Top Cash Back Credit Cards for 2020

Top Cash Back Credit Cards for 2020

December 9, 2019         Written By Bill Hardekopf

LowCards is a Citi partner. These offers, valid when the article was written, may have expired. View our full editorial disclaimer here.

If you pay off your credit card balance every month in full and on time, then interest rates on your card have very little impact since you will not incur any interest penalties. If you can commit to that financial discipline, then you should turn your attention to getting a rewards credit card. By using a credit card for your purchases and paying off the entire amount each month, your credit card will actually be making you money.

The best rewards card to use is a cash back credit card, since the money earned can be used to purchase anything. You will not be stuck with any unused airline miles or hotel points. Now is a great time to get a new cash back credit card. Issuers are heavily competing for your business, and as a result, are offering some extremely attractive cash back offers.

Here are some of the top cash back cards on the market.

Citi® Double Cash Card – 18 month BT offer

The Citi® Double Cash Card – 18 month BT offer gives cardholders the opportunity to earn cash back twice: 1% cash back at the time of purchase and another 1% when payment is made, for a total of up to 2% cash back. This card offers 18 months of 0% APR introductory financing on balance transfers, with a 3% balance transfer fee, as long as the balance transfer is made during the first four months of being a cardmember. After the promotional financing rate expires, cardholders will have an interest rate of 13.99% – 23.99% (Variable) on the remaining balance, depending on your creditworthiness.

Capital One® Quicksilver® Cash Rewards Credit Card

The Capital One® Quicksilver® Cash Rewards Credit Card offers customers 1.5% cash back on all purchases with no limits. New cardholders receive a $150 cash bonus when they spend $500 on purchases within the first three months of opening the account. Customers get 15 months of interest-free financing on both new purchases and balance transfers, with a 3% balance transfer fee. After the introductory financing period ends, the standard interest rate of 15.49% - 25.49% (Variable) will apply. Cardholders receive complimentary 24-hour-per-day concierge service and extended warranty coverage.

Capital One® QuicksilverOne® Cash Rewards Credit Card

If you only have fair credit, then you may want to apply for the Capital One® QuicksilverOne® Cash Rewards Credit Card. This card also offers 1.5% cash back on every purchase with absolutely no limit on the amount of cash you can earn. The standard interest rate of 26.99% (Variable) will apply to both new purchases and cash advances. This is a variable interest rate that can rise with the prime rate. Capital One also offers QuicksilverOne cardholders the opportunity to increase their credit line after making their first five monthly payments on time. There is a $39 annual fee for this card, and no foreign transaction fees imposed on charges processed outside of the United States.

Capital One® Savor® Cash Rewards Credit Card

The Capital One® Savor® Cash Rewards Credit Card is marketed to people who love dining out or creating meals at home. Cardholders earn 1% cash back on all purchases, but the rewards are particularly good on dining out and entertainment (4% cash back) as well as on grocery store purchases (2% cash back). New Savor cardholders receive a $300 cash bonus when they spend $3,000 within the first three months of being a card member. The Savor card offers an APR of 15.99% - 24.99% (Variable), depending on the cardholder’s credit. There is an annual fee of $95 but it is waived during the first year.

Costco Anywhere Visa® Card by Citi

If you are a Costco member, you can earn some significant cash back with the Costco Anywhere Visa® Card by Citi Cardholders earn 4% cash back on eligible gas for the first $7,000 in purchases per year (1% thereafter). In addition, you earn 3% on restaurant and eligible travel purchases, 2% on transactions at Costco and on Costco.com, and 1% on all other purchases. There is a 15.24% (Variable) APR on this card, and no annual fee with your paid Costco membership.

The information contained within this article was accurate as of December 9, 2019. For up-to-date information on any of the terms, cards or offers mentioned above, visit the issuer's website. Many of the offers on this article are from our affiliate partners, and LowCards.com may be compensated if you take action with any of our affiliate partners.

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About Bill Hardekopf

Bill Hardekopf is the CEO of LowCards.com and covers the credit card industry from all perspectives. Bill has been involved with personal finance for over 15 years. He is a frequent contributor to Forbes, The Street and The Christian Science Monitor.