Comparing the 4 Best Cash Back Credit Cards of 2023
In the ever-evolving world of credit cards, how do you ensure you're making the most of your everyday spending? And with a myriad of options available, which cash back credit cards stand out in 2023?
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Navigating the landscape of cash back credit cards can seem daunting, but armed with the right knowledge, you can make choices that not only reward your regular purchases but also align with your financial goals and lifestyle. In this post, we'll answer these key questions, comparing four of the top-performing cash back credit cards in 2023 and identifying how to optimize your earnings by strategically pairing your cards. From the high-earning Citi Double Cash® to the versatile Blue Cash Everyday® Card from American Express, let's delve into how you can amplify your cash back rewards this year.
Citi Double Cash®
Earning rate: The Citi Double Cash® card delivers 2% cash back on all purchases—1% when you buy, and an additional 1% as you pay for those purchases. This makes it one of the most straightforward and generous cashback cards on the market.
Annual fee: This card has no annual fee, which is great news for those looking to maximize their cashback rewards.
Current Intro Offer (August 2023): As of August 2023, the card doesn't offer a specific introductory reward. However, its high standard cashback rate more than compensates for this.
Combine with: To maximize rewards, consider pairing this card with the Citi Custom Cash® Card for 5% cash back in your top eligible spend category each billing cycle, up to $500 spent, and the Citi Premier® Card to earn extra points on travel and dining out.
Chase Freedom Unlimited®
Earning rate: This card offers a solid 1.5% cash back on all purchases. It also provides 5% cash back on travel purchased through the Chase Ultimate Rewards® portal, and 3% cash back on dining and drugstore purchases.
Annual fee: The Chase Freedom Unlimited® has no annual fee.
Current Intro Offer (August 2023): New cardholders can earn a $200 bonus after spending $500 in the first three months from account opening.
Combine with: This card pairs well with the Chase Freedom Flex℠, which offers 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate, and the Chase Sapphire cards (Chase Sapphire Reserve® or Chase Sapphire Preferred® Card) which provide elevated rewards on travel and dining.
Capital One Quicksilver Cash Rewards Credit Card
Earning rate: The Capital One Quicksilver card provides a flat 1.5% cash back on all purchases.
Annual fee: There's no annual fee for the Capital One Quicksilver.
Current Intro Offer (August 2023): New cardholders can earn a $200 cash bonus after spending $500 in the first three months from account opening.
Combine with: Pair this card with the Capital One SavorOne® Cash Rewards Credit Card to earn higher cash back percentages on dining, entertainment, grocery stores, and popular streaming services.
Blue Cash Everyday® Card from American Express
Earning rate: This card offers 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%), 2% cash back at U.S. gas stations and select U.S. department stores, and 1% cash back on other purchases.
Annual fee: The Blue Cash Everyday® card carries no annual fee.
Current Intro Offer (August 2023): New cardmembers can earn a $200 statement credit after spending $2,000 in purchases on the card within the first six months of card membership.
Combine with: For maximized rewards, consider combining this card with the American Express® Gold Card, which offers 4X points at restaurants and U.S. supermarkets (on up to $25,000 per year in purchases, then 1x), or The Platinum Card® from American Express. The latter offers 5X Membership Rewards® points on flights booked directly with airlines or with American Express Travel (on up to $500,000 on these purchases per calendar year) and on prepaid hotels booked on amextravel.com. Pairing these cards can maximize your rewards across various categories, including travel, dining, and everyday purchases.
In the realm of cash back credit cards, 2023 has given consumers a multitude of options to earn substantial rewards on their everyday spending. Four cards have emerged as leaders in this arena: The Citi Double Cash®, Chase Freedom Unlimited®, Capital One Quicksilver Cash Rewards Credit Card, and the Blue Cash Everyday® Card from American Express.
Each card offers a unique set of benefits, from generous earning rates to exciting introductory offers. However, to truly optimize your rewards, it's essential to strategically pair these cash back cards with others that complement their offerings. This strategy becomes more potent when we look at the Citi Double Cash® card.
While all combinations provide a competitive edge, the Citi Double Cash® card, when paired with the Citi Custom Cash® and the Citi Premier® Card, emerges as a potentially unrivaled trio in the cash back landscape. These three together cover an expansive range of categories, allowing you to earn significant rewards on virtually all your expenses.
Yet, the choice of the 'best' card is ultimately dependent on individual spending habits, and each of the four cards we've discussed brings a lot to the table. Whether you're a travel enthusiast, a dedicated foodie, or someone looking to maximize everyday purchases, there's a cash back card - and an optimum pairing - tailored to your lifestyle.
Which are the Top Cash Back Cards of 2023?