5% Cash Back Credit Cards - Top 3 Reviewed

Cash back credit cards have been around for over 20 years now. Up until the last 5 years or so, the actual percentage back that you could earn was mediocre at best, usually offering somewhere between 0.25 and 1%.

Over the last half decade, however, with competition amongst credit card issuers at an all time high, it is not uncommon to find credit cards that will pay you up to 5% cash back for your purchases.

I spent a bit of time comparing cash back cards that offer a 5% return and there are basically 3 credit cards that offer this high rate of return to customers.

1. Blue Cash From American Express

  • Earn up to 5% cash back on everyday purchase, including gas
  • 0% Intro APR for up to 12 months on purchases
  • 2.99% for 12 months on balance transfers
  • Express Approval. Get a decision in less than 60 seconds.

2. Discover More Card

  • Unlimited cash rewards
  • Up to 20% Cashback Bonus when you shop online
  • Double rewards with more than 100 of their "Cash back Bonus Partners"
  • 0% Intro APR for 12 months on Purchases and Balance Transfers

3. Discover Motiva Card

  • Gives you extra cash back for good credit management and paying on time
  • 5% to 20% Cashback Bonus at many top retailers
  • Unlimited cash rewards available, so there is no limit
  • Ability to double your rewards if you turn it in for gift cards with retailers
  • 3.99% Intro APR for 6 months on Purchases, and 12 months on Balance Transfers

All of these cards are good, no annual fee credit cards, but is important to note that there are many different terms and conditions that pertain to rewards programs. Make sure to read the card details before applying for a cash back credit card.

If used properly, a 5% cash back credit card can earn families as much as a couple thousand dollars back each year. By setting up recurring bills to charge to a cash back card rather than a checking account, you give yourself the opportunity to earn a great deal of cash rewards on purchases you were going to need to make anyway.