When it comes to credit cards, seasoned borrowers may worry about how many to have, but those who are new to them or would rather concentrate on just one card may have different concerns. Finding the finest credit cards for cash back is frequently a focus while sorting through pre-approved credit card offers or researching possibilities independently.
There are many different types of cashback programs, and some are more beneficial financially than others. Finding the best cashback card should be your priority because getting the best deal is one of the best credit card usage advice. If you don’t know where to start, take a look at the top 10 credit cards for cash-back rewards. The offers and rates listed below are intended to provide you with a broad idea of the features and advantages of the cards but keep in mind that they are subject to change at the discretion of each organization.
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1. Chase Freedom Unlimited
One of the top credit cards for cash back available is Chase Freedom Unlimited, which has no annual fee. In your first year, you receive 1.5% cash back on all purchases (up to $20,000) in addition to up to 6.5% cash back on certain purchases. Furthermore, since you can use your cash back at any time, there are no requirements for minimum redemption quantities.
The interest rate is variable and typically falls between 17.24 and 25.99%. Because of this, using this card to carry a balance isn’t recommended. However, if you’re often on the go, it can be worthwhile to take into account the larger cash back on travel purchases through the Ultimate Rewards program.
2. Wells Fargo Active Cash
Wells Fargo Active keeps things straightforward with a flat 2% cash-back rate and is another card without an annual fee. This is advantageous since it removes the need for you to remember any classifications. Additionally, if you pay your account with the card, you’ll receive benefits like cellphone coverage of up to $600.
It is not the best option for carrying a balance because the variable APR is higher than what you find with certain alternatives (17.24, 22.24, or 27.24%). However, the introductory APR is 0% for the first 15 months of card ownership, and there are also 0% APRs on transfers during that time.
3. Citi Double Cash
With the Citi Double Cash credit card, you may receive 1% cash back on purchases and an additional 1% cash back when you pay them off. This card’s versatility allows it to be used for anything you might buy, saving you the trouble of keeping track of several categories. There is also no annual charge.
The variable APR for this card ranges from 16.24 to 26.24%, which makes it somewhat pricey if you carry a debt. Additionally, unlike other cards, this one requires at least $25 in cash back before you can redeem.
4. Amex Blue Cash Preferred
Despite the $95 annual fee, this card’s high reward percentage might make it worthwhile. Earn 3% on purchases of groceries, certain streaming services, gas, and public transportation (up to $6,000) and 1% on all other purchases. Additionally, you can benefit from the Pay It Plans features, which let you set up fixed monthly payments to avoid the standard APR.
With a variable APR ranging from 16.24 to 27.24%, it is not advisable to carry a balance. Additionally, paying the annual fee could be challenging if you don’t spend much money on groceries. A different option would be preferable unless you frequently buy food.
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5. Chase Freedom Flex
With Cash Freedom Flex, you can receive cashback of up to 5% on up to $1,500 in purchases in a few different categories. Additionally, there is no annual charge and the Ultimate Rewards program offers more cashback choices. There are no time limits or minimum redemption amounts for cash back.
If you’re carrying a balance, the variable APR ranges from 17.24 to 25.99%, which is hefty. There may be quarters when none of your spending categories are in regions where you spend a lot of money since you aren’t given the option to choose them.
