The Top 10 Cash Back Credit Cards of 2016


Cash back rewards credit cards are some of the most practical to use, and the benefits can make having these cards well worth it. They work by rewarding points as a result of your everyday purchases, and some specialty cash back credit cards even let you earn additional points if you shop with certain retailers. When you’re ready to cash in your points, you can redeem them for gift cards, statement credits, and other perks. If the idea of earning rewards for everyday spending piques your interest, here are ten of the top cash back credit cards available.

Chase Freedom

One of the most popular cash back credit cards on the market is Chase Freedom, which has rotating quarterly cash back categories that provide ample opportunity to earn points and exclusive rewards. Rewards don’t expire, but you will need to activate the bonus categories. In addition, Chase Freedom has a great sign-on bonus where you can earn $150 after spending at least $500 on purchases in the first three months after opening an account.

APR: 0% for the first 15 months from the date that you open your account on balance transfers and purchases, then a variable 14.24% to 23.24% thereafter

Annual Fee: $0

Discover it Cashback Match

This is one of the most valuable cash back credit cards available, but the one caveat is that Discover isn’t as widely accepted as Visa or MasterCard. Still, the points and redemption systems are among the best on the market. Plus, for new cardholders all of the cash back that you earn during your first year will be matched dollar for dollar — no other credit card issuer in the industry does that.

APR: 0% for the first 12 months, then a variable 11.24% to 23.24% per year thereafter

Annual Fee: $0

Barclaycard CashForward World MasterCard

The neat thing about this card is that you’ll not only earn an unlimited 1.5% back on all purchases — with no rotating categories — but you’ll get 5% as a redemption bonus when you redeem your points. This allows you to simply use the card to get points, instead of having to come up with strategies to maximize how much you earn.

APR: 0% for 15 months on balance transfers made within 45 days of opening an account then the standard purchase APR will apply, which is a variable 14.99% to 24.99%

Annual Fee: $0

BankAmericard Cash Rewards Credit Card

Sometimes, it’s best to evaluate cash back credit cards based on where you bank, which is definitely the case with the BankAmericard Cash Rewards card. If you’re not a Bank of America Or Merrill Lynch customer, you can still earn decent rewards. However, BoA customers get a 10% bonus each time they redeem their points into their checking or savings accounts, and Merrill Lynch customers can get a bonus ranging between 25% and 75% if points are redeemed into an investment account. As for the earnings system, you’ll get 3% back on gas, 2% back at grocery stores and wholesale clubs, and 1% back on all other purchases.

APR: 0% for the first 12 billing cycles, then a variable 13.24% to 23.24% per year thereafter

Annual Fee: $0

Blue Cash Preferred Card from American Express

If you primarily make purchases at department stores, gas stations, and grocery stores, this is a great card to get. You’ll earn 6% back on grocery store purchases, 3% at gas stations and department stores, and 1% back on all other purchases. If you spent at least $65 a week buying gas and groceries you’d easily come out on top with this card, even after paying the annual fee. The Blue Cash Preferred Card also offers a great sign up bonus as well as a 0% introductory APR.

APR: 0% for the first 12 months after opening your account, then a variable 13.24% to 23.24% per year thereafter

Annual Fee: $95

Capital One QuicksilverOne Cash Rewards Credit Card

Those who don’t have good credit at minimum are often left out when it comes to cash back credit cards, which is what makes this card so unique. You can be approved with an average credit score, although the interest rate will be on the high side. Still, if you’re aiming to get your credit in shape and you want a cash back card, this is the one to consider. You’ll earn 1.5% back on all purchases, and there’s no limit to the points and rewards that you can earn. In addition, there are no foreign transaction fees and you can have your credit limit increased if you make your first five payments on time.

APR: 0% for the first 9 months after you open an account, then a variable 23.24% thereafter

Annual Fee: $39

Citi Double Cash Card

If you’re interested in cash back credit cards with super simple points and rewards systems, this is a good option. You’ll earn 1% back per dollar that you spend, no matter what the purchase is. When you pay off your purchases, you’ll receive another 1% back. You can opt to get a gift card, statement credit, or a check sent via postal mail when you redeem your points. The great thing about this card is that no matter how you shop or when, you’ll get an industry leading rewards rate.

APR: 0% for balance transfers for the first 18 months after opening your account then the standard purchase APR applies, which is a variable 13.24% to 23.24%

Annual Fee: $0

U.S. Bank Cash+ Visa Signature Card

This card has a points system that’s fairly straightforward, and it’s a good choice if you primarily shop in certain types of stores. Here’s how it works: you choose your preferred quarterly categories and you’ll earn 5% cash back whenever you shop in a store in that category. When you go above the quarterly spending limit, you’ll still earn an unlimited 1% cash back on all purchases, even those outside of your chosen categories.

APR: 0% for your first 12 billing cycles, then a variable 13.24% to 23.24% per year thereafter

Annual Fee: $0

American Express EveryDay Preferred Credit Card

If you’re a frequent shopper, this is one of the best cash back credit cards to look into. You’ll earn three points per dollar at grocery stores, two points per dollar at gas stations, and you’ll get a 50% point bonus if you make at least 30 purchases in any one billing cycle. This card does come with an annual fee, but if you’re a frequent card user you’ll reap enough benefits to make it worthwhile.

APR: 0% for the first 12 months, then a variable 13.24% to 23.24% thereafter

Annual Fee: $95

Fidelity Rewards Visa Signature Card

Having this credit card could be a smart move if you have or plan to open an account with Fidelity. You can redeem your rewards points one to one for cash deposits into Fidelity brokerage accounts, 529 College Savings Plans, some retirement accounts, and Fidelity Cash Management accounts. There’s no limit to the points you can earn, and you’ll get 2% back on all purchases year round.

APR: variable 14.24% for purchases and balance transfers

Annual Fee: $0

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