There are many good reasons why reward credit card users will want to forgo airline miles and hotel points, and earn good cash back instead. Some people are never able to realize much value from travel rewards, especially when they need to travel during peak periods, such as the holidays. Furthermore, the airlines and hotels always have the option of changing the terms of their programs, and making their points and miles worth less. And finally, some people just don't travel frequently enough to value these rewards, and cash back can be used for anything, not just travel.
So if you prefer cash back rewards to merchandise or travel, consider these seven top cash back reward credit cards:
Discover it® Cashback Match™
The Discover it® Cashback Match™ card is a great product for those who want a high rate of return. Each quarter, cardholders will receive 5% cash back on up to $1,500 at merchants in featured categories, such as gas, ground transportation, restaurants, movies, and Amazon.com. Cardholders always earn 1% cash back on all other purchases. In addition, this card also offers to double the cash back rewards received during the first 12 months of account opening. Cash rewards may be redeemed at any amount, starting with one cent, for a statement credit, an electronic deposit to a bank account, or a donation to a designated charity, including American Cancer Society, American Red Cross, Operation Homefront, and more. Additionally, cardholders can use their rewards to pay for purchases from select online stores, including Amazon, iTunes, and others. Finally, you can redeem cash back for gift cards or instant eCertificates from Discover partners. You will have access to your credit score for free, helping you to stay on top of your finances. If you misplace your card, you can freeze and unfreeze it through the online system or the Discover it mobile app, providing you with peace of mind. In addition, Discover will give you a break by automatically waiving your first late payment fee. This card has no annual fee, no foreign transaction fees, and no penalty interest rate.
Chase Freedom® also offers cardholders the option to receive bonus cash back through quarterly bonus categories. Each quarter, cardholders can enjoy 5% cash back up to $1,500 spent in featured bonus categories, which can include grocery stores, movies theaters and Starbucks, along with restaurants, Bed Bath and Beyond, H&M, gas stations and Amazon. You can also earn an unlimited 1% cash back on all purchases. You can redeem cash back rewards, which are tracked as points, for cash starting at 2,000 points through a statement credit or deposit into an eligible checking or savings account. Through the Chase Freedom app, you can easily enter the amount of cash back rewards to use directly at one of 30 merchants, including Target, Starbucks, Old Navy and more. You can also shop with points at Amazon or redeem points for gift cards or travel through Chase Ultimate Rewards, which offers the option to transfer points to a number of travel partners. New applicants may be eligible to earn a $150 bonus after spending $500 on purchases within the first three months of account opening. This card has no annual fee.
Citi® Double Cash
The Citi® Double Cash card can be a great choice for someone who wants cash back rewards without needing to pay attention to changing bonus categories. All purchases earn 1% unlimited cash back with no category restrictions and no enrollment requirements, including gas, groceries, entertainment, travel and more. You can also earn an additional 1% cash back as you pay your statement in full or at least make a minimum payment each month for a total of 2% cash back. If you happen to pay late, Citi® Double Cash offers customers a one-time waiver on their first late payment fee. As soon as the cash rewards balance is at least $25, you may redeem your rewards for a check, a statement credit, a gift card, or for a credit to a linked checking account from which you have paid the credit card bill at least two times.
With the Citi® Double Cash card, customers have access to Private Pass, which offers pre-sale and preferred tickets to concerts, family and comedy shows, and meet and greet events with top chefs and sports stars. You can also enjoy other perks, such as worldwide car rental insurance, damage and theft purchase protection, and trip cancellation and interruption protection. Cardholders may access the Concierge Service for help with making travel arrangements, dinner reservations and more. This card is EMV chip enabled, which allows for greater acceptance and added security during transactions. Citi Double Cash has no annual fee.
Capital One® Quicksilver® Cash Rewards Credit Card
Another cash back credit card without revolving rewards categories is the Capital One® Quicksilver® Cash Rewards Credit Card, which offers unlimited 1.5% cash back on every purchase. Cash back rewards may be redeemed in the form of statement credits or a check, and you can set up for automatic redemption at specified amounts or at specific times throughout the year. There are no limits on the rewards you can earn, and rewards are redeemable as long as your account is open. Furthermore, you can request your cash back rewards at any time for any amount. You can also redeem cash rewards for gift cards or for a charitable donation.
The Quicksilver® card also comes with Visa Signature benefits, which includes complimentary travel upgrades, savings at resorts and hotels, and special access with preferred seating to exclusive sports and music events, as well as shopping discounts at select merchants. You can also access the Concierge Service to help with travel arrangements and other requests, and you will receive auto rental collision insurance coverage and exclusive travel and emergency assistance services. An added perk is that cardholders may access their credit score for free at any time. With no foreign transaction fees, you have the freedom to use this card at no additional cost when you travel outside the United States. Capital One Quicksilver has no annual fees, and new applicants can earn a one-time $100 bonus after spending $500 in the first three months.
BankAmericard Cash Rewards™
The BankAmericard Cash Rewards™ credit card provides flexible cash back rewards, with specific benefits for Bank of America customers. You can earn 3% cash back at gas stations, 2% cash back at grocery stores and wholesale clubs, and 1% cash back on all other purchases. Grocery and gas rewards are available up to $2,500 each quarter, after which you can earn 1% on those purchases until the new quarter begins. There are no revolving categories or limits on the amount of rewards you can earn. Cash rewards can be redeemed in the form of a statement credit, check, or deposit to a Bank of America checking or savings account or to a Merrill Lynch Cash Management Account. Bank of America customers will earn an automatic 10% bonus every time they deposit cash rewards into a Bank of America account, and Bank of America Preferred Rewards customers can increase that bonus to 25-75%. Cash rewards may be requested at any time or scheduled for an automatic redemption, and they do not expire. New applicants may be eligible to receive a $100 bonus cash rewards after spending $500 in the first 90 days of account opening. This card is EMV chip enabled for improved security and acceptance, and cardholders are eligible for Visa Signature benefits, which include travel assistance and insurance, concierge services, and access to premier entertainment, sports, and food experiences. You may also be eligible for shopping and travel discounts and offers. The BankAmericard Cash Rewards™ card has no annual fee.
U.S. Bank Cash+ Visa Signature
The US Bank Cash+ credit card gives you the ability to choose rewards categories depending on your own spending. Cardholders will earn 5% cash back on the first $2,000 each quarter in two of 12 designated categories, including clothing stores, movie theaters, book stores and car rentals. If you are thinking about your end of year charitable donations, and if you choose the charity category, you may even be eligible for 5% cash back on your giving to popular nonprofits, including United Way, Kiva and more. You will earn 2% cash back on your choice of one everyday category of gas stations, grocery stores or restaurants, and 1% cash back on all other purchases. After you reach the category limit, you will earn 1% cash back on those purchases. You must choose categories each quarter, and you can change your preferred category when the new quarter begins. If you do not choose a category, your purchases will still earn 1% cash back. Rewards can be redeemed at any time for any amount for a statement credit or deposit to a checking or savings account. There is no limit to the amount of total cash back you can earn. Additional benefits include the ability to pay bills with the credit card, and as a Visa Signature card, you have access to specific benefits, including concierge service, complimentary travel discounts and upgrades, special shopping offers, and exclusive event admission. This card has no annual fee and is EMV chip embedded for wider acceptance and enhanced security while making purchases.
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