The Best Cash Back Credit Cards of 2013

Some savvy consumers only use credit cards to enjoy the cash back. No need for travel rewards or other perks. They just want a percentage back on their purchases. And they want this percentage back to come in the form of a cash back check whenever they want. It wasn’t long ago that the best cash back credit cards were going unused. Now, many consumers are playing the cash back game.

I cash in at least $200 annually in rewards from cash back credit cards and I never pay a dime in credit card interest. So how do you find the best cash back card? Well, it really depends on a few factors: how you earn the points, access and thresholds, as well as any fees or interest charges that might negate the use of the card.  In the below list of cash back credit cards, I’ve tried my best to consider all the factors above and give you a thorough review of each of the cards.

PT’s Pick for Best Cash Back Card

Capital One® Cash Rewards – The Capital One Cash Rewards has a little bit of everything for consumers.  Members earn 1% cash back on all purchases and a 50% bonus on the cash they earn every anniversary.  The Capital One Cash Rewards includes a 0% intro APR on purchases and balance transfers until May 2014 and the limited time offer of $100 bonus cash back is given once you spend $500 on purchases within the first 3 months.

Blue Cash Everyday® from American Express – Blue Cash Everyday from American Express is a regular credit card, not a charge card. And it offers one of the most attractive cash back rewards programs out there. Cardholders earn a $100 cash back bonus after spending $1,000 in eligible purchases in the first 3 months of Card membership and receive 3% cash back at U.S. stand-alone supermarkets (up to $6,000), 2% cash back on gasoline at U.S. stand-alone gas stations and select major department stores and 1% cash back on other purchases.  American Express wants this to be your #1 credit card and use it on everything. If you do, they will reward you with a lot of cash back. The card has no annual fee, which is a nice bonus because most American Express cards do carry an annual fee.

For the typical credit card cash back chaser, I think the Blue Cash Everyday from American Express is the best card. Most people going for cash back want to get as many cash back rewards as possible and will use their rewards credit card for everything. Of course, everyone’s situation is unique. How you spend your money and what groups you’re a member of may have an affect on what card is best for you. I suggest you at least browse the other card choices below.

Citi® Dividend Platinum Select® Visa® Card – If you need a nice cash back rewards card coupled with one of the best balance transfer offer on the market, then this is your card. The Citi Dividend Platinum Select Visa Card has a 0% Intro APR on Balance Transfers and purchases for 12 months AND $100 cash after making $500 in purchases during the first three months. After that, the APR will be 12.99%-22.99% Variable based on your creditworthiness*. You can earn 5% cash back from Citi at Home Depot, Home furnishing stores and home and garden stores between 4/1/13 and 6/30/13, with enrollment. You also earn a full 1% cash back on eligible purchases and cash advances.

TrueEarnings® Card from Costco and American Express – If you are already a Costco member heavy user of the warehouse, then there is no question which is the best cash back card for you. This is it. As a Costco member, you are already paying your annual membership, so you’ll avoid the annual fee ($50). And the rewards you can earn are excellent. You can earn 3% cash back on gasoline at U.S. stand-alone gas stations (up to $4,000), 2% cash back  at U.S. restaurants, 2% cash back on eligible travel purchases, and 1% on other purchases. I don’t know about you, but gas and dining out are two of my biggest expenses, making this card an excellent choice. The only reason it’s not my top pick is because of the tie in to Costco’s membership.

Cash Back Debit Card

PerkStreet Financial℠ Debit MasterCard® – While it’s not a true credit card, the PerkStreet Financial Debit MasterCard is a great way to get cash back rewards without using credit. PerkStreet offers a standard 1% cash back, every time you make a non-pin purchase and an extensive 2% cash back when you purchase online at Amazon.com, Apple.com, Walmart.com, iTunes, BestBuy.com and Target.com, when you buy in store at Walmart, Best buy, target and Apple and when you and a friend both pay with a Perkstreet card at the same restaurant, bar or coffee shop.

Last but not least, cardmembers will receive up to 25%  on new, personalized offers delivered right to your inbox every week. The checking account is free and they have a bunch of free ATMs. Nice alternative to the traditional cash back credit card.

“Disclaimer: This content is not provided or commissioned by the issuer. Opinions expressed here are author’s alone, not those of the issuer, and have not been reviewed, approved or otherwise endorsed by the issuer. This site may be compensated through the issuer’s Affiliate Program.”