Best Cash Back Credit Cards

Grant Sabatier

Creator of Millennial Money and Author of Financial Freedom. Dubbed "The Millennial Millionaire" by CNBC, Grant went from $2.26 to over $1 million in 5 years, reaching financial independence at age 30.

Latest posts by Grant Sabatier (see all)

Cash back credit cards are a great way to earn rebates on everyday purchases. So long as you manage your money right and don’t overspend, using a cashback card gives you a guaranteed rebate on your everyday purchases—usually 1% to 2%.

While cash back cards don’t have as powerful of rewards as travel rewards cards, they’re easy to understand.

After all, you can usually redeem your cashback rewards as a statement credit, a check-in-the-mail, or direct deposit into your checking account.

And let’s be real: who doesn’t like that!?

Best Cash Back Credit Cards in 2019

best cash back credit cards pinterest imageBut don’t sign up for the first cashback credit card you see.

There are tons of different cash back credit cards on the market, each with different benefits, cash back earning rates, and bonus categories—so it’s important to compare what card is right for you.

That’s where we come in. In this article, we’ll take you through the best cashback cards for 2019.

We’ll compare the cards’ rewards earning, interest rates, fees, and other added perks. We’ve also highlighted the card’s welcome bonus.

As you go through the article, do note that you need to have excellent credit (generally a 700+ FICO score) to be approved for any of these cards. Pull your free annual credit report before applying to check your score.

So without further ado, let’s dive in!

Quick Navigation:

  1. Capital One Quicksilver
  2. Chase Freedom Unlimted
  3. Ink Business Cash
  4. Chase Freedom
  5. Capital One Savor
  6. Citi Double Cash
  7. Wells Fargo Cash Wise
  8. U.S. Bank Cash+
  9. Blue Cash Everyday
  10. American Express Cash Magnet
  11. Wells Fargo Propel
  12. Bank of America Cash Rewards
  13. Penfed Power Cash Rewards
  14. Summary

#1 Capital One® Quicksilver® Cash Rewards Credit Card

Capital One Quicksilver Cash Rewards Credit CardThe Capital One Quicksilver Cash Rewards Card earns a flat rate of 1.5% cashback on all purchases with no bonus categories.

However, the Quicksilver is a MasterCard, meaning that it’s accepted at more merchants than its American Express alternative.

Capital One is offering a pretty sweet signup bonus too. New cardmembers will earn $150 in bonus cash back after spending $500 within the first three months of account opening.

This lower spend requirement makes the $150 tangible for even the most modest spenders.

Additionally, the card offers a range of travel and purchase protections that can be huge cash savers. Capital One also has an innovative virtual card number service called Eno that gives you temporary credit card numbers for online shopping.

  • Cashback Earning: 1.5% on all purchases
  • Bonus Categories: None
  • Cashback Redemption: Statement credit
  • Welcome Bonus: $150 after spending $500 in three months
  • Annual Fee: $0

Apply Now!

#2 Chase Freedom Unlimited

Chase Freedom Unlimited Credit CardLike the last two cards, the Chase Freedom also earns 1.5% cashback on all purchases. This time, however, you’ll earn Chase Ultimate Rewards points, so you can redeem for statement credit, travel credit, or gift cards.

Thankfully, the Freedom Unlimited has a nice welcome bonus too: $150 bonus cash back after spending $500 in your first three months of card membership.

Like the Quicksilver welcome bonus, this should be pretty easy for most people to achieve.

  • Cashback Earning: 1.5% on all purchases
  • Bonus Categories: None
  • Cashback Redemption: Statement credit, gift cards, and travel
  • Welcome Bonus: $150 after spending $500 in three months
  • Annual Fee: $0

Apply Now!

#3 Ink Business Cash Credit Card

Ink Business Cash Credit CardThis card earns 1% back on all purchases but has a ton of bonus categories.

You’ll earn 2% back (up to $25,000 in purchases per year) at gas stations and restaurants, and 5% back (up to $25,000 in purchases per year) at office supply stores and on internet, cable, and phone bills.

Pretty amazing stuff, right?

The card also has a 0% interest rate for the first 12 months of card membership, rising to somewhere between 15.24% and 21.24% afterward. The card also has no annual fee, so it’s great for cash-strapped startups and ventures.

Even better? You’ll earn $500 cash back after spending $3,000 in purchases during your first 3 months of being an Ink Business Cash member. That mixed with the bonus categories makes the card one of the best for business.

  • Cashback Earning:1% on all purchases
  • Bonus Categories: 5% cash back at office supply stores, internet, cable, and phone service (up to $25,000 per year), 2% cash back at gas stations and restaurants (up to $25,000 per year)
  • Cashback Redemption: Statement credit, travel, gift cards
  • Welcome Bonus: $500 after spending $3,000 on purchases in the first 3 months of account opening
  • Annual Fee: $0

Apply Now!

#4 Chase Freedom

Chase Freedom Credit CardThe standard Chase Freedom card is exactly the same as the Freedom Unlimited, but with a catch. The card earns 1% on all purchases but earns 5% on a rotating set of categories, up to $75 earned.

These categories change quarterly and are usually focused on everyday purchases. For example, for Q4 2018, the card is offering 5% back at department stores, Chase Pay transactions, and at wholesale clubs like Costco.

The rest of the card—including the $0 annual fee and $150 welcome bonus—are exactly the same as the Freedom Unlimited. So assess what is more important to you: 1.5% on all purchases, or 5% on categories.

  • Cashback Earning: 1% on all purchases
  • Bonus Categories: 5% (up to $75) on rotating categories
  • Cashback Redemption: Statement credit, gift cards, and travel
  • Welcome Bonus: $150 after spending $500 in three months
  • Annual Fee: $0

Apply Now!

#5 Capital One® Savor Cash Rewards Credit Card

Capital One Savor Cash Rewards Credit CardIf you like to eat out, consider putting the Capital One Savor card in your pocket.

The card gives a massive 4% back on dining purchases, and 1% back on everything else. All rewards can be redeemed for—you guessed it—statement credit or gift cards.

Even cooler, the card has a whopping $500 welcome bonus after spending $3,000 in purchases in the first 3 months of being a cardholder.

There’s one catch though: the card has a $95 annual fee that is, thankfully, waived for the first year. But if you spend enough on dining, the card may pay for itself over time.

  • Cashback Earning: 1% on all purchases
  • Bonus Categories: 4% cashback on dining
  • Cashback Redemption: Statement credit or gift cards
  • Welcome Bonus: $500 after spending $3,000 on purchases in the first 3 months of account opening
  • Annual Fee: $0 first year, $95 after

Apply Now!

#6 Citi® Double Cash Card

Citi Double Cash CardAnd now it’s time for one of our staff favorites: the Citi Double Cash!

This card offers an awesome 2% cashback on all purchases. 1% is paid out when you make a purchase, and the other 1% is paid when you pay down your card.

There are no bonus categories, but 2% back everywhere is an incredible value—especially considering the $0 annual fee.

Unfortunately, however, the card does not have a welcome bonus. This is disappointing when compared to other cards on this list, but is expected since the card offers such high cash back earning rate.

  • Cashback Earning: 2% on all purchases; 1% when you buy, 1% when you pay
  • Bonus Categories: None
  • Cashback Redemption: Statement credit, direct deposit, check in the mail
  • Welcome Bonus: None
  • Annual Fee: $0

#7 Wells Fargo Cash Wise Visa® Card

Wells Fargo Cash Wise Visa CardWells Fargo also has its own variant of a 1.5% cashback card. The card has no bonus categories but offers a nice $200 welcome bonus for spending $1,000 in purchases in the first 3 months of card membership.

If you’re interested in the card, rest assured that the annual fee is $0 per year.

  • Cashback Earning: 1.5% on all purchases
  • Bonus Categories: None
  • Cashback Redemption: Statement credit or gift cards
  • Welcome Bonus: $200 after spending $1,000 on purchases in the first 3 months of account opening
  • Annual Fee: $0 first year

#8 U.S. Bank Cash+™ Visa Signature® Card

US Bank Cash+ Visa Signature CardThe U.S. Bank Cash+ is often overlooked by credit card blogs, but it shouldn’t be.

The card offers 1% cashback on all purchase but has both 2% and 5% bonus categories. You can choose one “everyday” category for 2% back, and 5% in two additional categories.

The 2% “everyday” category includes things like groceries and gas, so pick the one you spend the most on. On the other hand, the 5% category focuses on infrequent purchases like your phone bill, fast food, and clothing.

Do note that you can earn unlimited 2% cash back on your everyday purchases. On the other hand, you’ll only earn 5% back on your first $2,000 in purchases on your two 5% categories.

U.S. Bank offers a $150 welcome bonus after spending $500 in purchases your first three months of card membership.

  • Cashback Earning:1% on all purchases
  • Bonus Categories: 2% on one everyday category (groceries, gas stations, etc), 5% on first $2,000 in purchases per quarter on two categories of your choice (phone bill, clothing, etc)
  • Cashback Redemption: Statement credit, Visa gift card, bank transfer
  • Welcome Bonus: $150 after spending $500 on purchases in the first 3 months of account opening
  • Annual Fee: $0

#9 Blue Cash Everyday® Card from American Express

Blue Cash Everyday Card from American ExpressAmerican Express has another cashback option: the Blue Cash Everyday card.

Unlike its Cash Magnet offering, this card earns 1% on all purchases but has an awesome 3% back on groceries (up to $6,000 in purchases per year) and 2% back at gas stations and department stores.

Like the Cash Magnet, though, the card offers the same $150 welcome bonus after spending $1,000 on purchases in the first 3 months of card membership.

So this requires a bit more spend than other cards on the list but is still pretty tangible if you’re able to charge your bills.

Thankfully, there’s no annual fee on this card, so you can enjoy a fee-free credit life so long as you pay your bill on time. Nice.

  • Cashback Earning:1% on all purchases
  • Bonus Categories: 3% cash back at U.S. supermarkets (up to $6,000 per year), 2% cash back at gas stations and select U.S. department stores
  • Cashback Redemption: Statement credit or gift cards
    Welcome bonus: $150 after spending $1,000 on purchases in the first 3 months of account opening
  • Annual Fee: $0

Apply Now!

#10 American Express Cash Magnet™ Card

American Express Cash Magnet CardThe American Express Cash Magnet card is a new player to the cashback credit card scene. The card earns 1.5% cashback on all purchases with no bonus categories, so you don’t have to think about using the right card for a specific purchase.

The card has a couple of neat perks too. American Express is currently running an awesome welcome bonus for the card, giving $150 back after you spend $1,000 or more in purchases within the first 3 months of getting the card.

Additionally, you’ll earn an additional $100 back after you put another $6,500 in purchases on your in the first 12 months of card membership.

Finally, the Cash Magnet comes with standard American Express benefits like roadside assistance, car rental loss and damage insurance, purchase protection, and more. Do your research and utilize these benefits when you can—they can save you thousands.

  • Cashback Earning: 1.5% on all purchases
  • Bonus Categories: None
  • Cashback Redemption: you’re awarded Reward Dollars that you can redeem for statement credits, gift cards, and merchandise.
  • Welcome Bonus: $150 after spending $1,000 in three months; $100 after spending $6,500 in twelve months.
  • Annual Fee: $0

Apply Now!

#11 Wells Fargo Propel American Express® Card

Wells Fargo Propel American Express CardTravelers that like earning cashback need to check out the Wells Fargo Propel American Express card.

This is the only cashback card on the list that earns 3% cash back on travel, restaurants, gas, and popular streaming services—perfect for the traveler on the go. All other purchases earn 1%.

Cashback is awarded in the form of points that can be used for statement credit, travel, or gift cards.

There’s an awesome 30,000 point ($300) welcome bonus after spending $3,000 in 3 months, giving you a nice head start on free tickets for your next big trip.

All of this mixed with the $0 annual fee makes the Propel card the best cashback card for frequent travelers.

  • Cashback Earning:1x points per $1 spent on all purchases
  • Bonus Categories: 3x points per $1 spent on eating out, ordering food, gas, rideshares, transit, flights, hotels, homestays, car rentals, and popular streaming services.
  • Cashback Redemption: Statement credit, travel, gift cards
  • Welcome Bonus: 30,000 points ($300) after spending $3,000 on purchases in the first 3 months of account opening
  • Annual Fee: $0

#12 Bank of America® Cash Rewards

Bank of America Cash Rewards Credit CardCheck out the Bank of America Cash Rewards card if you spend lots on gas.

The card earns a whopping 3% on gas purchases (up to $2,500 spent per quarter), 2% on grocery stores and wholesale clubs, and 1% everywhere else. This can seriously add up for Uber drivers, truck drivers, and couriers that make frequent gas station purchases.

Additionally, you’ll earn 25% to 75% more cash back if you’re a Bank of America Preferred Rewards member. You’ll earn more cashback depending on your membership tier, so those with lots of assets at Bank of America are in luck.

Finally, the card has a nice $200 welcome bonus after spending $500 in the first 3 months of being a cardmember.

  • Cashback Earning:1% on all purchases
  • Bonus Categories: 3% cash back on gas (up to $2,500 in purchases per quarter), 2% cash back at grocery stores and wholesale clubs
  • Cashback Redemption: Statement credit or gift cards; 10% bonus for redeeming into Bank Of America accounts, Preferred Rewards clients earn 25% to 75% bonuses.
  • Welcome Bonus: $200 after spending $500 on purchases in the first 3 months of account opening
  • Annual Fee: $0

#13 PenFed Power Cash Rewards Visa Signature® Card

Penfed Power Cash Rewards Visa Signature CardThe PenFed Power Cash card is simple: it earns 2% cashback on all purchases for Advantage Members, and 1.5% for other members. You can earn Advantage by meeting specific banking requirements, so it’s a good pick if you already bank at PenFed.

It has a nice $150 welcome bonus for spending $1,500 in the first three months of holding the card.

This card is a great choice for PenFed Advantage members. It’s the only 2% cash back card that also has a welcome bonus, so check it out if you’re eligible.

  • Cashback Earning:1.5% on all purchases; 2% for PenFed Advantage Members
  • Bonus Categories: None
  • Cashback Redemption: Statement credit, bank transfer
  • Welcome Bonus: $150 after spending $1,500 on purchases in the first 3 months of account opening
  • Annual Fee: $0

Apply For A Cashback Credit Card Today

And there you have it: the best cashback cards for 2019. Make sure to do your own research and compare the cards to find which is best for you as each has its own perks and award earning structures.

Remember, pay special attention to the bonus categories, welcome bonuses, and annual fees so you can get the most bang for your buck.

But now we want to hear from you: what cashback card do you use? Let us know in the comments.

The only question now is, what should you do with all the cashback? I suggest investing it!

Join Millennial Money Crew of 50,000+

Financial freedom grant sabatier

+ GET CHAPTER 1 of my Bestselling Book FINANCIAL FREEDOM!

Powered by ConvertKit
No Comments

Post A Comment