Credit cards with travel rewards can help you in earning sizeable returns when you wish to track point values along with optimum redemption points. However, in some cases, you only wish to earn rewards in a manner that you are able to understand easily -in the form of cents or dollars.
As a matter of fact, it is revealed that around 72 percent of reward-based cardholders reveal that they prefer the method of cash-back rewards in comparison to all other redemption types. Therefore, it is crucial to understand the best cash-back credit cards out there.
What are the Best Cash Back Credit Cards in 2023?
As far as cash-back credit cards are concerned, they will indeed pay when you do your homework well. When you make use of the right cash-back card strategically, it will help you earn significantly every year.
If you wish to earn lucrative rewards on the amounts you spend with the help of your credit cards, here are some best options for the top cash-back credit cards in 2023.
Chase Freedom Unlimited
This credit card is well-suited for customers who are looking for a robust cash-back credit card without any annual fees. With this credit card, cardholders are given the opportunity to earn around 5 percent cash back on travels made with the help of the Chase Ultimate Rewards option. At the same time, customers also have the option of earning 3 percent on dining at restaurants and drugstores and around 1.5 percent on all other types of purchases.
If you wish to maximize your overall rewards, you are provided access to a lucrative bonus. On the purchase of around $20,000 that is spent during the first year with the card, cardholders will earn an extra 1.5 percent on all diverse categories.
The card does not charge any annual fee. Moreover, you have the chance to benefit from the zero percent APR for the first 15 months on all balance transfers and new purchases. There is no involvement of an introductory fee for a balance transfer made possible within the first 60 days of opening the account.
Citi Double Cash Card
The Citi Double Cash Card is based on a cash-back offer. It serves as the ultimate choice if you wish to maximize the overall money without worrying about rotating reward-specific categories. You can earn around one percent cash back on all purchases, along with one percent when you are paying off the bill. This makes the overall appeal of the credit card quite global. It is because you are no longer to miss out on lucrative reward opportunities.
With Citi Double Cash Card, there is no involvement of annual fees. Moreover, you are also provided with the ease of using the lucrative rewards program of the card without any requirement of activation. There is no limit on the amount of cash back you can earn out of the card. Cardholders are given the opportunity to redeem cash back for statement credits or checks once they have earned around $25 worth of cashback. Moreover, in case you forget to pay your card, Citi will also waive the first late fee. Still, it is recommended to always pay off the credit card balance within the stipulated time every month to avoid high-interest charges.
The Citi Double Cash Card is available with zero percent APR to the cardholders for the first 18 months upon balance transfers that are initiated within four months of your account opening. Along with the cash-back rewards, there are several cardmember-specific programs like Citi Entertainment. This program offers cardholders first-ever access to buy tickets for a number of events and concerts. The card also offers access to the program known as Citi Identity Theft Solutions, -a dedicated service that aims at assisting you when you have become a victim of identity theft.
Chase Freedom Flex
In case you wish to maximize rewards, you can consider leveraging the card category of rotating bonuses like the Chase Freedom Flex. This card is capable of offering around 5 percent cash back on amounts around $1500 in the form of combined purchases in specific bonus categories like every quarter you will activate, then eventually, one percent. The card’s unique cash-back calendar is known to change almost every quarter.
Along with rotating rewards, you are capable of earning around 5 percent cash back on the travel booked with the help of the Chase Ultimate Reward platform. It is also possible to earn 3 percent cash back on dining across restaurants and at leading drug stores, along with one percent cash back on all types of purchases.
The Chase Freedom Flex credit card also has one of the leading options for welcome bonuses out there. You can look forward to earning around $200 in the form of cashback upon spending around $500 on purchases during the first three months of opening the account. This is like earning 40 percent back.
You can also leverage the benefit of the feature of World Elite Mastercard, like Fandango credits and cell phone protection. Moreover, the Freedom Flex card is available without any annual fees while offering a competitive zero percent APR for the first 15 months on all balance transfers and new purchases. There is the absence of an intro fee for a balance transfer of either 3 percent or $5 on every transfer.
Discover It Student Cash Back
When you are in college, building ample credit serves to be a great way to ensure relevant credit by the moment you will eventually graduate. A student card -like the Discover It Student Cash Back, can assist you in building ample credit while also helping you earn cash back. To qualify for this student credit card, you are expected to meet some requirements -be above the age of 18 years, be a citizen of the United States of America, and attend a college of duration of 2 years or four years.
The credit card given to students comes without any annual fees. Once the card is activated, you will receive around 5 percent cash back on rotating categories every quarter -around $1500 maximum on every quarter -then, eventually, one percent. All other types of purchases can help you in earning unlimited one percent cash back automatically.
With the Discover It Student Cash Back card, there is no involvement of foreign transaction fees -making it a great choice for students who are pursuing their studies abroad. If you wish to finance dorm room staples or textbooks, you can leverage the benefits of the introductory zero percent APR for the first half year on all new purchases. After the completion of the introductory period, there is a variable APR of around 17.49 percent to 26.49 percent. It is always recommended to pay off the balance on time and in total amounts to avoid higher interest charges.
Capital One QuickSilver Cash Rewards Credit Card
Most of the leading cash-back credit cards will require excellent or decent credit. However, there are some cards for individuals having average or fair credit scores while offering impressive cash-back rates. The cash-back credit card offers its consumers a competitive cashback of around 1.5 percent on all types of purchases. There is no limitation on the amount of cashback you are capable of earning with the card.
To top it all, the cashback can be effectively redeemed at any given amount -without the typical need for maintaining the minimum amount of $25 on other credit cards.
The card is available with an annual fee of $39. Credit card is also known to charge no fees for foreign transactions. You can also come across a myriad of additional features like travel accident insurance covers along with a waiver for auto rental collision damage, 24/7 travel assistance services, and so more.
There are several types of credit cards offering the perks of lucrative cash-back offers and rewards. When it comes to cash-back cards, some of the common types you can encounter are flat-rate cash-back cards, rotating category cash-back cards, and bonus rewards cash-back cards. Based on your specific spending habits, you can leverage the benefits of possessing more than a single cash-back card.