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Best Cashback Credit Cards of 2020

Take advantage of flexible rewards with a card that fits the way you live.

Updated . What changed?

Fact checked

Our pick for a cashback credit card: Blue Cash Everyday® Card from American Express

Blue Cash Everyday® Card from American Express logo

Up to 3%

Cash back

  • 3% back at US supermarkets on up to $6,000 each year, then 1%
  • Enjoy cash back on gas and at select department stores
  • No annual fee
Apply now
See rates & fees

Cashback credit cards help you earn money back on your spending at flat rates, in bonus categories or across specific types of purchases. They come with fewer redemption rules than cards involving points or miles — with many allowing rewards deposits to an account. Learn what to look for when narrowing down the best for you, including expert tips to leveraging your benefits and answers to five questions you're bound to have about these flexible rewards cards.

Best cashback credit cards

Quick look: Best cashback credit cards

Best no-annual-fee cashback card for moderate spending on groceries
Blue Cash Everyday® Card from American Express

Blue Cash Everyday® Card from American Express logo
Finder Rating: 4.2 / 5

★★★★★

Credit recommended (670-850)
Apply now
on American Express's secure site
Rates & fees

670
Min. credit score
$0
Annual fee
Up to 3%
Cash back
$200
Welcome offer
The Blue Cash Everyday® Card from American Express offers great cash back at US supermarkets, as well as solid cash back at US gas stations.
  • Intro APR period on purchases. You'll get a 0% intro APR period on purchases for 15 months after account opening. After that, your rate reverts to 13.99% to 23.99% variable.
  • Earn cash back. Earn 3% cash back at US supermarkets on up to $6,000 per year, then 1% after that. You'll also earn 2% cash back at US gas stations and department stores, and 1% cash back on everything else you buy.
  • Welcome offer. Get $200 bonus after you spend $1,000 on purchases in the first 3 months following your account opening.
Annual Fee $0
Purchase APR 0% intro for the first 15 months (then 13.99% to 23.99% variable)
Balance transfer APR N/A
Welcome offer $200 after spending $1,000 in the first 3 months
Rewards 2% at US gas stations and select US department stores, 3% at US supermarkets on up to $6,000 per year, then 1% after that and on all other purchases

Best 5% cashback card
Chase Freedom Flex℠

Chase Freedom Flex℠ logo
Finder Rating: 4.7 / 5

★★★★★

Credit recommended (670-850)
Apply now
on Chase's secure site
Rates & fees

670
Min. credit score
$0
Annual fee
Up to 5%
Cash back
$200
Welcome offer
The Freedom Flex lets you earn 5% cash on a variety of categories, including travel, groceries, Lyft rides and more. Plus there's cash back on rotating categories each quarter and a solid signup bonus.
  • Cash back. Earn 5% back on travel purchased via the Chase Ultimate Rewards, 5% back on Lyft rides through March 2022 and 5% back on rotating categories on up to $1,500 each quarter. After reaching the cap, you earn 1% back. Purchases made at drugstores and restaurants, including delivery and takeout earn 3% back. Everything else earns 1% back.
  • Signup bonus. Earn $200 cash bonus after you spend $500 in the first 3 months when you open your account. Also, earn 5% back at grocery stores on up to $12,000 in the first year.
  • Intro APR period. Get 15 months of 0% intro APR period on purchases. A variable APR of 14.99% to 23.74% applies thereafter.
  • Foreign transaction fees. Every purchase made abroad or online with foreign merchants will cost you 3% of the amount.
Annual Fee $0
Purchase APR 0% intro for the first 15 months (then 14.99% to 23.74% variable)
Balance transfer APR 14.99% to 23.74% variable
Welcome offer $200 after spending $500 in the first 3 months, plus 5% cash back at grocery stores on up to $12,000 in the first year
Rewards 5% back in rotating categories up to $1,500 combined each activated quarter (then 1%), 5% on travel purchased through Chase, 3% on dining and drugstores, and 1% on all other purchases

Best for pairing with Chase cards
Chase Freedom Unlimited®

Chase Freedom Unlimited® logo
Finder Rating: 4.7 / 5

★★★★★

Credit recommended (670-850)
Apply now
on Chase's secure site
Rates & fees

670
Min. credit score
$0
Annual fee
Up to 5%
Cash back
$200
Welcome offer
If you're looking for a way to power your Chase Preferred or Reserve, the Chase Freedom Unlimited®'s impressive base cashback rate makes it a crucial part of the Chase Trifecta.
  • Earn 5% cash back on travel through Chase Ultimate Rewards and on Lyft through March 2022, 3% back at restaurants and drugstores and 1.5% back on all other purchases.
  • Get a welcome offer of $200 after you spend $500 within your first 3 months of account opening. You'll also earn 5% cash back at grocery stores on up to $12,000 in your first year.
  • Don't pay an annual fee.
  • You'll need a Chase Sapphire card to transfer points.
Annual Fee $0
Purchase APR 0% intro for the first 15 months (then 14.99% to 23.74% variable)
Balance transfer APR 14.99% to 23.74% variable
Welcome offer $200 after spending $500 in the first 3 months, plus 5% cash back at grocery stores on up to $12,000 in the first year
Rewards 5% cash back on travel purchased through Chase, 5% on Lyft, 3% on dining and drugstores and 1.5% on all other purchases

Best cashback card for unlimited cash back and ongoing rewards after a balance transfer
Citi® Double Cash Card

Citi® Double Cash Card logo
Finder Rating: 3.8 / 5

★★★★★

Credit recommended (740-850)
Apply now
on Citi's secure site
740
Min. credit score
$0
Annual fee
Up to 2%
Cash back
n/a
Welcome offer
Essentially earning a flat 2% cash back (1% when you buy, plus 1% when you pay for your purchases), the Citi® Double Cash Card is the card to beat when it comes to flat rate cashback cards.
  • Earn cash back. Earn cash back twice on everything you buy — 1% when you make the purchase and 1% when you pay your balance. Similar cards let you earn 1.5% back. That's up to a $100 difference if you spend $20,000 a year with your card.
  • Intro APR on balance transfers. Enjoy 18 months of a 0% intro APR period for balance transfers. Compared to similar cards, this is one of the longest intro periods you can get. After that, a variable APR of 13.99% to 23.99% applies.
  • Citi Entertainment℠. Get special access when buying presale tickets or VIP packages for concerts, sports events, dining and more.
  • Foreign transaction fee. All purchases made abroad or online with foreign merchants cost 3% of the amount.
Annual Fee $0
Purchase APR 13.99% to 23.99% variable
Balance transfer APR 0% intro for the first 18 months (then 13.99% to 23.99% variable)
Welcome offer N/A
Rewards Up to 2% cash back on purchases (1% when you buy plus 1% as you pay)

Best for gas
Costco Anywhere Visa® Card by Citi

Costco Anywhere Visa® Card by Citi logo
Finder Rating: 3.6 / 5

★★★★★

Credit recommended (740-850)
Apply now
on Citi's secure site
740
Min. credit score
$0
Annual fee
Up to 4%
Cash back
n/a
Welcome offer
The Costco Anywhere Visa® Card by Citi not only earns big on gas, but has great cash back potential in other categories as well. Plus, you'll pay no annual fee provided you're a Costco member.
  • You won't pay an annual fee to own the card.
  • Earn 4% cash back on gas for the first $7,000 spent annually, 1% after that.
  • Earn 3% cash back on restaurants and travel, 2% cash back on purchases from Costco and Costco.com.
  • Earn 1% cash back on everything else.
  • Use your Costco credit card to enter Costco.
  • You need to have Costco membership to apply for the card.
  • You can only redeem your Costco rewards once a year.
Annual Fee $0
Purchase APR 15.24% variable
Balance transfer APR 15.24% variable
Welcome offer N/A
Rewards 4% at gas stations on up to $7,000 annually (then 1%), 3% at restaurants and on travel, 2% at Costco and 1% on all other purchases

Best for new to credit
Petal 2 “Cash Back, No Fees” Visa® Credit Card

Petal 2 “Cash Back, No Fees” Visa® Credit Card logo
Finder Rating: 2.9 / 5

★★★★★

Credit recommended (600-850)
Apply now
on WebBank's secure site
Rates & fees

600
Min. credit score
$0
Annual fee
Up to 10%
Cash back
n/a
Welcome offer
Petal's unique approach of no fees and not requiring existing credit makes it a terrific choice for credit card newbies. Plus, Petal recently added rewards to the card, sweetening the card's appeal.
  • No credit history required. To be approved for most rewards credit cards, you need a good or excellent credit score. Petal, on the other hand, analyzes your income and financial records, including your checking accounts and bill payments to determine your eligibility.
  • Cash back. Earn 1% cash back on all eligible purchases. Make six on-time monthly payments and your rewards rate goes up to 1.25%. After 12 on-time monthly payments, your cash back rate will increase again to 1.5%. As of December 2019, Petal awards you with up to 10% cash back at select merchants.
  • No fees. You won't pay an annual fee for the card, no foreign transaction fees when using the card abroad or overlimit and late payment fees.
  • No signup bonus. Most similar cards come with a signup bonus in one form or another. Unfortunately, you won't get anything extra with the Petal 2 “Cash Back, No Fees” Visa® Credit Card.
Annual Fee $0
Purchase APR 12.99% to 26.99% variable
Balance transfer APR N/A
Welcome offer N/A
Rewards Up to 10% cash back from select merchants, on other purchases earn 1% back, 1.25% after six on-time payments and 1.5% after 12 on-time payments

Best cashback card for groceries
Blue Cash Preferred® Card from American Express

Blue Cash Preferred® Card from American Express logo
Finder Rating: 4.3 / 5

★★★★★

Credit recommended (670-850)
Apply now
on American Express's secure site
Rates & fees

670
Min. credit score
$95 ongoing
Annual fee
Up to 6%
Cash back
$300
Welcome offer
Put simply, the Blue Cash Preferred® Card from American Express offers one of the highest cash back rates on groceries on the market. Along with its other cashback categories, this is an excellent family card.
  • Earn cash back. Earn 6% cash back at US supermarkets on up to $6,000 per year. After that, you'll earn 1% back. You'll also earn 6% on select US streaming services and 3% on transit purchases. At US gas stations you'll earn 3% back. For everything else you buy, you'll get 1% back.
  • Welcome offer. Get $300 in statement credit after spending $3,000 on purchases in the first 6 months of card membership. This offer expires December 10, 2020.
  • Intro APR period. Enjoy a 0% intro APR period on purchases for the first 12 months of account opening. After that, a variable APR of 13.99% to 23.99% applies.
  • Annual fee. You'll pay $95 starting the second year to enjoy the card and its perks. But this intro annual fee offer expires December 10, 2020.
Annual Fee $0 intro annual fee for the first year ($95 thereafter)
Purchase APR 0% intro for the first 12 months (then 13.99% to 23.99% variable)
Balance transfer APR N/A
Welcome offer $300 after spending $3,000 in the first 6 months (Offer expires 12/10/2020)
Rewards 6% on select US streaming services, 3% on transit and US gas stations, 6% at US supermarkets on up to $6,000 annually, then 1% after that and on all other purchases

Best cashback card for rotating categories
U.S. Bank Cash+™ Visa Signature® Card

U.S. Bank Cash+™ Visa Signature® Card logo
Finder Rating: 4.4 / 5

★★★★★

Credit recommended (670-850)
Read review
Rates & fees

670
Min. credit score
$0
Annual fee
Up to 5%
Cash back
$200
Welcome offer
With the ability to choose two categories to earn 5% cash back, this card offers strong earning potential if you use it well.
  • Earn cash back. Earn 5% cash back on two categories of your choosing on up to $2,000 in combined purchases each quarter you activate, then 1%. You'll also earn unlimited 2% back on one everyday category of your choosing, like gas or groceries. For all other purchases, you'll get 1% back.
  • Signup bonus. Score a $200 bonus after spending $500 on purchases in the first 90 days of card membership.
  • Intro APR period on balance transfers. Enjoy a 0% intro APR period on balance transfers for the first 12 billing cycles following your account opening. A variable APR of 13.99% to 23.99% applies thereafter.
  • You must keep enrolling in cash back categories. Each quarter, you must log in to your online account and register the categories you want to earn 5% and 2% cash back. Enrollment starts 45 days before the beginning of or during each quarter. If you don't, you'll earn 1% back on these categories.
Annual Fee $0
Purchase APR 13.99% to 23.99% variable
Balance transfer APR 0% intro for the first 12 billing cycles (then 13.99% to 23.99% variable)
Welcome offer $200 after spending $500 in the first 90 days
Rewards 5% on up to $2,000 each activated quarter on two categories combined (1% after), 2% on one everyday category and 1% on all other purchases

Best cashback card for dining and entertainment
Capital One® SavorOne® Cash Rewards Credit Card

Capital One® SavorOne® Cash Rewards Credit Card logo
Finder Rating: 4.3 / 5

★★★★★

Credit recommended (670-850)
Read review
Rates & fees

670
Min. credit score
$0
Annual fee
Up to 5%
Cash back
$200
Welcome offer
Like the name suggests, the Capital One® SavorOne® Cash Rewards Credit Card offers strong cash back on dining and entertainment. This rate is bolstered by a solid welcome offer and no foreign transaction fees.
  • Cash back. Earn 3% back on dining and entertainment, and 2% back at grocery stores. Purchases made on sporting tickets at Vivid Seats earn % cash back. All other purchases earn 1% cash back.
  • Signup bonus. Earn $200 bonus cash once you spend $500 in your first 3 months when you opened your account.
  • High minimum credit line. Your credit line depends on multiple factors, but with this card you won't get a lower credit line than $1,000.
  • Annual fee. For the first year, you won't pay an annual fee. But starting from the second year, expect to pay $0 annually to own the card.
Annual Fee $0
Purchase APR 0% intro for the first 15 months (then 15.49% or 25.49% variable)
Balance transfer APR 15.49% or 25.49% variable
Welcome offer $200 after spending $500 in the first 3 months
Rewards 5% cash back on Uber Eats, 3% on dining and entertainment, 2% at grocery stores and 1% on all other purchases

Best for Cashback Match after first year
Discover it® Cash Back

Discover it® Cash Back logo
Finder Rating: 4.8 / 5

★★★★★

Credit recommended (670-850)
Read review
670
Min. credit score
$0
Annual fee
Up to 5%
Cash back
Other
Welcome offer
Discover offers a unique opportunity for cash back in that they'll match your cash back earnings after your first year. Used well, this can equal or exceed similar signup bonuses on the market.
  • No annual fee
  • Excellent rewards in rotating categories
  • Solid intro APR on purchases and balance transfers
  • Cashback Match on all rewards earned during the first card year
  • Bonus categories change every quarter
  • Some merchants don't accept Discover — especially abroad
Annual Fee $0
Purchase APR 0% intro for the first 14 months (then 11.99% to 22.99% variable)
Balance transfer APR 0% intro for the first 14 months (then 11.99% to 22.99% variable)
Welcome offer Discover will match cash back earned at the end of your first card year
Rewards 5% back in rotating categories up to $1,500 combined each activated quarter, then 1% after that and on all other purchases

Best for welcome offer
Capital One® Savor® Cash Rewards Credit Card

Capital One® Savor® Cash Rewards Credit Card logo
Finder Rating: 4.4 / 5

★★★★★

Credit recommended (670-850)
Read review
Rates & fees

670
Min. credit score
$95 ongoing
Annual fee
Up to 8%
Cash back
$300
Welcome offer
While this card offers great cash back on food and entertainment, it also sports a top of the line signup bonus to boot.
  • Cash back. Earn 4% back on dining and entertainment, and 2% back at grocery stores. Purchases made on sporting tickets at Vivid Seats earn 8% cash back. All other purchases earn 1% cash back.
  • Signup bonus. Earn $300 bonus cash once you spend $3,000 in your first 3 months when you opened your account.
  • High minimum credit line. Your credit line depends on multiple factors, but with this card you won't get a lower credit line than $5,000.
  • Annual fee. For the first year, you won't pay an annual fee. But starting from the second year, expect to pay $95 annually to own the card.
Annual Fee $0 intro annual fee for the first year ($95 thereafter)
Purchase APR 15.99% or 24.99% variable
Balance transfer APR 15.99% or 24.99% variable
Welcome offer $300 after spending $3,000 in the first 3 months
Rewards 8% cash back with Vivid Seats, 5% on Uber Eats, 4% on dining and entertainment, 2% at grocery stores and 1% on all other purchases

How we selected our top cards

When choosing our cashback picks, we looked at a few features, including cashback rate, cashback limitations, earning categories and any other perks that a consumer might find appealing in a cashback card. Those cards that outperformed the others in a given category were chosen for our list.

What's changed in 2020

Given the abundance of great cashback cards, we've expanded our list with a few new categories in 2020. On that note, we've crowned new champions for gas, welcome offer and ongoing rewards, as well as a few new niche additions.

We awarded the Blue Cash Everyday® Card from American Express the winner in a different category. It previously held the spot for "Ongoing rewards after a balance transfer," but it no longer offers an intro APR on balance transfers. Even then, it's still a great cashback card.

The Chase Freedom Unlimited® no longer comes with a intro APR period on balance transfers. But even without this perk, the card is still an excellent choice for pairing with other Chase Unlimited Rewards cards.

The Chase Freedom Flex℠ now has the most 5% cashback categories that you’ll find in a credit card. Because of that, it found a spot on our list.

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  • Why trust us? Finder's credit card experts live and breathe credit cards, spending close to 400 hours each week researching and writing on the latest credit card happenings. When it comes to recommending cards, we know what makes a card stand out for a certain kind of consumer. We want to share our expertise and help consumers find a card that best fits into their life. Plus, our editorial guidelines keep our content unbiased and accurate for your benefit.

Summary of best credit cards for cashback

Card nameBest for...Finder ratingRewards
Chase Freedom Unlimited®Best for pairing with Chase cards
★★★★★
5% cash back on travel purchased through Chase, 5% on Lyft, 3% on dining and drugstores and 1.5% on all other purchases
Chase Freedom Flex℠Best 5% cashback card
★★★★★
5% back in rotating categories up to $1,500 combined each activated quarter (then 1%), 5% on travel purchased through Chase, 3% on dining and drugstores, and 1% on all other purchases
Citi® Double Cash CardBest cashback card for unlimited cash back and ongoing rewards after a balance transfer
★★★★★
Up to 2% cash back on purchases (1% when you buy plus 1% as you pay)
Costco Anywhere Visa® Card by CitiBest for gas
★★★★★
4% at gas stations on up to $7,000 annually (then 1%), 3% at restaurants and on travel, 2% at Costco and 1% on all other purchases
Petal 2 “Cash Back, No Fees” Visa® Credit CardBest for new to credit
★★★★★
Up to 10% cash back from select merchants, on other purchases earn 1% back, 1.25% after six on-time payments and 1.5% after 12 on-time payments
Blue Cash Preferred® Card from American ExpressBest cashback card for groceries
★★★★★
6% on select US streaming services, 3% on transit and US gas stations, 6% at US supermarkets on up to $6,000 annually, then 1% after that and on all other purchases
U.S. Bank Cash+™ Visa Signature® CardBest cashback card for rotating categories
★★★★★
5% on up to $2,000 each activated quarter on two categories combined (1% after), 2% on one everyday category and 1% on all other purchases
Blue Cash Everyday® Card from American ExpressBest no-annual-fee cashback card for moderate spending on groceries
★★★★★
2% at US gas stations and select US department stores, 3% at US supermarkets on up to $6,000 per year, then 1% after that and on all other purchases
Capital One® SavorOne® Cash Rewards Credit CardBest cashback card for dining and entertainment
★★★★★
5% cash back on Uber Eats, 3% on dining and entertainment, 2% at grocery stores and 1% on all other purchases
Discover it® Cash BackBest for Cashback Match after first year
★★★★★
5% back in rotating categories up to $1,500 combined each activated quarter, then 1% after that and on all other purchases
Capital One® Savor® Cash Rewards Credit CardBest for welcome offer
★★★★★
8% cash back with Vivid Seats, 5% on Uber Eats, 4% on dining and entertainment, 2% at grocery stores and 1% on all other purchases

Compare cashback cards by credit card network or bank

AMEX logoBank-of-America-LogoCapital-One-Logo
Chase-LogoCiti credit cards logoDiscover provider logo
Wells Fargo Card provider logoMastercard logoVisa logo

Compare cashback credit cards

Name Product Welcome offer Rewards Annual fee Filter values
Blue Cash Everyday® Card from American Express
$200 after spending $1,000 in the first 3 months
2% at US gas stations and select US department stores, 3% at US supermarkets on up to $6,000 per year, then 1% after that and on all other purchases
$0
Get 3% cash back on groceries on up to $6,000 annually (then 1%) with no annual fee. This is a simple and effective rewards card. Rates & fees
Chase Freedom Flex℠
$200 after spending $500 in the first 3 months, plus 5% cash back at grocery stores on up to $12,000 in the first year
5% back in rotating categories up to $1,500 combined each activated quarter (then 1%), 5% on travel purchased through Chase, 3% on dining and drugstores, and 1% on all other purchases
$0
Get up to 5% cashback in rotating and newly added everyday categories. The refreshed Freedom Flex card has lots of earning potential.
Blue Cash Preferred® Card from American Express
$300 after spending $3,000 in the first 6 months (Offer expires 12/10/2020)
6% on select US streaming services, 3% on transit and US gas stations, 6% at US supermarkets on up to $6,000 annually, then 1% after that and on all other purchases
$0 intro annual fee for the first year ($95 thereafter)
Perfect for families: Get up to 6% on everyday purchases and a welcome offer worth $300. This heavy-hitter rewards card has uncontested value. Rates & fees
Citi® Double Cash Card
N/A
Up to 2% cash back on purchases (1% when you buy plus 1% as you pay)
$0
Earn up to 2% on every purchase with no annual fee. This is the highest flat-rate cashback card on the market.
Chase Freedom Unlimited®
$200 after spending $500 in the first 3 months, plus 5% cash back at grocery stores on up to $12,000 in the first year
5% cash back on travel purchased through Chase, 5% on Lyft, 3% on dining and drugstores and 1.5% on all other purchases
$0
This solid 1.5% cashback card gets even better with the addition of up to 5% back in categories like travel, drug stores and dining.
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How do cashback cards work?

With a cashback credit card, your card provider pays you back a small portion of what you spend. For example, if it offers 1% cash back, you'll receive $1 in rewards for every $100 you spend.

Despite the name, you don't actually receive physical cash back for using this kind of card. Instead, you can redeem your cash back as statement credit, deposits into your bank account or other items such as merchandise and gift cards.

Depending on the issuer, your card provider may redeem cash back for you automatically, applying it to your account as statement credit. Some providers require you to have a minimum amount of cash back before you can redeem — often $25 or more.

There are three types of cashback cards:

1. Flat rate cashback cards

These simple cards earn the same percentage for everything, no matter what type of purchase it is. Look for a card that earns 1.5% or 2% cashback.

2. Tiered cashback cards

Tiered cards earn elevated cashback on set purchases, which are generally everyday spending areas such as gas and groceries. These cards can earn up to 6% cashback on the bonus categories!

3. Rotating category cards

These cards earn up to 5% on categories that change each quarter. You'll earn 1% on spending outside the bonus categories.

When is a cash back card worth it?

Given the nature of most cashback cards, its rare that adding one to your wallet won't be worth your time. The main consideration you'll want to think about before applying for one is what kind of cashback card do you want: a flat rate card, or category card. This will most determine whether a cashback card is worth it.

Which you pick ultimately comes down to your spending habits. Do you want to earn a flat-rate on all purchases? Or do you want to earn a higher rate on specific purchases, albeit on categories that rotate throughout the year? Here's how your earnings could pan out after one month of spending using the Citi® Double Cash Card and Chase Freedom Flex℠ as examples.

Flat-rate: Citi® Double Cash Card

PurchasesAmount spentCash back earned
Groceries$400$4
Gas$100$1
Travel$300$3
Total$800$8
Double cash perk total$16

Categories: Chase Freedom Flex℠

Unlike the Citi® Double Cash Card, the Chase Freedom Flex℠ can earn up to 5% cash back on eligible purchases. However, the categories eligible to earn 5% on a quarterly basis need to be activated and you can only earn this rate up to a certain spending cap.

Outside of these bonus categories, you earn 5% cash back on travel through Chase Ultimate Rewards and on Lyft through March 2022, 3% back at restaurants and drugstores and 1% back on everything else. As of this writing, the card's quarterly bonus categories included gas stations, internet, cable and phone services, and select streaming services.

PurchasesAmount spentCash back earned
Groceries$400$20
Gas$100$5
Travel$300$15
Total$800$40

How to compare cashback cards

As you compare credit cards, certain features may stand out to you. Here's what to look for as you find your next cashback card.

Annual fee

Consider a card with no annual fee. If you choose a card with an annual fee, make sure you can earn enough rewards within a year to offset the fee.

How much cash back will you earn?

Think about the areas you spend the most and pick a card that earns more cashback in those areas.

Signup bonus

Cashback cards commonly offer signup bonuses to new cardholders. If a card has a bonus, consider whether you can meet the spending requirement in time.

Earning or spending caps

Some cashback cards cap the amount of rewards you can earn within a certain time period.

Do you travel?

If you travel, a cash back card might not offer the greatest value for your spending needs.

Additional features

Some cashback cards might come with intro APRs or forgo foreign transaction fees.

You asked, we listened: Top 5 common questions

Cash back on purchases sounds straightforward, but there can be a few caveats. Here are the five most common questions we receive on the subject.

  1. Do cashback cards actually give cash? No. Instead, you'll receive a statement credit on your card account.
  2. What credit score do I need? Generally, many cashback credit cards require good credit or better for qualification.
  3. Do I owe taxes on cash back? No. Cash back is treated as a discount for the purpose of taxes.
  4. Which is better: cash back or reward points? This depends on what you ultimately want to use your rewards points on. While you can potentially get more value out of reward points, cash back is also worth it if you personally find it valuable.
  5. What types of cashback cards are there? Cashback cards fall into three earning categories: flat rate, tiered and rotating categories.
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Cashback cards by credit score

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Bottom line

Cashback cards are typically pretty easy to understand. At the same time, they can offer attractive rewards.

Consider your spending to figure out which kind of card might reward you most. Then, compare your cashback options to find the best product for you.

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Credit card ratings

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★★★★★ — Subpar

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Our team evaluates credit cards to determine their value against similar cards on the market.

We rank card types — travel, cash back, business — on a set of factors that are most relevant to that type of card. We create these rankings to help you narrow down a credit card that best suits your spending and budget.

Learn the details of our methodology and scoring.

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