Best Cash Back Bonus Card of 2021
Pros
- $200 sign-up bonus after $1,000 spend within 90 days.
- No annual fee.
- 3% cash back on category of your choice, up to $2,500 in combined choice & 2% category purchases per quarter.
- 6 awesome categories like online shopping, dining, travel, gas, drug stores, etc.
- 0% APR for 12 billing cycles on purchases. 13.99% - 23.99% variable APR after.
- Up to 5.25% cash back for Preferred Rewards customers.
by Greg Go - January 16, 2021
Greg Go - January 16, 2021
Wise Bread is an independent, award-winning consumer publication established in 2006. Our finance columns are syndicated on MSN, Yahoo Finance, US News, Business Insider, Money Magazine, and Time Magazine.
Like many news outlets our publication is partly supported by ad revenue paid by companies whose products appear on our site. This revenue may affect the location and order in which products appear. But revenue considerations never impact the objectivity and integrity of our editorial reviews. Due to time constraints we do not review all products in a given category.
Our reviews are based on objective data-driven evaluations from our world-class data analysts with degrees and honors from top programs such as NYU, Arizona State University, University of Minnesota Twin Cities, Columbia University, and Wharton.
Like many news outlets our publication is partly supported by ad revenue paid by companies whose products appear on our site. This revenue may affect the location and order in which products appear. But revenue considerations never impact the objectivity and integrity of our editorial reviews. Due to time constraints we do not review all products in a given category.
Our reviews are based on objective data-driven evaluations from our world-class data analysts with degrees and honors from top programs such as NYU, Arizona State University, University of Minnesota Twin Cities, Columbia University, and Wharton.
Greg Go is a credit card expert whose financial advice has been featured on US News & World Report, Business.com, and Yahoo! Finance.
Wise Bread is an independent, award-winning consumer publication established in 2006. Our finance columns are syndicated on MSN, Yahoo Finance, US News, Business Insider, Money Magazine, and Time Magazine.
Like many news outlets our publication is partly supported by ad revenue paid by companies whose products appear on our site. This revenue may affect the location and order in which products appear. But revenue considerations never impact the objectivity and integrity of our editorial reviews. Due to time constraints we do not review all products in a given category.
Our reviews are based on objective data-driven evaluations from our world-class data analysts with degrees and honors from top programs such as NYU, Arizona State University, University of Minnesota Twin Cities, Columbia University, and Wharton.
Like many news outlets our publication is partly supported by ad revenue paid by companies whose products appear on our site. This revenue may affect the location and order in which products appear. But revenue considerations never impact the objectivity and integrity of our editorial reviews. Due to time constraints we do not review all products in a given category.
Our reviews are based on objective data-driven evaluations from our world-class data analysts with degrees and honors from top programs such as NYU, Arizona State University, University of Minnesota Twin Cities, Columbia University, and Wharton.
Bottom Line:
- $200 online sign-up bonus offer.
- NEW 3% cash back on online shopping, drug stores, travel, dining, home improvement and furniture, or gas. Up to 5.25% for Preferred Rewards clients.
- Best Intro APR - Stop thinking about interest for a year.
- No annual fee.
The Bank of America® Cash Rewards credit card’s $200 bonus offer and 3% cash back is the best deal I’ve seen in my ten years of reviewing credit cards for Yahoo, US News, and Wise Bread. (See comparison chart)
If you sign up online today you can receive a $200 online cash bonus after spending only $1,000 in the first 90 days of opening the account — that’s like earning 20% back on the first $1,000!
Looking to make a big purchase? This card's long intro period will save you a bundle. It's like taking a 12 month vacation from paying interest.
The card offers an insane 3% cash back on your choice of six categories and 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases), and unlimited 1% on all other purchases. These are the categories that you can choose to earn 3%:
- Online Shopping
- Drug Stores
- Dining
- Travel
- Gas
- Home Improvement
| Online Shopping | Drug Stores | Dining |
| Travel | Gas | Home Improvement |
You choose the category you want to get 3% cash back for, and it stays on that category until you change it. Unlike other high cash back cards, there is no monthly activation required, and the categories don’t rotate. You can change the category once per calendar month.
The 3% for online shopping is the best in the industry. It applies to all online retailers. I already have this credit card and I love getting 3% back each time I shop online.
I also like the 3% back for drugstores, which is perfect for families that buy a lot of household goods and medication. Around summer time I’ll be taking advantage of the 3% gas for road trips and travel bookings.
Up to 5.25% Cash Back
Bank of America’s Preferred Rewards clients earn an extra 25%-75% bonus rewards. As a long time Bank of America and Merrill Lynch customer, I’m excited about getting up to 5.25% cash back on an online purchase, and at least 1.75% on other purchases.
Who Should Get This Card
Bank of America Cash Rewards is a great fit for most people — who doesn’t love a $200 bonus, intro interest for a year, and no annual fee?
The high 3% cash back on online shopping, drug stores, dining, travel, furniture, or gas is unheard of for a no annual fee credit card. Bank of America Cash Rewards pretty much blows its leading competitors out of the water (see comparison chart).
This is why I’ve personally been using this card for years and recommend it to all my friends. This combination of features is too good to pass up.
| Bank of America Cash Rewards | Capital One® Quicksilver® | |
 Editor’s Pick |  | |
| Annual Fee | ||
| $0 | $0 | |
| Bonus Offer | ||
| $200 | $150 | |
| 3% cash back on online shopping, drug stores, dining | ||
| Yes | No | |
| 2% cash back on groceries | ||
| Yes | No | |
| Extra bonus for existing bank customers | ||
| Yes (up to 25% - 75%) | No | |
| 100% U.S. Based Customer Service | ||
| Yes | No | |
| Our pick | ||
 |  | |
Apply Now  | ||
| Bank of America Cash Rewards | Capital One® Quicksilver® | |
Editor’s Pick | | |
| Annual Fee | ||
| $0 | $0 | |
| Bonus Offer | ||
| $200 | $150 | |
| 3% cash back on online shopping, drug stores, dining | ||
| Yes | No | |
| 2% cash back on groceries | ||
| Yes | No | |
| Extra bonus for existing bank customers | ||
| Yes (up to 25% - 75%) | No | |
| 100% U.S. Based Customer Service | ||
| Yes | No | |
| Our pick | ||
| | |
| Apply Now | ||
