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Best Cash Back Credit Cards (Updated 2017)

Best Cash Back Credit Cards (Updated 2017)

If you are lucky enough to have a good or great credit rating, then you have your choice of the best cash back credit cards on the market. It is in your interest to pick the best and more rewarding one in order to make the most of your good/great credit rating. In our review, we only feature the best cash back credit cards, we don’t bother mentioning the credit cards that we tested and disliked. We have only listed the best of the best.

The Best Cash Back Credit Cards for 2017

Cash back credit cards allow you to earn rewards every time you make a purchase with your card. Rewards can then be redeemed for a variety of products and services such as electronics, rebates, hotels, flight offers, or cold hard cash in your account. Cash back cards can offer tremendous value on your purchases especially if your balance is paid down each month to avoid interest charges. If your balance isn’t paid down, your interest charges could be nullifying any cash back benefits you may be receiving. There are several cash back credit cards to choose from with each being a little bit different then the other. Below is our review featuring the best cash back credit cards and what they offer.

BankAmericard Cash Rewards Credit Card

The BankAmericard Cash Rewards credit card doesn’t make it easy to earn the most and best rewards. It is the type of card that offers you plenty, but makes you jump through hoops to get it. If you are going out of your way to get the most out of credit card offers, then this card is a fine choice if you use it wisely.

Benefits

  • 0% intro APR for any purchases for the first 12 billing cycles
  • 0% APR for 12 months for balance transfers initiated within 60 days of opening
  • $150 online cash rewards bonus after you spend first $500 in the first 90 days
  • Earn 1% cash back on every purchase
  • Earn 2% cash back when buying from wholesale clubs and grocery stores
  • Get 3% cash back on gas
  • Regular variable APR is between 13.74% and 23.74%

Pros

  • There is no annual fee
  • There are no revolving categories
  • A good introductory offer
  • Your rewards will not expire

Cons

  • You may only earn cash back on purchases up to $2500 every quarter
  • There is a 3% balance transfer charge

Is this card right for me?

  • Ideal if you will use frequently on groceries and gas
  • You don’t have to use the card frequently to benefit due to the 3% on gas
  • If you have excellent credit, then make sure you explore all your options

Discover It Credit Card

The Discover It credit card is another card that makes you jump through hoops to get the best and most out of it. I recommend that you have two or three of these cards and that you use them strategically to get the most out of them. For example, this month, one of the rotating categories may be gas, in which case you use your Discover card. Next month, the 5% rotating category may be groceries, in which case you use this card for groceries, and you use another credit card for gas, such as the BankAmericard that was listed above because it gives you 3% on gas purchases.

Benefits

  • 0% intro APR for any purchases for the first 14 billing cycles
  • 0% APR for 14 months for balance transfers
  • Earn up to 5% cash back on rotating categories each quarter
  • Earn 1% cash back on all other purchases
  • Regular variable APR is between 11.74% and 23.74%

Pros

  • There is no annual fee
  • No foreign transaction fees
  • There are no fees for going over your credit limit
  • You can earn up to 5% cash back on rotating categories
  • A great introductory offer

Cons

  • Earning 5% is great, but the rotating categories makes things tricky
  • If a purchase doesn’t fit under rotating category, then max you can earn is only 1%

Is this card right for me?

  • It is ideal if you want a card with no fees
  • It is not ideal if you prefer a flat rate card over a hit and miss rotating category

Chase Freedom Credit Card

You get a slightly longer 0% APR period on this card, and the cash-back amount is unlimited. It is a card that better suits casual users who are not proactively looking for ways to exploit credit cards. It is a credit card for people who simply want a credit card that has perks. Keep up with their rotating categories and follow their rules by the book in order to earn the most rewards points possible.

Benefits

  • 0% intro APR for any purchases for the first 15 billing cycles
  • 0% APR for 15 months for balance transfers
  • Earn $150 cash bonus after you spend first $500 within first 3 months
  • Unlimited 1% cash back on every purchase
  • Regular variable APR of between 15.74% and 24.49%
  • Earn up to 5% cash back on rotating categories

Pros

  • You can earn unlimited cash back on purchases at a 1% rate
  • A long introductory period of 0% APR
  • There is no annual fee

Cons

  • The 5% revolving category can be a hit or miss
  • Keeping up with the rotating categories is very difficult

Is this card right for me?

  • It is ideal if you have good-but-not-excellent credit
  • It is not so great if you are looking the fully exploit the best deals

Blue Cash Preferred Card from American Express

The offers this card gives away are short but sweet. A clever credit card user could fully exploit this card within just a few months. If you are looking to play the credit card game, then use up all the card’s benefits and rewards, and then cancel it before the end of the first year so that you do not have to pay the annual fee again.

Benefits

  • 0% intro APR for any purchases for the first 12 billing cycles
  • 0% APR for 12 months for balance transfers
  • Get $250 cash back after you spend $1000 in the first 3 months
  • Earn 6% cash back on grocery purchases for a maximum of $6000 per year
  • Earn 3% at gas stations and some department stores
  • Get 1% cash back on mostly all other purchases

Pros

  • The 6% cash back offer for up to $6000 per year is pretty good
  • They have a nice intro offer and sign up bonus

Cons

  • It comes with an annual fee of $95
  • American Express isn’t as widely accepted world wide as Visa and MasterCard
  • The 6% deal only runs for $6000 of purchases per year

Is this card right for me?

  • It is ideal if you use the card regularly for grocery purchases
  • It is ideal if you use card frequently to offset annual fee
  • Heavy spenders will quickly burn through the best offers

Citi Double Cash Credit Card

The long 0% APR period, and the potential to earn 2% cash back without limits is just what frequent credit card users need. You don’t have to think about things such as categories or annual fees. You have your card, you use your card, and you get 2% of your cash back–that is all you have to think about.

Benefits

  • 0% intro APR for any purchases for the first 15 billing cycles
  • 0% APR for 15 months for balance transfers
  • Earn 1% cash back when you make a purchase
  • Earn 1% cash back when you pay down or pay off your balance
  • There is no annual fee
  • Regular variable APR of 14.24% to 24.24% based on your credit score

Pros

  • You do not have to buy in certain categories
  • There are no categories that earn more or less rewards
  • No restrictions on how much you spend or earn back
  • There is no longer an annual fee
  • You don’t pay a fee the first time you are late with your minimum payment

Cons

  • You need to have excellent credit to qualify
  • The highest you can earn on any purchase is a total of 2%

Is this card right for me?

  • Ideal for frequent users who are not looking for a big introductory reward
  • Ideal if you wish to use the card for a wide variety of purchases
  • It is not the best card to use if you are looking to use the card for gas/travel purchases

Capital One Quicksilver Cash Rewards Credit Card

This credit card is similar to the one above. It is for people who are not looking to fully exploit their credit card. It is if people who are moderate-to-heavy credit card users who are not eager to think about how they earn their cash back rewards. It is a passive credit card where you simply use it and earn your rewards without having to worry about getting the most for your money, and without having to worry about which category is going to pay the most.

Benefits

  • 0% intro APR for any purchases for the first 9 billing cycles
  • 0% APR for 9 months for balance transfers
  • Earn 1.5% cash back on all purchases
  • There are no limits on how much cash back you earn
  • Receive a $100 bonus after you spend the first $500 within the first 3 months
  • Regular variable APR ranges from between 13.74% to 23.74%

Pros

  • The cash back you earn is unlimited
  • There is no annual fee
  • No foreign transaction fee s
  • A high and unlimited reward rate
  • Your rewards do not expire while your account is open

Cons

  • You need excellent credit to get the card
  • Some people claim it is difficult to get the $150 reward

Is this card right for me?

  • It is ideal if you want a flat rate card
  • It is also ideal for frequent and infrequent card users
  • Great for travelers because there is no foreign transaction fee
  • Not ideal if looking for rewards for specific cash-back categories

Who Should Get One?

These cards are ideal for someone who has an excellent credit score. Furthermore, these cards are ideal if you use your card frequently on purchases. If you want a card that offers a variety of cash back options then a cash back card is best for you. Cash back cards often have revolving categories which pay up to 5% per quarter. If you prefer rewards for travel, flight, or strictly gas credit cards then these cash back cards are not for you.

How to Choose the Best Card?

It is important to choose a cash back card that is based on your spending habits. Find a card that pays a high percentage of cash back for items or services you will frequently purchase. For example, if you will frequently use your card specifically on groceries then choose the card with the highest cash back for groceries. Doing so will allow you to maximize the value and perks of being a card owner. Most cash back cards have no annual fee, while a few do. When making your choice, if you choose one with an annual fee ensure that the amount of cash back you are receiving further out weighs the annual fee.

About The Author

Ben Todd

Ben was a seriously broke graduate student with bad credit who after finding himself rejected for any sort of credit card or loan for most of his adult life, finally decided to get his financial life in order. 'He spent several years reading as many financial advice books and blogs as he could.And suprisingly, Ben found he actually LIKED the topic of personal finance; after fixing his own finances, starting his own successful work at home website business, and using his earnings to get out of debt, created echeck.org to help others do likewise!

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