (if your lender allows it without charging fees), this can be especially rewarding.

Bonus categories or tiered rewards credit cards

Many cards offer higher cash back rates in special categories — in some cases, much higher. The categories can vary widely and depend on the type of card you get. For example, a specialized dining card may earn you bonus cash back at restaurants, while a card partnered with a specific store might give extra rewards or special discounts on purchases with that retailer.

These rewards are usually tiered. For example, a card can offer 4% back on gas, 3% at drugstores, 2% on streaming and 1% on everything else. This minimum on everything else is regularly referred to as the base rate.

Rotating or quarterly categories cards

Some cards offer a set rate of cash back, but change categories throughout the year. For instance, a card can offer 5% on gas during the first quarter of the year, and then 5% on travel during the second.

This method usually requires activation on the user’s part and regular attention to see what the calendar brings next.

Custom categories cards

Some credit card issuers let users choose a specific bonus reward category every quarter from a preselected list.

However, this method, just like rotating categories, tends to have a low spending cap for bonus rewards and requires activation.

Cash back categories

While they reward spending differently, most cards use Merchant Category Codes (MCCs) to identify purchases and then reward each one differently.

How issuers group and reward these categories can be flexible, however, which can work in your favor or not, depending on your shopping habits. For example, if you buy groceries at a drugstore, you’ll get the rate awarded to drugstore purchases, not supermarkets. With some cards, that means higher rewards; with others, it’s a lost opportunity.

These are some of the most common ones:

Restaurants. This includes restaurants, fast foods, cafes and most sit-down establishments. Some issuers use the word dining, which can sometimes (but not always) include takeout and delivery services.

Gas stations. This rewards you when paying at the pump, but it might also include other purchases at the gas station. Another possible category is transit, which typically includes gas, along with public transportation, paytolls, taxis, parking and more.

Travel. Travel doesn’t just include airfare, but hotels and rental cars as well. While most popular travel-focused cards use points systems, there are some cash back options with high travel rewards when you use their digital portals for booking vacations.

Supermarkets. Often specified as “U.S. Supermarkets,” this is just what it sounds like. However, in many cases the category excludes wholesale stores like Costco and stores such as Walmart and Target®. This category of spending can also be called groceries.

Retailers. Some stores tend to offer high reward rates if you use their co-branded cards at their retail locations. In this case, it’s not so much a category but benefits you can get from purchases made with a particular store or brand.

Streaming services. Some cards offer high rewards on select streaming services, which considering all the current options, can amount to quite a bit. Be sure to check each issuer’s list of approved services to ensure your favorites are included.

Utilities. Bills such as energy, water and internet can be categorized as utilities and yield higher rewards with certain cards.

Business expenses. Although “business expenses” is not a category of its own, the best business credit cards often reward business-related expenses such as telecommunication services, shipping services or advertising and marketing. These are all separate categories, so make sure you look at which one each card offers.

Pros and cons of cash back credit cards

There are two main types of rewards structures: points and cash back. While cash back is fairly straightforward, points are measured by the issuers’ own systems.

If you want a more in-depth look at credit cards all around, and the differences between rewards structures, you can check out our article on the best credit cards, which takes a look at credit cards of all types.

Here are some advantages and drawbacks of cash back over points.

How to choose a cash back credit card

In the process of applying for a cash back credit card, you should take into account your personal finances and spending habits as well as other factors.

Here are some things to consider before filling the application.

1. Your credit status

The first step when applying for a new credit card is to understand how lenders analyze your financial status and what their requirements are. Some lenders are more lenient than others, but all will take into account your income, your debt-to-income ratio and your FICO score, among many other factors.

If you’re just starting out, you may want to learn what is a credit score and how to build credit, and perhaps obtain a copy of your credit report if one is available. You could also take a look at secured credit cards, for example, or check out our best student credit cards if you’re in college.

And, if your credit isn’t where you’d like it to be, check out the best credit repair companies, which could help you raise your score before you apply for a new card.

2. Consider spending habits when looking at rewards rates

If you’re looking for the best cash back credit cards, it means you’re in it for the rewards. Analyze and compare the different tiers of cash back offered by each card and evaluate how much you spend in each category.

For example, a big family or an avid home chef might benefit from high rewards on groceries with a card like the Blue Cash Preferred® Card from American Express. However, someone who doesn’t have a particular category that accounts for a lot of their monthly expenses could be better off with a flat-rate option such as the Wells Fargo Active Cash® Card.

3. Calculate whether the annual fee is worth it

While cash back cards don’t typically charge high annual fees, you’ll still have to analyze whether the rewards make up for the fee. Say you manage to earn $1,000 in cash back with a 2% cash back card, but have to pay a $95 annual fee. Your yearly cash back total will be $905. But if you could instead make $950 with a 1.5% cash back card that doesn’t charge an annual fee, you’d be better off.

4. Compare introductory offers

Most cards include intro offers to lure applicants. Some are in the form of introductory bonuses, giving $50 to over $1,000 after the cardholder reaches a spending requirement within a few months from the account opening.

Some cards also have a promotional period with a 0% introductory APR offer on purchases and, possibly, balance transfers — frequently, on both. This period can be from nine months all the way up to 21 months. Some cards also offer lower balance transfer fees during the first few months from account opening.

The best cards tend to have a combination of these offers. You might see, for example, a $200 bonus after spending $500 in the first three months, along with 12 months of 0% intro APR.

5. Compare cardholder benefits

Other than monetary rewards like cash back and gift cards, some cards offer an array of benefits that can include travel insurance and purchase protection.

A seemingly small additional benefit such as cell phone protection can be the one distinguishing factor between two cards. Make sure you look at sections breaking down all the services provided, normally titled “Service & Protection.”

You may also find luxury travel benefits included with the card such as priority boarding, restaurant reservations or airport lounge access.

6. Compare interest rates

A couple of percentage points in interest rates can make a huge difference in the long run. Make sure to look at and compare regular and variable APRs — that is, the rate you’ll be charged after any promotional introductory period is over — to know what to expect.

Cash back cards vs. travel cards

Travel benefits are big reasons people want rewards cards. However, travel cards normally use points or miles instead of cash back. The cards with the most benefits can also be quite expensive, with annual fees ranging from $95 to $695. These typically require excellent credit too.

However, cash back options — especially no-annual fee cards — can be more versatile while still offering good benefits for traveling. For example, the Chase Freedom Unlimited® and Chase Freedom Flex℠ offer 5% when booking travel through Chase Ultimate Rewards®, as well as flight cancellation insurance.

If you’re looking for top-notch perks like statement credits for TSA PreCheck® or access to luxury lounges, check out our articles on the best travel credit cards and the best airline credit cards.

Latest News in Cash Back Credit Cards

• As credit card usage increases, prices may increase too due to high merchant fees. A recently proposed bill aims to lower these fees, but could impact reward programs. Ready more about it in Could This New Credit Card Bill in Washington Hurt Your Miles and Points?

• Some people may have credit cards just laying around, whether it’s because they have a better one or they just have it to boost their credit. However, inactive credit cards could get closed by issuers and impact your credit utilization ratio. For more details, read our article: Will Credit Card Companies Actually Close Your Account if You Don’t Use Your Card?

How We Chose the Best Cash Back Credit Cards

In order to find the best cash back credit cards for each situation and lifestyle, we used the following methodology:

• Cash back rates: We looked at cash back percentages on all purchases, bonus categories and other offers available for each card. Depending on the usefulness of each category, the spending limits, if any, and base rate cash back, we calculated the possible earning rate to see how competitive each card is.

• Trustworthiness: There are a lot of options out there in terms of credit cards, but not all come from well-known and trustworthy issuers. We looked at the JD Power 2022 Credit Card Satisfaction Study℠, as well as reviews on other third-party websites, to see which U.S. banks and issuers did right by their customers.

• Introductory offers: Intro offers are a big deal when applying for a new card. We looked at issuers that offer high welcome bonuses and/or long-term 0% introductory APR on purchases, as well as any of their intro balance transfer promotions.

• Extra benefits: Most cards have ways of protecting users from fraud, but some have additional protection such as extended warranties, rental car insurance and flight cancellation coverage. Many cash back cards are lacking in this category, so those that offer solid protection had a leg up on their competition.

Summary of Money’s Best Cash Back Credit Cards of 2023

• Chase Freedom Unlimited® — Best with No Annual Fee
• Blue Cash Preferred® Card from American Express — Best for Groceries
• Ink Business Cash® Credit Card — Best for Business
• Bank of America® Customized Cash Rewards Credit Card — Best for Custom Categories
• Capital One Savor Credit Card — Best for Dining
• Capital One SavorOne Cash Rewards Credit Card - Best for Dining with No Annual Fee
• Alliant Cashback Visa® Signature Credit Card — Highest Cash Back Rate
• Chase Freedom Flex® — Best for Rotating Categories
• TD Double Up℠ Credit Card — Best Flat Rate
• Sam’s Club® Mastercard® — Best for Gas
• Prime Visa— Best for Retail
• Other cash back credit cards we considered

To see rates and fees for the Blue Cash Preferred® Card from American Express, visit this link. Terms apply.

* Insurance disclosures for American Express Cards on this page:

Trip Delay Insurance: Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by New Hampshire Insurance Company, an AIG Company.

Global Assist Hotline: Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Card Members are responsible for the costs charged by third-party service providers.

Extended Warranty, Purchase Protection, Baggage Insurance Plan: Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company.

Car Rental Loss & Damage Insurance: Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.