Let us begin with a simple question: what really does cash back credit cards do? As the name suggests, they all provide cash back on your spending using those cards. Good news, however, is that you get tons of other benefits as well. But, a word of caution for you! Even though these cards provide cash rebates or point rewards, they are still a line of credit. You need to be wise when you use them or else, you may end up in a debt trap. Now that we have cautioned you, let us quickly move onto the list of best cash back credit cards you can avail right now.
List of Best Cash Back Credit Cards
What We'll Cover
Cash Wise Visa® Card by Wells Fargo
This particular Visa credit card from Wells Fargo offers the following benefits:
- If you manage to spend $1,000 within the first three months of receiving the card, you will get a cash back of $200.
- You will also qualify for 1.5% cash back for all purchases. There is no cap on the spending limit.
- If you are using the card to purchase through mobile wallets, you will get 1.8% cash back on all purchase. However, there are two conditions. They are:
- This particular cash back offer will remain applicable only for 12 months from the date of opening your credit card account.
- This 1.8% cash back can be availed only and only if you make purchases through qualified mobile wallets like Google Pay or Apple Pay.
- The card does not come with any category restriction.
- Cash rewards that you earn or sign up rewards that you enjoy will remain lifelong, that is, till your credit card account remains open.
- The card does not have an annual fee.
- If you pay your monthly bills for your cell phone using the Chase Wise Visa® Card, you become entitled to up to $600 protection for your cellular device. This protection is against theft or covered damage.
Apart from the benefits above, you also need to know the following:
| Introductory APR | 0% for balance transfer and purchases but applicable only for 12 months. |
| Regular variable APR | 15.99% to 26.99% depending on your creditworthiness. |
| Credit score recommended | 690 (good) to 850 (excellent). |
Capital One® Quicksilver® Card
As the name suggests, this credit card is offered by Capital One. It too comes with tons of benefits that you simply cannot ignore. Let us find out about the features and benefits of the card:
- If you happen to spend $500 using the credit card within the first 3 months from the date of opening your credit card account, you become eligible for a cash back of $150.
- You also become eligible for 1.5% cash back reward on every purchase you make every day.
- The cash back rewards you earn will never expire. They will expire only and only when your account is closed.
- You do not need any additional sign-ups or rotating categories for earning cash rewards.
- If you use the card for transacting in foreign countries, there will be no charges.
- The card has no annual fee.
Apart from the aforementioned benefits, you also need to know the following:
| Introductory APR | 0% for balance transfer and purchases but applicable only for 15 months. The institute will charge 3% fee on balance transfer. |
| Regular variable APR | 14.74% to 24.74% depending on your creditworthiness. |
| Credit score recommended | 690 (good) to 850 (excellent). |
Discover it® Cash Back
Another one of the most amazing cash back credit cards on market is the Discover it® Cash Back. Some of the most fascinating features that this card has to offer include:
- 5% cash back on quarterly spending categories such as restaurants, grocery stores, gas stations etc. with a maximum spending cap for each quarter.
- For every other purchase, the card offers 1% cash back. There is no limit on spending.
- At the end of the first year, Discover will, with a guarantee, match all the cash backs you earn throughout the year.
- Rewards that you earn will never expire. They will stay for as long as your account remains active. You can redeem your rewards anytime you want. You can redeem partially.
- You can even redeem your rewards while checking out from Amazon.com.
- You will also get social security alerts for free. The company will monitor risky websites whenever you sign up on those websites.
- The card has no annual fee.
Apart from these benefits, you must also know the following:
| Introductory APR | 0% for balance transfer and purchases but applicable only for 14 months. |
| Regular variable APR | 13.99% to 24.99% depending on your creditworthiness. |
| Credit score recommended | 690 (good) to 850 (excellent). |
U.S. Bank Cash+TM Visa Signature® Card
The U.S. Bank Cash+TM Visa Signature® Card is yet another cash back credit card that comes with great benefits that you cannot ignore. Let us learn about the features that this credit card has to offer:
- As a new card owner, you become eligible for $150 cash back once you spend $500 in the first 90 days of getting your card.
- For quarterly spending categories, you can choose up to two categories on which, a combined quarterly spending of $2,000 will make you eligible for 5% cash back.
- You can get 2% cash back every day on a single category of your choosing such as grocery, gas stations etc.
- For all other purchases, you get 1% cash back.
- The amount of cash back you can earn is not at all limited. This means that the more you spend, the more cash back you earn.
- The card does not have an annual fee attached to it.
Apart from the above-mentioned benefits, you must know the following features of the card as well:
| Introductory APR | 0% for balance transfer and purchases but applicable only for 12 months. |
| Regular variable APR | 15.99% to 24.99% depending on your creditworthiness. |
| Credit score recommended | 720 to 850 (excellent). |
Conclusion
There is no scarcity of cash back credit cards in the market. Almost every financial institution that offers credit cards has at least one cash back card that you can select. For example, Citi, American Express, HSBC – everyone has their own cash back cards that offer more or less similar benefits as you have read for the cards mentioned above in this article. Our suggestion is that you do a comparative study of the features of these cards (especially the APR) before you narrow down on a particular card.
The responses below are not provided, commissioned, reviewed, approved, or otherwise endorsed by any financial entity or advertiser. It is not the advertiser’s responsibility to ensure all posts and/or questions are answered.
