Cash Back Credit Cards are my favorite type of rewards card because it’s like free money! Card issuers are paying you a percentage of what you charge to the account just so you will use their card. These cards can save you money and that’s why I think they are the best type of rewards card. Many credit card issuers have beefed up their cash back programs by offering juicy sign up bonuses. You can earn a couple hundred bucks just by choosing the right card!
The best cash back credit card deals will save you money! It sounds simple enough and it is simple, if you know what to look for in a cash back card. You want to choose a card that is going to allow you to get the full amount of cash back the card has to offer. Your goal should be to earn as much as possible with any given card. Because some cards pay higher rewards for certain types of purchases (e.g., gas or groceries), be sure the card you choose rewards you for the types of purchases you plan on making.
To get you started we have provided you with a list of the Best Cash Back Cards of 2012.
EDITOR’S CHOICE – Chase Freedom® Visa – $100 Bonus Cash Back Offer
The Chase Freedom® Visa is our favorite cash back offer because you can earn $100 cash back just for spending $500 within the first 3 months. This card gives you the opportunity to earn up to 10% cash back when you shop at the Chase online mall. You will also earn 5% cash back for every dollar you spend in rotating categories and 1% cash back on all your other purchases. The rate you receive will be between 12.99-22.99% (Variable)*, based on your creditworthiness.
See our Chase Freedom® Visa – $100 Bonus Cash Back review for more card details.
We can’t talk about the best cash back offers without talking about the Blue Cash PreferredSM Card from American Express. This card makes the list because it gives a whopping 6% back on supermarket purchases. This means even if you just spend $25 bucks a week, you will end up earning $75 back at the end of the year. The card also gives 3% at gas stations and department stores. To make this offer even more enticing, it gives 0% for 12 months on purchases* with a regular rate of 17.24-22.24% (Variable)*. On top of all of this, it has a nice bonus offer and a low annual fee of just $75.
See our Blue Cash Preferred(SM) Card from American Express review for more card details.
Discover® More® Card
The Discover® More® Card is a rewards card that offers cash back on all your purchases. You can earn up to 5% cash back in rotating categories. You can earn 5% Cashback bonus on shopping categories as well as 5% Cashback bonus on seasonal spending categories that change each yearly quarter. You can earn up to 1% Cashback bonus on all other purchases. You must enroll in each spending category to be eligible. The card offers an introductory rate of 0% for 15 months on purchases*. After the introductory rate, the APR you receive is 10.99-20.99% (Variable)*, based on your creditworthiness. Best of all this card has no annual fee.
See our full review of the Discover® More® Card for more details.
Citi® Dividend World MasterCard®
The Citi® Dividend Platinum Select® Visa® Card gives $100 cash back after spending $500 within the first 3 months. You can earn 1% cash back on all purchases and 5% cash back on rotating categories. There are no tiers or minimum spending amounts in order to earn the 1% cash back. The Citi® Dividend World MasterCard® comes with 0% introductory APR on balance transfers for 15 months and 0% introductory APR on purchases for 15 months. After the introductory rate, the APR will be between 12.99-22.99% (Variable)* and is based on your creditworthiness.
See our Citi® Dividend World MasterCard® review for more card details.
PenFed VISA Platinum Gas / Cash Rewards Card
The PenFed VISA Platinum Gas / Cash Rewards Card is on of our top picks because it gives 5% cash back on gas purchases, 2% back on grocery store purchases and 1% on all other purchases. That’s a nice rewards package! There are no restrictions on the cash you earn and you get rewarded for what you have earned each month. There is a low balance transfer introductory rate of 2.99% for the first 12 months and the balance transfer fee is 3%. There is no annual fee and this card does not charge a foreign transaction fee when making purchases overseas. To qualify for this card you must have excellent credit and be a member of the Pentagon Federal Credit Union.
See our PenFed VISA Platinum Gas / Cash Rewards Card review for more details.
Chase Freedom® MasterCard – $100 Bonus Cash Back
The Chase Freedom® MasterCard card combines a solid rewards program with a 0% introductory offer. You can’t go wrong with any of the Chase Freedom® cards because you earn 5% cash back offers in popular categories like gas, home improvement and department stores. On top of that, earn a full 1% cash back on everything else – no spending tiers or caps on how much you can earn. As a bonus, you will earn $100 cash back after you make $500 in purchases within the first 3 months. The card offers a 0% introductory rate which is as follows, 15 months on purchases*. After the introductory period is over your rate will be between 12.99-22.99% (Variable)*, based on your creditworthiness.
See our Chase Freedom® MasterCard – $100 Bonus Cash Back review for more details.
TrueEarnings® Card from Costco and American Express
The TrueEarnings® Card from Costco and American Express is another great cash back rewards card that allows you to earn wherever you shop, including Costco. The TrueEarnings Card pays 3% cash back on up to $3,000 in gasoline purchases (1% thereafter). With the Costco card, cardmembers also earn 3% cash back at restaurants, 2% cash back for travel, and 1% cash rewards everywhere else. The card offers 0% on all purchases for the first 6 months and this is a credit card, not a charge card. That means you have the flexibility to pay the card off in full each month or make payments over time. After the introductory rate, your APR will be based on your creditworthiness.
See our TrueEarnings® Card from Costco and American Express review for more details.
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