The best cash-back credit cards of July 2020


Best Rewards Cards_Our Panel of Experts

The best cash-back credit cards in 2020:
Best overall: Citi® Double Cash Card
The most bonus categories: Wells Fargo Propel American Express® card
Strong intro APR offer: Chase Freedom Unlimited®
Best for cash back on dining: Capital One® Savor® Cash Rewards Credit Card
Best for families: Blue Cash Preferred® Card from American Express
Highest cash back — if you work for it: Chase Freedom®
Best for lower credit scores: Discover it® Secured
Want an in-depth answer? Check out our cash-back credit card guide below.

Travel rewards credit cards can be incredibly lucrative — you can use them to earn enough points to book a first-class flight or a luxury hotel stay. But not everyone wants to travel, and there are a lot of hoops to jump through if you want to maximize your rewards to get the best travel redemptions.

That’s why there’s a great case to be made for cash-back credit cards. With cash-back cards, 1% back will always be 1 cent back, no matter what. Many cash-back credit cards don’t charge annual fees, so they can be a great way to put money back in your wallet while minimizing your out-of-pocket expenses.

Table of ContentsOur panel of experts

We consulted top credit card, travel, and financial experts to weigh in on this list of the top credit cards for earning cash back and to provide their tips for finding the best cash-back card for you. You’ll find the full transcript of our expert interviews at the bottom of this article.

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The best cash-back credit cards of 2020
Citi Citi® Double Cash CardBest overall: Citi® Double Cash Card

In terms of spending rewards, the Citi® Double Cash Card is the best single cash-back card, with 1% back as spend, and 1% back as you pay your bill. Since you should be paying your bill in full each month, you should earn 2% back on purchases each billing cycle.

However, there are a few potential downsides. First, there’s no sign-up bonus. Second, while it offers a 0% introductory APR for 18 months, that’s only on balance transfers, not purchases, so you can’t use it to fund a major expense without interest. After those 18 months, it’s a 13.99% – 23.99% (Variable) APR.

Note that the Citi® Double Cash Card has a minimum redemption amount of $25, and if you don’t have any account activity for 12 months, unredeemed rewards can expire. Still, 2% across the board is a good earning rate, and the …read more

Source:: Business Insider

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