Best 5% Cash Back Card: Chase Freedom - NerdWallet
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Best 5% Cash Back Card: Chase Freedom

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There are three different credit cards out there right now that pay up to 5% cash back rewards and also offer signup promotions. And since you’re the type of consumer that manages to pay off your bills each month, all you care about is which credit card can, “Show you the money!”

Chances are, you already have a couple of credit cards, but only as a convenience measure, you’re not actually wearing any credit card debt. You don’t bother with low interest credit cards or balance transfer card offers, since your top three priorities are rewards, rewards, and more rewards. Obviously, a big check just for signing up for a credit card is a nice perk, and the lure of 5% cash back certainly doesn’t hurt.

But of course, there’s no such thing as a free lunch, and credit card companies are not in the charity business (quite the contrary), so of course there’s a catch. And each of these three cards has a different set of “gotchas,” so make sure you understand the fine print before you pick one.

Judging solely from the rewards, the Chase Freedom® appears to be the stand-out winner. With no limitations on 1% cash back rewards, and the highest quarterly cap on 5% cash back rewards, it would make a great addition to any rewards card portfolio. Especially if you pair it with a 2% cash back card, you’ll be well on your way to fully maximizing your cash back benefits.

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