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10 Best 5% Cash Back Credit Cards for November 2019

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any of our network partners. This site may be compensated through a credit card partnership.

Cash Back Credit Cards for 2017
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Credit card rewards programs come in so many varieties that it can be difficult to find the best cards for your spending habits. A basic, flat-rate card that earns you a certain percentage of cash back on all purchases is probably the simplest bet out there. Typically, rates range from 1-2%. Not shabby, especially if you use that card exclusively. But it’s not exactly something to write home about either.

There are even better cash back rewards offerings out there, some as high as 5%. But with these high-rewards cards, there’s almost always a catch, since most don’t offer 5% cash back across the board.

Every few months, the cards offer a few select shopping categories that can earn 5% cash back. Once those few months are up, the categories change. For example, a card could offer 5% cash back on groceries, gas and airfare from January to March, then switch those categories to wholesale stores, restaurants and gyms from April to June.

Additionally, there are often caps on how much of your spending can qualify for the 5% rewards rate. So if the cap is $1,500, for example, everything past that amount won’t qualify for the higher reward.

The key to maximizing these great cashback card offers is to find ones that offer cash in the categories you use the most. We dug around and found 10 cards that offer at least 5% cash back in some of the most common spending categories including gas, groceries and entertainment.

Access to bonus 5% Categories: Chase Freedom®

Chase Freedom®

The information related to Chase Freedom® has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication. Terms Apply.

Chase Freedom®

Regular Purchase APR
16.74% - 25.49% Variable
Annual fee
$0
Rewards Rate
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.

How it works: 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. This translates to a maximum return of up to $75 per quarter on the 5% bonus category. You earn an unlimited 1% cash back on all other purchases outside of the bonus categories. You can also Earn a $150 Bonus after spending $500 on purchases in your first 3 months from account opening.

Earn 5% back in these categories through the end of 2019:

  • January to March 2019: Gas stations, tolls and drugstores
  • April to June 2019: Grocery stores and home improvement stores
  • July to September 2019: Gas stations and select streaming services
  • October to December 2019: Department stores, Chase Pay, Apple Pay (Activate by Dec. 14, 2019)

Another area where the Chase Freedom® shines is in how it allows customers to redeem their rewards. The cash you’ve earned converts into Chase Ultimate Rewards® points. Every $1 equals 100 points. You can easily use the cash and apply it to your monthly statement. Or you can convert them into points and use them on travel, gift cards, merchandise, and other services through the Chase Freedom® rewards dashboard.

They make it super simple to redeem points on the go through the Chase Freedom® Mobile app. While you’re shopping, you can pick the merchant from the list on of eligible merchants on your app (popular ones include Nike, Regal Cinemas, Lowe’s, Starbucks and Best Buy). Then tell the app how much cash you want to use. You’ll get a custom e-gift card that you can present at checkout to pay for your purchases.

chasefreedommobileapp

Plus, you can stack the points earned on your Chase Freedom® card with your points on other Chase rewards cards, like the Chase Sapphire Preferred® Card and the Chase Sapphire Reserve®. That just increases the spending power of your points.

The Fine Print: You can’t beat 5% cash back for your spending, especially with no annual fee. The downside is you have to remember to activate the category each quarter by subscribing to the program. But, if you set a reminder to do so, you can earn money without too much effort.

The original 5% cash back card: Discover it® Cash Back

Discover it® Cash Back

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on Discover Bank’s secure website

Rates & Fees

Discover it® Cash Back

Regular APR
13.49% - 24.49% Variable
Annual fee
$0
Rewards Rate
5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate, 1% unlimited cash back on all other purchases - automatically.

How it works: With the Discover it® Cash Back you earn 5% cash back at different places each quarter like grocery stores, gas stations, Uber and Lyft, restaurants, or Amazon.com up to the quarterly maximum. The 5% is limited to $1500 spending per quarter, 1% after that. Activation is required.

Earn 5% cash back in these categories through the end of 2019:

  • January through March 2019: Grocery stores
  • April through June 2019: Gas stations, Uber and Lyft
  • July through September 2019: Restaurants and PayPal
  • October through December 2019: Amazon.com, Target, and Walmart.com (Activate now)

Discover also recently announced its 2020 cashback calendar:

  • January through March 2020: Grocery stores, Walgreens and CVS (Activate now)
  • April through June 2020: Gas stations, Uber, Lyft and wholesale clubs (Activate starting Feb. 1)
  • July through September 2020: Restaurants and PayPal (Activate starting May 1)
  • October through December 2020: Amazon.com, Walmart.com and Target.com (Activate starting Aug. 1)

Using your rewards: Cash back from the Discover it® Cash Back is tracked in dollars and cents. You can immediately apply your cash back earnings to your bank account or as a statement credit toward your bill (note: your minimum payment will still be due). There’s also no minimum rewards value if you want to redeem them for charitable donations.

The fine print: You can only earn 5% cash back on up to $1,500 of spend each quarter you activate. Once you’ve hit that cap, you’ll earn 1% unlimited cash back automatically on all other purchases. This adds up to a $75 maximum return on your rotating bonus categories. There is no annual fee.

Extra perks: For new cardmembers, Discover will match ALL the cash back you’ve earned at the end of your first year, automatically. There’s no signing up and no limit to how much is matched.

Best for gas and restaurants in 2019: Visa® Platinum Rewards Credit Card from Nusenda Credit Union

Visa® Platinum Rewards Credit Card from Nusenda Credit Union

Visa® Platinum Rewards Credit Card from Nusenda Credit Union

Regular Purchase APR
11.00% - 15.00% Variable
Annual fee
$0
Rewards Rate
Earn 3 bonus points, or 5% cash back, respectively, for every dollar they spend on purchases for movies, restaurants, and home improvements (up to $1,500 per quarter).

How it works: The Visa® Platinum Rewards Credit Card from Nusenda Credit Union lets you earn 3 bonus points, or 5% cash back, respectively, for every dollar they spend on purchases for movies, restaurants, and home improvements (up to $1,500 per quarter). Notably, it offers both gas and restaurants in two quarters. As a bonus New card holders earn 10,000 bonus points for $500 in purchases during first 90 days.

Earn 5% cash back in these categories through the end of 2019:

  • January to March: Groceries and gas expenses
  • April to June: Movies, restaurants and home improvement
  • July to September: Gas and education expenses
  • October to December: Restaurants, hotels and airfares

Using your rewards: This offer stands out as a decent companion card for maximizing cash back. When coupled with the Chase Freedom® or Discover it® Cash Back, you can maximize cash back in different areas during one quarter.

For an example, you can turn to the Visa® Platinum Rewards Credit Card from Nusenda Credit Union for 5% at restaurants in Q4. Then pull out the Discover it® Cash Back to make purchases at Amazon.com for another 5% the same quarter.

The fine print: Once again, you’ll need to monitor your spending habits to get the most cash back from a revolving category card. If you choose to use this card along with another one, a good practice would be labeling the cards in your wallet to ensure you use the right one for the right purchases in a given quarter.

One final caveat: While there is no annual fee, Nusenda is a credit union, so you will have to go through the process of applying for membership.

Pick your own cash back categories: U.S. Bank Cash+™ Visa Signature® Card

U.S. Bank Cash+™ Visa Signature® Card

U.S. Bank Cash+™ Visa Signature® Card

Regular Purchase APR
15.74% - 25.24%* (Variable)
Annual fee
$0*
Rewards Rate
5% cash back on your first $2,000 in combined eligible net purchases ($100 per quarter) on two categories you choose. That adds up to $400 cash back!

The U.S. Bank Cash+™ Visa Signature® Card has a revolving cash back program that’s unique in comparison to the others above because you get options.

Earning cash back: You can earn 5% cash back in two categories of your choosing each quarter limited to the first $2,000 of spend. Then you can choose another category with no cap to earn 2% cash back. On all other purchases, you earn 1% cash back.

The categories for an unlimited 2% cash back (choose one each quarter) are:

  • Gas stations
  • Restaurants
  • Grocery stores

The categories for 5% cash back up to $2,000 (choose two each quarter) are:

  • Home utilities
  • Ground transportation
  • Select clothing stores
  • Cell phone providers
  • Electronics stores
  • Car rentals
  • Gyms/fitness centers
  • Fast food
  • Sporting goods stores
  • Department stores
  • Furniture stores
  • Movie theaters

Using your rewards: You can redeem cash back for gift cards, statement credit or a deposit into a U.S. bank savings, checking or money market account. The first time you redeem $100 in cash back in a single transaction, you get a $25 Cash+ Bonus.

The Fine Print: The same opt-in revolving category applies here, except you must also remember to choose your categories. There is no annual fee. The U.S. Bank Cash+™ Visa Signature® Card is another good example of a card you may want to couple with another that gives you higher cash back for necessities, i.e., groceries. But, for diverse spenders who can benefit from the 5% category options, the U.S. Bank Cash+™ Visa Signature® Card is worth considering.

Ideal for typical business expenses: Ink Business Cash℠ Credit Card

How it works: Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn.

Earning cash back: Along with the rewards rate, cardholders earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening.

Using your rewards: You can redeem your cash back as statement credits, which can be applied toward your card balance or directly deposited into most U.S. checking and savings accounts. You can also redeem cash back for travel, gift cards or Apple purchases through Ultimate Rewards.

The fine print: Although the Ink Business Cash℠ Credit Card offers a generous rewards rate on select business expenses, you can only earn the higher cash back rate on the first $25,000 in combined purchases in those categories each account anniversary year.

5% cash back for the Amazon Prime enthusiast: Amazon Prime Rewards Visa® Signature Card

Amazon Prime Rewards Visa® Signature Card

The information related to Amazon Prime Rewards Visa® Signature Card has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication. Terms Apply.

Amazon Prime Rewards Visa® Signature Card

Regular Purchase APR
15.99% to 23.99% Variable
Annual fee
$0
Rewards Rate
Earn 5% back at Amazon.com and Whole Foods Market with eligible Prime membership, 2% back at restaurants, gas stations, and drugstores, and 1% back on all other purchases.

How it works: The Amazon Prime Rewards Visa® Signature Card is open to Amazon Prime Members, so it’s somewhat exclusive. Earn 5% back at Amazon.com and Whole Foods Market with eligible Prime membership, 2% back at restaurants, gas stations, and drugstores, and 1% back on all other purchases. Buying items on other merchant websites that have the Amazon Prime Rewards Visa® Signature Card payment option enabled will not earn you 5% cash back.

Using your rewards: The cash back you rack up will apply as a credit to your statement.

Do the math: If you’re not already an Amazon Prime Member, it’s probably not worth signing up to become one just for the card unless you intend to spend big bucks on the site or at Whole Foods Market. You need to spend $2,380 per year at Amazon.com for the 5% cash back to cover the $119 annual membership fee.

The fine print: The fine print of what you can and can’t buy to earn 5% is the only gotcha here. But, if you shop a lot at Whole Foods Market or on Amazon.com often and stick to the rules, you’ll see a nice return from this card. There’s no annual fee for the card, but you must be an Amazon Prime member, which costs $119 a year ($59 for students).

Good fit for the regular Target shopper: Target REDcard™ Credit Card

Target REDcard™ Credit Card

Target REDcard™ Credit Card

Regular Purchase APR
25.15% Variable
Annual fee
$0
Rewards Rate
5% at Target & Target.com

How it works: For Target shoppers, there’s the Target REDcard™ Credit Card. It gives you a discount of 5% at Target & Target.com (minus any other discounts or promotions). Purchases that won’t earn 5% cash back include:

  • Prescriptions, over-the-counter items located behind the pharmacy counter and clinic services
  • Target Optical™ eye exams
  • Target gift cards and prepaid cards, Stockpile, Gift of College and lottery gift cards
  • Previous purchases
  • Certain restaurant merchants in Target stores, such as D’Amico & Sons Italian Kitchen and Pret A Manger
  • Target credit account payments, Target Debit Card cash back and cash advances on the Target Mastercard
  • Shipt membership fees
  • Gift wrap and shipping and handling charges on Target.com purchases
  • Wireless protection program purchases and deposits required by mobile carriers

Earning and using rewards: The program is pretty simple as far as how Target gives you money back. Your 5% will apply to eligible purchases in your shopping cart at checkout. In addition to 5% cash back, this program includes free shipping from Target.com and 30 extra days for returns.

The fine print: No red flags with the REDcard other than watching out for the purchases excluded from cash back listed above. For faithful Target shoppers, this no annual fee card with the 5% discount may be a no brainer.

Most straightforward 5% rewards card just for gas: Fort Knox Federal Credit Union Visa® Platinum Card

Fort Knox Federal Credit Union Visa® Platinum Card

Fort Knox Federal Credit Union Visa® Platinum Card

Regular Purchase APR
11.50% - 18.00% Variable
Annual fee
$0
Rewards Rate
Unlimited 5% cash back on gas and 1% cash back on all retail purchases.

How it works: The Fort Knox Federal Credit Union Visa® Platinum Card makes our list with the most straightforward, no cap rewards program. You can Unlimited 5% cash back on gas and 1% cash back on all retail purchases.

Using your rewards: Cash back will appear on your statement as a credit.

The fine print: This rewards program is offered by a credit union in Kentucky. You’ll have to take a few extra steps to qualify for membership. If you don’t live in Kentucky or have family in Kentucky, membership is open to anyone that joins the American Consumer Council. There is no annual fee for the card, but you will need to become a member of the credit union.

Only advantageous for military service members living on base: USAA® Cashback Rewards Plus American Express® Card

USAA®Cashback Rewards Plus American Express® Card

USAA®Cashback Rewards Plus American Express® Card

Regular Purchase APR
13.65% - 27.65% Variable
Annual fee
$0
Rewards Rate
Earn 5% cash back on your first $3,000 in gas and military base purchases annually on these categories combined. Earn 2% on your first $3,000 on supermarket purchases per year. Unlimited 1% cash back on all other purchases.

How it works: USAA® Cashback Rewards Plus American Express® Card lets you earn 5% cash back on your first $3,000 in gas and military base purchases annually on these categories combined. earn 2% on your first $3,000 on supermarket purchases per year. unlimited 1% cash back on all other purchases. USAA membership is available to active and former military and their eligible family members.

Earning cash back: You Earn 5% cash back on your first $3,000 in gas and military base purchases annually on these categories combined. Earn 2% on your first $3,000 on supermarket purchases per year. Unlimited 1% cash back on all other purchases. You can redeem cash back in increments of $1 through the USAA Rewards Service Center online or over the phone.

The fine print: The USAA® Cashback Rewards Plus American Express® Card is light on the fine print. Just remember, the 5% category yearly maximum is $3,000 for combined gas and military base purchases per year and not per quarter. There is no annual fee.

The key to earning from any cash back card

In closing, regardless of which cash back card you choose, be sure to pay off your bill in full each month. That’s one underlying trap of any card rewards program. If you carry a balance over time, adding interest into the equation means you may end up paying the credit card company more than what you’re making in cash back.

Advertiser Disclosure: The products that appear on this site may be 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 financial institutions or all products offered available in the marketplace.

Benét J. Wilson
Benét J. Wilson |

Benét J. Wilson is a writer at MagnifyMoney. You can email Benét J. at [email protected]

Tracy Brackman
Tracy Brackman |

Tracy Brackman is a writer at MagnifyMoney. You can email Tracy here

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Credit Cards

American Express Cash Magnet Card Review: What You Need to Know

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer. This site may be compensated through a credit card issuer partnership.

American Express Cash Magnet® Card

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on American Express’s secure website

Terms Apply | Rates & Fees

American Express Cash Magnet® Card

Intro Purchase APR
0% on purchases for 15 months
Intro BT APR
0% on balance transfers for 15 months
Regular Purchase APR
14.49%-25.49% Variable
Annual fee
$0
Rewards Rate
Unlimited 1.5% Cash Back on your purchases
Credit required
good-credit
Excellent/Good

American Express is plunging further into the cashback rewards credit card segment with the American Express Cash Magnet® Card – $150 Welcome Offer. This card provides stiff competition for three other popular cashback cards: the Blue Cash Everyday® Card from American Express, the Citi® Double Cash Card – 18 month BT offer and the Chase Freedom Unlimited®. All three offer cashback programs and don’t charge an annual fee. But what sets the new American Express Cash Magnet® Card – $150 Welcome Offer apart from the pack? We’ll cover that and more in this review.

How the American Express Cash Magnet® Card – $150 Welcome Offer stacks up

American Express Cash Magnet® Card – $150 Welcome Offer

Blue Cash Everyday® Card from American Express

Citi® Double Cash Card – 18 month BT offer

Chase Freedom Unlimited®

Annual Fee

$0

$0

$0

$0

Regular Purchase APR

14.49%-25.49% Variable

14.49%-25.49% Variable

15.49% - 25.49% (Variable)

16.74 - 25.49% Variable

Rewards

Unlimited 1.5% Cash Back on your purchases

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

Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay.

1.5% cash back offer.

Welcome Offer / New Cardmember Offer

$150 statement credit after you spend $1,000 or more in purchases with your new Card within the first 3 months of Card Membership

$150 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.

No bonus

$150 Bonus after you spend $500 on purchases in your first 3 months from account opening. Earn unlimited 1.5% cash back on all purchases.

Foreign Transaction Fee

2.7% of each transaction after conversion to US dollars.

2.7% of each transaction after conversion to US dollars.

3%

3% of each transaction in U.S. dollars

What we like about the card

The Welcome Offer. Like many rewards cards on the market today, the American Express Cash Magnet® Card – $150 Welcome Offer is looking to woo new cardmembers with a Welcome Offer — $150 statement credit after you spend $1,000 or more in purchases with your new Card within the first 3 months of Card Membership

Simplicity. Earn a straightforward Unlimited 1.5% Cash Back on your purchases Unlike rotating category cards, you don’t have to worry about remembering points in different spending categories, nor do you have to sign up quarterly to get higher rewards.

Good intro offers. The American Express Cash Magnet® Card – $150 Welcome Offer comes with an intro 0% on purchases for 15 months on purchases and an intro 0% on balance transfers for 15 months on balance transfers (after, 14.49%-25.49% Variable APR).

Flexible repayment. The card offers access to the Plan ItSM feature, which gives cardmembers flexibility by allowing you to create up to 10 payment plans for purchases costing $100 or more. You’ll have a fixed finance charge each month a plan is active.

Some travel perks. It comes with the familiar rewards and protections you expect from American Express, including auto rental insurance, Global Assist® Hotline, purchase protection and access to presale tickets to events like concerts and sporting events.

What could be better

You get your cash back as a statement credit. You can’t redeem it on things like airline tickets, hotel stays, gift cards and merchandise. You also can’t transfer it to airline or hotel loyalty programs. However, the card may occasionally offer other ways to redeem reward dollars, like gift cards or merchandise.  Note: cash back cannot be used to pay your minimum due.

You can do better than 1.5% cashback these days. If you’re looking for a higher cashback rate, check out the Citi® Double Cash Card – 18 month BT offer as an alternative, where you Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay.

Not the best for travel. If you travel regularly, this card doesn’t offer things like trip delay/interruption or baggage insurance like other travel credit cards. And you’ll pay a foreign transaction fee of 2.7% of each transaction after conversion to US dollars..

Check out our roundup of the best travel rewards cards.

Alternatives to the American Express Cash Magnet® Card – $150 Welcome Offer:

Blue Cash Everyday® Card from American Express

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on American Express’s secure website

Terms Apply | Rates & Fees

Blue Cash Everyday® Card from American Express

Regular Purchase APR
14.49%-25.49% Variable
Intro Purchase APR
0% for 15 months
Annual fee
$0
Rewards Rate
3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%). 2% cash back at U.S. gas stations and at select U.S. department stores. 1% cash back on other purchases.
Blue Cash Everyday® Card from American Express: If you’re looking for a flat-rate cashback card for supermarket spending, this is a hard one to beat. It also carries a $0 annual fee and a welcome offer that lets you $150 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.

Citi® Double Cash Card – 18 month BT offer

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The information related to Citi® Double Cash Card – 18 month BT offer has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication. Terms Apply.

Citi® Double Cash Card – 18 month BT offer

Regular Purchase APR
15.49% - 25.49% (Variable)
Annual fee
$0
Rewards Rate
Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay.
Credit required
good-credit
Excellent, Good
Citi® Double Cash Card – 18 month BT offer: The card doesn’t offer a sign-up bonus, but you have the potential to earn a higher cashback rate. It offers the same cashback rewards simplicity as the American Express Cash Magnet® Card – $150 Welcome Offer, but at a better rate. Cash back can be redeemed for statement credits or credited to either your linked Citi savings or checking account, or to a checking account from which you have paid a card bill at least two times, among other options.

Chase Freedom Unlimited®

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The information related to Chase Freedom Unlimited® has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication. Terms Apply.

Chase Freedom Unlimited®

Regular Purchase APR
16.74 - 25.49% Variable
Intro Purchase APR
0% Intro APR for 15 months
Annual fee
$0
Rewards Rate
1.5% cash back offer.
Credit required
good-credit
Excellent/Good

Chase Freedom Unlimited®: This card looks similar to the American Express Cash Magnet® Card – $150 Welcome Offer. If you use the Chase Freedom Unlimited® in combination with your existing Chase Sapphire Preferred® Card or Chase Sapphire Reserve® card, there are opportunities to earn even more cash back. You can do this by combining the cash back on the Chase Freedom Unlimited® with points earned on the Chase Sapphire Preferred® Card or Chase Sapphire Reserve®. You can then use those points in the Chase Ultimate Rewards® portal, where you can get 25% to 50% more value when you redeem them for airfare, hotels, car rentals and cruises. You can also transfer those points to four hotel or nine airline partners.

The information related to the Chase Sapphire Preferred® Card and Chase Sapphire Reserve® has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Our final take

For those who are loyal to American Express-branded cards, the new American Express Cash Magnet® Card – $150 Welcome Offer could be a good proposition. It offers simple cashback rewards with a $0 annual fee. It has a limited time welcome offer that can put extra rewards in your pocket if you spend the amount required to get it.

The American Express Cash Magnet® Card – $150 Welcome Offer comes with some travel and protection perks that aren’t offered by other credit cards in the no-annual-fee, cashback rewards category. And getting flexibility in how you make payments on the card is something not offered by competitors.

So if you want a simple cashback rewards card with decent perks, this is a good option. But if you spend more on things like travel and dining, and you don’t need the payment flexibility option, there are more robust card offerings out there.

Advertiser Disclosure: The products that appear on this site may be 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 financial institutions or all products offered available in the marketplace.

Benét J. Wilson
Benét J. Wilson |

Benét J. Wilson is a writer at MagnifyMoney. You can email Benét J. at [email protected]

Advertiser Disclosure

Credit Cards

Best Cashback Sign-Up Bonus Offers of November 2019

Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It has not been previewed, commissioned or otherwise endorsed by any credit card issuer. This site may be compensated through a credit card issuer partnership.

iStock

Searching for the best cashback sign-up bonus deals? Look no further. MagnifyMoney has compiled the best cashback card deals right here.

Take, for example, someone who spends approximately $1,800 per month during a two-year period. That person would earn on average nearly $750 in cashback rewards over the two years after taking into account any annual fees the cards assess.

After looking at the available cashback cards, we found five we felt offered the best sign-up bonuses. All five cards offer a cashback bonus without having to spend large amounts of money to get it. Plus, they all offer ongoing cashback options and perks once the cashback intro bonus is gone — all with no annual fees.

Cards with the best sign-up bonuses

Capital One® Savor® Cash Rewards Credit Card

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on Capital One’s website

Capital One® Savor® Cash Rewards Credit Card

Regular Purchase APR
16.24% - 25.24% (Variable)
Annual fee
$0 intro for first year; $95 after that
Rewards Rate
4% Cash Back on dining; 4% Cash Back on entertainment; 2% Cash Back at grocery stores; 1% Cash Back on all other purchases. Plus, earn 8% cash back on tickets at Vivid Seats through May 2020.
Credit required
good-credit
Excellent/Good

The sign-up bonus for this card lets you earn a one-time $300 cash bonus after you spend $3000 on purchases within the first 3 months from account opening. It has solid rewards, where cardmembers can earn 4% Cash Back on dining; 4% Cash Back on entertainment; 2% Cash Back at grocery stores; 1% Cash Back on all other purchases. Plus, earn 8% cash back on tickets at Vivid Seats through May 2020.

The card comes with broad cash-back earning categories. Dining includes restaurants, cafes, bars, lounges, fast-food chains and bakeries. Entertainment covers tickets for movies, plays, concerts, sporting events, tourist attractions, theme parks, aquariums, zoos, dance clubs, pool halls and bowling alleys. It also covers purchases at record and video rental stores. However, the entertainment category does not include digital streaming and subscription services. Cash back won’t expire as long as the card is active and there are no limits on how much cash back you can earn.

Additional card benefits include travel assistance services, a concierge, extended warranty and price protection. As for foreign transaction fees? There are none.

This card is best for those who want to earn more cash back on dining and groceries. Outside of that, there are other cashback cards that offer better rewards in top spending categories. Just know, there is an annual fee after the first year — $0 intro for first year; $95 after that.

Capital One® Quicksilver® Cash Rewards Credit Card

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on Capital One’s website

Capital One® Quicksilver® Cash Rewards Credit Card

Regular Purchase APR
15.74% - 25.74% (Variable)
Intro Purchase APR
0% intro on purchases for 15 months
Annual fee
$0
Rewards Rate
1.5% Cash Back on every purchase, every day
Credit required
good-credit
Excellent/Good
The Capital One® Quicksilver® Cash Rewards Credit Card starts with a one-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening. Once you spend $500 in three months to get the cashback bonus, it’s applied to your rewards balance within two billing cycles. Cardmembers get a flat rate of 1.5% cash back on every purchase, every day, and you don’t have to register every quarter to get it. You’re also not limited to select categories to get the cash back. And foreign transaction fees? There are none. Let’s say you spend $2,000 a month on the card. At unlimited 1.5% cash back, you’ll get $360 at the end of the year. Your rewards don’t expire during the life of the account, and you can redeem cash back for any amount.

The perks with the Capital One® Quicksilver® Cash Rewards Credit Card are pretty good considering it’s a no-fee credit card. There are the usual benefits that come with Visa Signature®, including access to once-in-a-lifetime experiences and food events, free 24-hour concierge service and special offers from retailers. There are also popular benefits like purchase security, roadside dispatch, travel and emergency assistance, auto rental collision damage waiver, lost luggage reimbursement and travel accident insurance.

Other cards may offer more bonus points or miles — for a higher spend — than the Capital One® Quicksilver® Cash Rewards Credit Card. They may also offer more in cashback rewards, especially in targeted categories like travel and dining, than what’s offered with this card.

Uber Visa Card

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The information related to Uber Visa Card has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication. Terms Apply.

Uber Visa Card

Regular Purchase APR
17.24% - 27.99% Variable
Annual fee
$0
Rewards Rate
5% back in Uber Cash on Uber rides, Uber Eats, and JUMP, 3% in Uber Cash on restaurants, bars, hotels, and airfare, and 1% back in Uber Cash on all other purchases.
New Uber Visa Card members can earn $100 in uber cash after spending $500 on purchases in the first 90 days. The cashback bonus is applied to your card as soon as you make the required purchases within the first 90 days after you open your account. As for foreign transaction fees? There are none for this card.

If you spend around $800 a month on dining, you’ll earn $384 a year in cash back. The cash back in the travel category includes airfare, hotels and home share services like Airbnb. Spend $1,500 a month with the Uber Visa Card on these categories and get $540 back after a year.

Additionally, music lovers who spend at least $5,000 a year on it can get up to a $50 credit for online digital subscription services. Plus, you get up to $600 for mobile phone damage or theft when you pay your mobile phone bill with your card. The card also gives you access to invitations to exclusive events and offers in select U.S. cities.

You can redeem your Uber Visa Card points for Uber credits, gift cards or cash back, all via the Uber app. As long as the account is active and in good standing, your points never expire. Redemptions for Uber Cash start at 500 points for $5. All other redemptions start at 2,500 points for $25.

There are other cards that offer higher cash back for popular categories like airfares, hotels and dining. Your cash back redemption is capped at $500 a day. And the card doesn’t have an intro balance transfer rate.

TruWest Visa® Signature Card

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TruWest Visa® Signature Card

Regular Purchase APR
9.40%-10.40% Variable
Annual fee
$0
With the TruWest Visa® Signature Card, you earn $100 when you spend $100 in the first 90 days after being approved. It’s not the most lucrative bonus out there, but we like it for a different reason: This is by far the lowest spend requirement among the three cards in this review. The best feature of the TruWest Visa® Signature Card is that it starts with a generous 0% introductory APR for 18 months on all purchases and balance transfers. After 18 months, there’s a very reasonable 9.40%-10.40% Variable APR.

Earn up to 1.5% cash back with the TruRewards program, plus get up to 1 point for every $1 spent.

The fine print: You must be a member of TruWest Credit Union, with a minimum deposit of $5 to qualify, before you can apply for the TruWest Visa® Signature Card. To become a member, you must either: live, work or own a business in Maricopa, Pinal, Pima or Yavapai counties in Arizona, or Travis or Williamson counties in Texas; attend school in Travis or Williamson, Texas; or be related to a current member or be the surviving spouse of a deceased member.

How to use points

You can earn 5,000 bonus points when you add a cardholder to your account, which gives you more ways to boost your point totals. You also earn up to 10 extra points per $1 spent when you use them to make qualifying purchases on the TruRewards website.

You can use your points and cash back in the Get Extra Points program, where you can apply your cash back to your credit card account, buy gift cards from TruWest or retailers, book a flight, hotel or cruise, buy more than 300 different items ranging from electronics to jewelry and donate points to your favorite charities. You can choose the split-pay option, where you can redeem points and pay for items using your TruWest Visa® Signature Card. Points that aren’t used within 48 months of the date they were issued will expire annually on Dec. 31.

Like the Capital One® Quicksilver® Cash Rewards Credit Card, the TruWest Visa® Signature Card gives you access to many of the benefits of the Visa Signature program.

Bank of America® Cash Rewards credit card - $200 Cash Rewards Offer

The Bank of America® Cash Rewards credit card - $200 Cash Rewards Offer gives new cardmembers a $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening, one of the highest in this category. Once you meet the spending requirement, the bonus will be applied to your rewards balance after eight to 10 weeks. This card offers 3% and 2% cash back on the first $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, 1% on all other purchases. The choice category is automatically set to gas; however, you can select a new category one tie each calendar month in the Bank of America mobile banking app or via online banking. Also, you aren’t required to select a new category each month – the current category will remain in effect until you decide to update it.
While the ability to choose which categories you earn bonus rewards in is ideal, keep in mind that the 3% and 2% bonuses can only be earned on combined spending of $2,500 per quarter. After that, the rewards drop to 1% cash back per dollar spent. That said, there are competing cards that offer more rewards per dollar spent in popular categories.
The information related to Bank of America® Cash Rewards credit card - $200 Cash Rewards Offer has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Chase Freedom Unlimited®

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The information related to Chase Freedom Unlimited® has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication. Terms Apply.

Chase Freedom Unlimited®

Regular Purchase APR
16.74 - 25.49% Variable
Intro Purchase APR
0% Intro APR for 15 months
Intro BT APR
0% Intro APR for 15 months
Annual fee
$0
Rewards Rate
1.5% cash back offer.
Balance Transfer Fee
3% intro balance transfer fee when you transfer a balance during the first 60 days your account is open, with a minimum of $5, then either $5 or 5% of the amount of each transfer, whichever is greater.
Credit required
good-credit
Excellent/Good

$150 Bonus after you spend $500 on purchases in your first 3 months from account opening. Earn unlimited 1.5% cash back on all purchases. For cardholders who want simplicity, the Chase Freedom Unlimited® is a great option, since you won’t have the hassle of opting into bonus categories that rotate each quarter. Plus, if you transfer your Chase Freedom Unlimited® rewards to a Chase Sapphire Preferred® Card or Chase Sapphire Reserve®, you can get even more value from your card. After transferring your rewards to either card, you’ll get  25% or 50% more value on those rewards (depending on which card you use) when you redeem them for travel through Chase Ultimate Rewards®. If you use this card outside of the country, be prepared to pay a foreign transaction fee of 3% of each transaction in U.S. dollars. Also, despite the convenience that the Chase Freedom Unlimited® offers, there are cards that offer higher rewards rates in popular categories, such as travel or dining. The only perks that come with the Chase Freedom Unlimited® are purchase protection, zero liability protection, fraud protection and extended warranty.

Alternatives to these cards

If these cashback bonus offers aren’t quite showing you the money, you may want to consider no annual fee cards that offer double cashback benefits as an alternative.

Citi® Double Cash Card – 18 month BT offer

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The information related to Citi® Double Cash Card – 18 month BT offer has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication. Terms Apply.

Citi® Double Cash Card – 18 month BT offer

Regular Purchase APR
15.49% - 25.49% (Variable)
Annual fee
$0
Rewards Rate
Earn 2% cash back on purchases: 1% when you buy plus 1% as you pay.
Credit required
good-credit
Excellent, Good

The Citi® Double Cash Card – 18 month BT offer allows you to earn 2% cash back on purchases: 1% when you buy plus 1% as you pay. There are no caps on the total amount of cash back you can earn. So if you charge $1,000 a month on the card, you’ll earn $120 cash back in a year. However, once you factor in the additional 1% cash back you earn when you pay your bill, that amount doubles to $240.

Once your cash rewards balance hits $25 or more, you can redeem your cash rewards for a check, a statement credit to your account or a credit to a linked Citi savings or checking account or to a checking account where you have paid a Citi credit card bill at least twice.

If your account is closed, you won’t be able to earn or redeem your cash rewards, and you forfeit any accumulated cash rewards. Your cash rewards balance will expire if you have not earned any cash back from purchases or payments for 12 months. Also, if you use this card when traveling outside of the U.S., you’ll be charged a 3% foreign transaction fee.

Discover it® Cash Back

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Rates & Fees

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Discover it® Cash Back

Regular APR
13.49% - 24.49% Variable
Intro Purchase APR
0% for 14 months
Annual fee
$0
Rewards Rate
5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate, 1% unlimited cash back on all other purchases - automatically.
Credit required
good-credit
Excellent/Good

The great thing with the Discover it® Cash Back is that it matches all the cash back new card members earn at the end of their first year. So if you earned $1,200 in cash back in your first year, Discover will match that for a total of $2,400 after your first 12 consecutive billing periods. The cash back is then applied to your account in the following one or two billing periods.

You can earn 5% cash back on categories that rotate quarterly on up to $1,500 in purchases. You must activate the bonus categories each quarter to earn the cashback reward. All other purchases earn 1% cash back. Although you can only earn the 5% rate on the first $1,500 in purchases each quarter in the bonus categories, there is no limit on the overall amount of cash back you can earn.

If you do a balance transfer, you can save money if you pay off the balance before the end of the card’s 14-month term. But you will pay a 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*. Note, the 3% rate is available on balance transfers that post to your account by Nov. 10, 2019.

The Discover it® Cash Back gives you free access to your FICO® Score on monthly statements, online and on the mobile app, and allows you to use the Freeze it® on/off switch feature that stops purchases, cash advances and balance transfers if you misplace your card.

After the first year, the Discover it® Cash Back’s cashback match rewards goes away. It also does not offer the more robust travel and purchase benefits of some other cards.

The bottom line

The introductory cashback bonuses for these credit cards can seem appealing when you first sign up. But you need to ask which benefits remain once you spend that initial bonus. And you need to balance whether the card is just as appealing once the more attractive intro purchase and balance transfer rates expire.

Since you don’t have to worry about annual fees, focus on a card with benefits that go beyond the initial intro cashback bonus. You want to get unlimited rewards with at least 1% cash back at a bare minimum.

It’s even better if you get a card that goes above the usual 1% on items in selected categories. And you want a card that offers secondary perks like travel discounts, purchase and travel insurance and car rental collision coverage.

Keep your balances low and pay your card on time because you may end up paying your credit card company for the privilege of getting cashback rewards.

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Benét J. Wilson
Benét J. Wilson |

Benét J. Wilson is a writer at MagnifyMoney. You can email Benét J. at [email protected]