Best Cash Back Credit Cards 2023

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Are you looking for credit card options to pick up in 2023? This review is a must-read for you! We’ve compiled a list of best credit cards that you can choose from in 2023. Let’s dive into it then!

1.Chase Freedom Flex

Chase Freedom Flex

  • Up to 5% Reward Rate
  • Welcome Bonus：$200 bonus
  • Annual Fee：$0
  • Regular APR ：19.74%-28.49% Variable
  • Credit Score ：Excellent,Good (700-749)
Apply Now

Pros:

  • No annual charge
  • Quarterly-rotating incentive categories that are beneficial
  • 5% cash back on travel booked via Chase Ultimate Rewards®.
  • 3% cash back on restaurant and pharmacy purchases
  • Welcome offer of $200 cash back incentive
  • Purchase security and extended warranty coverage
  • Travel benefits including insurance for travel cancellation and interruption
  • Cell phone protection when using your Freedom Flex card to pay your cell phone bill
  • Transferring points to premium Chase cards increases their value.

Cons:

  • Bonus categories must be activated quarterly.
  • 5% cash back is limited to $1,500 per quarter in purchases
  • per claim, cell phone protection has a $50 deductible

If you’re in the market for a cash-back credit card, you should consider the Chase Freedom Flex. The Chase Freedom Flex is an excellent option for those who wish to maximize their rewards without incurring an annual fee. Here’s why we believe it’s one of April 2023’s finest cash-back credit cards:

  • 5% cash back on up to $1,500 in categories that rotate quarterly (activation required).
  • Earn a $200 incentive after making $500 in purchases within the first three months of account opening.
  • Annual Cost: $0.
  • Purchase protection and extended warranty protection, travel benefits including trip cancellation and interruption insurance, travel and emergency assistance services, and secondary collision damage coverage for rental cars.
  • Protection for mobile phones with a $50 deductible per claim (up to two claims of up to $800 per claim and $1,000 per year).
  • For increased value, Freedom Flex points can be transferred to premium Chase cards such as the Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, and Ink Business Preferred® Credit Card

2.   Chase Freedom Unlimited®

Chase Freedom Unlimited®

  • Up to 5X Reward Rate
  • Welcome Bonus：$300 case back
  • Annual Fee：$0
  • Regular APR ：19.74%-28.49% Variable
  • Credit Score ：Excellent,Good (700-749)
Apply Now

Pros:

  • Generous hospitality
  • No annual charge
  • Simple categories earning rewards
  • Offers purchase protection and warranty extension coverage
  • Travel advantages including trip cancellation and interruption insurance, travel and emergency assistance services, and secondary collision damage coverage for rental cars.

Cons:

  • Fewer incentive categories than competing cash-back credit cards
  • 3% foreign transaction fee

Several factors led us to choose the Chase Freedom Unlimited card. First, the card offers a generous welcome bonus of 1.5% cash back on all purchases made in the first year, up to $20,000 in total expenditure, for a maximum cash back of $300. Here is a detailed review:

  • The Chase Freedom Unlimited offers 5% cash back on travel booked through Chase Ultimate Rewards
  • 3% cash back on dining and drugstore purchases
  • 1.5% cash back on all other purchases.
  • Cardholders can earn a 1.5% cash back bonus on all purchases made in their first year as a cardholder, up to $20,000 in expenditure, for a maximum cash back of $300.

3.   Capital One SavorOne Cash Rewards Credit Card

Capital One SavorOne Cash Rewards Credit Card
  • Up to 8% case back
  • Welcome Bonus：$200
  • Annual Fee：$0
  • Regular APR ：19.74%-29.74% Variable
  • Credit Score ：Excellent,Good (700-749)
Apply Now

Pros:

  • No annual fee and high cash-back rates on dining, entertainment, and grocery purchases
  • 0% introductory APR for 15 months on purchases and balance transfers
  • No international transaction expenses
  • Three-month welcome incentive of $200 Cashback after spending $500 on purchases.

Cons:

  • Those wishing to transfer a sizable balance within the first 15 months may find the balance transfer charge of 3% unfavorable.
  • After the introductory period, the variable APR can be quite high, depending on your creditworthiness.

The Capital One SavorOne Cash Rewards Credit Card is a great option for individuals who frequently dine out and spend on entertainment, as it offers one of the highest cash-back rates for these categories.

  • Entertainment purchases; and 1% cash back on all other purchases.
  • $200 cash incentive after spending $500 in the first three months after account opening.
  • $0 Intro APR: 0% on purchases and balance transfers for 15 months Variable APR: 19.74% – 29.74%
  • No foreign transaction fee
  • Additional advantages include an extended warranty, 24-hour travel assistance services, and a complimentary concierge service.

4.   Wells Fargo Active Cash® Card

Wells Fargo Active Cash® Card
  • Unlimited 2% rewards rate
  • Welcome Bonus：$200 cash rewards
  • Annual Fee：$0
  • Regular APR ：19.74%-29.74% Variable APR
  • Credit Score ：Excellent,Good (700-749)
Apply Now

Pros:

  • It is a MasterCard.
  • Offers 2% cash back on all purchases, with no spending categories to track.
  • Provides up to $600 in mobile phone protection twice per year. To qualify for this benefit, you must use your card to pay your monthly cell phone bill.
  • The card also comes with a 0% intro APR on purchases and balance transfers for 15 months. Depending on your creditworthiness, the variable APR will be 19,74%, 24.74%, or 29.74% after the introductory period expires.

Cons:

  • 3% foreign transaction fee.
  • Transfer-of-balance fees of up to 5%
  • After the welcome period, a variable APR of 19.74%, 24.74%, or 29.74% will apply.

With a fixed 2% cash rewards rate on all purchases, this card makes it simple to earn cash back on routine purchases. The lack of an annual fee and the generous welcome offer make this option even more attractive.

  • 2% cash-back on every purchase
  • After spending $500 in the first three months, you will receive a $200 cash incentive.
  • No annual charge
  • Twice yearly cell phone protection benefit of up to $600
  • 0% introductory APR for 15 months on purchases and balance transfers that qualify

5.   Discover it® Cash Back

Discover it® Cash Back
  • Up to 8% Reward Rates
  • Welcome Bonus：cashback match
  • Annual Fee：$0
  • Regular APR ：16.74%-27.74% Variable
  • Credit Score ：Excellent,Good (700-749)
Apply Now

Pros:

  • Automatic matching of all cash-back earnings at the conclusion of the first year
  • When activated, quarterly bonus categories that offer up to 5% cash back on up to $1,500 in expenditures.
  • Unlimited 1% cash back on all purchases, with no annual fee.
  • 0% introductory APR on purchases and eligible balance transfers for 15 months
  • Free credit monitoring, account freezing via mobile app or website, and a free Credit Scorecard containing your FICO Score Cons:

Cons:

  • To earn the higher cash-back rate, you must remember to activate the incentive category each quarter.

There are numerous reasons for including this in our list. For starters, upon activation, you can earn 5% cash back on up to $1,500 in quarterly expenditures with its rotating bonus categories.

  • You can redeem your rewards at any time for cash, with no minimum required: Use your Amazon.com rewards at purchase.
  • Free credit monitoring, account freezing via mobile app or website in case of card loss, and a free Credit Scorecard with your FICO Score.

6.   Discover it® Balance Transfer

Discover it® Balance Transfer
  • Welcome Bonus：cashback match
  • Annual Fee：$0
  • Regular APR ：16.74%-27.74% Variable
  • Credit Score ：Excellent,Good (700-749)
Apply Now

Pros:

  • 0% introductory APR for six months on purchases and 18 months on balance transfers
  • Once activated, 5% cashback on rotating categories, up to the quarterly maximum. No annual fee.
  • No international transaction expenses
  • Free monitoring of your FICO credit score No penalty APR for late payments
  • $0 fraud culpability

Cons:

  • The up to 5% balance transfer fee can be costly for those transferring a large balance.
  • Each quarter, the incentive categories must be activated to receive the 5% cashback rate.

With an introductory APR of 0% for 18 months on balance transfers, the Discover it® Balance Transfer is an excellent choice for anyone seeking to consolidate credit card debt. In addition, it offers a substantial 5% cashback on quarterly-rotating categories and 1% cashback on all other purchases.

  • A balance transfer fee of up to 5% of the amount transferred applies (the offer provided by Forbes Advisor may differ from the offer made available to the general public).
  • Once activated, you can earn 5% cash back on purchases made at Amazon.com, grocery stores, restaurants, and petrol stations, up to the quarterly maximum, and 1% cash back on all other purchases.

7.   Blue Cash Preferred® Card from American Express

Blue Cash Preferred® Card from American Express
  • Up to 6% Reward Rates
  • Welcome Bonus：Earn $250
  • Annual Fee：$0 for the first year, then $95
  • Regular APR ：18.74%-29.74% Variable
  • Credit Score ：Excellent,Good (700-749)
Apply Now

Pros:

  • High cash back rewards at supermarkets and petrol stations in the United States.
  • Welcome offer of $250 statement credit after spending $3000 in the first six months.
  • Extra cash back on certain U.S. streaming subscriptions, U.S. transit, and other eligible purchases
  • Return protection* and secondary loss and damage coverage for car rentals**
  • Annual credit of up to $120 on the Equinox+ membership statement

Cons:

  • $95 yearly fee after the initial year
  • Fewer rewards on non-food and non-fuel purchases.

The Blue Cash Preferred® Card from American Express is a great option for individuals who spend a lot of money on groceries and transportation and is on our list because of its advantageous features.

  • Earn 6% cash back at U.S. supermarkets on up to $6,000 in annual purchases (then 1% cash back), 6% cash back on select U.S. streaming subscriptions, 3% cash back at U.S. petrol stations and on transit, and 1% cash back on other eligible purchases.
  • Reward Dollars are received as cash back and can be redeemed for a statement credit.
  • Spend $3,000 on purchases within the first six months to receive a $250 statement credit.
  • $0 introductory annual fee the first year, followed by $95 annually
  • Return protection, secondary car rental loss and damage coverage*, and a statement credit of up to $120 per year for Equinox+ members.

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