3 Essential Cash-Back Credit Cards (And Why You Should Have Them In Your Wallet)

3 Amazing Cash-Back Credit Cards!

When I was growing up, It seemed like there were many more negative depictions of credit card use than positive ones. Maybe this was for the best, as it certainly made me very cautious when considering getting a credit card of my own. And yet, this image also caused me to miss out on the essential personal finance lessons for far longer than I should have: Cash-back credit cards are an essential part of building your financial future!

In this article, we are going to explore three amazing cash-back credit cards for young professionals, along with learning just how and why credit cards are so important to your financial future. Keep reading to find out!

What are Cash-back Credit Cards?

What are cash-back credit cards?

I’m fairly confident that most of us are aware of what a credit card is: A line of financial credit extended by a company against which you can borrow money. If you do not pay off your debt at the end of each month you can run into the negative impacts of high interest rates.

Cash-back credit cards are credit cards that offer specific cash-back incentives for purchases made with the card. You could look at it as a discount or rebate earned each time you swipe or insert the chip. So why should you get a cash-back credit card? Find out below!

Why Should You Use Cash-Back Credit Cards?

Why should you use cash-back credit cards?

So what makes cash-back credit cards such an essential personal finance tool? The answer is simple! As long as you can pay off every dollar spent with your credit card at the end of the month, using cash-back cards offer the following incentives:

  • Building your credit score – Your future big life investments will require an established credit score, and paying off credit card incentives responsibly is a key part of that!
  • Minimizing your expenses – Cash-back cards allow you to reduce your monthly expenses by using it to pay everything from phone bills to grocery payments
  • Maximizing your savings – The greatest credit cards are those that give you cash-back bonuses for specific categories of purchases! This means you can tailor your credit card usage to your needs

Are you looking to learn which cash-back credit cards are right for young professionals? Keep reading below!

Card 1: The American Express Blue Cash Everyday

American Express Blue Cash Everyday Card
Courtesy of American Express

The first cash-back credit card we will explore today is the American Express Blue Cash Everyday card. This card is a personal finance essential due to its category bonuses in grocery and gas purchases. Check out the details below!

American Express Blue Cash Everyday Details:

  • Annual Fee – $0
  • Credit Required – Good to Excellent
  • Interest Rate – 0% intro APR on balance and transfers for first 15 months, then 14.99-25.99% variable APR
  • Cash-Back Incentives – 3% on groceries, 2% on gas, 1% on all other purchases
  • Special Offers – Earn a $150 statement credit after spending $1,000 in the first three months

There is another version of this card with an annual fee known as the American Express Blue Cash Preferred. I personally use this card as despite the $95 fee, as you receive 6% cash-back for grocery purchases, 3% for gas purchases, 1% for miscellaneous expenses, and a $250 statement credit after spending $1,000 in the first three months.

Interested in applying for your own American Express card? You can earn an improved special offer of $300 after spending $1,000 in your first three months by applying through the referral link below!

Apply to American Express and earn $300 after spending $1,000 in three months!

Card 2: The Capital One SavorOne

The Capital One SavorOne Card.
Courtesy of Capital One

Our second cash-back credit card is the Capital One SavorOne. Like the previous American Express card on our list, this card offered by Capital One is a fantastic opportunity to gain savings on specific spending categories. This time, it’s with an emphasis on entertainment. Find out more below!

Capital One SavorOne Details:

  • Annual Fee – $0
  • Credit Required – Good to Excellent
  • Interest Rate – 0% intro APR for 15 months, then 16.24-26.24% variable APR
  • Cash-Back Incentives – 3% cash-back on dining and entertainment, 2% cash-back on groceries, and 1% cash-back on miscellaneous spending
  • Special Offers – Earn a $150 cash-bonus after spending $500 in the first three months

You can find another version of this card with an annual fee known simply as the Capital One Savor. Personally I opt for the SavorOne due to my personal spending habits, but for a $95 annual fee after your first free year you earn a total of 4% cash-back on dining and entertainment, 2% cash-back on groceries, and 1% on all other purchases. You also receive a $300 cash bonus after spending $3,000 in the first three months.

Thinking of adding this credit card to your collection? You can apply by following the link below!

Apply for the Capital One SavorOne Cash-Back Card Today!

Card 3: The Wells Fargo Cash Wise Card

The Wells Fargo Cash Wise Card
Courtesy of Wells Fargo

The third in our series of essential cash-back credit cards is the Wells Fargo Cash Wise card. This was the third card that I added to my collection as it was the perfect way to balance my spending with a flat cash-back rate for any purchases that failed to fall under the categories of my other two cards. Let’s learn more below!

Wells Fargo Cash Wise Details:

  • Annual Fee – $0
  • Credit Required – Good to Excellent
  • Interest Rate – 0% intro APR for 15 months, then 15.99-27.99% variable APR
  • Cash-Back Incentives – 1.5% cash-back on all purchases (no category restrictions)
  • Special Offers – Earn a $150 cash-back bonus after spending $500 in the first three months

Does this card sound like it would be a great addition to your wallet? You can apply by following the link below!

Apply for the Wells Fargo Cash Wise Cash-Back Card Today!

Conclusion

We conclude our review of cash-back credit cards.

Let’s recap what we’ve learned over the course of this article about cash-back credit cards. First and foremost, credit cards are an essential part of your personal finance as they allow you to build credit and save money with cash-back incentives! Secondly, so long as you make purchases responsibly and pay off your card each month you can avoid the curse of consumer debt that can quickly cause your personal finances to spin out of control.

As for our recommended cash-back cards, here is a review of the total benefits you receive by having these three cards in your wallet:

  • Annual Fees – $0=190
  • Cash-Back Incentives – 3-6% on groceries, 2-3% on gas, 3-4% on entertainment and dining, and 1.5% on all other purchases
  • Special Offers – Up to $600 after spending $2,000 in the first three months

There is no reason to ever swipe your debit card when you could swipe your cash-back credit cards instead! Get the most out of building credit and earning cash-back by making your wallet smarter.

Would you like to see more of our personal finance resources? Are you interested in learning to budget or pick up a side-hustle? You won’t want to miss these two articles below!

“The Comprehensive Guide to Budgeting”

“6 Digital Side-Hustles You Can Start From Your Laptop”

Do you still have questions about picking the perfect cash-back credit card? Have you found credit cards of your own that have been an important part of your personal finance? Be sure to share in the comments below!

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