We’ve Ranked the 7 Best Cashback Credit Cards!

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We’ve Ranked the 7 Best Cashback Credit Cards!

JasonWe’ve Ranked the 7 Best Cashback Credit Cards!Million Mile Secrets Team

We devote thousands of hours of research to help you get Big Travel with Small Money. You support us by signing-up for credit cards through partner links which earn us a commission. Here’s our full Advertising Policy.

When it comes to credit card rewards, it doesn’t get any simpler than earning cash back.  With a cash back card, you’re getting a discount just for using a credit card!  But if you’re not using the credit card with best cash back rewards for your spending habits, you’re missing out on free money.

For example, you can get a credit card that earns bonus rewards on supermarket or restaurant purchases.  And there are even cashback rewards cards for folks with less than excellent credit.  So there’s no reason you can’t find the best cashback credit card for your particular situation!

Earn Quick and Easy Rewards on Your Everyday Purchases With These Top Cashback Credit Cards!

In this post, we’ll review the best personal credit cards for earning cash back.  If you’re looking for the best cash back business credit cards, we’ll have an article reviewing those cards published soon.

Looking for the Best Cash Back Credit Card?

If you’re in the market for anything from a big cash bonus to 6% cash back on your groceries, there’s a card for you!  But with so many options, it can be hard to make a choice.  So we’ve distilled the best credit cards for cash back down to a handful of easy to understand categories.

Here Are the Best Cashback Credit Cards

How We Chose the Best Credit Cards for Cashback

Do a quick search for “what is the best cash back credit card” and you’ll quickly be overwhelmed with all sorts of information.  You’ll have to wade through details about bonus categories, annual fees, and benefits.  And that’s before you start reading the fine print!

You could spend hours doing your research and still not end up with the best cash rewards credit card for you.  The good news is, we’ve done all the legwork so you don’t have to!

We’ll help you boil down your options down to basic categories so you can make a quick and easy decision.  Because the best cash back credit card for someone else might not be the right card for you.

We’ll cover everything you need to know including:

  • Intro bonus:   Banks entice folks like you and me to apply for their credit cards with generous bonuses!  And a big welcome bonus can be the difference between the “right” or “wrong” card.
  • Minimum spending requirements:   You generally won’t earn an intro bonus without meeting a minimum spending requirement.  This is a BIG factor in deciding whether or not you should get a card.  It’s NOT a good idea to spend more than you normally would just to meet a minimum spending requirement.  So if you can’t comfortably meet a card’s minimum spending, then hold off on applying until you can.
  • Cash back earning rate:   How much cash back will you earn per $1 spent?  And which, if any, categories of purchases will earn bonus cash?
  • Perks, quirks, and fees:   Each card has different benefits, like insurance coverage for everything from rental cars to cell phones.  And some cards have an annual fee.  However, the card’s perks will quite often offset the fee making it worth paying.  But you’ll want to make sure the benefits of a card outweigh any fees before you make a decision.
We’ve Highlighted the Best Cash Back Cards.  So the Right One for You Will Be Easy to Find!

If you’re just starting out with rewards credit cards you’ll want to know your credit score before applying.   You can check it for free at a number of different sites, including myBankrate.  To have the highest odds of approval for most of the best cash back credit cards, you’ll need a credit score of 700+.  But even if you have less than perfect credit, you’ve still got options.

Banks look at more than just your credit score when reviewing your application.  And having a pristine credit report does NOT guarantee an approval.

You’ll also want to read our post about the 11 credit card myths that could be holding you back.  For example, it’s a common myth that applying for credit cards will hurt your credit score.  While it is true that applying for a credit card will result in a hard inquiry, which will temporarily lower your credit score by a small amount, over the long haul it’s easy to maintain an excellent credit score and have lots of rewards credit cards!

Many of us on the Million Mile Secrets team have 12+ credit cards while maintaining credit scores over 800!

Of course, if you don’t pay your balance off in full and on time every month your credit score can take a hit.  And you’ll end up paying hefty interest and fees.  So if you’re not in a position to pay off all your credit card balances each and every month, then you’ll want to wait to apply until you are.  No credit card rewards are worth sacrificing your credit score or finances!

Best Cashback Credit Card for 5% Bonus Categories:   Chase Freedom®

Apply Here:   Chase Freedom®

Our Review:   Review of the Chase Freedom

You can earn a $150 bonus (15,000 Chase Ultimate Rewards points) with the Chase Freedom card after spending $500 on purchases within the first 3 months of account opening.

You’ll also earn 5% cash back (5X Chase Ultimate Rewards points) on the no-annual-fee Chase Freedom card’s rotating quarterly categories.  After you activate the bonus, you can earn it on up to $1,500 in spending each quarter.  And the bonus categories are typically very useful, like gas stations, grocery stores, and mobile wallet or Paypal payments!

I recently took advantage of the Chase Freedom card’s 5% cash back category by paying my taxes through PayPal with my card.  And the category bonus made it a profitable move, even with the extra fees for making the payment with a card!

70,000 Chase Ink Plus Points 700 In The Bank
The Chase Freedom Card’s Bonus Categories Can Quickly Put Cash Back Where It Belongs, in Your Pocket!

The Chase Ultimate Rewards points you earn with the Chase Freedom card are worth 1 cent each toward cash back or travel.  But your points are much more valuable if you have cards like the Chase Sapphire PreferredChase Sapphire Reserve, or Ink Business Preferred.

When you have one of these cards, you can combine your points and transfer them to lots of great airline and hotel partners!

For example, you could redeem 30,000 Chase Ultimate Rewards points for $300 cash back (30,000 Chase Ultimate Rewards points X 1 cent each).

Or, you could transfer those points to Hyatt and book a $900 hotel room!  And those same points could get you to Hawaii and back on British Airways, Korean Air, or Singapore Airlines!  That’s why being able to transfer your points is so powerful!

Chase has one of the more restrictive application rules – the 5/24 rule.  Chase will not approve you for most of their cards if you’ve opened 5+ cards from any bank (NOT counting Chase business cards and these other business cards) in the past 24 months.  And the Chase Freedom card is affected by this rule.

So if you’re new to the rewards credit card hobby, it makes sense to apply for the Chase credit cards you want first.  And then get other cards later on.

Apply Here:   Chase Freedom®

The information for the Chase Freedom® has been collected independently by Million Mile Secrets. The card details on this page have not been reviewed or provided by the card issuer.

Best Cashback Credit Card for Non-Bonus Category Purchases:   Chase Freedom Unlimited®

The no-annual-fee Chase Freedom Unlimited is the card for you if you want to keep things simple and earn Big Travel with Small Money.  With it, you will earn 1.5% cash back (1.5X Chase Ultimate Rewards points) on every purchase.

And you can earn a $150 welcome bonus (15,000 Chase Ultimate Rewards points) after you spend $500 on purchases within the first 3 months of opening your account.

Because you’re earning 1.5X Chase Ultimate Rewards points per $1 on all purchases, this is the perfect card for all non-bonus category purchases, especially big expenses like home or vehicle repairs!

Categories?  Forget About ‘Em and Earn More Rewards for Your Everyday Purchases With the Chase Freedom Unlimited Card!

And, just like with the Chase Freedom, you can combine the points you earn with other eligible Chase cards!  If you do this, you’ll be able to transfer your Chase Ultimate Rewards points to Chase’s travel partners.

The Chase Ultimate Rewards points you earn with the Chase Freedom Unlimited card are normally worth 1 cent each as cash back or toward travel booked through the Chase Travel Portal.  But when you pool them onto certain Chase cards they’re worth:

That means you can effectively earn up to 2.25% toward travel with every purchase (1.5 Chase Ultimate Rewards points X 1.5 cents per point) if you have the Chase Sapphire Reserve card!

The Chase Freedom Unlimited card is restricted by the Chase “5/24” rule.  So if you’ve opened 5+ credit cards from any bank in the past 24 months (NOT counting Chase business cards and these other business cards), you’re unlikely to be approved for this card.

Apply Here:   Chase Freedom Unlimited®

The information for the Chase Freedom Unlimited® has been collected independently by Million Mile Secrets. The card details on this page have not been reviewed or provided by the card issuer.

Best Cashback Credit Card for Big Intro Bonus and Cell Phone Protection:   Wells Fargo Cash Wise Visa® Card

The Wells Fargo Cash Wise Visa® Card is a solid no-annual-fee cash back credit card with a good welcome bonus and useful perks.  You’ll earn a $200 cash rewards bonus after you spend $1,000 in purchases within the first 3 months of account opening.

The card earns 1.5% cash back on all purchases.  But for the first 12 months from account opening, you’ll earn 1.8% cash back on eligible mobile wallet payments like purchases you make with Google Pay or Apple Pay.

The card also has one of the best benefits you’ll find with a no-annual-fee credit card.  If you pay your cell phone bill with your Wells Fargo Cash Wise card, you’ll get insurance for the repair or replacement of your original cell phone due to damage or theft.  You can get up to $600 of protection per claim (after a $25 deductible) and up to $1,200 of coverage per 12 month period.

How To Meet American Express Minimum Spending Requirements
You Could Potentially Save Yourself $100s in Repairs When You Pay Your Cell Phone Bill With Your Wells Fargo Cash Wise Card!

Not all cell phones or issues are covered by the insurance, so be sure to read the fine print.  If your cell phone is rented, borrowed, or included as part of a prepaid plan it’s NOT protected.  And lost cell phones, electronic issues, and software problems aren’t covered either.

Apply Here:   Wells Fargo Cash Wise Visa® Card

Best Cashback Credit Card for Gas and Groceries:   Blue Cash Preferred® Card from American Express

If you’re looking to take the sting out rising fuel prices and expensive grocery bills, the AMEX Blue Cash Preferred should be in your wallet.

With this card, you can earn a $200 statement credit after spending $1,000 on purchases in the first 3 months of account opening.  And the card has some exceptional bonus categories:

  • 6% cash back at US supermarkets (up to $6,000 in purchases per calendar year, then 1% cash back)
  • 3% cash back at US gas stations and select US department stores
  • 1% cash back on everything else
Earning 6% Cash Back on Up to $6,000 of Annual Purchases at US Supermarkets Can Add Up to Big Savings!

The AMEX Blue Cash Preferred does have a $95 annual fee.  But you can earn $95 cash back if you spend as little as ~$1,583 at US supermarkets in a year (~$1,583 in groceries X 6% cash back)!

AMEX doesn’t count superstores or warehouse clubs as supermarkets.  So purchases made at Walmart, Target, Amazon, or Costco do NOT qualify for 6% cash back.  And generally, fuel purchases from gas stations that are part of supermarkets or warehouse clubs will NOT qualify for the 3% cash back bonus US gas stations.

So be sure to review the terms before you make any big bonus-category purchases.

The card also comes with other perks like:

  • Free ShopRunner Membership – Free 2-day shipping from 100s of online stores worth $79 per year!
  • Rental car loss and damage insurance – This insurance will cover authorized drivers for damage to or theft of most rental cars.  The coverage applies when you pay for the entire rental with your eligible card.  This benefit is secondary to other insurance.
  • Extended warranty – You can get up to an additional year on the original manufacturer’s warranty, depending on the length of the original warranty
  • Return protection – If a qualifying US purchase cannot be returned to the original merchant, you can be reimbursed up to $300 per item ($1,000 per calendar year).  The coverage is limited to purchases made in the past 90 days.

Apply Here:   Blue Cash Preferred® Card from American Express

Best Cashback Credit Card for Dining:  Capital One® Savor® Cash Rewards Credit Card

Apply Here:    Capital One® Savor® Cash Rewards Credit Card

Our Review:   Review of the Capital One Savor card

When you open a new Capital One Savor card, you’ll earn $500 cash back after spending $3,000 on purchases within the first 3 months of account opening.

And it’s the perfect card to use when you’ve got a night out on the town planned because it earns 4% cash back on dining and entertainment purchases!  You’ll also get:

  • 2% cash back at grocery stores
  • 1% cash back on all other purchases

And there is no limit to the amount of cash back you can earn!

The card has a $95 annual fee, but it’s waived the first year.

4% Cash Back on Dinner Is Just One More Reason Celebrate When You’re Out With Friends

Apply Here:    Capital One® Savor® Cash Rewards Credit Card

Best Cashback Credit Card for Travel Purchases and No Annual Fee:   Wells Fargo Propel American Express® Card

Apply Here:   Wells Fargo Propel American Express® Card

The Wells Fargo Propel American Express Card comes with 30,000 bonus points (worth $300 in cash back, travel, gift cards, or other rewards) after spending $3,000 in purchases within the first 3 months of card opening.

You’ll also get:

  • 3 points per $1 spent on travel purchases (flights, hotels, homestays, and car rentals)
  • 3 points per $1 spent on eating out and ordering in
  • 3 points per $1 spent on gas stations, rideshares, and transit
  • 3 points per $1 spent on eligible streaming services, like Apple Music, Hulu, and Netflix
  • 1 point per $1 for all other purchases
  • Cell phone insurance (up to $600 per claim with a $25 deductible)
  • NO foreign transaction fees
  • NO annual fee

Your points are worth 1 cent a piece for rewards like cash back, travel, or gift cards.  If you spend a lot in these categories, earning 3% back in rewards is a good deal.  Especially for a card with no annual fee!

If You’re Purchasing Airfare, the No Annual Fee AMEX Wells Fargo Propel Card Is a Great Card to Use Because You’ll Earn Rewards Worth (at Least!) 3% in Cash Back!

If you also have the Wells Fargo Visa® Signature® Card, you can redeem your points for 1.5 cents each toward airfare through the Wells Fargo portal.  Which means you’ll effectively get 4.5% toward airfare for bonus category purchases of travel, dining, gas stations, and more (3X points per $1 X 1.5 cents each)!

The other great aspect of this card is that it has NO annual fee, and everyone should have a no annual fee card.  They’re good to keep forever because keeping your cards open for a long time can increase the average age of your accounts, and potentially improve your credit score!

And because it’s an AMEX card, you’ll be able to save on select purchases with AMEX offers!

The information related to the Wells Fargo Visa Signature Card has been collected by Million Mile Secrets and has not been reviewed or provided by the issuer or provider of this product or service.

Apply Here:   Wells Fargo Propel American Express® Card

Bottom Line

The best credit cards for cash back are:

Do you have a favorite cash back card that didn’t make the list?  Please let us know in the comments!

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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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