Cash Back Credit Card Analysis

Our number one cash back card, the Capital One® Cash Rewards - $100 Cash Back Bonus earned a whopping $460 over two years in our analysis. Because it features a $100 bonus, year one reaps a $280 return while year two earns a lesser $180. Although this card ranked the highest in our analysis, if you'd like to see which card might be right for your specific situation, try out our Personalized Cash Back Card Calculator on the right side of the page.

Capital One Cash Rewards features a unique approach to earning cash back by offering a straight 1% cash back on all purchases, but also including a 50% annual cash back bonus. This bonus nets cardholders 50% of the cash back they earn each year. For example, if a cardholder earned $100 in cash back annually, at the end of the year they would get another $50 cash back. This bonus effectively means that users earn 1.5% cash back on all purchases. The card also includes a $100 bonus when you spend $500 in the first 3 months. Cardholders earn unlimited cash back rewards that won't expire.

Coming in second, the Blue Cash Everyday^SM from American Express earned a hefty two year total of $388. This card also earns more in year one than in year two due to a $100 cash back bonus, which is a consideration if you're in the market for a cash back card that you'll be using for more than two years.

Blue Cash Everyday combines no annual fee with extra cash back rewards given for supermarket, gas and department store purchases. Cardholders earn 3% cash back at supermarkets (excluding superstores and warehouse clubs), 2% at gas stations and department stores and 1% on all other eligible purchases. Although these percentages aren't as good as its sister card Blue Cash Preferred^SM from American Express, the fact that there is no annual fee makes it a strong choice for most consumers. Users will also earn a $100 cash back bonus after spending $1,000 in the first 3 months. Cash back rewards are unlimited.

The Blue Cash Preferred^SMfrom American Express Express brought in $354 over the course of two years. Similar to its sister card Blue Cash Everyday, it features an extra cash back bonus, but it goes over and above Blue Cash Everyday by offering more generous cash back percentages.

Blue Cash Preferred from American Express favors card users who spend most of their money at the supermarket, gas pumps and departments stores. Users will earn a whopping 6% cash back at supermarkets (excluding superstores and warehouse clubs ) — the highest cash back reward we've seen. This can translate to big bucks for those who spend substantially on groceries each year. Cardholders will also earn 3% at gas stations and department stores and 1% on all other eligible purchases. In addition, cardholders will earn $150 cash back after spending $1,000 in the first 3 months. However, the card does have a $75 annual fee so you'll need to spend enough in groceries, gas and department stores to make up for the cost. Users can earn unlmited cash back rewards.

Chase Freedom® Visa - $100 Bonus Cash Back + 0% Intro APR did very well in our study, earning $350 over 2 years. Although it earned the same amount the Citi Dividend Platinum Select, Chase Freedom was considered to be slightly better because it features a 0% purchase APR for 6 months and a 0% balance transfer APR for 12 months.

Cardholders will earn 5% cash back in quarterly rotating categories and 1% on all other purchases (note: users need to enroll in the rotating category program each quarter). In addition, users can earn $200 cash back after spending $500 in the first 3 months. The amount of cash back users can earn is unlimited and does not expire.

Citi® Dividend Platinum Select® Visa® - $100 Cash Back tied with the Chase Freedom Visa - $100 Bonus + 0% Intro APR card in earnings, bringing in $350 over 2 years. Year one is weighted higher than year two in our analysis because year one is when cardholders can earn the $100 cash back bonus.

Citi Dividend Platinum Select Visa leads off with a $100 cash back bonus after spending $500 in the first 3 months. Cardholders will also earn 5% cash back in rotating categories and 1% cash back on all other purchases. There is no annual fee, but users max out at $300 cash back per year (excluding the $100 cash back bonus). This means that once you've accumulated $300 in earnings in a calendar year, you can't earn any more money.

Students often have a hard time finding a decent cash back card. Thankfully, there's no need to look further than the Journey^SM Student Rewards from Capital One®, which earned a very respectable $300 in our analysis. Plus, it incents its users to pay their bills on time by offering a 'pay on time' bonus.

Journey Student Rewards from Capital One features 1% cash back on all purchases. It also offers a bonus for paying your bill on time — an extra 25% on the cash back you earn each month. For the purpose of this analysis we assumed that this extra 25% was earned. Cardholders can earn unlimited cash back rewards and the cash won't expire.

The Capital One® Cash Rewards - Average Credit earned $282 cash back over the course of two years. It did not offer an extra cash back bonus, so the year one and year two earnings are the same.

Just like its sister card Capital One Cash Rewards, Capital One Cash Rewards for Average Credit features 1% cash back on all purchases and a 50% annual cash back bonus. However, this card is targeted at those who have average credit, which is good news for most of America. That means if your credit history doesn't allow you to qualify for most of the cash back cards out there (they typically require excellent credit), you have a greater chance of qualifying for the Capital One Cash Rewards for Average Credit. The 50% cash back bonus means that users will earn an effective 1.5% cash back on their purchases. This bonus is a extra 50% earning on the cash back you earn throughout the year. For example, if you earned $100 annually the bonus would add an extra $50, bringing your total earning for the year to $150. There is an annual fee of $39, but there is no limit to the amount of cash back you can earn and your rewards won't expire.

The Discover it® is new to the playing field, having just been launched by its parent company Discover. With 2 year cash back earnings of $249.60, it brings solid reward potential to the table.

Discover it Card offers 5% cash back (on up to $1,500 in purchases) in categories that rotate quarterly, and 1% cash back on all other purchases. If users spend more than $1,500 per quarter in the rotating categories they revert to the standard 1% cash back. The cash back rewards are unlimited and have no expiration date.

Capital One® Cash Rewards for Newcomers made a solid $245 in our survey. This card is an excellent choice for those new to the U.S. with limited credit history — it earns cash back rewards while helping to establish credit. For those with average or limited credit who aren't eligible for other cash back cards, this is a good choice.

Cardholders will earn a straightforward 2% cash back on travel and 1% on all other purchases. There is no limit to the amount of cash you can earn and the cash won't expire.

The TrueEarnings® Card from Costco and American Express is a excellent choice for Costco members. There is no annual fee with a paid Costco membership, although the cost of a Costco membership is $55 per year. For the purpose of this analysis, we did consider this fee to be a cost of owning the card which impacted the overall earnings. However, if you are a frequent Costco shopper it could be a great card for you.

TrueEarnings Card from Costco and American Express cardholders will earn 3% cash back on gasoline purchases of up to $3,000 (1% thereafter), 3% at restaurants, 2% on travel purchases and 1% on all other purchases including at Costco. We think the best feature of this card is that users will earn 1% cash back on Costco purchases — something that many other cards will not give cash back for.