An important thing to consider when choosing which card is right for you is how much cash is earned per every dollar spent, and whether it is possible to earn enough cash back to recoup the cost of carrying the credit card. Most of today’s cash back credit cards offer 1% to 2% cash back on purchases. Don’t forget, in order to maximize your earning potential, you should pay your balance in full each month to avoid paying any interest.
1. Bank of America Cash Rewards™ Credit Card: Bank of America Cash Rewards™ Credit Card: Perfect for everyday expenses
The Bank of America Cash Rewards™ credit card is a terrific cash back credit card if you have accounts with Bank of America or Merrill Lynch and do not want to deal with rotating categories. This card rewards you for everyday purchases and provides added bonuses if you have a Bank of America® checking or savings account. While it might not have the as high reward percentages as other cash rewards cards, it can still get you a solid 2% at grocery and wholesale stores and 3% on gas purchases on up to a combined $2,500 per quarter and 1% on every other purchase. The real benefit of this card is the 10% to 75% rewards bonus you can get when you redeem your cash rewards into Bank of America® checking, savings, or eligible investment accounts.
- No annual fee
- $150 online cash rewards bonus after you spend at least $500 on purchases in the first 90 days of account opening
- Earn 1% cash back on every purchase, 2% at grocery stores and wholesale clubs, and 3% on gas for the first $2,500 in combined grocery/wholesale club/gas purchases each quarter
- No changing categories and no expiration on rewards
- 0% Introductory APR for 12 billing cycles for purchases AND for any balance transfers made in the first 60 days, then, 14.24% - 24.24% Variable APR. 3% fee (min $10) applies to balance transfers
- Get a 10% customer bonus every time you redeem your cash back into a Bank of America® checking or savings account
- If you're a Preferred Rewards client, you can increase that bonus to 25% - 75%
2. Barclaycard CashForward TM World Mastercard®: Rewards Never Expire
The Barclaycard CashForward TM World Mastercard® is one of Barclaycard's newest credit card offerings to hit the market. Barclays, a London-based bank, has had enormous success in the US in recent years and continues to provide excellent credit card products. The CashForward TM World Mastercard® is no exception. Not only do customers earn 1.5% cash back on every purchase, but the rewards they earn never expire. In addition, Barclaycard will give you $200 simply for opening an account and spending $1000 in the first 90 days. This card also offers 0% on balance transfer for 15 months, so you can consolidate any outstanding debt if you choose to do so, for no additional cost. This card is perfect for anyone looking to get some extra rewards from purchases they already make.
3. Citi® Double Cash Card: Citi® Double Cash Card: The easiest way to earn
Most people want a cash rewards credit card because they're the simplest of all the rewards cards. You don't have to juggle air miles trying to avoid blackout dates and you don't have to redeem your rewards with one hotel chain or airline. The concept behind the cash back cards are simple, swipe your card, get cash back. The Citi® Double Cash Card is the epitome of effortless. Customers get 1% cash back every time they swipe their card and another 1% when the credit card statement is paid. It's that simple. In addition, the Citi® Double Cash Card doesn't have category restrictions, it doesn't have reward caps and there are no rotating categories. As an added bonus, this card doesn't have annual fee either!
- Earn cash back twice on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
- Balance Transfers do not earn cash back
- 0% Intro APR on Balance Transfers for 18 months. After that, the variable APR will be 14.74% - 24.74% based on your creditworthiness*
- Click 'Apply Now' to see the applicable balance transfer fee and how making a balance transfer impacts interest on purchases.
- No categories to track, no caps on cash back, no annual fee*
If you'd like to see all of our Cash Back Rewards Credit Cards, Click Here.