All of these credit cards give 5% cash back, or more, on certain expenses. Some of those categories may change quarterly or yearly, require activation and usually have a cap. There’s never been a general-purpose credit card that rewards users with 5% cash back on all purchases.
The best 5% cash back credit card is Discover it Cash Back, but there are several other notable choices including Chase Freedom Flex and some store credit cards. Discover it and Chase Freedom Flex both offer 5% cash back in specified bonus categories, which change every quarter, plus 1% back on most other purchases (though Flex has a couple other 5% categories, too). And store cards can only be used at the retailers they’re tied to, but if you shop there often, why not get 5% cash back?
The best unlimited cash back credit card is the Citi Double Cash Card because it gives 2% cash back on all purchases with no spending limit and no earning cap. Cardholders earn 1% cash back at the point of sale and an additional 1% when paying the bill.
An unlimited cash back credit card gives cash back rewards on all purchases, with no caps on the amount you can earn. On many cards, but not all, cash back rewards also never expire. Many unlimited cash back credit cards offer additional perks and features. So, you can shop around for things like an initial bonus or a 0% APR along with your unlimited cash back earnings.… read full answer
There are also some cash back credit cards that offer unlimited rewards in specific spending categories but not others.
You will need good or excellent credit to qualify for many of the best unlimited cash back credit cards. However, there are worthwhile cards available for students and people with average credit, too. Even people with bad credit can find cards with unlimited 1% cash back on all purchases.
An unlimited cash back credit card is ideal for everyday spending and can save you hundreds of dollars every year. But be careful not to overspend on your card for the sole purpose of earning cash back. If you carry a balance or are unable to make payments, the interest changes and any late fees can quickly cancel out any cash back rewards you’ve earned.
It’s also useful to note that on all of the best unlimited cash back credit cards aside from the Citi Double Cash Card and the Alliant Cashback Visa® Signature Credit Card, rewards never expire as long as the account is open. On the Citi Double Cash Card, they expire after 12 months of no activity (no purchases or payments made). On the Alliant Cashback Visa® Signature Credit Card, they expire if they’re not redeemed after 4 years.
Yes, 1.5% cash back is good for a credit card’s rewards rate. A 1.5% cash back rate is much higher than the average cash back rewards rate among credit cards, and it should be the starting point for anyone in the market for a flat-rate cash back card.
One of the best 1.5% cash back credit card is … read full answerCapital One Quicksilver Cash Rewards Credit Card. In addition to 1.5% cash back on all purchases, this card has a $0 annual fee, and offers an initial bonus of $200 for spending $500 in the first 3 months. Plus, Capital One Quicksilver comes with an introductory APR of 0% for 15 months on new purchases. Its regular APR is 15.49% - 25.49% (V).
Ultimately, you might want to check out our editors’ latest picks for the best cash back credit cards on the market. These cards give at least 1.5% cash back on purchases, along with $0 annual fees, initial bonus offers, or 0% APR promotions. Whichever card you choose, be sure to pay the balance in full each month. Otherwise, you’ll risk interest charges wiping out your hard-earned cash back rewards.
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