The best cash back credit cards can reward you for daily shopping, such as your grocery store and gas station, as well as travel, entertainment, and online shopping. These cards usually charge annual fees in exchange for better benefits, and credit card issuers may also offer welcome bonuses or promotional APR periods. You can choose a fixed amount cash back card and a classification card suitable for specific consumption habits. Check out the four types of cash back credit cards and understand how these cards work.
- American Express Blue Cash Preferred
The Blue Cash Preferred card offers better reward rates than Blue Cash Everyday, an annual fee reduction of $95 for the first year, and useful privileges for daily shopping.
The cash back category includes eligible streaming services and 6% of grocery store purchases (the first $6,000 per year), 3% of U.S. transportation and gas stations, and 1% of other eligible purchases. This card provides other benefits, such as a $120 Equinox+ subscription, car rental insurance, special entertainment experiences, and return protection.
If you spend up to US$3,000 within 6 months after opening your account, the card will provide a welcome bonus of US$350. You can also purchase a zero annual interest rate during the first 12 billing periods (the variable annual interest rate thereafter is 13.99% to 23.99%). Check this American Express page to review the applicable terms and submit an application.
Although the reward rate is lower than other cashback reward cards, Citi Dual Cash MasterCard is the most flexible card because it does not have a specific consumption category or consumption cap.
- Capital One Savor Rewards
The Capital One Savor Rewards Card is designed for large-scale entertainment and dining. The annual fee is US$95, and the credit score requirements are high.
The reward program provides you with a 4% return on entertainment purchases, such as streaming subscriptions and restaurant visits, and a 3% return on US supermarkets. You will get a 1% rebate at other retailers. Redemption options include receiving funds on PayPal, spending rewards on Amazon.com, choosing a gift card, and obtaining a statement.
New Capital One cardholders consume US$3,000 in 90 days after opening the card, and the card reward is US$300. There is no special introduction to APR, so you need to pay 15.99% to 23.99% at the beginning.
- Bank of America customized cash rewards
The Bank of America Customized Cash Rewards Credit Card is a Visa Signature card with no annual fee. Its outstanding feature is that you can choose your highest reward category.
Although the profit rate of wholesale clubs such as Costco and grocery stores is 2%, you can choose to get 3% cash back when shopping online, gas station shopping, home improvement stores, restaurants, pharmacies or travel shopping. Everything else will generate a one percent return. There are more opportunities for bonus rewards.
You can enjoy 15 months of balance transfer without paying interest on purchases, and then enjoy an interest rate of 13.99 to 23.99%. You can get a $200 refund if you spend over $1000 within three months after opening the account. You can view the terms and apply here.
- Citi dual card
Although the reward rate is lower than other cashback reward cards, Citi Dual Cash MasterCard is the most flexible card because it does not have a specific consumption category or consumption cap. You will also not pay the annual fee.
The card will give you 1% reward when you buy any goods, and when you pay off the card, you will get a total of 2% reward again. The problem is that you have to pay on time to get the second reward. Once you have accumulated $25 in rewards, Citi will provide flexible redemption options and you can also get additional benefits, such as special entertainment experiences.
The interest rate on the Double Cash card ranges from 13.99% to 23.99%, but Citi offers a promotion where you don’t need to pay balance transfer interest (3% fee) in the first 18 months. You can find more information on this page and apply now.