Best Cash Back Cards For December 2020

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)


  • 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)


  • 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)


  • 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)


  • 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)


  • 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


  • Brennan, Chelsea. “The Best Cash Back Credit Cards Of December 2020.” Forbes, Forbes Magazine, 24 Nov. 2020,


Ian Schindler