When choosing a cash back credit card you should be aware of...
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Excellent Credit? Here are Your Best Cash Back Cards
If you have an excellent credit score, it usually means you’ve worked hard to establish a positive credit history, paid your bills on time, and managed your credit responsibly. It also usually means that you can qualify for nearly any type of credit card on the market. With a good credit rating, you have your pick among the hundreds of travel rewards and cash back credit cards.
Because of this, it’s important that you choose a credit card that rewards you for your excellent credit. You’ve worked all these years to build your score, so you deserve to get a little back. One way to get more out of your card is through cash back rewards programs. When you add in the rewards program and the card benefits, your card can be worth hundreds of dollars every month. Before you decide on the cash back card for you, take a look at some of our recommendations.
Best Cash Back Credit Cards with a High Limit
If you have a decent credit score, you probably don’t need to waste time with cards that only offer credit limits of a couple hundred dollars. With cards that provide high limits, you have more freedom when you make purchases, and when it comes to rewards programs, this usually equates to more cash back.
Although there is no guarantee of a high credit limit when you apply for a credit card (this is usually dependent on your credit score, income, and other factors) if you have excellent credit, you should expect a higher limit than normal.
Cards that typically include a high limit include the following:
| regular APR | |
- earn 6% back at US supermarkets (limited by $6000 spending annually, then 1%)
- 3% on gas and in selected department stores
- 1% back on all other purchases
- $150 sign up bonus after spending $1000 in purchases in the first 3 months
good credit required
$95 annual fee
up to 3-6% cash back
$150 intro bonus
Although the Blue Cash Preferred from American Express has a $95 annual fee, it is known for being one of the best cash back cards available. You earn 6% cash back at U.S. supermarkets up to $6,000 per year in purchases, 3% cash back at U.S. gas stations and U.S. department stores, and 1% cash back on other purchases. New cardholders can earn a bonus of $150 if you spend $1,000 with the card in your first 3 months.
Chase Freedom Unlimited
The Chase Freedom Unlimited card leads the pack in cash back credit cards with high limits. Plus, unlike other cards, you earn a flat rate of 1.5% on every purchase you make with the card. You can redeem your cash back for any number of things through Chase’s rewards portal. If you have the Chase Ink Business Preferred or Chase Sapphire Preferred travel rewards card, you can transfer points earned to those accounts from the Chase Freedom Unlimited. This card also offers a bonus of $150 if you spend $500 in the first 3 months, plus, $25 for making your first purchase and adding an authorized user to the account. This card has no annual fee.
| regular APR | |
- earn 5% on quarterly changing category up to $1,500 quarterly maximum in purchases
- 1% on all other purchases
good credit / fair credit required
no annual fee
5% cash back on selected quarterly category
high limits
The Discover it Cash Back Match card is another highly rated card in this category. This card offers cash back of 5% in categories that rotate every quarter, and 1% cash back on all other purchases. For new card members, Discover will match the cash back you have earned your first year, at the end of the year. This card also has no annual fee.
| regular APR | |
- 5% cashback on quarterly categories ($1,500 quarterly limit, then 1%)
- get $100 bonus after spending $500 on the card in the first 3 months
- get $25 on first added authorized card user
fair credit required
no annual fee
0% intro APR
5% cash back on quarterly categories
$100 intro bonus
Chase comes in at the top again with their Freedom card, giving them a leg up in the category. With no annual fee along with the ability to earn 5% cash back in bonus categories up to $1,500 per quarter and 1% cash back on every other purchase. As with the Unlimited card, new cardholders can earn a bonus of $150 for spending $500 in the first 3 months.
Cards with No Annual Fee
While an annual fee may not be a make it or break it part of choosing a credit card, not having to pay one is definitely a plus. As you can see, there are many cash back credit cards with no annual fee in the previous high limit category. Other cards that offer cash back rewards without annual fees include the following:
| regular APR | |
- get $100 bonus after spending $500 in the first 3 months
- earn 1.5% cash back on all purchases
excellent / good credit required
no annual fee
1.5% cash back
$100 welcome bonus
The Capital One Quicksilver Cash Rewards Credit Card is just one of Capital One’s no hassle options that doesn’t charge an annual fee. You earn an unlimited 1.5% cash back, which never expires, and there’s no minimum for redeeming the money you have earned. For new cardholders, they also offer a $100 cash bonus when you spend $500 in the first 3 months.
The BankAmericard Cash Rewards Credit Card is also a popular no-annual-fee cash back card. This card offers new cardmembers an online cash rewards bonus of $100 if you spend $500 in the first 90 days of opening the account. You also earn 3% cash back on gas, 2% on wholesale clubs and groceries, and 1% on everything else. Plus, you can earn a 10% bonus when you redeem directly into your Bank of America account.
| regular APR | |
- earn 1% cash back on all purchases
- get 1% more when you pay of your purchases in full on time
good credit required
no annual fee
1% cash back with no limitations
plus 1% more when you pay off balance in full
The Citi Double Cash Card has a slightly different rewards program. You earn 1% on purchases and another 1% when you pay for those purchases. There are no cash back limits and your rewards won’t expire. You can choose to redeem for gift cards, statement credits, or a check.
| regular APR | |
- get $100 for spending $500 on the card in the first 3 months
- 3% cash back on dining
- 2% on groceries
- 1% unlimited on everything else
excellent required
unlimited rewards 3% on dining, 2% on groceries, 1% on other purchases
$100 bonus for spending $500 on the card in the first 3 months
no annual fee
no balance transfer fee
One of Capital One’s newest cards is the Premier Dining Rewards card. This card also offers a $100 bonus if you spend $500 in the first 3 months of cardmembership. Plus, if you are a fine dining expert, this card may be worth it, since you get 3% back on dining out. You also earn 2% on groceries and 1% on everything else you buy. Another plus is there are no rotating categories and no need to sign up every few months just to get your rewards. This card also has no annual fee.
| regular APR | |
get $200 for spending $1000 on a card in the first 3 months
excellent required
no annual fee
earn 1.5% flat rate cash back on all purchases
get $200 bonus for spending $1000 on the card in the first 3 months
0% APR on purchases and balance transfers for 12 months
A card that hasn’t been featured often is the Wells Fargo Cash Wise Visa Card. Unlike the other cards, this one offers $200 in the first 3 months, but you have to spend $1,000. There are no revolving categories to worry about, because you earn 1.5% on virtually every purchase you make. You can also earn 1.8% cash back on mobile wallet purchases from Apple Pay and Android Pay during the first year. There is no annual fee for this card.
| regular APR | |
- earn 3% back at US supermarkets (limited by $6000 spending annually, then 1%)
- 2% on gas and in selected department stores
- 1% back on all other purchases
- $100 sign up bonus after spending $1000 in purchases in the first 3 months
good credit required
no annual fee
up to 2-3% cash back
Amazon Prime membership free
While the Blue Cash Everyday Card from American Express only offers $100 if you spend $1,000 in the first 3 months, they do make up for it with no annual fee. You also get 3% back at U.S. supermarkets, but only up to $6,000 per year, then it drops to 1%. All other purchases also earn 1% cash back.
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