The Best Cash-Back Credit Cards Reddit 2022

This list of top cash-back cards list will give you some insight if you're getting ready to add a cash-back card to your wallet.

This list of top cash-back cards reddit list will give you some insight if you’re getting ready to add a cash-back card to your wallet.

Today we’ll go over cash-back credit cards. Many of my friends know I’m a personal finance blogger and ask me about which credit cards have the best cash back programs or which offer the best rewards. Fortunately, many different credit cards offer reward systems and this makes the competition fierce and is better for consumers, i.e. you.

The top cash-back credit card list below is compiled of cards that offer the best bang for your buck. If you are going to sign up for a new credit card, make sure it is one that offers cash back for your purchases for starters. We want to get you the best maximum value for that plastic card you’ll use on a daily basis.

Best Cash-Back Credit Cards:

  • Discover It: 1% cash back on everything, 5% cash back on rotating categories (this quarter is Uber/Lyft/etc).
  • Chase Freedom: The categories are usually different than the ones for Discover, they work great together.
  • Bank of America Cash Rewards: 1% cash back on every purchase, 2% at grocery stores and wholesale clubs and 3% on gas for the first $2,500 in combined grocery/wholesale club/gas purchases each quarter. The advantage of a card like this is if you put a recurring payment like Netflix, Apple Music, etc on it and just auto-pay each month
  • Citi Double Cash: 2% cash back on everything. This is my daily driver. 1% cash back when you spend + 1% cash back when you pay your bill.

If cash back is your goal, you’re going to generally want to stay away from cards with annual fees.

None of the ones I listed have an annual fee.

The Amex Blue Cash Everyday seems like a good card as well, you may want to look into that one to save more at the grocery store and gas stations, but it has an annual fee as others in this thread have stated. Let’s dive deep into these cash back credit cards.

Discover IT

Earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more, up to the quarterly maximum, each time you activate. Plus, earn unlimited 1% cash back on all other purchases — automatically.

Welcome bonus: Enjoy a $50 statement credit.

Click here to view the bonus.

Chase Freedom

chase

Earn unlimited cash back Earn unlimited 1.5% cash back on every purchase – it’s automatic. No minimum to redeem for cash back.

Welcome bonus: Enjoy a $50 statement credit.

Click here to view the bonus.

Bank of America Better Balance Rewards Card

1% cash back on every purchase, 2% at grocery stores and wholesale clubs and 3% on gas for the first $2,500 in combined grocery/wholesale club/gas purchases each quarter.

Welcome bonus: Online $200 cash rewards bonus after making at least $500 in purchases in the first 90 days of your account opening.

Citi Double Cash

Earn cash back on your purchases with one of Citi’s best cash back credit cards. The Citi® Double Cash card lets you earn 2% cash back — 1% on purchases and an additional 1% as you pay for those purchases.

Welcome bonus: N/A

Compare Credit Cards

Here is a review of the best cash-back credit cards with full details of Bonus rates, cash back rates, and annual Fee.

CardBonus RatesFlat Cash-Back RateAnnual Fee
Capital One Savor Cash Rewards Credit Card4% on dining and entertainment and 2% at grocery stores1%$95 (waived the first year)
Wells Fargo Propel Amex3x points on dining, travel and select streaming services and 1x on everything else; points are worth 1 cent apiece1%$0
Ink Business Cash Credit Card5% at office supply stores*; 2% on gas and restaurants**1%$0
Blue Cash Preferred Card from American Express6% cash back on purchases at US supermarkets (on up to $6,000 of spending each reward year, then 1%) plus 3% cash back at US gas stations, and 1% cash back everywhere else1%$95
Chase Freedom5% quarterly bonus on up to $1,5001%$0
Chase Freedom Unlimited1.5% on all purchases1.5%$0
Capital One Quicksilver Card1.5% on all purchases1.5%$0
Citi Double Cash Card1% when you make purchases, 1% when you pay your bill1%$0
Discover it® Cash BackWith the Discover it card, you can earn 5% cash back on up to $1,500 in purchases made in accordance with Discover’s 2018 Cashback Calendar after enrollment.; Discover will match cash-back for first year.1%$0
Bank of America Cash Rewards credit card2% back at grocery stores and wholesale clubs and 3% on gas for the first $2,500 in combined grocery/wholesale/gas purchases each quarter1%$0

Best Debit Cards

Aspiration

aspiration

Aspiration is a digital banking alternative that helps people spend and save in ways that are good for the planet.

  • Choose your own monthly fee, even if it’s zero 
  • Enable Plant Your Change and plant a tree with every purchase round-up (Optional) 
  • Get paid two days early 
  • Shop with a conscience with your Personal Sustainability Score 
  • Access 55,000+ free ATMs worldwide 
  • Get 3-5% cash back on purchases at Conscience Coalition partners [including TOMs, Warby Parker, Blue Apron, Cariuma, and more] 
  • Up to 3.00% APY interest on savings balance. That’s up to $300 a year!

This bank account is legit and only takes two minutes to sign up for an account.

Cash Back Credit Cards Reddit FAQs

What credit card gives me the most money back?

There is no definitive answer to this question, as it largely depends on your individual spending habits, credit score, and preferences. However, some popular cash back credit cards include the Chase Freedom® Card, the Discover it® Cash Back Card, and the Citi Double Cash Card. Whichever card you choose, make sure to carefully read the terms and conditions in order to maximize your cash back earnings.

Is cash back really worth it?

Whether or not cash back is worth it depends on a variety of factors, including how much you spend, how often you carry a balance, and what interest rate you’re paying. In general, cash back is most beneficial for those who pay their balances in full each month and who avoid carrying a balance, as otherwise the interest charges may negate the cash back earnings. However, if you are disciplined with your spending and carefully compare different cards before choosing one, cash back can be an excellent way to earn some extra free money.

Is it good to have 2 credit cards?

There is no right or wrong answer to this question, as it depends on your individual financial situation and needs. Some people find that having two credit cards helps them better manage their finances, while others prefer to only have one card. Ultimately, it is up to you to decide whether or not having two credit cards is the best option for you. If you are unsure, you may want to speak with a financial advisor to get more guidance.

Is 5% cash back good?

Again, there is no definitive answer to this question, as it depends on your individual spending habits and preferences. However, many cash back credit cards offer rewards rates of 1-5%, so a 5% rate would certainly be considered good. Just remember to carefully compare different cards before choosing one, as some may have higher interest rates or other fees that could offset the benefits of the cash back.

Best Cash Back Cards Reddit Summary

Owning a cash back credit card is a great way to get rewards for your spending. With a cash back credit card, you can earn rewards like cash back, points, or miles for every dollar you spend. And the best part is, you can use these rewards to offset the cost of your purchases, save on interest charges, or even get a statement credit.

Hopefully, this list has given you some insight if you’re getting ready to add a cash-back card to your wallet.

To summarize the best cash back credit cards:

  1. Discover It: 1% cash back on everything, 5% cash back on rotating categories (this quarter is Uber/Lyft/etc).
  2. Chase Freedom: The categories are usually different than the ones for Discover, they work great together.
  3. Bank of America Cash Rewards: 1% cash back on every purchase, 2% at grocery stores and wholesale clubs and 3% on gas for the first $2,500 in combined grocery/wholesale club/gas purchases each quarter. The advantage of a card like this is if you put a recurring payment like Netflix, Apple Music, etc on it and just auto-pay each month
  4. Citi Double Cash: 2% cash back on everything. This is my daily driver. 1% cash back when you spend + 1% cash back when you pay your bill.

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Brian Meiggs
Brian Meiggs
Brian is an entrepreneur and investor who enjoys working out, reading, spending time with his family and friends, traveling and creating great content. He’s passionate about helping others achieve their financial goals by finding the best ways to save money. He uses the free Personal Capital app to manage his cash flow and net worth. He is the CEO of MeiggsMedia, an online publishing company that manages a portfolio of websites like SavingExpert. He has been quoted as a top personal finance blogger in major publications including Yahoo! Finance, NASDAQ, Discover, MSN Money and more.