Best Cash Back Credit Cards in America
Chase Freedom Visa – As Low as 9.99% APR
It feels great to see an APR below 10 percent, doesn’t it? This card won the cash back title by a healthy margin. The generous cash back program and the low cost of using the card combine to make a powerful credit card for consumers.
Why it won
The rewards: After your first purchase, you earn 5,000 bonus points, which is equal to a $50 check. Get 5 percent cash back on rotating categories, such as groceries, gas and dining. There is a quarterly cap of $1,500 on categories, but after you reach the cap, you still get one percent cash back. You also get one percent cash back on all other purchases. There are no limits to the number of points you can earn.
The costs: As the name suggests, the variable APR for this card goes as low as 9.99 percent. You get a zero percent introductory APR for six months on purchases and for 12 months on balance transfers. You can also get an APR as low as 9.99 percent on balance transfers after the intro period ends. There’s no annual fee.
At publishing time, Chase Freedom Visa is offered on Credit.com product pages and Credit.com may be compensated if our users apply for and ultimately sign up for the card. However, this relationship does not result in ANY preferential editorial treatment.
If you don’t have a family member in the military, you can join the Pentagon Federal Credit Union by contributing $20 to the National Military Family Association. This card has excellent cash back rewards so the small one-time fee is worth it.
The rewards: You get five percent cash back from gas purchases paid at the pump. On all other purchases, you get one percent cash back. There is a $50,000 limit, but that’s a pretty high cap.
The costs: You get a 13.99 percent variable APR on purchases, which is a decent rate for this category. There’s no annual fee and no cash advance fee. Through June 30, 2011 you can also get a 4.99 percent introductory rate (and pay no fee) on balance transfers. The 4.99 percent APR stays in place for the life of the balance.
Capital One No Hassle Cash Rewards (for excellent credit)
This card is aptly named because it offers a straightforward, easy-to-understand cash back program. Consumers can save a bundle on two of life’s necessities: gas and groceries.
Why it won 2nd runner-up
The rewards: You get two percent cash back on purchases at gas stations and grocery stores. On all other purchases, you get one percent cash back. The best part is that there’s no cap on the amount of cash you can earn.
The costs: You get a 12-month introductory zero percent APR. After that, the variable APR starts as low as 12.99 percent. There’s no annual fee, no foreign transaction fees, and no balance transfer fee.
At publishing time, Capital One No Hassle Cash Rewards is offered on Credit.com product pages and Credit.com may be compensated if our users apply for and ultimately sign up for the card. However, this relationship does not result in ANY preferential editorial treatment.