The best cash back credit cards for 2023

If you’re looking for a credit card that will help you earn cash back on your purchases, then you’re in luck.

There are a number of great cash back credit cards available, and each one offers different rewards and cash back earning percentages.

So, how do you know which cash back credit card is right for you?

To help make the decision easier, we’ve compiled a list of the top cash back credit cards for 2022.

These cards offer some of the highest cash back rewards available, so they’re perfect if you want to maximize your earnings and keep money in your wallet.

What is a cash back credit card?

A cash back credit card is a credit card that gives you a percentage of cash back on your purchases. For example, if you spend $100 on your cash back credit card, you may earn 5% cash back, which means you’ll get $5 cash back.

Most cash back credit cards have different tiers of rewards, so the more you spend, the more cash back you can earn. And some cards also offer bonus cash back on specific categories of purchases, such as gas or groceries.

How to choose the best cash back credit card for you

There are a few things to consider when choosing a cash back credit card.

First, think about how much you spend each month and what types of purchases you make most often. This will help you determine the cash back rewards that will be most valuable to you.

Some other factors to consider include interest rates, annual fees, and any special perks or rewards offered by the card.

By doing your homework and comparing a range of cash back cards, you can find one that offers the best combination of cash back rewards and other benefits for your spending habits and lifestyle.

Why should you use a cash back credit card?

There are a few reasons why cash back credit cards can be beneficial. First, they can help you save money on your purchases. With cash back rewards, you’ll effectively be getting a discount on everything you buy.

Another benefit of cash back cards is that they can help you earn rewards that can be used for things like travel or groceries. And if you use your cash back rewards wisely, they can even help you pay down debt or build up your savings.

Tips for choosing the best cash back credit card

When choosing a cash back credit card, there are a few things you should keep in mind. First, make sure to compare the different cash back rates and rewards offered by various cards. This will help you find the best deal for your spending habits.

You should also consider any additional benefits or perks that may be offered by a cash back card. For example, some cash back cards offer bonuses on specific categories of purchases such as gas or groceries. And others may offer cash back in addition to travel rewards or other benefits that could be useful for you.

Ultimately, if you do your research and choose the right cash back card for your needs, it can be an effective way to earn money on all of your purchases while still getting the other benefits that come with using a credit card.

Best cash back credit cards for 2022

After extensive research, here is our list of best cash back credit cards for 2022 to maximize earnings on your purchases across the board.

1. U.S. Bank Cash+® Visa Signature® Card

The U.S. Bank Cash+® Visa Signature® cash back credit card offers 5% cash back on up to $2,000 in combined purchases each quarter on two categories of your choice from a list that includes gas, groceries, travel, and retail shopping. You’ll also earn 2% cash back on one everyday category like dining out or buying coffee. And with 1% cash back on all other purchases, this cash back card is a great option for everyday spending.

2. Citi Custom Cash℠ Card

The Citi Custom Cash℠ credit card offers 5% cash back on up to $500 in combined purchases each quarter in two categories of your choice. You’ll also earn 2% cash back on one everyday category like dining out, gas, or groceries.

3. Chase Freedom Unlimited®

The Chase Freedom Unlimited® credit card offers unlimited 1.5% cash back on all purchases. So whether you’re buying groceries, gas, or clothes, you’ll always earn cash back. Plus, there’s no annual fee and you’ll get a $150 bonus after spending $500 in the first 3 months.

4. Wells Fargo Active Cash® Card

The Wells Fargo Active Cash® credit card offers 3% cash back on up to $2,500 in combined gas, grocery and drugstore purchases each quarter. Plus, there are also no annual fees or foreign transaction fees.

5. Chase Freedom Flex℠

The Chase Freedom Flex℠ cash back credit card offers 5% cash back on up to $1,500 in combined purchases each quarter in rotating categories. You’ll also earn 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% cash back on dining at restaurants, and 1% cash back on all other purchases. Plus, there’s no annual fee.

6. Citi® Double Cash Card

The Citi® Double Cash card offers 2% cash back on all of your purchases – 1% when you buy and 1% when you pay your bill. There’s no need to keep track of categories or rotating quarterly bonuses – you’ll get cash back on every purchase you make. And with no annual fee, the Citi Double Cash Card is a great choice if you’re looking to maximize cash back rewards.

7. Discover it® Cash Back

The Discover it® Cash Back credit card offers 5% cash back on up to $1,500 in combined purchases each quarter in rotating categories. You’ll also earn 1% cash back on all other purchases. There’s also no annual fee.

8. Blue Cash Everyday® Card from American Express

The Blue Cash Everyday® card from American Express offers 3% cash back on up to $6,000 in annual grocery store purchases, 2% cash back at U.S. gas stations and select U.S. department stores, and 1% cash back on all other purchases. There’s no annual fee with this cash back card.

9. Capital One® SavorOne Cash Rewards Credit Card

The Capital One® SavorOne Cash Rewards credit card offers 3% cash back on dining and entertainment, 2% cash back at grocery stores, and 1% cash back on all other purchases. Plus, there’s no annual fee with this cash back card. So whether you’re dining out or buying groceries, you’ll always earn cash back.

10. Capital One® Venture Rewards

The Capital One® Venture Rewards cash back credit card offers unlimited 1.25 miles per dollar on every purchase, every day. Plus, there’s no annual fee and you’ll earn a bonus of 20,000 miles after spending $1,000 in the first 3 months.

FAQs

How can I redeem cash back earnings?

There are a few different ways to redeem cash back earnings, depending on the cash back credit card you have.

Some cash back cards will allow you to redeem your cash back earnings for statement credits, while others may allow you to redeem your cash back for gift cards or merchandise.

And some cash back cards may even allow you to transfer your cash back earnings to a linked checking or savings account.

Be sure to check with your cash back credit card issuer to see what redemption options are available to you.

What is the difference between rewards and cash back?

There are two main types of cash back rewards that you can earn with cash back credit cards: cash back and points/miles.

While cash back rewards are typically applied as a statement credit or deposited into your checking or savings account, points or miles may be redeemable for gift cards, travel expenses, or merchandise through the issuer’s online portal.

What is the best cash back credit card?

There is no one “best” cash back credit card – instead, the best cash back credit card for you will depend on your individual spending habits and needs.

For example, if you spend a lot on groceries, you may want to consider a cash back credit card that offers bonus cash back rewards at grocery stores.

Or, if you travel often, you may want to consider a cash back credit card that offers bonus cash back rewards on travel purchases.

What is the best cash back credit card for travel?

There are many cash back credit cards that offer bonus cash back rewards on travel purchases, including the Capital One Venture Rewards Card and the Blue Cash Everyday Card from American Express.

To find the best cash back credit card for travel, you should consider factors such as your spending habits, your preferred travel destinations, and any fees or restrictions associated with particular cash back cards.

What is the best cash back credit card for restaurants?

There are many cash back credit cards that offer bonus cash back rewards at restaurants, including the Citi Double Cash Card and the Capital One SavorOne Cash Rewards Credit Card.

To find the best cash back credit card for restaurants, you should consider factors such as your spending habits, your preferred type of restaurant, and any fees or restrictions associated with particular cash back cards.

What is the best cash back credit card for groceries?

There are many cash back credit cards that offer bonus cash back rewards at grocery stores, including the Blue Cash Everyday Card from American Express and the Capital One SavorOne Cash Rewards Credit Card.

To find the best cash back credit card for groceries, you should consider factors such as your spending habits, the cash back rewards offered by different cash back cards, and any fees or restrictions associated with particular cash back cards.

Is cash back from a credit card taxable?

Cash back from a credit card may be taxable, depending on the cash back program and the specific terms of that cash back program.

For example, if you earn cash back as an incentive for making certain purchases or reaching certain spending thresholds, this cash back may be considered taxable income.

In general, it is best to consult with a tax professional to determine if cash back from a credit card is taxable.

How can I maximize cash back rewards?

There are a few different ways to maximize cash back rewards, depending on the cash back credit card you have. Some cash back cards offer bonus cash back rewards in specific categories, such as grocery stores or travel.

Others may offer higher cash back rewards on all purchases, or may offer a tiered cash back rewards structure where you can earn higher cash back rewards as you spend more.

To maximize cash back rewards, you should consider your spending habits and choose a cash back credit card that offers bonus cash back rewards in categories that you spend the most in.

Do cash back cards actually give you cash?

Yes, cash back cards do typically give you cash – although the cash back you earn may be deposited to a linked checking or savings account, or it may be applied as statement credits to your credit card balance.

Does cash back expire?

Cash back rewards typically do not expire, but there may be some restrictions on how and when you can redeem your cash back rewards.

For example, some cash back cards require you to redeem your cash back rewards for statement credits, while others may allow you to redeem your cash back rewards for cash or merchandise.

Additionally, some cash back cards may have cash back expiration periods or cash back limits, so be sure to carefully review the terms and conditions of your cash back card to determine if cash back expires and how you can maximize your cash rewards.

Final thoughts

Cash back credit cards can be a great way to earn rewards and earnings on your everyday purchases.

By choosing the right cash back card and using it regularly, you can easily maximize your cash back rewards and earning potential.

In this article, we’ve outlined some of the best cash back credit cards available for 2022 and shared some tips for maximizing your cash back rewards.

---

Infoceptor's editorial team handpicks all of the products and services it recommends, regardless of external influences. Affiliate links appear in some of our stories. We may receive an affiliate commission if you purchase something through one of these links, which helps us stay independent and support our great team.