Best Credit Cards for Cash Back and Low Interest Rates
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Looking for a credit card that gives you rewards while keeping interest rates low?
You’re not alone.
With so many options on the market, it can be tough to find the right balance between earning cashback and avoiding high interest charges.
The good news?
There are plenty of credit cards that offer both.
Let’s dive into some of the best credit cards for cashback and low interest rates.
Introduction to Cashback Credit Cards with Low Interest Rates
When you’re searching for a credit card, the goal is usually to find one that benefits you the most.
Cashback cards reward you for your spending, while low interest rate cards keep your debt from growing too fast if you carry a balance.
Combining these two features can give you financial flexibility and rewards all at once.
The key is finding a card that matches your lifestyle and spending habits, while helping you avoid hefty interest charges.
Whether you’re a frequent shopper, a traveler, or someone who likes to save on groceries and gas, there’s a card out there for you.
What to Look for in a Cashback and Low-Interest Credit Card
Before diving into the specific cards, it’s important to know what features to prioritize.
Here are a few key things to look for:
Low APR: Look for a card with a low regular interest rate (APR), especially if you carry a balance month-to-month.
Introductory Offers: Some cards offer 0% introductory APRs for a limited time, which can be great for big purchases.
Cashback Rates: Cashback rates vary, but many cards offer 1%–5% back depending on the type of purchase.
Annual Fees: Some cards charge an annual fee, but plenty of great cashback and low-interest cards don’t.
Flexibility: Find a card that aligns with where you spend most (e.g., groceries, gas, travel) to maximize your rewards.
Chase Freedom Unlimited®: Best Overall for Cashback and Low Interest
The Chase Freedom Unlimited® card is a favorite among those looking for consistent cashback on all purchases.
With no annual fee and a generous cashback program, it’s an excellent choice if you want simplicity.
Cashback: Earn 1.5% on all purchases, plus 5% on travel booked through Chase and 3% on dining and drugstores.
Intro APR: Enjoy 0% intro APR for the first 15 months on purchases and balance transfers.
After that, a variable APR of 20.24% to 28.99% applies.
Best Feature: The combination of broad cashback categories and a lengthy 0% intro APR make it a strong all-around card.
Citi® Double Cash Card: Best for Flat-Rate Cashback
The Citi® Double Cash Card is ideal for those who prefer simplicity.
It offers a straightforward cashback structure with no categories to track or special bonuses to keep up with.
Cashback: Earn 2%—1% when you buy, and 1% when you pay off your purchases.
APR: It has a competitive APR, starting as low as 18.99% (variable).
Intro APR: 0% intro APR for 18 months on balance transfers (then a variable APR of 18.99%–28.99%).
Best Feature: The flat-rate 2% cashback rewards are unmatched by most other cards.
Discover it® Cash Back: Best for Rotating Categories
Discover it® Cash Back offers a fun twist to cashback with rotating bonus categories each quarter, which helps you maximize your rewards in specific areas.
Cashback: Earn 5% on rotating categories (such as groceries, restaurants, or gas) up to $1,500 in purchases each quarter (then 1%).
Earn 1% on all other purchases.
Intro APR: 0% intro APR for 15 months on purchases and balance transfers.
After that, a variable APR of 17.24% to 28.24%.
Bonus Tip: Discover matches all cashback earned in the first year for new cardholders, essentially doubling your rewards.
Bank of America® Customized Cash Rewards Credit Card: Best for Custom Categories
If you like to have control over where you earn the most cashback, the Bank of America® Customized Cash Rewards Credit Card lets you choose your top-earning category each month.
Cashback: Earn 3% cashback in your chosen category (e.g., gas, online shopping, dining) and 2% at grocery stores and wholesale clubs, up to $2,500 in combined purchases each quarter.
Earn 1% on everything else.
Intro APR: 0% for 18 months on purchases and balance transfers, followed by a variable APR of 18.24% to 28.24%.
Best Feature: Flexibility to switch your 3% category every month to match your spending.
Blue Cash Everyday® Card from American Express: Best for Everyday Spending
For everyday purchases like groceries and gas, the Blue Cash Everyday® Card from American Express is hard to beat.
Cashback: Earn 3% on groceries (up to $6,000 per year, then 1%), 3% on U.S. online retail purchases (up to $6,000 per year), 3% on gas, and 1% on everything else.
Intro APR: 0% intro APR for 15 months on purchases and balance transfers.
After that, the APR varies from 19.24% to 29.99%.
Pro Tip: No annual fee, making this card a perfect option for families who spend a lot on everyday necessities.
Wells Fargo Active Cash® Card: Best for Unlimited Cash Back
The Wells Fargo Active Cash® Card offers unlimited 2% cashback on all purchases, making it perfect for those who want consistent rewards across the board.
Cashback: Earn 2% on every purchase, no categories required.
Intro APR: 0% intro APR for 15 months on purchases and balance transfers, then a variable APR of 20.24% to 30.24%.
Best Feature: The straightforward and unlimited 2% cashback on everything makes it easy to use.
Capital One Quicksilver Cash Rewards Credit Card: Best for No-Fuss Cashback
Capital One Quicksilver is another excellent choice if you prefer a simple cashback structure without the hassle of rotating categories or limits.
Cashback: Earn 1.5% cashback on all purchases, every day.
Intro APR: 0% for 15 months on purchases and balance transfers, followed by a variable APR of 19.99% to 29.99%.
Pro Tip: Great for those who want no annual fee and a consistent cashback rate.
U.S. Bank Cash+® Visa Signature® Card: Best for Customizing Rewards
This card offers the ability to choose categories where you earn the most cashback, giving you more control over your rewards.
Cashback: Earn 5% on two chosen categories (up to $2,000 in combined purchases per quarter), 2% on one everyday category (like gas or groceries), and 1% on all other purchases.
Intro APR: 0% for 15 billing cycles on purchases and balance transfers.
After that, a variable APR applies between 18.74% and 28.74%.
Best Feature: Flexibility to choose categories where you spend the most, maximizing your cashback.
How to Choose the Right Cashback Card for You
The right card for you depends on your spending habits and financial situation.
Ask yourself these questions:
Do you prefer flat-rate cashback or do you want rotating categories?
Do you frequently carry a balance, and if so, do you need a lower APR to avoid high interest charges?
How important are introductory offers and bonuses to you?
Are you willing to pay an annual fee for potentially higher rewards, or would you rather keep it fee-free?
Conclusion: Start Earning Cash Back Today
Finding the perfect cashback card with low interest doesn’t have to be complicated.
With so many great options available, it’s all about matching a card to your specific needs.
Whether you want the flexibility of rotating categories, the simplicity of flat-rate rewards, or special cashback boosts on everyday spending like groceries and gas, there’s a card that can help you earn more while keeping interest charges low.
Do a little research, consider how you spend, and you’ll find the right card to maximize your savings and rewards.
Start earning cash back today, and watch how quickly those little rewards add up!
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