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10 Best 5% Cash Back Credit Cards for September 2020

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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 independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Chase Freedom®

Regular Purchase APR
14.99% to 23.74% 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 $200 bonus after spending $500 on purchases in your first 3 months from account opening.

Earn 5% back in these categories in 2020 (quarterly categories are announced throughout the year):

  • January to March 2020: Gas stations, select streaming services and internet, cable and phone services.
  • April to June 2020: Gym memberships, fitness clubs and grocery stores.
  • July to September 2020: Amazon.com and Whole Foods Market
  • October to December 2020: Walmart and PayPal

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

How it works: With the Discover it® Cash Back you earn 5% cash back on everyday purchases at
different places each quarter like grocery stores, restaurants, gas stations, select rideshares and online shopping, up to the quarterly maximum when you activate. The 5% is limited to $1,500 spending per quarter, 1% after that. Activation is required.

Earn 5% cash back in these categories throughout 2020:

  • January through March 2020: Grocery stores, Walgreens, CVS
  • April through June 2020: New! The Home Depot (June), Gas stations, Uber, Lyft and Wholesale Clubs
  • July through September 2020: Restaurants and PayPal
  • October through December 2020: Amazon.com, Target.com, and Walmart.com

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 the spending limit, 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. The card also comes with a $0 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 2020: 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 2020:

  • 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
13.99% - 23.99%* (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 independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Amazon Prime Rewards Visa® Signature Card

Regular Purchase APR
14.24% to 22.24% 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: Platinum Visa® from Abound Credit Union

Platinum Visa® from Abound Credit Union

Platinum Visa® from Abound Credit Union

Regular Purchase APR
10.75% - 18.00% Variable
Annual fee
$0
Rewards Rate
Unlimited 5% cash rewards for gas and 1% cash rewards for other eligible purchases.

How it works: The Platinum Visa® from Abound Credit Union makes our list with the most straightforward, no cap rewards program. You can Unlimited 5% cash rewards for gas and 1% cash rewards for other eligible 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
13.40% - 27.40% 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.

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Earning Cashback

Best Rewards Credit Cards: Double miles, 5% cash, and more – September 2020

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Rewards Credit Cards Illustration

Looking for a rewards credit card to earn cash or free travel from the spending you’re already doing? Because there are hundreds of rewards cards on the market, we’ve hand-picked the very best ones, most with no annual fee.

If you want a card to earn cashback rewards, your best bet is to use our calculator to get a personalized recommendation based on your spending habits. Otherwise, read our guide, created to help you understand if you’re ready to earn rewards and whether earning cash back or points/miles for travel rewards is your best bet.

Intro 0% for 15 months and rewards

The Amex EveryDay® Credit Card from American Express is a $0 annual fee card that earns 2x points at US supermarkets, on up to $6,000 per year in purchases (then 1x), 1x points on other purchases.

With Membership Rewards Points, you can turn your points into real airline miles with several frequent flier programs, including Delta SkyMiles, JetBlue TrueBlue and British Airways Executive Club. If you fly Delta and use SkyMiles this is a simple way to build on the SkyMiles you already have without a fee (since the Delta-branded cards all have a fee). Check here to see if focusing on convertible points that can turn into real airline miles is a good plan for you.

Even better, if you don’t want to deal with airline miles, you have the flexibility to use your points for travel on almost any airline. Just book your flight via the American Express Travel website and pay for it with points. Other redemption options include gift cards, merchandise, pay with points at checkout and statement credit.

This card also comes with an intro 0% for 15 Months on purchases that allows you to carry a balance without racking up interest (after the intro period, 12.99% - 23.99% variable APR). And, you earn Membership Rewards points on those purchases!

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  • Simple Welcome Offer
  • You need 20 transactions each month to get the 20% bonus

Tip: Make any large purchases or balance transfers as soon as you can so you can benefit from the intro 0% for 15 Months on purchases and intro 0% for 15 Months on balance transfers (after, 12.99% - 23.99% variable APR).

To see rates & fees for The Amex EveryDay® Credit Card from American Express, please click here.

Read our full review of The Amex EveryDay® Credit Card from American Express here.

1. Cash back rewards credit cards

Start here: No annual fee, 2x cash

The most important recommendation we can make is to start with either the Citi® Double Cash Card – 18 month BT offer or Fidelity® Rewards Visa Signature® Card in your wallet.

Both earn double cash on everything you purchase and pay off with no limits, and no annual fee.

If you prefer MasterCard or have less than perfect credit, go with the Citi® Double Cash Card – 18 month BT offer. If you prefer Visa or plan to use the card abroad, go with the Fidelity (it has a low 1% foreign transaction fee).

If your credit is fair or you have no credit history, then consider one of these options with a slightly lower cash back rate.

Once you have one of these base cards, you can look at our other favorite cards to earn 3%, or even 5% on some of your other spending. You can scroll down this page to see our top picks, or go to our full directory of dozens of cards that earn 3% or better cash back in many categories.

Citi® Double Cash Card – 18 month BT offer

Easy double cash rewards

The Citi® Double Cash Card – 18 month BT offer has easy double cash rewards with a $0 annual fee.

You earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. So it’s easy to earn double cash on everything you buy with the card.

And since there’s a $0 annual fee, you don’t have to miss out on the seductive 5% cash back you sometimes see on other cards. Just keep the Citi® Double Cash Card – 18 month BT offer in your wallet for most of your spending, and if you have a card that earns 5% in special categories, just use it for that spending, so you can really rack up the cash rewards.

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  • Earning cash back is simple – there are no special categories or limits
  • There is a fee on foreign transactions, so only use this card for purchases in the U.S.

Tip: You need to earn or use rewards at least once every 12 months, or else your rewards will expire.

Alliant Cashback Visa® Signature Card

2.5% cash back with an annual fee

If you’re willing to pay a $99 annual fee, waived the first year, this card offers an unlimited 2.5% cash back on all purchases. Alliant is a credit union anyone can join online and you don’t need to be a member to apply. If you travel abroad there are no foreign transaction fees to worry about. So is the fee worth it? Basically, if you spend more than $1,000 a month on the card, you’ll earn more than the annual fee in cash back compared to the Citi® Double Cash Card – 18 month BT offer.

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  • Good disclosure: they tell you what they need to know
  • Simple introductory bonus
  • Impossible to know your interest rate until you apply

Tip: Be aware this card is only for people who are eligible for high credit limits, so it’s harder to get than the Citi® Double Cash Card – 18 month BT offer. You’ll need excellent credit and a good income to qualify.

Up to 5% rewards with a little effort

Once you have a double cash rewards card in your wallet, you’re ready to start considering cards that earn 5% cash back in special categories. If you’re really serious about earning the most cash from your spending, you can get all of these rotating category cards and leverage the fact they earn 5% in different categories. Then, use your base double cash rewards card for everything else.

All of these cards have a limit on how much cash back you can earn at 5%, so you’ll want to pay attention to that, and some of them require you to enroll each quarter to activate your 5% cash back, so if you miss the deadline you’ll earn just 1%.

Chase Freedom®

Our pick for small spenders & travelers

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.

If you spend the full $1,500 in bonus categories each quarter all year long, you could earn $300 cash back a year from your bonus category spending.

See the Chase Freedom® 2020 calendar:

  • January – March 2020: Gas stations, select streaming services and internet, cable and phone services
  • April – June 2020 – Gym memberships and fitness clubs, grocery stores and select streaming services
  • July – September 2020 – Amazon.com and Whole Foods Market
  • October – December 2020 – Walmart and PayPal

A good introductory bonus for small spenders. Earn a $200 Bonus after spending $500 on purchases in your first 3 months from account opening. That’s like earning 30% cash back on your first $500 in purchases with the card and gets you off to a fast start.

Boost your travel rewards. If you have a Chase Sapphire Preferred® Card or a Chase Sapphire Reserve®for travel rewards, you can combine your points with those from the Chase Freedom®, letting you turn your Chase Freedom® points into real airline miles with Chase Ultimate Rewards® partners like United MileagePlus® and Southwest Rapid Rewards®, which can make your points worth even more.

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  • There’s a nice, simple sign on bonus
  • You have to enroll every quarter to earn 5% in bonus categories
  • There are late payment and cash advance fees.

Tip: You generally have about two and a half months during the quarter to activate your 5%. For example, for October – December 2020, you can activate by Dec. 14, 2020 and still get the 5% in your bonus category spending for the whole quarter, even if you made purchases in the category before you activated.

Best 5% cash for bigger spenders

The Discover it® Cash Back and Chase Freedom® are pretty similar when it comes to rewards, but if you spend more than about $1,000 a month, the Discover it® Cash Back is your better bet if you’re looking to choose just one.

Double cash back better for big spenders. As an intro offer 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. So big spenders get more out of this than the introductory offer on the Chase Freedom®.

Plenty of 5% categories. Earn 5% cash back on everyday purchases at different places each quarter like grocery stores, restaurants, gas stations, select rideshares and online shopping, up to the quarterly maximum when you activate. The 5% is limited to $1500 spending per quarter, 1% after that. Activation is required. Earn 1% unlimited cash back automatically on all other purchases.

See Discover’s 2020 cashback calendar:

  • January – March 2020: Grocery stores, Walgreens, CVS
  • April – June 2020 – New! The Home Depot (June), Gas stations, Uber, Lyft and Wholesale Clubs
  • July – September 2020 – Restaurants and PayPal
  • October – December 2020 – Amazon.com, Target.com, and Walmart.com

If you spend the full $1,500 in bonus categories each quarter all year long, you could earn $300 cash back a year from your bonus category spending.

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  • There’s a nice, simple sign on bonus
  • You have to enroll every quarter to earn 5% in bonus categories

Tip: One gotcha about the Discover it® Cash Back is that you only get the 5% in bonus categories for spending you do after you activate your bonus each quarter. For example, for the July through September 5% categories, if you activate on Aug. 15, only spending from Aug. 15 to the end of September will qualify, even if you made purchases in a 5% category before then.

Visa® Platinum Rewards Credit Card from Nusenda Credit Union

Best 5% with no enrollment hassle

If you want 5% in rotating categories each quarter without having to enroll each quarter, consider the NUSENDA Credit Union’s Platinum Cash Rewards card.

Automatic 5% categories. You’re automatically eligible for 5% cash rewards each quarter, up to $1,500 worth of spending across the categories each quarter. Currently that’s typically a $1,500 per quarter maximum, like the Chase Freedom®. But the categories where you can earn 5% are a bit broader.

For 2020, the 5% cashback bonus categories include:

  • January – March: Groceries and gas expenses
  • April – June: Restaurants, movies, and home improvement
  • July – September: Gas and education expenses
  • October – December: Restaurants, hotels and airfare

The introductory bonus is the weakest of the bunch, and offers 2% on all your purchases for the first 90 days. You’d have to spend $15,000 in 90 days to beat the Chase Freedom®‘s $150 sign on-bonus (Earn a $200 Bonus after spending $500 on purchases in your first 3 months from account opening.)

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  • No need to enroll every quarter to earn 5% in bonus categories
  • You need to join a credit union, though anyone can join NUSENDA

Tip: When you apply, you’ll be asked where you live or work to determine your eligibility to join NUSENDA Credit Union. If you don’t live in one of the New Mexico counties listed on the application, just enter the company you work for, and they’ll call you to offer you a non profit organization you can join for a small one time fee to be eligible.

Cash back for frequent diners

What’s better than 2% cash rewards? 3%.

While you can get 5% cash back on dining some quarters with the 5% foursome cards above, to get consistently good cash back on dining all the time, read on.

You can also check out our full list of the best cards for dining cash back.

Uber Visa Card

Best unlimited dining cashback rewards

There is a $0 annual fee with this card. The Uber Visa Card offers 5% back in Uber Cash on Uber, Uber Eats, and JUMP, 3% back in Uber Cash on dining, hotels, and airfare and 1% back in Uber Cash on all other purchases You can earn points through UberEATS and web shopping to video and music streaming services.

This rate is great for people who dine out, whether it’s through a restaurant, a bar, a takeout joint on the corner or UberEATS.

There is a great sign-up bonus: Earn $100 in Uber Cash after spending $500 on purchases in the first 90 days. Also, you can earn up to a $50 credit for online subscription services after you spend $5,000 or more on your card per year.

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  • Good disclosure: they tell you what you need to know
  • Simple introductory bonus
  • Impossible to know your interest rate until you apply

Tip: Use this card for all dining, hotel and airfare purchases to maximize your rewards at the higher percentage rate.

Grocery cash rewards

Groceries are one of the most popular spending categories, and you can check out our full list of the best cards for grocery cash back.

But if you’re out to earn the most possible cash back from your grocery shopping, here is our pick:

Blue Cash Preferred® Card from American Express

Best grocery cash back for heavy shoppers

The Blue Cash Preferred® Card from American Express is the card that can earn the most cash from U.S. supermarket purchases at 6% up to $6,000 per year, then 1%, but there are two big hoops to deal with.

  1. There’s a spending limit of $6,000 a year in supermarket spending that earns 6% (then 1%), so you can get a maximum of $360 a year in rewards at the 6% rate.
  2. There’s a $95 annual fee. So, this is really offering 4.4% cash back on supermarket spending if you spend the full $6,000 a year at U.S. supermarkets and take the annual fee out of your rewards.

So the rule is this: if you spend about $300 – $800 a month at supermarkets, consider this card. Otherwise, get 3% back at supermarkets with no annual fee with the Blue Cash Preferred® Card from American Express or Consumers Credit Union Visa Signature Cash Rebate Card (anyone can join their credit union).

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  • The biggest supermarket cash back rate.
  • There is a $95 annual fee and a cap on the supermarket cash rewards you can earn at 6%.

Tip: If you shop at big box stores like Walmart or Target, those aren’t considered supermarkets, even when you’re buying groceries, and spending there won’t earn the grocery cash back bonus.

To see rates & fees for Blue Cash Preferred® Card from American Express, please click here.

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Amazon Prime Rewards Visa® Signature Card

Best grocery cash back for Whole Foods Market

The Amazon Prime Rewards Visa® Signature Card offers cardholders to 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. The rate you earn at Whole Foods Market rivals other grocery cards and is great considering there is no cap on the amount you can spend and no annual fee. However, keep in mind a Prime membership is required — annual plans cost $119 or $59 for students.

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  • Earn a high cash back rate on Amazon.com and Whole Foods Market purchases
  • Prime membership is required to earn the 5% back on Amazon.com and Whole Foods Market purchases

Tip: Remember to tie your Amazon.com account to your card in order to earn the top points per dollar spent at Amazon.com and Whole Foods Market.

Cash rewards for less than perfect credit

If you’re credit’s not perfect, but you’re now able to pay your cards in full each month, you won’t yet qualify for the very best cash rewards, but you can do well with no annual fee.

Best cash rewards for rebuilding credit

If you have little or no credit history, or are rebuilding credit, the Discover it® Secured is the best way to do it while earning rewards.

You can earn 2% cash back at Gas Stations and Restaurants on up to $1,000 in combined purchases each quarter. Plus, earn unlimited 1% cash back on all other purchases – automatically . A security deposit of $200 or more will establish your credit line (up to the amount that Discover can approve). There are automatic monthly reviews starting at 8 months to see if you can be transitioned to an account with no security deposit.

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Tip: You will get your official FICO® credit score for free with this card. Watch it closely, because the goal of a secured card is to graduate to an unsecured card as quickly as possible.

2. Travel Rewards Cards

Real airline miles

If you’re serious about travel, you want points that give you the option to turn them into real airline miles. Yes, there are ‘no hassle’ cards out there that promise to avoid the rules and traps of airline miles, but you’ll often pay more in points if you use those cards, especially if you’re flying on expensive international flights.

 Chase Sapphire Preferred® Card

Best for serious travel rewards

Serious travel rewards are all about being able to earn points you can transfer into real airline miles or hotel points with several travel partners, and the Chase Sapphire Preferred® Card‘s roster of partners is one of the most useful round. It’s why so many travel enthusiasts love this card.

Transfer to airline hotel travel partners. You can transfer your points to 10 airline and three hotel partners: Aer Lingus AerClub, British Airways Executive Club, Emirates Skywards, Flying Blue AIR FRANCE KLM, Iberia Plus, JetBlue TrueBlue, Singapore Airlines KrisFlyer, Southwest Rapid Rewards, United MileagePlus, Virgin Atlantic Flying Club, IHG Rewards Club, Marriott Bonvoy and World of Hyatt.

A fallback for when mile seats aren’t available. You always have the option to book flights directly via Chase on most airlines without the restrictions of frequent flier programs. Every 10,000 points is worth $125 in flights, hotels, or rental cars booked via the Chase website.

A big introductory bonus. The Chase Sapphire Preferred® Card comes with a big introductory bonus offer that can earn you award travel fast. Earn 80,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $1,000 toward travel when you redeem through Chase Ultimate Rewards®.

2x points on dining and travel. You get double points on all dining and travel purchases you make, even cab rides, fast food, and subway tickets.

Check to see if trying to convertible points that can turn into real airline miles makes sense for your habits, but if it does, this is a great card to get started earning big travel value fast.

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  • There are no foreign transaction fees.
  • There is an annual fee of $95.

Tip: For a real powerhouse combo, pair this up with a no annual fee Chase Freedom®. The points you earn from the Chase Freedom® can be added to those from your Chase Sapphire Preferred® Card, letting you take advantage of the fact the Chase Freedom® earns 5x points in special bonus categories.

And if you really want to turbocharge rewards, but can deal with a higher annual fee, the Chase Sapphire Reserve® offers 3x points on travel and dining.

Points that work like cash for travel

If you don’t want to put in the work to get the extra value real airline miles can offer, but like rewards for travel, consider a card that earns points that work like cash. With these cards you just pay for your flight or hotel with the card, and then use points to get statement credit.

Best for not messing with miles

If you’re a big traveler, the action is with real airline miles. But if you don’t want to keep track of rules, and still want great rewards for travel, the Capital One® Venture® Rewards Credit Card is one of the biggest earners available.

Transfer miles earned. The Capital One® Venture® Rewards Credit Card is one of four Capital One® cards that allows you to transfer the miles you earn to 14 airline loyalty programs, with more partners to be announced in the future. Transfers can be done at a rate of 2 Venture miles to 1.5 airline miles with most participating airlines. Miles are transferred at a rate of 2:1 to the Emirates Skywards and Singapore Airlines KrisFlyer programs.

Pay for travel, get it reimbursed. Instead of using an airline mile program, with the Capital One® Venture® Rewards Credit Card you just pay for travel with your card, then use your Venture® miles to get it reimbursed on your statement. 10,000 miles is worth $100 toward any travel.

2x miles on everything. Everything you buy with the card earns 2 Miles per dollar on every purchase, every day, so you can earn up to twice as fast as many airline cards.

A big introductory bonus. The Capital One® Venture® Rewards Credit Card comes with a big introductory bonus offer that can save you hundreds on your next trip.

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  • There are no foreign transaction fees.
  • Annual Fee: $95 annual fee.

Tip: You can’t mix and match Venture® miles with any regular airline miles you already have. Venture® miles are simply like cash you can use to pay for travel charged to your card.

Best for savers with no annual fee

This card has a pretty basic. You Earn unlimited 1.5 points per $1 spent on all purchases, and you can use those points to cover any travel purchase. There is a $0 annual fee and no foreign transaction fee.

$50,000+ in Bank of America accounts = big earning. Where it gets interesting is if you have $50,000 or more in retirement, savings, checking, or other account balances with Bank of America. That qualifies you for the Bank of America Preferred Rewards program which lets you earn 2.25x – 2.6x points per dollar with no limits.

That’s because Platinum and Platinum Honors level members of Preferred Rewards get a 50% – 75% more points on all the points earned with many Bank of America credit cards, including the Travel Rewards card.

You can rollover any of your 401k or IRA accounts to a Merrill Edge account with no maintenance fees, so you don’t need a huge checking or savings account balance to get this benefit.

No other card offers so much straight cash for travel earning potential off your spending across any category.

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  • There are no foreign transaction fees.
  • You need a big balance in Bank of America accounts to get the most out of the card.

Tip: Bank of America cards have the option to request a PIN that you can use for foreign purchases at places that don’t accept a signature.

3. Learn more

Are you ready to earn rewards with a credit card?

Rewards credit cards can be great, and earn you hundreds of dollars a year in savings, but they are still credit cards, with all the dangers that come with them.

Answer these questions

If you answer yes to any of these questions, you’re not ready for a rewards credit card.

  • Are you unsure if you’ll be able to pay your balance in full every single month?
  • Do you plan to do a balance transfer to your card?
  • Do you sometimes make late payments?
  • Do you tend to max out your current credit limit, even if you pay it off?

Even if you can safely say ‘no’ to the questions, be aware that the lure of rewards can cause you to spend more than you otherwise would.

Credit card companies make money every time you spend on the card, so they want you to spend more. And the more you spend, the greater the chance you spend more than you can afford, which makes them even more money in interest payments.

Cash back or miles for travel?

We don’t think most people should be messing with travel rewards.

Cash rewards cards are more generous than ever and choosing our favorite cash rewards cards will earn you 2% or better on your spending, which is hard to beat even with travel rewards.

You’ll get rewards you can use anywhere – to pay down bills, give a gift, or whatever you want – all with the same good value.

Travel rewards require extra effort, and they tend to penalize you if you use your rewards for something besides travel.

If you already travel twice a year or more, then travel rewards can sometimes offer you more rewards than straight cash back and you should read on.

We’ll cover cash back for travel, real airline miles, and a newer development, convertible points that can turn into real airline miles, but give you more flexibility.

Cash back for travel

Cards with cash rewards let you book travel with any airline or hotel, any time.

You don’t have to think about award rules or restrictions, but you get less value for your points if you try to use them for rewards that don’t involve travel, but you’re usually better off just earning straight cash rewards via a card like the Citi® Double Cash Card – 18 month BT offer.

Best for: People who want to keep it simple (but a regular cash rewards card Is usually better)

Pros

You can use the rewards for any travel. You can pay for travel with your card and use points to get credit back. No worrying about airline award seats or

There are lots of special category bonuses. If you’re really into maximizing things, cash rewards have the biggest array of extra points you can earn from special categories like grocery, gas, or dining spending. We keep a full list of them here.

Usually no annual fee. Cash rewards cards mostly have no annual fee to worry about.

Cons

They don’t have the biggest intro bonuses. The very biggest introductory offers are typically reserved for cards that earn airline miles or other travel rewards.

Expensive tickets aren’t as good a deal. If you spend a lot and can earn a lot of airline miles, you can save a lot on tickets that are expensive in cash, like big international trips or first class tickets.

Real airline miles

These are cards that earn miles directly into your account with one airline, like a Delta SkyMiles American Express. They’re usually not the fastest way to earn miles, but they often come with other benefits like a free checked bag.

Our rule of thumb is you should only consider airline miles if you typically spend $2,000 or more in a month on a credit card, so you can earn enough miles for an award in a reasonable amount of time. Otherwise, stick with a cash back rewards card.

But spending $2,000 a month isn’t the only factor. You should also be able to answer YES to at least one of these three questions:

  1. Do you have 5,000 or more existing airline miles?
  1. Are you planning to fly in business or first class?
  1. Do you want to go to expensive destinations like Asia, Europe, Africa, South America, or Australia?

If you can answer YES to one of them, then airline miles are a good choice for getting the most out of your card spending.

Pros

They can get you luxurious flights. If you’re really flexible with dates and times, a good chunk of real airline miles can get you flights that would otherwise cost thousands of dollars in cash.

You can build on miles you earn from flying.

If you fly more than a few times a year, this can be really lucrative since the miles you earn from your credit card get to build on the ones you already have, getting you to an award ticket a lot faster than spending on a card that just earns regular cash rewards.

They have big intro bonuses

Often, the most generous deals that offer you a bonus to open a new account are on cards that offer travel rewards, rather than regular cash rewards. That’s because travel rewards are more restricted, and not appealing to everyone.

Cons

If you don’t have a big balance, they can be hard to use. To get the most out of airline miles, you really need to pay attention to things like what airline partners you can use with which miles, where to search for award seats, and how many miles is a ‘good’ price to pay.

They can expire. Many airline miles expire after a year or so if you leave your account dormant. It’s easy to avoid it by earning or spending just one mile, but a lot of people forget and end up losing their miles, so unless you’re willing to make them a habit, stay away from regular airline miles.

You need a lot of them to get a good value award. Here’s how much you can expect to pay for flights with miles:

  • 25,000 – 50,000 miles: domestic roundtrip ticket in Economy class (typical value: $300 – $1,000)
  • 50,000 – 100,000 miles: domestic roundtrip ticket in First Class (typical value: $500 – $1,500)
  • 60,000 – 100,000 miles: international roundtrip ticket in Economy Class (typical value: $800 – $1,500)
  • 100,000 – 200,000 miles: international roundtrip ticket in Business Class (typical value: $2,500 – $5,000)

That’s a lot of miles. And if you’re just sticking to one credit card, don’t fly much, and

They have annual fees. Most cards that can earn you real airline miles carry a hefty annual fee, which isn’t worth it if you don’t travel much.

You’re locked into one program. Miles you earn via a traditional airline miles card are stuck in that one program, so if the airline suddenly raises prices or changes rules you’re stuck. Instead, consider convertible points (below) which we prefer over plain airline miles.

Convertible points

These are the newest kind of rewards on the block, and cards like the Chase Sapphire Preferred® Card earn points you can convert into real airline miles with certain airlines anytime.

For example, the Chase Sapphire Preferred® Card will let you convert points into miles with United MileagePlus® and Southwest RapidRewards®, so you’re not locked into just one airline program.

Best for: People who want to take advantage of real airline miles, but want extra flexibility

Pros

You get all the advantages of airline miles. With convertible points like Chase Ultimate Rewards® or Amex Membership Rewards®, you can turn your points into real airline miles with several airline programs at any time. The catch is once you turn points into real airline miles, you can’t convert them back.

You’re not stuck with one airline. Convertible points cards let you turn points into real airline miles with several participating airlines, so you have even more options than a traditional airline miles card.

You get some of the cash rewards benefits. Points from convertible points cards can be used for a lot of things besides travel, like gift cards, merchandise, and sometimes statement credit, though your points tend to go much further using them for travel.

Cons

Cash rewards aren’t as generous. If you don’t have a need for airline miles at all, don’t go for a convertible points card. Stick to a straight up cash rewards card and your points will stretch further. Convertible points cards tend to be less generous for straight cash rewards because they use the savings there to help fund the cost of being able to convert your points into real airline miles.

There are usually annual fees. You’ll generally have to pay an annual fee to get a card that earns convertible points. The Amex EveryDay® Credit Card from American Express is a notable exception. So again, only use these cards if you can answer “yes” to the 3 questions you should ask before earning airline miles with a credit card.

The information related to The Amex EveryDay® Credit Card from American Express, Citi® Double Cash Card – 18 month BT offer, Chase Freedom®, Amazon Rewards Visa® Signature Card, Chase Sapphire Preferred® Card, Chase Sapphire Reserve® and Bank of America® Travel Rewards Credit Card has been independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply to American Express credit card offers. See americanexpress.com for more information.

Questions and Answers

With most cash rewards credit cards, your rewards won’t expire as long as you keep your account open. But some like the Citi® Double Cash Card – 18 month BT offer require you to either earn or use rewards at least once every so often. For the Citi® Double Cash Card – 18 month BT offer that’s once every 12 months.

With cash rewards, you may lose all of your unused rewards if you close your account, so make sure you use them before closing. With travel rewards, miles you hold in an airline program aren’t affected if you close your credit card account, but they will be subject to whatever expiration rule the airline has.

No – you can earn rewards, even if you pay off your entire balance each month before it’s due.

Most cash rewards cards have no annual fee. But if you have an annual fee card, and don’t want to pay the fee, you can sometimes ask your bank to ‘downgrade’ you to a version with no fee. It might earn fewer rewards, but you can avoid the hassle of closing your account altogether.

Many cards won’t give you the rewards from your spending in months where you are late on your payment, so always make your payments on time with a rewards card.

Usually mortgage services and other loan providers don’t accept credit card payments. Some companies will make payments on your behalf with a credit card, but you’ll be charged a fee, and often that fee is more than the rewards are worth.

Most cards don’t offer rewards for ‘cash equivalent’ transactions like using a cash advance. Some will offer you rewards for completing a balance transfer, but you’re likely to get hit with fees or a less favorable deal than if you use a good card designed for balance transfers..

If you have cash rewards, just send the cash to whomever you want. If you have travel rewards, many cards will let you combine your points with your spouse or domestic partner. Otherwise, you can just book tickets for someone else using your points if you want to make a gift. Airline miles usually can’t be shared with other people unless you want to pay a fee.

You shouldn’t be carrying a balance month to month on rewards cards, because the interest rates on them is sometimes higher than on cards with no rewards. But if you do end up carrying a balance over from one month to another, your rewards won’t disappear as long a you make your payment on time.

5% cards are designed to catch people who aren’t paying attention. So if your card has an enrollment requirement to earn 5% each quarter, and you miss it, you’ll be out of luck for earning 5%.

Yes, many cash rewards cards offer rewards in the form of statement credit, and that reduces the balance you need to pay on your account.

Some cards require you keep your account open for a certain number of months, or else you will lose any sign on bonus you earned. It’s usually best to keep a card open for about a year or more.

Usually authorized users earn rewards in the same account as the primary user.

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Credit Cards

Best Cashback Sign-Up Bonus Offers of September 2020

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

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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 benefits 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

The sign-up bonus for the Capital One® Savor® Cash Rewards Credit 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 Jan 2022.

Additionally, cardholders earn 4% Cash Back on select streaming services, including Netflix, Hulu and Disney+, through Sept. 30. 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

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 benefits 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

Uber Visa Card

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

Uber Visa Card

Regular Purchase APR
17.24% - 27.99% Variable
Annual fee
$0
Rewards Rate
5% back in Uber Cash on Uber, Uber Eats, and JUMP, 3% back in Uber Cash on dining, 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

TruWest Visa® Signature Card

TruWest Visa® Signature Card

Regular Purchase APR
7.90%-8.90% 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 7.90%-8.90% 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

The Bank of America® Cash Rewards Credit Card 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.

Chase Freedom Unlimited®

Chase Freedom Unlimited®

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

Chase Freedom Unlimited®

Regular Purchase APR
14.99% - 23.74% Variable
Intro Purchase APR
0% Intro APR for 15 months
Intro BT APR
N/A
Annual fee
$0
Rewards Rate
Earn 5% cash back on travel purchased through Chase, 3% on dining and drugstores, and 1.5% on all other purchases.
Balance Transfer Fee
Either $5 or 5% of the amount of each transfer, whichever is greater.
Credit required
good-credit
Excellent/Good

Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening. And earn 5% cash back on grocery store purchases (not including Target® or Walmart® purchases) on up to $12,000 spent in the first year. 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 benefits 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

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 independently collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

Citi® Double Cash Card – 18 month BT offer

Regular Purchase APR
13.99% – 23.99% (Variable)
Annual fee
$0
Rewards Rate
Earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
Credit required
good-credit
Excellent

The Citi® Double Cash Card – 18 month BT offer allows you to earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases. 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

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.

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 benefits 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.

The information related to Bank of America® Cash Rewards Credit Card has been collected by MagnifyMoney and has not been reviewed or provided by the issuer of this card prior to publication.

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