In the sleek ranks of rewarding credit cards, cashback credit cards are the key to simplicity. Are standing To make daily purchases on cashback credit card. The rewards you receive can be converted, transferred or strategized to maximize value. No need to repeat like some other reward credit cards. All you have to do is deposit bonus cash into your account or get a statement credit on your monthly bill. best 8 cash-back credit cards in 2020
I used the Bureau of Labor Statistics’ Consumer Spending Survey data to estimate the cost of each card for an individual and to determine what spending conditions are significant for each individual.best 8 cash-back credit cards in 2020
BEST CASH-BACK CREDIT CARDS
| Card | Best for | Reward rates | New member bonus |
|---|---|---|---|
| Chase Freedom Unlimited | Best flat-rate card with bonus | Unlimited 1.5% cash back on every purchase | $200 after spending $500 within the first three months |
| Citi Double Cash Card | Best flat-rate card for higher spenders | Unlimited 2% on every purchase (1% at purchase, 1% when you pay off the purchase), and 1% back on all other purchases | $0 |
| Wells Fargo Propel American Express Card | Best no-fee category card | Unlimited 3% cash back on dining, travel, transit and select streaming services, 1% back on all other purchases | $200 after spending $1,000 within the first 3 months |
| Bank of America Cash Rewards Credit Card | Best quarterly rewards card / best for online shopping | 3% cash back in choice category (gas, dining, travel, online shopping, drug stores, home improvement/furnishings) and 2% back at grocery stores/wholesale clubs up to $2,500 per quarter, 1% back on all other purchases | $200 after spending $1,000 within the first 90 days |
| Amazon Prime Rewards Visa Signature Card | Best for Amazon and Whole Foods shoppers | 5% on Amazon, Whole Foods; 2% at restaurants, gas stations, drugstores, 1% back on all other purchases | $100 Amazon gift card upon approval |
| Apple Card | Best for regular Apple shoppers, instant rewards and privacy | 3% on Apple, Uber and Walgreens purchases, 2% on Apple Pay purchases, 1% back on all other purchases | $0 |
| Capital One Savor Cash Rewards Credit Card | Best for dining and entertainment | Unlimited 4% cash back on dining and entertainment, 2% at grocery stores, 1% back on all other purchases | $300 after spending $3,000 within the first 3 months |
| Blue Cash Preferred from American Express | Best for big grocery bills | 6% cash back on groceries at US supermarkets up to $6,000 per year, then 1%. 6% on select US streaming services, 3% on transit and US gas stations, 1% back on all other purchases | $250 after spending $1,000 within the first 3 months |
Chase Freedom Unlimited
best 8 cash-back credit cards in 2020
Reward rates: Unlimited 1.5% cash back on every purchase
Annual fee: $0
New member bonus: $200
Bonus redemption threshold: $500 in first three months
Credit requirement: Good to Excellent
Intro APR: 0% on purchases and balance transfers (15 months)
APR for purchases: 16.49% to 25.24% variable
APR for balance transfers: 16.49% to 25.24% variable
Balance transfer fee: 5% (minimum of $5)
best 8 cash-back credit cards in 2020
When to use this card
For your overall credit card strategy, Chase Freedom Unlimited can be the only card in your wallet if you’re going for simplicity, or whenever you buy something outside of another bonus category, such as a plane ticket, If you don’t, you don’t have a card that offers bonus points for travel purchases. When paired with such cards, it can also be useful to earn Chase Ultimate Rewards Points, as you can convert your prizes into points, which can increase their value.best 8 cash-back credit cards in 2020
Keep in mind that cards that offer a higher percentage on certain types, such as Capital One Swine’s 4% for food, drink and entertainment, offer only 1% back on all other categories, so this freedom is unlimited. Pays to hold a flat rate card like hand. For purchases that do not fall into the bonus category of your other card.best 8 cash-back credit cards in 2020
Citi Double Cash Card
best 8 cash-back credit cards in 2020
Reward rates: Unlimited 2% cash back on every purchase
Annual fee: $0
New member bonus: $0
Bonus redemption threshold: None
Credit requirement: Good to Excellent
Intro APR: 0% on balance transfers (18 months)
APR for purchases: 15.49% to 25.49% variable
APR for balance transfers: 15.49% to 25.49% variable
Balance transfer fee: 3% (minimum of $5)
When to use this card
Like Freedom Unlimited, the City Double Cash Card can be the only card in your wallet, or it can be your favorite card whenever you buy something outside of the bonus category.best 8 cash-back credit cards in 2020
The important thing is that whenever you make a foreign transaction, there is a 3% transaction fee in this card. It offers a cash advance, but the fee is 10 or 5% of each cash advance.best 8 cash-back credit cards in 2020
Wells Fargo Propel American Express Card
Reward rates: Unlimited 3% cash back (3x points) on dining, travel, gas stations, transit and select streaming services, 1% (1x points) on everything else best 8 cash-back credit cards in 2020
Annual fee: $0
New member bonus: $200 (20,000 points)
Bonus redemption threshold: $1,000 in first three months
Credit Requirement: Good to Excellent
Intro APR: 0% on purchases and balance transfers (12 months)
APR for purchases: 15.49% to 27.49% variable
APR for balance transfers: 15.49% to 27.49% variable
Balance transfer fee: 5% (minimum of $5)
When to use this card
Since the bonus categories are not rotating and the card covers a lot of ground, I suggest pairing it with City Double Cash Card or Chase Freedom Unlimited for expenses in the bonus category. Keep in mind that there are very few reasons to log in to a purchase because there are 1.5% and 2% earners when you don’t receive a fee.best 8 cash-back credit cards in 2020
Bank of America Cash Rewards Credit Card
best 8 cash-back credit cards in 2020
Reward rates: 3% cash back in choice category (gas, dining, travel, online shopping, drug stores, home improvement/furnishings); 2% back at grocery stores/wholesale clubs up to $2,500 per quarter; 1% on everything else best 8 cash-back credit cards in 2020
Annual fee: $0
New member bonus: $200
Bonus redemption threshold: $1,000 in first 90 days
Credit requirement: Good to Excellent
Intro APR: 0% on purchases and balance transfers (15 months)
APR for purchases: 15.49% to 25.49% variable
APR for balance transfers: 15.49% to 25.49% variable
Balance transfer fee: 3% (minimum of $10)
When to use this card
Given the flexibility in the rewards program, I suggest you use this card to bridge the gap in your cost strategy. If you have a flat rate card, a grocery card, and a food and beverage, but you spend more than $ 100 per month shopping online, you can sign in with a Bank of America Cash Rewards Card. You can choose “online shopping” and treat yourself. It’s like your online spending card. I specifically use the online shopping category because it is less common than types like gas or food, but you can obviously choose the type that makes the most sense in terms of your spending habits. Keepsbest 8 cash-back credit cards in 2020
best 8 cash-back credit cards in 2020
Amazon Prime Rewards Visa Signature Card
Reward rates: 5% on Amazon, Whole Foods; 2% at restaurants, gas stations, drugstores; 1% on everything else
Annual fee: $0
New member bonus: $100 Amazon Gift Card
Bonus redemption threshold: Card approval
Credit requirement: Fair
Intro APR: None
APR for purchases: 15.74% to 23.74% variable
APR for balance transfers: 15.74% to 23.74% variable
Balance transfer fee: 5% (minimum of $5)
When to use this card
If you shop a ton at Amazon and Whole Foods and spend most of your time on restaurants and gas, the Amazon Prime Reward Card may be your only cash back card. Beyond this specific expense profile, though, I suggest using this card like everyone else – as a supplement to the flat rate card to get cash for Amazon and Whole Foods purchases.best 8 cash-back credit cards in 2020
best 8 cash-back credit cards in 2020
Apple Card
Reward rates: 3% on Apple, Uber and Walgreens purchases; 2% on Apple Pay purchases; 1% on everything else
Annual fee: $0
New member bonus: $0
Bonus redemption threshold: None
Credit requirement: Fair
Intro APR: None
APR for purchases: 12.49% to 23.49% variable
APR for balance transfers: Not offered
Balance transfer fee: Not offered
When to use this card
If the basic 3% category (Apple, Uber and Walgreen) applies to many of your purchases, this is a good cash back option. But, ٪ 2 is a bit poor for Apple Pay unless all retailers accept Apple’s pay, while City Double Cash Card offers up to ٪ 2 no matter what. This card is primarily for those interested in the card’s privacy policy and instant rewards.best 8 cash-back credit cards in 2020
best 8 cash-back credit cards in 2020
Blue Cash Preferred Card from American Express
Reward rates: 6% cash back on groceries at US supermarkets up to $6,000/year (less than 1%). 6% on select US streaming services, 3% on transit and US gas stations, 1% on everything else
Annual fee: $95
New member bonus: $250
Bonus redemption threshold: $1,000 in first three months
Credit requirement: Good to Excellent
Intro APR: 0% on purchases and balance transfers (12 months)
APR for purchases: 13.99% to 24.99% variable
APR for balance transfers: 13.99% to 24.99% variable
Balance transfer fee: 3% (minimum of $5)
When to use this card
Given the generous 6% cashback rate, you only have to spend approximately ماہ 140 per month on US supermarket purchases for a fee, and about 200 200 per month to receive the same rewards. So if you spend more than $ 200 per month on grocery and chain purchases, it becomes a profitable card. The real dessert is between ery 350 and c 500 monthly grocery expenses, where you’re making a maximum of 6 6.best 8 cash-back credit cards in 2020
best 8 cash-back credit cards in 2020
Capital One Savor Cash Rewards Credit Card
Reward rates: Unlimited 4% cash back on dining and entertainment, 2% at grocery stores, 1% on all other purchases
Annual fee: $95 (waived first year)
New member bonus: $300
Bonus redemption threshold: $3,000 in first 3 months
Credit requirement: Good to Excellent
Intro APR: None
APR for purchases: 15.99% to 24.99% variable
APR for balance transfers: 15.99% to 24.99% variable
Balance transfer fee: None (“3% of the amount of each transferred balance that posts to your account at a promotional APR that we may offer you.”) best 8 cash-back credit cards in 2020
When to use this card
This card is even more meaningful if you are spending more than 30 this per month on food and entertainment. If so, I just recommend putting those purchases on it. There is no reason to charge a 1% penalty for noodles and entertainment purchases. Use your 1.5 ٪ or 2 ٪ card for these people.best 8 cash-back credit cards in 2020
