Cash Back Cards with $0 Annual Fee Worth Considering in 2023

Consumers are looking for more ways to save, and cash back credit cards can help. It’s a common misconception that you need a premium card with a fee to reap the benefits of a rewards card. While that might be true for travel rewards (most of our top picks do have fees), many quality cash back cards come with $0 annual fee.

We’re going to breakdown our three favorite cards in this article. They share many similar quality, which make them great cards, but we’re going to highlight the unique factors that might make them a better pick for certain cardholders.

• Capital One Quicksilver Cash Rewards Credit Card
• Citi® Double Cash Card – 18 Month BT offer
• Chase Freedom Unlimited®

Capital One Quicksilver Cash Rewards Credit Card Breakdown

Capital One Quicksilver Cash Rewards Credit Card has an attractive introductory offer that most cardholders will be able to achieve. Their mobile app, website, and card management are user friendly. Capital One makes it easy to maximize rewards through a variety of redemption types.

Intro Offer: bonus_miles_full
Intro APR: intro_apr_rate,intro_apr_duration
Regular APR: reg_apr,reg_apr_type
Credit Score: credit_score_needed
Cash Back: Unlimited 1.5% cash back on every purchase
Annual Fee: annual_fees

We think that Capital One as a whole offers consumers some attractive opportunities which make becoming a Capital One Quicksilver Cash Rewards cardholder even more attractive. First, we’ll cover the card itself.

The Capital One Quicksilver Cash Rewards card offers unlimited 1.5% cash back on every purchase, every day. That means no categories to optimize for – no worrying about which card you’re using at the gas station vs grocery store. Simple cards with straightforward rewards might make it easier to get the most out of them. In addition, cardholders can earn an extra 5% cash back on hotels and rental cars booked via Capital One Travel – one of our favorite travel booking engines.

Make Your Rewards Go Further

Cardholders can extend their savings even more by using the Capital One Shopping portal or Chrome browser extension. This allows you to take advantage of rebate options with some of your favorite online retailers (cash back varies by retailer, but usually ranges between 1% and 10%).

While 1.5% cash back isn’t the best rate (although it is competitive), cardholders might also enjoy using Capital One for more of their products like their high yield savings account, which has a significantly higher rate than most big banks. Additionally, small business owners can maximize their rewards by easily transferring points or miles between personal and business accounts.

Redemption of your cash back rewards is easy. Cardholders can choose to have Capital One send a check, redeem for a statement credit, cover a recent expense, or redeem for gift cards.

Learn More About This Card >>

Citi® Double Cash Card – 18 Month BT offer Review

The card_name comes with an attractive introductory bonus offer, and a slightly total cash back for cardholders that pay off their balance on time. This card might be a strong contender due to Citi® offering an 18 month 0% APR offer on balance transfers. Citi is a WiseMoneyLife.com advertiser.

Intro Offer: There is currently no traditional bonus offer, but the art does offer a an 18 month 0% APR offer on balance transfers (then reg_apr,reg_apr_type).
Intro Balance Transfer APR: balance_transfer_intro_apr,balance_transfer_intro_duration
Regular APR: reg_apr,reg_apr_type
Credit Score: credit_score_needed
Cash Back: bonus_miles_full
Annual Fee: annual_fees

What Makes This Card Special

This card also offers a straightforward way to earn – no categories to worry about. However, Citi® has approached their cash rewards in a creative way to reward cardholders that pay their balances off. Cardholders with the card_name are rewarded with 1% cash back when they make a purchase, plus 1% cash back when they pay for those purchases.

It’s no secret that many consumers have been using their cards more over the last 12 months. The 18 month 0% APR offer on balance transfers might be an attractive way to consolidate credit card debt for some. Keep in mind, balance transfers do not qualify for cash back rewards.

Frequent travelers might not like this card as much as card_name. Citi® hasn’t built out the travel booking infrastructure that the other card companies have, it doesn’t give extra bonus rewards for travel booking, and it does have a foreign transaction fee. However, the extra 1% bonus for paying off purchases made with the card might make up for where it’s lacking.

Chase Freedom Unlimited®

Some cardholders that like to be more strategic with their spending might make the Chase Freedom Unlimited® card their foundational card to fill in rewards gaps. This $0 annual fee card earns 1.5% unlimited cash back on all purchases, plus it comes with an attractive introductory offer to sweeten the deal.

Intro Offer: bonus_miles_full
Intro APR: intro_apr_rate,intro_apr_duration, balance_transfer_intro_apr,balance_transfer_intro_duration
Regular APR: reg_apr,reg_apr_type
Credit Score: credit_score_needed
Cash Back: 1.5% cash back
Annual Fee: annual_fees

The Chase Freedom Unlimited® card is one of the most popular credit cards on the market right now. Earning cash back, like our other favorite cards, is very straight forward. Similar to the Capital One Quicksilver Cash Rewards card, the Chase Freedom Unlimited® card pairs well with other cards within the issuer’s system to maximize points. We think small business owners with Chase cards will appreciate having one for personal use. Transferring points from one account to another is easy.

Cash Back Rewards System

This card uses a tiered cash rewards structure, with 1.5% on all purchases as its base. The bonus offer adds an additional 1.5% on all purchases (up to $20,000 spent in the first year). Here’s how it breaks down:

• 5% cash back on travel purchases through the Chase Ultimate Rewards® portal (6.5% during the bonus offer period)
• 3% cash back at restaurants, which includes takeout and delivery (4.5% during the bonus offer period)
• 3% cash back on drugstore purchases (4.5% during the bonus offer period)
• 1.5% cash back on all other eligible purchases (3% during the bonus offer period)

In addition to the cash back bonus offer, the Chase Freedom Unlimited® card currently offers a 0% Intro APR for 15 months, starting with the account opening date, which covers purchases and balance transfers (reg_apr,reg_apr_type).

Redeeming cash back with the Chase Freedom Unlimited® card is easy. Rewards can be redeemed via gift cards, a statement credit, travel (via Chase Ultimate Rewards® or select booking websites), or cash via check or direct deposit. Their direct deposit option is especially interesting if you want to maximize your investment or retirement accounts with rewards points.

One of the major drawbacks to the Chase Freedom Unlimited® card is that it does have a foreign transaction fee. If you travel within the United States, that’s not a big deal. However, global travelers might prefer the Chase Sapphire Preferred® Card (a top pick for our travel rewards cards).

Learn More about this Card

Cash Back Credit Card Options

If you’re in the market for $0 annual fee cash back credit cards, there are even more options (go here for no annual fee cards). It all depends on your personal spending habits, or even the habits you’re trying to build. Here are a few things to consider if you’re still on the fence:

1. Are you interested in maximizing your rewards more with a points program vs. cash back program?
2. Are there additional products that the card issuer might offer, like banking, mortgages, or high yield savings? If so, are those important you?
3. Does the card offer enough benefits to match your lifestyle/spending habits, or should you consider an annual fee card?

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