Best Cash Back Cards

Editor's Picks - Cash Back Cards:

Discover® MoreSM Card
Details
  • Introductory Purchase APR - 0% for 6 months
  • Standard Purchase APR - 11.99% to 18.99% variable
  • Introductory Balance Transfer APR - 0% for 12 months
  • Standard Balance Transfer APR - 11.99% to 18.99% variable
  • Cash Back - Up to 1% for regular purchases / 5% on rotating categories
  • Cash Back Caps - None
  • Cash Back Expiration - Cash back earned does not expire, but can be forfeited if you close the card, are inactive for 18 months or are late on your minimum payment in two consecutive billing periods.
Why we like this Cash Back Card
  • 5% Cash Back on Rotating Categories - Discover publishes the categories on which you will earn 5% cash back on their website. The 2009 calendar is currently available. This gives you a chance to time your purchases to maximize your cash back.
  • 0% Introductory Rate on Purchases - Not only do you get a good cash back program, you also have the option of not paying your new purchases off in for up to 6 months without incurring any finance charges.
What to watch
  • Tiered Cash Back on Regular Purchases - Because of the tiered cash back structure, you only earn 0.25% on your first $3,000 of annual regular purchases. Also, you only earn 0.25% cash back on all warehouse store purchases.
  • Standard Purchase and Balance Transfer APRs - On this cash back card, Discover is not committing to what your APR will be. It will be determined once you apply. While the 11.99% is an attractive rate, the 18.99% variable rate is pretty high. This uncertainty may be a drawback if you don’t pay your balance in full each month.
How to apply
Chase FreedomSM Card
Details
  • Introductory Purchase APR - 0% / 12 Months (please see “What to Watch” below)
  • Standard Purchase APR - 12.24%/16.24%/21.24% variable
  • Introductory Balance Transfer APR - None Offered
  • Standard Balance Transfer APR - 12.24%/16.24%/21.24% variable
  • Cash Back - 1%/3%/10% (please see “Why we like this card” below)
  • Cash Back Caps - None, earn unlimited cash back
  • Cash Back Expiration - Cash back earned does not expire, but can be forfeited if your account is closed or not in good standing
Why we like this Cash Back Card
  • Cash Back on Purchases - You earn 1% cash back on every dollar of net purchases. The card also gives you the opportunity to earn 3% on certain “rotating categories” like gas, groceries and home improvement purchases. These categories change from time to time. Also, you have the opportunity to earn up to 10% cash back if you shop through Chase’s website with certain merchants.
  • $50 Bonus Rebates with First Use - Chase is currently offering new Freedom Card Members a $50 rebate with their first purchase, balance transfer or check usage.
What to watch
  • No Introductory Rate for Balance Transfers - This cash back card is not good for you if you plan to take a balance transfer on day one.
  • Standard Purchase and Balance Transfer APR - Chase is not committing to what your APRs will be until your application is approved. If you get assigned to their “standard pricing” tier you may end up paying as much as 21.24%. Therefore, if you are not planning to pay this account off in full each month, this may not be the best card for you.
  • Grace Period - Chase only guarantees a 20 day grace period when you pay your balance in full each month, so pay that bill as soon as you get it.
How to apply
Capital One® No Hassle CashSM Rewards MasterCard®
Details
  • Introductory Purchase APR - 0% until May 2010
  • Standard Purchase APR - 14.90% variable
  • Introductory Balance Transfer APR - None Offered
  • Standard Balance Transfer APR - 14.90% variable
  • Cash Back - 1% on all regular purchases / 2% at gas stations and major grocery stores
  • Cash Back Caps - None, earn unlimited cash back
  • Cash Back Expiration - Cash back earned does not expire, but will be forfeited if your account is closed.
Why we like this Cash Back Card
  • Cash Back on Purchases - This cash back card features 1% on all net purchases and 2% on net purchases at gas stations and major grocery stores. There is no cap on how much cash back you can earn and your cash back rewards don’t expire.
  • 0% Introductory Rate on Purchases - Not only do you get a good cash back program, you also have the option of not paying your new purchases off in full until May 2010 without incurring any finance charges (just make sure you pay off in time or you’ll find yourself paying 14.9% or more!)
  • Customize Your Redemption - While you can call or go on line at any time to request your cash back check, you also have the option of setting an annual date on which you receive your check or a particular level of cash back earnings that trigger a check (at $25, $50, $100 or $200)
What to watch
  • No Introductory APRs for Balance Transfer - If you plan to do a balance transfer, this probably isn’t the right cash back card for you. Check out some of our other “Top Picks” for other options.
How to apply

See more of our best credit card selections in these additional categories: