Citi Double Cash is the best cash back Mastercard because it offers unlimited 2% cash back on all purchases. That’s 1% for each purchase and an additional 1% after paying them off. Double Cash also has a $0 annual fee. The only drawbacks are that cash back expires if there’s no activity on the card for a year, and the card requires good credit (700+) to get.
But cash back Mastercards are not one-size-fits-all. The best option for you personally depends on what kind of credit you have, what you spend your money on and how much you spend. Fortunately, Mastercard has some pretty great cash back options for every credit level. For example, Capital One QuicksilverOne Cash Rewards offers unlimited 1.5% cash back on all purchases and is designed for people with limited or fair credit. The annual fee is $39. If you have bad credit, you can get approved for the SunTrust Secured Credit Card. It gives a pretty solid cash back deal: 2% cash back on your first $6,000 spent annually on gas and groceries, and 1% on everything else. You will have to pay a $32 annual fee, though.
If you want a good initial bonus, consider the Bank of America Cash Rewards card. It gives $200 for spending $1,000 within the first 90 days your account is open.
Finally, it’s worth noting that when you get a cash back Mastercard, you get all the benefits provided by the network. That includes global acceptance and other perks like rental car insurance.