Welcome guys today we are going to discuss some of the best cash back credit card available for 2018. We are going to compare seven Credit Cards. There cash back, rewards, annual fees and pros and cons. In the end, we will choose the which credit card will be best for your situation and best suited to your individual needs.
So let’s start…
Amazon Prime Rewards Visa Card
With Amazon Prime Rewards Visa Card this is a relatively new card but a must have if you are already a Prime member on Amazon. This is not actually a cashback as you don’t get cash in rewards. You rather get store credit which you can redeem at amazon.com. This is practically a cash back Credit Card because you can buy millions of items at Amazon at a very reasonable price.
With this card on every purchase made at Amazon and Whole Foods, you can get 5% back if you are a Prime member and 3% back if you are not a Prime member. Regardless you will get 2% back at restaurants, gas stations and drugstores and 1% on all other purchases.
There is no annual fee and you get $70 bonus when you sign up. If you are a Prime member and $50 if you’re not a Prime member. This 5% return is very impressive. Now that we are doing more and more of our shopping on Amazon.
If you are a Costco member then Costco Anywhere Visa Card by Citi might be right for you. With this you get 4% cashback on gas, three percent at restaurants and eligible travel purchases, two percent cash back on purchases made at Costco and one percent on all other purchases.
You have to be a Costco member to be eligible to get this Cash Back Credit Card though.
Chase Freedom Card
Chase Freedom Card, it offers 5% cash back on rotating bonus categories. Which in recent years have included gas stations, grocery stores, restaurants and wholesale clubs! You earn an unlimited 1% cash back on all other purchases.
The card comes with a cash signup bonus that’s fairly easy to reach. Earn a $150 bonus after you spend $500 on purchases in your first three months from account opening. Also, there is no annual fee.
Discover card also gives you exact same rewards as Chase Freedom.
5% cash back in categories that you activate on up to $1,500 in spending per quarter. All other purchases earn 1% cashback there is no annual fee.
As sign up bonus Discover will match all the cashback earned during the first year. But it’s worth noticing that Discover is not Universal like Visa and MasterCard and it will not be accepted in some places. You will have to keep another card with you just in case Discover is not accepted at some place.
With both Chase Freedom and Discover activating the bonus categories, each quarter can be a hassle. If you forget you don’t get your 5% rewards. If you don’t spend enough to maximize the bonus categories each quarter you might earn more rewards with another card.
Citi Double Cash Card
With Citi Double Cash Card, you get 2% cash back on every purchase. You get 1% when you make a purchase in 1% when you make the payment on the card. There are no caps or category restrictions. There is no annual fee. Also, you get $100 a signup bonus if you make $500 in purchases within the first three months of account opening.
this is a great credit card. if you just want a decent cash back and don’t want to take the hassle of revolving categories and caps.
Capital One Quicksilver Card
With Capital One Quicksilver Card you get 1.5% cash back on every purchase without any annual fee. Also, you earn a signup bonus of $150. If you spend $500 on purchases within three months from account opening. This is almost the same as the Citi Double Cash Card only with 1.5% cash back rather than 2%.
Chase Freedom unlimited also offers 1.5% on all purchases similarly and similar signup bonus.
American Express Blue Cash Everyday Card
American Express Blue Cash Everyday Card gives you 3% cash back at US supermarkets. With the cap of $ 6000. 2% at gas stations and selected US department stores and 1% on all other purchases. There is no annual fee.
There is an American Express Blue Cash Everyday preferred a card with higher rewards. But it carries an annual fee of $ 95. That’s worth considering as well if you have enough utilization. But beware as American Express is not universally accepted either. So you will need to keep another card with you at all times.
Now let’s see which cash back credit card will be best for your situation.
Best Cash Back Credit Card for Your Situation
If you are an Amazon Prime member then having Amazon Prime rewards card would do the job for you.
If you are a Costco member then Costco Anywhere Visa card offers some of the best rewards.
If you don’t want any hassles and just want to get a decent cashback without having to worry about activating different categories every quarter and not be limited by caps. Then Citi Double Cash Reward will be best for you.
Otherwise, if you don’t mind this hassle then attractive 5% cash back on revolving categories with Chase Freedom Card is difficult to ignore.
Also, it will not be a wrong choice to keep combinations of two or more Credit Cards if you can manage responsibly.
Every person’s needs are different… So take some time into your research before making the decision. Let me know in the comments which Credit Card would best suit your needs.
Read more about Credit Cards:
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- Learn How to Apply for a Credit Card Online Easily