Best Cashback Credit Cards of 2020

Take advantage of lucrative rewards by choosing the right card for your specific needs.

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Cashback credit cards are the most basic types of rewards cards. And if you know how to use them to your advantage, you can see fantastic rewards. Learn how they work, read expert tips and get the answers to five of the most common questions about cashback credit cards.

Best cashback credit cards

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

Instead of a basic rotating category system, the U.S. Bank Cash+™ Visa Signature® Card lets you earn a higher cashback rate on your top two spending categories for that quarter, up to a cap of $2,000. After that, you’ll still earn 1% back on purchases in that category, making this a terrific rotating category card for flexibility (see rates & fees).

Annual fee$0
Purchase APR15.49% to 24.99% variable
Balance transfer APR0% intro for the first 12 billing cycles (then 15.49% to 24.99% variable)
Welcome offer$150 after spending $500 in the first 90 days
Rewards5% 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
Rates & feesrates & fees
Pros
  • 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 $150 bonus after spending $500 on purchases in the first 90 days of card membership.
  • No annual fee. Pay no annual fee to own the card.
  • Categories vary.Since categories rotate, you aren’t guaranteed one that you can use well.

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

If you spend up to $6,000 a year on groceries alone, the Blue Cash Preferred® Card from American Express might be your cashback card of choice. It earns a sublime 6% back at US supermarkets on up to $6,000, reverting to 1% back after that.
Annual fee$95
Purchase APR0% intro for the first 12 months (then 14.49% to 25.49% variable)
Balance transfer APR0% intro for the first 12 months (then 14.49% to 25.49% variable)
Welcome offer$250 after spending $1,000 in the first 3 months
Rewards6% 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
Rates & feesrates & fees
Pros
  • 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 $250 in statement credit after spending $1,000 on purchases in the first three months of card membership.
  • Intro APR. Enjoy a 0% intro APR period on balance transfers and purchases for the first 12 months of account opening (see rates & fees). After that, a variable APR of 14.49% to 25.49% applies.
  • Annual fee. You’ll pay $95 annually to use this card.

Compare more American Express cashback cards

Best cashback card for dining: Capital One® Savor® Cash Rewards Credit Card

This card offers a market-leading 4% cash back on dining. It also offers accelerated rewards on entertainment and at grocery stores. If you don’t want to pay an annual fee, consider the Capital One® Savor® Cash Rewards Credit Card or Uber Visa Card.

Annual fee$0 intro annual fee for the first year ($95 thereafter)
Purchase APR15.99% or 24.99% variable
Balance transfer APR15.99% or 24.99% variable
Welcome offer$300 after spending $3,000 in the first 3 months
Rewards4% cash back on dining and entertainment, 2% at grocery stores and 1% on all other purchases
Rates & feesrates & fees
Pros
  • Earn cash back.
    Earn 4% cash back on dining and entertainment, 2% at grocery stores and 1% on all other spending.
  • Signup bonus.
    Earn a $300 cash bonus after you make $3,000 in purchases within the first 3 months of account opening.
  • $0 intro annual fee.
    After that, the annual fee is $95.
  • Annual fee. After the intro period, you’ll pay $95 annually to use this card.

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Best cashback card for unlimited cash back: Citi® Double Cash Card

The Citi® Double Cash Card is a great choice if you want a simple “fire and forget” cash back card. This tried-and-true consumer favorite features one of the highest cash back rates among unlimited cash back cards and sports no annual fee to boot.
Annual fee$0
Purchase APR15.49% to 25.49% variable
Balance transfer APR0% intro for the first 18 months (then 15.49% to 25.49% variable)
Welcome offerN/A
Rewards1% cash back when you make purchases and 1% cash back when you pay off your card
Pros
  • Earn cash back. Earn cash back twice on everything you buy — 1% when you make the purchase and 1% when you pay your balance.
  • Intro balance transfer APR. 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 15.49% to 25.49% applies.
  • No annual fee. All of the card’s perks and benefits come without an annual fee.
  • High late payment fees. Pay late and you could face up to $39 in penalty fees.

Compare more 5% cash back credit cards

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

We previously listed the Uber Visa Card as the best cashback product for dining. Barclays recently revamped the card, offering a stellar 5% back on Uber, Uber Eats and JUMP spending but lowering the dining rate to 3%. That means the Capital One® Savor® Cash Rewards Credit Card now offers the highest cashback rate for foodies.

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Compare cashback cards by credit card issuer or bank

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Our pick for a cashback credit card

Blue Cash Everyday® Card from American Express

  • Earn a $150 statement credit after you spend $1,000 in purchases on your new card within the first 3 months.
  • 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%).
  • 2% cash back at U.S. gas stations and at select U.S. department stores, 1% back on other purchases.
  • Low intro APR: 0% for 15 months on purchases and balance transfers, then a variable rate, currently 14.49% to 25.49%.
  • Over 3 million more places in the U.S. started accepting American Express® Cards in 2017 and 2018.
  • Cash back is received in the form of Reward Dollars that can be easily redeemed for statement credits, gift cards, and merchandise.
  • No annual fee.
  • Terms apply.
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See Rates & Fees

Compare cashback credit cards

Name Product Welcome offer Rewards Annual fee Filter values
Blue Cash Everyday® Card from American Express
$150 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
Earn a $150 bonus statement credit after you spend $1,000 on purchases in the first 3 months. Rates & fees
Capital One® Quicksilver® Cash Rewards Credit Card
$150 cash back after spending $500 in the first 3 months
1.5% cash back on all purchases
$0
Earn unlimited 1.5% cash back on every purchase, every day.
CardMatch™ from creditcards.com
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See terms
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Can't decide on a card? Get personalized credit card offers with CardMatch™.
Blue Cash Preferred® Card from American Express
$250 after spending $1,000 in the first 3 months
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
$95
6% cash back at US supermarkets. Rates & fees
American Express Cash Magnet® Card
$150 after spending $1,000 in the first 3 months
1.5% cash back on all purchases
$0
Unlimited 1.5% cash back. Rates & fees

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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.

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

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?

Many hotel credit cards offer a sizable signup bonus that you can use toward several free nights.

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 5 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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Read more about cashback credit cards

Kevin Chen

Kevin Chen
Credit Cards Writer

Hi, I’m Kevin! I think a cashback card — especially one that offers flat-rate rewards — is an excellent choice to start out with. I still have mine and use it every week. Here are a few articles that’ll give you the scoop on cashback products.


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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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