With the world’s digital savviness, credit cards are increasing daily with so many options for digital customers. It can be hard to choose the best credit card, as no one size fits all. Whether you are beginning your financial journey or looking to improve your credit, a little research can help you find a card that is specifically designed for your lifestyle.
If you are looking for credit cards that provide cashback and rewards, here are the top cash back credit cards for January 2022 in the USA:
Chase Freedom Unlimited card earns the top spot as it carries no annual fee and valuable bonus categories. It provides1.5% cashback on all purchases and becomes better with a bonus on travel tickets booked through Chase and on restaurants. New cardholders get interesting bonuses as well.
|
Pros |
Cons |
|
5% cash back on travel purchases made through Chase 3% on dining and drugstores 1% on all other purchases. |
Customers must book through the Ultimate Rewards portal to earn 5% cash back on travel. |
|
New cardholders get an additional 1.5% cash back on every purchase when they spend up to $20,000 in the first year. |
Limited card perks and benefits. |
|
No annual fees |
3% fee charged on foreign transactions |
Blue Cash Preferred Card from American Express provides cashback on groceries and gas stations. The annual fee for a cashback card is quite high however, the generous reward rates will make it up for families that spend a lot on groceries, gas, transit and streaming.
|
Pros |
Cons |
|
6% cashback in US supermarkets on up to $6,000 per year in purchases then, 1% back. |
You won’t earn the extra rewards for grocery shopping at major superstores and wholesale clubs. |
|
$0 annual fee for the first year. |
2.7% fee on purchases made abroad |
|
6% cash back on select US streaming subscriptions 3% cash back at U.S. gas stations and on transit 1% on other purchases. |
There is a $95 annual fee after the first year. |
Discover it Cash Back card is very helpful for moderate spenders who are willing to track their quarterly spending cap and delivers tidy rewards apart from the 1% earning rate.
|
Pros |
Cons |
|
5% cashback on spending up to $1,500 per quarter in categories that you activate. |
Activating the bonus categories every quarter can be a hassle. |
|
$0 annual fee |
5% bonus cash back rate is limited to $1,500 per quarter in spending |
|
No minimum cashback redemption |
|
Capital One SavorOne Cash Rewards Credit Card is suitable for people who love to spend on bars, restaurants and want to earn cashback while they spend. You can earn an unlimited 4% cashback on dining and takeout.
|
Pros |
Cons |
|
4% cashback on entertainment purchases. |
$95 annual fee |
|
No fee is charged on purchases made outside the U.S. |
No introductory 0% financing offers for purchases or balance transfers |
|
Unlimited reward earnings |
|
Wells Fargo Active Cash Card is the simplest cash back credit card that has a 2% flat cash rewards rate on purchases, which is one of the highest flat cash rewards rates on the market. It provides a bundle of other goodies that are not offered on other cards.
|
Pros |
Cons |
|
No annual fee |
3% foreign transaction fee |
|
$200 cash rewards bonus after spending $1,000 in purchases in the first 3 months |
The transfer fee will jump from 3% to 5% after the first 120 days. |
|
No limits on the cash rewards, you can earn rewards with no expiry. |
|
Conclusion
If customers carry a particular balance every month, then interest can immediately take away their savings, so opt for a low-interest card. If you need to transfer a balance, look for a balance-transfer credit card. If you have bad credit or you’re a student, there are speciality cards for you.