The Top 3 Cash Back Credit Cards with No Annual Fee

Spring has arrived, and that means summer is only a few months away. If you’re thinking of different ways to cut down on expenses and save up for a summer vacation, then you may want to consider a cash back credit card. There are great cash back credit card deals being offered by the major credit card companies right now, including several cards with no annual fee.

Here are my picks for the best cash back credit cards of 2013:

  1. Discover it Card – The Discover it Card is my favorite cash back credit card with no annual fee currently on the market. With the Discover it Card, cardholders receive 5% cash back on rotating categories such as restaurants, gas, groceries, entertainment, and more throughout the year. In addition, cardholders also receive 1% cash back on all other purchases. The Discover it Card also offers a 0% Intro APR on both purchases and balance transfers for 14 months, and charges no over-limit fees, no foreign transaction fees, and no pay-by-phone fees. Lastly, Discover will not increase cardholders’ APR when they pay late.
  2. Capital One Cash Rewards Card – The Capital One Cash Rewards Card is another great choice for a cash back credit card with no annual fee. With the Capital One Cash Rewards Card, cardholders receive a $100 bonus when they spend $500 on purchases in the first three months that they have the card. The card offers a 1% cash back bonus on all purchases, but also offers a 50% bonus at the end of each year on the cash back you earned throughout the year. This bonus pushes the effective cash back rate to 1.5% on all purchases. Cardholders also receive a 0% Intro APR on purchases and balance transfers until February 2014. The card is also customizable with an image of the cardholders’ choice.
  3. Blue Cash Everyday from American Express – The American Express Blue Cash Everyday Card closes out my list of the top three best cash back credit cards with no annual fee currently on the market. With the Blue Cash Everyday Card, cardholders earn 100 Reward Dollars after they make $1,000 in purchases in the first three months that they have the card. In addition, the card offers 3% cash back at United States supermarkets, 2% cash back at gas stations and major department stores, and 1% cash back on all other purchases. The card also offers a 0% Intro APR on purchases for 12 months. The only reason the card isn’t higher on this list is because the 3% cash back rate at supermarkets reverts to 1% after $6,000 in purchases.

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