After 18 hours of research evaluating 75 products, we picked Chase Freedom Unlimited Card as the Best Overall Cash Back Credit Card.
Cash back credit cards typically offer a set percentage rate (usually 1%) to be rebated back to you when you pay your bill. These credit cards are more popular than gas credit cards or travel rewards cards, because some banks allow you to earn actual cash and not just rewards points.
Here's the deal:
Not all cash back cards are created equally. Some offer higher cash back rewards on certain spending categories. Others offer different kinds of rewards, and different ways to redeem cash back. The good news? The power of choice is in your hands when picking your perfect cash back credit card!
Cash back credit cards might be your perfect fit if you spend a lot of money on everyday purchases like:
- Home improvement
As such, it's hard not to imagine an individual who couldn't benefit from a cash back credit card. Unless you live under a rock (or live a severely minimalistic life), each of these options will help you to end the month with a lower credit card bill. Even if you don't spend a lot in a specific category, most of these options offer at least 1% in cash back on all purchases. The idea behind using any of the best cash back credit cards is that you're making money on the money you spend, automatically. Who wouldn't get behind that?
Of course, with great power comes great responsibility. Follow general credit card best practices, and don't spend money you don't have in order to make money. The variable APR rates on these cards will definitely cost you more than what you'll earn if you can't pay off your bill each month! Most cash back cards require a good credit score, but we've reviewed one that would be perfect if you're just getting started with building credit, or if you have an average credit score.
What's the bottom line?
Coming in at number one on our list of the best cash back credit cards is the Chase Freedom Unlimited Card (Money Crashers came to the same conclusion), which offers an excellent cash back rate (1.5%), no annual fee, and an easily attainable signup bonus. We've also compiled a list of 5 additional options, with specific information regarding everything you need to know about the application process, annual fee (if applicable), APR, rewards, and signup bonus offers.
Before considering a new credit card, read our article about how many credit cards you should have (hint: it all depends on you). But if you're ready to diversify the cards in your wallet, there's really something on this list for everyone.
Ready to go? Let's find your next credit card.