A lot has changed in the two and a half years since the last post about 5%+ cash back cards. This is a (hopefully) comprehensive survey of the current landscape of high-earning rewards cards. For the sake of brevity, important caveats about categories have (generally) not been elucidated and only cards that earn cash back or points with cash value (close to 1 cpp) are included—so no hotel or airline cards. Additionally, cards with limited-time offers are excluded (such as the Wells Fargo Visa Signature card or the discontinued BBVA Compass NBA), as are cards with limited redemption options (such as the CapitalOne BuyPower Card).
You can view our list of best credit cards for certain types of spend here.
If you notice anything missing, have suggestions, or have questions, please drop a comment!
Last updated January 24, 2018.
Contents
- 1 Personal Cards
- 1.1 Cards with No Annual Fee
- 1.2 Cards with an Annual Fee
- 1.3 Cards with Enhanced Cash Back when Redeeming Points
- 1.3.1 Enhanced by the Chase Sapphire Reserve ($450 AF)
- 1.3.2 Enhanced by the Chase Sapphire Preferred, Ink Plus, or Ink Preferred ($95 AF)
- 1.3.3 Enhanced by the American Express Business Platinum ($450 AF)
- 1.3.4 Enhanced by the American Express Platinum Card for Schwab ($450 AF)
- 1.3.5 Enhanced by the FlexPoints Program
- 1.3.6 Enhanced by the Merrill Lynch Travel Portal
- 1.3.7 Enhanced by Best Buy
- 2 Business Cards
- 2.1 Cards with No Annual Fee
- 2.2 Cards with an Annual Fee
- 2.3 Cards with Enhanced Cash Back when Redeeming Points
- 2.3.1 Enhanced by the Chase Sapphire Reserve ($450 AF)
- 2.3.2 Enhanced by the Chase Sapphire Preferred, Ink Plus, or Ink Preferred ($95 AF)
- 2.3.3 Enhanced by the American Express Business Platinum ($450 AF)
- 2.3.4 Enhanced by the American Express Platinum for Schwab ($450 AF)
- 2.3.5 Enhanced by the FlexPoints Program
Personal Cards
Cards with No Annual Fee
| % Back / x Points | Categories | Card | Cap (max yr earning) |
| 5x | Rotates Quarterly | Chase Freedom | $1,500 / qtr (30,000 UR) |
| 5% | Rotates Quarterly | Discover it | $1,500 / qtr ($300) |
| 5% | Rotates Quarterly | Citi Dividend | $6,000 / yr ($300) |
| 5% | You Choose Options That Rotate Quarterly | US Bank Cash+ | $2,000 / qtr ($400) |
| 5% | Sporting Goods Stores & Gas | FNBO Ducks Unlimited | None |
| 5% | Sporting Goods Stores & Gas | FNBO NRA Complete Rewards | None |
| 5% | Target | Target REDcard (Credit & Debit) | None(?) |
| 5x | Priceline.com | Barclaycard Priceline.com Rewards | None(?) |
| 5% | Hotels through Orbitz App | Comenity Orbitz Rewards | None(?) |
| 5% | Barnes & Noble | Barclaycard Barnes & Noble | None(?) |
| 5% | Mens Wearhouse | Synchrony Perfect Fit | None(?) |
Credit Union Cards
| % Back / x Points | Categories | Card | Cap (max yr earning) |
| 5% | Everything | People Caring More CU MasterCard Platinum Rewards | $50 / mo ($600) |
| 5x | Airfare | PenFed Premium Travel Rewards | None |
| 5% | Gas | Fort Knox FCU Visa Platinum | None |
| 5x | Gas (pump only) | PenFed Platinum Rewards | None |
| 5% | Rotates Quarterly | Nusenda FCUÂ Visa Platinum Cash Rewards | $1,500 / qtr ($300) |
| 4x | Gas | InFirst FCU Visa Rewards Card | None(?) |
| 4x | Rotates Quarterly | Nusenda FCU Visa Platinum Rewards | $1,500 / qtr (24,000 points) |
Cards with Special Requirements
| % Back | Categories | Card | Cap (max yr earning) | Special Rqmts |
| 10% | Rotates Quarterly | Discover it | $1,500 / qtr ($750) | must be in first 12 consecutive billing periods of card membership (which can span 5 qtrs) |
| 5.5% | Costco | BankAmericard Cash Rewards | $2,500 / qtr ($550) | must have Costco Executive membership ($110 / yr), exclusions here, AND be a Platinum Honors client, AND redeem into a Bank of America checking or savings account |
| 5.25% | Gas | BankAmericard Cash Rewards | $2,500 / qtr ($525) | must be a Platinum Honors client, AND redeem into a Bank of America checking or savings account |
| 5% | Amazon.com | Chase Amazon Prime Rewards | None | must have Amazon Prime ($99 / yr or less) |
| 5% | Costco | BankAmericard Cash Rewards | $2,500 / qtr ($500) | must have Costco Executive membership ($110 / yr), exclusions here, AND be a Platinum client, AND redeem into a Bank of America checking or savings account |
| 5% | Drugstores, Gas, and Groceries | American Express (Old) Blue Cash | $50,000 / yr ($2,500) | must first spend $6,500Â at a rate of 1% on groceries, gas, and select drugstores, and 0.5% on all other purchases |
| 5% | Gas (pump only) | PenFed Platinum Cash Rewards Plus | None | must have a qualifying PenFed product, such as an active checking account with $250 in direct deposit per cycle |
| 5% | Gas | Sam’s Club MasterCard | $6,000 / yr ($300) | must have Sam’s Club membership ($45 / yr) |
| 5% | Gas & Military Base Purchases | USAA Cashback Rewards Plus American Express | $3,000 / yr ($150) | must be a USAA member |
| 4.5% | Gas | BankAmericard Cash Rewards | $2,500 / qtr ($450) | must be a Platinum client, AND redeem into a Bank of America checking or savings account |
| 4.5% | Costco | BankAmericard Cash Rewards | $2,500 / qtr ($450) | must have Costco Executive membership ($110 / yr), exclusions here, AND be a Gold client, AND redeem into a Bank of America checking or savings account |
| 4.2% | Costco | BankAmericard Cash Rewards | $2,500 / qtr ($420) | must have Costco Executive membership ($110 / yr), exclusions here, AND redeem into a Bank of America checking or savings account |
| 4.125x | Bank of America Travel Center | BankAmericard Travel Rewards | None | must be a Platinum Honors client |
| 4% | Gas | Citi Costco Anywhere | $7,000 / yr ($280) | must have Costco membership ($55 / yr) |
| 4% | Costco & Costco.com | Citi Costco Anywhere | $37,500 / yr ($1500) | must have Costco Executive membership ($110 / yr), exclusions here |
| 4% | Costco | All 2% Visas (whether flat 2% or 2% on wholesale clubs) | N/A | must have Costco Executive membership ($110 / yr), exclusions here |
Cards with an Annual Fee
| % Back / x Points | Categories | Card | Annual Fee | Cap (max yr earning) | Special Rqmts |
| 6% | Groceries | American Express Blue Cash Preferred | $95 | $6,000 / yr ($360) | |
| 5x | Airfare | American Express Platinum (all Personal flavors) | $450 | None | |
| 5x | Travel | First Hawaiian Bank Priority Destinations | $50 | $6,000 / yr (30,000 Priority Miles) | |
| 4.5x | Groceries | American Express Everyday Preferred | $95 | $6,000 / yr (27,500 MR) | must use card 30 or more times in a billing period |
Cards with Enhanced Cash Back when Redeeming Points
Points redemption options that always yield cold, hard cash (or equivalent, such as booked travel) at a defined & consistent rate above 1 point to 1¢ give you enhanced cash back, a term I just made up. In other words, (Points Earned) x (Redemption Avenue’s Cents Per Point) = % enhanced cash back.
The following caveats hold for Chase cards: you must be planning a trip you would pay for with cash, AND you must use Ultimate Rewards points to book travel through the Ultimate Rewards portal for the same price it would’ve cost you otherwise.
The following caveats hold for the American Express Business Platinum: you must be planning a flight you would pay for with cash, AND the flight you are planning must qualify for the 50% Airline Bonus, AND you must use Membership Rewards points to pay for the flight with Pay with Points (via amextravel.com) for the same price it would’ve cost you otherwise.
Similar caveats apply to the FlexPoints program. In all cases, an increased booking cost lowers your enhanced cash back while a decreased booking cost increases your enhanced cash back.
There are no caveats for the American Express Platinum Card for Schwab, which I could easily be convinced into crowning the best “enhancing card” (given a number of assumptions such as you already have a personal Platinum card, etc., etc.).
Note: the Citi ThankYou Premier and Citi Prestige cards would’ve made this list several months ago due to the fact that you could book American Airlines fares through the ThankYou Travel Center at a rate of 1.6¢. Alas, all redemptions are now at a rate of 1.33¢, which will be further reduced to 1.25¢ on July 23, 2017.
Enhanced by the Chase Sapphire Reserve ($450 AF)
The Chase Sapphire Reserve converts points to enhanced cash back at a rate of 1.5%.
| % Back | Categories | Chase Card | Annual Fee | Cap (max yr earning) |
| 7.5% | Rotates Quarterly | Freedom | $0 | $1,500 / qtr ($450) |
| 4.5% | Dining & Travel | Sapphire Reserve | $450 | None |
Enhanced by the Chase Sapphire Preferred, Ink Plus, or Ink Preferred ($95 AF)
The Chase Sapphire Preferred, Ink Plus, and Ink Preferred convert points to enhanced cash back at a rate of 1.25%.
| % Back | Categories | Chase Card | Annual Fee | Cap (max yr earning) |
| 6.25% | Rotates Quarterly | Freedom | $0 | $1,500 / qtr ($375) |
Enhanced by the American Express Business Platinum ($450 AF)
The American Express Business Platinum converts points to enhanced cash back at a rate of 1% plus 35% your points, for each redemption. (From October 5, 2016 thru May 31st, 2017, this was 50%. The change from 50% to 35% did not change the list of cards, only the supplementary points potential). Enough redemptions can put you at an enhanced cash back rate of 1.54%. note: continued redemptions (of the “+ #x” portion) eventually converts points to enhanced cash back at a rate of nearly 1.54%.
| % Back + x Points | Categories | American Express Card | Annual Fee | Cap (max yr earning) | Special Rqmts |
| 5% + 1.75x | Airfare | Platinum (all personal flavors) | $450 | None | None |
| 5% + 1.75x | Mercedes-Benz dealerships | Mercedes-Benz Credit Card | $95 | None | None |
| 4.5% + 1.575x | Groceries | EveryDay Preferred | $95 | $6,000 / yr ($540) | must use card 30 or more times in a billing period |
| 3% + 1.05x | Airfare | Premier Rewards Gold | $195 | None | None |
| 3% + 1.05x | Groceries | EveryDay Preferred | $95 | $6,000 / yr ($360) | None |
| 3% + 1.05x | Gas | EveryDay Preferred | $95 | None | must use card 30 or more times in a billing period |
| 3% + 1.05x | Gas | Mercedes-Benz Credit Card | $95 | None | None |
Enhanced by the American Express Platinum Card for Schwab ($450 AF)
The American Express Platinum Card for Schwab converts points to cash (in a linked Schwab brokerage account) at a rate of 1.25¢.
| % Back | Categories | American Express Card | Annual Fee | Cap (max yr earning) | Special Rqmts |
| 6.25% | Airfare | Platinum (all personal flavors) | $450 | None | None |
| 6.25% | Mercedes-Benz dealerships | Mercedes-Benz Credit Card | $95 | None | None |
| 5.625% | Groceries | EveryDay Preferred | $95 | $6,000 / yr ($337.50) | must use card 30 or more times in a billing period |
Enhanced by the FlexPoints Program
The FlexPoints program convert points to enhanced cash back at a rate of up to 2¢.
| % Back | Categories | US Bank Card | Annual Fee | Cap (max yr earning) | Notes |
| up to 6% | Restaurants | FlexPerks Gold | $85 | $120,000 / yr (N/A) | Cap is on the base rate of 1x, which drops to 0.5x after $120,000 in spending |
| up to 6% | Charitable Donations | FlexPerks Travel Rewards | $49 | $120,000 / yr (N/A) | Cap is on the base rate of 1x, which drops to 0.5x after $120,000 in spending |
| up to 4% | Airfare & Gas | FlexPerks Gold | $85 | $120,000 / yr (N/A) | Cap is on the base rate of 1x, which drops to 0.5x after $120,000 in spending |
| up to 4% | Category You Spent the Most on Each Billing Cycle: Airfare, Gas, or Groceries | FlexPerks Travel Rewards | $49 | $120,000 / yr (N/A) | Cap is on the base rate of 1x, which drops to 0.5x after $120,000 in spending |
Enhanced by the Merrill Lynch Travel Portal
| % Back | Categories | Merrill Lynch Card | Annual Fee | Cap (max yr earning) | Notes |
| up to 5% | Everything | Octave | $950 | None | When redeemed for airfare |
Enhanced by Best Buy
| % Back | Categories | Citi Card | Annual Fee | Cap (max yr earning) | Notes |
| 6% | Best Buy | My Best Buy &Â My Best Buy Visa Platinum | $0 | None(?) | must be Elite Plus ($3,500 / year spending at Best Buy); earns 3x at Best Buy which is 6% when converted to Best Buy Reward Certificate |
| 6% | Best Buy | My Best Buy Visa Gold | $59 | None(?) | those with poor credit get a Visa Gold instead of Visa Platinum; must be Elite Plus ($3,500 / year spending at Best Buy); earns 3x at Best Buy which is 6% when converted to Best Buy Reward Certificate |
| 5% | Best Buy | My Best Buy &Â My Best Buy Visa Platinum | $0 | None(?) | earns 2.5x at Best Buy which is 5% when converted to Best Buy Reward Certificate |
| 5% | Best Buy | My Best Buy Visa Gold | $59 | None(?) | those with poor credit get a Visa Gold instead of Visa Platinum; earns 2.5x at Best Buy which is 5% when converted to Best Buy Reward Certificate |
Business Cards
Cards with No Annual Fee
| % Back / x Points | Categories | Card | Cap (max yr earning) | Special Rqmts |
| 5% | Office Supply Stores & Wireless Telephone Services | American Express SimplyCash Plus | $50,000 / year ($2,500) | None |
| 5x | Office Supply Stores &Â Cable TV, Cellular Phone, Internet, and Landline Services | Chase Ink Cash | $25,000 / year (125,000 UR) | None |
| 5x | Business Expenses | First National Bank Business Edition Visa Card with Absolute Rewards | $25,000 / year (125,000 points) | None |
| 4% | Gas | Citi Costco Anywhere Business | $7,000 / yr ($280) | must have Costco membership ($55 / yr) |
| 4% | Costco & Costco.com | Citi Costco Anywhere Business | $37,500 / yr ($1500) | must have Costco Executive membership ($110 / yr), exclusions here |
Cards with an Annual Fee
| x Points | Categories | Card | Annual Fee | Cap (max yr earning) |
| 5x | Office Supply Stores &Â Cable TV, Cellular Phone, Internet, and Landline Services | Chase Ink Plus | $95 | $50,000 / yr (250,000 UR) |
Cards with Enhanced Cash Back when Redeeming Points
Enhanced by the Chase Sapphire Reserve ($450 AF)
| % Back | Categories | Chase Card | Annual Fee | Cap (max yr earning) |
| 7.5% | Office Supply Stores &Â Cable TV, Cellular Phone, Internet, and Landline Services | Ink Plus | $95 | $50,000 / year ($5,000) |
| 7.5% | Office Supply Stores &Â Cable TV, Cellular Phone, Internet, and Landline Services | Ink Cash | $0 | $25,000 / year ($2,500) |
| 4.5% | Advertising, Shipping, Travel & Cable, Internet, and Phone Services | Ink Preferred | $95 | $150,000 / year ($9,000) |
Enhanced by the Chase Sapphire Preferred, Ink Plus, or Ink Preferred ($95 AF)
| % Back | Categories | Chase Card | Annual Fee | Cap (max yr earning) |
| 6.25% | Office Supply Stores &Â Cable TV, Cellular Phone, Internet, and Landline Services | Ink Plus | $95 | $50,000 / year ($3,125) |
| 6.25% | Office Supply Stores &Â Cable TV, Cellular Phone, Internet, and Landline Services | Ink Cash | $0 | $25,000 / year ($1,562.50) |
Enhanced by the American Express Business Platinum ($450 AF)
| % Back | Categories | American Express Card | Annual Fee | Cap (max yr earning) | Notes |
| 3% + 1.5x | Choose One: Advertising, Airfare, Gas, Shipping, & Computer Hardware, Software, and Cloud Computing | Business Gold Rewards | $175 | $100,000 / yr ($6,000) |
Enhanced by the American Express Platinum for Schwab ($450 AF)
None exceed 3.75%.
Enhanced by the FlexPoints Program
| % Back | Categories | US Bank Card | Annual Fee | Cap (max yr earning) |
| up to 6% | Charitable Donations | FlexPerks Business Edge Travel Rewards Card | $55 | None(?) |
| up to 4% | Cellular Phone & Category You Spent the Most on Each Billing Cycle: Airfare, Gas, or Office Supply Stores | FlexPerks Business Edge Travel Rewards Card | $55 | None(?) |
