Best Cash Back Credit Cards June 2023

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By Lisa Gerstner

last updated 1 June 2023

Contributions from

Ellen Kennedy

Rates checked as of June 1, 2023.

This article reviews our picks for best cash back credit cards. We may get compensation if you visit partner links on our site. We may not cover every available offer. Our relationship with advertisers may impact how an offer is presented on our website. However, our selection of products is made independently of our relationship to advertisers.

Have you looked at the perks offered by rewards credit cards and decided that you want cold, hard cash? You’re hardly alone. In a survey from personal-finance site WalletHub, 79% of people said they are most interested in earning cash back credit card rewards, a significantly higher percentage than those who prefer rewards points or miles.

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To help you in your search, we have compiled a list of great cards that provide cash back on every purchase (or reward you with points that you can easily trade for cash at a strong value).

Interest rates, fees, rewards and other terms listed in this article are subject to change. Before you apply for a credit card, check its current terms and conditions with the issuer.

Best Cards for Flat-Rate Cash Back

These cards provide simple and strong cash back rewards on all spending. They are best for consumers that do not concentrate their spending in just a few areas.

Farmers Insurance Federal Credit Union Crystal Visa

Earn a whopping 3% cash back on all spending the first year you have this card. After that, you get 2.5% back—a strong rate that makes the annual fee worthwhile for those who spend enough to justify it. The amount of spending that exceeds $10,000 each month does not earn rewards, which are given as points that you can trade at a rate of a penny each for cash back.

How can the card provide such stellar cash back rates? Most cards are issued by large, publicly-traded banking institutions that must deliver gains to stockholders. But as a credit union, Farmers Insurance is member-owned, with the express mission of returning profits to members. The downside of this approach is that the card application process is more lengthy than that of commercial competitors.

Interest rate: 0% for six months, then 12.99% to 18% variable APR
Annual fee: $99, waived the first year
Top rewards rate: 3% back on every purchase the first year, and 2.5% back on all spending from the second year on; the amount of spending that exceeds $10,000 each month does not earn rewards
Redemption: You collect rewards in the form of points, and they’re worth a penny each for a bank account deposit or statement credit ($50 minimum redemption)
Membership: Anyone can become a member of Farmers Insurance FCU by joining the American Consumer Council and depositing $5 into a savings account
Sign-up bonus: $100 back if you spend $5,000 in the first three months

What is a Good Credit Score?

Wells Fargo Active Cash® Card

This card provides 2% cash rewards on all purchases, making it a great card to slip into your wallet if you prefer simple, straightforward rewards.

Three benefits sweeten this card deal. New cardholders earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months, the card offers a 0% APR on balance transfers and purchases for 15 months, and there is no annual fee.

Skip this card if you are planning significant travel outside the U.S., as there is a 3% foreign transaction fee.

Interest rate: 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers, then 19.99%, 24.99%, or 29.99% variable APR
Annual fee: None
Top rewards rate: 2% cash rewards on purchases
Sign-up bonus: $200 back if you spend $500 in the first three months
Redemption: Statement credit, cash at the ATM with a Wells Fargo debit or ATM card (in $20 increments), gift cards ($25 increments), or a credit to a qualifying Wells Fargo credit card, checking account or mortgage
Other benefits: Up to $600 per claim of protection for your cell phone against damage or theft if you pay your monthly wireless bill with the card

Citi® Double Cash Card

Get a total 2% cash back on everything you buy: 1% when you make a purchase and an additional 1% when you pay the bill. Rewards are tracked as Citi Thank-You points, which you can exchange at a rate of 1 cent apiece for a statement credit, direct deposit into your bank account or check.

This card's strength is its simplicity; there's no need to track rotating rewards categories, and the cash back rate of 2% is higher than that of most competing cards with no annual fee. The only downside? The card recently does not offer a sign-on bonus, but does provide a generous 18 months of 0% APR on balance transfers (but not on purchases).

APR: 0% Intro APR on balance transfers and purchases for 18 months; after that, the variable APR will be 18.99% to 28.99%, based on your creditworthiness
Annual fee: None
Top rewards rate: A total 2% back on all spending - 1% cash back when you buy, plus an additional 1% when you pay
Redemption: Rewards come in the form of Citi ThankYou points, which can be redeemed for a statement credit, check or direct deposit into a bank account; or exchange points for gift cards, travel and other options through the ThankYou program, but point values vary for those redemptions
Sign-up bonus: Earn a $200 rewards bonus after you apply online and spend $1,000 in eligible purchases within the first 120 days of account opening

Best Cards for Cash Back in Rotating Categories

Earn top rewards in categories that may change each month or quarter. These cards are a good fit for people who can keep track of and plan their charges in categories like online shopping, streaming, and travel.

U.S. Bank Cash+® Visa Signature® Card

This card may prove lucrative if you spend significant bucks on your wireless plan, utilities, or TV and internet services. That's because most of the rotating cash back categories earning 5% cash back (up to the first $2,000 spent) are related to tech and electronics. Travel booked through the U.S. bank rewards center also earns 5% back.

Cardholders get 2% back in a rotating category of their choice like groceries, gas and EV charging, and 1% back on other purchases.

New cardholders get a $200 sign-on bonus after spending $1,000 in eligible purchases within the first 120 days of opening the account. The card also offers 15 months of 0% APR for balance transfers and purchases, with no annual fee.

Interest rate: 0% for 15 months on purchases and balance transfers, then 19.49% - 29.49%
Annual fee: None
Top rewards rate: 5% back in two categories you choose each quarter up to $2,000, then 1%; the options include wireless plans, utilities, and TV and internet services
Other rewards: 5% back on reservations booked through U.S. Bank's travel center, and 2% on one category of choice among three options: grocery stores, restaurants, or gas stations and electric-vehicle charging stations. Plus 1% cash back on all other eligible purchases; there is no limit to the cash back you can earn in 2% and 1% categories
Redemption: Redeem cash back as a statement credit, a deposit into a U.S. Bank checking or savings account, or a U.S. Bank prepaid debit card; cash back expires after three years
Sign-up bonus: $200 back if you spend $1,000 in the first 120 days

How Many Credit Cards Should I Have?

Chase Freedom Flex℠

This card is a cash back workhorse, offering four ways to earn 5% cash back in the first year of card ownership. First, get 5% back on quarterly rotating categories like Amazon.com or gas station purchases, up to $1,500. Second, book travel through Chase Ultimate Rewards® for 5% back. Third, get 5% back on Lyft rides through March 31, 2025, and finally, earn 5% cash back on grocery store purchases (excluding Target® and Walmart®) on up to $12,000 spent in the first year (worth $600 cash back).

Dining, takeout and some delivery services earn 3% back, as do pharmacy purchases. And new cardholders get $200 back after spending $500 in the first three months.

Given that there is no annual fee, this card offers a great value for the potential long-term cash back potential.

Interest rate: 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 19.99% - 28.74%
Annual fee: None
Top rewards rate: 5% back up to $1,500 for combined purchases in bonus categories that you activate
Other rewards: 5% back on travel purchases made through Chase’s Ultimate Rewards program, 3% back on dining at restaurants and drugstore purchases, and 1% back on all other spending; earn 5% cash back on Lyft rides through March 31, 2025; that's 4% cash back in addition to the 1% cash back you already earn
Sign-up bonus: $200 back if you spend $500 in the first three months
Redemption: Cash back rewards are redeemed as statement balances or to accounts; travel rewards are tracked as Chase Ultimate Rewards points, which you can redeem at a rate of 1 cent each for cash back, travel bookings or gift cards

U.S. Bank Shopper Cash Rewards™ Visa Signature® Card

This new card from U.S. Bank provides an outstanding 6% cash back on the first $1,500 of combined quarterly spending at two retailers you choose. That's a potential $90 every three months back to you if you spend strategically. When combined with the $250 sign-up bonus, new cardholders could get some serious bucks back in the first few months of using the card.

If you are willing to book travel through the U.S. Bank travel program, you'll get 5.5% back, and you earn 3% back in another category you select. Moreover, the 1.5% back on other purchases beats many competing cards that only offer 1% outside of preferred categories. While there is no annual fee in the first year, consider your spending habits to ensure that when the $95 fee kicks in the second year, you will more than make up for it with cash back.

Interest rate: Variable 19.49% to 29.49% APR for purchases and balance transfers
Annual fee: No annual fee in the first year, then $95 thereafter
Top rewards rate: Get 6% cash back on the first $1,500 of combined quarterly spending at two retailers you choose from 24 major stores, including Amazon.com, Home Depot, Kohl’s, Lowe’s, Target and Walmart; you also get 3% back on the first $1,500 in quarterly spending in one category you choose; the options are wholesale clubs, gas and EV charging stations, and bills and utilities.
Other rewards: Earn 5.5% back on prepaid travel reservations through the U.S. Bank travel portal and 1.5% on all other spending—a higher rate than the 1% most cards offer outside their maximum-rebate categories
Sign-up bonus: Get $250 back if you spend $2,000 in the first 120 days
Redemption: Redeem cash back as a statement credit, a prepaid debit card or a deposit into a U.S. Bank account

Best Cash Back Credit Cards for Savers

You get the best value with these cards if you stash rewards in a bank or investment account.

TD Double Up Visa

The Double Up card provides a total of 2% cash back on all spending. TD Bank recently simplified this card, so that you no longer need to have a TD deposit account.

While there are some real advantages to the card, such as no annual fee and unlimited rewards, there are also some drawbacks. There is no way to earn more than 2% back, as many cards now offer. And the card is only available to customers residing in the 15 states (and the District of Columbia) where TD Bank operates.

Interest rate: 0% introductory APR on balance transfers for first 15 billing cycles, then 19.74%, 24.74%, 29.74% variable APR
Annual fee: None
Top rewards rate: 2% back on all spending
Sign-up bonus: $100 back if you spend $1,000 in the first 90 days
State residence requirement: This card is only available to customers residing in Connecticut, Delaware, Florida, Maine, Maryland, Massachusetts, New Hampshire, New Jersey, New York, North Carolina, Pennsylvania, Rhode Island, South Carolina, Vermont, Virginia, and Washington, D.C.
Redemption: Each purchase you make earns one point per dollar; you can redeem points for a statement credit or a deposit into the bank account of your choice

Fidelity Rewards Signature® Visa

This card is a perennial winner for the 2% rewards rate that Fidelity Investments customers can earn on every dollar spent. In fact, Kiplinger has included the card in its annual list of best rewards credit cards five years in a row. There's no need to keep track of spending categories and no limit to the cash back you can earn.

You can increase your rewards through automatic or one-time deposits into your eligible Fidelity account. Every $2,500 spent equals a $50 deposit.

As a Signature tier Visa card, you get additional perks, including travel accident insurance, lost luggage reimbursement, roadside dispatch, and other benefits.

Interest rate: 18.99%
Top rewards rate: 2% back on every purchase when you deposit rewards into an eligible Fidelity account
Other rewards: For Fidelity Wealth Management clients, cash-back rates are higher: 2.25% for those with at least $250,000, on up to 3% for those with $2 million or more; and you can enhance your rewards through automatic or one-time deposits into your eligible Fidelity account — every $2,500 spent equals a $50 deposit
Annual fee: None
Redemption: You can divide rewards among up to five accounts—including a brokerage account, cash management account, 529 college-savings plan, retirement account, donor-advised fund, Fidelity Go robo-adviser account and health savings account

SoFi Credit Card

This credit card from financial-technology company SoFi offers 2% cash back on all spending if you deposit your rewards into a SoFi investment or banking account or apply them to a SoFi student loan or personal loan. SoFi recently launched a travel program with Expedia, and the card offers 3% back when you book through the travel portal. What's most attractive for savers is that as an online bank with a high-yield savings account, Sofi offers up to a 4.20% APY on savings deposits.*

The card has no annual fee and perks tailored to tech-savvy clientele, like cell phone damage insurance up to $1,000.

Interest rate: 17.99% to 29.99% APR variable on purchases and balance transfers
Top rewards rate: Earn unlimited 3% cash back rewards when you use your SoFi Credit Card to book trips through the new SoFi Travel powered by Expedia; get 2% cash back on all spending if you deposit your rewards into a SoFi investment or banking account or apply them to a SoFi student loan or personal loan
*Other benefits: SoFi’s Checking and Savings account is an attractive choice for rewards deposits, yielding a healthy 4.20% APY on the savings component of the balance and 1.20% APY on the checking portion if you have a direct deposit into the account as of April 25, 2023
Annual fee: None
Redemption: Points may be redeemed for statement credits or rewards offered through the SoFi Member Rewards Program

Best Cash Back Cards for Groceries

These cards offer ample cash back on purchases at grocery stores.

Interest rate: Low intro APR: 0% for 12 months on purchases from the date of account opening, then a variable rate, 18.99% to 29.99% variable (See Rates and Fees)
Annual fee: $95, $0 introductory annual fee (See Rates and Fees)
Top rewards rate: 6% back on up to $6,000 in annual U.S. supermarket spending, then 1%; and 6% on select U.S. streaming services
Other rewards: 3% back at U.S. gas stations and on transit, and 1% back on other spending
Redemption: Redeem cash back as a statement credit
Intro bonus: Earn a $250 statement credit after you spend $3,000 in purchases on your new card within the first 6 months
Terms Apply

Interest rate: 0% Intro APR on balance transfers and purchases for 15 months; after that, the variable APR will be 18.99% to 28.99%, based on your creditworthiness
Annual fee: None
Top rewards rate: 5% back in whichever of 10 categories you spend the most each month up to the first $500 spent, 1% cash back thereafter
Redemption: Earn rewards as Citi ThankYou points, which you can trade for a statement credit, direct deposit or check; you can also trade points for other rewards
Sign-up bonus: $200 back if you spend $1,500 in the first six months

Verizon Visa® Card

You have to be a Verizon Wireless customer to apply for this card, and it’s worth a look for those who qualify. Get 4% back on groceries and gas, 3% back on dining and take out, 2% on Verizon purchases and 1% on all other purchases. There are no limits or expiration dates.

The downside? You earn "Verizon Dollars" that can only be redeemed for a credit on your Verizon bill or for other goods or services offered by Verizon. If you have a family with multiple cell phones (up to twelve will qualify), you may have a high enough monthly phone bill to make this card worthwhile.

Interest rate: For New Accounts: Variable Purchase APRs are 26.24% or 30.24% for the Verizon Visa Credit Card or 23.24%, 26.24% or 30.24% for the Verizon Visa Signature Credit Card
Annual fee: None
Top rewards rate: Get 4% back on grocery store and gas purchases
Other rewards: Get 3% at restaurants, 2% on Verizon purchases and 1% on other spending
Redemption: Earn cash back as Verizon Dollars, which you can use for various Verizon purchases, including paying your Verizon wireless or internet bill; you forfeit unused Verizon Dollars if your account is inactive for 24 months
Sign-up bonus: $100 back if you make a purchase within 90 days

Best Cash Back Cards for Gas and EV Charging

Abound Credit Union Platinum Visa

This card can help you save on gas, offering 5% cash back on fuel purchases paid at the pump plus 5% back in quarterly rotating categories. It also boasts a lower APR than many competitors.

Since Abound is a credit union, signing up for the card may be more time consuming than signing up for competing credit cards. Other cards also offer high rewards at the pump, but have limits on how much you can get back in a given year up to $6,000 or $7,000, whereas the Abound card does not. This card is best suited then to people who drive commercially or spend more than $7,000 per year on gas.

Interest rate: 9.25 to 18% variable APR
Annual fee: None
Top rewards rate: 5% back on gas purchases as well as in categories that change each quarter, plus 1% cash back on all other purchases
Redemption: Cash back is automatically credited to your monthly statement
Membership: Anyone nationwide can become a member of Abound CU by joining the nonprofit organization USA Cares (no fee), paying a one-time, $10 membership fee to the credit union and depositing $5 into a savings account

Costco Anywhere Visa® Card By Citi

Members of Costco Wholesale can apply for this card, which provides 4% cash back on up to $7,000 per year spent at gas and EV charging stations.

If you want easy access to your cash rewards, this is not the card for you. Cash back is released to cardholders at the end of February each year, and you can lose your rewards if you close your account before February. In addition, you'll need to do some sleuthing to make sure you can get credit at your local gas station; some stations linked to a convenience store are not eligible.

These drawbacks likely won't concern loyal Costco customers, and Costco gas tends to be cheaper than many competitors.

Interest rate: Variable APR of 20.24% for purchases and balance transfers
Annual fee: None for Costco members, but see annual membership fees
Top rewards rate: Get 4% cash back on up to $7,000 per year spent at gas and EV charging stations, then 1%
Other rewards: Cardholders also get 3% on restaurant and travel spending, 2% on Costco purchases and 1% on other spending
Redemption: You receive cash back as a certificate each year after your February billing statement closes, and you can exchange it for cash or merchandise at Costco warehouses; certificates are redeemable through December 31 each year
Membership: Anyone can be a Costco member; the cost is $60 annually for a Gold Star membership or $120 annually for an Executive membership

Sam’s Club® Mastercard®

If you’re a member of Sam’s Club consider this card for the 5% cash back it provides on up to $6,000 spent in the first year on gas. After the first year, you only earn 1% back on gas, so you may decide to swap out your gas card at that point.

You can get the 5% back on your card at any gas station that accepts Mastercard, and you can also get 5% for EV charging.

Cash back is redeemable only at Sam's Club stores or online site, so be sure you can spend enough at Sam's Club to make the rewards worth it.

Interest rate: Variable APR of 20.40% to 28.40% for purchases
Annual fee: None, but see annual membership fees
Top rewards rate: Get 5% cash back on up to $6,000 spent in the first year on gas or EV charging, then 1%
Other rewards: Restaurant spending earns 3% back, and so do Sam’s Club purchases if you’re a Plus member; all other spending (including Sam’s Club purchases for Club members) earns 1% back
Redemption: Rewards are issued as Sam’s Cash, which you can redeem for purchases at Sam’s Club stores
Sign-up bonus: Get a $30 statement credit when you open a new account and make
$30 in Sam’s Club purchases within 30 days
Membership: Anyone can be a member of Sam's Club; it costs $50 annually for a Club membership or $110 annually for a Plus membership; through January 31, 2024, Sam's Club is offering new Club membership at 50% off, for $25

Best Cash Back Retail Cards

For shoppers who drop a pretty penny at Target, Walmart, or Amazon (and its subsidiary, Whole Foods), a retail card may pay off over time. After providing a handsome reward, usually 3% to 5% for in-store or online purchases, these cards typically reward 2% for categories like gas and restaurants and 1% for all other purchases. So rather than use your retail card everywhere, you will earn more if you pair it with a cash back card that provides more than 1% back.

Amazon Rewards Visa Signature Card

Chase offers this co-branded Amazon card, rewarding customers with 3% back on Amazon.com and Whole Foods Market purchases. But upgrade to Amazon Prime membership at $139 per year, and get 5% back on these purchases and at Chase Travel.

Cardholders get 2% back on gas, restaurants, and drug stores, and 1% back on all other purchases.

There are no foreign transaction fees and no limits to how much cash back you can earn. And new cardholders with a Prime membership get two bonus perks: a $150 Amazon Gift Card upon approval and 5% back everywhere on up to $2,500 in spending for the first 3 months after account opening ($125 value).

Interest rate: 19.24% to 27.24% variable APR for purchases
Annual fee: None, but see membership fees
Top rewards rate: Amazon customers get three points per dollar spent on Amazon and Whole Foods Market purchases
Other rewards: Get 2% back at restaurants and gas stations, and 1% back on all other purchases; as a Visa Signature cardholder, you can can get extended warranties, and coverage for travel accidents, baggage delays and lost luggage
Redemption: Points are worth a penny each if you exchange them for Amazon purchases, cash back, gift cards or travel bookings
Membership: No membership fee is required for the card, but for higher rewards offered by the Amazon Prime Rewards Visa card, Prime membership is required at $139 per year
Sign-up bonus: Prime members get a $150 Amazon Gift Card instantly upon approval and earn 5% back everywhere on up to $2,500 in spending for the first 3 months after account opening ($125 value)

Interest rate: 17.99% or 29.49% for purchases
Annual fee: None
Top rewards rate: Earn 5% when shopping online at Walmart.com, including pickup and delivery (excludes in-store purchases)
Other rewards: Get 2% cash back in Walmart® stores, Murphy USA and Walmart® fuel stations, as well as in restaurants or on travel; get 1% back on all other purchases
Redemption: You earn rewards as points, which you can trade at a rate of 1 cent apiece for cash back, travel or gift cards
Sign-up bonus: Get 5% cash back on in-store Walmart purchases the first year if you use the card through Walmart Pay (Walmart’s mobile-payment app)

Interest rate: 27.65% variable APR for purchases
Annual fee: None
Top rewards rate: Get 5% cash back on purchases made at Target stores and at Target.com
Other rewards: Get 2% back on restaurant and gas purchases, and 1% back on other spending; cardholders get an additional 30 days to make returns and exchanges at Target, plus free shipping on most items from Target.com
Redemption: Cash-back rewards are redeemable toward Target gift cards

Pros and Cons of Cash Back Cards

Pros

Cashback cards are easy to understand and use. When it comes to simplicity and clarity, cashback cards are second to none among rewards cards. Cashback is expressed as a percentage of the amount you spend, so you know the exact value of your rewards. With travel-rewards cards and other cards that provide points or airline miles for each dollar spent, the value per point or mile may vary depending on which redemption you choose.
They put cash in your pocket. Cashback is hard to beat if you want extra money to spend. You can often redeem cash-back rewards for a bank-account deposit, check or statement credit that reduces your credit card account balance. Or, as with some of our best cash-back cards for savers, you may even be able to put the cashback in an investment account.
You get good rewards on everyday spending. With a cashback card, you may get a healthy flat rate of about 2% back on everything you buy, or you may earn as much as 5% or 6% back on staples such as gas and groceries. Travel rewards cards tend to offer the highest rates on purchases of flights, hotels, dining out and other spending that usually falls into the non-essential category.

Cons of Cashback Cards:

They don’t always offer the highest payback. If you prefer to get the maximum possible value out of the rewards you earn with a credit card, a cashback card may not be for you. With travel rewards cards, sometimes you can earn outstanding rewards rates by putting in some legwork. With a card that pays out airline miles, for example, you may squeeze out extra value by combing through flight schedules to find the best redemption rates.
Sign-up bonuses are smaller. Travel-rewards cards are known for offering hefty initial bonuses to draw in customers. Premium travel card Chase Sapphire Reserve, for example, recently provided 60,000 bonus points–worth $900 in travel redemptions–to new cardholders who spent at least $4,000 on the card in the first three months. Many cash-back cards offer initial bonuses, but their values typically aren’t as high overall.
Interest rates are high and variable. As with other rewards cards, the annual percentage rate on a cash-back card is usually stiff. Average card rates run close to 20%, and some cards charge maximum rates closer to 30%. Plus, most cards have a variable interest rate tied to an index–often the prime rate. When the Federal Reserve raises short-term interest rates, the APR on your credit card increases, too.

Who Should Use Cash Back Cards?

A cash-back card may be right for you if…

You pay off your balance in full each month. For a disciplined spender, a cash-back card can be a powerful tool, allowing you to collect hundreds of dollars per year in rewards. But if you carry a balance on the card from month to month, the interest that you pay on the balance will likely erase the advantage of cashback rewards. Cashback cards are best suited to those who pay off their balance monthly and owe no interest.
You like to keep it simple. With a cashback card, you typically don’t have to think much about redemption values. As long as you redeem rewards for cashback, you should get the advertised percentage payback.
You prefer to use a single card. Some cashback cards, including our winners for flat-rate cash back, provide 2% or more on every purchase. If you’d rather not carry several rewards cards in your wallet – which involves keeping track of which one provides the best rewards at each merchant you visit–choose a great flat-rate card instead.
You spend a lot on budget staples. If essentials such as groceries and gas eat a big part of your budget, you may get the most bang for your buck from a cashback card that provides top rewards in those categories.

Which Cash Back Card Is Best for You?

You have a lot of great options among cash-back credit cards. As you narrow down the selection, take stock of the following:

In what categories do you spend the most money? Take a look at your spending patterns to see where your cash typically flows, and match your top spending categories to a cash-back card that supplies bountiful rewards in those areas.
Should you pay an annual fee? Reviewing your budget will also help you determine whether the amount of cash back you may earn with a card would overcome the annual fee if it has one. If you don’t think you’ll gain enough in rewards to outweigh the fee, consider a no-fee card instead.
Can you keep up with rotating categories? Some cards offer the top reward in a category that adjusts each quarter, or they allow you to select the top-earning category each quarter or month. That can be a lucrative strategy, but you’ll have to remember which types of purchases provide the best rewards at a given time. Plus, you may have to activate the maximum-reward category each quarter to earn the heightened cash back. If you’d rather not make the effort to keep it all straight, a simpler cash-back card may be the best choice.
Can you meet the initial bonus spending requirement? If a card offers a sign-up bonus, check how much you need to spend to earn it. You’ll typically need to spend at least a few hundred dollars — and often $1,000 or more — within a few months of opening the card to get an extra helping of cash back.
Do you want to finance a large purchase interest-free? Several cards provide an initial period during which purchases (and balance transfers, in some cases) for new card members aren’t subject to interest — often, it lasts 12 months or more. If you’re thinking of making a large purchase, check whether the card offers a 0% window. To avoid interest charges, make a plan to pay off your balance before the 0% offer ends.

As an independent publication dedicated to helping you make the most of your money, the article above is our view of the best deals and is not the opinion of any entity mentioned such as a card issuer, hotel, airline etc. Similarly, the content has not been reviewed or endorsed by any of those entities.

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Lisa has spent more than15 years with Kiplinger’s Personal Finance and heads up the magazine’s annual rankings of the best banks, best rewards credit cards, and financial-services firms with the best customer service. She reports on a variety of other topics, too, from retirement to health care to money concerns for millennials. She has shared her expertise as a guest on the Today Show, CNN, Fox, NPR, Cheddar and many other media outlets around the nation. Lisa graduated from Ball State University and received the school’s “Graduate of the Last Decade” award in 2014. A military spouse, she has moved around the U.S. and currently lives in the Philadelphia area with her husband and two sons.

With contributions from

Ellen KennedyContributing Editor, ESG, Kiplinger.com