Best Cash Back Card for Average Credit
Why People Love it
- Uncomplicated 1.5% cash back, no messing around with categories, and no spending limits on earning cash back.
- Build credit quickly with access to a higher credit limit just for paying your bills on time.
- Available to people with an average credit score - you can earn cash back while building credit!
Application Process: Online. In most cases, you'll get a decision within 60 seconds or less.
Annual Fee: $39. Additionally, the cash advance fee is $10, or 3% of the cash advance amount (whichever is higher).
APR: 0% for the first 9 months (not very long compared to some of the other options on this list), and then 24.99% variable APR.
Rewards: You have options, as rewards are redeemable as a statement credit, bank account deposit, or gift card. You can set up redemptions automatically at predetermined thresholds ($25, $50, $100 or $200), and can claim your cash back according to the above-mentioned method of your choosing.
Bonus Offers: Not quite as lucrative as some of the others on this list, but get 50% back on Spotify Premium when you apply, through April 2018.
Bad credit or limited experience with credit cards? The CapitalOne QuicksilverOne Cash Rewards credit card was created with you in mind. It's available to those with an average credit score, and is straightforward in terms of the 1.5% cash back you can earn (with no spending limits!). When you pay the first 5 monthly payments on time, you gain access to a higher credit line. What an easy way to build credit! Magnify Money recommends it based on the uncomplicated nature of their cash back program.
The largest drawback of the CapitalOne QuicksilverOne Cash Rewards Credit Card is the relatively high APR, a 24.99% variable rate. If you get this card, make sure to pay your bills on time! There's also an annual fee of $39, though that's relatively low as far as annual fees go.
- Rated #3 in 6 Best Cash Back Credit Cards