If you’re looking at picking up a credit card that offers you general cashback and not travel points, then this is the roundup for you. We’ve scoured the internet to find the best cards to get and even offer some personal insight with many of the cards that we’ve used ourselves. So, without further ado, here are the best cashback credit cards in July 2020.
American Express Blue Cash Preferred
APR: 0% introductory on purchases for the first 12-months, then 13.99% – 23.99% Variable based on credit score
Annual fee: $95
Recommended credit score: Good to excellent
Cashback percentage: 1-6%
If you’re wanting one of the best cashback credit cards for overall earning, then the American Express Blue Cash Preferred is the one to choose from. After shopping around personally to find out what the best cashback card was, this is the one I landed on. American Express is probably one of the better card issuers around, offering its members some fantastic benefits. But, even with that aside, the Blue Cash Preferred card brings quite a bit to the table.
You’ll get 6% cashback at US supermarkets with up to $6,000 per year in purchases (then it falls back to 1%). You’ll also score 6% cashback on US streaming services, like Spotify, Apple Music, Netflix, and more. But, the savings don’t stop there.
American Express also gives 3% back on gas station and transit purchases (including taxi/ride-sharing, parking, trains, buses, and more.) Plus, 1% back on every other purchase. This means you’ll be scoring 6% back on the two most used categories, 3% on another highly-used category, and 1% on everything else. While there’s a $95 yearly fee here, most people will easily make that back in grocery purchases alone.
You’ll also score a $300 statement credit after you spent $1,000 in purchases within the first 3-months of opening the card, further helping to offset the yearly fee and put more cash into your pocket.
American Express Blue Cash Everyday
APR: 0% introductory on purchases for the first 12-months, then 13.99% – 23.99% Variable based on credit score
Annual fee: $0
Recommended credit score: Good to excellent
Cashback percentage: 1-3%
While the American Express Blue Cash Preferred card is one of the best cashback cards out there, it does have a $95 per year annual fee. If you’re just wanting a cashback card that will be great for use while out-and-about, but you don’t want to have to fuss with the annual fee, then the Blue Cash Everyday card is a great option.
It delivers 3% back at supermarkets (up to $6,000 per year in purchases), 2% back at gas stations and department stores, and 1% back on everything else. This isn’t quite as good as the 6%/3%/1% breakdown that the Blue Cash Preferred card provides, but is the best non-Amazon card for cashback that we’ll feature in this roundup.
You’ll also get between $150 to $200 in statement credit once you spend $1,000 on the card within the first three months. This is great for getting some extra bonus cash, as it can be redeemed straight toward your statement balance, helping you pay off the card quicker and easier.
Discover it
APR: 0% introductory on purchases for the first 14-months, then 11.99% – 22.99% Variable based on credit score
Annual fee: $0
Recommended credit score: Good to excellent
Cashback percentage: 1-5%
The Discover It is a great option if you’re not a fan of American Express, or you just want a rotating category reward program instead of fixed. While I really enjoy the Blue Cash Preferred, Discover It has some great offerings.
Each quarter, you’ll have different categories to earn cashback on. Some quarters it’ll be Amazon, others you’ll get extra cashback at gas stations or grocery stores. The rotating categories will earn you 5% cashback for that quarter, and all other categories will score you 1% back. So, unlike the American Express, there are only two cashback tiers here, 5% and 1%, so you’ll have to be a bit more selective where you use it to get the most bang-for-your-buck here. The cashback calendar for the Discover it cashback credit card is as follows:
- January – March
- Grocery Stores, Walgreens, and CVS Pharmacy
- April – June
- Gas Stations, Uber, Lyft, and Wholesale Clubs
- July – September
- Restaurants and PayPal
- October – December
- Amazon.com, Walmart.com, and Target.com
However, Discover is offering matched cash back for your first year of having the card. This means that all cash back earned within your first year, Discover will double it at the end. There’s no signup required and no limit to how much is matched.
Citi Double Cash MasterCard
APR: 0% introductory on balance transfers for the first 18-months, then 13.99% – 23.99% Variable based on credit score
Annual fee: $0
Recommended credit score: Good to excellent
Cashback percentage: 1-2%
Citi’s Double Cash Card offers a unique method that most other cards just don’t have. You’ll get 1% back on every purchase, and then another 1% back when you pay. If you’re someone who keeps a credit card paid off, then this is a great cashback credit card to use.
While there’s no category system like the two cards above, you’ll still be receiving more as base cashback than just about any other card around. If you don’t like the idea of having to remember what category to shop in, or that you’ll have to enable extra cashback, then the Citi Double Cash card is a great choice.
Just remember, like all cards, you’ll want to keep this one paid off to get the most benefit out of it. But, the Citi Double Cash card is especially a card you’ll want to pay off since you won’t get the extra 1% back until you make that payment.
Chase Freedom Unlimited Visa
APR: 0% introductory on purchases for the first 15-months, then 14.99% – 23.74% Variable based on credit score
Annual fee: $0
Recommended credit score: Good to excellent
Cashback percentage: 1.5%
The Chase Freedom Unlimited Cashback Credit Card is a great option for those who don’t want to worry about anything except earning cashback. You’ll get unlimited back at 1.5% on all purchases forever. There are no categories to remember here, no 1% now, 1% later, just straight up 1.5% back on every purchase you make.
You’ll also get a $200 bonus after spending $500 on purchases within the first 3-months of opening your account, which should be pretty easy if you use it to put gas in your car, buy groceries, and pay for Disney+. Just know, if you’re wanting to earn the most cash back possible, most of the cards above do offer a higher percentage either in total or in specific categories, and you’ll want to check them out for sure.
Costco Anywhere
APR: 15.24% variable based on credit score
Annual fee: $0
Recommended credit score: Excellent
Cashback percentage: 1-4%
If you’re a Costco member, this is one of Citi’s best cashback rewards cards around. The biggest thing here is that you’ll score 4% back on eligible gas purchases for up to $7,000 in each year (with 1% being earned thereafter.) There’s also 3% back at restaurants and travel, 2% back on Costco/Costco.com purchases, and 1% back on everything else.
As long as you remain a Costco member, there is no annual fee and no foreign transaction fees. Each year, you’ll receive an annual credit card reward certificate, which can be redeemed for cash or merchandise at Costco warehouses within the U.S.
Capital One SavorOne
APR: 0% introductory on purchases for the first 15-months, then 15.49% – 15.49% Variable based on credit score
Annual fee: $0
Recommended credit score: Good, excellent
Cashback percentage: 1-3%
Those who like to dine out will love the Capital One SavorOne. Offering up 3% back on all dining and entertainment, 2% at grocery stores (except superstores like Walmart and Target), and 1% on everything else, this card offers quite a bit to like. If you really enjoy eating out, even with takeout, this card will be one of the most rewarding ones of the bunch here, as most of the other offerings focus on things like shopping for the primary cashback categories.
If you’re able to spend $500 in purchases within the first three months, then you’ll get a bonus of $150 cashback automatically, giving you an extra incentive after sign-up to use this card. Plus, all purchases made within the first 15 months are interest-free, though if they stay on the card going into the 16th month, you’ll be hit with interest charges.
Looking for something else?
Now that you’re saving the best cashback credit card, it’s time to make the most back possible on that big DIY project. We recently showed you how to find out which of your cards have an annual fee, and how to potentially downgraded some of them. We’ve gone over the best credit card to rebuild your credit, and even found the cards you should look at if you have a student at home. Be sure to read through our credit card FAQ. We also lined up how to best utilize your cashback card, so be sure to take a look at that too.
Also, why not take a look at some cards to make a choice as to which you should sign up for. We’ve got a roundup of the best cards in every category, as well as some of our favorite 0% interest cards. Plus, we recently outlined the best cashback cards, if that’s something you’re into. For our comprehensive list of the best credit card deals around, check out our guide, which can be found here.
We’ve also previously gone over the best Amazon cashback cards to grab if you love shopping at the online retailer. However, if you prefer Target, we’ve also got a guide that helps you earn the most with purchases there, too.
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