Tag: cash back

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Best of, Reviews

10 Best NO ANNUAL FEE Rewards Credit Cards of December 2017

The editorial content on this page is not provided by any financial institution and has not been reviewed, approved or otherwise endorsed by any of these entities.

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There are an abundance of no fee rewards credit cards available, so how do you best determine which one to keep in your wallet? Most earn a measly 1% on your spending, while others have no rewards at all. To help, we’ve dug deep into our database of thousands of rewards cards to find the very best no annual fee rewards credit cards of 2017 for each category.

While you might find rewards credit cards with an annual fee can give you the best rewards, we’re sticking to no fee cards that are available even if you don’t have truly excellent credit (good credit should be fine for most of these).

The first cards we list here offer unlimited double rewards on everything you purchase, while the remaining offer 3% or better rewards on spending in popular categories so you can mix and match to maximize your rewards, or they offer the chance for better earning if you use your rewards for travel.

1. Double Rewards on Everything, NO FEE – Citi® Double Cash Card

Citi® Double Cash Card – 18 month BT offer

Annual fee

$0*

Cashback Rate

1% when you buy, 1% when you pay

APR

14.49%-24.49%

Variable

APPLY NOW Secured

on Citibank’s secure website

Citi offers you rewards twice. First, you get 1% cash back when you make a purchase. Then, you get another 1% cash back as you pay it off. All with no annual fee and no spending cap. This lets you earn rewards twice as good as standard reward cards. Read our review for more details on the Citi® Double Cash Card.

If you like to maximize things and want to earn more rewards in special spending categories, consider pairing this with one of the no fee cards we list below.

2. Honorable Mention: 2% Fidelity Rewards Visa Signature, NO FEE

Fidelity® Rewards Visa Signature® Card

Annual fee

$0

Cashback Rate

2% on all spend

APR

14.99%

Variable

APPLY NOW Secured

on Fidelity’s secure website

Fidelity provides no annual fee 2% cash rewards on purchases if you deposit the cash you earn into a Fidelity account. But you don’t need to have any stocks or investments to have an account. Fidelity has no fee cash accounts where you can deposit your rewards, then withdrawal when you’re ready to spend. Be aware this card is designed for people with excellent credit, while the Citi® Double Cash Card might be easier to get.

Both cards offer you the flexibility to earn double rewards on anything you purchase; so either one of these is a nice addition to a rewards strategy. The advantage of the Fidelity card over the Citi® Double Cash Card is that its foreign transaction fees are just 1% versus 3% for the Citi® Double Cash Card. But setting up the Fidelity card and rewards is more cumbersome than the dead simple Citi® Double Cash Card. Read our review of the Fidelity Rewards Visa Signature card.

If you want to earn more than 2% rewards here’s a rundown of the best no fee rewards credit cards that earn 3% or more in the most popular categories. You can click on each category for our take and details:

  • Rotating 5% categories: Chase Freedom®, Discover it® Cashback Match™, Nusenda Platinum Cash Rewards
  • Restaurant spending: Uber Visa Card – 4%
  • Travel spending: AAA Member Rewards Visa Signature® Card – 3%
  • Gas spending: Fort Knox Credit Union Visa Platinum – 5%
  • Grocery shopping: Blue Cash Everyday® Card from American Express– 3% (up to $6,000 of spend annually), Golden 1 Credit Union Platinum Rewards – 3%

And if you’re interested in traveling, here are the best no fee rewards credit card deals:

If you like to dig, we also have a complete (and long) list of cards that earn more than 3% on purchases in many more special categories, including cards with an annual fee.

3. Restaurant Spending: Uber Visa Card – 4% Rewards, NO FEE

Uber Visa Card

Annual fee

$0 For First Year

$0 Ongoing

Cashback Rate

4% back on dining, 3% back on hotel and airfare, 2% back for online purchases, and 1% on everything else

APR

15.99%-24.74%

variable

If you frequently dine out, the Uber Visa card offers a great 4% back on dining purchases which includes restaurants, takeout, bars and UberEATS. You also get 3% back on hotel and airfare, including vacation home rentals; 2% back for Uber, online shopping, video and music streaming services; and 1% on everything else. To learn more about the Uber Visa card, check out our review.

4. Travel Spending: AAA Member Rewards Visa Signature® Card – 3% Rewards, NO FEE

AAA Member Rewards Visa Signature® Card

Annual fee

None

Rewards

3 points for eligible travel & AAA purchases, 2 points on gas, grocery store, and drugstore purchases, and 1 point per $1 for all other purchases

APR

13.24%-23.24%

No need to be an AAA member to take advantage of this rewards card. You earn points when you shop at travel merchants including airlines, car rental agencies, hotels, cruise lines and travel agencies. Along with the 3 points for eligible travel & AAA purchases, you earn 2 points on gas, grocery store, and drugstore purchases, and 1 point per $1 for all other purchases. Learn about the  AAA Member Rewards Visa Signature® Card here.

5. Gas Spending: Fort Knox Credit Union Visa Platinum – 5% Rewards

Fort Knox Federal Credit Union Visa® Platinum Card

Annual fee

$0 For First Year

$0 Ongoing

Cashback Rate

5% back on all gas station spending, 1% on all other purchases

APR

10.25%-15.25%

Variable

APPLY NOW Secured

on Fort Knox Federal’s secure website

Spend a lot of cash at the pump? The Fort Knox Credit Union Visa Platinum offers 5% cash back for gas. On all other retail purchases, you get 1% cash back. Anyone can join the Fort Knox Credit Union by becoming a member of the American Consumer Council for $5.

Another option to consider is the NRA Complete Rewards® Visa® Card which also offers unlimited 5% cash back on gas purchases. You do not need to be an NRA member to apply.

6. Supermarket Shopping: Blue Cash Everyday® Card from American Express – 3% Rewards

The Blue Cash Everyday® Card from American Express offers 3% cash back on U.S. supermarket purchases up to $6,000 per year. You also get 2% cash back at U.S. gas stations and select U.S. department stores. On everything else you earn 1% rewards. Read our review of the card for more detail. Terms Apply.

7. Honorable Mention: Golden 1 Credit Union Platinum Rewards – Unlimited 3% Grocery Rewards

Golden 1 Platinum Rewards Credit Card

Annual fee

$0 For First Year

$0 Ongoing

Cashback Rate

3% cash-rebate on gas, grocery, and restaurant purchases, plus 1% cash rebate on all other purchases

APR

7.79%-13.79%

APPLY NOW Secured

on Golden 1 Credit Union’s secure website

If you live in California, the Golden 1 Credit Union Platinum Rewards card will give you 3% cash rewards for purchases on groceries without the caps on the Blue Cash Everyday, along with gas and restaurants and 1% rewards on all other purchases. Also in California, the JCB Marukai Premium card offers unlimited 3% cash rewards on all purchases after your first $3,000 in spending each year. The catch is there’s a $15 annual fee on the card.

5% Cash Rewards in Rotating Categories: NO FEE

Cards with a rotating reward program can give you 5% cash rewards with no annual fee, but you’re limited to spending in special categories each quarter and there’s a cap on how much spending earns the 5%. You also have to opt into the 5% cash back rewards program each quarter.

8. Chase Freedom® – 5% in rotating categories, $0 ANNUAL FEE

Chase Freedom<sup>®</sup>

Annual fee

$0

Cashback Rate

5% on certain categories, 1% on everything else

APR

15.99%-24.74%

Variable

APPLY NOW Secured

on Chase’s secure website

Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories every 3 months. Unlimited 1% cash back on all other purchases. Check out our review for more benefits of the Chase Freedom®.

9. Discover it® Cashback Match™ – 5% in rotating categories, $0 ANNUAL FEE

Discover it® - Cashback Match<sup>TM</sup>

Annual fee

$0

Cashback Rate

5% on certain categories, 1% on everything else

APR

11.99%-23.99%

Variable

APPLY NOW Secured

on Discover Bank’s secure website

Rates & Fees

With the Discover it® Cashback Match™, earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, or wholesale clubs up to the quarterly maximum each time you activate. All other purchases get 1% cash back. You can redeem your cash back for any amount at any time. And your cash back never expires. Discover will match ALL the cash back earned at the end of your first year, automatically – only for new cardmembers. Our review explains the other features of this card.

10. Platinum Cash Rewards Visa from the Nusenda Credit Union – 5% in rotating categories, NO FEE

Platinum Rewards Card from Nusenda CU

Annual fee

$0 For First Year

$0 Ongoing

Cashback Rate

5% cash back on purchases in quarterly rotating categories

APR

10.00%-14.00%

Variable

APPLY NOW Secured

on Nusenda ’s secure website

5% cash rewards on groceries, gas expenses, movies, restaurants, home improvement, education and travel. This quarter, cardholders will earn cash back on restaurants, hotels and airfare purchases. There’s a cash back cap of $1,500 per quarter. Anyone can join the Nusenda Credit Union by donating $10 to the New Mexico Wilderness Alliance; contact a customer representative for details. The advantage of this card is that its categories tend to be more broad, and not store-specific like those on the Chase Freedom® and Discover it® Cashback Match™, so it’s a great way to get you closer to 5% rewards on everything you spend.

If you’re going to go through the effort of enrolling in a rewards program, consider all three cards to see which categories will benefit you the most. But, if you’re looking for freedom to spend without restrictions, sticking with the Citi® Double Cash Card may be your best simple bet.

Honorable mentions for travelers

No foreign transaction fees with plain cash back: Capital One® Quicksilver® Cash Rewards Credit Card – 1.5% Rewards

Capital One® Quicksilver® Cash Rewards Credit Card

Annual fee

$0

Cashback Rate

1.5%

APR

13.99%-23.99%

APPLY NOW Secured

on Capital One’s secure website

The Capital One® Quicksilver® Cash Rewards Credit Card gives you 1.5% cash back on all purchases. And like all Capital One credit cards, there are no foreign transaction fees. Even though you earn less rewards than the Citi® Double Cash Card or Fidelity American Express, this card is a better option for your international spending, since you avoid fees of 1 to 3%. To learn more, read our review.

Real airline miles: The Amex EveryDay® Credit Card from American Express

The Amex EveryDay® Credit Card from American Express is a $0 annual fee rewards credit card that earns Amex Membership Rewards points, which you can turn into real airline miles with several airlines, including Delta SkyMiles, Virgin Atlantic Flying Club, JetBlue True Blue, and Virgin America Elevate. It’s the only no annual fee card you can apply for online that can net you real Delta SkyMiles. When you want to convert points to Delta miles, just go to the Amex site, and transfer your points to Delta or the other participating airline programs any time. Read our review for more information. Terms Apply. See Rates & Fees.

Points for travel on any airline: Bank of America® Travel Rewards Credit Card

Bank of America® Travel Rewards Credit Card

Annual fee

$0

Rewards

1.5 points per dollar spent

APR

15.74%-23.74%

Variable

APPLY NOW Secured

on Bank Of America’s secure website

The Bank of America® Travel Rewards Credit Card earns a base 1.5 points per dollar spent, and you can use the points to erase travel purchases from your statement. Every 10,000 points is worth $100 when you use them for travel, so each point is worth one cent. Where the card gets interesting is if you’re a Bank of America customer with a checking, savings, or IRA account. If you are, you’ll get a 10% bonus on what you earn each year, so the card effectively earns you 1.65x points per dollar. Even better, if you’re a Platinum level member of Bank of America Preferred Rewards (which you get by keeping a lot of your money with them), you can earn up to 2.625x points per dollar, which is an incredible deal. There are also no foreign transaction fees to worry about.

How can you get the most value from a rewards credit card?

In order to best benefit from no annual fee rewards credit cards, follow these tips:

  • Narrow your focus: Before choosing a no annual fee rewards credit card (or cards), take a look at your budget and several months’ worth of bank statements. Then, pick cards that’ll offer you the most cash back for things you already buy. You shouldn’t change your spending habits to match a rewards program.
  • Give your rewards cards a job: Don’t spread out your spending onto too many cards without a purpose or you risk making less cash back overall. Choose a few cards and assign them a job so you know what purchases to make on each one to maximize your cash back.
  • Don’t get overzealous: Rewards shouldn’t justify overspending, especially if you’re struggling with debt. It’s a reward for making legitimate purchases. After all, you won’t make enough back to put a big dent in your monthly statement. For instance, $2,500 spent on the Fidelity American Express card equals a $50 deposit. It’s a great perk, but it shouldn’t be your sole reason for buying something.
  • Read the fine print: Understand the implications of each rewards program. For the rotating category cards, you get a huge amount of cash back, but you’ll have to strategize your spending each quarter to earn it. And you have to enroll into the program by the deadline to qualify. Set a reminder on your smartphone or calendar if necessary. You don’t want to miss out on a cash back category for an entire quarter.

Advertiser Disclosure: The card offers that appear on this site are from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all card companies or all card offers available in the marketplace.

Taylor Gordon
Taylor Gordon |

Taylor Gordon is a writer at MagnifyMoney. You can email Taylor at taylor@magnifymoney.com

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Best of

Best Cash Back Credit Cards for Gas – December 2017

The editorial content on this page is not provided by any financial institution and has not been reviewed, approved or otherwise endorsed by any of these entities.

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Gas in car_lg

Whether you’re hit by high gas prices in your area or you’re a heavy commuter, finding a credit card that offers a high rewards rate on gas purchases will definitely come in handy. There are cards that can earn you up to 5% cash back on eligible gas purchases, which can take the sting out of a stop to top off the tank.

Here are our top picks for gas credit cards.

Fort Knox Credit Union Visa® Platinum

Fort Knox Federal Credit Union Visa® Platinum Card

Annual fee

$0 For First Year

$0 Ongoing

Cashback Rate

5% back on all gas station spending, 1% on all other purchases

APR

10.25%-15.25%

Variable

APPLY NOW Secured

on Fort Knox Federal’s secure website

The Fort Knox Credit Union Visa® Platinum card offers unlimited 5% cash back on gas purchases. This is a great rate that can earn you significant rewards. There is also no annual fee. Since Fort Knox is a credit union, you will have to join in order to obtain this card. Anyone can join for $15, of which $5 represents one share in the credit union; the remaining $10 covers your one-time membership fee. This card is great for big spenders in gas who don’t mind working with a credit union.

 

NRA Complete Rewards® Visa® Card

NRA Complete Rewards® Visa® Card

Annual fee

$0 For First Year

$0 Ongoing

Cashback Rate

5% back at gas purchases and on sporting goods store purchases, 1% on other purchases

APR

16.99%-22.99%

Variable

APPLY NOW Secured

on NRA’s secure website

The NRA Complete Rewards® Visa® Card has a great unlimited rate for gas purchases at 5% cash back. Exclusions apply. Anyone can apply — NRA membership is not required, and there also is no annual fee. A gas purchase is any spending at service stations and automated fuel dispensers, as denoted by merchant category codes. You can redeem for cash, merchandise, gift cards and travel. There is a bonus of a $40 statement credit when you make your first purchase (which may take 6-8 weeks to post to your account).

Sam’s Club® Mastercard®

Sams Club MasterCard

Annual fee

$0 For First Year

$0 Ongoing

Cashback Rate

5% cash back on gas (on first $6,000 per year in purchases, then 1%), 3% on dining and travel, and 1% on other purchases

APR

11.65%

APPLY NOW Secured

on Sam's Club’s secure website

The Sam’s Club® Mastercard® offers 5% cash back on gas purchases (on the first $6,000 per year in purchases, then 1%). You need to be a Sam’s Club member to have this card, and annual memberships start at $45. Qualifying gas purchases include spending at gas stations, Sam’s Club fuel stations and Walmart fuel stations located in the U.S. and Puerto Rico; however, there are exclusions: Purchases at fuel stations at wholesale clubs (other than Sam’s Club), certain supercenters and supermarkets won’t earn 5%. Instead, they’ll earn 1%. Take note that the cash back redemption is limited to an annual check mailed out in February. You then have to go to a Sam’s Club to redeem your check.

Costco Anywhere Visa® Card by Citi

Costco Anywhere Visa® Card by Citi

Annual fee

$0

Cashback Rate

4% on eligible gas worldwide, including Costco (for the first $7,000 per year and then 1%), 3% on restaurant and eligible travel worldwide, 2% on all other purchases at Costco and Costco.com and 1% on everything else

APR

16.24%

APPLY NOW Secured

on Citibank’s secure website

The Costco Anywhere Visa® Card by Citi offers 4% cash back on eligible gas worldwide, (including Costco) for the first $7,000 per year, and 1% thereafter. Most gas credit cards limit you to only U.S. gas purchases and often exclude wholesale gas purchases, but not this card. In addition, you’ll earn 3% cash back on restaurant and eligible travel purchases worldwide, 2% on all other purchases at Costco and at costco.com, and 1% on everything else. There is no annual fee for this card, but you need to have a Costco membership (currently $60). The main catch with this card is it’s not simple to redeem rewards — cash back will be provided as an annual certificate in February billing statements, redeemable for cash or merchandise at US Costco Warehouses.

Wells Fargo Propel American Express® Card

Wells Fargo Propel American Express® Card

Annual fee

$0

Rewards

3X points at U.S. gas stations, 2X points at U.S. restaurants, 1X point on other purchases

APR

13.99%-25.99%

APPLY NOW Secured

on Wells Fargo Bank’s secure website

The Wells Fargo Propel American Express® Card earns 3X points at U.S. gas stations. There is no limit to the amount of rewards you can earn at this rate. In addition, earn 2X points at U.S. restaurants and 1X points on all other purchases. Points can be redeemed for cash by applying them to your qualifying Wells Fargo account or requesting a paper check. Keep in mind: Points expire after five years. You’ll also earn 20,000 bonus points after spending $1,000 in the first three months. Wells Fargo offers an annual relationship bonus of 10% on nonbonus rewards points if you maintain a qualifying consumer Wells Fargo checking or savings account, or Portfolio by Wells Fargo® product suite account.

Bank of America® Cash Rewards Credit Card

Bank of America® Cash Rewards Credit Card

Annual fee

$0

Cashback Rate

1% cash back on every purchase, 2% at grocery stores and wholesale clubs, and 3% on gas for the first $2,500 in combined grocery/wholesale club/gas purchases each quarter

APR

13.99%-23.99%

APPLY NOW Secured

on Bank Of America’s secure website

The Bank of America® Cash Rewards card offers a good cashback rate for gas purchases. You’ll earn 3% on gas purchases and 2% at grocery stores and wholesale clubs for the first $2,500 in combined grocery/wholesale club/gas purchases purchases each quarter. All other spending will earn 1%. There is no annual fee and if you redeem your cash back into a Bank of America checking or saving account you can receive a 10% bonus. Cardholders who will have the most benefit are Bank of America Preferred Rewards clients. As a Preferred Rewards client, you can increase your bonus to 25-75%, making your gas cash back an effective 3.75%-5.25%. There’s a sign-up bonus that can kickstart your rewards: If you apply online and spend $500 in the first 90 days of your account opening, you also receive a $150 cash rewards bonus.

 

Which card is the right fit for me?

Since there are many credit cards for you to maximize your rewards from gas purchases, it can be confusing to choose a card. There are cards that offer high rates without caps. Others come with additional bonus categories to consider.

The table below breaks down which gas card may be a good fit for you when factoring annual gas spending, cashback rate and annual fee. (Sign-on bonuses are not reflected.) Keep in mind: This only factors in spending on gas purchases and doesn’t consider if you spend in other categories or at the other cashback rates.

Here are several key takeaways:

  • The Bank of America® Cash Rewards Credit Card will earn you the most cash back ONLY if you’re a Preferred Rewards member with at least $100,000 in a BofA checking/savings account. Otherwise, the Fort Knox Credit Union Visa® Platinum and the NRA Complete Rewards® Visa® Card will earn you the most cash back.
  • Although the Costco Anywhere Visa® Card by Citi doesn’t earn you the most cash back, it may be a better fit for Costco shoppers due to the other high-cashback categories
  • The Wells Fargo Propel American Express® Card earns you subpar cash back compared with the others we reviewed.
  • You won’t earn the best cashback rate with the Bank of America® Cash Rewards Credit Card unless you’re a Bank of America Preferred Rewards client with $100,000 in a checking or savings account — allowing you to benefit from a 75% redemption bonus
  • The Sam’s Club® Mastercard® is a good option for current members who fuel up at Sam’s Club and spend $6,000 or less a year on gas.
  

Card

Fort Knox Credit Union Visa® Platinum

Costco Anywhere Visa® Card by Citi

Wells Fargo Propel American Express® Card

Bank of America® Cash Rewards Credit Card: without a BofA checking / savings

Bank of America® Cash Rewards Credit Card: with $100,000 in a BofA checking / savings

Sam's Club® Mastercard®

NRA Complete Rewards® Visa® Card

Spending

$1,000

$50

$40

$30

$30

$53

$50

$50

$2,000

$100

$80

$60

$60

$105

$100

$100

$3,000

$150

$120

$90

$90

$158

$150

$150

$4,000

$200

$160

$120

$120

$210

$200

$200

$5,000

$250

$200

$150

$150

$263

$250

$250

$6,000

$300

$240

$180

$180

$315

$300

$300

$7,000

$350

$280

$210

$210

$368

$310

$350

$8,000

$400

$290

$240

$240

$420

$320

$400

$9,000

$450

$300

$270

$270

$473

$330

$450

$10,000

$500

$310

$300

$300

$525

$340

$500

Advertiser Disclosure: The card offers that appear on this site are from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all card companies or all card offers available in the marketplace.

Alexandria White
Alexandria White |

Alexandria White is a writer at MagnifyMoney. You can email Alexandria at alexandria@magnifymoney.com

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Best of, Earning Cashback

Best Cash Back Cards for Grocery Shopping in December 2017

The editorial content on this page is not provided by any financial institution and has not been reviewed, approved or otherwise endorsed by any of these entities.

Advertiser Disclosure

groceries_lg

Shopping for groceries can be a painful experience. There are numerous aisles, thousands of items and long checkout lines to contend with. Then there’s one more blow: watching the dollars add up at the register.

But signing up for a solid cashback credit card can be a good way to earn a percentage of your grocery purchases back and take some of the sting out of that shopping trip.

Here are the best cashback cards for grocery shopping.

Blue Cash Everyday® Card from American Express

Blue Cash Everyday® Card from American Express

Annual fee

$0

Cashback Rate

3% at U.S. supermarkets, on up to $6,000 per year in purchases (then 1%), 2% at U.S. gas stations & select U.S. department stores, 1% on other purchases

APR

13.99%-24.99%

Variable

APPLY NOW Secured

on American Express Bank’s secure website

Terms Apply

Rates & Fees

The Blue Cash Everyday® Card from American Express, offers 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%) with a $0 annual fee. This is a great rate for habitual shoppers so long as you spend up to $3,167 a year at supermarkets. If you spend more than that, then you might be better off with the Blue Cash Preferred® Card from American Express, which comes with a $95 annual fee but higher cashback potential.

In addition to a high cash back rate on groceries, you earn 2% cash back at U.S. gas stations and select U.S. department stores, and 1% on other purchases. The Welcome Offer of a $150 statement credit after you spend $1000 in purchases on your new Card within the first 3 months is a good way to maximize your rewards.

Blue Cash Preferred® Card from American Express

Blue Cash Preferred® Card from American Express

Annual fee

$95

Cashback Rate

6% at U.S. supermarkets on up to $6,000 per year in purchases (then 1%), 3% at U.S. gas stations and select U.S. department stores, 1% on other purchases

APR

13.99%-24.99%

Variable

APPLY NOW Secured

on American Express Bank’s secure website

Terms Apply

Rates & Fees

The Blue Cash Preferred® Card from American Express offers the highest cashback rate for big grocery spenders — 6% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). This card does come with a $95 annual fee and you need to spend $1,584 a year on groceries to break even. If you spend $3,167 a year ($264 a month) or more on groceries you will benefit from this card more than the Blue Cash Everyday® Card from American Express. You’ll also earn a high 3% cash back at U.S. gas stations and select U.S. department stores and 1% back on other purchases. There’s an added Welcome Offer: $200 statement credit after you spend $1000 in purchases on your new Card within the first 3 months.

Bank of America® Cash Rewards Credit Card

Bank of America® Cash Rewards Credit Card

Annual fee

$0

Cashback Rate

1% cash back on every purchase, 2% at grocery stores and wholesale clubs, and 3% on gas for the first $2,500 in combined grocery/wholesale club/gas purchases each quarter

APR

13.99%-23.99%

APPLY NOW Secured

on Bank Of America’s secure website

The Bank of America® Cash Rewards card offers a decent cashback rate for groceries, however it is lower than what you’ll find with competing cards. You’ll earn 2% cash back at grocery stores and wholesale clubs and 3% on gas for the first $2,500 in combined grocery/wholesale club/gas purchases each quarter. All other spending will earn 1%. There is no annual fee and you can redeem your cash back directly into a Bank of America checking or saving account for a 10% bonus. People who will benefit most from this card are those who are Bank of America Preferred Rewards clients. As a Preferred Rewards client, you could increase your bonus to 25-75%, making your grocery cash back an effective 2.5-3.5%. If you apply online and spend $500 in the first 90 days, you also receive a $150 online cash rewards bonus.

Huntington Voice Credit Card®

Huntington Voice Credit Card®

Annual fee

$0 For First Year

$0 Ongoing

Rewards

3X points in one of 13 categories (capped at $2,000 each quarter or 6000 points), and all other purchases earn 1X points

APR

13.99%-26.99%

APPLY NOW Secured

on Huntington National Bank’s secure website

The Huntington Voice Credit Card® has no annual fee and earns you 3X points in one of 13 categories. Simply choose to earn 3X points at grocery stores once you open your account. The rewards you earn at the 3X rate are capped at $2,000 each quarter or 6000 points, with all other purchases earning 1X points. You also have the freedom to change your 3X category every quarter to suit your spending. But be aware that if you switch from grocery stores to another category, you’ll only earn 1X points on grocery spending. Points can be redeemed for cash and 1 point equals $0.01, therefore 5,000 points is equal to $50 cash rewards.

Which card is the right fit for me?

With numerous credit cards available to help maximize your grocery rewards, it can be confusing to know which to choose. Some cards provide unlimited rewards at a high rate, while most have caps on grocery spending.

The table below breaks down which grocery card may be a good fit for you when factoring in annual grocery spending, cashback rate and annual fee. (Sign-on bonuses are not reflected.) Keep in mind: This only factors in spending on grocery purchases and doesn’t consider if you
spend in other categories or at the other cashback rates.

Here are a few key takeaways:

  • If you spend about $3,000 a year on groceries, you will benefit more from the Blue Cash Everyday® Card from American Express or the Huntington Voice Credit Card®.
  • If you spend more than $4,000 a year, you will benefit more from the Blue Cash Preferred® Card from American Express.
  • The Bank of America® Cash Rewards Credit Card earns you subpar cash back unless you have $100,000 in a Bank of America checking or savings account.
  

Card

Huntington Voice Credit Card®

Blue Cash Everyday® Card from American Express

Blue Cash Preferred® Card from American Express

Bank of America® Cash Rewards Credit Card: without BofA checking/
savings

Bank of America® Cash Rewards Credit Card: with $100,000 in BofA checking/
savings

Spending

$1,000

$30

$30

-$35

$20

$35

$2,000

$60

$60

$25

$40

$70

$3,000

$90

$90

$85

$60

$105

$4,000

$120

$120

$145

$80

$140

$5,000

$150

$150

$205

$100

$175

$6,000

$180

$180

$265

$120

$210

$7,000

$210

$190

$275

$140

$245

$8,000

$240

$200

$285

$160

$280

$9,000

$250

$210

$295

$180

$315

$10,000

$260

$220

$305

$200

$350

Advertiser Disclosure: The card offers that appear on this site are from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all card companies or all card offers available in the marketplace.

Alexandria White
Alexandria White |

Alexandria White is a writer at MagnifyMoney. You can email Alexandria at alexandria@magnifymoney.com

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The Best Cash Back Credit Cards for Every Category – 3% and More in December 2017

The editorial content on this page is not provided by any financial institution and has not been reviewed, approved or otherwise endorsed by any of these entities.

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Note from the Editor: The information related to SimplyCash Plus Business Credit Card from American Express credit card has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card.

MagnifyMoney keeps a database of over 2,000 credit cards and their features, including cash back cards you can compare with our tool. We used it to find the absolute highest cash back rewards you can earn in each category, more than the standard 1-2% you usually see.

If you’re ready for cash back there are over 25 categories where you can earn 3% or more in pure cash back on your credit card purchases.

Scroll down and you’ll find links to the best cash back credit cards we’ve found that earn more than 2% cash back in special categories. These are cards that let you get pure cash value, not complicated points that can be used only for travel.

Before you dig into categories, every cash rewards wallet should have one of these cards, with double cash back on everything you spend and $0 annual fee:

Citi® Double Cash Card – 18 month BT offer

Annual fee

$0*

Cashback Rate

1% when you buy, 1% when you pay

APR

14.49%-24.49%

Variable

APPLY NOW Secured

on Citibank’s secure website

Fidelity® Rewards Visa Signature® Card

Annual fee

$0

Cashback Rate

2% on all spend

APR

14.99%

Variable

APPLY NOW Secured

on Fidelity’s secure website

Once you have one of these, you can add other cards that earn more than 2% in special categories to really boost your cash rewards.

The best cash back credit cards with no limit rewards

Maybe you don’t want to mess with rotating categories or remembering limits on cash back. If that’s you, there are only a handful of cards that you need to carry to get the most in totally unlimited cash back.

As you’ll learn below, you may be leaving about $500 a year or more on the table by not holding at least some of these cards.

They are all no annual fee cards, and they ensure you will earn more than 2% cash back on your total spending with absolutely no limits. Some cards have higher cash back rates with limits, and you can see those below this list in our review of cards for each category.

Airfare – 4.25%

PenFed Premium Travel Rewards American Express® Card

Annual fee

$0

Rewards

5x points on airfare purchases, 1x on all other purchases

APR

9.74%-17.99%

Variable

APPLY NOW Secured

on PenFed Credit Union’s secure website

This card advertises 5x points on airfare, but there is a bit of a catch. When you redeem the points it earns for the closest thing to cash, a prepaid Visa card, your points are worth about 0.8 cents each, so that 5x points is really about 4.25% cash back on your airfare spending.

Travel – 3%

AAA Member Rewards Visa Signature® Card

Annual fee

None

Cashback Rate

3 points for eligible travel & AAA purchases, 2 points on gas, grocery store, and drugstore purchases, and 1 point per $1 for all other purchases

APR

13.24%-23.24%

APPLY NOW Secured

on Bank Of America’s secure website

While the PenFed Premium Travel Rewards American Express® Card wins for airfare spending, the AAA Member Rewards Visa Signature® card offers 3% back on airfare, plus all kinds of travel, including hotels, car rentals, and cruises. You don’t have to be a AAA member to get the card.

Supermarkets – 2.55%

PenFed Platinum Rewards Visa Signature® Card

Annual fee

$0 For First Year

$0 Ongoing

Rewards

5x points on gas at the pump, 3x points at supermarkets, 1x points on all other purchases

APR

9.74%-17.99%

APPLY NOW Secured

on PenFed Credit Union’s secure website

The card earns 3x points on supermarkets, but the points are worth about 0.85 cents each when you redeem them for a prepaid Visa gift card, so the real unlimited cash back rate is about 2.55%.

If you spend less than $6,000 a year ($500 a month) on groceries, then the Blue Cash Preferred® Card from American Express offers 6% back on the first $6,000 each year. Terms Apply – See Rates & Fees. The $95 annual fee on this card is a better deal vs the PenFed Platinum Rewards Visa Signature® Card if you spend about $3,000 a year in groceries (about $250 a month).

Note that if you live in California, you may earn 3% unlimited cash back on groceries with the Platinum Rewards Credit Card from Golden 1 Credit Union.

Gas – 5%

Fort Knox Federal Credit Union Visa® Platinum Card

Annual fee

$0 For First Year

$0 Ongoing

Cashback Rate

5% back on all gas station spending, 1% on all other purchases

APR

10.25%-15.25%

Variable

APPLY NOW Secured

on Fort Knox Federal’s secure website

You might not have heard of this credit union, but anyone can join. You just need to pay $5 to join the American Consumer Council / Kentucky and you’re eligible.

Other options include the NRA Complete Rewards® Visa® Card also offering 5% cash back (no NRA membership required), and the Sam’s Club MasterCard® with 5% at the pump on up to $6,000 worth of gas purchases a year, but you need to be a Sam’s Club member to hold the card.

Dining – 4%

Uber Visa Card

Annual fee

$0 For First Year

$0 Ongoing

Cashback Rate

4% back on dining, 3% back on hotel and airfare, 2% back for online purchases, and 1% on everything else

APR

15.99%-24.74%

variable

This card earns 4% back on dining purchases which includes restaurants, takeout, bars and UberEATS. You will also earn 3% back on hotels and airfare, including vacation home rentals, 2% back for online purchases including Uber, web shopping, video and music streaming services; and 1% on all other purchases.

Everything else: Citi® Double Cash Card (up to  1% + 1%) or Fidelity® Rewards Visa Signature® Card (2%)

If you’re willing to pay an annual fee, the Alliant Cashback Visa® Signature Credit Card card earns 2.5% cash back unlimited. The $59 fee is worthwhile if you spend over $1,000 a month on the card. Alliant is targeting this card to people with high income who spend $10,000 or more a month, so it might be tough to get approved.

If you have a military affiliation, USAA offers some members the Limitless™ Cashback Rewards Visa Signature® Card, with 2.5% unlimited cash back if you make $1,000 a month in direct deposits to USAA. This card is only targeted to select members, so you won’t see it advertised on their website and no guarantees you will be offered the card.

Or if you live in California, the Marukai Premium JCB Card gives you up to 3% cash back points on all purchases beyond $3,000 in yearly spending.

Just mark each of the cards you pick in your wallet with a sticker for each category so you remember which to use, and you’ll rack up lots of cash with minimal hassle. And afraid to have more than one card? Well if you’re responsible with credit, a few additional inquiries might have less of an impact than you think. See our experience with scores and getting several cards for the rewards.

For unlimited retailer-specific discounts, also consider:

If you want to maximize absolutely everything, read on…

We’ve organized cash back cards for each of the over 25 spending categories that are currently eligible for more than 2% in cash back rewards.

They include both year round and quarterly rotating categories like those on the Discover it® Cashback Match™. Pick the categories that matter most to you, and you’ll see the opportunities you have to earn 3-5% if you’re willing to keep track of some limits and quarterly changes.

Remember, these are all cards that let you earn cash value rewards, with no restriction on where you spend the rewards, unlike travel points.

You’ll find three flavors of cash back rewards, in the order of hassle factor:

  • Unlimited cash back – This is the simplest form. You usually won’t find the very highest 5%+ rewards this way, but we’ve found some great cards that get you 3% or more in some popular categories.
  • Cash back with limits – This is where a card limits the cash back you earn by putting a cap on the spending which earns the cash back in the specific category, on a combination of categories, or the card as a whole.
  • Quarterly rotating categories – These are the cards with the big headline 5% rates. Don’t be fooled. While you can earn the 5% rate, you may have to opt in to categories each quarter manually and be hit with caps on how much you can earn.

Advertising Services

With Limits

3%: SimplyCash® Plus Business Credit Card – up to $25,000 in purchases in bonus categories. Terms Apply.

Airfare

Unlimited

With limits

Quarterly category in 2017

  • 5%: Nusenda Credit Union Cash Rewards – Oct – Dec 2017 – up to $1,500 – Anyone can join the Nusenda Credit Union (formerly the New Mexico Educators Credit Union) by becoming a member of the La Montanita Food Co-op.

Amazon.com

Unlimited

5% Quarterly Category in 2017

Bookstores

With limits

  • 5%: U.S. Bank Cash+ up to $2,000 / quarter across two 5% categories you choose

Car Rentals

Unlimited

With limits

Cell phone

With limits

    • 5%: U.S. Bank Cash+ up to $2,000 / quarter across two 5% categories you choose
    • 5%: SimplyCash® Plus Business Credit Card – up to $50,000 in bonus purchases a year. Terms Apply.

Cellular Phone / Landline / Internet / Cable TV

Clothing Stores

With limits

Commuting, Taxis

Unlimited

Department Stores

Select U.S. department stores. See the list here.

With limits

Quarterly category in 2017

  • 5%: Citi Dividend – October – December 2017 – up to $300 total cash back on card (no longer open to new applicants)

Discount stores

Drug stores

With limits

Education

Quarterly category in 2017

  • 5%: Nusenda Credit Union Cash Rewards – July – Sept 2017 – up to $1,500 – Anyone can join the Nusenda Credit Union (formerly the New Mexico Educators Credit Union) by becoming a member of the La Montanita Food Co-op.

Electronics

With limits

Quarterly category in 2017

  • 5%: (Best Buy only) Citi Dividend – October – December 2017 – up to $300 total cash back on card (no longer open to new applicants)

Furniture

With Limits

  • 5%: U.S. Bank Cash+ up to $2,000 / quarter across two 5% categories you choose

Quarterly Category in 2017

  • 5%: Citi Dividend – January – March 2017 – up to $300 total cash back on card (no longer open to new applicants)

Gas

Unlimited

With limits

Quarterly category in 2017

Supermarket Spending

Unlimited

With limits

Quarterly category in 2017

Gyms

With Limits

  • 5%: U.S. Bank Cash+ up to $2,000 / quarter across two 5% categories you choose

Home improvement

No limits

With limits

Quarterly category in 2017

Hotels

Unlimited

With limits

Quarterly category in 2017

  • 5% – Nusenda Credit Union Cash Rewards – Oct – Dec 2017 – up to $1,500
  • 5%: (Hilton Hotels only) Citi Dividend – July – September 2017 – up to $300 total cash back on card (no longer open to new applicants)

Movie Theaters

With Limits

  • 5%: U.S. Bank Cash+ up to $2,000 / quarter across two 5% categories you choose

Quarterly category in 2017

Office Supply Stores

With limits

Restaurants

Unlimited

With Limits

Quarterly category in 2017

Shipping

  • 3%: SimplyCash® Plus Business Credit Card- up to $25,000 in purchases in bonus categories. Terms Apply.

Sporting Goods Stores

Unlimited

With limits

Target

Unlimited

Trains, Cruises, Other Vacation

Unlimited

With limits

Utilities

Walmart

Warehouse Clubs

Advertiser Disclosure: The card offers that appear on this site are from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all card companies or all card offers available in the marketplace.

Nick Clements
Nick Clements |

Nick Clements is a writer at MagnifyMoney. You can email Nick at nick@magnifymoney.com

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Best Cash Back Sign-On Bonus Credit Cards of December 2017

The editorial content on this page is not provided by any financial institution and has not been reviewed, approved or otherwise endorsed by any of these entities.

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Temptation_large

Do you normally use your credit card for making every day purchases? Can you manage your money responsibly and pay off your balance in full every month? If so, you should be using a rewards credit card to take advantage of the free cash back and bonuses that are offered.

Many credit card companies are offering cash back rewards and sign-up bonuses these days. You can earn an equivalent of $400 or more just keeping to your regular spending. It’s essentially free money, as long as you use your credit card correctly.

Let’s take a look at how you can be a responsible consumer first, and then we’ll review the credit cards with the best cash back sign-on bonuses.

How to Be Responsible With Your Credit Card

Before we recommend credit cards with the best sign-on bonus, we want to make sure you understand exactly how rewards credit cards should and shouldn’t be used.

You shouldn’t try and take advantage of a rewards credit card by charging anything and everything to it. Yes, you acquire cash back or points based on your purchases, but you’re also acquiring debt if you charge more than you can afford.

You should use a rewards credit card exactly as you would use any other credit card (or your debit card). Only swipe for what you can afford to pay at the end of your billing cycle.

While many of these cards have 0% introductory APRs, after the introductory period is over, you’ll have high APRs (in the 14% – 24% range). If you carry a balance, any cash back you receive will be negated by the interest you’ll have to pay.

Only charge your necessary expenditures and stick to your budget. Don’t look for extra opportunities to pay more just for the sake of getting points.

You want to take advantage of credit card companies – not have it the other way around.

Best Cash Back Sign-On Bonuses

Now that you know how to use rewards cards, let’s review the best options out there.

Uber Visa Card

  • You have to spend $500 on purchases in the first 90 days to receive the $100 bonus.
  • There is no annual fee.
  • Earn 4% back on restaurants, takeout and bars, including UberEATS; 3% back on hotel and airfare, including vacation home rentals; 2% back for online purchases including Uber, online shopping, video and streaming music services; and 1% back for everything else.
  • Earn up to a $50 credit for online subscription services after you spend $5,000 or more on your card per year.
  • The variable APR is 15.99%, 21.74% or 24.74%.
  • There is no foreign transaction fee.

This card is not only great for its sign-up bonus requiring a low spend, but also for the great 4-3-2-1 rewards program.

Read our full review here >

Uber Visa Card

Wells Fargo Propel 365 American Express® Card

  • You have to spend $3,000 in the first 3 months to receive the 20,000 bonus points
  • There’s an annual $45 fee, which is waived for the first year
  • You earn 3x the points at U.S. gas stations, 2x the points at U.S. restaurants, and 1x the points on all other net purchases
  • You can redeem points for travel, merchandise, cash back, gift cards, and more
  • Points can be redeemed for cash by applying them to your qualifying Wells Fargo account or requesting a paper check. Cash redemption options are available by phone and online in increments of $25 only.
  • You can get an additional annual bonus of 10%, 25%, or 50% on non-bonus rewards points if you have a qualifying consumer Wells Fargo Checking or Savings Account
  • There’s an introductory APR of 0% for the first 12 months on balance transfers and purchases, and after that, the variable APR ranges from 14.99% – 22.99%
  • There are no foreign currency conversion fees
  • There’s a late and returned payment fee up to $37
  • Up to $100 off qualifying air + hotel packages at destinations worldwide

This card is a great option if you’re already a customer with Wells Fargo because of the relationship bonus offered.

Wells Fargo Propel 365 American Express® Card

APPLY NOW Secured

on Wells Fargo Bank’s secure website

Visa® Signature Elite Card from NEFCU

  • You have to spend $2,000 in the first 3 months for 20,000 points
  • Those 20,000 points are redeemable for travel, merchandise, gift cards, and more. These points are not redeemable for a cash equivalent
  • You earn 1.25 points per $1 spent, which can be redeemed for travel, merchandise, gift cards and more
  • The points to cash option allows members to use points to make a NEFCU Visa Signaure Elite Credit Card payment or a cash deposit to their NEFCU accounts. There is a $25 minimum per conversion.
  • Rates range from 11.99% – 17.99% APR on the Visa® Signature Elite Card
  • No annual fee

This card requires a membership to NEFCU, a credit union located on Long Island, NY. If you live, work, worship, attend school, or regularly conduct business in Nassau or Suffolk County, you’re eligible for membership. If a relative is already a member, he or she can sponsor you.

Visa Signature Elite Card from NEFCU

APPLY NOW Secured

on NEFCU’s secure website

Wells Fargo Rewards® Card

  • You have to spend $1,000 in the first 3 months to receive 20,000 bonus points (note this is an online only offer)
  • You can earn 5% cash back for every $1 you spend on groceries, gas, and drugstore net purchases for 6 months on up to $12,500 spent, plus 1% for every $1 spend on all other purchases
  • You can redeem points for travel, merchandise, cash back, gift cards, and more
  • Points can be redeemed for cash by applying them to your qualifying Wells Fargo account or requesting a paper check. Cash redemption options are available by phone and online in increments of $25 only.
  • There’s no annual fee
  • There’s a 0% introductory APR for the first 12 months on balance transfers and purchases. The variable APR then ranges from 18.15% – 26.99% based on your creditworthiness
  • There’s a late fee and returned check fee up to $37
  • The foreign exchange currency conversion fee is 3%

This is a good “every day” rewards card to carry with you. You’re automatically enrolled in the Wells Fargo Rewards Program when you get this card.

You need a Wells Fargo account to apply online, though you can also apply at a branch.

Wells Fargo Rewards Visa® card

APPLY NOW Secured

on Wells Fargo Bank’s secure website

Use Cash Back Credit Cards With Caution

As you can see, some of these cards come with annual fees and introductory APRs that are great for the first year. However, some of the benefits might not be good enough to warrant keeping the card once that year is over.

Keep in mind that “credit card churning” – canceling your cards after the first year and applying for a new one – will have an effect on your credit score. It might not be huge, but it’s a good idea to avoid this practice if you’ll be making an important purchase in the near future (like buying a home).

Otherwise, take advantage of credit card companies and save money on travel, gift cards, and more. You should absolutely earn points on your regular purchases by spending with a rewards credit card.

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Advertiser Disclosure: The card offers that appear on this site are from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all card companies or all card offers available in the marketplace.

Erin Millard
Erin Millard |

Erin Millard is a writer at MagnifyMoney. You can email Erin at erinm@magnifymoney.com

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7 Best Cash Back Credit Cards for Dining Out in December 2017

The editorial content on this page is not provided by any financial institution and has not been reviewed, approved or otherwise endorsed by any of these entities.

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iStock

If you’re someone who frequently dines out, cashback credit cards that reward you for it are a great way to put money back in your pocket. Cashback cards for dining can earn you rewards for purchases made through restaurants, bars and takeout establishments. This is a great way for foodies to reap extra rewards just by doing what they love — eating!

We picked the following cards because they offer competitive cashback rates above 2% for dining-related purchases, as well as have low or no annual fees. As with most rewards credit cards, you may lose your cashback rewards if your account is not in good standing.

Uber Visa Card – 4% cash back

Uber Visa Card

Annual fee

$0 For First Year

$0 Ongoing

Cashback Rate

4% back on dining, 3% back on hotel and airfare, 2% back for online purchases, and 1% on everything else

APR

15.99%-24.74%

variable

The Uber Visa Card offers unlimited 4% back on dining purchases that will benefit the biggest foodies. Additionally, earn 3% back on hotels and airfare, including vacation home rentals; 2% back on online purchases that include Uber, online shopping and video and music streaming services; and 1% back on all other purchases. Dining purchases include those made at restaurants, fast-food restaurants, bars and UberEATS. Your rewards come in the form of points with a value of $0.01 per point (so 2,500 points can be redeemed for a $25 statement credit, for example). Another cool perk: There is a great sign-up bonus of 10,000 points (worth $100) if you spend $500 within the first 90 days of account opening. You can read our full review here.

AARP® Credit Card from Chase – 3% cash back

AARP® Credit Card from Chase Bank

Annual fee

$0 For First Year

$0 Ongoing

Cashback Rate

3% cash back at restaurants and gas station purchases, 1% on everything else

APR

16.49%

Don’t be led astray by the name: This card isn’t limited to people over 50 — anyone can apply. The AARP® Credit Card from Chase offers 3% cash back at restaurants (including fast food) and gas station purchases, and all other purchases will earn 1%. There is a great sign-up bonus of $200 after you spend $500 on purchases in the first three months from account opening.

The information related to the AARP® Credit Card from Chase has been collected by MagnifyMoney.com and has not been reviewed or provided by the issuer of this card.

Sam’s Club Mastercard® – 3% cash back

Sams Club MasterCard

Annual fee

$0 For First Year

$0 Ongoing

Cashback Rate

5% cash back on gas (on first $6,000 per year in purchases, then 1%), 3% on dining and travel, and 1% on other purchases

APR

11.65%

APPLY NOW Secured

on Sam's Club’s secure website

The Sam’s Club Mastercard® offers 3% cash back on restaurant purchases (excluding purchases at wholesale clubs other than Sam’s Club). You will also earn 5% cash back on gas (on the first $6,000 per year in purchases, then 1%), 3% on travel and 1% on other purchases. From now until Dec. 31, you can receive a $45 statement credit if you open your card online and make a $45 purchase on Samsclub.com on the same day you open your account. However, you do need a Sam’s Club membership to apply, and current membership fees start at $45 per year.

Take note that you’re limited to earning a maximum of $5,000 in cashback rewards in a calendar year. Checks are issued each February for the cash back earned during the previous calendar year. You will lose any cash back you earned if you end your membership or let it lapse, or if you accumulate less than $5 cash back in a calendar year.

Costco Anywhere Visa® by Citi – 3% cash back

Costco Anywhere Visa® Card by Citi

Annual fee

$0

Cashback Rate

4% on eligible gas worldwide, including Costco (for the first $7,000 per year and then 1%), 3% on restaurant and eligible travel worldwide, 2% on all other purchases at Costco and Costco.com and 1% on everything else

APR

16.24%

APPLY NOW Secured

on Citibank’s secure website

The Costco Anywhere Visa® by Citi requires a Costco membership (currently, annual memberships start at $60) and offers 3% cash back on restaurant purchases, including at cafes, bars, lounges and fast-food restaurants. Take note that purchases made at bakeries and certain restaurants/cafes in department stores, groceries or warehouse clubs will only earn 1%. In addition, earn 4% on eligible gas worldwide, including Costco (for the first $7,000 per year and then 1%), 3% on eligible travel worldwide, 2% on all other purchases at Costco and Costco.com and 1% on everything else, including the nonqualifying purchases listed above.

Cash back comes as an annual credit card reward certificate in February billing statements, redeemable for cash or merchandise at U.S. Costco Warehouses. You must maintain your Costco membership to receive rewards, and you will also lose rewards if you accumulate less than $1 in cash back or if you don’t redeem them by the end of the year.

Capital One® SavorSM Cash Rewards Credit Card – 3% cash back

The Savor℠ card From Capital One

Annual fee

$0

Cashback Rate

3% on dining, 2% on groceries, 1% on all other purchases

APR

15.49%-24.49%

APPLY NOW Secured

on Capital One’s secure website

The Capital One® SavorSM Cash Rewards Credit Card enables you to  earn unlimited 3% cash back on dining, as well as 2% on groceries and 1% on all other purchases. Also, there is a one-time $150 cash bonus after you spend $500 on purchases within the first three months from account opening. (The card website specifies that the one-time bonus is available by applying through the site, and may not be available if an applicant navigates away from the page. Also, the bonus may not be available for existing or previous accountholders.)

Alternatives: Rotating Cashback Categories

Chase Freedom® – 5% cash back

Chase Freedom<sup>®</sup>

Annual fee

$0

Cashback Rate

5% on certain categories, 1% on everything else

APR

15.99%-24.74%

Variable

APPLY NOW Secured

on Chase’s secure website

The Chase Freedom® card offers rotating bonus categories that earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter (then 1%). All other purchases will earn 1% cash back. This past July through September, the bonus category was restaurants. Through the rest of this year, October-December, is Walmart. You must activate the bonus category to earn at the higher rate. You can also earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening.

Discover it® Cashback Match™ – 5% cash back

Discover it® - Cashback Match<sup>TM</sup>

Annual fee

$0

Cashback Rate

5% on certain categories, 1% on everything else

APR

11.99%-23.99%

Variable

APPLY NOW Secured

on Discover Bank’s secure website

Rates & Fees

The Discover it® Cashback Match™ offers 5% cash back in different places (on up to $1,500 in purchases each quarter, then 1%) and 1% on all other purchases. Restaurants are slated to be a bonus category from July 1 through Sept. 30, 2018. Set a reminder to activate the bonus category. In addition to a cashback program, Discover is offering a first year cashback reward in which it will automatically match all the cash back you’ve earned at the end of your first year.

Are these deals the best for you?

Cashback rewards should only be pursued by responsible credit users who have no trouble paying off their balance on time and in full every month. If you’re a credit all-star who also has an affinity for dining out, these cards will provide the best perks.

If you’re apt to carry a balance, check out our picks for the best credit cards that can help you pay down debt faster.

As always, check the fine print on each card before signing up, taking special note of any fees. With those things in mind, decide which rewards structure best serves your typical spending activity and enjoy the cashback benefits — and the good eats.

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Advertiser Disclosure: The card offers that appear on this site are from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all card companies or all card offers available in the marketplace.

Alexandria White
Alexandria White |

Alexandria White is a writer at MagnifyMoney. You can email Alexandria at alexandria@magnifymoney.com

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Earning Cashback, Reviews

Is the Amazon Rewards Visa Signature Card or Amazon Prime Store Card Better for Your Amazon Purchases?

The editorial content on this page is not provided by any financial institution and has not been reviewed, approved or otherwise endorsed by any of these entities.

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Review - Amazon Rewards Visa Card or Amazon Prime Store

For loyal Amazon shoppers, a credit card that will give you money back for spending only makes sense. There are three options:

  • Amazon Prime Rewards Visa Signature Card (from Chase) – 5% back, and our top choice
  • Amazon Rewards Visa Signature Card (also from Chase) – 3% back
  • Amazon Prime Store Card (from Synchrony, can only be used at Amazon) – 5% back

The good news: if you are an Amazon Prime member, it is easy to get 5% cash back from all of your Amazon spending all year long. And if you spend a lot of money at Amazon, the savings can be significant.

Note: The information related to the Amazon Prime Rewards Visa Signature Card, Amazon Rewards Visa Signature Card, and Amazon Prime Store Card has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card.

Amazon Prime Rewards Visa® Signature Card5% at Amazon: The Amazon Prime Rewards Visa Signature Card 

With this credit card, you get 5% back at Amazon.com with an eligible Prime membership.

You also earn 2% back at restaurants, gas stations and drug stores. And you will earn 1% back on everything else.

There is no annual fee, no earning caps and no foreign transaction fees.

How the points work

When you use your card, you will actually be earning points.

You would earn 5 points for every $1 you spend at Amazon.com, 2 points for every $1 spent at restaurants, gas stations and drug stores and 1 point for every $1 spent everywhere else.

You can choose to redeem those points at Amazon (during checkout) or through Chase.

When you check out at Amazon, you will see your point balance and would be able to apply those points to your purchase. Every 100 points = $1.

But you can also redeem those points through Chase and get cash back, gift cards or travel. If you want cash back or gift cards, the value is the same as using the points at Amazon to shop. Every 100 points = $1.

You will also receive a $70 Amazon.com gift card instantly upon approval. The best part is you do not have to spend a certain amount of money in order to get the gift card.

If you are already enjoying the benefits of Amazon Prime, this card is an obvious choice.

But if you are thinking about Amazon Prime, this card is a great way to try it out.

If you spend $99 for Amazon Prime membership and then apply for this card, you will immediately get $70 of it back in the form of an Amazon gift card. You can learn more about the card at Amazon.

Amazon.com Rewards Visa Card from Chase Bank 3% at Amazon: Amazon Rewards Visa Signature Card

You can also get 2% back at gas stations, drugstores and restaurants. On other purchases you get 1% back. So everything is the same as the Amazon Prime Rewards Visa Signature Card, except you earn only 3% at Amazon instead of 5%.

Just like the Amazon Prime Rewards Visa Signature Card, cash back is tracked with a point system. 1 point equals $0.01. For example, if you spend $100 on Amazon.com, you’ll get $3 in cash back, which equals 300 points. You can trade in points for statement credit, travel or gift cards. Points never expire unless your account is closed and there’s no rewards cap.

The card doesn’t have a 0% introductory promo period. As a rule of thumb, you should avoid transferring a balance to a card you want to use for rewards. This card has an exceptionally high balance transfer fee ($5 or 5% of the amount of each transfer, whichever is greater) and no 0% introductory promo period; two major red flags for a balance transfer.

After approval, the card gives a $50 Amazon.com gift card loaded to your Amazon.com account. The Amazon Rewards Visa Signature Card has no annual fee and you can learn more here.

Amazon Prime Store Card 5% at Amazon: Amazon Prime Store Card

The card can be used on Amazon.com and on other merchant sites that have the Amazon Prime Store Card option activated for payment. However, the card can’t be used for the following: textbook rentals, digital and print + digital subscriptions (including newspapers and magazines), cell phones associated with a plan, purchases on Amazon subsidiaries, digital add-on subscriptions (e.g. Starz, Hulu, GameFly, etc.), Prime Now items.

You can redeem cash back for statement credit until instructed otherwise. In the fine print, Amazon reserves the right to change the cash back program into a rewards program where you redeem points for products instead.

If you end your Amazon Prime Membership, your Amazon Prime Store Card will become a regular Amazon Store Card that doesn’t earn 5% cash back. There’s no annual fee on the card, but Prime membership does cost $99 per year.

This card offers special financing on all orders of $149 or more. You will pay no interest if your balance is paid in full within 6, 12, or 24 months as applicable. If you don’t pay off your balance within the promotional period, interest will be charged to your account from the purchase date. Minimum monthly payments are required. Learn more about the terms on here.

Pros and Cons

Amazon Rewards Visa Signature Cards

Pro: Multiple bonus categories. Sure, you shop on Amazon.com, but you probably shop elsewhere too. With this card you’ll get an extra bonus for shopping online plus cash back in other areas that fulfill everyday needs like filling up your gas tank. You also have flexibility to redeem cash back in multiple ways.

Pro: No annual fee. Earning cash back from each category is free, no annual fee.

Pro: A gift card once approved. When you get approved you’ll get either a $70 (Amazon Prime Rewards Visa Signature Card) or $50 (Amazon Rewards Visa Signature Card) gift card right away you can use to shop.

Pro: 3% or 5% cash back when you pay for Amazon Prime Membership. Amazon Prime Membership comes with free two-day shipping and unlimited TV and movie screening with Prime Video. What devoted Amazon shopper doesn’t want that? An added benefit with this card is double-dipping. You get the Prime perks and cash back for paying for them.

Pro: High cash back for Prime members. If you’re a Prime member, you can get 5% cash back. You likely won’t be able to beat that rate.

Con: No intro APR. Since most credit cards have some type of introductory interest rate, a card that doesn’t have one stands out. You’ll need to pay off the balance each month starting from the very beginning to benefit from rewards earned.

Con: Tougher approval. You may need better credit to get these cards from Chase than the Amazon Store Card from Synchrony, which has a much higher interest rate.

Amazon Prime Store Card

Pro: 5% cash back. This is a huge amount of cash back for faithful Amazon shoppers. You’ll get rewarded handsomely for spending. And the redemption process is easy; your cash back is used for statement credit. One thing to keep in mind is it may take up to two billing cycles for the money to appear on your account.

Pro: Easier approval. This is a store card limited to Amazon purchases, so you might find it easier to get approved for this card with less than perfect credit.

Pro: No annual fee. The Amazon Prime Store Card doesn’t have an annual fee.

Con: A very high APR for everyone: This card charges a 26.99% APR for everyone, regardless of credit score. Yes, even an 850 FICO would still get you a horrible 26.99% interest rate. Never borrow with this card.

Con: Fine print. The fact that you can’t use this card for software downloads on Amazon sticks out as a negative. Amazon sells software downloads including TurboTax, QuickBooks and Norton Security. These products aren’t cheap and purchases you would want to get 5% cash back on.

Con: Requires Amazon Prime Membership. To use this card you have to be an Amazon Prime Member so in some respects there is a fee involved even though it’s not an annual fee specifically for the card. Amazon Prime Membership costs $99 per year. If you’re not already a member and want to become one for the card, you must spend enough to pay for membership.

Con: Exclusive to Amazon. A gift and a curse. You’ll have to follow up with another card for cash back on other things like groceries, gas, dining or travel.

Other Cards for Amazon Spending

Chase Freedom® is another option to consider, especially if you don’t want to spend the money for a Prime membership but still want to earn 5% on Amazon purchases.

With the Chase Freedom®, you can earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate and unlimited 1% cash back on all other purchases. In the past, Amazon has been included as one of the 5% categories, typically around the holidays. 

You’ll get 5% back in categories like gas stations, restaurants, Amazon.com and more, up to the quarterly maximum each time you activate.

From September until December 2017, the bonus categories are Walmart and select department stores.

All other purchases get an unlimited 1% cash back. You can redeem cash back for gifts cards, travel, experiences, statement credits and deposits to an account.

Which Card Should You Choose?

The Amazon Prime Rewards Visa Signature Card is a good one to consider if you already have an Amazon Prime account. It’s not worth getting an Amazon Prime account just to get this card unless you plan on spending big in the future on the site. If you spend moderately throughout the year, the basic Amazon.com Rewards Visa Card is a better choice between the two. You’ll get rewarded for more diverse spending in addition to your online shopping.

Advertiser Disclosure: The card offers that appear on this site are from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all card companies or all card offers available in the marketplace.

Taylor Gordon
Taylor Gordon |

Taylor Gordon is a writer at MagnifyMoney. You can email Taylor at taylor@magnifymoney.com

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Credit Cards, Reviews

PayPal Launches a 2% Cash Back Rewards Card: Double is the New Rewards Standard

The editorial content on this page is not provided by any financial institution and has not been reviewed, approved or otherwise endorsed by any of these entities.

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Source: iStock

PayPal’s new Cashback Mastercard, launched Aug. 30, is packed with features that pin it head to head with the current highest no-fee flat-rate cash back credit card on the market.

The PayPal Cashback Mastercard® is a no-fee rewards card that offers users a flat 2 percent cash back upfront on all eligible purchases made using the credit card. The offer is a step up from the current leading cash back card, the Citi® Double Cash Card, which credits 1 percent upfront and another 1 percent on what cardholders pay off each billing cycle.

The digital and mobile payment company partnered with Synchrony Bank to launch the Cashback Mastercard, which grants users benefits exclusive to PayPal and Mastercard members.

Although it boasts a generous cash back offer, the PayPal Cashback Mastercard® has its drawbacks.

“The 2 percent cash back rate is a solid offer. But the PayPal Cashback Mastercard® falls short in three main ways: no sign-up bonus, high APR and no 0% introductory period,” says Chris Mettler, president of our sister site CompareCards.com.

How the PayPal Cashback Mastercard® works

PayPal is clearly targeting PayPal users with this new cash back rewards card. The application for PayPal’s new credit card is only open to existing PayPal customers. Access to the application is granted after users submit a username and password to log in to a PayPal account.

They are then redirected to an application on the Synchrony Bank website. After filling in sensitive information, applicants have the option to set the card as a default payment option in their PayPal wallet and purchase Synchrony Bank’s card security program before submitting the form.

If approved, customers are charged one of three variable interest rates — 16.99%, 24.99% or 27.99% — based on creditworthiness and other factors like income. PayPal doesn’t charge cardholders an annual fee.

Cardholders can earn an unlimited, flat 2 percent cash back on all eligible purchases made using the PayPal Cashback Mastercard®. The cash back rewards are credited directly to the user’s digital wallet on PayPal. The money stored on PayPal wallet can be used to make purchases where PayPal is accepted, sent to peers, or cashed out to a bank account.

Cardholders don’t need to wait for a physical card to show up in the mail before they can start earning rewards. Users have immediate access to the line of credit through their PayPal account. PayPal’s Cashback Mastercard will show up right away in their PayPal wallet, where it can be used to make purchases or pay bills online.

How to qualify for the PayPal Cashback Mastercard®

Borrowers with good or excellent credit scores are most likely to qualify for the PayPal Cashback Mastercard, but those working to better a poor credit score may qualify for a card, too.

Applicants are approved for one of three interest rates, based on creditworthiness and other factors. The lowest rate, 16.99%, is offered to applicants with the best scores, whereas the highest rate, 27.99%, is reserved for applicants who are a greater credit risk.There is a 24.99% APR that’s likely to go to anyone that falls in between.

What we like about the PayPal Cashback Mastercard®

2 percent cash back on all eligible purchases

PayPal’s Cashback Mastercard® is now the highest, no-fee rewards card on the market. The 2 percent cash back feature is the greatest value to credit card users who want a simple, straightforward way to earn rewards. This cash back card is ideal for users who make most of their everyday purchases on a credit card and pay off the card’s balance each month.

Cardholders will get 2 percent cash back on all eligible purchases made at Paypal.com, eBay.com and anywhere Mastercard is accepted using the PayPal Cashback Mastercard®.

Automatically added to PayPal Wallet

The credit card is automatically linked and added to the PayPal wallet, a digital wallet that lets users pay for purchases online with linked bank accounts, credit and debit cards, or money on the account balance. That means users opening the card to make a purchase can gain access to the line of credit and earn rewards for spending right away.

Redeem cash rewards to PayPal balance

To use any cash back earned, users must transfer the money to their PayPal balance. Once in the digital wallet, that money can be used to complete online purchases, pay bills, or send money to peers all over the world.

No cash back restrictions

PayPal doesn’t cap the amount of cash back users can earn or set a minimum on the amount of cash back a user can redeem. Plus, cash back rewards won’t expire, so users aren’t pressured to use the money or lose it by a certain date.

Mastercard benefits

PayPal Cashback Mastercard® users also gain exclusive Mastercard cardholder benefits. They include doubling the length of warranty coverage on purchases up to one year, 60-day price protection, and Mastercard’s identity theft protection service.

What we don’t like about the PayPal Cashback Mastercard®

For PayPal customers only

You must have a PayPal account in order to apply for a PayPal Cashback Mastercard® account and keep the account open to maintain the credit account.

If your PayPal account is closed, or you unlink the card from your PayPal account, your card account will be closed. If you have cash back available, you won’t be able to redeem those awards, and they will be forfeited.

If your PayPal account is suspended for any reason, you won’t be able to redeem cash back to your PayPal balance until the account is back in good standing.

No sign-up bonus

The PayPal Cashback Mastercard® misses an opportunity to offer users even more value by omitting a sign-up bonus. If users are looking to earn a boost in credit rewards after a few months of use, they may have more luck with a cash back card like Chase Freedom®, which offers 1 percent back on all purchases and earns a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening.

No interest-free period

The card’s benefits also exclude an interest-free period. So while users can make a purchase with the line of credit immediately after opening the account using the PayPal wallet, they should avoid making large purchases as interest will begin to accrue right away.

Credit users should instead use a credit card with an interest-free period like the Discover it® Cashback Match™ credit card, so they have more time to pay off the balance of the purchase before interest kicks in. The card offers an 0% introductory APR for 14 months on purchases and balance transfers.

A high APR

Cardholders should be careful not to carry a balance on this card to avoid getting hit with interest charges. For borrowers with a poor credit rating, the card charges a super high 27.99% APR, which trumps any 2 percent cash back earned that period. To avoid paying interest and make the most of the Cashback Mastercard, cardholders should make sure to pay off the card balance each period.

3 percent foreign transaction fee

It costs cardholders 3 percent to swipe the PayPal Cashback Mastercard® overseas. Even with 2 percent cash back, users end up paying 1 percent to make foreign purchases.

Who the PayPal Cashback Mastercard® is best for

The PayPal Cashback Mastercard® is best for existing PayPal customers who want a straightforward way to earn cashback on all of their everyday purchases.

If a cardholder is a heavy online shopper, the Cashback Mastercard may also be a good choice because they can easily earn cash back from using the card as a payment option when they pay online using PayPal, then credit the cash back to their PayPal balance for future purchases.

PayPal Cashback Mastercard<sup>®</sup>

LEARN MORE Secured

on PayPal’s secure website

Alternatives to the PayPal Cashback Mastercard

PayPal Extras MasterCard

If you prefer to earn credit card rewards in points instead of cash back, you can apply for PayPal’s other no-fee credit rewards option, the PayPal Extras MasterCard®. This card has a traditional points reward structure. It awards cardholders three times points on each dollar spent at gas stations and restaurants, double points on purchases made through PayPal or eBay, and one point per dollar spent everywhere else.

Unlike the cash back card, rewards earned on the PayPal Extras Mastercard expire® within two years if unused or if no purchases are made using the card for one year.

Citi® Double Cash Card

PayPal’s 2 percent Cashback Mastercard is only for PayPal account holders. If the benefits and 2 percent cash back upfront aren’t enough to rope you into creating a PayPal account, the Citi Double Cash Card® is a good alternative.

The card rewards 2 percent cash back on all purchases, but not all at once like PayPal’s Cashback Mastercard® does. Cardholders earn 1 percent cash back when they spend, and then 1 percent cash back when they pay, instead of awarding the entire 2 percent upfront. The Citi® Double Cash Card also omits an interest-free period for purchases and a sign-on bonus. However, it does offer a 0% introductory 18-month balance transfer.

PayPal Cashback Mastercard® FAQ

Cardholders receive 2 percent cash back on all eligible purchases made at Paypal.com, eBay.com and anywhere Mastercard is accepted using the PayPal Cashback Mastercard®.

No, cash back rewards don’t expire and can be redeemed to your PayPal balance at any time.

If you are unable to pay off your statement balance in full, you will be charged a variable interest rate of either 16.99%, 24.99% or 27.99% on purchases made in the billing period and be required to make a minimum payment.

Cardholders can redeem cash back by transferring the cash back balance to their PayPal account balance. The funds can then be used to make purchases anywhere PayPal is accepted or transfer money to peers using PayPal.

Use a cash back credit card that fits your day-to-day spending needs best, pay your bill in full each month, and spend only what you can afford to pay off.

Advertiser Disclosure: The card offers that appear on this site are from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all card companies or all card offers available in the marketplace.

Brittney Laryea
Brittney Laryea |

Brittney Laryea is a writer at MagnifyMoney. You can email Brittney at brittney@magnifymoney.com

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Building Credit, Credit Cards, Earning Cashback, Reviews

QuicksilverOne Review: Unlimited 1.5% Cash Back for Average Credit

The editorial content on this page is not provided by any financial institution and has not been reviewed, approved or otherwise endorsed by any of these entities.

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For people with “average” or “fair” credit, Capital One offers the Capital One® QuicksilverOne® Cash Rewards Credit Card. Every credit card issuer has a different definition of what “average” or “fair” credit means. Generally speaking, it means a FICO score between 580 and 669.

The Capital One® QuicksilverOne® Cash Rewards Credit Card gives you an unlimited 1.5% cash back, which is a pretty sweet opportunity for consumers with less-than-perfect credit.

Just beware of the two catches: There’s a $39 annual fee and a high purchase APR.

Capital One® QuicksilverOne® Cash Rewards Credit Card

APPLY NOW Secured

on Capital One’s secure website

Capital One® QuicksilverOne® Cash Rewards Credit Card

Annual fee
$39
Cashback Rate
Unlimited 1.5%
APR
24.99%

Variable

Credit required
fair-credit

Average

Capital One® QuicksilverOne® Cash Rewards Credit Card Overview

The Capital One® QuicksilverOne® Cash Rewards Credit Card program is low maintenance.

Unlike other programs with revolving categories and spending caps, this card doesn’t hold you to either. You will earn 1.5% cash back every time you swipe.

You can redeem cash back at any time for a check, account credit, or gift card. Cash back you earn never expires for the life of the account.

What We Like About This Card

No fuss.

We like that the cash back program terms are uncomplicated. There are no preset bonus categories that you have to adapt your spending to each month. You can also redeem cash back at any time without having to wait for the balance to reach a certain threshold.

Low credit score requirement.

The Capital One® QuicksilverOne® Cash Rewards Credit Card is one of the only cash back rewards cards around town for average credit. If you’re having trouble getting approved elsewhere, this is a card you need to seriously consider.

What We Don’t Like About This Card

The annual fee.

Since this card costs $39 per year, you need to spend at least $2,600 per year (or $217 per month) for the cash back to break even with the fee. Ideally, you’ll want to spend more than just the bare minimum for the rewards card to be worthwhile.

High APR.

This is a high interest rate. Avoid carrying a balance at all costs if you choose this card.

Who This Card Is Best For

Again, the Capital One® QuicksilverOne® Cash Rewards Credit Card is our top unlimited cash back pick for consumers who have trouble getting approved for other cash back cards.

According to Capital One, you may qualify for this card if:

  • You have defaulted on a loan in the past five years
  • You have limited credit history
  • You have had your own credit card or other credit for less than three years (this may include students, people new to the U.S., or authorized users on someone else’s credit card)

Keep in mind, these are just guidelines to give you a general sense of whether you’ll qualify. Your income, debt, and other credit limits are also factors used to make a decision.

Capital One has a nice feature where you can get preapproved online for offers without a hard credit inquiry. See if you prequalify for the Capital One® QuicksilverOne® Cash Rewards Credit Card here.

Keep an eye out for the Capital One® Quicksilver® Cash Rewards Credit Card alternative while checking offers as well.

The Capital One® Quicksilver® Cash Rewards Credit Card is the “big brother” of the Capital One® QuicksilverOne® Cash Rewards Credit Card. It has no annual fee, and it’s for people with excellent credit. There’s no harm in checking to see if you prequalify for the Capital One® Quicksilver® Cash Rewards Credit Card.

Is the Capital One® QuicksilverOne® Cash Rewards Credit Card good for rebuilding credit?

Despite the lenient qualifying criteria, the Capital One® QuicksilverOne® Cash Rewards Credit Card is not our top recommendation if you’re rebuilding credit, because of the annual fee.

Your focus should be keeping your credit utilization very low when rebuilding credit. You shouldn’t worry about having to earn enough cash back each month to cover a card’s annual fee.

Try a no-fee secured card like the Capital One® Secured Mastercard® or the Discover it® Secured Card – No Annual Fee instead.

Capital One® QuicksilverOne® Cash Rewards Credit Card Benefits

Capital One® QuicksilverOne® Cash Rewards Credit Card offers:

  • Travel accident insurance and 24/7 roadside assistance. Travel insurance for death or loss of limbs. You can call in for help if your car breaks down.
  • Auto rental insurance. Insurance covers rental damage from collision or theft.
  • Extended warranty. Purchases made on your card will get an extended warranty.
  • Price protection. You can get reimbursed the difference if you find items you purchased on sale within 60 days.
  • Fraud coverage. Covered by $0 fraud liability if your card is lost or stolen.

Alternatives to the Capital One® QuicksilverOne® Cash Rewards Credit Card

The Capital One® QuicksilverOne® Cash Rewards Credit Card doesn’t have much competition since it’s the best card for consumers with average credit. The following no-fee cash back cards officially require good to excellent credit but allow you to prequalify without a hard inquiry.

1.5% cash back, no fee

Chase Freedom Unlimited<sup>®</sup>

Annual fee

$0

Cashback Rate

1.5%

APR

15.99%-24.74%

Variable

The Chase Freedom Unlimited® card gives you an unlimited 1.5% cash back on all spending without category restrictions or caps. What’s great about Chase is it’s another credit card issuer that lets you prequalify for offers without a hard pull. Check out offers you may prequalify for here.

You can redeem cash back from your Chase Freedom Unlimited® card at any time, and cash back never expires as long as you keep your account open. At times there is an intro APR deal or cash back bonus offer that add benefits to this card, and ongoing rates are sometimes lower than what you’d see on the Capital One® QuicksilverOne® Cash Rewards Credit Card.

Double cash back, no fee

Citi® Double Cash Card – 18 month BT offer

Annual fee

$0*

Cashback Rate

1% when you buy, 1% when you pay

APR

14.49%-24.49%

Variable

The Citi® Double Cash Card is another good choice for low-maintenance cash back rewards. It gives double cash back on all purchases. You earn 1% cash back when you spend on the card and another 1% cash back when you pay off the bill.

This is a card that members report qualifying for with a credit score in the high 600s. Citi lets you shop for prequalified offers on the website as well. If you’re interested in this card, see if you can get prequalified here. In addition, there are changing intro APR deals for this card that allow you to save interest early on, and ongoing interest rates are sometimes lower than with the Capital One® QuicksilverOne® Cash Rewards Credit Card.

Bottom Line

The Capital One® QuicksilverOne® Cash Rewards Credit Card is a good rewards card for those with average credit. If you have had difficulty being approved for other higher cash back rewards cards, you may be approved for the Capital One® QuicksilverOne® Cash Rewards Credit Card, which offers unlimited 1.5% cash back. Be aware that this card comes with an annual fee and high APR, so make sure to do your research and see if this card is right for you.

FAQ

You should not keep a balance on this credit card to benefit from the cash back. The high APR is a large amount of interest to be paying on purchases. If the interest charges you experience on this card coupled with the annual fee surpass the cash back you earn, this card is pointless.

No. You’re free and clear to spend money on anything, and it’ll earn 1.5% cash back. This is the beauty of an unlimited cash back card. However, cash advances and balance transfers will not qualify for cash back.

No, cash back does not expire as long as your account remains open.

You can, but not with average credit. The Capital One® QuicksilverOne® Cash Rewards Credit Card is the best unlimited cash back card there is specifically targeting people with fair credit. Another option you have is working to improve your credit first before applying for a credit card to qualify for a card that gives you more cash back.

Advertiser Disclosure: The card offers that appear on this site are from companies from which MagnifyMoney receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). MagnifyMoney does not include all card companies or all card offers available in the marketplace.

Taylor Gordon
Taylor Gordon |

Taylor Gordon is a writer at MagnifyMoney. You can email Taylor at taylor@magnifymoney.com

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Won’t impact your credit score

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Credit Cards

Review: PenFed Launches 1.5% – 2% Power Cash Rewards Credit Card

The editorial content on this page is not provided by any financial institution and has not been reviewed, approved or otherwise endorsed by any of these entities.

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PenFed, a credit union that anyone can join (more on that later) has just introduced a new cash back rewards credit card. The card pays a high, flat cash back rate and brings a credit union approach to fees (low and not many of them) and simplicity. Here are the details on the cash back that you can earn:

  • Anyone with military service earns 2% cash back on all spending, with no limits or restrictions. That is the highest flat cash back rate in the market.
  • Anyone with a PenFed checking account (restrictions apply) earns 2% cash back on all spending, with no limits or restrictions. (If you keep $500 in the checking account, there is no fee and you earn 0.20% APY on the money).
  • If you do not have military service or a checking account, you can earn 1.5% unlimited cash back. At 1.5%, the card matches Chase Freedom Unlimited® or Capital One® Quicksilver® Cash Rewards Credit Card, but it is still beat by Citi® Double Cash Card.
  • There is a minimum redemption amount of $5 for the cash back that you have earned.
  • There is a bonus offer: get $100 of cash if you spend $1,500 during the first 90 days.

In addition to the cash back, here are some additional features:

  • Chip with pin functionality: if you travel overseas, you might find chip + signature limiting. For example, trying to use a card with only signature functionality at kiosks across Europe (like the London Underground) can be challenging.
  • No annual fee and no foreign transaction fee.
  • Variable APR range of 9.24% – 17.99%. If you have excellent credit, the lowest APR at Citi (on the Double Cash product) is 13.49%. For people who revolve occasionally, this could be a better option. (Although our advice remains to pay your balance in full and on time. If you need to borrow money, personal loans and balance transfers remain cheaper options).

Our Verdict

Best Cash Back Credit Card for Military: 2% is the gold standard for a flat rate cash back credit card, and PenFed delivers for men and women who have served. This is better than any competing flat-rate cash back credit cards because of the lower APR and lack of foreign transaction fees.

Best Cash Back Credit Card for Spending Abroad: If you use Citi® Double Cash Card, you would be hit with a foreign transaction fee of 3%. So, you would earn 2% but be forced to pay 3% in fees. Before this card, Capital One® Quicksilver® Cash Rewards Credit Card was our top choice because of a 1.5% earn rate and no foreign transaction fees. PenFed’s card now wins because (a) if you put $500 into a PenFed checking account you can earn 2% on this card, and (b) the card offers chip and pin functionality. If you spend $1,000 overseas this year, you would pay $10 to Citi, (2% cash back – 3% fees = -1%), would earn $15 with Capital One and would earn $20 with PenFed.

Tie: Best Flat-Rate Cash Back Credit Card: With both Citi® Double Cash Card and PenFed you can earn up to 2%. Each card has its own unique differences, which is why they are tied for best flat-rate card in the market.

  • PenFed: You need to join the credit union, open a checking account and fund the account with $500 (or sign up for direct deposit) to ensure you get the full 2% and avoid fees. Financially it will make sense, but there are a number of obstacles to get the full rewards (unless you are military).
  • Citi® Double Cash Card: It is easy to apply and get the card (no credit union membership or Citi checking account required). However, the card is actually 1% as you earn and 1% as you pay, so it takes longer to get the full 2%. The interest rates are higher and there is a foreign transaction fee.

There are still options to earn higher cash back rates in certain categories. You can find the best cash back credit cards by every category here. For example, you can earn 5% unlimited on gas with Fort Knox Credit Union.

If you want to learn more or apply, you can visit PenFed’s website.

Requirements To Earn 2%

Here are the details on how to ensure you get the full 2% earn rate:

Military: You are eligible to earn 2% if the primary or joint applicant is in military service, the National Guard, the Reserves, an honorary discharged veteran or retired from the United States military. Military members receive the 2% upon completion of the application – no further action is required.

Checking Account: If you do not meet the military requirements, you would need to open a checking account with PenFed. The account is called the “AccessAmerica Checking Account.” There are some decent benefits to the account (you can earn 0.20% APY interest on balances up to $20,000 and 0.50% APY on balances between $20,000 and $50,000). If you shift your monthly direct deposit of at least $500 to this account, you will not have a monthly fee. However, if you do not want to shift your direct deposit, you can deposit $500 and keep it there to meet the required minimum balance. This is actually the easiest way to earn the 2%, cash back rate and, given the 0.20% interest on the checking account, it can be financially worthwhile.

Join the Credit Union: There are multiple ways to join the credit union. If you are active or retired military, you are eligible to join for free. If you work for the US government or are a relative of a member, you can also join for free. But don’t worry if you are unable to meet those requirements. You might belong to an eligible organization (check here). You can also join an organization to become eligible for credit union membership. You can pay $17.00 (one time and non-refundable) to join Voices for America’s Troops or the National Military Family Association. By supporting a good cause, you become eligible for credit union membership. In addition to the credit card, PenFed is known for low rates on auto loans and mortgages.

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Nick Clements
Nick Clements |

Nick Clements is a writer at MagnifyMoney. You can email Nick at nick@magnifymoney.com

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