All of these credit cards give 3% cash back, or more, on some types of purchases. There is no credit card currently on the market that gives 3% cash back on all purchases. The best flat-rate cash back credit cards typically give 2% cash back on all purchases.
Overall, the best credit card that gives at least 3% cash back in major spending categories is the Blue Cash Preferred® Card from American Express. It offers 6% cash back at U.S. supermarkets (up to $6,000 spent per year), 6% back on select U.S. streaming subscriptions, 3% back at U.S. gas stations and on transit, and 1% back on all other purchases, earned as statement credits. In addition, cardholders can earn a $250 statement credit for spending $3,000 in the first 6 months. Blue Cash Preferred has an intro annual fee of $0 in the first year and $95 after.
Currently, there aren’t any major credit cards that offer 3% cash back on all purchases, but there are many that offer it for certain purchase categories. Below are some top cards that offer at least 3% cash back.
The way 3% cash back works is simple: You make purchases on your card, and then rewards equaling 3% of those purchases appear in your account, which can sometimes take one to two billing periods. For example, if you spend $1,000 on purchases eligible for 3% cash back, you get $30 in rewards. Then, you can usually redeem that cash back as a statement credit or a deposit to a bank account, and sometimes for a check. Some issuers might even let you redeem your cash back directly for gift cards, travel or merchandise.
It’s important to note that some credit cards that are advertised as cash back cards actually give rewards in the form of points. However, you’ll be able to trade those points for cash back, usually at a rate of 1 point = 1 cent.
Credit Cards With Other Cash Back Rates
Although there are plenty of good credit cards out there that offer 3% cash back on some purchases, there are also cards that offer even higher percentages of cash back for various purchase categories. Plus, there are cards that offer up to 2% cash back on all purchases, which may be a better deal depending on your spending habits.
You can get 5% cash back by applying for a credit card such as Chase Freedom Flex℠ that offers 5% cash back on certain types of purchases. Then, you will need to use the card for purchases in the eligible spending categories, and you will receive 5 cents back for every $1 you spend on eligible purchases.… read full answer
Unfortunately, there are no general-purpose credit cards that offer 5% cash back on all purchases. But the good news is there are quite a few cards that offer 5% cash back in popular spending categories.
The only credit cards that offer 5% cash back on everything are store credit cards, such as the Target Credit Card or the Kohl’s Credit Card, that can only be used at a specific retailer. When it comes to rewards cards that can be used anywhere, quite a few offer 5% cash back on certain purchases but not on everything. Among the best credit cards for 5% cash back on select purchases are Chase Freedom Flex, U.S. Bank Cash+ Visa Signature, Chase Ink Business Cash and the Amazon.com Credit Card.… read full answer
Best Credit Cards with 5% Cash Back:
Chase Freedom Flex: 5% cash back on the first $1,500 spent per quarter in rotating categories. Unlimited 5% cash back on travel purchased through Chase.
U.S. Bank Cash+ Visa Signature: 5% cash back on the first $2,000 in combined purchases in two categories of your choice each quarter.
Chase Ink Business Cash: 5% cash back on the first $25,000 spent on telecom services and office supplies each year.
USAA CashBack Rewards Plus American Express: 5% cash back on the first $3,000 per year in combined gas and military-base purchases.
Amazon.com Credit Card: 5 points per $1 spent on Amazon.com and Whole Foods Market purchases (equivalent to 5% cash back) for Amazon Prime members.
Walmart Rewards Mastercard & Walmart Store Card: 5% cash back on all Walmart.com purchases. 5% cash back on in-store Walmart purchases made with the card through Walmart Pay during the first year.
Target Credit Card: 5% back on all Target purchases.
Kohl’s Credit Card: 5% back on all qualifying purchases at Kohl’s.
As you can see, there are a lot of good 5% cash back credit card offers available; they’re just not offering 5% for everything. But even getting 5% back on some purchases can be extremely lucrative.
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