The Best Cash Back Credit Cards for 2020

Last updated on November 5th, 2020

Cash back credit cards are the most popular kind of rewards card and it’s easy to see why. Cash is versatile, practical, and straightforward to use, requiring far less fuss than what other types of rewards cards might warrant. Ranging from flat-rate rewards to bonuses for specific spending categories, there are a lot of cash back cards to choose from— and this is where BestCards.com comes in. We have separated the best cash back credit cards for 2020 from the rest of the pack to give you the top picks for various uses.

Hand-Picked for You: Best Cash Back Credit Cards 2020

Nowadays, credit cards come with all sorts of bells and whistles to convince you that they are worth applying for. There are cards to earn free hotel stays, free airfare, rewards with your favorite store, and even cards for discounts on gas. No matter how you tend to spend your money, cash offers the kind of reward that every kind of shopper knows how to make use of. If you want to get the most out of your credit card via cold hard cash, then you’re in the right place. We’ve scoured the internet to bring you our recommendations for the best cash back credit cards of 2020. These cards aren’t just our personal favorites (although all of these cards can be found in at least one of our team’s wallets). They were chosen through a rigorous selection process that weighs a card’s bonus categories, rewards redemption method, user-friendliness, fees, and overall value. If you’re looking for a credit card that’s more than another piece of plastic to put in your wallet, then read on for the best credit cards for cash back of 2020.

Best Cash Back Card for Fun

Capital One has done a superb job of creating a credit card for fun things – a rewards category left largely neglected by the industry. With the Savor® Rewards Card, cardholders will earn an unlimited 4% cash back on dining andentertainment as well as a less exciting – but still practical – 2% at grocery stores. If there are good times to be had, you can rest assured the Savor® Rewards card has you covered.

The broadly defined “entertainment” category includes most of the memory-making outings that make life worthwhile; things like sporting events, movie theaters, and live concerts. This expansive category makes this card equally useful for families as it as for party-going college students. Plus, the lack of a foreign transaction fee makes the Savor® Rewards card one of the ultimate travel companions, offering the opportunity to earn 4% back on your vacation excursions – whether your vacation style is touring museums or hitting the nightlife scene. The Savor card does carry a $95 annual fee, but the person who spends about $200 a month on outings or dining (or total spend of $2,475 a year) will easily recoup the card’s cost. Aside from the card’s generous bonus categories, Capital One’s cash back redemption portal is second-to-none and one of the most user-friendly rewards programs in the industry.

Best Cash Back Card for Essentials

There is no shortage of credit cards that offer rewards for everyday necessities like gas and groceries, but the Amex Blue Cash Preferred® Card does it best (and with plenty of other juicy perks). Earning an unprecedented 6% cash back on groceries – the highest rewards earning we’ve seen for this type of purchases – families, amateur chefs, and anyone else who enjoys having a well-stocked kitchen will find themselves handsomely rewarded with this ultra-practical card.

Cardholders will also earn a competitive 3% cash back on other everyday necessities such as gas, transit (including rideshares), parking, tolls, and public transit. This rewards rate holds its own against even the best travel cards of 2020. But don’t think that the Blue Cash Preferred® Card is all work and no play. Digital-savvy streamers will delight in the 6% back on U.S. streaming services, making it one of the best cards for streaming entertainment, as well as reigning champion as the best credit card for groceries. The Blue Cash Preferred® Card carries a $95 annual fee that is easily justifiable for the person who spends at least $132 in groceries per month (or $1,584 a year).

Best Cash Back Card for Customizable Rewards

A credit card that issues 5% cash back already impresses on its own. When you add the ability to choose from 12 popular rewards categories to the mix, the U.S. Bank Cash+™ Visa Signature® Card becomes a veritable must-have. Cardholders can choose two 5% cash back categories and one 2% category every quarter. But hold your horses, cash back lovers. The 5% cash back is restricted to $2,500 a quarter, making it better suited as a secondary or backup credit card rather than someone’s go-to card to use for everything.

Rewards can be redeemed for statement credits or deposited into a U.S. Bank account. However, the latter isn’t needed in order to apply for the card. The U.S. Bank Cash+™ Visa Signature® Card has no annual fee which means cardholders are earning 5% back in two niche categories, completely free of charge.

Best Cash Back Card for Bad Credit

The Discover it® Secured is a full-fledged cash back card that offers 2% cash back on gas stations and restaurants. This is comparable with up to $1,000 per quarter. It also earns 1% back on all other purchases – a surprisingly strong offer that’s comparable to unsecured rewards cards. In addition, it is more forgiving than a typical rewards card – a rarity for one intended to help rebuild credit. Aside from having no annual fee nor foreign transaction fee, the late fee is waived for the first late payment. Plus, it won’t incur a penalty APR and has no overlimit fee.

Having less-than-stellar credit usually puts credit card rewards out of reach. The Discover it® Secured card, however, does an impressive job of making them accessible once again. For those rebuilding their credit, this card offers the best of both worlds. Not only does it offer coveted cash back rewards; it boasts credit-boosting benefits built in, as well. This includes an automatic account review to be upgraded to an unsecured card after 8 months.

Best Cash Back Card with No Annual Fee

It’s a tie! Both the Chase Freedom and the Discover it® Cash Back cards are wildly popular cash back cards. They have no annual fee and both feature rotating 5% cash back categories that change every quarter. Cardholders should take heed as these cards require a more hands-on approach than other types of rewards cards. Specifically, both require activating the bonus categories every three months. Meanwhile, when deciding which one to apply for, they (thankfully) do have unique features that help set them apart.

The Discover it® Cash Back card has “cash match”. This means that Discover will match new cardholders’ entire earnings at the end of the first year (12 billing cycles). The rotating bonus categories tend to focus on specific retailers, like Amazon or Walmart. The 5% bonuses are capped to $1,500 a quarter. However, an unlimited 1% can be earned each year on non-bonus categories. Discover’s cash back card is most valuable during the first 12 months thanks to the generous “cash match” feature. The Chase Freedom also has a quarterly cap of $1,500 on the 5% categories. The rotating categories lean on the broader side, focusing on purchase types (like drugstores or gas) rather than specific retailers. The main appeal of this card is the supporting role it plays to the Chase Sapphire cards. The Freedom card earns Chase Ultimate Rewards points at almost double the rate of their other cards. Those points can then be transferred to either the Chase Sapphire Preferred or Reserve card, where they are worth more. If you own a Chase Sapphire card (or plan to in the future), the Chase Freedom has outstanding long-term value.

Choosing the Best Cash Back Credit Card for 2020 for You

Still not sure which cash back rewards card is the best fit for you (and your wallet)? Check out the in-depth reviews on the best cash back credit cards of 2020. They offer a complete breakdown of each card’s strengths, weaknesses, and best-use cases. We can help you find the best card to fit your lifestyle. Plus, credit card companies don’t have a hand in our evaluations, so you can trust that every review remains unbiased. Browse hundreds of impartial reviews on our site and find your best card today.