Best American Express Cash-Back Credit Cards September 2022
American Express, Member FDIC, is well-known for its travel services and rewards credit cards, but it also offers an interesting stable of cash-back cards. For customers that either don’t travel that much or don’t want to waste time worrying about converting rewards points or miles into something of tangible benefit, a cash-back card can be the optimal fit.
All of these cards provide at least 1% cash back on all purchases, but each one also has unique kickers that provide much higher cash-back benefits depending on how customers use them.
4 Best American Express Cash-Back Rewards Cards
To find the right card for you, look through this overview of the four best American Express cash-back cards. Take note of which bonus categories most closely match your own everyday spending patterns, and be sure to note whether or not a card carries an annual fee, as that can affect the total amount of cash-back rewards you can earn.
|Credit Card||Best For||APR||Features|
|Cash Back on Groceries and Streaming||APR||– $350 statement credit after you spend $3,000 in purchases within the first six months
– 6% cash back at U.S. supermarkets, up to $6,000 a year; after that, 1% cash back
– 6% cash back on eligible U.S. streaming services
– 3% cash back on transit and gas
– 1% cash back on all other purchases
|No-Fee Cash Back||APR||– $200 statement credit after you spend $2,000 on purchases within the first six months
– 3% cash back on U.S. supermarkets, gas stations and online retail purchases up to $6,000 per category annually, then 1%
– 1% cash back on all other purchases
|Flat Cash-Back Rate||APR||– $200 statement credit after you spend $2,000 in purchases within the first six months of opening the account
– 1.5% cash back on all your purchases
|USAA Federal Savings Bank Cashback Rewards Plus American Express® Credit Card||Cash Back for USAA Members||14.15% to 28.15% APR||– 5% cash back on your first $3,000 in combined gas station and military base purchases yearly
– 2% cash back on your first $3,000 in grocery purchases yearly
– Unlimited 1% cash back on all other qualifying purchases
American Express Blue Cash Preferred Credit Card
Best for: Cash back on groceries and streaming
Groceries and streaming have become a way of life during the pandemic, and that combination of spending makes the American Express® Blue Cash Preferred credit card a good card to have.
The top tier 6% cash back you’ll receive on U.S. supermarkets — up to $6,000 per year, then 1% — and select U.S. streaming subscriptions is just about the best you’ll find in the industry. You’ll also earn 3% cash back on transit and gas and 1% on all other purchases, all for the annual fee. Currently, new card members will also enjoy a 0% promotional APR on all purchases and balance transfers for the first 12 months, followed by a APR.
The Welcome Offer for this card is a $350 statement credit after spending $3,000 in the first six months of card membership.
American Express Blue Cash Everyday Card
Best for: No-fee cash back
If you want to maximize your cash-back rewards but don’t want to pay an annual fee, the American Express® Blue Cash Everyday card might do the trick for you. Cash-back rewards aren’t as high as with cards requiring an annual fee, but the card still offers a relatively high level of perks nonetheless.
The American Express® Blue Cash Everyday card rewards what are typically “everyday” purchases for most people: U.S. supermarkets, U.S. gas stations and U.S. online retail purchases. The cash back rate is 3% on those categories, up to $6,000 spent per year in each, then 1%. That’s about two to three times what a lot of annual fee cash-back cards pay.
You’ll also earn 1% cash back on all of your other purchases. There is a current Welcome Offer of a $200 statement credit after spending $2,000 within the first six months of card membership, which again is a pretty significant perk for a card that carries no annual fee.
New card holders are also rewarded with a 0% introductory purchase and balance transfer APR for the first 15 months, followed by a APR.
American Express Cash Magnet Credit Card
Best for: Flat rate for cash back
The simplest American Express cash-back credit card is also one of the best. The American Express® Cash Magnet credit card offers a flat 1.5% cash back on all purchases.
This straightforward rewards scheme means the card holders can use this card for any purchase without having to figure out whether or not they are maximizing their cash rewards. From grocery store purchases to hotel accommodations to everything in-between, you’ll earn 1.5% cash back when you use this card, and all for no annual fee.
Additional perks attached to this card include a 15-month, 0% introductory APR on purchases — followed by a APR — a $200 statement credit after spending $2,000 on the card within the first six months of card ownership and car rental loss and damage insurance.
USAA Federal Savings Bank Cashback Rewards Plus American Express Credit Card
Best for: Cash back for USAA members
USAA Members can enjoy some great cash back rewards by using the USAA Federal Savings Bank Cashback Rewards Plus American Express credit card.
Although all purchases earn at least 1% cash back, the card pays 2% on the first $3,000 in grocery purchases yearly and a whopping 5% cash back on the first $3,000 in combined gasoline and military base purchases per year.
The card also offers 0% APR for 15 months on balance transfers, after which the APR will be 14.15% to 28.15% APR — a competitive lower limit. There is no penalty APR. The card also offers convenience checks that post to your account within the first 90 days.
Additionally, the card has $0 annual fees and foreign transaction fees, making it a low-cost way for service members in the USAA to enjoy some significant cash back. The card also offers a host of helpful travel benefits, such as auto rental coverage, baggage delay and reimbursement, trip cancellation and interruption coverage and travel accident insurance. USAA customer service is also available 24/7.
Cynthia Measom contributed to the reporting for this article.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Sept. 2, 2022.
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