What’s The Best Cash Rewards Credit Card Right Now?

I think my blog has become too economics-based recently and it’s downright depressing. So allow me to return to my roots of personal finance.

As I have stated in the past, credit cards are a great spending tool, not a borrowing tool. When used correctly, credit cards can be very rewarding. When used incorrectly, credit cards can be very damaging.

If you have gotten into trouble in the past, either because…

1. The interest rate was too high
2. You couldn’t afford the minimum payment, or
3. You could never manage to pay down the balance

…then, you’re doing things all wrong.

Credit cards should be paid off in full every month, so the interest rate is irrelevant. If you cannot pay off the balance in full each month, then you need to rethink your purchases. If you’re using the credit card for necessities, then you need to rethink your entire situation.

If you are a responsible consumer, then I want you to continue reading as I highlight the Best Cash Rewards Credit Cards available.

If I was a really smart blogger, I would use an affiliate code so that I get paid off of my credit card recommendations. But since I’m a terrible blogger, I am receiving nothing by presenting these credit cards to you. These recommendations are completely unbiased.

The Best Cash Rewards Credit Cards

Blue Cash Everyday from American Express

What I like:

• $100 Cash Bonus after spending $1000 in first 3 months
• No annual fee
• 3% on groceries (on $6000 annually)
• 2% on gas and department stores, 1% on everything else
• 0% interest for 12 months

Bank Americard Cash Rewards Credit Card

What I like:

• $100 Cash Back Bonus after spending $500 in first 90 days
• No annual fee
• 3% on gas, 2% on groceries (on first $1500 each quarter)
• 1% on everything else
• 0% interest for 12 months

Chase Freedom Visa

What I like:

• $100 Cash Bonus after spending $500 in first 3 months
• No annual fee
• 5% on rotating categories (ex. this quarter is restaurants, movie theaters, and Lowe’s)
• 1% on everything else
• 0% interest for 15 months

Capital One Cash Rewards

What I like:

• $100 Cash Bonus after spending $500 in first 3 months
• No annual fee
• 1% on everything
• 50% bonus on cash you earn every year (essentially making it 1.5% on everything)
• 0% interest for 12 months
• Ability to personalize your credit card with your own image

Conclusion

There are A LOT of credit cards available. Some of them will function identically, while others are extremely unique. The four I have listed above are all very similar – all have a sign-up bonus, all have 0% interest for at least a year, and all have a combination of 1-3% rewards. If the bulk of your spending is on gas and groceries, I recommend the Blue Cash Everyday from American Express. If played correctly, the 5% on rotating categories can be rewarding as well. For example, gas is a category in the 3rd quarter of this year, followed by department stores and Amazon during the holidays.

There are lots of lucrative options out there. I will research airline credit cards and those with annual fees as well, but for now, this is a quality list.

If you love the card you’re using, tell me about it in the comments.