Rewards Credit Cards

The best 2% cash back credit card is Citi Double Cash. It gives unlimited 2% cash back on purchases, 1% when you buy something and another 1% when you pay for it. And there’s no annual fee. Plus, the card offers a 0% APR for 18 months on balance transfers with a 3% fee. You will need good credit to be approved for this card.

But there are several other great 2 percent cash back credit cards to consider when shopping for the best deal.

Here are the best 2% cash back credit cards:

• 2% cash back on all purchases: Citi Double Cash.
• 2% cash back at grocery stores and wholesale clubs: BankAmericard Cash Rewards for Students.
• 2% cash back at Costco: Costco Anywhere Visa.
• 2% cash back at gas stations and select department stores: Amex Blue Cash Everyday.
• 2% cash back on $1,000 in restaurant and gas station purchases per quarter: Discover it Chrome.

At the end of the day, Citi Double Cash is the best 2% cash back credit card because it offers an unlimited 2% cash back rate on all purchases. Most 2% cash back credit cards put a cap on the amount you can earn with 2%+ rates. Or they only give the rate on certain categories of purchases.

Many of these 2% cash back credit cards offer some other great features in addition to their 2% cash back rates. For example, Citi Double Cash gives a 0% APR on purchases and balance transfers for 18 months. BankAmericard Cash Rewards for Students offers 3% cash back on gas – but its 2% and 3% cash back rates only apply to your first $2,500 spent in those categories combined.
Similarly, the Costco Anywhere Visa gives 4% cash back on your first $7,000 spent per year on gas, and 3% back on restaurants and travel. Blue Cash Everyday offers 3% cash back on your first $3,000 spent at supermarkets, along with a 0% APR for 15 months on purchases and balance transfers. Discover it Chrome matches your first year’s cash back and gives you a 0% APR on purchases and balance transfers for 14 months.
And to top it off, none of these cards have annual fees.

The best 5% cash back credit card is Discover it – Cashback Match, but there are several other notable choices including Chase Freedom and some store credit cards. Discover it and Chase Freedom both offer 5% cash back in specified bonus categories, which change every three months, plus 1% on everything else. 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? Let’s take a closer look at your choices.

Here are the best 5% cash back credit cards:

• Discover it – Cashback Match: 5% cash back on the first $1,500 spent in the quarter’s purchase categories, 1% on everything else. No annual fee. First year’s cash back matched at the end of the year. Requires good credit.
  
• Chase Freedom: 5% cash back on the first $1,500 spent in the quarter’s purchase categories, 1% on everything else. $150 initial bonus after spending $500 in the first 3 months. Requires excellent credit.
  
• Amex Cashback Rewards Plus: 5% cash back on $5,000 in gas and military purchases each year, 2% on the first $3,000 at supermarkets per year, unlimited 1% on everything else. Requires good credit.
  
• Amazon Store Card: 5% cash back on all Amazon purchases for Amazon Prime members only. No annual fee. Requires fair credit.
  
• Target REDcard: 5% cash back at Target and Target.com. No annual fee. Requires fair credit.
  
• Lowe’s Store Card: 5% cash back at Lowe’s. No annual fee. Requires fair credit.
  
• Staples Credit Card: 5% cash back at Staples. No annual fee. Requires fair credit.

There are even more store cards that offer 5% cash back rates, so it’s worth looking into what your favorite retailers bring to the table. Pretty much all store credit cards only require fair credit to get, too. But for overall value, Discover it – Cashback Match is your best bet for a 5% cash back credit card because it actually gives you up to 10% back the first year. You need good credit, though. 

Nah, it's usually 5 or 6% max. I think there was a promotion by Amex once, but it's gone now.

Well, it does make a difference. If you opt for cash back, you're getting money directly from your spends. On the contrary, if you choose a card for points or miles, you can convert them as per your requirement. If you travel a lot, miles will do better for you.

Well, cash back is generally better, I mean you get money. Miles or points or whatever can change their value. With that said, if you travel a lot, rent cars, get plane tickets and stuff, then miles usually have a better conversion rate than just getting a check.