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Here Are the Last 3 Cash Back Cards You’ll Ever Need for Everyday Purchases!

Here Are the Last 3 Cash Back Cards You’ll Ever Need for Everyday Purchases!

JasonHere Are the Last 3 Cash Back Cards You’ll Ever Need for Everyday Purchases!Million Mile Secrets Team

Cash back rewards are the easiest to redeem.  Because you don’t have to worry about blackout dates or award seat availability.  And on top of that, when you redeem cash back for travel, you’ll earn miles and points at the same time!

Here Are The Last 3 Cash Back Cards Youll Ever Need For Everyday Purchases
Lots of Folks Love Earning Cash Back Because It’s the Simplest Reward to Redeem!

Million Mile Secret Agent Jay asked via email:

 Which credit card is the best for cash back on all purchases?

Lots of folks love earning cash back because it’s easy to know exactly how much you are earning.  And you don’t have to worry about whether or not you can book the travel you want.

Some cash back cards earn bonus points for certain purchases.  And other cards, like the Chase Freedom or Discover It® cards, have bonus categories that change quarterly.

I’ll help you decide!

Best Cash Back Cards for Everyday Spending

Some folks don’t want the hassle of deciding which credit card to use every time they make a purchase.  And if you’re looking for one card to use for earning cash back all your purchases, here are 3 great options!

1.   Citi Double Cash Card

Link:   Citi® Double Cash Card

Link:   My Review of the Citi Double Cash Card

You’ll earn 1% cash back on all purchases you make with the Citi Double Cash card.  And you’ll earn an additional 1% cash back when you pay for those purchases, as long as you make the minimum payment each month.  But there are some restrictions:

  • You will NOT earn cash back on credit card feesinterestcash advancesmoney orders, and balance transfers
  • Cash back expires if there is no activity on your card for 12 months

The card has no annual fee and no sign-up bonus.  But you can still earn a lot.  If you spend $650 a month for your car payment, insurance, and groceries, that’s $7,800 a year ($650 X 12 months).  And you would earn $156 in cash back ($7,800 yearly expenses X 2%) from a card that’s free to keep!

You can redeem your cash back for gifts cards, a statement credit, or have it mailed as a check.  And the minimum redemption amount is $25.

2.  Bank of America Premium Rewards Credit Card

Link:   Bank of America® Premium Rewards® Credit Card

Link:   My Review of the Bank of America Premium Rewards Card

The Bank of America Premium Rewards card currently comes with 50,000 bonus points after you spend at least $3,000 on purchases in the first 90 days of account opening.  The card also comes with:

  • 2 points per $1 spent on travel and dining purchases
  • 1.5 points per $1 spent on all other purchases
  • $100 airline incidental credit (per calendar year)
  • $100 Global Entry or TSA PreCheck credit (once every 4 years)
  • NO foreign transaction fees
  • $95 annual fee, NOT waived the first year

Each point is worth 1 cent.  And you can redeem rewards for a statement credit, as a deposit into a Bank of America or Merrill Lynch account, gift cards, or travel purchases through the Bank of America travel center.  You’ll need to redeem at least 2,500 points ($25) at a time.

Here Are The Last 3 Cash Back Cards Youll Ever Need For Everyday Purchases
If You Already Have a Bank of America or Merrill Lynch Account, You Could Have More Rewards Coming Your Way!

This is a great card for folks who already have Bank of America accounts.  Because you can earn even more if you’re a part of the Bank of America Preferred Rewards Program.  Based on the amount of money you have in your Bank of America account or have invested with Bank of America or Merrill Lynch, you’ll earn:

  • Preferred Rewards Gold members with $20,000 to $50,000 in assets – 25% bonus
  • Preferred Rewards Platinum members with $50,000  to $100,000 – 50% bonus
  • Preferred Rewards Platinum Honors members with $100,000 or more – 75% bonus

If you are a Preferred Rewards Platinum Honors member, you’ll earn ~2.62 points per $1 (1.5 points per $1 + 75% bonus) on all purchases.  But you will need to register to qualify for the bonus.

3.   US Bank Fidelity Rewards Visa Signature Card

Link:   US Bank Fidelity Rewards Visa Signature Card

Link:   My Review of the US Bank Fidelity Rewards Visa Card

You’ll earn 2% cash back on every purchase you make with the US Bank Fidelity Rewards Visa card.  And there is no limit to the amount of cash back you can earn.  This card has no sign-up bonus.  But you don’t have to worry about an annual fee either.

You can deposit your rewards into eligible Fidelity accounts including, but not limited to:

  • Traditional IRA
  • Roth IRA
  • Fidelity Charitable Giving Account
  • Fidelity HSA
  • Fidelity-managed 529 College Savings Plan accounts

The cash back is earned as points.  You’ll earn 2 points per $1 spent and each point is worth 1 cent.  You can deposit your rewards into more than 1 account.  But you’ll need to redeem at least 5,000 points ($50) at a time.

Team member Harlan loves using the cash back he earns with his US Bank Fidelity Rewards Visa to save for retirement.

Bottom Line

If you’re looking to simplify your credit card rewards, earning cash back is a great option!

You could earn 2% cash back on every purchase you make with the Citi Double Cash (1% at purchase & 1% upon payment) or US Bank Fidelity Rewards Visa cards.

But if you have a lot of money invested with Bank of America or Merrill Lynch, the Bank of America Premium Rewards card can earn you even more.  Because with the Bank of America Preferred Rewards Program you could earn up to a 75% bonus on top of the 1.5 points per $1 you’ll already get on all purchases.

What’s your favorite cash back card?

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SimplyCash® Plus Business Credit Card from American Express

SimplyCash® Plus Business Credit Card from American Express

  • Special Offer: Earn up to $500 cash back
  • Earn a $250 statement credit after you spend $5,000 in qualifying purchases on your Card within the first 6 months of Card Membership.
  • Plus, earn an additional $250 statement credit after you spend an additional $10,000 or more in qualifying purchases on your Card within the first year of Card Membership.
  • No Annual Fee. Plus, more buying power and more cash back. Get cash back on business purchases, even those above your credit limit.
  • 5% cash back on wireless telephone services purchased directly from U.S. service providers and U.S. office supply stores.
  • 3% on the category of your choice from a list of eight and 1% cash back on other purchases.
  • 5% and 3% apply to the first $50,000 in purchases per calendar year, then 1% applies thereafter. Cash back received is automatically credited to your statement.
  • Terms and limitations apply
  • See Rates & Fees
Terms Apply | Rates & Fees

More Info

Editorial Note: We're the Million Mile Secrets team. And we're proud of our content, opinions and analysis, and of our reader's comments. These haven’t been reviewed, approved or endorsed by any of the airlines, hotels, or credit card issuers which we often write about. And that’s just how we like it! :)

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PenFed is 2% cashback for HonorsAdvantage members and redemptions start at $5! No annual fees and no foreign transaction fees. $100 Statement Credit when you spend $1,500 in the first 90 days. US customer service agents and they easily comprehend any issues or questions. Moved credit around 3 cards in 5 minutes - incredible. I've been on hold for 3-4x longer with BofA and no one ever picked up even as a Preferred member.

Million Mile Secrets

That sounds like a great card! And I'm not sure you'll beat that kind of service with any bank. Thanks for sharing!

Excluded:

1. Capital One Quicksilver, 1.5% unlimited cash back, no AF, $150 sign-up bonus.

2. Capital One VentureOne, 1.25% unlimited cash back, no AF, 20,000 sign-up bonus "miles" which can be used for $200 travel expenses.

Million Mile Secrets

Those are definitely 2 good no annual fee cash back cards.