Top 5 Best Cash Back Credit Cards in 2019 - ToughNickel - Money
Updated date:

Top 5 Best Cash Back Credit Cards in 2019

Billy believes budgeting personal finances is important, and credit card collecting can be a rewarding hobby.

This article discusses the best cash back credit cards for 2019.

This article discusses the best cash back credit cards for 2019.

Cash back credit cards have quickly become the most popular and flexible option of all credit card reward programs. This is because cash back programs generally offer higher rewards compared to a reward point system. This article will briefly go over the differences and provide a list of the best cash back credit cards in 2019.

What’s Difference Between Cash Back Credit Cards vs. Reward Points?

Typically, a credit card will offer a range of rewards from 1% cash back or higher. With reward point credit cards, the cardholder receives points for each purchase. Once enough are saved, they can be redeemed for travel, hotels, cash back, etc. However, the reward points system tends to have many downsides, such as blackout dates (holidays are basically a no-go).

Cash back credit cards give the cardholder a direct monetary amount for each purchase. This adds up until the cardholder decides to withdraw it, or use it towards the card balance.

There are three types of cash back credit cards:

Bonus Categories

Bonus categories payout higher rates for specific categories that rotate, with a flat rate on all other purchases.

Flat Rate

A flat rate card will payout a single rate across the board, no matter the category a purchase is placed under.

Tiered

Tiered credit cards payout increased rates for some purchase types, for example groceries, restaurants or gas, while paying a flat rate for all other purchases.

Disclaimer: The following list is based on the more established and popular credit card companies to ensure they are trustworthy as possible.

If you know of a cash back credit card worth mentioning, please share in the comments.

Best Cash Back Credit Cards in 2019

In this article:

  1. Capital One Quicksilver Cash Rewards Credit Card
  2. Citi Double Cash Card
  3. Chase Freedom Unlimited
  4. Alliant Cashback Visa Signature Credit Card
  5. HSBC Cash Rewards Mastercard Credit Card

The benefits and rewards for each card will be discussed below.

1. Capital One Quicksilver Cash Rewards Credit Card

top-5-best-cash-back-credit-cards-in

This card offers a combined 0% intro rate with a reward rate that’s simple to redeem. Note: Do not confuse with the QuicksilverOne card, which has a $39 annual fee (but requires a lower credit score).

Pros:

  • There is no annual fee ($0) and you get a flat 1.5% cash back reward on every purchase. There are no restrictions or minimums to redeem your cash back balance.
  • Pay 0% interest on balance transfers or purchases for the first 15 months. Afterwards, the variable APR ranges from 16.24% to 26.24%.
  • Spend over $500 within the first 3 months and receive a $150 one-time sign on bonus! That’s free money you would spend anyway.

Cons:

  • The only downside is there are no categories for higher rates.

The Stats:

  • Annual fee: $0
  • Intro APR: 0% for 15 months (purchases and balance transfers).
  • Regular APR: 16.24% - 26.24% (Variable APR)
  • Recommended Credit Score: 690+

2. Citi Double Cash Card

top-5-best-cash-back-credit-cards-in

What makes the Citi Double Cash Card great is the simplicity of being a cash back program, nothing more. There are no categories, no reward points, etc. This cash back card is great for getting a great reward rate for everyday spending.

Pros:

  • There is no annual fee ($0), and you get a total of 2% cash back on every purchase made. You receive 1% cash back for making a purchase, and 1% cash back when making a payment.
  • You have the options to redeem cash back balances as a gift card, by check or as statement credit.

Cons:

  • There isn’t a signup bonus. Additionally, it lacks bonus categories. Then there’s the $25 minimum to redeem.

The Stats:

  • Annual Fee: $0
  • Intro APR: 0% for 18 months (balance transfers)
  • Regular APR: 15.74% - 25.74% (Variable APR)
  • Recommended Credit Score: 690+

3. Chase Freedom Unlimited

top-5-best-cash-back-credit-cards-in

The Chase Freedom Unlimited card offers a multi-intro reward. There is no annual fee, you get 3% cash back for every purchase (first year) and 0% intro APR for 15 months. The second year, the cash back rate goes to 1.5%.

Pros:

  • No annual fee ($0) with a first year 3% cash back rate on the initial $20,000 in spending.
  • The 15-month 0% APR period includes purchases and balance transfers.
  • Cash back rewards are transferable to alternative cards that offers Chase Ultimate Rewards.

Cons:

  • In 2019, Chase stopped offering the $150 cash sign on bonus when increasing the cash back rate. This makes it more rewarding for high spenders, not so much for small shoppers.
  • Are you going to put $10,000+ on the card within the first 12 months? If not, you would benefit more from other cards on this list. For example: The Capital One Quicksilver card with a 1.5% cash back rate and $150 bonus when spending $500+ in the first 3 months.

The Stats:

  • Annual Fee: $0
  • Intro APR: 0% for 15 months (purchases and balance transfers)
  • Regular APR: 17.24% - 25.99% (Variable APR)
  • Recommended Credit Score: 690+

4. Alliant Cashback Visa Signature Credit Card

top-5-best-cash-back-credit-cards-in

The Alliant Cashback Visa Signature Credit Card is the first on this list to have an annual fee (2nd year). However, this cash back card is designed for larger spenders who will earn more than the $8.25/month in fees.

According to NerdWallet.com, if the cardholder spends:

  • $9,900+ the rewards are better than a no annual fee card with 1.5% cash back.
  • $19,800+ the rewards are better than a no annual fee card with 2% cash back.

Pros:

  • You get an amazing 3% cash back rate on every purchase during the first 12-month period.
  • Rate is still a nice 2.5% cash back after the intro period. No foreign transaction fees, making it an ideal card for those traveling abroad to international locations.

Cons:

  • The main downside is the annual fee ($99) that starts after 12 months. To cover this fee in cash back rewards, you would need to spend $4,000+ annually.
  • To qualify you must become an Alliant Credit Union member by donating $10 to the Foster Care to Success fund

The Stats:

  • Annual Fee: $0 (1st year), then increase to $99
  • Intro APR: N/A
  • Regular APR: 12.49% - 14.99%
  • Recommended Credit Score: 690+

5. HSBC Cash Rewards Mastercard Credit Card

top-5-best-cash-back-credit-cards-in

This cashback rewards card has many benefits to offer, from no annual fee and bonuses to decent cash back rewards.

Pros:

  • No annual fee is only the start with this one. The annual bonus mentioned above is a 10% cash reward on all purchases made the previous year.
  • In addition, you get a 3% cash back rate on the first $10,000 spent during the introduction period – afterward, the cash back reward rate is 1.5%.

Cons:

  • There are no bonus categories. You would have to spend $10,000+ to earn the $300 + $30 bonus during the introductory period.

The Stats:

  • Annual Fee: $0
  • Intro APR: 0% for 12 months (purchase and balance transfers)
  • Regular APR; 15.24% - 25.24% (Variable APR)
  • Recommended Credit Score: 690+

Final Thoughts

Hopefully you have found this list to be helpful whether you’re interested in getting your first card, an additional card, or Credit Card Churning.

If you know of a good cash back rewards card or have experience with any of the cards listed, please share your thoughts in the comment section below.

This article is accurate and true to the best of the author’s knowledge. Content is for informational or entertainment purposes only and does not substitute for personal counsel or professional advice in business, financial, legal, or technical matters.

© 2019 Billy Haynes

Comments

Billy Haynes (author) from Paragould, AR on July 10, 2019:

Thanks, working on another article about credit card churning, hoping to have it ready and published by Friday. :)

Yeah, I think I've ordered 3 things from Amazon this year. Ha!

I do that, then when I noticed it's like "all right, that's this months payment!". Always a good surprise.

Billy Haynes (author) from Paragould, AR on July 09, 2019:

Gregory,

Thanks, I have been trying to learn new tricks for SEO, but didn't realize they could detect the text in an image. That's pretty cool.

I will take you up on the idea and use that to see how it helps. In just 3 days this article has gotten the 2nd most views out of all 40 hubs. I'm hoping it maintains!

Gregory DeVictor from Pittsburgh, PA on July 09, 2019:

Bill, I noticed that you embedded the title of your article into the first graphic image. Very well done! Google has the capability of reading text that is embedded into a graphic image, and this well help your seo efforts exponentially. I’ve done something similar for every article in my American nostalgia series, and I believe that it has helped my seo efforts. You might also want to add a caption for that image that is a variation of your thematic statement. Perhaps something like:

“This article discusses the best cash back credit cards for 2019.”

Gregory DeVictor from Pittsburgh, PA on July 09, 2019:

Bill, you’ve chosen five trustworthy banks for your article: Capital One, Citibank, Chase, Alliant, and HSBC. They’re all nationally recognized, and are on NerdWallet’s various lists of the best U.S. banks and credit unions. You and your girlfriend were wise to cancel Prime. Yes, I used to have Prime too, but decided that it was just t-o-o costly. When I purchase something from Amazon these days, I just use my Capital One debit card and forget all about the reward points.

Billy Haynes (author) from Paragould, AR on July 09, 2019:

Gregory,

We had Prime until earlier this year. My girlfriend got it for I think $5/month through a student discount, but when the student discount ended we canceled it, because we didn't really order from Amazon more than 1-2 times a month (if that).

I think it's only worth the current price if a person orders from Amazon 5+ times a month to justify shipping costs, but the girlfriend was able to download free eBooks so readers may find that useful too.

I was reluctant to put HSBC on the list because I hadn't really heard much about them, thanks for confirming their reputable.

Gregory DeVictor from Pittsburgh, PA on July 09, 2019:

I have the Chase Amazon Rewards Visa Signature card that I really don’t use that often. It pays 3% cash back on purchases from Amazon.com and Whole Foods, and 5% cash back from those retailers if you have a Prime membership. I do not have an Amazon Prime membership because I think that it’s a waste of money. (I just checked, and the membership is $12.99 a month. That works out to $155.88 annually.)

I’ve never had a Capital One Quicksilver card, but I know that Capital One is a solid bank because I’ve had my checking, savings, and money market accounts with them for years and never had a problem. I also know that HSBC is a reputable bank.

Basically, you’ve chosen trustworthy banks in your article and that will increase a potential customer’s confidence level.

Billy Haynes (author) from Paragould, AR on July 08, 2019:

Gregory,

Thanks for reading. Are there any other cards or topics you would like to see covered?

I haven't used Chase myself yet, but I've heard good things so I may look into them next. Since I just got a Citi Simplicity card it will be 6+ months, so maybe they'll bring back the sign-on bonus by then. :)

Gregory DeVictor from Pittsburgh, PA on July 08, 2019:

Bill, I’ve had the Chase Freedom Unlimited card for several years now and really like it. I particularly like using the card at grocery stores like Giant Eagle or Aldi. When I got the card, I was able to take advantage of the terrific $150 sign-on bonus. However, I didn’t know that Chase discontinued the bonus. Your article is informative.

Related Articles