Best Cash Back Credit Cards in 2023
A majority of the top cash back cards come with no annual fees. Several even offer higher cash back rates on category-based spending and additional perks.
The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired.
The best cash back credit cards offer simple, flexible rewards to match your spending habits. Cash back rewards come in the form of something everyone loves — cash. These cards often come with other benefits and redemption options, but their primary purpose is to provide cash back rewards on all of your card purchases.
More about cash back cards
MoneyGeek’s Take: Top 10 Cash Back Credit Cards
The top 10 cash back cards we’ve selected do not charge any annual fees. Some, like the U.S. Bank Altitude® Go Visa Signature® Card and the Chase Freedom Unlimited Card, also come with spend-based welcome bonuses. Depending on the card you choose, you may earn higher-than-usual cash back on bonus categories or a flat cash back rate on all purchases. The best ones also include intro 0% APR offers.
Card Name | Annual Fee | Rewards Rate | Recommended Credit | |
---|---|---|---|---|
1. | $0 | 1–4 Points per $1 | Excellent | |
2. | $0 | 1.5–5% Cash Back | Excellent | |
3. | $0 | 1% – 5% Cash Back | Good–Excellent | |
4. | $0 | 1% – 5% Cash Back | Good–Excellent | |
5. | $0 | 1–5% Cash Back* | Good–Excellent | |
6. | $0 | 3% Cash Back* | Good–Excellent | |
7. | $0 | 1–3% Cash Back* | Good–Excellent | |
8. | Wells Fargo Cash Wise Visa card | $0 | 2% Cash Back | Good–Excellent |
9. | Wells Fargo Active Cash® Card | $0 | 2% Cash Back | Good–Excellent |
10. | $0 | 1.5% Cash Back | Excellent |
Some of the links in the table above will take you to one of our partner's sites where you can compare and apply for a selected credit card.
Best Cash Back Credit Card Offers
Just how much cash back you earn depends on the card you select. For instance, some cards offer higher cash back rates when you spend on purchases in specific categories, such as dining, travel, gas, groceries and drugstores. On the other hand, some of the best cards from this segment offer higher-than-usual flat cash back rates across all categories. The right card for you will depend on your individual spending habits and needs. But this list of the top cards can help you narrow down your choices.
- U.S. Bank Altitude® Go Visa Signature® Card
Solid dining rewards card with no annual fee
- ExcellentRecommended Credit
- $0Annual Fee
- 1–4 Points per $1Rewards Rate
- 4xRewards Rate on Dining
- 2xRewards Rate on Gas
- Citi Custom Cash℠ Card
A great no-annual-fee cash back card with a unique bonus category system
- Good–ExcellentRecommended Credit
- $0Annual Fee
- 1% – 5% Cash BackRewards Rate
- 15 monthsAPR Offer Duration
- 15 monthsBalance Transfer Duration
- Capital One SavorOne Cash Rewards Credit Card
A great no-annual-fee card that comes with rewards
- Good–ExcellentRecommended Credit
- $0Annual Fee
- 3% Cash Back*Rewards Rate
- 3xRewards Rate on Entertainment
- 2xRewards Rate on Groceries
- Blue Cash Everyday® Card from American Express
A simple cash back card that’s best for everyday purchases.
- Good–ExcellentRecommended Credit
- $0Annual Fee
- 1–3% Cash Back*Rewards Rate
- 1xRewards Rate on Gas
- 1xRewards Rate on Groceries
- Wells Fargo Active Cash® Card
A great no-annual-fee cash back card with a 0% APR offer
- Good–ExcellentRecommended Credit
- $0Annual Fee
- 2% Cash BackRewards Rate
- 2xRewards Rate on Gas
- 2xRewards Rate on Groceries
- American Express Cash Magnet® Card
A great no-annual-fee card that comes with unlimited 1.5% cash back across categories
- ExcellentRecommended Credit
- $0Annual Fee
- 1.5% Cash BackRewards Rate
- 1.5xRewards Rate on Gas
- 1.5xRewards Rate on Groceries
The Best Cash Back Credit Cards at a Glance
Other Cards to Consider
MoneyGeek experts collect 57 data points from different sources such as credit card issuer websites, our partners and the Consumer Finance Protection Bureau to ensure that our readers get access to the most up-to-date and accurate information possible. They arrive at the revised list of cash back cards by subjecting all new and existing cards from this segment to our unique ranking methodology that assigns category-specific percentages to different parameters.
- Cash back rate: 11%
- Welcome offer: 7%
- Annual fee: 7%
- Average APR: 5%
How to Compare Cash Back Credit Card Offers
Cash back credit cards are not all created equal, and the right card for someone else may not be the right one for you. Here are some tips to simplify the process and find the best cash back credit card for you.
Know Your Score
Knowing your credit score will help you quickly narrow down the field to only cards you qualify for right now. Having access to credit scores and understanding the factors that make up your score will help you now and in the long run.
Know Your Spending
Having a good sense of where you spend your money will also lead you to the right card. Cash back cards offer several reward structures. Some cards offer flat cash back rewards on all purchases. Other cards offer bonus rewards in select spending categories like travel, dining, groceries and gas. Look for a card with a rewards structure that matches your spending habits.
Factor in Fees
Of course, you can’t forget about fees when calculating potential card earnings. That doesn’t mean cards without annual fees are better. But you should consider how you will use the card and whether the perks and rewards the card offers justify the annual fee.
Look at Other Benefits Included
Once you’ve looked at the cash back rewards, take time to consider other benefits included with the card. Some cards offer extra features like cell phone protection, free credit score access, travel perks and purchase protection.
MoneyGeek’s Take: Finding the Right Cash Back Credit Card for You
A cash back credit card is a valuable tool. You earn back a percentage of your card purchases, typically as a statement credit or direct deposit. Unlike other forms of rewards, what you see is what you get with cash back rewards. For instance, the value of miles earned with an airline rewards credit card can change depending on how they are redeemed, and you often get more value when using them for international travel.
However, there are other rewards credit cards, like Chase Sapphire Reserve Card and Chase Sapphire Preferred Card, that earn valuable rewards that are redeemable several ways, including for cash back and travel.
Not all cash back cards work the same either. Ink Business Cash Credit Card is specifically for business owners, and its reward structure is geared towards the spending needs of a business. Deserve EDU is for college students with little to no credit. Individuals with good to excellent credit can qualify for cash back cards that offer much higher rewards and other benefits.
If you like to travel, one of the top travel rewards credit cards might be a better fit. If you’re planning on making a large purchase in the near future or have existing credit card debt racking up interest charges, a good balance transfer card or rewards card with an intro APR offer might make more sense. Your best bet is to determine your credit card needs and then find the right fit for you.
Who Should Consider a Cash Back Card?
You might be wondering why you should consider getting a cash back credit card. Unlike other rewards credit cards, there’s no guessing when it comes to the card’s value. You’ll earn a percentage back on your card purchases based on the card’s set rewards rates. Your rewards come back to you as cash, usually as a statement credit or a deposit to your bank account. Some cards reward you the same no matter the purchase, while others offer higher rewards rates in specific categories.
That doesn’t mean everyone should get a cash back card. For example, if you’re an avid traveler, you might find more value in a travel rewards credit card that comes with a large sign-up bonus, earns points or miles towards free travel and comes with extra perks like hotel status, waived airline fees and more.
Expert Advice for First-Time or Newer Cash Back Cardholders
We continue to help your research, by gathering advice from financial, credit counselors and other credit card experts and answering common questions related to cash back cards and reward programs.
- What mistakes do people make with credit cards, and specifically rewards programs?
- What are the "gotchas" about credit cards and rewards programs that are not well understood by consumers?
- What advice can you give consumers about managing their cash back rewards cards?
Top Cash Back Cards FAQs Answered by The Geeks
Cash back credit cards come in many different forms, and having the answers to some of the most frequently asked questions about cash back cards and rewards will help you find the best card for you.
Tips for People Looking to Maximize Credit or Cash Back Deals
Perhaps you already have experience using a cash back or other rewards credit card under your belt. Like anything in life, there are always new things to learn when it comes to cash back rewards.
Maximizing Your Cash Back Rewards
To maximize cash back rewards, you’ll want to be in tune with your spending habits. Do a deep dive into your past spending to see where you spend money the most. Then, align your cash back cards with your spending so that you earn the best rates.
Having more than one credit card can also help you take advantage of increased rewards rates from both cards. If you have a card that offers a higher cash back rate for grocery purchases but only 1% cash back for other purchases, you can pair it with a flat-rate cash back card that earns more than 1% to earn more cash back.
Comparing Cash Back Rates to Find the Right Card
It’s also wise to check your card’s cash back rates so that you’re aware of any restrictions or limitations. Some cash back cards, like Chase Freedom Flex℠, offer rotating bonus categories that you have to activate each quarter. Keeping track of details like that every few months is often hard to do.
Some cash back credit cards have maximum spending limits. The Ink Business Cash Credit Card, for example, caps several spending categories at the first $25,000 spent each year. Personal cash back cards will have lower annual limits. You can maximize your cash back rewards by at least hitting spending limits or finding a cash back card without any limitations, depending on your needs.
Comparing Cash Back to Points and Miles Deals
Typically, rewards points and miles carry more value than cash rewards. They are also often more complicated to understand, earn and use than cash back rewards.
The real value is in understanding your own credit card needs. Rewards credit cards that earn points and miles make sense if you travel often. If you only travel a couple of times a year, your rewards could go to waste and possibly expire. A card like Chase Sapphire Preferred Card offers more flexibility with redemptions, even as a card that earns points. You can use Chase Ultimate Rewards points towards flights, hotels, gift cards, and yes — cash. Knowing how you want to use your rewards will lead you towards the right type of rewards credit card.
FAQs About Getting the Most Out of Your Cash Back Card
Below are answers to common questions on how to maximize cash back credit cards.
Cash back credit cards reward you for your everyday spending, unlike using a debit card. Always use cash back cards responsibly, making sure not to spend more than you can afford to pay. Interest charges cause your account balance to skyrocket and quickly negate the rewards you earned.
If you prefer earning cash to travel rewards, take time to compare the best cash back credit cards to find the right one for you.
Next Steps
Now that you are armed with information about the best cash back credit cards, determine if you might benefit by getting one or more cash back cards to capitalize on your spending. When looking for a new card, pay due attention to aspects such as annual fees, cash back rates, welcome bonuses, intro APR offers and added benefits.
Compare Credit Cards
American Express Cash Magnet® Card
Wells Fargo Active Cash® Card
Credit One Bank® Platinum Visa®
U.S. Bank Altitude® Go Visa Signature® Card
Capital One SavorOne Cash Rewards Credit Card
Chase Freedom Flex℠
Credit One Bank® NASCAR® American Express® Credit Card
Chase Freedom Unlimited®
Capital One QuicksilverOne Cash Rewards Credit Card
Credit One Bank® Platinum X5 Visa®
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sources
- Intuit TurboTax. "Are Cash Back Rewards Taxable Income?." Accessed March 18, 2021.
- Better Money Habits. "What is a credit card cash advance?." Accessed March 18, 2021.
- Chase. "Ink Business Cash® Credit Card." Accessed March 18, 2021.
- Chase. "Chase Freedom Flex℠ Credit Card." Accessed March 18, 2021.
- Chase. "Chase Ultimate Rewards." Accessed March 18, 2021.
- Chase. "Chase Sapphire Preferred Card credit card." Accessed March 18, 2021.
- Chase. "Chase Sapphire Reserve Card." Accessed March 18, 2021.
- Deserve. "Deserve EDU." Accessed March 18, 2021.
- Deserve. "Deserve® EDU Cardholder Agreement." Accessed March 18, 2021.
- Credit One Bank. "Platinum Visa." Accessed March 18, 2021.
- Credit One Bank. "Choosing a Credit Card." Accessed March 18, 2021.
- American Express. "Blue Cash Preferred Card." Accessed March 18, 2021.
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