Best cash-back credit cards for October 2022

Blue Cash Preferred Card from American Express: Best for gas and supermarkets

Another rewards credit card with some intriguing bonus categories is the Blue Cash Preferred Card from American Express. This is a great all-around cash-back card because it earns solid cash back on categories that don’t always get a lot of attention from other cards. When Amex added streaming services and transit to this card’s bonus categories, it got a major bump in value. Just remember that it charges a 2.7% foreign transaction fee (see rates and fees), so while it’s a great option for use in the U.S., you shouldn’t use it when you’re traveling abroad.

TPG’s Staff Pick: “The Blue Cash Preferred Card is the card I recommended to my parents when they were looking for a new cash-back rewards card for their groceries. My parents prefer the simplicity of cash-back rewards and I knew they’d benefit from earning 6% cash back on up to $6,000 per year in purchases at U.S. supermarkets (then 1% after). Compared to the 1.5% cash back they were earning on these purchases, the elevated earnings easily justified adding the Blue Cash Preferred to their wallet.” – Katie Genter, Writer

Related: Blue Cash Preferred Card from American Express review

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Official application link: Blue Cash Preferred Card from American Express.

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Wells Fargo Active Cash® Card: Best rewards rate for a cash rewards card 

The Wells Fargo Active Cash makes credit card rewards straightforward for those who want to avoid an annual fee altogether. Its 2% earning rate on purchases is solid since there’s no limit to how much cash rewards you can accrue. 

Plus, by simply paying your monthly bill with your Active Cash card, you’ll receive up to $600 of complimentary cell phone protection in case of damage or theft (subject to a $25 deductible). 

The information for the Wells Fargo Active Cash card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

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Capital One Quicksilver Cash Rewards Credit Card: Best for flat-rate cash back

The Capital One Quicksilver Cash Rewards Credit Card is a no-fuss card with a 1.5% cash back rate no matter the purchase. You won’t have to worry about paying foreign transaction fees or an annual fee with this card. 

As with the other Capital One cards on this list, your rewards will never expire if you keep your account open.

Related: Capital One Quicksilver review

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Official application link: Capital One Quicksilver.

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Chase Freedom Unlimited: Best for bonus categories

In addition to a great bonus and earning structure, the Chase Freedom Unlimited offers a 0% APR introductory period for 15 months from account opening on new purchases (17.24% – 25.99% Variable APR applies after). This way, you can earn cash back while financing large purchases — just make sure you’re paying off your balance before the end of the intro APR period to avoid paying interest.

The Chase Freedom Unlimited earns 5% back on travel booked through Chase Ultimate Rewards, 3% on dining and drugstore purchases and 1.5% on all other eligible purchases.

It’s also a great card to pair with your existing Chase credit cards to earn cash back on non-bonus spending — in fact, it makes up one-third of the Chase Trifecta. If you have an Ultimate Rewards credit card, such as the Chase Sapphire Preferred Card or Chase Sapphire Reserve, you can combine rewards and take advantage of 25% to 50% Chase travel portal redemption bonuses and transfer partners. Since TPG values Ultimate Rewards points at 2 cents each, you’ll get a 3% return on all non-bonus spending when you pair the Freedom Unlimited with a Chase Ultimate Rewards card.

Related: Chase Freedom Unlimited review

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Official application link: Chase Freedom Unlimited.

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Citi Double Cash Card: Best for balance transfers

One of the simplest and most rewarding cash-back cards out there is the Citi Double Cash Card. This card gives you 1% cash back when you buy and then another 1% as you pay. You only need to make the minimum payment each month to earn the second reward, but remember that paying your balance in full is always strongly recommended. Cardholders can now convert the cash back they earn to ThankYou Points via a linked ThankYou card such as the Citi Prestige® Card and Citi Premier® Card. The information for the Citi Prestige has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

This converts into an effective 2 points per dollar earning rate on all purchases. TPG values ThankYou points at 1.8 cents each, meaning this card would effectively get a 3.6% return on all purchases. 

Related: Citi Double Cash Card review

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Official application link: Citi Double Cash.

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Bank of America Unlimited Cash Rewards credit card: Best for Preferred Rewards Members

While you can earn 1.5% cash back on all your purchases with the Bank of America Unlimited Cash Rewards card, you can boost your earnings if you qualify for the issuer’s Preferred Rewards program. Depending on your membership tier, you could earn 1.875% to 2.625% cash back on all your purchases — one of the best returns you’ll find for a no-annual-fee card.

Related: Bank of America Unlimited Cash Rewards credit card review

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Official application link: Bank of America Unlimited Cash Rewards credit card.

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Capital One Spark Cash Plus: Best business card for unlimited cash back

The Capital One Spark Cash Plus is a business card that offers 2% cash back rewards on all eligible purchases. 

This card is best suited for businesses with thousands of dollars in operating expenses for two reasons. You’ll have to spend at least $7,500 on the card to recoup the $150 annual fee in rewards, and the Spark Cash Plus has no APR since your balance is due in full every month.

Related: Capital One Spark Cash Plus review

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Official application link: Capital One Spark Cash Plus.

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Blue Cash Everyday® Card from American Express: Best for beginner cash back

Beginners to the rewards game will appreciate the Blue Cash Everyday’s no annual fee (see rates and fees) and simple cash-back structure. You’ll also get 0% intro APR (see rates and fees) on purchases for 15 months from the date of account opening, then a variable APR, 16.99% to 27.99%; (see rates and fees). While it’s certainly not as lucrative from an earning perspective as the Blue Cash Preferred, it is a great option for those just jumping into the cash-back game for the first time.

Related: Blue Cash Everyday Card review

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Official application link: Blue Cash Everyday Card. 

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Ink Business Cash: Best for small businesses

The Ink Business Cash is one of the most rewarding business cash-back cards. It offers an impressive 5% earning rate on the first $25,000 spent each account anniversary year at office supply stores and on internet, cable and phone services. You’ll also earn 2% on the first $25,000 spent each same account anniversary year at gas stations and restaurants and 1% on all other eligible purchases. 

With no annual fee, the Ink Business Cash is a nice introduction into the world of Chase Ultimate Rewards. If you wish, you can turn those cash-back rewards into fully transferable Ultimate Rewards points if you also carry the Chase Sapphire Preferred Card, Chase Sapphire Reserve or the Ink Business Preferred Credit Card. 

Related: Ink Business Cash review

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Official application link: Ink Business Cash.

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Bank of America Customized Cash Rewards: Best cash back for online purchases

The Bank of America Customized Cash Rewards allows cardholders to earn 3% back on their top spending category — which you can change on a monthly basis. One of these is online shopping, which is a category that many other cards do not offer bonus points for. 

You’ll also earn 2% cash back at grocery stores and wholesale clubs (another purchase category that tends to not get much love). Note that the 3% and 2% earning rate only applies up to the first $2,500 spent cumulatively each quarter (then 1% thereafter). 

Related: Bank of America Customized Cash Rewards review

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Official application link: Bank of America® Customized Cash Rewards credit card

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Capital One SavorOne Cash Rewards Credit Card: Best for entertainment cash back 

Whether you’re a city dweller or a foodie (or why not both!), the Capital One SavorOne offers some serious rewards for your everyday purchases — all for no annual fee. You’ll earn 3% cash back on dining, entertainment, popular streaming services and at grocery stores, plus 1% on all other eligible purchases.

You can even bring the SavorOne along with you on your international travels as this card doesn’t charge any foreign transaction fees. Finally, your rewards will never expire as long as you keep your account open. 

Related: Capital One SavorOne review

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Official application link: Capital One SavorOne.

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Citi Custom Cash℠ Card: Best for flexibility

As the name suggests, this card is meant to be customized to fit your lifestyle. It earns 5% cash back on up to $500 in purchases each billing cycle on your top spending category (then 1% thereafter).  The 10 eligible categories include things like grocery stores, restaurants, gas stations, gym memberships and home improvement stores.

If you maximize the cash-back earnings each billing cycle, you could earn up to $300 in cash-back rewards each year. This is a pretty great offering for those who want to maximize their everyday purchases but have a hard time fitting their budget into other cards’ bonus categories. 

Related: Citi Custom Cash Card review

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Official application link: Citi Custom Cash.

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Cash-back credit cards that require a membership

Some credit cards have specific membership requirements. The following cards can be good options, but I’ve left them off the main “best cash-back cards” list due to their membership requirements:

• Costco Anywhere Visa® Card by Citi: 4%  cash back on eligible gas and EV charging purchases (on up to $7,000 per year; then 1% thereafter), 3% on restaurants and eligible travel purchases and 2% at Costco. The card has no annual fee if you have a paid Costco membership.
• Fidelity Rewards Visa Signature Card: 2% on all purchases with no annual fee (must have a specific Fidelity account).
• Sam’s Club Mastercard: 5% on gas (on up to $6,000 per year, then 1% thereafter) and 3% on dining and travel. The card has no annual fee. You must have a Sam’s Club membership and visit Sam’s Club location to redeem. Cash back is capped at $5,000 annually).
• USAA Cashback Rewards Plus American Express® Card: 5% on the first $3,000 on combined gas and U.S. military base purchases annually. Earn 2% on the first $3,000 on grocery purchases annually with no annual fee (must be a USAA member).
• Amazon Prime Rewards Visa Signature Card: 5% return on Amazon and Whole Foods purchases, 2% back on restaurants, gas stations and drug stores (must be an Amazon Prime member).

The information for the Fidelity Rewards Visa, Sam’s Club Mastercard, USAA Cashback Rewards Plus American Express® Card and Amazon Prime Rewards Visa Signature has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

Research methodology: How we choose the best cash-back credit card

Choosing the best cash-back credit card for you can take a lot of research. At TPG, we try to make the research process as simple as possible. We spend hours combing through the credit cards available from our partners and outside our network, comparing them to see which cards offer the best return for readers. Here are a few of the factors we look at when choosing the credit cards on our best cash-back cards guide:

• Cash-back rates – First and foremost, we look at which cards can help you earn the most cash back in top spending categories such as groceries, gas, and everyday spending.
• Sign-up bonus – What kind of sign-up bonus cards offer is another factor we consider when choosing our cards. While having a bonus isn’t a requirement to make the list, a sign-up bonus can greatly increase the overall value of a card in its first year.
• Annual fee – We make sure we include cards that have no annual fee and some that do come with an annual fee in exchange for higher cash-back rates. Whether your budget can justify paying an annual fee or not, you’ll find a great card for you in our guide.
• 0% APR periods – Many top cash-back cards come with a set period of time when new purchases, balance transfers or both come with a 0% APR intro period. For anyone looking to consolidate debt or finance a large purchase, these cards are excellent ways to earn money while saving on interest rates.
• Pairability – We also consider how these cards fit into a larger credit card strategy. Can you convert your cash back to transferable currencies within the card family? Does it compliment the spending categories of other cards? These are questions that help determine how “pairable” a card is with others.

How do cash-back credit cards work?

Cash-back cards reward you a percentage (usually somewhere between 1% and 5%) of each purchase. Those earnings are pooled into an account as cash back, which you can then use as a statement credit or deposit into your bank account. Cash back offers a more straightforward way of earning and redeeming cash back compared to points and miles.

Rather than having to keep up with point valuations and transfer partners, you always know what you’re getting with cash back in terms of value and redemption options. However, this can also mean that cash back is more limited. Points and miles can often be redeemed at a far greater value than just 1 cent per point. But if you’re looking for an easy way to accrue earnings that can be used for anything, cash can be the best option.

Common types of cash-back credit cards

With so many cash-back card options, it can be hard to narrow down which card might be right for you. To start, I would take a look at which type of cash-back card you want. Here are a few common types and the advantages of each:

• Flat-rate: These are cards that earn the same cash-back rate across all spending. An example is the Citi Double Cash because you’re earning the same 2% across all categories (1% when you make purchases, 1% as you pay your bill). A flat-rate card is great for everyday spending because you don’t have to juggle specific bonus categories. Still, it does limit your earning potential in popular categories such as dining or travel.
• Tiered: Similar to most travel credit cards, these cash-back cards offer higher bonus earnings for specific, static categories. For example, the Amex Blue Cash Preferred offers 6% cash back on one set of categories, 3% on others and 1% on non-bonus spending. While these cards are excellent for maximizing cash back for categories you spend a lot on each month, you won’t necessarily earn bonus cash back on every purchase. These are best to pair with a flat-rate or complementary tiered card.
• Rotating categories: Rotating category cards typically offer 5% cash back on certain categories that shift every quarter. The Chase Freedom Flex and Discover it Cash Back are both examples. While 5% is an excellent bonus rate, keep in mind that these cards typically limit your bonus earning to $1,500 each quarter you enroll and you have to activate new categories each quarter.
• Choose-your-categories: A newer cash-back category that has sprung up in recent years is the choose-your-categories cash-back card. These cards allow you to choose the category (or categories) that you earn your bonus earnings each month. I personally love these cash-back cards because they allow you to customize your cash-back structure in a way other cards do not. This type of card is great if your spending habits change throughout the year. The Bank of America Customized Cash Rewards credit card is one example of such a card.

The information for the Discover it Cash Back card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

How to choose a cash-back credit card

What things should you look for when you’re comparing credit cards that offer cash back? Here are some factors to consider:

• Earning rates: How much cash back will you earn? Is it consistent across all purchases, or does the card restrict the best rates to specific types of purchases? Since cash back, by definition, provides you with money to go back in your wallet, there isn’t any way to truly “maximize” the points or miles you earn. Instead, be sure to evaluate the exact earning rates compared to your typical spending patterns.
• Ease of redemption: Not all cash-back cards are created equally when it comes to actually getting the cash in your hands or bank account. Some post earnings automatically to your statement, while others earn you points/miles that can then be redeemed for cash back or for statement credits to offset specific purchases. Be sure to carefully read the terms and conditions of the issuer program, so you know how (and when) you’ll actually get the funds.
• Additional perks: A third factor involves the additional card perks and features. Does it incur foreign transaction fees? What about coverage and added protection for your purchases or trips? These benefits can add significant value to a card.
• Annual fee: A final aspect to consider is any possible annual fee. Some cash-back cards don’t charge an annual fee, but others do. It’s critical to crunch the numbers to see if the card’s earning rates offset the annual fee.

What credit card gives the most cash back?

While there is no single cash-back credit card that gives you the most cash back everywhere you spend your money, there are credit cards that can help you maximize cash back in various spend categories. Here are a few examples:

• U.S. supermarkets: Blue Cash Preferred® Card from American Express – 6% cash back on up to $6,000 per calendar year in purchases, then 1%.
• Gas: Bank of America® Customized Cash Rewards credit card – 3% on the category of your choice (one of the choices includes gas stations) for up to $2,500 per quarter in combined purchases including 2% categories; then 1%.
• Dining out and entertainment: Capital One Savor Cash Rewards Credit Card — 4% on dining, entertainment and popular streaming services.
• Rotating categories: Chase Freedom Flex – 5% return on up to $1,500 each quarter you activate.
• All categories: Citi® Double Cash Card – 2% cash back on all purchases. Earn 1% as you make purchases and 1% as you pay them off.

The information for the Capital One Savor card has been collected independently by The Points Guy. The card details on this page have not been reviewed or provided by the card issuer.

How to maximize cash-back credit cards

1. Maximize your spending categories

One of the simplest ways to get the most out of your cash-back credit card is by maximizing your bonus categories. If you have a Blue Cash Preferred Card from American Express, then you should make sure that it is at the front of your wallet on every trip to the U.S. supermarket for a hefty 6% cash back at the register. And if you only have a credit card that earns flat-rate cash back like the Citi Double Cash Card, then you can’t go wrong using your card on all everyday expenses for a sizable 2% cash back (1% when you buy, plus 1% as you pay) on your transactions across the board. And if your card earns bonus cash back on categories that rotate throughout the year, then be sure to check the latest calendar for your quarterly savings.

2. Pay your card in full and avoid fees

This is a given regardless of what type of credit card you have. But if you want to make the most out of your cash-back credit card and ensure you’re maximizing your savings, then keeping a balance on your card is never a good idea. As always, use your card only insomuch as you have the money to pay it off every month on or before the due date.

3. Bonus cash-back offers

Issuers may offer additional cash back for spending on select purchases. Amex Offers and Chase Offers likely come to mind as eligible cardholders are able to opt into earnings not typically offered for that particular card. These offers could range from an additional few percentage points of cash back at your local Starbucks to extra savings on your Amazon spend just in time for the holidays. Offers are targeted to your specific account and there is no limit to the number of offers you can add to your card at one time.

4. Opt for a no-annual-fee card if you’re a low spender

While getting a credit card with an annual fee can seem daunting, the higher cash-back rates do offset the annual fee in most cases. But if you aren’t going to be putting much on your card in a given calendar year anyway, then you won’t be able to maximize your cash back with a card that has an annual fee. If you currently have a credit card with an annual fee that you aren’t able to maximize anymore given changes in your spending habits, then you can always call your issuer and ask if there is an option to downgrade to a no-annual-fee alternative.

Are cash-back credit cards worth it?

In short, yes. Cash-back credit cards can be a valuable addition to your wallet. While we tout points as the most valuable currency out there most of the time, it’s never a bad idea to have a cash-back credit card in your collection that earn in your most frequent spend categories.

At the end of the day, cash-back credit cards are only worth it if you spend more than the cost of holding the card itself. If the cost of the card is $0 and you pay off your statements in time every month, then you’ll always end up in the green with your savings. If the card does have an annual fee, then tracking the amount you save vs. the cost of holding the card every year will help you determine if that specific cash-back card is worth it for you.

Bottom line

The credit card game isn’t all or nothing when earning miles or cash back. You can have a card for each or even a card that does a little bit of both.

Cash-back cards have played an integral role in my overall credit card strategy, helping me offset the cost of travel expenses that points and miles don’t cover. Plus, there’s no doubt that earning cash back can be simpler and easier to quantify — something casual travelers and beginners can both appreciate.

Additional reporting by Hayley Coyle.

Featured image by Isabelle Raphael/The Points Guy.

For rates and fees of the Blue Cash Preferred, please click here.

For rates and fees of the Blue Cash Everyday, please click here.