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    The highest paying cash back credit card


    the highest paying cash back credit card

    Cashback Credit Cards let you earn cashback for making purchases through your credit card. Some cards give High Cashback offers on certain spending. YES Prosperity CashBack Credit Card · 1: Age Criteria: Minimum 21 years to maximum 60 years · 2: Salaried or Self Employed · 3: Minimum Net Salary of INR 25,000. Best Unlimited Cashback Credit Cards: Citi Cash Back+: Unlimited 1.6% cashback on all spend; Standard Chartered Unlimited Cashback: 1.5%.
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    2022 BEST CREDIT CARDS - Best Cash Back Credit Cards + Best Travel Credit Cards + New To Credit ...

    The highest paying cash back credit card -

    Cash-back credit cards let you earn cash rewards on your spending. Some cash-back credit cards offer flat-rate perks, like 1% to 2% cash back on all purchases, while others reward you at higher rates, between 2% and 6%, when you spend money within different categories, such as groceries, gas or even with certain retailers. The best cash-back credit card ultimately depends on your own spending habits and preferences.

    When you earn cash back, your rewards usually show up as a statement credit that can be used to pay your bill or be deposited into your bank account. Every time you use your credit card on eligible purchases, you'll earn real dollars and cents back. It's that simple. Check out our partner offers for the best cash-back credit cards below. We update this list continuously to make sure you stay informed of the best opportunities available. 

    Intro BonusIntro 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!

    APR14.99% - 23.74% Variable

    Recommended Credit Excellent/Good

    Reward Rates
    • Enjoy 5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more;
    • 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service
    • 1.5% on all other purchases

    Annual Fee$0

    Intro Purchase APR0% Intro APR on Purchases for 15 months

    Intro Balance Transfer APR0% Intro APR on Balance Transfers for 15 months

    Balance Transfer Fee Either $5 or 5% of the amount of each transfer, whichever is greater.

    Balance Transfer APR14.99% - 23.74% Variable

    Foreign Transaction Fees 3% of each transaction in U.S. dollars

    Penalty APR Up to 29.99%

    • Enjoy 5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more;
    • 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service
    • 1.5% on all other purchases

    Our Take

    Of all the credit cards available on the market, the Chase Freedom Unlimited covers the most bases when it comes to cash-back categories. They cover travel (5% when booked through Chase Ultimate Rewards), dining (3%) and drugstores (3%), while covering every other purchase with a blanket 1.5% cash-back rate. And for the first year you have this Chase credit card account, you can earn an additional 1.5% cash back on up to $20,000 in purchases, for up to $300. Most welcome-bonuses aren't offered in the form of additional cash back.

    Intro Bonus$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening

    APR13.99% - 23.99% Variable APR on purchases and balance transfers

    Recommended Credit Excellent/Good

    Reward Rates
    • Earn 3% cash back in the category of your choice (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases)
    • Earn automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases)
    • Earn unlimited 1% on all other purchases.

    Annual Fee$0

    Intro Purchase APR0% Intro APR for 15 billing cycles for purchases

    Intro Balance Transfer APR0% Intro APR for 15 billing cycles for any BTs made in the first 60 days. A 3% fee (min. $10) applies.

    Balance Transfer Fee Either $10 or 3% of the amount of each transaction, whichever is greater.

    Balance Transfer APR13.99% - 23.99% Variable APR on purchases and balance transfers

    Late Payment Fee Up to $40

    Foreign Transaction Fees 3%

    Penalty APR up to 29.99% APR

    • Earn 3% cash back in the category of your choice (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases)
    • Earn automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases)
    • Earn unlimited 1% on all other purchases.

    Our Take

    Most cards that offer category selection for maximized cash rewards limit these selections to a single quarter. But the Bank of America Customized Cash Rewards credit card* allows you to select "online shopping" as an indefinite rewards category where you can earn 3% cash-back rewards. Note that you must manually choose this category via online banking or the mobile banking app, as the default category is "gas." 

    You can also earn 2% cash back at grocery stores and wholesale clubs (earn 3% and 2% cash back on up to $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, then 1%), and 1% cash back on all other purchases. The welcome bonus doesn't hurt, either.

    Intro BonusEarn a $300 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.

    APR13.99%-23.99% Variable

    Recommended Credit Excellent/Good

    Reward Rates
    • 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%)
    • 6% Cash Back on select U.S. streaming subscriptions
    • 3% Cash Back on transit including taxis/rideshare, parking, tolls, trains, buses and more
    • 3% Cash Back at U.S. gas stations
    • 1% Cash Back on other purchases

    Annual Fee$0 introductory annual fee for the first year, then $95.

    Intro Purchase APR0% on purchases for 12 months

    Balance Transfer Fee N/A

    Late Payment Fee Up to $40

    Foreign Transaction Fees 2.7% of each transaction after conversion to US dollars.

    Penalty APR 29.99% Variable

    • 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%)
    • 6% Cash Back on select U.S. streaming subscriptions
    • 3% Cash Back on transit including taxis/rideshare, parking, tolls, trains, buses and more
    • 3% Cash Back at U.S. gas stations
    • 1% Cash Back on other purchases

    Our Take

    Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.

    While there are a lot of other quality gas cards available, the Blue Cash Preferred Card from American Express boasts simplicity with straightforward cash-back rewards and no annual fee for the first year ($95 annually after that). With 3% cash back at US gas stations, it gets one of the highest returns on the market for gas purchases. 

    Even for city dwellers and commuters, this card offers great transportation benefits with 3% cash back on transit (trains, buses, parking, rideshare services, taxis, tolls and more). This is a unique offering among gas credit cards. There are plenty more cash-back categories to enjoy with this card, as well. Cash back is received in the form of Rewards Dollars that can be redeemed for a statement credit.

    Intro Bonus$300 after you spend $3,000 on purchases within 3 months from account opening

    APR15.99% - 23.99% (Variable)

    Recommended Credit Excellent, Good

    Reward Rates
    • Earn unlimited 4% cash back on dining, entertainment and popular streaming services
    • Earn 3% at grocery stores
    • Earn 1% on all other purchases

    Annual Fee$95

    Intro Purchase APRN/A

    Intro Balance Transfer APRN/A

    Balance Transfer Fee None for balances transferred at the Transfer APR.

    Balance Transfer APR15.99% - 23.99% (Variable)

    Late Payment Fee Up to $40

    Foreign Transaction Fees None

    Penalty APR None

    • Earn unlimited 4% cash back on dining, entertainment and popular streaming services
    • Earn 3% at grocery stores
    • Earn 1% on all other purchases

    Our Take

    With the Capital One Savor Cash Rewards Credit Card*, you can earn an unlimited 4% cash back on dining and takeout. The $300 welcome bonus (when you spend at least $3,000 within the first 3 months of account opening) can essentially cover your annual fee ($95) for the first three years. 

    You can even earn more cash-back rewards when you make purchases on entertainment (4%), popular streaming services (4%) and grocery stores (3%). For everything else, a 1% cash-back rate covers you. "Entertainment" is a rare category among cash-back credit cards, but Capital One defines it to include movie theaters, sports promoters (professional and semi-professional live events), theatrical promoters, amusement parks, tourist attractions, aquariums, zoos, dance halls, record stores, pool halls and bowling alleys.

    If you want to avoid the annual fee, or don't have a very large dining and entertainment budget, you may also want to consider this card's sibling, the Capital One SavorOne Cash Rewards Credit Card*, or some of our other best picks for restaurant credit cards.

    Intro BonusEarn a $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months

    APR14.99%-24.99% Variable APR

    Recommended Credit Excellent, Good

    Reward Rates
    • Earn unlimited 2% cash rewards on purchases

    Annual Fee$0

    Intro Purchase APR0% intro APR for 15 months from account opening

    Intro Balance Transfer APR0% intro APR for 15 months from account opening on qualifying balance transfers

    Balance Transfer Fee up to 5%; min: $5

    Balance Transfer APR14.99%-24.99% Variable APR

    Foreign Transaction Fees 3%

    Penalty APR None

    • Earn unlimited 2% cash rewards on purchases

    Our Take

    It doesn't get simpler than the Wells Fargo Active Cash Card. This card boasts a 2% flat cash rewards rate on purchases -- one of the highest flat cash rewards rates on the market. You don't have to worry which card you're going to use for which purchase. And while there are other cash rewards credit cards that'll net you 2%, the sign-on bonus, $0 annual fee and introductory APR make this card stand out among the competition. This is also a great option for an emergency credit card.

    FAQs

    How do cash-back credit cards work?

    Cash-back credit cards offer cardholders rewards on their spending in the form of statement credits or cash. A statement credit is a reduction in the amount due to the credit card company on your monthly bill. Note that rewards are not always available the month you earn them -- they are usually applied to your balance by credit card issuers after one or two billing cycles.

    The redemption process for cash-back credit cards is either automatic or very simple. Some cards automatically apply cash rewards to your statement balance each month. Others require you to log in and redeem available rewards points for statement credits. Most points don't expire, but you will lose them if you close the account before redeeming them. 

    What types of cash-back credit cards are there?

    Cash-back credit cards generally fall into four primary categories: flat-rate, tiered, rotating or choose your own. 

    Flat-rate cards offer the same rate for every purchase. Tiered cards offer a different rewards rate for different categories of spending. Rotating category cards offer different rewards each quarter, determined by the card issuer. Choose-your-own category cards allow you to choose your rewards category.

    How do you choose a cash-back credit card?

    To choose the best cash-back credit card for you, the most important thing is to have a clear idea of how you're already spending money each month. Once you identify the categories where you have the highest, most consistent spending, use the charts in our list to determine which card will net you the highest return. Consider other features of the cards, too, such as APR, sign-on bonuses and foreign transaction fees -- make sure you get something that fits with your lifestyle and spending habits.

    Your credit card choice may also be affected by your credit score. Most of the cards we recommend require a good or excellent credit score, which is typically around 670 or higher. If you don't meet the credit criteria required, there are credit cards available that are specifically for those trying to rebuild credit, like secured credit cards. Alternatively, you can look into the best credit cards for no credit and the best credit cards for bad credit.

    How we picked the best cash-back credit cards

    We prioritized the cash-back credit cards that reward broad spending categories where Americans tend to spend significant amounts of money, instead of narrow categories like streaming services or "home improvement." Then we compared reward offerings with potential returns based on typical spending budgets derived from Bureau of Labor Statistics data. 

    In the end, we chose five high-value options from the crowded market. Some are no-annual-fee, flat-rate credit cards that earn the same amount on all purchases. Some require you make a certain qualifying purchase to start earning cash-back rewards. Some credit cards offer a sign-up bonus reward as well as cash back. Some are limited to specific spending categories (such as whether it's a grocery purchase, gas purchase, dining, transit or travel) but have a higher rewards rate, while others charge an annual fee. We then outlined important information for each card, including whether it has a transfer fee, bonus redemption thresholds or introductory APR. We also specified general credit requirements for eligibility (if you find you aren't eligible for a card that offers cash-back rewards, try a student credit card first). 

    For rates and fees of the Blue Cash Preferred Card from American Express, click here.

    *All information about the Bank of America Customized Cash Rewards credit card, Capital One Savor Cash Rewards Credit Card and the Capital One SavorOne Cash Rewards Credit Card has been collected independently by CNET and has not been reviewed by the issuer.

    A direct deposit of news and advice to help you make the smartest decisions with your money.

    The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services offered by our partners.

    The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services offered by our partners.

    Источник: https://www.cnet.com/personal-finance/credit-cards/best-cash-back-credit-cards/

    Are you trying to get the best cash back rewards for your credit card purchases?

    Money expert Clark Howard has long recommended an unlimited 2% cash back credit card with no annual fee as the everyday credit card for your wallet.

    “My favorite reward cards are ones that actually pay you money. I want cash, because nobody can tell you when you can or can’t spend your cash,” Clark says.

    Clark has a Citi Double Cash in his wallet that earns 2% on all purchases.

    And since 2% is generally accepted as the top non-promotional rate of return for cards that don’t charge annual fees or restrict purchase categories, I’ve decided to take a closer look at this segment of the cash back credit card market.

    For this article, Team Clark reviewed cash back credit cards both for the strength of their rewards programs and other perks, in search of the best deal for your wallet.


    Table of Contents


    What Is a 2% Cash Back Credit Card?

    Since this whole article is about the merits of a 2% cash back card in your wallet, it would make sense that I first define that kind of card.

    2% back credit cards reward your purchases made with the card by giving you $0.02 back as a reward for every $1 that you spend. Many times these cards come with no annual fee and include some non-rewards related perks.

    Think of 2% back cards as a subcategory within the cash back credit card category. Those, of course, are a subcategory of their own in the overall scheme of the credit card market.

    Maybe it would help to visualize these as a set of subfolders on your computer:

    In this article, I’m getting extremely precise to help you pick between the cards that would be stashed in that 2% back credit cards folder at the bottom.

    For a more detailed description of our process for analyzing the cards for this review, you can read our methodology.


    Best 2% Cash Back Credit Cards


    Citi® Double Cash Card: Best for Everyday Purchases

    Citi Double Cash Card - Citi's Best Cash Back Credit Card

    What To Know About This Card

    • Annual Fee: $0
    • Rewards Program Highlights: Earn unlimited 2% cash back on purchases (1% when you buy, 1% when you pay your bill).
    • Introductory Offers: 0% APR on balance transfers for the first 18 months of card membership
    • Top Perks: $0 fraud liability and access to the Citi Entertainment portal
    • Team Clark Card Review

    Why We Like It: It’s incredibly simple. There are no limits to the amount of 2% cash back you can earn with this card, so you can spend it anywhere Mastercard is accepted and know exactly what you’ll get in rewards each time. This no-annual-fee card is in Clark’s wallet, so it has his stamp of approval.


    PayPal Cashback Mastercard: Best for Online Shopping

    PayPal Cashback Mastercard

    What To Know About This Card

    • Annual Fee: $0
    • Rewards Program Highlights: Unlimited 2% cash back on all purchases accessible through an active PayPal account
    • Introductory Offers: There is no introductory 0% APR and there’s no standard welcome bonus, but PayPal does send targeted offers to attract new card users. For example, I’ve seen promotional periods of increased cash back, such as 4% back for your first three months.
    • Top Perks: Identity Theft Protection program and microchipped technology for touchless on-the-go payment methods.
    • Team Clark Card Review

    Why We Like It: There’s no minimum balance required to claim your rewards from PayPal, so this one is really easy to use for those who already frequently use PayPal for online transactions.


    Fidelity Rewards Visa: Best for Investing Rewards

    What To Know About This Card

    • Annual Fee: None
    • Rewards Program Highlights: Unlimited 2% cash back awarded as $50 credit to your Fidelity account for every $2,500 in spending
    • Top Perks: No rewards cap, limits or expiration, and flexibility to redeem for travel, merchandise, gift cards or statement credit
    • Team Clark Card Review

    Why We Like It: Much like the Citi Double Cash, this card offers a simple and straightforward path to 2% cash back on every dollar you spend. And since we’re big proponents of making sure you stay on top of your retirement savings, having this reward dump straight into your Fidelity investment account is a stress-free way to add to your long-term savings. This card is on our list of best credit cards for savings and investments.


    SoFi Credit Card: Best for Paying Down Debt

    Sofi Credit Card

    What To Know About This Card

    • Annual Fee: $0
    • Rewards Program Highlights: You can earn points that are worth 2% cash back on every purchase you make, provided that you use the points on a SoFi product (loans, investment accounts, etc.). You can use the reward points for other things, such as a statement credit, but the value dips below 2%.
    • Introductory Offers: The card does not have a promotional APR period, but welcome bonus offers do pop up occasionally. For example, the card recently had a promotion that offered new users $100 worth of reward points for making their first purchase.
    • Top Perks: 12 consecutive on-time payments will result in an interest rate reduction of up to 1%. You can also get cell phone protection by paying your wireless bill with this card.
    • Team Clark Card Review

    Why We Like It: If you’re someone who is already plugged into the SoFi product network with a loan or investing, this card is an easy way to get 2% toward something that could be important to your financial life.

    SoFi is an increasingly popular student loan and personal loan distributor, so this could be a chance for many to accelerate the elimination of that debt — provided you are spending responsibly with the card and paying the balance in full each month, of course.


    Fifth Third Preferred: Best for Cell Phone Protection

    Fifth Third Preferred Cash/Back Credit Card

    What To Know About This Card

    • Annual Fee: $0
    • Rewards Program Highlights: Unlimited 2% cash back with no categorical restrictions or spending caps. You get this in the form of rewards points, which can be converted to cash, statement credit or other benefits.
    • Introductory Offers: There are no welcome bonuses or introductory APR periods for this card.
    • Top Perks: Cell phone protection plan and no foreign transaction fees
    • Team Clark Card Review

    Why We Like It: This card is a really strong 2% back option for Fifth Third customers. You must have a qualified banking account with them to qualify for this card.

    But when you do, you can get coverage for a lost or damaged cell phone as long as you pay your wireless bill with this credit card each month. You can receive up to $800 per claim, but there is a $50 deductible and a $1,000 yearly limit to the benefit.


    TD Bank Double Up Card: Best for Welcome Bonus Perks

    TD Double Up Credit Card

    What To Know About This Card

    • Annual Fee: $0
    • Rewards Program Highlights: Earn 1% cash back on purchases, plus earn 1% cash back when you redeem into an eligible TD Bank Deposit Account. No spending caps or category restrictions.
    • Introductory Offers: 0% APR on balance transfer for 15 months, plus earn $75 cash back in the form of a statement credit when you spend $500 within the first 90 days after opening the account.
    • Top Perks: Zero fraud liability guarantee and digital wallet accessibility
    • Team Clark Card Review

    Why We Like It: This is one of the rare 2% cards that offers both a welcome bonus and an introductory 0% APR period.

    Those are temporary benefits, but if you already have a TD Bank account, the cash back returns on this card match any on the list.


    Wells Fargo Active Cash: Best for 0% APR Periods

    What To Know About This Card

    • Annual Fee: $0
    • Rewards Program Highlights: Earn 2% cash back on purchases. No spending caps or category restrictions. The cash back can be redeemed as cash, account credits or points to be used on gift cards or travel.
    • Introductory Offers: 0% APR on new purchases and balance transfer for 15 months (after that the variable APR will be 14.99% to 24.99%), plus earn a $200 cash rewards bonus when you spend $1,000 within the first 3 months.
    • Top Perks: Cell phone protection coverage included.
    • Team Clark Card Review

    Why We Like It: This is another one of the rare 2% cards that offer both a welcome bonus and an introductory 0% APR period. This one has 0% periods on new purchases and balance transfers.

    When you throw in the cell phone protection, this is one of the more tempting 2% cards.


    Comparison Chart

    Here are some of the defining characteristics of the 2% cards detailed above:

    Card CharacteristicCiti Double CashPayPal Cashback MastercardFidelity Rewards Visa SignatureSoFi Credit CardFifth Third PreferredTD Bank Double UpWells Fargo Active Cash
    Annual FeeNoneNoneNoneNoneNoneNoneNone
    Cash Back RateUnlimited 2% (1% when you buy, 1% when you pay your bill)Unlimited 2%Unlimited 2%Unlimited 2%Unlimited 2%Unlimited 2% (1% when you buy, 1% when you redeem in TD Bank account)Unlimited 2%
    Cash Back Redemption OptionsCheck, statement credit or credit for linked Citi bank accountPayPal balance creditInvestment account credit, travel, merchandise, gift cards, statement creditMust use toward qualified SoFi product for full value, drops to 1% as statement creditCheck, statement credit, credit for a connected Fifth Third account or loanMust deposit rewards into TD Bank account to receive full 2%, value drops to 1% otherwiseCheck, Wells Fargo account credit, travel, gift cards
    Welcome BonusNoneNoneNoneNoneNone$75 if you spend $500 or more within the first 3 months$200 if you spend $1,000 within the first 3 months
    Foreign Transaction Fee3% in U.S. dollars per transactionNone1%NoneNone3% in U.S. dollars per transaction3% in U.S. dollars per transaction
    Cell Phone ProtectionNoNoNoYesYesNoYes

    Things To Look For When Picking a 2% Cash Back Credit Card

    Still not sure which 2% card is best for you?

    You may find that using the comparison chart above to answer some of the following questions is helpful in finding the right fit for your wallet.

    1. Are There Category or Spending Limits?

    We tried to a good job of weeding out all the cards that require you spend your money a certain way in order to receive the 2% benefits.

    But if you look outside this review, you may come across some cards that apply one or both of these restrictions to your rewards.

    A couple of cards you may find that require spending a certain way to receive 2% rewards are the Apple Card (must use Apple Pay to get 2%) and the Spark Cash for Business from Capital One (must be a small business owner).

    2. What Are the Cash Back Redemption Methods?

    Clark likes the Double Cash card because the redemption policy makes it easy for him to convert his rewards into cash.

    As you can see on the comparison chart, that’s not always the case. Some cards require you to invest your rewards with their company or spend it on their products in order to receive the full 2%.

    If you’re funding a retirement account or paying off a student loan with your rewards, that’s no issue. But if you need flexibility with your rewards, it may be a deal breaker.

    3. What Do the Fees Look Like?

    You won’t find any cards with annual fees on this list because it was important to Clark that we offer options for 2% back without worrying about an annual fee cutting into your returns.

    But just because we avoided annual fees doesn’t mean you can forgo analyzing fees altogether.

    Each card has fees for things like balance transfers, cash advances, late payments or returned payments. If you’re paying your bills on time and not using the card for anything but new purchases, this should go pretty low on your list of priorities.

    4. Are There Other Perks That Make This Card Worthwhile?

    Do you need a 0% APR period on balance transfers to bring an existing balance over and pay off debt? There are a couple of cards on this list that you could use for that purpose first and then keep as an everyday spending card.

    That’s just one example of a perk that could make one of these cards more valuable to you than the others.

    Welcome bonuses and issuer-specific perks, such as cell phone protection or fraud protection, could be benefits that sway your decision.


    Clark Howard’s Credit Card Strategy

    Money expert Clark Howard believes it is important to have a credit card for the purposes of building and maintaining a solid credit history so you’ll have it when big life events, like a home purchase or job application, require a credit check.

    He also believes that focusing on a rewards credit card — like a good cash back credit card — should be something you consider only if you plan to pay your balance in full each month. If that’s not your plan, Clark would point you to the credit card with the lowest possible interest rate or advise you to avoid a credit card altogether.

    Assuming you’re here because you are in search of the maximum benefits from your cash back credit card decision, Clark strongly suggests that you start with an unlimited 2% cash back card to assure that you get a solid rewards return on every purchase you make.

    There are cards that offer higher rates of return, but they’re usually restricted to categorical spending and may have rewards caps.

    “Really think through your charge patterns and whether or not those rewards really give you a bang for your buck.”

    Clark, for example, carries the Costco Anywhere Visa card in his wallet because he’s a frequent Costco shopper.

    But he does so knowing he also has the Citi Double Cash card to get him 2% back on all of his non-Costco purchases.


    Methodology

    For the purposes of determining which cards are “best” in this category, we took input from Clark and sought to find cards that best fit his credit card strategy.

    Team Clark spent many hours reviewing the available cash back credit cards on the market, assessing them for:

    • Annual fees
    • Welcome bonuses
    • Introductory APR periods
    • Spending categories for maximum cash back earnings
    • Additional fees (transaction or otherwise)
    • Perks offered to cardholders

    We did not factor in non-introductory APR as a part of the evaluation, because interest rates will vary based on your individual financial circumstance. Clark recommends not carrying a balance on these cards, so that should curb any concern over the interest rate.

    We also did not include offerings from local or regional banks and credit unions, because they’re not available to everyone. Often, local institutions will have desirable cards, so I do recommend that you compare your local bank or credit union’s cash back credit cards to the ones that made this list.


    Final Thoughts

    Have I talked you into adding a 2% card to your wallet yet?

    If you’re still on the fence, here are some pros and cons to consider:

    Pros and Consfor Getting a 2% Cash Back Card

    ProsCons
    Certain, steady rewardsWelcome bonuses are rare
    No spending caps or category limitsAPR on the cards may be high
    Usually come with no annual feeNo high-return rewards like rotating 5% cards or category bonus cards

    Bottom Line

    Whether you’re looking for your first credit card or are an experienced spender, there’s a spot in most everyone’s wallet for a 2% cash back card.

    New credit card users can take advantage of the steady rewards plans to make sure they’re getting a solid reward for all of their spending.

    More experienced credit card users can use the 2% card as a safety net to ensure that their rewards never dip below the 2% threshold.


    More Clark.com Content You May Like:

    Источник: https://clark.com/credit-cards/2-percent-cash-back-cards/
    a hand holding a fan of credit cards overlaid on a poker table with chips in the background

    STEPHANIE SHAFER

    En español

    A year after the COVID crunch led credit card issuers to cut down on deals, sweet introductory offers are back on the table. If you’re looking to grab some cash rewards or burn a balance, you need not stick with your old cards.​

    You can maximize rewards by using several cards and dedicating each to its best purposes. How many cards? Three or four at most. You don’t want so many that you lose track of the bills; forgetting just one payment can unleash enough penalties and interest to wipe out a year of rewards.​

    And don’t even think about playing the rewards-card game if you carry a balance from month to month. Chasing after 2 percent cash back is a losing proposition if you’re paying 16 percent interest on past purchases. Instead, focus on getting your balance to zero.​ With that out of the way, here are some appealing cards for different types of users. (Note that offers like sign-up bonuses and balance transfer deals can change at any time.)​

    ​Everyday users​

    If you pay off your cards every month, use one that earns rewards, says Sara Rathner, a credit card specialist at the personal finance site NerdWallet: “Otherwise, you are leaving money on the table.” One of her current favorites? The American Express Blue Cash Preferred Card offers 6 percent cash rewards on groceries (up to $6,000 in annual spending), 3 percent on gas or transit, 6 percent on streaming services and 1 percent on everything else. The $95 annual fee is waived in the first year. You get a $350 bonus if you spend $3,000 in the first six months.

    For a one-size-fits-all approach, Matt Schulz, chief credit analyst with LendingTree, recommends the Wells Fargo Active Cash Card, which has no annual fee, offers 2 percent back on all purchases and has a $200 bonus if you spend $1,000 in the first three months. 

    ​Busy travelers​

    I’m not a huge fan of travel rewards cards, because their point systems can be confusing and the rewards can shift as the underlying airline or hotel programs change terms. “A lot of the time, the better choice is a cash-back card,” concedes Schulz. But he carries rewards cards for the hotels and airlines he uses most, in part to get priority boarding. A good travel rewards card will also offer fee-free currency conversions on purchases made abroad. ​


    Источник: https://www.aarp.org/money/credit-loans-debt/info-2022/new-credit-card-offers.html

    Cashback reward program

    A cashback reward program is an incentive program operated by credit card companies where a percentage of the amount spent is paid back to the card holder. Many credit card issuers, particularly those in the United Kingdom, Canada and United States, run programs to encourage use of the card where the card holder is given points, frequent flyer miles or a monetary amount. This last benefit, a monetary amount, is usually known as cashback or cash back reward.

    Details[edit]

    Where a card issuer operates such a program, card holders typically receive between 0.5% and 3% of their net expenditure (purchases minus refunds) as an annual rebate, which is either credited to the credit card account or paid to the card holder separately.[1]

    When accepting payment by credit card, merchants typically pay a percentage of the transaction amount in commission to their bank or merchant services provider. Merchants are often not allowed to charge a higher price when a credit card is used as opposed to other methods of payment, so there is no penalty for a card holder to use their credit card. The credit card issuer is sharing some of this commission with the card holder to incentivise them to use the credit card when making a payment.

    Rewards based credit card products like cash back are more beneficial to consumers who pay their credit card statement off every month. Rewards based products generally have higher Annual percentage rate. If the balance were not paid in full every month the extra interest would eclipse any rewards earned. Most consumers do not know that their rewards-based credit cards charge higher "interchange" fees to the vendors who accept them.[2]

    History[edit]

    In the 1990s, major card issuers in the US raised the cash-back percentage up to 5%. The 5% cash back rate usually applies only to purchases made at grocery stores, pharmacies, and gas stations for 6 months.[citation needed] This high rate of cash back was set to grab the attention of potential applicants for them to consider applying for the card. Typically the cash back rate for all other purchases is around 1%.[citation needed]

    A 2010 public policy study conducted by the Federal Reserve concluded cash back reward programs result in a monetary transfer from low-income to high-income households. Eliminating cash back reward programs would reduce merchant fees which would in turn reduce consumer prices because retail is such a competitive environment.[3]

    In 2012 in the United States, due to increased gasoline (gas) prices, gas cash back cards or gas rebate credit cards became very popular among consumers. Companies provide an average of 3% APR on new gas credit cards. The main idea behind gasoline discount cards is that cardholders obtain a sure percent of the sum they consume on gasoline each month in the form of a rebate check at the end of the year. It works similarly to a cashback discount recognition card with one noteworthy exception: the gasoline discount is frequently applied each month, whereas most cashback cards ship away discount checks formerly a year.[citation needed] This makes the savings easier to view for most consumers.

    See also[edit]

    References[edit]

    Источник: https://en.wikipedia.org/wiki/Cashback_reward_program

    The Best Cash Back Credit Cards


    This post contains references to products from our advertisers. We may receive compensation when you click on links to those products. The content is not provided by the advertiser and any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any bank, card issuer, airline or hotel chain. Please visit our Advertiser Disclosure to view our partners, and for additional details.

    Many people prefer cash back rewards to other credit card perks such as frequent flyer miles. Cash rewards programs are simple to understand and easy to redeem. Unlike points and miles, cash can earn interest when unused and its value is not subject to the constantly changing terms and conditions of credit card issuers and travel programs. (See also: How Cash Rewards Credit Cards Really Work)

    My family is a perfect example of how you can use credit cards to receive cash back. Using our cards for day-to-day purchases, we may spend as much as $2,500 on them each month. When we are not looking for travel rewards, we use cash back cards that return between 1%-6% on our everyday purchases in order to earn an additional $80 a month in cash back. That equals a return of $960 each year that we can add to our discretionary spending or apply to our savings.

    Just one word of caution — cash back credit cards should only be used by people who can pay their credit card balances in full and on time. To do otherwise virtually ensures that you will owe more in interest and penalties than you will ever receive as cash back.  

    The Top Credit Cards Featuring Cash Back Rewards

    Once you have decided to earn credit card rewards in the form of cash back, you should definitely consider my favorite cash back rewards credit cards.

    Bank of America® Customized Cash Rewards credit card

    The Bank of America® Customized Cash Rewards credit card offers 2% back at grocery stores and wholesale clubs, 3% back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement /furnishings, and 1% on other purchases. (Grocery store, wholesale club, and choice category bonus rewards apply to the first $2,500 in combined purchases in these categories each quarter, then purchases receive 1% cash back.) Change your category up to once a month, depending on your spending. There is no annual fee.

    Bonus offer: $200 online cash rewards bonus after you spend at least $1,000 in purchases in the first 90 days of account opening. 

    Click here to learn more and apply for the Bank of America® Customized Cash Rewards credit card today!

    Blue Cash Preferred® Card from American Express

    The Blue Cash Preferred® Card from American Express offers the highest cash back you can get for groceries. Earn 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, 1% after that), as well as 6% on select U.S. streaming services. 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more). There is a $0 intro annual fee for the first year, then $95. See Rates & Fees.

    Welcome offer: Earn a $300 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months. Terms apply. 

    Click here to learn more and apply for the Blue Cash Preferred® Card from American Express today!

    While not as exciting as redeeming rewards for travel, the value in getting cold, hard cash is not to be underestimated. There's no value in collecting travel rewards if you don't end up using them. With cash rewards, you know you'll always be able to use your points. Start collecting your cash rewards today!

    For rates and fees of the Blue Cash Preferred® Card from American Express, please click here.

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    Tagged: Credit Cards, Extra Income, best credit cards, cash back rewards, credit card rewards

    Источник: https://www.wisebread.com/5-best-cash-back-credit-cards

    Best Cash Back Credit Cards of January 2022

    Money

    This winter, take a look at these cash back credit cards offering some of the most lucrative rewards rates and signup bonuses without charging exorbitant fees. If you can’t seem to settle on a cash back card for your wallet, any of the cards on this list can help guide your decision.

    • Wells Fargo Active Cash Card: Best for Flat-Rate Rewards

    • Blue Cash Preferred® Card from American Express: Best for Bonus Rewards

    • Discover it® Miles: Best for First-Year Rewards

    • Chase Freedom Flex: Best Cash Back Card with Rotating Categories

    • Capital One QuicksilverOne Cash Rewards Credit Card: Best for Fair Credit

    • Capital One Savor Cash Rewards Credit Card: Best for Dining and Entertainment

    Best Cash Back Card for Flat-Rate Rewards: Wells Fargo Active Cash Card

    The Wells Fargo Active Cash Card helps you maximize the cash back you earn by offering a great flat-rate cash back on all purchases, all of the time.

    Pros:

    • Earn up to 2% cash rewards on all purchases.

    • Earn $200 cash rewards bonus after spending $1,000 in purchases within first three months of account opening.

    • 15 months of 0% intro APR financing on both new purchases and qualifying balance transfers

    • No annual fee

    Cons:

    • 3% foreign transaction fee

    The Wells Fargo Active Cash Card offers 2% cash rewards every time you make a purchase, with no limits, categories or gimmicks. These cash back rewards apply to all purchases and there’s no limit on the amount of cash back you can earn.

    This card also offers you a $200 new account bonus after spending $1,000 in purchases within three months of account opening. You also get 15 months of 0% intro APR on new purchases and balance transfers (after that the standard APR applies) with a 3% balance transfer fee (or $5, whichever is greater). Balance transfers must be completed within the first 120 days of account opening to receive the introductory offer. There’s also no annual fee for this card.

    Best Cash Back Credit Card for Bonus Rewards: American Express Blue Cash Preferred® Card

    When it comes to earning up to $350 of cash back on purchases you make the most, this card can’t be beat.

    Pros:

    • 6% cash back at U.S. supermarkets and on select U.S. streaming subscriptions.

    • Unlimited 3% cash back at U.S. gas stations and on transit.

    • $350 welcome bonus after you spend $3,000 in first 6 months of card membership.

    • 12 months of 0% intro APR on new purchases.

    Cons:

    • $95 annual fee, waived the first year.

    • 6% cash back at U.S supermarkets is limited to your first $6,000 spent each calendar year (then 1%).

    There are the highest paying cash back credit card lot of bonus cash back options to get excited about with this card. First, there’s the whopping 6% cash back you receive on up to $6,000 spent at U.S. supermarkets each year. You also receive 6% back on select U.S. streaming subscriptions and 3% back on transit and at U.S. gas stations. You’ll also earn 1% cash back on all other purchases. This gives you the chance to earn up to $400 in cash back each year on groceries alone.

    Earn $350 back after you spend $3,000 in purchases on the Card within the first 6 months of Card Membership (received in the form of statement credits). You’ll also enjoy 12 months of 0% intro APR financing on new purchases (after that the standard APR applies). All of these opportunities to earn cash back make it well worth the card’s $95 annual fee, which is currently waived the first year.

    See Rates & Fees.Terms apply*

    Best for First Year Rewards: Discover it® Miles

    The Discover it Miles Card offers 1.5 miles per dollar spent and miles are worth one cent each towards cash back. Plus, Discover will match your miles after your first year to give you a total of three miles per dollar, worth 3% of your spending as cash back.

    Pros:

    • Earn 1.5x Miles for every dollar spent, with no limits.

    • Earn a rewards match during your account’s first year.

    • 0% Intro APR for 14 months on purchases.

    • Redeem reward miles for travel statement credits or cash back.

    • Strong customer service.

    • No annual fee and no foreign transaction fees.

    Cons:

    • The Discover card offers few cardholder benefits.

    • No sign-up bonus.

    The Discover it Miles Card can either be used as a cash back card or a travel rewards card since you can redeem your Miles for cash back or travel. You’ll receive unlimited 1.5x Miles per dollar spent on all purchases and Discover will match the miles you’ve earned at the end of your account’s first year. This gives you an amazing 3% cash back on all purchases made during your first year.

    New cardholders will receive 14 months of 0% intro APR on purchases and a lowered intro balance transfer rate of 10.99% APR for the first 14 months (after that the ongoing rate applies). Discover is also well known for its excellent customer service and has very friendly policies such as no penalty interest rate, automatically waiving your first late payment fee and no annual fee or foreign transaction fees.

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    Best Cash Back Card with Rotating Bonus Categories: Chase Freedom FlexSM

    This new version of the popular Chase Freedom Card (no longer offered) now offers valuable permanent bonus categories on top of it’s 5% quarterly bonuses.

    Pros:

    • Earn a $200 bonus after spending $500 on purchases within first three months of account opening. You also receive 5% back at gas stations, for up to $6,000 spent in your account’s first year.

    • Earn 5% cash back in merchant categories that change each quarter (up to $1,500 per quarter), and 5% cash back on travel when purchased through Chase Ultimate Rewards.

    • Earn 3% cash back on dining at restaurants and drugstores.

    • New boh com sign in receive 15 months of 0% intro APR financing on new purchases.

    Cons:

    • 3% foreign transaction fee.

    • This card is part of the Mastercard payment network, so it isn’t accepted at Costco.

    The Chase Freedom has long been famous for offering 5% cash back on purchases from featured merchants or categories of merchants. This is still offered, however, the new Freedom Flex also features 5% cash back on travel when purchased through Chase Ultimate Reward, plus 3% cash back on dining at restaurants (including takeout and eligible delivery services), and 3% cash back on drugstore purchases. You also earn 1% cash back on all other purchases and there’s no annual fee.

    Best for Fair Credit: Capital One QuicksilverOne Cash Rewards Credit Card

    Just because you don’t have perfect credit doesn’t mean you can’t earn valuable cash back. The Capital One QuicksilverOne is the perfect card for those with good – fair credit that want to earn rewards on their purchases.

    Pros:

    • Earn unlimited 1.5% cash back on all purchases.

    • Available to applicants with average credit.

    • Automatic account review for higher credit line after making your first six on-time payments.

    • No foreign transaction fees.

    Cons:

    • $39 annual fee.

    • Relatively high standard APR.

    The QuicksilverOne Card from Capital One allows you to earn 1.5% cash back on all purchases with no limits. This is a competitive rate for a cash back card, but what makes it so unique is that it’s available to people with less than perfect credit. As long as you have fair credit, you’ll have a good chance of qualifying for this card.

    Cardholders will enjoy earning cash back on all purchases, just the highest paying cash back credit card your friends with excellent credit. This card has a $39 annual fee, but no foreign transaction fees.

    Best for Dining and Entertainment: Capital One Savor Cash Rewards Credit Card

    Even if you’re only ordering takeout and delivery, you can still earn great cash back on your dining and entertainment purchases.

    Pros:

    • 4% cash back on dining, entertainment and select streaming services, and 3% at grocery stores.

    • One-time $300 cash bonus after spending $3,000 within three months of account opening.

    • Redeem rewards with Amazon.com or PayPal.

    • Cardholders receive access to premium experiences like VIP tickets and 5-star meals.

    Cons:

    • $95 annual fee.

    • Earn only 1% cash back on most purchases.

    With the Capital One Savor Rewards Card, you can earn 4% cash back on dining (includes restaurants, takeout and delivery) and entertainment purchases, plus 4% on popular streaming services. Grocery store purchases will earn 3% cash back and all other purchases will earn 1% cash back.

    New applicants can earn a $300 cash back bonus after using your card to spend $3,000 within three months of account opening. There’s a $95 annual fee for this card, and no foreign transaction fees.

    Frequently asked questions about cash back credit cards

    Q. Do cash back credit cards charge an annual fee? Most do not. However, you may want to consider getting a card with an annual fee as the additional rewards make up for it. Cards designed for those without excellent credit, like the Capital One Savor, will often have an annual fee.

    Q. Do cash back credit cards have low interest rates? Cash back rewards cards will typically have higher standard interest rates than similar cards that don’t offer rewards. So if you’re expecting to carry a balance, then you should look for a low interest rate card that doesn’t offer rewards. However, if you have excellent credit, you should expect to receive an interest rate that’s at or below the national average of about 15% APR.

    Q. Do cash back credit cards come with 0% APR introductory financing offers? Yes, several cash back credit cards offer 0% APR introductory financing. These offers can be valid for new purchases, balance transfers or both.

    Q. How can you redeem your cash back rewards? Each cash back credit card varies. Some cash back credit cards only let you redeem points for statement credits, while others will directly deposit cash into your bank account. Many also give you the option to redeem your rewards for gift cards, cash back, travel or merchandise.

    Q. Do most cash back credit cards require very good or excellent credit? To qualify for the best cards, you typically need a credit score of 740 or higher. However, there are some cards that you can be approved for with fair or good credit. Consider the Discover it card as well as the QuicksilverOne Card from Capital One if your credit isn’t excellent.

    How we chose the best cash back cards

    To find the best cash back cards, we first divided the market into the six most popular types of cards. Then we looked at the cash back credit cards offered by all of the major card issuers. Each of their cash back credit card offers were examined and compared to other cash back cards. We looked at not just the rates of cash back offered, but other factors such as limits to the amount of cash back you could receive, fees charged and cardholder benefits provided.

    More from MONEY:

    The Best Credit Cards

    Best Balance Transfer Credit Cards

    How to Build Credit Fast and Earn a Good Credit Score

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    Axis Bank Credit Card

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    Источник: https://www.axisbank.com/retail/cards/credit-card

    Are you trying to get the best cash back rewards for your credit card purchases?

    Money expert Clark Howard has long recommended an unlimited 2% cash back credit card with no annual fee as the everyday credit card for your wallet.

    “My favorite reward cards are ones that actually pay you money. I want cash, because nobody can tell you when you can or can’t spend your cash,” Clark says.

    Clark has a Citi Double Cash in his wallet that earns 2% on all purchases.

    And since 2% is generally accepted as the top non-promotional rate of return for cards that don’t charge the highest paying cash back credit card fees or restrict purchase categories, I’ve decided to take a closer look at this segment of the cash back credit card market.

    For this article, Team Clark reviewed cash back credit cards both for the strength of their rewards programs and other perks, in search of the best deal for your wallet.


    Table of Contents


    What Is a 2% Cash Back Credit Card?

    Since this whole article is about the merits of a 2% cash back card in your wallet, it would make sense that I first define that kind of card.

    2% back credit cards reward your purchases made with the card by giving you $0.02 back as a reward for every $1 that you spend. Many times these cards come with no annual fee and include some non-rewards related perks.

    Think of 2% back cards as a subcategory within the cash back credit card category. Those, of course, are a subcategory of their own in the overall scheme of the credit card market.

    Maybe it would help to visualize these as a set of subfolders on your computer:

    In this article, I’m getting extremely precise to help you pick between the cards that would be stashed in that 2% back credit cards folder at the bottom.

    For a more detailed description of our process for analyzing the cards for this review, you can read our methodology.


    Best 2% Cash Back Credit Cards


    Citi® Double Cash Card: Best for Everyday Purchases

    Citi Double Cash Card - Citi's Best Cash Back Credit Card

    What To Know About This Card

    • Annual Fee: $0
    • Rewards Program Highlights: Earn unlimited 2% cash back on purchases (1% when you buy, 1% when you pay your bill).
    • Introductory Offers: 0% APR on balance transfers for the first 18 months of card membership
    • Top Perks: $0 fraud liability and access to the Citi Entertainment portal
    • Team Clark Card Review

    Why We Like It: It’s incredibly simple. There are no limits to the amount of 2% cash back you can earn with this card, so you can spend it anywhere Mastercard is accepted and know exactly what you’ll get in rewards each time. This no-annual-fee card is in Clark’s wallet, so it has his stamp of approval.


    PayPal Cashback Mastercard: Best for Online Shopping

    PayPal Cashback Mastercard

    What To Know About This Card

    • Annual Fee: $0
    • Rewards Program Highlights: Unlimited 2% cash back on all purchases accessible through an active PayPal account
    • Introductory Offers: There is no introductory 0% APR and there’s no standard welcome bonus, but PayPal does send targeted offers to attract new card users. For example, I’ve seen promotional periods of increased cash back, such as 4% back for your first three months.
    • Top Perks: Identity Theft Protection program and microchipped technology for touchless on-the-go payment methods.
    • Team Clark Card Review

    Why We Like It: There’s no minimum balance required to claim your rewards from PayPal, so this one is really easy to use for those who already frequently use PayPal for online transactions.


    Fidelity Rewards Visa: Best for Investing Rewards

    What To Know About This Card

    • Annual Fee: None
    • Rewards Program Highlights: Unlimited 2% cash back awarded as $50 credit to your Fidelity account for every $2,500 in spending
    • Top Perks: No rewards cap, limits or expiration, and flexibility to redeem for travel, merchandise, gift cards or statement credit
    • Team Clark Card Review

    Why We Like It: Much like the Citi Double Cash, this card offers a simple and straightforward path to 2% cash back on every dollar you spend. And since we’re big proponents of making sure you stay on top of your retirement savings, having this reward dump straight into your Fidelity investment account is a stress-free way to add to your long-term savings. This card is on our list of best credit cards for savings and investments.


    SoFi Credit Card: Best for Paying Down Debt

    Sofi Credit Card

    What To Know About This Card

    • Annual Fee: $0
    • Rewards Program Highlights: You can earn points that are worth 2% cash back on every purchase you make, provided that you use the points on a SoFi product (loans, investment accounts, etc.). You can use the reward points for other things, such as a statement credit, but the value dips below 2%.
    • Introductory Offers: The card does not have a promotional APR period, but welcome bonus offers do pop up occasionally. For example, the card recently had a promotion that offered new users $100 worth of reward points for making their first purchase.
    • Top Perks: 12 consecutive on-time payments will result in triwest phone number for veterans interest rate reduction of up to 1%. You can also get cell phone protection by paying your wireless bill with this card.
    • Team Clark Card Review

    Why We Like It: If you’re someone who is already plugged into the SoFi product the highest paying cash back credit card with a loan or investing, this card is an easy way to get 2% toward something that could be important to your financial life.

    SoFi is an increasingly popular student loan and personal loan distributor, so this could be a chance for many to accelerate the elimination of that debt — provided you are spending responsibly with the card and paying the balance in full each month, of course.


    Fifth Third Preferred: Best for Cell Phone Protection

    Fifth Third Preferred Cash/Back Credit Card

    What To Know About This Card

    • Annual Fee: $0
    • Rewards Program Highlights: Unlimited 2% cash back with no categorical restrictions or spending caps. You get this in the form of rewards points, which can be converted to cash, statement credit or other benefits.
    • Introductory Offers: There are no welcome bonuses or introductory APR periods for this card.
    • Top Perks: Cell phone protection plan and no foreign transaction fees
    • Team Clark Card Review

    Why We Like It: This card is a really strong 2% back option for Fifth Third customers. You must have a qualified banking account with them to qualify the highest paying cash back credit card this card.

    But when you do, you can get coverage for a lost or damaged cell phone as long as you pay your wireless bill with this credit card each month. You can receive up to $800 per claim, but there is a $50 deductible and a $1,000 yearly limit to the benefit.


    TD Bank Double Up Card: Best for Welcome Bonus Perks

    TD Double Up Credit Card

    What To Know Lol dolls com This Card

    • Annual Fee: $0
    • Rewards Program Highlights: Earn 1% cash back on purchases, plus earn 1% cash back when you redeem into an eligible TD Bank Deposit Account. No spending caps or category restrictions.
    • Introductory Offers: 0% APR on balance transfer for 15 months, plus earn $75 cash back in the form of a statement credit when you spend $500 within the first 90 days after opening the account.
    • Top Perks: Zero fraud liability guarantee and digital wallet accessibility
    • Team Clark Card Review

    Why We Like It: This is one of the rare 2% cards that offers both a welcome bonus and an introductory 0% APR period.

    Those are temporary benefits, but if you already have a TD Bank account, the cash back returns on this card match any on the list.


    Wells Fargo Active Cash: Best for 0% APR Periods

    What To Know About This Card

    • Annual Fee: $0
    • Rewards Program Highlights: Earn 2% cash back on purchases. No spending caps or category restrictions. The cash back can be redeemed as cash, account credits or points to be used on gift cards or travel.
    • Introductory Offers: 0% APR on new purchases and balance transfer for 15 months (after that the variable APR will be 14.99% to 24.99%), plus earn a $200 cash rewards bonus the highest paying cash back credit card you spend $1,000 within the first 3 months.
    • Top Perks: Cell phone protection coverage included.
    • Team Clark Card Review

    Why We Like It: This is another one of the rare 2% cards that offer both a welcome bonus and an introductory 0% APR period. This one has 0% periods on new purchases and balance transfers.

    When you throw in the cell phone protection, this is one of the more tempting 2% cards.


    Comparison Chart

    Here are some of the defining characteristics of the 2% cards detailed above:

    Card CharacteristicCiti Double CashPayPal Cashback MastercardFidelity Rewards Visa SignatureSoFi Credit CardFifth Third PreferredTD Bank Double UpWells Fargo Active Tj good morning america FeeNoneNoneNoneNoneNoneNoneNone
    Cash Back RateUnlimited 2% (1% when you buy, 1% when you pay your bill)Unlimited 2%Unlimited 2%Unlimited 2%Unlimited 2%Unlimited 2% (1% when you buy, 1% when you redeem in TD Bank account)Unlimited 2%
    Cash Back Redemption OptionsCheck, statement credit or credit for linked Citi bank accountPayPal balance creditInvestment account credit, travel, merchandise, gift cards, statement creditMust use toward qualified SoFi product for full value, drops to 1% as statement creditCheck, statement credit, credit for a connected Fifth Third account or loanMust deposit rewards into TD Bank account to receive full 2%, value drops to 1% otherwiseCheck, Wells Fargo account credit, travel, gift cards
    Welcome BonusNoneNoneNoneNoneNone$75 if you spend $500 or more within the first 3 months$200 if you spend $1,000 within the first 3 months
    Foreign Transaction Fee3% in U.S. dollars per transactionNone1%NoneNone3% in U.S. dollars per transaction3% in U.S. dollars per transaction
    Cell Phone ProtectionNoNoNoYesYesNoYes

    Things To Look For When Picking a 2% Cash Back Credit Card

    Still not sure which 2% card is best for you? the highest paying cash back credit card may find that using the comparison chart above to answer some of the following questions is helpful in finding the right fit for your wallet.

    1. Are There Category or Spending Limits?

    We tried to a good job of weeding out all the cards that require you spend your money a certain way in order to receive the 2% benefits.

    But if you bankmobile refund outside this review, you may come across some cards that apply one or both of these restrictions to your rewards.

    A couple of cards you may find that require spending a certain way to receive 2% rewards are the Apple Card (must use Apple Pay to get 2%) and the Spark Cash for Business from Capital One (must be the highest paying cash back credit card small business owner).

    2. What Are the Cash Back Redemption Methods?

    Clark likes the Double Cash card because the redemption policy makes it easy for him to convert his rewards into cash.

    As you can see on the comparison chart, that’s not always the case. Some cards require you to invest your rewards with their company or spend it on their products in order to receive the full 2%.

    If you’re funding a retirement account or paying off a student loan with your rewards, that’s no issue. But if you need flexibility with your rewards, it may be a deal breaker.

    3. What Do the Fees Look Like?

    You won’t find any cards with annual fees on this list because it was important to Clark that we offer options for 2% back without worrying about an annual fee cutting into your returns.

    But just because we avoided annual fees doesn’t mean you can forgo analyzing fees altogether.

    Each card has fees for things like balance transfers, cash advances, late payments or returned payments. If you’re paying your bills on time and not using the card for anything but new purchases, this should go pretty low on your list of priorities.

    4. Are There Other Perks That Make This Card Worthwhile?

    Do you need a 0% APR period on balance transfers to bring an existing balance over and pay off debt? There are a couple of cards on this list that you could use for that purpose first and then keep as an everyday spending card.

    That’s just one example of a perk that could make one of these cards more valuable to you than the others.

    Welcome bonuses and issuer-specific perks, such as cell phone protection or fraud protection, could be benefits that sway your decision.


    Clark Howard’s Credit Card Strategy

    Money expert Clark Howard believes it is important to have a credit card for the purposes of building and maintaining a solid credit history so you’ll have it when big life events, like a home purchase or job application, require a credit check.

    He also believes that focusing on a rewards credit card — like a good cash back credit card — should be something you consider only if you plan to pay your balance in full each month. If that’s not your plan, Clark would point you to the credit card with the lowest possible interest rate or advise you to avoid a credit card altogether.

    Assuming you’re here because you are in search of the maximum benefits from your cash back credit card decision, Clark strongly suggests that you start with an unlimited 2% cash back card to assure that you get a solid rewards return on every purchase you make.

    There are cards that offer higher rates of return, but they’re usually restricted to categorical spending and may have rewards caps.

    “Really think through your charge patterns and whether or not those rewards really give you a bang for your buck.”

    Clark, for example, carries the Costco Anywhere Visa card in his wallet because he’s a frequent Costco shopper.

    But he does so knowing he also has the Citi Double Cash card to get him 2% back on all of his non-Costco purchases.


    Methodology

    For the purposes of determining which cards are “best” in this category, we took input from Clark and sought to find cards that best fit his credit card strategy.

    Team Clark spent many hours reviewing the available cash back credit cards on the market, assessing them for:

    • Annual fees
    • Welcome bonuses
    • Introductory APR periods
    • Spending categories for maximum cash back earnings
    • Additional fees (transaction or otherwise)
    • Perks offered to cardholders

    We did not factor in non-introductory APR as a part of the evaluation, because interest rates will vary based on your individual financial circumstance. Clark recommends not carrying a balance on these cards, so that should curb any concern over the interest rate.

    We also did not include offerings from local or regional banks and credit unions, because they’re not available to everyone. Often, local institutions will have desirable cards, so I do recommend that the highest paying cash back credit card compare your local bank or credit union’s cash back credit cards to the ones that made this list.


    Final Thoughts

    Have I talked you into adding a 2% card to your wallet yet?

    If you’re still on the fence, here are some pros and cons to consider:

    Pros and Consfor Getting a 2% Cash Back Card

    ProsCons
    Certain, steady rewardsWelcome bonuses are rare
    No spending caps or category limitsAPR on the cards may be high
    Usually come with no annual feeNo high-return rewards like rotating 5% cards or category bonus cards

    Bottom Line

    Whether you’re looking for your first credit card or are an experienced spender, there’s a spot in most everyone’s wallet for a 2% cash back card.

    New credit card users can take advantage of the steady rewards plans to make sure they’re getting a solid reward for all of their spending.

    More experienced credit card users can use the 2% card as a safety net to ensure that their rewards never dip below the 2% threshold.


    More Clark.com Content You May Like:

    Источник: https://clark.com/credit-cards/2-percent-cash-back-cards/

    The Best Cash Back Credit Cards


    This post contains references to products from our advertisers. We may receive compensation when you click on links to those products. The content is not provided by the advertiser and any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any bank, card issuer, airline or hotel chain. Please visit our Advertiser Disclosure to view our partners, and for additional details.

    Many people prefer cash back rewards to other credit card perks such as frequent flyer miles. Cash rewards programs are simple to understand and easy to redeem. Unlike points and miles, cash can earn interest when unused and its value is not subject to the constantly changing terms and conditions of credit card issuers and travel programs. (See also: How Cash Rewards Credit Cards Really Work)

    My family is a perfect example of how you can use credit cards to receive the highest paying cash back credit card back. Using our cards for day-to-day purchases, we may spend as much as $2,500 on them each month. When we are not looking for travel rewards, we use cash back cards that return between 1%-6% on our everyday purchases in order to earn an additional $80 a month in cash back. That equals a return of $960 each year that we can add to our discretionary spending or apply to our savings.

    Just one word of caution — cash back credit cards should only be used by people who can pay their credit card balances in full and on time. To do otherwise virtually ensures that you will owe more in interest and penalties than you will ever receive as cash back.  

    The Top Credit Cards Featuring Cash Back Rewards

    Once you have decided to earn credit card rewards in the form of cash back, you should definitely consider my favorite cash back rewards credit cards.

    Bank of America® Customized Cash Rewards credit card

    The Bank of America® Customized Cash Rewards credit card offers 2% back at grocery stores and wholesale clubs, 3% back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement /furnishings, and 1% on other purchases. (Grocery store, wholesale club, and choice category bonus rewards apply to the first $2,500 in combined purchases in these categories each quarter, then purchases receive 1% cash back.) Change your category up to once a month, depending on your spending. There is no annual fee.

    Bonus offer: $200 online cash rewards bonus after you spend at least $1,000 in purchases in the first 90 days of account opening. 

    Click here to learn more and apply for the Bank of America® Customized Cash Rewards credit card today!

    Blue Cash Preferred® Card from American Express

    The Blue Cash Preferred® Card from American Express offers the highest cash back you can get for groceries. Earn 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, 1% after that), as well as 6% on select U.S. streaming services. 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more). There is a $0 intro annual fee for the first year, then $95. See Rates & Fees.

    Welcome offer: Earn a $300 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months. Terms apply. 

    Click here to learn more and apply for the Blue Cash Preferred® Card from American Express today!

    While not as exciting as redeeming rewards for travel, the value in getting cold, hard cash is not to be underestimated. There's no value in collecting travel rewards if you don't end up using them. With cash rewards, you know you'll always be able to use your points. Start collecting your cash rewards today!

    For rates and fees of the Blue Cash Preferred® Card from American Express, please click here.

    Like this article? Pin it! 

     

    Tagged: Credit Cards, Extra Income, best credit cards, cash back rewards, credit card rewards

    Источник: https://www.wisebread.com/5-best-cash-back-credit-cards
    a hand holding a fan of credit cards overlaid on a poker table with chips in the background

    STEPHANIE SHAFER

    En español

    A year after the COVID crunch led credit card issuers to cut down on deals, sweet introductory offers are back on the table. If you’re looking to grab some cash rewards or burn a balance, you need not stick with your old cards.​

    You can maximize rewards by using several cards and dedicating each to its best purposes. How many cards? Three or four at most. You don’t want so many that you lose track of the bills; forgetting just one payment can unleash enough penalties and interest to wipe out a year of rewards.​

    And don’t even think about playing the rewards-card game if you carry a balance from month to month. Chasing after 2 percent cash back is a losing proposition if you’re paying 16 percent interest on past purchases. Instead, focus on getting your balance to zero.​ With that out of the way, here are some appealing cards for different types of users. (Note that offers like sign-up bonuses and balance transfer deals can change at any time.)​

    ​Everyday users​

    If you pay off your cards every month, use one that earns rewards, says Sara Rathner, a credit card specialist at the personal finance site NerdWallet: “Otherwise, you are leaving money on the table.” One of her current favorites? The American Express Blue Cash Preferred Card offers 6 percent cash rewards on groceries (up to $6,000 in annual spending), 3 percent on gas or transit, 6 percent on streaming services and 1 percent on everything else. The $95 annual fee is waived in the first year. You get a $350 bonus if you spend $3,000 in the first six months.

    For a one-size-fits-all approach, Matt Schulz, chief credit analyst with LendingTree, recommends the Wells Fargo Active Cash Card, which has no annual fee, offers 2 percent back on all purchases and has a $200 bonus if you spend $1,000 in the first three months. 

    ​Busy travelers​

    I’m not a huge fan of travel rewards cards, because their point systems can be confusing and the rewards can shift as the underlying airline or hotel programs change terms. “A lot of the time, the better choice is a cash-back card,” concedes Schulz. But he carries rewards cards for the hotels and airlines he uses most, in part to get priority boarding. A good travel rewards card will also offer fee-free currency conversions on purchases made abroad. ​


    Источник: https://www.aarp.org/money/credit-loans-debt/info-2022/new-credit-card-offers.html

    The highest paying cash back credit card -

    The Best Cash Back Credit Cards


    This post contains references to products from our advertisers. We may receive compensation when you click on links to those products. The content is not provided by the advertiser and any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any bank, card issuer, airline or hotel chain. Please visit our Advertiser Disclosure to view our partners, and for additional details.

    Many people prefer cash back rewards to other credit card perks such as frequent flyer miles. Cash rewards programs are simple to understand and easy to redeem. Unlike points and miles, cash can earn interest when unused and its value is not subject to the constantly changing terms and conditions of credit card issuers and travel programs. (See also: How Cash Rewards Credit Cards Really Work)

    My family is a perfect example of how you can use credit cards to receive cash back. Using our cards for day-to-day purchases, we may spend as much as $2,500 on them each month. When we are not looking for travel rewards, we use cash back cards that return between 1%-6% on our everyday purchases in order to earn an additional $80 a month in cash back. That equals a return of $960 each year that we can add to our discretionary spending or apply to our savings.

    Just one word of caution — cash back credit cards should only be used by people who can pay their credit card balances in full and on time. To do otherwise virtually ensures that you will owe more in interest and penalties than you will ever receive as cash back.  

    The Top Credit Cards Featuring Cash Back Rewards

    Once you have decided to earn credit card rewards in the form of cash back, you should definitely consider my favorite cash back rewards credit cards.

    Bank of America® Customized Cash Rewards credit card

    The Bank of America® Customized Cash Rewards credit card offers 2% back at grocery stores and wholesale clubs, 3% back in the category of your choice: gas, online shopping, dining, travel, drug stores, or home improvement /furnishings, and 1% on other purchases. (Grocery store, wholesale club, and choice category bonus rewards apply to the first $2,500 in combined purchases in these categories each quarter, then purchases receive 1% cash back.) Change your category up to once a month, depending on your spending. There is no annual fee.

    Bonus offer: $200 online cash rewards bonus after you spend at least $1,000 in purchases in the first 90 days of account opening. 

    Click here to learn more and apply for the Bank of America® Customized Cash Rewards credit card today!

    Blue Cash Preferred® Card from American Express

    The Blue Cash Preferred® Card from American Express offers the highest cash back you can get for groceries. Earn 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, 1% after that), as well as 6% on select U.S. streaming services. 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more). There is a $0 intro annual fee for the first year, then $95. See Rates & Fees.

    Welcome offer: Earn a $300 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months. Terms apply. 

    Click here to learn more and apply for the Blue Cash Preferred® Card from American Express today!

    While not as exciting as redeeming rewards for travel, the value in getting cold, hard cash is not to be underestimated. There's no value in collecting travel rewards if you don't end up using them. With cash rewards, you know you'll always be able to use your points. Start collecting your cash rewards today!

    For rates and fees of the Blue Cash Preferred® Card from American Express, please click here.

    Like this article? Pin it! 

     

    Tagged: Credit Cards, Extra Income, best credit cards, cash back rewards, credit card rewards

    Источник: https://www.wisebread.com/5-best-cash-back-credit-cards

    Cashback reward program

    A cashback reward program is an incentive program operated by credit card companies where a percentage of the amount spent is paid back to the card holder. Many credit card issuers, particularly those in the United Kingdom, Canada and United States, run programs to encourage use of the card where the card holder is given points, frequent flyer miles or a monetary amount. This last benefit, a monetary amount, is usually known as cashback or cash back reward.

    Details[edit]

    Where a card issuer operates such a program, card holders typically receive between 0.5% and 3% of their net expenditure (purchases minus refunds) as an annual rebate, which is either credited to the credit card account or paid to the card holder separately.[1]

    When accepting payment by credit card, merchants typically pay a percentage of the transaction amount in commission to their bank or merchant services provider. Merchants are often not allowed to charge a higher price when a credit card is used as opposed to other methods of payment, so there is no penalty for a card holder to use their credit card. The credit card issuer is sharing some of this commission with the card holder to incentivise them to use the credit card when making a payment.

    Rewards based credit card products like cash back are more beneficial to consumers who pay their credit card statement off every month. Rewards based products generally have higher Annual percentage rate. If the balance were not paid in full every month the extra interest would eclipse any rewards earned. Most consumers do not know that their rewards-based credit cards charge higher "interchange" fees to the vendors who accept them.[2]

    History[edit]

    In the 1990s, major card issuers in the US raised the cash-back percentage up to 5%. The 5% cash back rate usually applies only to purchases made at grocery stores, pharmacies, and gas stations for 6 months.[citation needed] This high rate of cash back was set to grab the attention of potential applicants for them to consider applying for the card. Typically the cash back rate for all other purchases is around 1%.[citation needed]

    A 2010 public policy study conducted by the Federal Reserve concluded cash back reward programs result in a monetary transfer from low-income to high-income households. Eliminating cash back reward programs would reduce merchant fees which would in turn reduce consumer prices because retail is such a competitive environment.[3]

    In 2012 in the United States, due to increased gasoline (gas) prices, gas cash back cards or gas rebate credit cards became very popular among consumers. Companies provide an average of 3% APR on new gas credit cards. The main idea behind gasoline discount cards is that cardholders obtain a sure percent of the sum they consume on gasoline each month in the form of a rebate check at the end of the year. It works similarly to a cashback discount recognition card with one noteworthy exception: the gasoline discount is frequently applied each month, whereas most cashback cards ship away discount checks formerly a year.[citation needed] This makes the savings easier to view for most consumers.

    See also[edit]

    References[edit]

    Источник: https://en.wikipedia.org/wiki/Cashback_reward_program

    Which is a better option for credit card: reward points or cash back?

    It is difficult to ignore the convenience of a credit card. It is not only a safer option compared to cash transactions, but also offers benefits in the form or rewards or cash-back options. However, picking up credit cards randomly can defeat the purpose of the benefits offered by them. Therefore, it is prudent to know the payback options and how you can make the most of them before you opt for one.

    Cash back

    In the case of a cash-back card, you get back a fixed percentage of the amount you have spent every time you swipe it. The amount varies for various banks and card issuers may notify you about the changes in their offers from time to time. For instance, the Citibank credit card gives 5% cash back on movie tickets, telephone and utility bills, and 0.5% for all other transactions.

    Besides, most banks set a minimum transaction amount on their cards to qualify for the benefits and have a cap on the cash they return to the customer. For instance, the minimum transaction amount for the Standard Chartered Super Value Titanium card is Rs 750, with a maximum cash back of Rs 100 per transaction and Rs 500 for a month.

    The process of redeeming the cash reward also varies. Says Sumit Bali, Executive Vice-President, Kotak Mahindra Bank: “Our bank lets you adjust the cashback amount against that due for the next month’s bill.” While for some banks you may have to call the customer care number to get your cash reward, others may pay it every month, or at a predetermined period. Some cash-back offers also come with a limited validity period.
    “Cash-back cards come with conditions. For instance, if you fail to pay your dues on time, the cash back you accumulate will not be credited to you,” says Bali. Therefore, like any other financial product, it is better to go through the fine print and know all the benefits of the card before you pick one.

    Reward points

    Like cash-back cards, you can accumulate reward points on card purchases. For every Rs 100-150 you spend on your card, you get 1-5 points. For instance, the Standard Chartered Platinum Rewards Points card lets you earn five points for Rs 150 spent.

    Each point earned can be worth between Rs 0.25 and Rs 1, depending on the bank and the product. Says Parag Rao, Senior Executive Vice-President, Business Head, Card Payment Products and Merchant Acquiring Services, HDFC Bank: “Customers spend and accumulate reward points, which they can redeem for various products and vouchers through Net banking and phone banking.” If you do not redeem your reward points in time, they might lapse.
    How to pick the right card

    Both cash-back and reward point cards have their own advantages and limitations. The good part about cash back is that most banks automatically adjust it against the outstanding bill amount. However, rewards points have to be redeemed against products. Says Bali: “As far as industry numbers go, only 35-40% of rewards points are being used.” Most cash-back cards come for specific spending categories, such as dining and entertainment. “If you spend across categories, generic reward point cards work well,” adds Bali. However, your choice of cards should depend on how much you spend on it and for what (see graph).

    So, irrespective of the card you choose, if you use it irresponsibly, you could end up in a debt trap. Choosing the right card is as important as using the card sparingly and only to buy things that you need.
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    Источник: https://economictimes.indiatimes.com/wealth/spend/which-is-a-better-option-for-credit-card-reward-points-or-cash-back/articleshow/45239841.cms
    a hand holding a fan of credit cards overlaid on a poker table with chips in the background

    STEPHANIE SHAFER

    En español

    A year after the COVID crunch led credit card issuers to cut down on deals, sweet introductory offers are back on the table. If you’re looking to grab some cash rewards or burn a balance, you need not stick with your old cards.​

    You can maximize rewards by using several cards and dedicating each to its best purposes. How many cards? Three or four at most. You don’t want so many that you lose track of the bills; forgetting just one payment can unleash enough penalties and interest to wipe out a year of rewards.​

    And don’t even think about playing the rewards-card game if you carry a balance from month to month. Chasing after 2 percent cash back is a losing proposition if you’re paying 16 percent interest on past purchases. Instead, focus on getting your balance to zero.​ With that out of the way, here are some appealing cards for different types of users. (Note that offers like sign-up bonuses and balance transfer deals can change at any time.)​

    ​Everyday users​

    If you pay off your cards every month, use one that earns rewards, says Sara Rathner, a credit card specialist at the personal finance site NerdWallet: “Otherwise, you are leaving money on the table.” One of her current favorites? The American Express Blue Cash Preferred Card offers 6 percent cash rewards on groceries (up to $6,000 in annual spending), 3 percent on gas or transit, 6 percent on streaming services and 1 percent on everything else. The $95 annual fee is waived in the first year. You get a $350 bonus if you spend $3,000 in the first six months.

    For a one-size-fits-all approach, Matt Schulz, chief credit analyst with LendingTree, recommends the Wells Fargo Active Cash Card, which has no annual fee, offers 2 percent back on all purchases and has a $200 bonus if you spend $1,000 in the first three months. 

    ​Busy travelers​

    I’m not a huge fan of travel rewards cards, because their point systems can be confusing and the rewards can shift as the underlying airline or hotel programs change terms. “A lot of the time, the better choice is a cash-back card,” concedes Schulz. But he carries rewards cards for the hotels and airlines he uses most, in part to get priority boarding. A good travel rewards card will also offer fee-free currency conversions on purchases made abroad. ​


    Источник: https://www.aarp.org/money/credit-loans-debt/info-2022/new-credit-card-offers.html

    Are you trying to get the best cash back rewards for your credit card purchases?

    Money expert Clark Howard has long recommended an unlimited 2% cash back credit card with no annual fee as the everyday credit card for your wallet.

    “My favorite reward cards are ones that actually pay you money. I want cash, because nobody can tell you when you can or can’t spend your cash,” Clark says.

    Clark has a Citi Double Cash in his wallet that earns 2% on all purchases.

    And since 2% is generally accepted as the top non-promotional rate of return for cards that don’t charge annual fees or restrict purchase categories, I’ve decided to take a closer look at this segment of the cash back credit card market.

    For this article, Team Clark reviewed cash back credit cards both for the strength of their rewards programs and other perks, in search of the best deal for your wallet.


    Table of Contents


    What Is a 2% Cash Back Credit Card?

    Since this whole article is about the merits of a 2% cash back card in your wallet, it would make sense that I first define that kind of card.

    2% back credit cards reward your purchases made with the card by giving you $0.02 back as a reward for every $1 that you spend. Many times these cards come with no annual fee and include some non-rewards related perks.

    Think of 2% back cards as a subcategory within the cash back credit card category. Those, of course, are a subcategory of their own in the overall scheme of the credit card market.

    Maybe it would help to visualize these as a set of subfolders on your computer:

    In this article, I’m getting extremely precise to help you pick between the cards that would be stashed in that 2% back credit cards folder at the bottom.

    For a more detailed description of our process for analyzing the cards for this review, you can read our methodology.


    Best 2% Cash Back Credit Cards


    Citi® Double Cash Card: Best for Everyday Purchases

    Citi Double Cash Card - Citi's Best Cash Back Credit Card

    What To Know About This Card

    • Annual Fee: $0
    • Rewards Program Highlights: Earn unlimited 2% cash back on purchases (1% when you buy, 1% when you pay your bill).
    • Introductory Offers: 0% APR on balance transfers for the first 18 months of card membership
    • Top Perks: $0 fraud liability and access to the Citi Entertainment portal
    • Team Clark Card Review

    Why We Like It: It’s incredibly simple. There are no limits to the amount of 2% cash back you can earn with this card, so you can spend it anywhere Mastercard is accepted and know exactly what you’ll get in rewards each time. This no-annual-fee card is in Clark’s wallet, so it has his stamp of approval.


    PayPal Cashback Mastercard: Best for Online Shopping

    PayPal Cashback Mastercard

    What To Know About This Card

    • Annual Fee: $0
    • Rewards Program Highlights: Unlimited 2% cash back on all purchases accessible through an active PayPal account
    • Introductory Offers: There is no introductory 0% APR and there’s no standard welcome bonus, but PayPal does send targeted offers to attract new card users. For example, I’ve seen promotional periods of increased cash back, such as 4% back for your first three months.
    • Top Perks: Identity Theft Protection program and microchipped technology for touchless on-the-go payment methods.
    • Team Clark Card Review

    Why We Like It: There’s no minimum balance required to claim your rewards from PayPal, so this one is really easy to use for those who already frequently use PayPal for online transactions.


    Fidelity Rewards Visa: Best for Investing Rewards

    What To Know About This Card

    • Annual Fee: None
    • Rewards Program Highlights: Unlimited 2% cash back awarded as $50 credit to your Fidelity account for every $2,500 in spending
    • Top Perks: No rewards cap, limits or expiration, and flexibility to redeem for travel, merchandise, gift cards or statement credit
    • Team Clark Card Review

    Why We Like It: Much like the Citi Double Cash, this card offers a simple and straightforward path to 2% cash back on every dollar you spend. And since we’re big proponents of making sure you stay on top of your retirement savings, having this reward dump straight into your Fidelity investment account is a stress-free way to add to your long-term savings. This card is on our list of best credit cards for savings and investments.


    SoFi Credit Card: Best for Paying Down Debt

    Sofi Credit Card

    What To Know About This Card

    • Annual Fee: $0
    • Rewards Program Highlights: You can earn points that are worth 2% cash back on every purchase you make, provided that you use the points on a SoFi product (loans, investment accounts, etc.). You can use the reward points for other things, such as a statement credit, but the value dips below 2%.
    • Introductory Offers: The card does not have a promotional APR period, but welcome bonus offers do pop up occasionally. For example, the card recently had a promotion that offered new users $100 worth of reward points for making their first purchase.
    • Top Perks: 12 consecutive on-time payments will result in an interest rate reduction of up to 1%. You can also get cell phone protection by paying your wireless bill with this card.
    • Team Clark Card Review

    Why We Like It: If you’re someone who is already plugged into the SoFi product network with a loan or investing, this card is an easy way to get 2% toward something that could be important to your financial life.

    SoFi is an increasingly popular student loan and personal loan distributor, so this could be a chance for many to accelerate the elimination of that debt — provided you are spending responsibly with the card and paying the balance in full each month, of course.


    Fifth Third Preferred: Best for Cell Phone Protection

    Fifth Third Preferred Cash/Back Credit Card

    What To Know About This Card

    • Annual Fee: $0
    • Rewards Program Highlights: Unlimited 2% cash back with no categorical restrictions or spending caps. You get this in the form of rewards points, which can be converted to cash, statement credit or other benefits.
    • Introductory Offers: There are no welcome bonuses or introductory APR periods for this card.
    • Top Perks: Cell phone protection plan and no foreign transaction fees
    • Team Clark Card Review

    Why We Like It: This card is a really strong 2% back option for Fifth Third customers. You must have a qualified banking account with them to qualify for this card.

    But when you do, you can get coverage for a lost or damaged cell phone as long as you pay your wireless bill with this credit card each month. You can receive up to $800 per claim, but there is a $50 deductible and a $1,000 yearly limit to the benefit.


    TD Bank Double Up Card: Best for Welcome Bonus Perks

    TD Double Up Credit Card

    What To Know About This Card

    • Annual Fee: $0
    • Rewards Program Highlights: Earn 1% cash back on purchases, plus earn 1% cash back when you redeem into an eligible TD Bank Deposit Account. No spending caps or category restrictions.
    • Introductory Offers: 0% APR on balance transfer for 15 months, plus earn $75 cash back in the form of a statement credit when you spend $500 within the first 90 days after opening the account.
    • Top Perks: Zero fraud liability guarantee and digital wallet accessibility
    • Team Clark Card Review

    Why We Like It: This is one of the rare 2% cards that offers both a welcome bonus and an introductory 0% APR period.

    Those are temporary benefits, but if you already have a TD Bank account, the cash back returns on this card match any on the list.


    Wells Fargo Active Cash: Best for 0% APR Periods

    What To Know About This Card

    • Annual Fee: $0
    • Rewards Program Highlights: Earn 2% cash back on purchases. No spending caps or category restrictions. The cash back can be redeemed as cash, account credits or points to be used on gift cards or travel.
    • Introductory Offers: 0% APR on new purchases and balance transfer for 15 months (after that the variable APR will be 14.99% to 24.99%), plus earn a $200 cash rewards bonus when you spend $1,000 within the first 3 months.
    • Top Perks: Cell phone protection coverage included.
    • Team Clark Card Review

    Why We Like It: This is another one of the rare 2% cards that offer both a welcome bonus and an introductory 0% APR period. This one has 0% periods on new purchases and balance transfers.

    When you throw in the cell phone protection, this is one of the more tempting 2% cards.


    Comparison Chart

    Here are some of the defining characteristics of the 2% cards detailed above:

    Card CharacteristicCiti Double CashPayPal Cashback MastercardFidelity Rewards Visa SignatureSoFi Credit CardFifth Third PreferredTD Bank Double UpWells Fargo Active Cash
    Annual FeeNoneNoneNoneNoneNoneNoneNone
    Cash Back RateUnlimited 2% (1% when you buy, 1% when you pay your bill)Unlimited 2%Unlimited 2%Unlimited 2%Unlimited 2%Unlimited 2% (1% when you buy, 1% when you redeem in TD Bank account)Unlimited 2%
    Cash Back Redemption OptionsCheck, statement credit or credit for linked Citi bank accountPayPal balance creditInvestment account credit, travel, merchandise, gift cards, statement creditMust use toward qualified SoFi product for full value, drops to 1% as statement creditCheck, statement credit, credit for a connected Fifth Third account or loanMust deposit rewards into TD Bank account to receive full 2%, value drops to 1% otherwiseCheck, Wells Fargo account credit, travel, gift cards
    Welcome BonusNoneNoneNoneNoneNone$75 if you spend $500 or more within the first 3 months$200 if you spend $1,000 within the first 3 months
    Foreign Transaction Fee3% in U.S. dollars per transactionNone1%NoneNone3% in U.S. dollars per transaction3% in U.S. dollars per transaction
    Cell Phone ProtectionNoNoNoYesYesNoYes

    Things To Look For When Picking a 2% Cash Back Credit Card

    Still not sure which 2% card is best for you?

    You may find that using the comparison chart above to answer some of the following questions is helpful in finding the right fit for your wallet.

    1. Are There Category or Spending Limits?

    We tried to a good job of weeding out all the cards that require you spend your money a certain way in order to receive the 2% benefits.

    But if you look outside this review, you may come across some cards that apply one or both of these restrictions to your rewards.

    A couple of cards you may find that require spending a certain way to receive 2% rewards are the Apple Card (must use Apple Pay to get 2%) and the Spark Cash for Business from Capital One (must be a small business owner).

    2. What Are the Cash Back Redemption Methods?

    Clark likes the Double Cash card because the redemption policy makes it easy for him to convert his rewards into cash.

    As you can see on the comparison chart, that’s not always the case. Some cards require you to invest your rewards with their company or spend it on their products in order to receive the full 2%.

    If you’re funding a retirement account or paying off a student loan with your rewards, that’s no issue. But if you need flexibility with your rewards, it may be a deal breaker.

    3. What Do the Fees Look Like?

    You won’t find any cards with annual fees on this list because it was important to Clark that we offer options for 2% back without worrying about an annual fee cutting into your returns.

    But just because we avoided annual fees doesn’t mean you can forgo analyzing fees altogether.

    Each card has fees for things like balance transfers, cash advances, late payments or returned payments. If you’re paying your bills on time and not using the card for anything but new purchases, this should go pretty low on your list of priorities.

    4. Are There Other Perks That Make This Card Worthwhile?

    Do you need a 0% APR period on balance transfers to bring an existing balance over and pay off debt? There are a couple of cards on this list that you could use for that purpose first and then keep as an everyday spending card.

    That’s just one example of a perk that could make one of these cards more valuable to you than the others.

    Welcome bonuses and issuer-specific perks, such as cell phone protection or fraud protection, could be benefits that sway your decision.


    Clark Howard’s Credit Card Strategy

    Money expert Clark Howard believes it is important to have a credit card for the purposes of building and maintaining a solid credit history so you’ll have it when big life events, like a home purchase or job application, require a credit check.

    He also believes that focusing on a rewards credit card — like a good cash back credit card — should be something you consider only if you plan to pay your balance in full each month. If that’s not your plan, Clark would point you to the credit card with the lowest possible interest rate or advise you to avoid a credit card altogether.

    Assuming you’re here because you are in search of the maximum benefits from your cash back credit card decision, Clark strongly suggests that you start with an unlimited 2% cash back card to assure that you get a solid rewards return on every purchase you make.

    There are cards that offer higher rates of return, but they’re usually restricted to categorical spending and may have rewards caps.

    “Really think through your charge patterns and whether or not those rewards really give you a bang for your buck.”

    Clark, for example, carries the Costco Anywhere Visa card in his wallet because he’s a frequent Costco shopper.

    But he does so knowing he also has the Citi Double Cash card to get him 2% back on all of his non-Costco purchases.


    Methodology

    For the purposes of determining which cards are “best” in this category, we took input from Clark and sought to find cards that best fit his credit card strategy.

    Team Clark spent many hours reviewing the available cash back credit cards on the market, assessing them for:

    • Annual fees
    • Welcome bonuses
    • Introductory APR periods
    • Spending categories for maximum cash back earnings
    • Additional fees (transaction or otherwise)
    • Perks offered to cardholders

    We did not factor in non-introductory APR as a part of the evaluation, because interest rates will vary based on your individual financial circumstance. Clark recommends not carrying a balance on these cards, so that should curb any concern over the interest rate.

    We also did not include offerings from local or regional banks and credit unions, because they’re not available to everyone. Often, local institutions will have desirable cards, so I do recommend that you compare your local bank or credit union’s cash back credit cards to the ones that made this list.


    Final Thoughts

    Have I talked you into adding a 2% card to your wallet yet?

    If you’re still on the fence, here are some pros and cons to consider:

    Pros and Consfor Getting a 2% Cash Back Card

    ProsCons
    Certain, steady rewardsWelcome bonuses are rare
    No spending caps or category limitsAPR on the cards may be high
    Usually come with no annual feeNo high-return rewards like rotating 5% cards or category bonus cards

    Bottom Line

    Whether you’re looking for your first credit card or are an experienced spender, there’s a spot in most everyone’s wallet for a 2% cash back card.

    New credit card users can take advantage of the steady rewards plans to make sure they’re getting a solid reward for all of their spending.

    More experienced credit card users can use the 2% card as a safety net to ensure that their rewards never dip below the 2% threshold.


    More Clark.com Content You May Like:

    Источник: https://clark.com/credit-cards/2-percent-cash-back-cards/

    CREDIT CARDS

    Apply for U.S. Bank's Altitiude Go total rewards credit card

    Rewards

    4X points on dining, takeout and restaurant delivery2

    2X points at grocery stores, grocery delivery, streaming services, gas stations and EV charging stations

    1X point on all other eligible purchases

    APR

    Enjoy a 0% intro APR3 on purchases and balance transfers for the first 12 billing cycles. After that the APR is variable, currently 14.99% to 23.99%.

    Credit limit

    Subject to credit approval.

    Welcome offer

    Earn 20,000 bonus points worth $200.1

    Apply for U.S. Bank's Altitiude Connect rewards credit card

    Rewards

    5X points on prepaid hotels and car rentals booked directly in the Altitude Rewards Center5

    4X points on travel, gas stations and EV charging stations

    2X points at grocery stores, grocery delivery, dining and streaming services

    1X point on all other eligible purchases

    Credit limit

    Subject to credit approval.

    Annual fee

    $0 intro for the first year, $95/year thereafter

    Welcome offer

    Earn 50,000 bonus points worth $500.4

    Apply for U.S. Bank’s Cash+ rewards credit card

    Rewards

    Up to 5% cash back7 on two categories you choose8

    2% cash back on one everyday category

    1% cash back on all other eligible purchases

    Credit limit

    Subject to credit approval.

    Welcome offer

    Apply for U.S. Bank's low interest Platinum credit card

    Credit limit

    Subject to credit approval.

    Welcome offer

    Get a low intro APR for 20 billing cycles.

    Apply for U.S. Bank's Altitude Reserve Visa Infinite card

    Rewards

    5X points on prepaid hotels and car rentals booked directly in the Altitude Rewards Center12

    3X points on travel and mobile wallet purchases

    1X point on all other eligible purchases

    Credit limit

    Subject to credit approval.

    Welcome offer

    Earn 50,000 bonus points worth $750 in travel.11

    Apply for U.S. Bank's American Express credit card

    Rewards

    5X FlexPoints on prepaid hotels and car rentals booked directly in the FlexPerks Rewards Center14

    3X FlexPoints on dining, takeout and restaurant delivery

    2X FlexPoints at airlines, gas stations and EV charging stations

    1X FlexPoint on all other eligible purchases

    Credit limit

    Subject to credit approval.

    Welcome offer

    Earn 30,000 bonus FlexPoints worth $450 in travel13

    Build credit for tomorrow.15

    Our credit-building cards let you spend just like you would with a traditional credit card. The main difference is you’ll need to make a refundable security deposit from $300 to $5,000, to set your credit limit. Spend within your limit and pay your bill when it’s due. Over time, this will help build your credit and you may be able to graduate to a traditional card.

    Apply for U.S. Bank's Secured Visa credit card

    Credit limit

    Apply for U.S. Bank's Altitude Go Visa Secured credit card

    Rewards

    4X points on dining, takeout and restaurant delivery16

    2X points at grocery stores, grocery delivery, streaming services, gas stations and EV charging stations

    1X point on all other eligible purchases

    Credit limit

    Welcome offer

    Earn up to 4X points while building credit.15

    Apply for U.S. Bank's Cash Plus Secured Visa credit card

    Rewards

    Up to 5% cash back7 on two categories you choose8

    2% cash back on one everyday category

    1% cash back on all other eligible purchases

    Credit limit

    Welcome offer

    Build credit15 and earn cash back.7

    Small business credit cards

    Power your business purchases.

    From points to cash back, there’s a credit card with benefits made for your business.

    View business credit cards

    Card partners

    See more cards with rewards.

    Learn about the retailers, airlines and other businesses we partner with to offer rewards credit cards.

    Explore partner cards

    Retrieve your mail offer

    Accept your card offer.

    Ready to take the next step? Have the confirmation number from your offer invitation handy before you get started.

    Retrieve your offer

    Frequently asked questions

    A credit card allows you to borrow money, with the intention you’ll pay back the lender (your bank) later on. While it sounds simple, credit can get complex. Take our quick credit quiz to test your knowledge and learn what you might need to brush up on.

    There are simple things you can do to build and maintain good credit. Pay your entire balance on time every month, stay below your credit limit and follow these other tips for improving your credit score.

    Источник: https://www.usbank.com/credit-cards.html

    Cash-back credit cards let you earn cash rewards on your spending. Some cash-back credit cards offer flat-rate perks, like 1% to 2% cash back on all purchases, while others reward you at higher rates, between 2% and 6%, when you spend money within different categories, such as groceries, gas or even with certain retailers. The best cash-back credit card ultimately depends on your own spending habits and preferences.

    When you earn cash back, your rewards usually show up as a statement credit that can be used to pay your bill or be deposited into your bank account. Every time you use your credit card on eligible purchases, you'll earn real dollars and cents back. It's that simple. Check out our partner offers for the best cash-back credit cards below. We update this list continuously to make sure you stay informed of the best opportunities available. 

    Intro BonusIntro 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!

    APR14.99% - 23.74% Variable

    Recommended Credit Excellent/Good

    Reward Rates
    • Enjoy 5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more;
    • 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service
    • 1.5% on all other purchases

    Annual Fee$0

    Intro Purchase APR0% Intro APR on Purchases for 15 months

    Intro Balance Transfer APR0% Intro APR on Balance Transfers for 15 months

    Balance Transfer Fee Either $5 or 5% of the amount of each transfer, whichever is greater.

    Balance Transfer APR14.99% - 23.74% Variable

    Foreign Transaction Fees 3% of each transaction in U.S. dollars

    Penalty APR Up to 29.99%

    • Enjoy 5% cash back on travel purchased through Chase Ultimate Rewards®, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more;
    • 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service
    • 1.5% on all other purchases

    Our Take

    Of all the credit cards available on the market, the Chase Freedom Unlimited covers the most bases when it comes to cash-back categories. They cover travel (5% when booked through Chase Ultimate Rewards), dining (3%) and drugstores (3%), while covering every other purchase with a blanket 1.5% cash-back rate. And for the first year you have this Chase credit card account, you can earn an additional 1.5% cash back on up to $20,000 in purchases, for up to $300. Most welcome-bonuses aren't offered in the form of additional cash back.

    Intro Bonus$200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening

    APR13.99% - 23.99% Variable APR on purchases and balance transfers

    Recommended Credit Excellent/Good

    Reward Rates
    • Earn 3% cash back in the category of your choice (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases)
    • Earn automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases)
    • Earn unlimited 1% on all other purchases.

    Annual Fee$0

    Intro Purchase APR0% Intro APR for 15 billing cycles for purchases

    Intro Balance Transfer APR0% Intro APR for 15 billing cycles for any BTs made in the first 60 days. A 3% fee (min. $10) applies.

    Balance Transfer Fee Either $10 or 3% of the amount of each transaction, whichever is greater.

    Balance Transfer APR13.99% - 23.99% Variable APR on purchases and balance transfers

    Late Payment Fee Up to $40

    Foreign Transaction Fees 3%

    Penalty APR up to 29.99% APR

    • Earn 3% cash back in the category of your choice (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases)
    • Earn automatic 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases)
    • Earn unlimited 1% on all other purchases.

    Our Take

    Most cards that offer category selection for maximized cash rewards limit these selections to a single quarter. But the Bank of America Customized Cash Rewards credit card* allows you to select "online shopping" as an indefinite rewards category where you can earn 3% cash-back rewards. Note that you must manually choose this category via online banking or the mobile banking app, as the default category is "gas." 

    You can also earn 2% cash back at grocery stores and wholesale clubs (earn 3% and 2% cash back on up to $2,500 in combined choice category/grocery store/wholesale club purchases each quarter, then 1%), and 1% cash back on all other purchases. The welcome bonus doesn't hurt, either.

    Intro BonusEarn a $300 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.

    APR13.99%-23.99% Variable

    Recommended Credit Excellent/Good

    Reward Rates
    • 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%)
    • 6% Cash Back on select U.S. streaming subscriptions
    • 3% Cash Back on transit including taxis/rideshare, parking, tolls, trains, buses and more
    • 3% Cash Back at U.S. gas stations
    • 1% Cash Back on other purchases

    Annual Fee$0 introductory annual fee for the first year, then $95.

    Intro Purchase APR0% on purchases for 12 months

    Balance Transfer Fee N/A

    Late Payment Fee Up to $40

    Foreign Transaction Fees 2.7% of each transaction after conversion to US dollars.

    Penalty APR 29.99% Variable

    • 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%)
    • 6% Cash Back on select U.S. streaming subscriptions
    • 3% Cash Back on transit including taxis/rideshare, parking, tolls, trains, buses and more
    • 3% Cash Back at U.S. gas stations
    • 1% Cash Back on other purchases

    Our Take

    Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more.

    While there are a lot of other quality gas cards available, the Blue Cash Preferred Card from American Express boasts simplicity with straightforward cash-back rewards and no annual fee for the first year ($95 annually after that). With 3% cash back at US gas stations, it gets one of the highest returns on the market for gas purchases. 

    Even for city dwellers and commuters, this card offers great transportation benefits with 3% cash back on transit (trains, buses, parking, rideshare services, taxis, tolls and more). This is a unique offering among gas credit cards. There are plenty more cash-back categories to enjoy with this card, as well. Cash back is received in the form of Rewards Dollars that can be redeemed for a statement credit.

    Intro Bonus$300 after you spend $3,000 on purchases within 3 months from account opening

    APR15.99% - 23.99% (Variable)

    Recommended Credit Excellent, Good

    Reward Rates
    • Earn unlimited 4% cash back on dining, entertainment and popular streaming services
    • Earn 3% at grocery stores
    • Earn 1% on all other purchases

    Annual Fee$95

    Intro Purchase APRN/A

    Intro Balance Transfer APRN/A

    Balance Transfer Fee None for balances transferred at the Transfer APR.

    Balance Transfer APR15.99% - 23.99% (Variable)

    Late Payment Fee Up to $40

    Foreign Transaction Fees None

    Penalty APR None

    • Earn unlimited 4% cash back on dining, entertainment and popular streaming services
    • Earn 3% at grocery stores
    • Earn 1% on all other purchases

    Our Take

    With the Capital One Savor Cash Rewards Credit Card*, you can earn an unlimited 4% cash back on dining and takeout. The $300 welcome bonus (when you spend at least $3,000 within the first 3 months of account opening) can essentially cover your annual fee ($95) for the first three years. 

    You can even earn more cash-back rewards when you make purchases on entertainment (4%), popular streaming services (4%) and grocery stores (3%). For everything else, a 1% cash-back rate covers you. "Entertainment" is a rare category among cash-back credit cards, but Capital One defines it to include movie theaters, sports promoters (professional and semi-professional live events), theatrical promoters, amusement parks, tourist attractions, aquariums, zoos, dance halls, record stores, pool halls and bowling alleys.

    If you want to avoid the annual fee, or don't have a very large dining and entertainment budget, you may also want to consider this card's sibling, the Capital One SavorOne Cash Rewards Credit Card*, or some of our other best picks for restaurant credit cards.

    Intro BonusEarn a $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months

    APR14.99%-24.99% Variable APR

    Recommended Credit Excellent, Good

    Reward Rates
    • Earn unlimited 2% cash rewards on purchases

    Annual Fee$0

    Intro Purchase APR0% intro APR for 15 months from account opening

    Intro Balance Transfer APR0% intro APR for 15 months from account opening on qualifying balance transfers

    Balance Transfer Fee up to 5%; min: $5

    Balance Transfer APR14.99%-24.99% Variable APR

    Foreign Transaction Fees 3%

    Penalty APR None

    • Earn unlimited 2% cash rewards on purchases

    Our Take

    It doesn't get simpler than the Wells Fargo Active Cash Card. This card boasts a 2% flat cash rewards rate on purchases -- one of the highest flat cash rewards rates on the market. You don't have to worry which card you're going to use for which purchase. And while there are other cash rewards credit cards that'll net you 2%, the sign-on bonus, $0 annual fee and introductory APR make this card stand out among the competition. This is also a great option for an emergency credit card.

    FAQs

    How do cash-back credit cards work?

    Cash-back credit cards offer cardholders rewards on their spending in the form of statement credits or cash. A statement credit is a reduction in the amount due to the credit card company on your monthly bill. Note that rewards are not always available the month you earn them -- they are usually applied to your balance by credit card issuers after one or two billing cycles.

    The redemption process for cash-back credit cards is either automatic or very simple. Some cards automatically apply cash rewards to your statement balance each month. Others require you to log in and redeem available rewards points for statement credits. Most points don't expire, but you will lose them if you close the account before redeeming them. 

    What types of cash-back credit cards are there?

    Cash-back credit cards generally fall into four primary categories: flat-rate, tiered, rotating or choose your own. 

    Flat-rate cards offer the same rate for every purchase. Tiered cards offer a different rewards rate for different categories of spending. Rotating category cards offer different rewards each quarter, determined by the card issuer. Choose-your-own category cards allow you to choose your rewards category.

    How do you choose a cash-back credit card?

    To choose the best cash-back credit card for you, the most important thing is to have a clear idea of how you're already spending money each month. Once you identify the categories where you have the highest, most consistent spending, use the charts in our list to determine which card will net you the highest return. Consider other features of the cards, too, such as APR, sign-on bonuses and foreign transaction fees -- make sure you get something that fits with your lifestyle and spending habits.

    Your credit card choice may also be affected by your credit score. Most of the cards we recommend require a good or excellent credit score, which is typically around 670 or higher. If you don't meet the credit criteria required, there are credit cards available that are specifically for those trying to rebuild credit, like secured credit cards. Alternatively, you can look into the best credit cards for no credit and the best credit cards for bad credit.

    How we picked the best cash-back credit cards

    We prioritized the cash-back credit cards that reward broad spending categories where Americans tend to spend significant amounts of money, instead of narrow categories like streaming services or "home improvement." Then we compared reward offerings with potential returns based on typical spending budgets derived from Bureau of Labor Statistics data. 

    In the end, we chose five high-value options from the crowded market. Some are no-annual-fee, flat-rate credit cards that earn the same amount on all purchases. Some require you make a certain qualifying purchase to start earning cash-back rewards. Some credit cards offer a sign-up bonus reward as well as cash back. Some are limited to specific spending categories (such as whether it's a grocery purchase, gas purchase, dining, transit or travel) but have a higher rewards rate, while others charge an annual fee. We then outlined important information for each card, including whether it has a transfer fee, bonus redemption thresholds or introductory APR. We also specified general credit requirements for eligibility (if you find you aren't eligible for a card that offers cash-back rewards, try a student credit card first). 

    For rates and fees of the Blue Cash Preferred Card from American Express, click here.

    *All information about the Bank of America Customized Cash Rewards credit card, Capital One Savor Cash Rewards Credit Card and the Capital One SavorOne Cash Rewards Credit Card has been collected independently by CNET and has not been reviewed by the issuer.

    A direct deposit of news and advice to help you make the smartest decisions with your money.

    The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services offered by our partners.

    The editorial content on this page is based solely on objective, independent assessments by our writers and is not influenced by advertising or partnerships. It has not been provided or commissioned by any third party. However, we may receive compensation when you click on links to products or services offered by our partners.

    Источник: https://www.cnet.com/personal-finance/credit-cards/best-cash-back-credit-cards/
    the highest paying cash back credit card

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