Best cash back credit card?
I’m looking for a credit card that offers cash back for purchases and no annual fees. Which is the best one?
Well, first off, to correct an earlier comment, Discover doesn’t offer 5% back on all spending, not even close. In fact, it tends to be one of the worst cash back cards since it’s tiered and most spending starts at 0.25% and only goes up to 1.0%.
A couple of the better cash back cards are the AmEx Blue Cash card and the Chase Freedom card. Blue Cash goes up to 5% on gas/grocery/drug stores and 1.5% on other spending, but it’s tiered. Chase Freedom is 3.75% in select categories, but is not tiered.
To quickly see which reward card will pay you the most for your normal spending profile, you can use this rewards calculator:
http://www.creditcardtuneup.com/