5 Excellent No Annual Fee Cash Back Cards

5 Excellent No Annual Fee Cash Back Cards

Million Mile Secrets5 Excellent No Annual Fee Cash Back CardsMillion Mile Secrets Team

Disclosure: We get a commission for links on the blog. You don’t have to use our links, but we’re very grateful when you do. American Express, Capital One, Chase, and US Bank are Million Mile Secrets advertising partners. Opinions expressed here are the author's alone, and have not been reviewed, approved or endorsed by our partners.

Million Mile Secrets reader, Lindsay, tweeted:

I have a Chase Sapphire Preferred card, but would like to get a new card to earn cash back.  Do you have any recommendations?

Many folks like to pair their miles and points rewards cards with a cash back alternative.  Because it’s easy to redeem cash back rewards.  And it’s always nice to have a little extra cash in hand.

Although miles and points can be worth more depending on the award, the benefit of cash back rewards is they won’t fluctuate in value.  So you’ll always know what you’re earning!

5 Excellent No Annual Fee Cash Back Cards
Miles & Points Credit Cards Are the Best Option for Folks Who Want Big Travel With Small Money. But There’s Room in Your Wallet for Cash Back Cards Too!

I’ll share 5 picks for folks looking to get a cash back card.

Emily and I don’t earn a commission for any of these cards, but we’re committed to always sharing the best deals with you!

5 Excellent No Annual Fee Cash Back Cards

Link:   Hot Deals

I know lots of folks who only use cash back cards because they don’t travel enough to benefit from miles and points rewards.

Other folks like to use cash back cards in addition to miles and points cards for non-bonus spending.  For things like doctor visits, auto repairs, utility services, home improvements, and tax payments.

5 Excellent No Annual Fee Cash Back Cards
Online Shoppers Might Like Cash Back Cards Because the Rewards Give You a Built-In Discount on Purchases!

And many cash back cards have no annual fee!  So they’re free to keep forever and can potentially help increase your credit score.

The best cash back card will depend on your spending habits.  But you should consider factors like:

  • Sign-up bonus
  • Bonus categories (like wholesale clubs, Amazon, etc.)
  • Minimum threshold for getting cash back
  • Foreign transaction fees

Here are 5 picks for folks considering a no annual fee cash back card!

1.   Chase Freedom Unlimited

Link:   Chase Freedom Unlimited

Link:   My Review of the Chase Freedom Unlimited

With the Chase Freedom Unlimited, you can earn a sign-up bonus of $150 cash back after you spend $500 within the first 3 months of account opening.

You’ll also earn 1.5% cash back (or 1.5 Chase Ultimate Rewards points) per $1 on all purchases with no limit. 

The best part of the Freedom Unlimited is you’ll have flexibility to use the rewards beyond just cash back.

Because you can transfer the Chase Ultimate Rewards points you earn from the card to another card, like the Sapphire Preferred or Sapphire Reserve, and then to Chase’s travel partners.

5 Excellent No Annual Fee Cash Back Cards
Keep Your Options Open With the Freedom Unlimited. You Can Redeem Rewards for Cash Back or Combine Points With Other Chase Ultimate Rewards Cards to Book Travel on Partners Like United Airlines!

Keep in mind, you’ll be unable to get approved for most new Chase cards if you’ve opened ~5 or more credit cards (from any bank) in the past 24 months (excluding certain business cards).

The biggest downside of this card is the ~3% fee for purchases overseas.

2.   Discover It

Link:   Discover It

Link:   Up to 10% Cash Back With the Discover It Card for the 1st Year!

With the Discover It card, you’ll get $50 cash back after you make your first purchase within 3 months of account opening when referred by an existing card member.  This includes our link.  🙂

And this card earns you 1% cash back on every purchase and 5% cash back (on up to $1,500 in purchases each quarter) on rotating categories (when you register).

New applicants can earn lots of cash back with this card because the total cash back you earn is matched after the 12th billing cycle.  

This means you effectively earn 10% back on bonus categories and 2% back on everything else during the first year of card membership.

5 Excellent No Annual Fee Cash Back Cards
New Cardholders Can Earn up to 10% Cash Back in Quarterly Bonus Categories With the Discover It!

This card is a great option for folks who spend a lot in the quarterly bonus categories, which previously included wholesales clubs and Amazon!

And there are no foreign transaction fees.  But keep in mind Discover cards are not as widely accepted as other cards.

3.   Discover It Miles

Link:   Discover it Miles

Link:   My Review of the Discover it Miles

Discover it Miles is similar to the Discover It card.  Although it’s not advertised as a cash back card, the “miles” you earn can be used as statement credits toward travel expenses (within the past 180 days), or for cash deposited to your bank account.

5 Excellent No Annual Fee Cash Back Cards
The Rewards You Earn With the Discover It Miles Card Can be Redeemed for Cash and Transferred to Your Bank Account!

There’s no sign-up bonus with this card, but you earn 1.5 miles per $1 you spend (worth 1.5% back) on all purchases.

And just like the Discover It, new cardholders get their miles doubled at the end of the first 12 billing cycles.  So that’s effectively 3% back on all purchases!

This card also has no foreign transaction fees.

4.   Fidelity Rewards Visa Signature Card

Link:   Fidelity Rewards Visa Signature Card

Link:   My Review of the Fidelity Rewards Visa Signature Card

The Fidelity Rewards Visa Signature card has no sign-up bonus, but it has one of the simplest reward programs.

You earn 2% cash back on all purchases with no limits on rewards.

But you’ll need an eligible Fidelity account to get the full 2% cash back rewards.

You can also enjoy the perks of the Visa Signature program like access to once-in-a-lifetime experiences and complimentary 24-hour concierge services.

This card has a 1% foreign transaction fee.  That’s much lower than most cards, but it’s still an added charge.

5.   Citi Double Cash

Link:   Citi Double Cash Card

Link:   My Review of the Citi Double Cash

The Citi Double Cash doesn’t offer a sign-up bonus.  But you can earn 1% cash back on all purchases and 1% cash back on all payments.  

This card also comes with Citi Price Rewind where Citi will track your purchases over the last 60 days and refund the price difference if they find a lower price (you must register your purchases).

5 Excellent No Annual Fee Cash Back Cards
You Can Use the Citi Price Rewind Perk With the Citi Double Cash Card to Get a Refund on Purchases If the Prices Drops Within 60 Days

This is a good card for folks who want to earn straightforward cash back rewards.

But it’s not good to use overseas because you’ll pay 3% in foreign transaction fees.

Bottom Line

In addition to miles & points cards, some folks like to keep no annual fee cash back credit cards in their wallets.  Because it’s easy to redeem cash back rewards.  And it never hurts to have a little extra cash!

You can consider cards like the Chase Freedom Unlimited, which has a $150 sign-up bonus after meeting minimum spending requirements and unlimited 1.5% cash back on all purchases.

Or the Discover It card, which offers 1% cash back on every purchase and 5% cash back (on up to $1,500 in purchases each quarter) on rotating categories (when you register).  And for new cardholders, the total cash back you earn is matched after the 12th billing cycle.

Emily and I don’t earn a commission on any of these cash back cards, but we always tell you the best ways to earn rewards!

If you liked this post, why don’t you join the 25,000+ readers who have signed-up to receive free blog posts via email (only 1 email per day!) or in an RSS reader …because then you’ll never miss another update!

Chase Sapphire Preferred® Card

Chase Sapphire Preferred® Card

  • Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $625 toward travel when you redeem through Chase Ultimate Rewards®
  • Chase Sapphire Preferred® named a 'Best Travel Credit Card' by MONEY® Magazine, 2016-2017
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Earn 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months from account opening
  • No foreign transaction fees
  • 1:1 point transfer to leading airline and hotel loyalty programs
  • Get 25% more value when you redeem for travel through Chase Ultimate Rewards. For example, 50,000 points are worth $625 toward travel.
  • No blackout dates or travel restrictions - as long as there's a seat on the flight, you can book it through Chase Ultimate Rewards

More Info

Editorial Disclaimer: Neither the editorial content nor the comments on this site are provided by the companies whose products are featured. Any opinions, analyses, reviews or evaluations provided here are those of the author's alone, and have not been reviewed, approved or otherwise endorsed by the Advertiser.

Add comment

E-mail is already registered on the site. Please use the Login form or enter another.

You entered an incorrect username or password

Sorry, you must be logged in to post a comment.