Are you dreaming about your next big vacation? Do you have holiday travel plans? If so, you might consider a travel rewards credit card. If you have good to excellent credit, you can use these cards to earn great rewards and maximize your spending — which is perfect for your holiday shopping.
To help you find the best rewards card, here are a few of December’s best cash back credit cards.
Most Affordable Cash Back Card
Citi Double Cash
Rewards Rate: Up to 2%
Welcome Bonus: None
Annual Fee: $0
Regular APR: 13.99% – 23.99% (Variable)
Credit Score Requirement: Excellent (750 – 850)
Features:
- Receive 2% cash back on all purchases — 1% at the time of sale, plus an extra 1% when you pay your monthly bill
- Pay the minimum balance on time every month to qualify for cash back rewards
- Pay 3% of the balance (or $5) per transfer
- Zero APR for 18 months on all balance transfers, then 13.99% – 23.99% depending on your credit history
- Balance transfers are not eligible for cash back
- Waive interest on balance transfer purchases by paying on time and in full
Best Sign-On Rewards
Discover it Cash Back
Rewards Rate: Up to 5%
Welcome Bonus: Cashback Match
Annual Fee: $0
Regular APR: 11.99% – 22.99% (Variable)
Credit Score Requirement: Good to Excellent (700 – 750)
Features:
- Discover’s Unlimited Cash Back Match program automatically matches your total cash back after your first year, with no restrictions on spending or rewards
- Get 5% back on the things you buy every day when you pay with PayPal, including Amazon, the supermarkets, dining, and gas stations (up to the quarterly limit)
- Earn unlimited 1% on everything else; no sign-up or activation required
- No restrictions on cash back. You can redeem your rewards at any time, with no minimum amount requirements or expiration
- Save when you shop on Amazon by checking out with your cash back
- Get access to Discover’s complimentary credit monitoring service. Discover will notify you if your Social Security number or other personal information appears on the Dark Web
- Accepted by 99% of merchants
Best Credit Card For The Grocery Store
Blue Cash Preferred From American Express
Rewards Rate: Up to 6%
Welcome Bonus: Up to $300. Expires December 10, 2020
Annual Fee: $0 for one year, then $95. Expires December 10, 2020
Regular APR: 13.99%-23.99% (Variable)
Credit Score Requirement: Good to Excellent (700 – 750)
Features:
- From now until December 10, get $300 in statement credit when you spend $3,000 within six months after account opening
- Earn 6% cash back at the grocery store on the first $6,000 you spend, then 1% on everything after that
- Get another 6% cash back on eligible streaming services
- Earn 3% cash back at the gas station and transportation such as taxis, rideshares, trains, parking, and more
- Receive unlimited 1% cash back on everything else
- Get access to American Express Plan It, which lets you make monthly installments on purchases of $100 or more interest-free at a flat rate
- Cash back is distributed as Reward Dollars, which you can exchange for statement credits
Best Credit Card With Rotating Categories
Chase Freedom Flex
Rewards Rate: Up to 5%
Welcome Bonus: $200 bonus
Annual Fee: $0
Regular APR: 14.99 – 23.74% (Variable)
Credit Score Requirement: Good to Excellent (700 – 749)
Features:
- Get $200 when you spend $500 with your card within three months after opening your account
- Earn 5% cash back on the first $12,000 you spend at supermarkets (excluding Target and Walmart) during your first year
- 5% cash back on up to $1,500 spent on rotating bonus categories every quarter
- Receive 5% cash back when you make your travel plans with Chase, plus 3% on dining and drugstores and 1% on everything else
- No restrictions on cash back, including minimums to redeem or expiration dates
Best Cash Back For Long-Distance Drivers
Costco Anywhere Visa Card by Citi
Rewards Rate: Up to 4%
Welcome Bonus: none
Annual Fee: $0
Regular APR: 15.24% (Variable) on purchases and balance transfers
Credit Score Requirement: Excellent (750 – 850)
Features:
- Costco members can save even more with 4% cash back on the first $7,000 spent on qualifying gas purchases every year, then 1% after
- Get 3% cash back on dining and qualifying travel purchases
- Earn 2% back on everything you buy from Costco, both in-store and online
- 1% cash back on everything else
Source
- Brennan, Chelsea. “The Best Cash Back Credit Cards Of December 2020.” Forbes, Forbes Magazine, 24 Nov. 2020, www.forbes.com/advisor/credit-cards/best/cash-back/.