Best Cash Back Credit Cards of Fall 2017
Citi Double Cash is the best cash back credit card, according to CreditCards.com. A pioneer in the cash back card category, Citi Double Cash was one of the first no-annual-fee cards to offer up to 2 percent cash back on every purchase. That’s an unusually high rewards rate for a card that doesn’t charge an annual fee. Click here for more information:
“A card giving 2 percent cash back was unheard of just a couple years ago. Now, cards are competing to be the best among this new, more generous class of cards,” says CreditCards.com Editor-in-Chief, Daniel P. Ray. “As a consumer, I love the arms race and hope it continues.”
Cardholders get 1 percent cash back each time they use their Citi Double Cash card and an additional 1 percent when they pay the purchase off. Citi Double Cash is best suited for busy people who don’t want to spend extra time tracking their card spending or monitoring quarterly bonus categories. Customers can quickly redeem their cash by logging onto the Citi website and choosing to receive their cash as a statement credit, check or gift card.
The Blue Cash Preferred card from American Express, one of the most family-friendly cards on the market, placed second. It charges a $95 annual fee, more than many of its competitors, but the extra fee is worth it. Cardholders earn 6 percent cash back on their first $6,000 worth of grocery store purchases and 3 percent on gas. Blue Cash Preferred also offers a $200 sign-up bonus after spending $1,000 in the first three months.
The PenFed Power Cash Rewards card from Pentagon Federal Credit Union won third place in the best cash back card contest. Cardholders who have served in the military or opened a PenFed Access America checking account earn unlimited 2 percent cash back while others receive 1.5 percent cash back on every purchase. New cardholders are awarded a $100 sign-up bonus and enjoy 12 months of interest-free balance transfers.
CreditCards.com evaluated some of the top-rated cash back credit cards and asked a panel of judges to rate the staff’s top three picks. The judges were CreditCards.com Editor-in-Chief Daniel P. Ray, CreditCards.com Senior Industry Analyst Matt Schulz and personal finance experts Lisa Gerstner, Michelle Schroeder-Gardner and Laura Adams.