Cash back, in simplest terms, is a credit bank benefit that gives the cardholder a percentage of the total purchases they make. It is also described as a bit card transaction where the cardholder receives cash after making a purchase. Furthermore, you may consider it a rebate or discount on every purchase.
Chase Freedom Flex
The Chase Freedom Flex is the only card that offers up to 5% cash back on all purchases. The cardholder can make a maximum of $500 cash back per year in this product. If the total of your purchases is $500, you will receive $25 in cash back. In addition, it has a $200 welcome bonus and a zero annual fee.
Citi Double Cash Card
The Citi Double Cash Card has the overall cash back on credit cards. This product offers twice as much as Chase Freedom Flex, and it also gives you 1% cash back when you buy things with a debit card and another 1% when you pay off your purchase with a credit card.
According to experts at SoFi, to get 3% credit card cash back, your purchases should be at least $1,500 per year and $25 in monthly payments. If you plan to use it for a long time, it is highly recommended that you look at other products because this rate decreases over time.
Amex Blue Cash Everyday
Amex Blue Cash Everyday is an excellent choice for anyone who wants to save money using their credit cards instead of checks. The Amex Blue Cash Everyday gives 7% rewards on all purchases and doubles your points when shopping at stores like Amazon, Macy’s, Walmart and Target. In addition, shopping at department stores like Sears or Kohl’s will earn you double points because these retailers participate in their merchant rewards program.
Navy Federal More Rewards American Express Card
The Navy Federal More Rewards American Express Card offers no annual fees for military members. It offers no foreign transaction fees and generous rewards on average spending categories. Furthermore, it offers no cash advance fees, and the APR is 14.99%.
Discover It Card
Discover It has no annual fees and offers a sign-up bonus of $150 when you spend $1,000 in the first three months. There is also no foreign transaction fee. This card also rewards spending on all eligible purchases, including cash back and gift cards. Discover It Cash Back offers the best welcome bonus for big spenders and zero annual fees.
Discover It allows users to activate a 5% rotating category and receive rewards well beyond the typical 1% earning rate. The cardholder earns cash back bonuses of up to 1% on all other eligible purchases. Discover offers the best return on the least spending, averaging 1.39%.
Gold Delta SkyMiles Credit Card
Gold Delta SkyMiles offers a sign-up bonus of 50,000 miles. Additionally, you can earn $50 in statement credits when you spend $1,000 within the first three months of opening your account. There are no annual fees and no foreign transaction fees. The APR is 15.24% for purchases and 18.24% for cash advances.
The Gold Delta SkyMiles from American Express is a great sign-up bonus in addition to their generous introductory APR offer for new cardholders. This card has excellent travel perks such as baggage delay insurance and travel accident insurance coverage with preferred airlines, including United Airlines, JetBlue Airways, Southwest Airlines and American Airlines.
As discussed above, the amount of cash back differs between products and the kind of card. Experts recommend that you use the shopping portal, combine cards, and earn back the annual fee to make the most of your cash back.