Credit Cards

Best Cashback Credit Cards of 2019 | Coinpress


Best Cashback Credit Cards of 2019 | Coinpress 01.10.2019Leave a comment
Best Cashback Credit Cards of 2019 from Coinpress

When looking for a credit card, most people tend to look for the card with the most advantages but one which also suits their lifestyle. One benefit people especially watch for is cash backs.

Although this seems straightforward because its just cash deposited into your account, but it is not always that way. Cash-back cards are not created equally; some offer higher rewards on things such as dining and gas, while others do not.

Continue reading to find out which credit cards offer the most benefits and which one is better tailored to your spending.

Blue Cash Preferred Card from American Express

If grocery shopping is one thing that is always on your to-do list, then you will for sure take a liking to this card.

Benefits

The offer includes a 6% cash-back on all U.S. supermarket purchases, up to a $6,000 annual limit. Once you reach $6,000, you will get 1% back on U.S. supermarket purchases, this time without any restrictions. You also get unlimited 6% cash-back on streaming services such as Netflix and HBO, so you can enjoy binging your favorite shows while simultaneously earning money.

There is no spending limit on gas station and transit purchases; you will receive 3% cash-back on every $1 spent. American Express considers rideshare operators like Lyft and Uber as transit, so frequent users of these programs will earn even more cash-back. A 1% cash-back is applied to all other purchases, with no limits. Cash-back is given in the form of Reward Dollars that can be later received as a statement credit.

Blue Cash Preferred Card from American Express
Blue Cash Preferred Card from American Express

These can be redeemed once your reward balance is more than $25. American Express also has a fantastic welcome offer of a $300 statement credit if you make $1,000 in purchases (qualifying) within the first three months of signing up.

You can also add an additional card and authorized user, and you will earn the rewards for purchases made by them.

Rates and Fees

There is a 12 month introductory period with 0% APR, which later becomes 14.74% to 25.74% depending on your creditworthiness. There is a $95 annual fee, and a 2.7% foreign transaction fee.

Disadvantages

A small drawback of the Blue Cash Preferred card is American Express is their definition of a supermarket, for example, Walmart, Costco, and alcohol retailers are not considered supermarkets and will not earn points.

But a life-hack that can be applied in order to take advantage of the 6% potential entirely is by purchasing gift cards from the applicable supermarkets and using them later when needed. Be sure to check out other credit card hacks you might not know about here.

Reviews

Customer reviews are mainly positive, praising the easy-to-understand regulations and rewards. However, there are a few reviews complaining about the annual fee when other cards don’t have the fee. Some others think that the $25 as a lower limit of cash back redemption can sometimes be inconvenient.

Pros
$300 welcome offer as a statement credit
6% and 3% cashback rewards
12 months of 0% introductory APR
Cons
Purchases in supermarkets like Costco and Walmart are not qualified for the 6% cash back reward
$95 annual fee
2.7% foreign transaction fee

CITI Double Cash Card

Some cash cards have complicated terms and rotating categories, but this credit card is very effortless to understand.

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If your purchases are not concentrated in one area or you have no time to fit your expenses in a quarterly bonus calendar, then this is the perfect card to maximize points without all the hassle.

CITI Double Cash Card
CITI Double Cash Card

Benefits  

Citi bank offers you the opportunity to receive cash-back twice! Earn unlimited 1% cash-back when you make the purchases, with an additional 1% when you pay your bill on time.

Some of the other added perks are fraud protection, identity theft protection, purchase protection, and 24/7 customer service always prepared to assist you.

Rates and fees

They also offer an introductory offer of 0% APR on balance transfers for the first 18 months from account opening. Afterward, the variable APR will be 15.74% – 25.74% based on your credit. There are no annual fees, but there is a balance transfer fee of either $5 or 3% of the amount being transferred (whichever is higher).

Reviews  

The Citi double cash account has only received praise from cardholders, with fantastic customer service around the clock and straightforward rules and regulations, what is there not to love about this card. 

Pros
18 months of introductory 0% APR
1% unlimited cash back
24/7 customer support
No annual fee
Cons
Up to 25.74% variable APR after the introductory period
3% balance transfer fee with $5 minimum

Capital One Savor Cash Rewards Credit Card

Capital One® Savor® Cash Rewards is a premium cash-back card designed for gourmands and foodies.

Benefits

It allows you to earn 4% on dining and entertainment and 2% on grocery store shopping, the perfect balance for people who can’t decide whether to eat out or cook at home.

You also earn 1% on all other types of spending. For new cardholders, they offer a one-time $300 cash bonus once you spend $3,000 in the first three months of opening the account. This amount is significantly high compared to bonus offers from other providers.

Other perks include an extended warranty on eligible items bought with the credit card, travel accident insurance, and 24-hour travel assistant services.

Capital One Savor Cash Rewards Credit Card
Capital One Savor Cash Rewards Credit Card

Rates and Fees

The account is free for the first year and then costs $95 annually. There is a 0% intro APR for 12 months, and after that, it becomes 16.24% – 25.24% based on your creditworthiness. No foreign transaction fees also put this card at a benefit for travelers. 

Reviews

Reviews concerning the card itself are all positive, but cardholders warn newcomers to check the terms of the categories carefully. For example, Netflix is classified as phone/cable and not entertainment, so will not earn you more points.

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Many applicants to this card were denied due to low credit or income, so make sure to check for eligibility, and check out the other credit cards Capital One has to offer.

Pros
1%, 2% and 4% cash back on different categories
$300 welcome bonus
12 months for 0% introductory APR
Cons
$95 annual fee
Up to 25.24% variable APR after the introductory period

Bank of America Cash Rewards Credit Card

This is one of the rare few cash-back cards which applies to everybody for one very unique reason.

Benefits

Bank of America offers you a 3% cash-back in the category of your choice from gas, online shopping, dining, travel, drug stores, or home furnishings.

Also included is the opportunity to change your category online or through the mobile app each calendar month, so it is very dependent on you and what you plan to be doing that month.

This option is one of the more creative cash-back options we have encountered so far. Aside from your chosen category, you will also earn 2% cash-back at grocery stores and 1% on all other purchases.

Additionally, you will be awarded an online $200 cash rewards bonus in the first 90 days after spending at least $1,000 in purchases.

Bank of America Cash Rewards Credit Card
Bank of America Cash Rewards Credit Card

Rates and Fees  

There is no annual fee applied to this account. There is an introductory 0% APR for the first 15 months of purchases. After the offer ends, a variable APR of 15.74% to 25.74% will be implemented. A 3% fee applies to all balance transfers, which must be a minimum of $10.

Reviews

This card has a 4.0 rating on creditcards.com, which is a highly trusted and non-biased source.

The comments on most review threads all consist of users pointing out the only downside to be terrible customer service, but the superb cash-back category option outweighs this disadvantage.

Pros
1%, 2% and 3% cash back on different categories
$200 welcome bonus
15 months for 0% introductory APR
No annual fee
Cons
Up to 25.74% variable APR after the introductory period
3% fee for balance transfers with a minimum of $10

Chase Freedom Unlimited credit card

Earning cash-back with this card is simple and straightforward as there are no confusing categories or rules.

Benefits

Chase Freedom Unlimited will allow you to have an unlimited 1,5% cash back on every purchase, simple as that. Plus in the first three months of opening your account, you can earn a $200 bonus once you spend $500 on purchases. This cash-back opportunity is super easy to use and does not expire.

There is no minimum amount to redeem for cash-back. You can even link your Chase Freedom card to your Amazon account and instantly redeem your cash-back to pay.

Chase Freedom Unlimited credit card
Chase Freedom Unlimited credit card

Rates and Fees

A 0% intro APR for 15 months from account opening on purchases and balance transfers is offered. After that, 16.99%–25.74% variable APR is applied, according to your income and credit. All these great features cost nothing, as there are no annual fees required.

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Reviews

The chase freedom unlimited credit card has some of the most positive feedback we’ve ever seen. With reviews saying; this is the best card out there and that it has helped them double their credit in a few months.

As far as we can understand, this card has no major drawbacks, which is not something that usually happens. This card is considered to be the best of a whole list of cards that Chase has to offer.

Pros
1.5% unlimited cashback
$200 welcome bonus
15 months for 0% introductory APR
Cons
$95 annual fee
Up to 25.74% variable APR after the introductory period

HSBC Cash Rewards Mastercard credit card

Are you interested in massive cash back bonuses and can’t get enough of those? This card is for you.

Benefits

This popular cash-back card from HSBC offers a 3% cash-back on all purchases made in the first year of opening the account (up to the first $10,000 spent), after which you will start to earn 1.5% cash-back.

An additional 10% anniversary bonus is provided. This means that nearing the end of each year, you get a 10% bonus on all the cash-back you’ve made throughout the year.

Aside from the cash-back offers, other benefits include auto rental insurance, roadside assistance, travel insurance, and discounts on many Postmates and Shoprunner.

HSBC Cash Rewards Mastercard credit card
HSBC Cash Rewards Mastercard credit card

Rates and Fees

This card is very advantageous as it provides high rewards, while also including a decent introductory APR. During the first year of opening your account, you will have a 0% introductory Annual Percentage Rate, which later is followed by a 14.74%, 18.74% or 24.74% variable APR.

There is a 0% foreign transfer fee which also makes this card very convenient for those who like to travel often. You are not required to pay any annual fees for this account.

Disadvantages

This card has a pretty high transfer fee, either $10 or 4% of the amount you are transferring (whichever is higher). But the perks and cash-back rewards far outweigh the high transfer fee.

Reviews  

The HSBC Cash Rewards credit card has a 4-star rating, and most cardholders are very satisfied with the introductory bonus and the anniversary bonus.

The only complaints to be heard of this card are in regards to bad customer service.

Pros
1.5% and 3% cash back on different categories
10% anniversary bonus
12 months for 0% introductory APR
No annual fee
0% foreign transaction fee
Cons
Up to 24.79% variable APR after the introductory period

Discover it Cash Back

If you think you will enjoy having hundreds of dollars of cash back every year, then read on to get familiar with all the details of this card.

Benefits

The Discover it cash-back card offers something that is very hard to beat, a 5% cash-back on up to $1,500 in spending per quarter (but you must always remember to activate the bonus categories). The bonus categories include gas, grocery stores, amazon.com, and so on.

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As you can see, these are the places where people tend to spend the most money. Plus you can automatically earn unlimited 1% cash-back on other purchases outside of your chosen category.

The Discover it account matches all cash back earned during the first year, so your 5% back is effectively worth 10% back and your 1% is worth 2%. Most flat-rate cash-back cards offer only 1.5% back, so it is rare that you’ll find any other offer that can beat this one.

Discover it Cash Back
Discover it Cash Back

Rates and Fees

With a $0 annual fee, this card can function as an everyday card or a backup to keep in your wallet.

There is a 0% introductory APR on all purchases and transfers for the first 14 months of owning the account. Then 13.74 to 24.74% standard variable APR and up to a 5% fee on balance transfers will apply. Other benefits include Freeze it® ( immediate freezing of the account upon loss of card) and complimentary FICO® Credit Score viewing.

Reviews

Most customers consider the Discover it cash back card a staple in their wallet and a convenient card for everyday shopping. But, there are some people informing future cardholders that the credit card limit starts off with being set very low and is hard to raise, so if you’re a big spender you might want to consider other options.

Pros
Up to 10% cash back on different categories
14 months for 0% introductory APR
No annual fee
Cons
Up to 24.74% variable APR after the introductory period
Up to 5% fee on balance transfers

Wells Fargo Propel American Express

This is not a card with as many fancy perks and discounts like other cards included in this lineup, but it does provide a great offer for travelers. It’s great if you’re looking for a card with no annual fee that includes accelerated rewards and points that never expire as long as your account stays open.

Benefits

You can earn 3X points on dining, gas, rideshares, transit, flights, hotels, car rentals and popular streaming services, and 1X points on all other spending. There is absolutely no limit to how many points you are allowed to earn, and no blackout dates on airfare when redeemed through Go Far® Rewards.

A starting bonus is also available, so when you spend $3,000, you will earn 30,000 bonus points which amount close to a $300 value. Another plus is that when booking flights, you can split the payment and use a combination of payment by points and by card. When using this card abroad, there are no foreign currency conversion fees, which is always a major worry for travelers.

Other smaller perks include retail protection, cell phone protection (if stolen or damaged), chip technology, and lost luggage reimbursement. Other travel cards usually include other perks such as discounts on hotels, but few provide such an efficient and highly beneficial point earning system.

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Wells Fargo Propel American Express
Wells Fargo Propel American Express

Rates and Fees

There is an introductory period of 12 months with 0% APR, which later will become 15.74% to 27.74% based on your creditworthiness.
The card has $0 annual fee but you will have to pay $5 or 3% of each balance transfer.

Reviews

This card has some great and some very unsatisfactory reviews. Cardholders praise the sign-up bonus and superb point system, while others complain of the low credit limit.

The credit limit is very dependant on the customer and their credit score, and if this is low, there is nothing the bank can do except give you the opportunity to raise your credit score slowly.

Always remember to check the credit card credit requirements and your eligibility before applying.

Pros
3X and 1X point rewards on purchases of different categories
$300 welcome bonus
12 months for 0% introductory APR
No annual fee
Cons
Up to 27.74% variable APR after the introductory period
$5 or 3% balance transfer fee

Wrapping up…

Making the decision of whether a cash-back card is worth it or not, you are the best person to accurately evaluate whether it fits seamlessly into your lifestyle. We can’t really say which one is best as this choice is very individual. When choosing, don’t be tempted by promising introductory offers and perks from cards which you know will sit untouched in your wallet.

Don’t lie to yourself by saying you’ll change your spending habits and because you know that at the end of the day most people never do. Instead, you should take your time and research all your options, build up your credit score, and discover what you need to qualify for these cards.

Cash-back cards basically put extra money in your pocket when you’re just doing your shopping, so if your spending fits into the categories and regulations mentioned above, then definitely make the jump, get a cash-back credit card and start earning money. 

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Andrei Shilkov

Blog author. I am well versed in Finance and Digital Marketing. I have two bachelors degrees in Finance. Born in Russia, but later moved to the USA, to western Pennsylvania, the city of Pittsburgh. I have a Certified Public Finance Officer (CPFO) certificate. I also worked at IRS and Microsoft.

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