Nowadays the trend is towards best cash back credit cards. Previously people seemed to be more interested in points, rewards, travel or some other kinds of credit cards. At present, people are inclining towards a hassle free cash back credit cards. Both the cash back and rewards oriented credit cards has its positive and negative sides.
Generally, cash back credit cards are of two types, i.e. flat rate cash back credit cards and rotating category cash back credit cards. With quarterly rotating cash back credit cards, usually we can milk upto 5% cash back. But for that, we need to adjust categories quarterly and keep an eye on the high percentage cash back categories.
Annually we shop at lots of categories, as a result, by using a rotating cash back cards we may reduce our overall saving in the long run. Let’s talk about some best cash back credit cards in the US.
Citi Double Cash Credit Card: It gives us 2% flat-cash back on everything. 1% when you make a purchase and another 1% when you pay off that purchase’s bill. If you spend $1500 monthly then you will get $360 annually as a cash back. It has no annual fee but comes with a 3% foreign transaction fee.
Wells Fargo Cash Wise Credit Card: It also gives 1.5% cash back everywhere with no cap. It doesn’t charge any annual fee and comes with a Cellular Telephone Protection. That means if you pay your cell phone bill with this card, you will get a free cell phone insurance upto $600 which can be claimed twice a year at-most. Foreign transaction fee is 3%.
HSBC Cash Rewards Mastercard Credit Card: It gives us 1.65% cash back including the bonus cash back. The good thing is that it’s the only card with this high cash back percentage which doesn’t charge foreign transaction fee or an annual fee. It’s best for people who travel a lot and want a worry free decent cash back.
Capital One Quicksilver Visa Credit Card: This card also comes with no foreign transaction fee and no annual fee. But it only gives 1.5% cash back on everything.