Best cash back credit card offers

11

cash back credit card offers
This blog is usually all about points and miles.  The game we play involves acquiring points & miles, usually without traveling, in order to travel nearly for free.  Current events, though, has led some of us to turn towards cash-earning options: new credit card bonuses, new bank account bonuses, cash rewards from spend, cash back shopping portals, etc.  This post is designed to dive into the first in the list: credit card bonuses.

The cards shown below are sorted by our formula for estimated first year value.  With cash back cards you’d think that a formula isn’t necessary.  Can’t you simply take the welcome bonus and subtract out the first year annual fee?  Nope.  We also have to account for the cost of spend.  Some cards have much higher minimum spend requirements which we need to account for.  For example, I’d argue that a $300 welcome offer that requires $500 spend is much better than a $300 offer that requires $3,000 spend.

For help with meeting spend requirements, please see: 7 ways to increase credit card spend from home.

Top 10 Cash Back Credit Card Offers

Top 10 offers are shown. Press “Next” to see more.

Card Offer
Capital One Spark Cash Business Credit Card
$500 Cash back
Earn a one-time bonus: $500 after $4.5K spend in 3 months

No Annual Fee First Year, Then $95

Info about this card has been collected independently by Frequent Miler. The issuer did not provide the details, nor is it responsible for their accuracy.

Recent better offer: Up to $2,000 Cash Back: Earn a one time bonus: $500 after $5K spend in 3 months from account opening and earn an additional $1,500 when you spend $50K in the first 6 months of account opening [Expired 1/27/20]

The Plum Card® from American Express
Up to $600
Earn a $200 statement credit after each $10,000 you spend on the card, up to $30,000, in the first 3 months of Card Membership. Terms Apply. (Rates & Fees)

No Annual Fee First Year, Then $250

American Express Blue Business Cash™ Card
Up to $300 in statement credits
Up to $300 in statement credits: Earn up to $100 in statement credits for purchases made in the first 3 months at each of these merchants: Dell, DocuSign, and FedEx. Terms apply. (Rates & Fees)

No Annual Fee

Recent better offer: Up to $500 in statement credits: Earn a $250 statement credit after $5K in purchases in the first 6 months and an additional $250 statement credit after an additional $10K in purchases in the first year. [Expired 8/6/20]

Blue Cash Preferred® Card from American Express
$250 Back
$250 cash back as a statement credit after $1K in the first 3 months. Terms Apply. (Rates & Fees)

$95 Annual Fee

Via some browsers you may find a targeted $300 offer with this refer-a-friend link

Recent better offer: Up to $350: 10% cash back on purchases at U.S. Restaurants in the first 6 months, up to $200 back. Plus, earn $150 back after $1K spend in 3 months. (Expired 5/3/17)

Discover it Miles - Double Miles your first year
$100 + First Year Double
Get $100 after first purchase. All "miles" earned in first 12 months will be doubled. This makes this a 3% cash back card for the first year.

No Annual Fee

Citizens Bank Cash Back Plus® World Mastercard®
5% back everywhere until 3/31/20
5% back everywhere through 3/31/19: Card ordinarily earns 1.8% back everywhere. There is currently an in-branch offer to earn an additional bonus of 3.2% back everywhere through 3/31/20 (to be paid out in May 2020)

No Annual Fee

Top 10 Redeemable for Cash Offers

Many cards earn points that are easily redeemed for cash where one point equals one cent.  This includes cards that earn Chase Ultimate Rewards, US Bank FlexPerks / Altitude points, Wells Fargo Go Far Rewards, and Citi ThankYou Rewards.  With Citi points, cashing out for 1 cent per point requires requesting a check to pay for a mortgage or student loan.  The Citi Prestige card is an exception since it allows a direct cash out at 1 cent per point.

The cards listed below offer points that are more valuable when used towards travel.  As a result, our estimated first year value (which uses enhanced travel value of points) is not a good measure for this post.

In order to understand how valuable each of the below offers is, convert the number of points to cash back, in your head by following this pattern (replace the “K” with a zero and add a dollar sign):

  • 25K points = $250
  • 50K points = $500
  • 60K points = $600
  • 80K points = $800
  • 100K points = $1,000

Since the first year value estimates use point values based on travel value, Please use the estimates shown below only as relative indicators of which offers are best for cash back.  However, if you think you are likely to use the points for travel, then the shown estimated values may be useful to you.

Top 10 offers are shown. Press “Next” to see more.

Card Offer
Chase Ink Business Preferred Card
100K points
100K after $15K spend in 3 months

$95 Annual Fee

Note: Chase has severely limited business card approvals during the recession

Recent better offer: 80K after $5K spend. Many preferred the 80K offer due to the much lower spend requirement

Chase Sapphire Preferred Card
80K Points
80K after $4K spend in the first 3 months

$95 Annual Fee

This card is subject to Chase's 5/24 rule (click here for details). This card is not available to either (i) current cardmembers of any Sapphire credit card, or (ii) previous cardmembers of any Sapphire credit card who received a new cardmember bonus within the last 48 months.

Recent better offer: None. This is the best offer we've seen.

Chase Freedom Flex
20K points + 5X grocery + 15 months 0% APR
Earn 20,000 points (worth $200 cash back) after $500 spend in 3 months + 5x Ultimate Rewards points (worth 5% cash back) on grocery purchases for 1st year (on up to $12K in purchases, excludes Target & Walmart). 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 - 23.74%.

No Annual Fee

This card is subject to Chase's 5/24 rule (click here for details). Even though this card is marketed as a cash back card, it actually earns Ultimate Rewards points which are redeemable for 1 cent each, or can be combined with other Ultimate Rewards-earning cards to get even more value. This product is available to you if you do not have this card and have not received a new cardmember bonus for this card in the past 24 months.

Chase Freedom Unlimited
20K points + 5X grocery + 15 months 0% APR
Earn 20,000 points (worth $200 cash back) after spending $500 in the first 3 months + 5x Ultimate Rewards points (worth 5% cash back) on grocery purchases for 1st year (on up to $12K in purchases, excludes Target & Walmart). 0% Intro APR for 15 months from account opening on purchases, then a variable APR of 14.99 - 23.74%.

No Annual Fee

This card is subject to Chase's 5/24 rule (click here for details). Even though this card is marketed as a cash back card, it actually earns Ultimate Rewards points which are redeemable for 1 cent each, or can be combined with other Ultimate Rewards-earning cards to get even more value. This product is available to you if you do not have this card and have not received a new cardmember bonus for this card in the past 24 months.

Recent better offer: None. This is the best offer we've seen.

Chase Ink Business Cash Credit Card
50K points
50K after $3K spend in 3 months

No Annual Fee

Note: Chase has severely limited business card approvals during the recession

Recent better offer: None. This is the best we've seen.

Wells Fargo Visa Signature Card
Up to 50K bonus points
5X rewards points on up to $12,500 in gas, grocery, and drugstore purchases for 6 months. (that's 1x normal earnings plus 4x bonus)

No Annual Fee

Chase Sapphire Reserve Card
50K Points
50K after $4K spend in 3 months

$550 Annual Fee

This card is subject to Chase's 5/24 rule (click here for details). This card is not available to either (i) current cardmembers of any Sapphire credit card, or (ii) previous cardmembers of any Sapphire credit card who received a new cardmember bonus within the last 48 months.

Wells Fargo Cash Wise Visa® Card
$150 Cash Back
$150 after $500 spend in the first 3 months

No Annual Fee

Info about this card has been collected independently by Frequent Miler. The issuer did not provide the details, nor is it responsible for their accuracy.

Alternate offer: Some people are targeted (in their online Wells Fargo account or via snail mail) for 3% cash rewards for the first year up to $30,000 spent)

Citi Rewards+ Card
15K points
15K points after $1K spend in 3 months

No Annual Fee

Citi Double Cash Card

Recent better offer: None

Advertiser and Refer-A-Friend Disclosure

Many of the card offers that appear on this site are from companies from which Frequent Miler receives compensation. Please see our full advertiser disclosure here. And, some offers are friend referrals in which we will earn points or other rewards in exchange for successfully referring you through the link shown here.

Generic 2 Affiliate Link Example
Offers for which we receive compensation are shown with credit card images.
Refer A Friend Example
Refer-a-friend offers are shown with this image
Non-Affiliate Link Example
With many of the best offers, we do not receive compensation. This is indicated by this “No Affiliate” card image

 

Email:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide
Subscribe
Notify of
guest

This site uses Akismet to reduce spam. Learn how your comment data is processed.

11 Comments
oldest
newest most voted
Inline Feedbacks
View all comments