9 Best Cash Back Credit Cards in 2023 With Low Annual Fees & APR

Do you want a cash back credit card that will give you the best rewards? With so many cards on the market, it’s hard to know which one is best for your needs. In this blog post, we’ve ranked the best cash-back cards for maximum returns. We’ll answer questions like: What are the best rewards rates?

Which card has no annual fee and pays an unlimited amount of cashback? Do they have a high APR rate or do they charge foreign transaction fees? Keep reading to find out!

Which Credit Cards Have the Best Reward Rates?

When finding cards with the highest reward rates, cashback credit cards are the best. You can use your cash rewards for any purpose, including paying off other debts. Cash rewards credit cards from Capital One, Discover, and Bank of America all have excellent cashback rates. We have a list below of what we think has the best reward rates.

Chase Freedom Unlimited – Best Overall

The best option overall is the Chase Freedom Unlimited. This card offers unlimited points for every dollar you spend on all purchases, besides 0% APR introduction rates on balance transfers and purchases for 15 months..

This card does not have an annual fee and pays an unlimited amount of cashback with no limit or cap! The only caveat is that you will pay a foreign transaction fee if you decide to make purchases abroad.

Best Flat-Rate Cash Back Card: Citi Double Cash Card

Citibank’s Citi Double Cash Card does not have rotating bonus categories like some other cards. If you’re not loyal to a particular retailer, this option may be the best cash-back credit card for you. The Citi Double Cash Card pays two percent cash back on every purchase: one percent when you buy and another one percent when you settle your bill -all without an annual fee!

Chase Sapphire Preferred – High-End Travel Rewards Card

This travel rewards credit card offers double points on all travel purchases and money spent on dining worldwide. Where available, the cardholder also gains free access to over 600 airport lounges across 120 countries! You’ll get 60,000 bonus points after spending $4000 in three months. That translates into $750 in rewards for travel!

Citi Double Cash – Maximum Rewards With No Annual Fee

Citibank’s Citi Double Cash offers unlimited cash back on purchases and does not have an annual fee. You’ll pay one percent when you buy, then another one percent at the end of your billing cycle. This card pays out an unlimited amount of cash rewards! There are also 0% introductory interest rates for 18 months, which is perfect if you’re looking to transfer a balance or make a big purchase.

Discover it – Best Bonus Reward Category Card

This card gives five percent cash back in several different categories every quarter for up to $1500 spent (on top of its ten percent cash back on all other purchases). You’ll also receive a free FICO credit score each month and no late fees or foreign transaction fees which are perfect for traveling!

Best Cash-Back Cards

The best cash-back credit card will depend on your specific needs. These cards represent the upper echelon of cash rewards programs, but we’ve summarized them here to help you decide what might be right for you:

  • Chase Freedom Unlimited–unlimited one point per dollar spent with 0% APR intro rates.
  • $0 annual fee Citi Double Cash–double points on every purchase with no limit and an 18-month 0% introduction APR offer.
  • $0 annual fee Discover it–five percent cash back in rotating categories every quarter up to $1500 spend per quarter.
  • No annual fee Citi Double Cash–unlimited cashback with 0% introduction APR and no annual fee.
    Chase Sapphire Preferred–double points on travel and dining purchases worldwide with 60,000
  • bonus points after spending $4000 in three months–$95 Annual Fee (waived the first year).
    Best Cash Back Credit Card Tips

Use your cashback credit card for every purchase possible. This way you can get the most rewards and more quickly rack up points or miles to exchange them in for a free flight, hotel room, etc! Make sure you pay off your bill on time each month so you don’t have to pay any interest fees.

Otherwise, these cards could cost you big if paying late or carrying a balance from one month to the next! What’s better–cashback credit cards with rotating categories? Or flat-rate cash back options that offer unlimited returns? It really depends on what kind of spender you are. If you’re loyal to certain brands, then it may make sense to stick to the rotating categories. If you like flexibility, unlimited cashback may be best for you!

Do I Need Excellent Credit Before Applying?

It’s ideal if your score is 750+, but even those with lower scores can qualify for these cards as long as they have a source of income and are looking into transferring balances or making big purchases–just read each card offer carefully so that you know what rewards come with which spending qualifications.

Which Cash Back Credit Cards Have No Annual Fees?

A cash-back credit card is a great tool for building up your savings. The best no annual fee cashback cards pay an unlimited amount of rewards–there are no spending limits or tiers that limit what you can earn. If you’re looking to maximize the value of every dollar spent, these are the top choices.

  • Blue Cash Preferred Card from American Express
  • Chase Freedom Unlimited
  • Capital One Quicksilver One Cash Rewards Credit Card
  • Citi Double Cash Card
  • What are Foreign Transaction Fees?

If you use your credit card outside of the country where it was issued (or, to make an international purchase), many times merchants will pass their costs for doing business in another currency onto customer. They do this by charging either a percentage or flat dollar amount for each individual purchase.

This fee is called a foreign transaction fee and, unfortunately, it’s part of many credit cards’ terms and conditions. American Express only charges this fee on purchases made outside of the United States. If you currently have an American Express card, just look at your monthly statement to find out if there’s a charge for international transactions.

Want a Card that Has No Foreign Transaction Fees?

Most cashback credit cards charge around three percent of purchases made while abroad. If you’re traveling, this cost can add up fast and eat into the amount you planned to spend on your trip.

Some reward programs also tack on a foreign transaction fee that’s usually higher than other fees associated with using the card. To get the most out of your hard-earned dollars when shopping overseas, check out these no foreign transaction fee cards listed below.

Capital One Quicksilver Cash Rewards Credit Card

If you’re looking for a cashback card that earns rewards the most quickly, then this is a very good option. You’ll get unlimited one percent cash back on all purchases and no foreign transaction fees when using it abroad. The downside to Capital One’s Quicksilver card is that there isn’t much of a sign-up bonus, but it has no annual fee. If your credit is less than perfect and you have a steady source of income, the Capital One Quicksilver card may be the perfect fit.

Discover it Cash Back

The Discover it Cash Back is one of the best cashback cards for your wallet if you’re looking to get rewards on all purchases made abroad. You’ll get five percent cashback in rotating categories that change quarterly up to $1500 spent. You’ll also get unlimited one percent cash back on all other purchases and no foreign transaction fees. The downside to this card is that there isn’t much of a sign-up bonus, but it has an annual fee waiver for the first year.

With a Discover IT Cash Back Card You Can Expect;

  • Annual Fee Waiver
  • 0% APR for 14 months on purchases and balance transfers
  • Freeze your account in seconds with Freeze it
  • Use Apple Pay, Android Pay, or Samsung Pay to pay without your card number ever being seen by merchants
  • Get a credit score for free on Mobile app and online
  • 24/hour customer service
  • Capital One Venture Rewards Credit Card

If you’re looking for something with more room to grow, then the Capital One Venture Rewards card is for you. You’ll get double miles on every purchase, plus ten times those rewards when used to book travel through Capital One’s booking portal.

If you prefer to use another service or fly with a different airline, that’s fine too because your points are worth one cent each as a statement credit towards any travel purchase. This card has no foreign transaction fee, but the annual fee is $95, which could be a drawback for some people.

Bank of America Travel Rewards Credit Card

If you already have a Bank of America checking or savings account, then the Bank of America Travel Rewards credit card might be your best option. You’ll get unlimited one percent cash back on all purchases and no foreign transaction fees when used abroad.

Unlike some other cards that charge around three percent for transactions made in a foreign currency, this card charges no fee for these transactions. You’ll also get an annual ten percent customer bonus on all the cashback rewards you’ve earned at the end of each year. This card has no annual fee but does charge three percent for international purchases made in currencies other than U.S. dollars.