AUSTIN, Texas, Sept. 29, 2016 /PRNewswire/ -- The Citi Double Cash card is the best cash back credit card, according to CreditCards.com. The Citi Double Cash card won the top honor from the judges for its simple rewards structure and industry-leading 2 percent cash-back rate for general purchases. Citi Double Cash cardholders get 1 percent cash back with every purchase and 1 percent cash back when purchases are paid. The card also has no categories to track, no caps on cash back, and no annual fee. Click here for more information:
"When it comes to credit cards, the simpler, the better," said Matt Schulz, CreditCards.com's senior industry analyst. "Unlike many cash back cards, the Citi Double Cash card doesn't make you chase bonus categories. It just gives you up to 2 percent cash back on everything."
The Blue Cash Preferred card from American Express and the Chase Freedom Unlimited card tied for second place for best cash back credit cards. Judges say that the Blue Cash Preferred's errands-centric rewards program is so generous that it easily offsets the card's $95 annual fee. The Chase Freedom Unlimited card won high praises from the judges for its hassle-free rewards program.
Additionally, the Blue Cash Preferred card offers 6 percent cash back at U.S. supermarkets on up to $6,000 per year in purchases, and 3 percent cash back at gas stations and select department stores. However, the judges lamented that the card comes with a hefty annual fee, making it a riskier choice for cardholders who aren't sure how much they'll use it, but that the card's ample bonus on everyday purchases made up for the large fee.
Even though the Chase Freedom Unlimited card isn't as generous as some of its competitors by only offering 1.5 percent cash back on purchases, the judges liked the card's simplicity and reliable rewards as well as its $150 sign-up bonus. By contrast, the Citi Double Cash card doesn't offer a sign-up bonus.
To help choose the best cash back credit cards, CreditCards.com consulted credit card and personal finance experts and nominated three finalists. A panel of five judges – including independent experts and two members of the CreditCards.com staff – separately judged the three finalists and ranked them in order of preference. The card with the best average rank was chosen as the winner.
CreditCards.com is a leading online credit card marketplace, bringing consumers and credit card issuers together. At its free website, consumers can compare hundreds of credit card offers from America's leading issuers and banks and apply securely, online. CreditCards.com is also a destination site for consumers wanting to learn more about credit cards. Offering advice, news, features, statistics and tools, CreditCards.com helps consumers make smart choices about credit cards. In 2015, over 27 million unique visitors used CreditCards.com to find the right credit card to suit their needs.
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