Top 5 Credit Cards Offering 5% Cash Back Rewards
If you’re looking to get more out of your spending, consider getting a 5% cash back credit card. In recent years, there has been a surge of cash back cards in the market, each with varying terms but all offering rewards on specific or rotating quarterly categories such as gas, dining, streaming services, gym memberships, and more. By taking advantage of these rewards, you can make the most out of your purchases. To help you choose the best option, we’ve compiled a list of the top five 5% cash back credit cards available today.
1. Chase Freedom Flex
Tulsaworld.com named the Chase Freedom Flex one of the top 5% cash back cards. This card offers quarterly rotating spending categories that include home improvement stores, wholesale clubs, gas stations, Walmart, and PayPal. The cashback is awarded on the first $1,500 spent on category purchases during the quarter. To receive the cashback, you must activate each quarterly bonus manually. However, Chase makes the process easy by sending an email to cardholders where they can activate the promotion with a click. Along with the 5% cash back on rotating category purchases, you can also earn 5% cash back on travel purchases made through Chase Ultimate Rewards, 3% cash back on dining (including delivery and takeout) on up to $12,000 of purchases in the first year, 5% cash back at gas stations on the first $6,000 spent in the first year, and 1% on all other purchases. Other benefits of this card include no annual fee, cell phone protection, a $200 bonus if you spend $500 on purchases within the first three months of opening the account, and 15 months of 0% intro APR financing on purchases.
2. Blue Cash Preferred by American Express
As per cnn.com, if you’re looking to maximize your supermarket spend, the Blue Cash Preferred by American Express is an excellent card option that offers significant rewards. With this card, you can earn a whopping 6% cash back on all US supermarket purchases, up to $6,000 per year, and 1% thereafter. Additionally, you can also get 6% cash back on streaming services, 3% cash back at gas stations and select transit, and 1% cash back on all other purchases. The card also offers a 0% introductory APR on all purchases made within the first 12 months of account opening, followed by a variable APR of 13.99% to 23.99%. Furthermore, you can enjoy a $0 introductory annual fee for the first year, followed by a $95 annual fee for all subsequent years. As a welcome bonus, you can earn $300 in statement credits when you spend $3,000 in purchases within the first six months of account opening. Lastly, the Blue Cash Preferred card also comes with an excellent return protection policy that provides a refund of up to $300 per item (up to a maximum of $1,000 per calendar year) for eligible items purchased using your card within 90 days from the purchase date, if the seller refuses to take it back.
3. Citi Custom Cash Card
If you’re tired of chasing bonus categories and want to earn cash back effortlessly, the Citi Custom Cash Card is an excellent choice. With this card, you can automatically earn 5% cash back on your top spending category each month, up to $500 in purchases, and 1% cash back thereafter. You’ll also earn 1% cash back on all other purchases. This card is perfect for those whose spending habits change frequently. The best part is that you won’t lose out on rewards as the card will automatically adjust to your changing spending habits each month.
The Citi Custom Cash Card offers 5% cash back on several categories, including grocery stores, gas stations, streaming services, fitness club memberships, drugstores, home improvement, restaurants, select travel and transit, and live entertainment. To maximize your rewards, you can convert your cash back to Citi ThankYou points, which can be transferred to any of Citi’s airline partners, adding extra value to your rewards.
In addition to earning rewards, you’ll also enjoy a 15-month 0% introductory APR on purchases and balance transfers (then 13.99% to 23.99% variable), a $200 cash back welcome bonus after spending $750 on purchases within the first 3 months of opening the account, and no annual fee. Say goodbye to the hassle of chasing bonus categories and hello to effortless cash back rewards with the Citi Custom Cash Card.
4. Discover it Cash Back
Looking for a credit card that offers fantastic rewards on everyday categories like gas stations, restaurants, and groceries, along with a tempting sign-up bonus? The Discover it Cash Back card is a great choice for you. According to time.com, you can earn 5% cash back on rotating bonus categories each quarter, with a maximum spend of $1,500. These categories have included fitness clubs, gym memberships, Amazon.com, Target, PayPal, and grocery stores. You’ll also earn 1% cash back on all other purchases. As a new cardholder, you’ll get a cashback match at the end of the year, making it perfect for those who plan to make significant purchases in the next 12 months. With no annual fee, no foreign transaction fees, and a 0% introductory APR for 14 months on balance transfers and purchases, the Discover it Cash Back card has a lot to offer.
5. U.S. Bank Cash+ Visa
The U.S. Bank Cash+ Visa is a great choice for those seeking a no-annual-fee credit card that offers versatile rewards to match their spending patterns. Cardholders can earn up to 5% cash back in two categories of their choice, such as electronics stores, home utilities, fast food, department stores, cell phone providers, TV, internet, and streaming services. This reward is applicable to purchases of up to $2,000 per quarter. Additionally, you can earn 2% cash back on a category of your choice, including supermarkets, gas stations, and dining, and 1% cash back on all other purchases. The card also offers a 0% introductory APR for 18 months on balance transfers, which will then increase to a variable APR ranging from 13.99% to 23.99%, and it doesn’t charge an annual fee.
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