What Credit Card Is Right For You? The Best Cash Back Rewards Cards

Ryan
611 days ago.

Need Help Choosing A Credit Card? Let NerdWallet Help

The Best Cash Back Rewards Cards
What credit card is right for you? Some cards offer cash back rewards, some offer airline miles, some offer store rewards and so on. This week, we’ll take a look at the best credit cards out there offering cash back rewards.

Best Credit Cards with Cash Back Rewards.
The best credit cards offering cash back rewards.

I’m of the firm belief that every adult should have a credit card. It’s true that you shouldn’t spend more than you can afford, but things happen. If you’re a big spender, you may want to look into the cards with an annual fee. These cards can offer higher rewards, but you will pay a set amount each year for the privilege of having the card.

It’s a good idea to know your FICO, or credit, score before looking into cards. It’s said that a FICO score is used in 90% of credit decisions. You’ll find this score used if you’re applying for a credit card, buying a car or buying a house. Your rating is based on a variety of things such as your payment history, the length of your credit history, the types of credit you’ve used, the amount of your outstanding credit and more. There are a variety of place online to get a copy of your FICO score for free.

We’ve gone through the NerdWallet database and picked out some of the best credit cards by category. This week we are taking a look at the best credit cards offering cash back rewards.

NerdWallet is a great resource for all things personal finance and especially for credit cards. The site advertises 1,700 credit cards that you can compare against each other.

The Best Cash Back Rewards Credit Cards

Cash Back

Discover it – Cashback Match

This card offers 5% cash back on a different category of purchases each quarter. One quarter may be gas stations, while the next may be purchases from Amazon.com, wholesales clubs or restaurants. Discover will also match the cashback rewards at the end of the year for new card members. NerdWallet estimates the annual rewards that this card offers at $504 for the first year.

A downside of the card is that Discover cards aren’t as widely accepted as some other cards out there.

Cash Freedom Unlimited

This card offers 1.5% cash back on every purchase and gives card owners a bonus of $150 after they spend $500 in the first three months after opening their account. The Chase Freedom Unlimited also an intro APR of 0% for the first 15 months. NerdWallet estimates the annual rewards for this card at $399 in the first year.

Bank Americard Cash Reward Credit Card

I personally just signed up for this card, mainly because I’ve been a longtime customer of Bank of America. Spend $500 in the first 90 days and a $100 online cash rewards bonus. Cardholders earn 1% cash back on standard purchases, but 2% at grocery stores and 3% on gas purchases. The cap is $2,500 on purchases each quarter. Redeem your Cash Back Rewards into a Bank of America savings or checking account and receive a 10% bonus. Preferred Rewards clients can qualify for bonuses up to 75%.

NerdWallet estimates the annual rewards for the Bank Americard Cash Reward Credit Card at $362.  The sole con listed against this card says a lot about this card.

  • If you’re a big spender with excellent credit and willing to pay an annual fee, there are cards with higher rewards

Wells Fargo Cash Wise Visa Credit Card

The Wells Fargo Cash Wise Visa Credit Card offers a standard 1.5% cash back on most purchases. Cardholders that make purchases using Android Pay or Apple Pay can qualify for 1.8% cash back on select purchases. Spend $1,000 in your first three months with the card and you can qualify for a $150 reward. $600 in cell phone protection is offered for users that pay their monthly cell phone bill with the card.

NerdWallet estimates $399 in rewards on the Wells Fargo Cash Wise Visa Credit Card in the first year.

Capital One Quicksilver Cash Rewards Credit Card

The Capital One Quicksilver Cash Rewards Credit Card is pretty straightforward in offering 1.5% cash back on every purchase. A one-time reward for $100 is available when you spend $500 in the first three months with the card. Purchases and balance transfers in the first nine months qualify for a 0% APR.

NerdWallet estimates cash back rewards of $374 in the first year for Capital One Quicksilver Cash Rewards Credit Card cardholders.

Want To Know More About Personal Finance and Credit Cards?

Do you want to know how you can really maximize your credit card rewards? Check out the /r/churning subreddit on Reddit. Warning: This subreddit will take you deep down the rabbit hole.

Want to brush up on your personal finance knowledge in general? Check out the /r/personalfinance subreddit on Reddit.

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Ryan

Ryan is a weird dude. He doesn't cook, yet owns a plethora of kitchen gadgets. He rationalized buying a SodaStream while unemployed. He counts Step Up 2: The Streets as one of his favorite movies along with Footloose, Rent, Grease and Paul Blart: Mall Cop. He loves Mizzou but only wants them in the SEC so he can tailgate in Nashville. He owns a ShakeWeight and AbLounger, but still loves him some John Donut and Billie's Fine Foods. You can get more of Ryan at iLoveSoulard.com or just check the stool on the far end of the bar at iTap in Soulard.

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