Best Cash Back Credit Cards of September 2023

CREDIT CARDS - CASHBACK CREDIT CARDS
Updated Sept. 21, 2023

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Cash back credit cards are the easiest way to earn rewards for all your purchases. Whether you're buying groceries, gas, or enjoying a meal out, using a cash back card means money back in your bank account. 

There are dozens of cash back cards to choose from when you're looking for the best credit cards. The key is picking one (or two, or three) that align with your spending habits and personal finance goals, then using your cards responsibly. We've narrowed down the choices for you — all of these cards offer competitive cash back, many with generous welcome bonuses and no annual fee. 

In this article

Our picks for the best cash back cards

  • Wells Fargo Active Cash® Card
  • Capital One Quicksilver Cash Rewards Credit Card(Rates and fees)
  • U.S. Bank Cash+® Visa Signature® Card
  • Bank of America® Unlimited Cash Rewards credit card
  • Ink Business Cash® Credit Card
  • Bank of America® Customized Cash Rewards credit card
  • Blue Cash Preferred® Card from American Express
  • Citi® Double Cash Card
  • Chase Freedom Unlimited®
  • Blue Cash Everyday® Card from American Express

Current Offer

$200 cash rewards bonus after spending $500 in purchases in the first 3 months

Annual Fee

$0

Rewards Rate

Earn 2% cash rewards on purchases

Why We Like It
Card Details

Current Offer

Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening

Annual Fee

$0

Rewards Rate

1.5% cash back on every purchase, every day; and 5% cash back on hotels and rental cars booked through Capital One Travel (terms apply)

Why We Like It
Card Details
U.S. Bank Cash+® Visa Signature® Card

U.S. Bank Cash+® Visa Signature® Card

Current Offer

Earn a $200 bonus after spending $1,000 in eligible purchases within the first 120 days of account opening

Annual Fee

$0

Rewards Rate

5% cash back on two categories you choose (up to $2,000 in combined eligible purchases each quarter) and on prepaid air, hotel and car reservations booked directly in the Rewards Center; 2% cash back on one everyday category, like gas stations/EV charging stations, grocery stores, or restaurants; and 1% cash back on all other eligible purchases

Why We Like It
Card Details

Annual Fee

$0

Why We Like It
Card Details

Current Offer

Earn $900 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening

Annual Fee

$0

Rewards Rate

5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year; 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year; and 1% cash back on all other purchases

Why We Like It
Card Details

Annual Fee

$0

Why We Like It
Card Details

Current Offer

Earn a $250 statement credit after spending $3,000 on purchases in the first 6 months

Annual Fee

$0 intro annual fee for the first year, $95 per year thereafter

Rewards Rate

6% cash back at U.S. supermarkets (for first $6,000 per year, after that 1%) and on select U.S. streaming services, 3% cash back at U.S. gas stations and on eligible transit, and 1% cash back on other eligible purchases

Why We Like It
Card Details

Current Offer

Balance Transfer Only Offer: 0% intro APR on Balance Transfers for 18 months. After that, the variable APR will be 19.24% - 29.24%, based on your creditworthiness

Annual Fee

$0

Rewards Rate

2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases

Why We Like It
Card Details

Current Offer

Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back

Annual Fee

$0

Rewards Rate

5% cash back on Chase travel purchased through Ultimate Rewards®, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service and unlimited 1.5% cash back on all other purchases

Why We Like It
Card Details

Current Offer

Earn a $200 statement credit after spending $2,000 in purchases in the first 6 months

Annual Fee

$0

Rewards Rate

3% cash back at U.S. supermarkets, U.S. gas stations, and U.S. online retail purchases (up to $6,000 per year on purchases in each category, then 1%); and 1% cash back on other eligible purchases

Why We Like It
Card Details

How to pick the right cash back card for you

When shopping for a credit card, you should always look to see whether the benefits of a card provide value to you. You can get started learning about a card by reading credit card reviews and comparisons.

Bonus categories and rewards

If you routinely spend money on takeout and travel purchases, a category card that gives you higher rewards (upon activation) for these specific type of purchases could be a good choice. A card that offers bonus rewards on groceries or gas might not provide as much value if those are lower spending categories for you. There are even a few cards that let you pick your highest earning rate for rewards in the category of your choice. 

If you spend a lot on travel each year, then you might also want to consider travel credit cards that earn points or miles that you can redeem for travel.

To evaluate different credit card offers, read through the card details so you can fully understand what benefits the card is offering, what your obligations are, what to expect in terms of rewards rate, how you can use the rewards you can earn, and what interest and fees are associated with the card. 

Fees

Many cards come with foreign transaction fees, cash advance fees, and balance transfer fees. Do your due diligence so you know what to expect.

Some cards will charge an annual fee, while others will not. If you don't think you'll get the best rewards to justify a card's annual cost, then you'll want to pick from the no-annual-fee cards.

0% intro APR and balance transfer cards

In addition to earning cash rewards, some cash back cards also offer a 0% intro APR on purchases or balance transfers for a set time period, usually a number of months or billing cycles. If you're interested in transferring a balance to a new card to save on interest, make sure you review the fine print about balance transfer fees, which typically cost around 3-5% of the amount of each transfer. 

Whether you're planning to do a balance transfer or make a large purchase with your new 0% APR card, ensure you pay off the entire balance of your card before the introductory APR offer ends and the regular variable APR kicks in. Doing so can help you save on costly interest charges.

Note: There are also cash back business credit cards with rewards categories tailored to typical small business expenses.

FAQs

How do cashback credit cards work?

When you use a cashback credit card, the issuer gives you back a percentage of what you spend on qualifying purchases but there are different types of cashback credit cards. For example, if you have a flat-rate cash back card that offers 1.5% back on all purchases and you buy a $10 birthday cake, the card issuer will give you 15 cents back. Certain cash back cards also offer rotating bonus categories, which typically vary from quarter to quarter. One quarter, bonus cashback categories might include eligible purchases while online shopping on Amazon, Target, or Walmart, and the next, you might earn bonus cash at a wholesale club or home improvement store, or on a streaming subscription. As an added bonus, some issuers will even match the cash back you earn at the end of your first year, up to a certain amount.

The rewards structure will vary from card to card, though redemption options may be similar across cards. Cash back is typically offered to you in either statement credits, direct deposits to your checking account, mailed checks, or credits you can use to purchase gift cards. Some issuers even let you donate your cash back to a charity.

What credit card gives the most cash back?

That’s a complicated question, as different people value different things with cash back cards. A card that offers a 5% cashback rewards rate on dining and entertainment won’t be as valuable to a family who doesn’t go out to eat much. However, a card that gives them 3% back at select U.S. grocery stores may greatly appeal to them, even though the percentage is lower.

What’s important is deciding what matters most to you and what your spending habits are, so you can look for cards that offer high cashback rates for the purchases you make most. High percentages are generally anything above 2%, as most cash back cards offer 1% or 1.5% on select purchases. And don't forget to pay attention to spending caps for certain categories, which are most often limits on your annual spending. 

Here are some excellent cards for earning cash back in different categories:

Why do credit cards offer cash back?

Competition among credit card issuers is fierce and any kind of incentive program, such as rewards or cash back, can make one card more appealing than others. In a way, it’s all about getting your business.

The money you get back typically comes from transaction fees that merchants pay every time they process a charge. The issuer takes a percentage of those fees and passes it on to customers with cash back cards.

Getting a percentage of money back encourages consumers to swipe more, which results in more transaction fees collected from merchants by the issuer. You may also find that cash back cards often have higher interest rates than those without rewards. Because these cards are so popular, issuers can set their APRs higher and still gain new customers.

Is it better to get cash back or rewards?

Whether cash back or miles are better really depends on you and what you value most. Big travel spenders might appreciate rewards that can be traded in for airline tickets, statement credits, and hotel stays may be worth more than cash back. However, some credit cards offer cashback rewards that can save customers a lot of money annually, which may be more important for someone else. In the end, it’s up to you to decide which is better for your situation.

If you'd prefer more flexibility, certain cashback rewards cards also allow you to use your cash back to book travel. This can give you the best of both worlds if you're on the fence about which type of card to choose. For instance, if you have the Chase Freedom Unlimited, you can convert your cashback earnings into travel rewards and use them to book travel through the Chase Ultimate Rewards program.

What credit score do you need to get approved for a cashback credit card?

Every issuer will likely consider your creditworthiness when you apply for a new cash back card, though credit requirements will vary. Some issuers may require excellent credit for approval, while others may approve your application even if you have a credit score on the low side, or a more limited credit history. Approval is at the issuer's discretion. To increase your options when it comes to credit cards, it's a good idea to learn more about how FICO Scores work and how to improve your credit score.


Methodology: How we chose these cards

To select the best cashback credit cards, we looked for cash rewards credit cards from our partners that offer bonus cash back-earning opportunities in popular spending categories, as well as strong welcome offers. We looked at these benefits in relation to each card's annual fee to determine which cards to include on our list. We did not include all cards available.

Lucrative, Flat-Rate Cash Rewards

Current Offer

$200 cash rewards bonus after spending $500 in purchases in the first 3 months

Annual Fee

$0

Rewards Rate

Earn 2% cash rewards on purchases

Benefits and Drawbacks
Card Details