When it comes to cash-back credit cards, selecting the right one can make a big difference in how much you earn back. Here’s a breakdown of some of the best options based on different needs:
Best for 0%-APR Offer:
- Wells Fargo Active Cash® Card
- Why it’s great: Offers 0% intro APR on purchases and balance transfers for 15 months, making it ideal for people looking to pay off debt or make large purchases while avoiding interest. It also offers 2% cash back on every purchase with no categories to worry about.
Best for Flat-Rate Cash Back:
- Citi Double Cash® Card
- Why it’s great: Earns 2% cash back on all purchases—1% when you buy, and another 1% when you pay off your balance. This is a simple, straightforward card for those who want cash back on everything with no categories to track.
Best for No Annual Fee:
- Chase Freedom Unlimited®
- Why it’s great: Offers 1.5% cash back on all purchases, with added bonus categories like 5% on travel purchased through Chase Ultimate Rewards, 3% on dining, and 3% on drugstore purchases. Plus, there’s no annual fee.
Best for Average Credit:
- Capital One QuicksilverOne Cash Rewards Credit Card
- Why it’s great: Designed for those with average credit, it offers 1.5% cash back on every purchase and no annual fee, making it a good starter card for building credit while earning rewards.
Best for Students:
- Discover it® Student Cash Back
- Why it’s great: Ideal for students, it offers 5% cash back on rotating categories (up to a quarterly limit) and 1% on all other purchases. It also matches all the cash back you earn in your first year. Plus, there’s no annual fee.
Best for Rotating Bonus Categories and Welcome Bonus:
- Chase Freedom Flex®
- Why it’s great: Offers 5% cash back on rotating quarterly categories (up to a certain spending limit), 1% on all other purchases, and 3% on dining and drugstores. It also comes with a welcome bonus and no annual fee.
Key Considerations When Choosing:
- Spending Habits: Pick a card that aligns with your regular spending habits. For example, if you spend a lot on dining, consider a card that offers higher rewards in that category.
- Fees: Some cards have annual fees or foreign transaction fees, so be sure to check if the benefits outweigh these costs.
- Intro Offers: Many cards offer introductory bonuses or 0% APR periods, which can be useful for new cardholders.
Each of these cards is tailored to different spending styles and financial goals, so finding the best one for you depends on how you use your credit card.
