Money Blue Book

Updated List Of The Best Cash Back Credit Card Offers Below!

As I indicated in the past, I’m a big fan of integrated credit card reward programs like Citi Card’s Thank You Rewards Network. I like how all of their reward credit cards generate Thank You rewards that can be pooled into one source and later redeemed for rewards like cash back, statement credit, airline tickets, and popular merchandise. Years ago, you could get a higher cash back percentage with your credit cards, but times have changed as companies have cut and reduced their cash back benefits in favor of encouraging reward point usage. But many people still prefer to stick with cash back cards. Cash back rebates are easier than reward points to understand and despite the slightly lower percentage back offered by the former, many people still favor the convenience and simplicity that cash back reward credit cards provide.

People Like Cash Back Cards Because They Are Much Easier To Use and Redeem Than Reward Cards

I personally don’t mind using credit cards that offer reward points, but I’ll admit that it does involve more micromanaging. I’ve been accumulating Citi Thank You rewards for more than a year now and have accumulated a substantial stockpile of points, enough for an international airplane ticket to Asia and more. But the process requires me to monitor my point progression to ensure my points are not near expiration since accrued reward points do expire after some time if not timely redeemed.

Upon close inspection of all credit card reward and cash back programs, it’s apparent that a prudent user who doesn’t mind some extra work will find that reward point cards tend to yield a slightly higher percentage back. Unlike cash back credit cards, reward point cards do usually require you to keep track of your own tallies and affirmatively submit a request when you qualify for point redemption. But despite the higher returns, some people still find the redemption procedure of reward cards to be too much trouble – instead, preferring the simplicity of automatic cash back credit. It’s true – with cash back credit cards there is no hassle. When you charge something, you automatically get a portion back as statement credit or a cash back check after a certain period of time. You don’t have to do anything extra because the whole cash rebate earning process is usually automated.

Well after much research, here’s what I’ve come up with. The best cash back credit card is definitively either the Chase Freedom or Blue Cash From American Express, but there are several good choices as well.

My List of The Top Credit Cards That Provide The Best Cash Back Reward Percentages:

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1. Discover More Card and Discover More Clear Card – Earn up to 5% cash back for Get More purchases made in categories that change throughout the year, like groceries, travel, home, apparel, gas, restaurants, and movies. Earn up to 1% cash back for the first $3000 worth of purchases.
2. Chase Freedom Credit Card – Earn 3% cash back in rotating categories such as gas, groceries, drug stores, home improvement, department stores, and more. Get up to 10% cash back and even up to 20% cash back at select merchants when shopped online via Chase. You get 1% cashback for everything else with no spending tiers, no earning caps, and no cash rebate expiration. Special Offer: $50 sign up bonus.
3. True Earnings Card From Costco and American Express – This very popular Amex card offer from Costco allows you to earn 3% cash back on gas and restaurant purchases, 2% back on travel related purchases, and 1% cash back everywhere else. As a special introductory offer, you also get a free $25 bonus after your first card purchase. Currently there is no annual fee with a paid Costco membership.
4. Discover Motiva Card – Earn up to 1% cash back on all of your purchases, plus get one month’s interest refunded back to your account every time you make your card payments on time for 6 consecutive months. This card program actively incentivizes and encourages you to pay on time by rewarding you when you do so. There is no annual fee to contend with.
5. American DreamCard MasterCard – The American Dream Card (provided by HSBC) is not your typical direct cash back reward card, but it offers something similarly attractive in return. Rather than getting a mere rate of 1% or 3% cash back on all of your daily purchases, for every single dollar you spend with the card, you earn a single entry into the American Dream Card monthly prize drawing, with the chance to win at least $25,000 or more each time depending on the total amount of charges by all entrants during the period. The more frequently you use the card, the higher your chances of hitting the recurring monthly jackpot.
6. Discover Open Road Card – Earn a full 5% cashback reward rate on your first $100 in gas and auto maintenance purchases every month, and up to 1% cash back on all other purchases. Enjoy 0% balance transfer benefits for the first 6 months with no annual fee.
7. Capital One® No Hassle Cash(SM) Rewards Card – 2% cash back on purchases at gas stations and major grocery and drug stores, and 1% cash back on all other purchases. There is no limit to how much cash back rewards you can earn, nor is there an expiration date.
8. Blue Cash® From American Express – Earn up to 5% cash back for everyday purchases, and up to 1.5% for everything else when you exceed $6,500 worth of usage. Before that you’ll earn 1% cash back. Everyday purchases include supermarkets, drugstores, and gas stations.
9. HSBC Weekend Card – Earn 2% cashback rewards on everything you buy on Saturday and Sunday, hence the very unique Weekend credit card name. The double cashback earnings rate for all purchases lasts all weekend long. During the normal weekday, you get 1% cash back for everything. With this very interesting credit card offer from HSBC, you get the the ability to earn unlimited cash back rewards with no limits.
10. HSBC Platinum Mastercard Cash Back Rewards - Earn up to a potential of 2% cash back on everything you buy (no special category restrictions). Depending on application and qualification level, you may either have the ability to earn unlimited rebate rewards at 1% cashback, or up to $400 worth of rewards at 2% back. The card also offers a 12 month 0% APR promotional offer for all purchases and balance transfers.
11. Bank of America Accelerated Cash Rewards American Express – Earn 1.25% cash back on all net retail purchases. Enjoy an introductory 0% APR interest offer on all balance transfers and direct deposits for 12 billing cycles. There is no annual fee.
12. Bank of America Cash Rewards Platinum Plus Mastercard – Earn 1% cash back on all purchases with this pure Bank of America cash rewards credit card. There is no limit to how much cash back you can tally up. Cardholders also get a 0% APR interest offer on balance transfers and direct deposits for the first 15 billing cycles.
13. Bank of America Financial Rewards Platinum Plus – Earn the equivalent of 1% cash back on all purchases and the equivalent of 2% back on all balance transfers made. There is no annual fee.
14. Fidelity Investment Rewards Visa Signature Card – Earn 1.5% back on all purchases. With this card you earn a point for every dollar spent. When you’ve accumulated 5000 points, the total points can be instantly converted into $75 cash and deposited into your Fidelity Investment brokerage account for an effective 1.5% redemption rate. The Fidelity credit card offers the same competitive purchase rebate percentage for all purchases.
15. Advanta Net 90 Platinum Business Card – This card is definitely not your usual straight cash back credit card offer and there is no other program out there quite like it. The permanent 90 day interest free rolling offer on all credit card purchases advertised by this program is not a limited one time introductory offer, but a constant year after year feature. Not only do you get to earn the equivalent of 1% cashback on all purchases made (1 point for each $1 of card usage) with no limit on reward earning potential, cardholders also enjoy a 3 month (90 days) grace period on their bill. What this means is that as the cardholder, you are exempt from paying any interest on new purchases until after 90 days – that’s a whole quarter worth of savings, thanks to this very attractive Advanta Platinum card offer.

This entry was posted on Sunday, December 16th, 2007 at 1:00 pm and is filed under Credit Cards, Deals and Offers. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.