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Best Cash Back Bonus Cards of 2022

by Greg Go - Last updated Jun 30, 2022

Greg Go is a credit card expert whose financial advice has been featured on US News & World Report, Business.com, and Yahoo! Finance.

Our Top Picks of Rewards Cards from Our Partners

#1 Bank of America Customized Cash Rewards

  • $200 online 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 over a year.
  • No annual fee.

The Bank of America® Customized Cash Rewards credit card's $200 bonus offer and 3% cash back is one of the best deals I've seen in my years of writing about credit cards for Yahoo, US News, and Wise Bread.

If you apply 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 15 month vacation from paying interest.

The card offers an incredible 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 Customized Cash Rewards is a great fit for most people — who doesn’t love a $200 bonus, intro APR for over 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 Customized Cash Rewards pretty much blows its leading competitors out of the water.

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.

» Click here to learn more about the $200 bonus offer and getting 3% cash back on online shopping or call Bank of America at 866-349-6262866-349-6262.

Apply Now   Apply Now   Apply Now  
at Bank of America's secure site
  • $200 online 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 over a year.
  • No annual fee.

 

 

 

Remember: The highest paying cash back card for you is the one that’s right for your spending habits. That’s why we like the Bank of America Customized Cash Rewards card so much – it is a great fit for most people due to its flexibility and high rewards potential. However, there are a couple of special categories of rewards that might be better for some people under specific circumstances – like if you have bad credit, no credit history, drive professionally, have a household of 6 people worth of groceries to buy every week, etc. In these situations you might want to check out one of these other cards I've reviewed.

"7 out of 10 of readers who selected a card from this page choose Bank of America's Customized Cash Rewards Card." (i)

#1 Our Pick For: Highest Flat Rate Cash Rewards

Wells Fargo Active Cash® Card Rates & Fees

This is our favorite combo of one of the highest flat cash rewards rate, generous signup bonus, and no interest until 2023.

  • Earn unlimited 2% cash rewards on purchases. This no-hassle flat rate deal is one of the best we’ve seen in years.
  • $200 cash rewards bonus after spending $1,000 on purchases in the first 3 months.
  • 0% intro APR for 15 months from account opening on both purchases and qualifying balance transfers, then 16.49%, 21.49%, or 26.49% variable APR after.
  • Up to $600 protection for your cell phone if monthly bill paid with this card ($25 deductible).
  • "My Wells Fargo Deals": An easy way to earn additional cash back (as statement credit) while you shop, dine, or enjoy an experience simply by using this card.
  • $0 Annual Fee.

#2 Our Pick For: Poor Credit or Rebuilding Credit

Discover it® Secured Credit Card Rates & Fees

If you have poor credit or need to rebuild your credit, the Discover it Secured credit card might be a good option. Not sure if you have poor credit? If you made a couple of late bill payments in the last two years, you probably cannot qualify for the top tier reward cards. The top tier credit cards with $200 bonuses like the Bank of America card we reviewed above require excellent credit. The Discover it Secured credit card doesn't require good credit, but it does require a security deposit. It is one of the few trustworthy secured cards that actually offers a little bit of cash back on purchases. More importantly, this card will report your payment history to the three major credit bureaus, which will give you an opportunity to rebuild your credit while earning some rewards. 

#3 Our Pick For: College Students

Discover it® Student Cash Back Rates & Fees

It is hard for college students to get high bonus credit cards because students often have no credit history. The credit reporting system known as FICO simply doesn’t have enough historical data from the college students to make a good determination. That’s why credit cards designed specifically for college students usually offer limited rewards and lower credit limits. The Discover it Student Cash Back is one of my favorites for college students because they can earn rewards while building their credit history. Discover also offers college students the ability to view their FICO Score for free from their website or the Discover app.

#4 Our Backup Pick for $200 bonus

Blue Cash Everyday® Card from American Express Rates & Fees

Our readers love good signup bonuses. Our top pick – Bank of America’s Customized Cash Rewards card – has a great signup bonus offer of $200 with $1,000 spend. However, if you already have that card here’s a backup pick: Amex’s Blue Cash Everyday. Blue Cash Everyday offers a $200 statement credit after you spend $2,000 in purchases within the first 6 months of card membership. It also features 3% cash back at U.S. supermarkets on up to $6,000 per year in purchases, then 1%. Like all the other cards on this list, Blue Cash Everyday doesn’t charge an annual fee (see rates and fees).

For rates and fees of the Blue Cash Everyday® Card from American Express, please click here

Bottom Line: Final Thoughts on My Number 1 Pick

The Bank of America® Customized Cash Rewards credit card's $200 bonus offer and 3% cash back is one of the best deals I've seen in my years of writing about credit card for Yahoo, US News, and Wise Bread.

If you apply 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!

» Click here to learn more about the $200 bonus offer and getting 3% cash back on online shopping or call Bank of America at 866-349-6262866-349-6262.

Apply Now   Apply Now   Apply Now  
at Bank of America's secure site
  • $200 online 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 over a year.
  • No annual fee.