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Highest Cash Back Credit Cards
7 min read
Want great rewards? How about simple redemption systems that let you get those rewards quick and easy?
We’ve rounded up the most rewarding cash back credit cards on the market. They offer 5% back or more for certain purchases, a pretty significant discount you can take advantage of over and over again.
5% cash back means you’ll get a minimum 5% return on your spending, usually in the form of a statement credit. Spend $100, get $5 in cash back.
If you want to earn a little back for every purchase you make, these cards should be on your radar.
Insider tip
Cash back cards usually aren’t too complicated, but if you really want to maximize your credit card, there are some ways to boost the value of the cash back rewards you earn in some cases. We’ll show you how.
What’s the Highest Cash Back Credit Card?
Here’s a quick summary of the six cards with the highest cash back rates:
- Blue Cash Preferred® Card from American Express (Review): 6% cash back at U.S. supermarkets (up to $6,000 per year) and select U.S. streaming services
- Discover it® Cash Back (Review): 5% cash back in rotating bonus categories (up to $1,500 per quarter, activation required); double cash back the first year
- Chase Freedom® (Review): 5% cash back on Lyft, grocery stores, and in rotating categories (up to $1,500 per quarter for rotating categories); opportunities to increase reward value
- U.S. Bank Cash+™ Visa Signature® Card: 5% cash back in your choice of two categories (up to $2,000 per quarter)
- Amazon Prime Rewards Visa Signature Card (Review): 5% cash back at Amazon.com and Whole Foods Market
- Ink Business Cash℠ Credit Card (Review): 5% cash back on Lyft, office supplies, and internet, cable, and phone services (up to $25,000 per year for certain categories)
Blue Cash Preferred® Card from American Express
securely on the issuer's website
- Earn a $250 statement credit after you spend $1,000 in purchases on your new Card within the first 3 months.
- 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%).
- 6% Cash Back on select U.S. streaming subscriptions.
- 3% Cash Back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more). 1% Cash Back on other purchases.
- Low intro APR: 0% for 12 months on purchases from the date of account opening, then a variable rate, currently 13.99% to 23.99%.
- Plan It® gives the option to select purchases of $100 or more to split up into monthly payments with a fixed fee and no interest.
- Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit.
- $95 Annual Fee
- Terms Apply.
- See Rates & Fees
American Express is a Credit Card Insider advertiser.
Groceries and gas are necessities. Why not have a card that’s great for both?
The Blue Cash Preferred® Card from American Express (Review) delivers, offering the best rate you’ll find at U.S. supermarkets along with a competitive rate for gas.
As for the other bonus categories, they’re nothing to sneeze at, either: Transit covers rideshares like Uber and Lyft, and who doesn’t use at least one streaming service? (The list of eligible services is extensive, covering all the usual suspects like Netflix, Amazon Prime Video, and Hulu, and then some.)
| Spending Rewards |
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| Introductory Bonus Offer |
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Key Features
- Amex Offers: Discounts or extra cash back at a changing selection of retailers
- Complimentary ShopRunner membership: Register with ShopRunner for free two-day shipping and returns at select online retailers.
- Entertainment Access: Exclusive discounts to dining events, concerts, sports, and shows
- Shopping and travel protections: Purchase Protection, Return Protection, Extended Warranty, Car Rental Loss and Damage Insurance
- Purchase APR: 0% for 12 months, then 13.99–23.99% Variable
- Annual fee: $95
Insider tip
If the Blue Cash Preferred looks good but you don’t spend too much in its categories, consider the Blue Cash Everyday® Card from American Express (Review). It’s a similar card with no annual fee and lower cash back rates. (Rates & Fees)
Discover it® Cash Back
The Discover it® Cash Back (Review) boasts a unique offer that puts it near the top of the cash back pecking order. Like all Discover credit cards, not only will you get handy reward categories for no annual fee — you’ll also get double cash back for every purchase in your first year.
That’s an excellent find on a card that gives you 5% cash back on a changing selection of purchases, which rotates every three months and typically includes everyday expenses like groceries, gas, and dining. Check out the 2020 categories below, with 2019’s for comparison.
After the first-year bonus you’ll end up with an unrivaled 10% cash back! And non-category purchases will cash out at 2% back, on par with the very best flat-rate cash back cards.
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| Quarter | 2020 Categories | 2019 Categories |
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| January – March |
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| April – June |
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| July – September |
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| October – December |
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Key Features
- Free FICO credit score: Track your FICO Score 8 over time, based on your TransUnion credit report.
- Social Security number alerts: Get notified if your SSN is found on any thousands of risky websites.
- New account and inquiry alerts: Activate alerts to see if any new accounts or credit inquiries appear on your Experian credit report.
- Purchase and Balance Transfer APR: See Terms for See Terms, then See Terms
- No foreign transaction fee
- Annual fee: $0
Insider tip
In college? There’s another card made for you in Discover’s lineup, with the same great rewards program: Discover it® Student Cash Back (Review).
Chase Freedom®
securely on the issuer's website
- $200 bonus for spending $500 in the first 3 months
- Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter!
- Unlimited 1% cash back on all other purchases – it’s automatic
- 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99% - 23.74% Variable
- No annual fee
- Cash Back rewards do not expire as long as your account is open and there is no minimum to redeem for cash back.
- Free credit score, updated weekly with Credit Journey℠
Like the Discover card above, the Chase Freedom® (Review) provides 5% back in categories that switch every three months. In this case you’ll also earn 5% back on grocery stores and Lyft purchases, a timely addition as rideshares become more popular.
5% is a great rate, but here’s a neat trick to get an even better return on your spending. If you also have certain other cards in the Chase Ultimate Rewards family, like the Chase Sapphire Preferred® Card (Review) or Chase Sapphire Reserve® (Review), you can expand your redemption options by transferring your rewards from the Freedom over to that other card, where they can be worth more.
Rather than getting $1 in value for every $1 in cash back, like you normally would, you could get $1.25, $1.50, or even $2.00 or more through point transfers to partner airlines and hotels. That’d boost your cash back equivalent with the Freedom to upwards of 6.25%, 7.5%, or even 10% — not too shabby, but it takes a bit of extra work.
| Spending Rewards |
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| Quarter | 2020 Categories | 2019 Categories |
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| January – March |
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| April – June |
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| July – September |
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| October – December | TBA |
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Key Features
- DoorDash membership: Get a free membership (DashPass) for three months, and a 50% discount for the next nine months; a DashPass provides free delivery and reduced service fees on orders over $12.
- Shop through Chase/Chase Offers: Earn extra cash back or find discounts with the Shop through Chase and Chase Offers programs.
- Visa Signature Concierge: Call your concierge anytime for non-emergency help with reservations, finding gifts, travel plans, and more.
- Shopping and travel protections: Purchase Protection, Extended Warranty Protection, Auto Rental Collision Damage Waiver, Trip Cancellation/Trip Interruption Insurance, Travel and Emergency Assistance, Roadside Dispatch
- Purchase APR: 0% for 15 months, then 14.99% - 23.74% Variable
- Balance Transfer APR: 14.99% - 23.74% Variable
- Annual fee: $0
U.S. Bank Cash+™ Visa Signature® Card
securely on the issuer's website
- Earn up to $550 cash back in the first year.
- $150 bonus after spending $500 in eligible net purchases within the first 90 days of account opening.
- 5% cash back on your first $2,000 in combined eligible net purchases ($100 per quarter) on two categories you choose. That adds up to $400 cash back!
- 2% cash back on your choice of one everyday category, like gas stations or grocery stores.
- 1% cash back on all other eligible net purchases.
- No limit on total cash back earned.
- 0% Intro APR* on balance transfers for 12 billing cycles. After that, a variable APR currently 13.99% – 23.99%
- No annual fee*
- Great Offer from U.S. Bank, a 2020 World’s Most Ethical Company® – Ethisphere Institute, February 2020
Sick of credit cards that are always bossing you around, telling you where to shop to get the best rewards?
The U.S. Bank Cash+™ Visa Signature® Card gives you the freedom to pick two (!) 5% cash back categories every three months, out of a healthy selection that includes common expenses like ground transportation along with rare finds like home utilities, department stores, furniture stores, and streaming services.
If you’re the type to plan out big purchases in advance, you can adjust your 5% bonus rewards to fit. This could work especially well with furniture, electronics, and clothing.
Don’t forget about the 2% options: You can choose one “everyday” category to fill out your rewards program. But this rate is on the low end, so you may want to consider a different rewards credit card for that kind of spending.
| Spending Rewards |
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| 5% Cash Back Categories | ||
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| Ground Transportation | Fast Food | Cell Phone Providers |
| Department Stores | Home Utilities | Select Clothing Stores |
| Electronics Stores | Sporting Goods Stores | Movie Theaters |
| Gyms/Fitness Centers | Furniture Stores | TV, Internet & Streaming Services |
| 2% Cash Back Categories | ||
|---|---|---|
| Gas Stations | Grocery Stores | Restaurants |
Key Features
- Free credit score: See your VantageScore 3.0 based on your TransUnion credit report.
- Visa Signature Concierge: Call for personal assistance with travel bookings, dining reservations, business services, and more.
- Visa Signature Luxury Hotel Collection: Get perks at select hotels like a $25 food and beverage credit and room upgrades when available.
- Shopping and travel protections: Purchase Security, Extended Warranty, Auto Rental Collision Damage Waiver, Roadside Dispatch
- Purchase APR: 13.99% - 23.99%* Variable
- Balance Transfer APR: 0% for 12 billing cycles on Balance Transfers*, then 13.99% - 23.99%* Variable
- No foreign transaction fee
- Annual fee: $0*
Amazon Prime Rewards Visa Signature Card
Amazon Prime Rewards Visa Signature Card
Details
securely on the issuer's website
- Requires active Prime membership
- Cash back can be redeemed for statement credits or at Amazon.com checkout
- Earn 5% back at Amazon.com and Whole Foods Market
- Earn 2% back at gas stations, restaurants, and drugstores
- Earn 1% back on all other purchases
- Get a $70 Amazon.com Gift Card instantly upon credit card approval
There are a handful of Amazon credit cards, but the Amazon Prime Rewards Visa Signature Card (Review) is best for your average Amazon aficionado.
Cardholders earn 5% back on every Amazon purchase, which can add up to some great savings alongside the free shipping and deals you can get with Amazon Prime. Whole Foods Market is included at that rate, too (thanks to Amazon buying the grocery chain).
There are some useful 2% categories tagging along as well (drugstores made the list, which you don’t often see). The card is even made with metal, which is a bit more fun than your average plastic card.
You’ll need Amazon Prime to get and use this card; if you don’t have Prime, or if you cancel the subscription, you’ll get the less-impressive Amazon Rewards Visa Signature Card (Review). It may not be metal, but it’s still a solid card.
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Key Features
- Visa Signature Luxury Hotel Collection: Perks at eligible hotels, including complimentary WiFi, room upgrades when available, a $25 food and beverage credit, and more
- Visa Signature Concierge: Call anytime for non-emergency assistance.
- Shopping and travel protections: Purchase Protection, Extended Warranty Protection, Auto Rental Collision Damage Waiver, Baggage Delay Insurance, Lost Luggage Reimbursement, Travel and Emergency Assistance, Travel Accident Insurance
- Purchase and Balance Transfer APR: 15.74% to 23.74% Variable
- No foreign transaction fee
- Annual fee: $0
Insider tip
There are a couple other Amazon credit cards that can get you 5% cash back at the online mega-retailer (if you have Prime):
Ink Business Cash℠ Credit Card
Ink Business Cash℠ Credit Card
Details
securely on the issuer's website
- Earn $500 bonus cash back after you spend $3,000 on purchases in the first 3 months from account opening
- Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year
- Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
- Earn 1% cash back on all other card purchases with no limit to the amount you can earn
- 0% introductory APR for 12 months on purchases
- Employee cards at no additional cost
- No Annual Fee
Don’t fret, small business owners — we’ve got a card for you too.
The Ink Business Cash℠ Credit Card (Review) has industry-leading rewards for a no annual fee card, offering 5% back on a pair of typical business expenses, plus Lyft. You’ll have to deal with a $25,000 annual limit on those 5% business categories, however, with a separate $25,000 limit for the 2% categories, and that could feel restrictive.
If you’ll be butting heads with the limits, think about pairing this card with other business reward credit cards, especially flat-rate cards with no spending limits.
Like the Chase Freedom® above, you can get more out of this card by pairing it with certain other Chase Ultimate Rewards cards. In this case, you may want to combine the Ink Business Cash with the Ink Business Preferred® Credit Card (Review), which gives a 25% bonus for travel redemptions and allows point transfers to travel partners. Once again, this could let you reach cash back equivalents upwards of 10% with the Ink Business Cash.
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| Introductory Bonus Offer |
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Key Features
- Free employee cards
- Chase Offers and Shop through Chase: Earn extra cash back with Shop through Chase or find discounts with Chase Offers.
- Shopping and travel protections: Purchase Protection, Extended Warranty Protection, Auto Rental Collision Damage Waiver, Travel and Emergency Assistance, Roadside Dispatch
- Purchase APR: 0% for 12 months, then 14.74% - 20.74% Variable
- Balance Transfer APR: 14.74% - 20.74% Variable
- Annual fee: $0
For rates and fees of the Blue Cash Preferred® Card from American Express, please click here.
The highest cash back credit cards offer 5% or 6% cash back in select categories. Some reward programs have stable bonus categories, while others change throughout the year or let you pick your own. There are even some ways to boost your cash back beyond the typical rates.
Credit Card Insider receives compensation from advertisers whose products may be mentioned on this page. Advertiser relationships do not affect card evaluations. Advertising partners do not edit or endorse our editorial content. Content is accurate to the best of our knowledge when it's published. Learn more in our Editorial Guidelines.
The information related to Discover it® Cash Back has been collected by Credit Card Insider and has not been reviewed or provided by the issuer or provider of this product.
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