Are you looking for the best cash back credit cards for good credit? Look no further! Flik Eco has compiled a comprehensive guide to help you navigate the world of cash back credit cards and make the most of your good credit score. Read on to find out about some of the top cash back credit cards available, along with valuable tips and advice on selecting the perfect card for your needs.
Best Cash Back Credit Cards For Good Credit Table of Contents
Why Choose a Cash Back Credit Card?
Why Choose a Cash Back Credit Card?
Cash back credit cards give users the opportunity to earn rewards in the form of cash back on their credit card purchases. These rewards can be redeemed as a statement credit, direct deposit, or even as a gift card. If you have good credit, opting for a cash-back card can be a smart financial move, allowing you to save money on everyday expenses while building your credit history.
Understanding Cash Back Credit Card Categories
Before diving into specific cards, it's essential to understand the different categories of cash back cards available:
- Flat-rate cash back cards: These cards typically offer a fixed percentage of cash back on every purchase, making them a simple and straightforward choice.
- Category-specific cash back cards: These offer higher cash back rates for specific spending categories, such as groceries, gas, or dining. To maximize rewards, you'll need to align your spending habits with the card's bonus categories.
- Rotating category cash back cards: These cards offer high cash back rates in select categories that change every quarter. Cardholders will need to keep track of the rotating categories and activate the cash back offer each quarter to take advantage of the higher rewards.
Top Cash Back Credit Cards for Good Credit
Now, let's take a look at some of the best cash back credit cards for those with good credit:
- Citi Double Cash Card: This flat-rate cash back card offers 2% cash back on all purchases—1% when you buy and another 1% when you pay off the balance. It's a great option for those who want a simple, no-fuss cash back experience.
- Chase Freedom Flex: A rotating category cash back card that offers 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter (activation required), as well as 5% cash back on travel booked through Chase Ultimate Rewards, 3% on dining, including takeout and delivery, and 1% on other purchases. This card offers significant earning potential for those willing to keep track of the rotating categories.
- Blue Cash Preferred Card from American Express: A category-specific cash back card offering 6% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%) and select U.S. streaming subscriptions, 3% on transit and U.S. gas stations, and 1% on other purchases. This card is ideal for those who spend a significant amount in these specific categories.
Best Cash Back Credit Cards For Good Credit Example:
Imagine you're an avid traveler and foodie who spends $1,000 a month on dining and $500 on travel. You also spend $300 a month on groceries and $200 on gas. By choosing the Chase Freedom Flex card, you would earn 5% cash back on the $1,000 spent on dining ($50), 5% on the $500 spent on travel booked through Chase Ultimate rewards ($25), and 1% on the $300 spent on groceries and $200 on gas ($5). That's a total of $80 cash back earned per month or $960 per year, not counting the potential rewards from the rotating categories!
There's no one-size-fits-all solution when it comes to cash back credit cards, but now that you have a better understanding of what's out there, you can find the perfect card that matches your spending habits and maximizes your rewards. If you found this Flik Eco guide helpful, be sure to share it with friends and check out our other articles for more personal finance and investing tips!
