Which 1.5 percent cash back card is right for you?

Which 1.5 percent cash back card is right for you?

The editorial content below is based solely on the objective assessment of our writers and is not driven by advertising dollars. However, we do receive compensation when you click on links to products from our partners. Learn more about our advertising policy

The content on this page is accurate as of the posting date. Please review our list of best credit cards, or use our CardMatch tool to find cards matched to your needs.

If you prefer to be rewarded for your spending with cash or statement credits instead of points or miles, a cash back rewards credit card is the way to go. There are a large variety of cards that offer cash back bonuses on specific purchases, such as dining and gas. But

for those who want to earn cash back on every purchase without the hassle of dealing with rotating categories or complicated rewards structures, a flat-rate credit card is a great option.

With the recent launch of the Cash Magnet card from American Express, there are now several credit cards on the market that offer 1.5 percent cash back on every purchase.

Comparing 1.5 percent cash back cards

Once you narrow down that a flat-rate, 1.5 percent cash back card is the right fit for you, there are a variety of other factors you need to consider. For example, at first glance, the Cash Magnet card may appear to be the best choice – since it offers the highest yearly rewards value and the highest sign-up bonus among these cards. However, the card’s $7,500 spend threshold required to receive the entire $250 bonus may not be in your budget.

See what else we found when comparing these cards:

  Introductory bonus Annual fee Average yearly earnings ($15,900 spend)
American Express Cash MagnetSM
  • $150 if you spend $1,000 in the first 3 months
  • Additional $100 if you spend an extra $6,500 in the first 12 months
  • Terms apply
$0 $321
Wells Fargo Cash Wise Visa
  • $200 if you spend $1,000 in the first 3 months
  • 1.8% cash back on Android Pay and Apple Pay purchases for the first 12 months
$0 $307
Chase Freedom Unlimited
  • $150 if you spend $500 in the first 3 months
$0 $296
Capital One Quicksilver Cash Rewards $150 if you spend $500 in the first 3 months $0 $288
U.S. Bank Cash 365 American Express $150 if you spend $500 in the first 90 days $0 $288
Navy Federal Credit Union Cash Rewards
  • $100 if you spend $500 in the first 90 days
  • Offer ends Sept. 5, 2018
$0 $272
Ultimate Cash Bank card from Santander Bank $100 if you spend $500 in the first 90 days $0 $271
M&T Visa Signature $100 if you spend $500 in the first 90 days $0 $271
First National Bank of American Express $100 if you spend $500 in the first 90 days $0 $271
USAA Preferred Cash Rewards Visa Signature None $0 $238
Capital One® QuicksilverOne® Cash Rewards None $39 $212

As you can see, typically, cards that offer 1.5 percent cash back also don’t charge annual fees – aside from the Capital One QuicksilverOne Cash Rewards card.

Which card is best?

It depends on what you’re looking for in a card. For example, if you’re interested in earning a sign-up bonus, the USAA Cash Rewards Visa Signature and Capital One QuicksilverOne cards are not the right fit for you. Here are some other factors you should consider:

You want to earn the highest yearly rewards value

If you’re interested in earning the highest yearly rewards value from a 1.5 percent cash back card, the Cash Magnet card is your best bet. By our estimates, the average consumer who spends approximately $15,900 each year on gas, food, clothing and general purchases, can earn approximately $321 worth of rewards annually with the Cash Magnet card.

You plan to carry a balance on your card

If you want to purchase a big-ticket item and pay it off over time, or you just plan to carry a balance on your card (though we recommend that you pay off your balance in full each month), the Capital One Quicksilver Cash Rewards, Cash Magnet and Chase Freedom Unlimited cards offer the longest interest-free introductory periods on purchases among these cards.

With the Quicksilver card, you won’t be responsible for paying interest on purchases for the first 15 months. Once the introductory period is up, the variable APR on purchases is 14.74 to 24.74 percent. The Cash Magnet card offers a 0 percent intro APR on purchases for 15 months as well, followed by a variable APR of 14.74 to 25.74 percent. The Chase Freedom card also offers a 0 percent introductory APR on purchases for 15 months, with a regular variable APR of 16.74 to 25.49 percent.

You plan to transfer a balance

If you have a substantial amount of credit card debt, you may be looking for a card that lets you transfer your balance without charging you interest. The Quicksilver Cash Rewards card, the Cash Magnet card and the Freedom Unlimited card each offers a generous, interest-free period of 15 months for balance transfers. Once the introductory periods are over, the variable APRs are 14.74 to 24.74 percent for the Quicksilver card, 14.74 to 25.74 percent for the Cash Magnet and 16.74 to 25.49 percent for the Freedom Unlimited.

You don’t want to spend a large sum of money up front

If you don’t want to spend a lot of money up front, in addition to looking for a card that doesn’t charge an annual fee, you should be on the lookout for a card that doesn’t require a large spend threshold to receive the sign-up bonus. Among the cards listed in the table, the Freedom Unlimited, the Quicksilver Cash Rewards and the U.S. Bank Cash 365 American Express cards require the lowest spend thresholds to earn a $150 sign-up bonus. The Freedom Unlimited and Quicksilver cards both offer $150 after spending $500 in the first three months of card membership, while the Cash 365 card offers $150 after $500 spend in the first 90 days.

How about a 2 percent cash back card instead?

We would also note that there are a few flat-rate cards that offer a higher rate than 1.5 percent cash back. For instance, the Citi Double Cash card offers up to 2 percent cash back – 1 percent when you make a purchase and another 1 percent when you pay your bill on time. It doesn’t include a sign-up bonus, so it’s less valuable in the short term, but if you are looking for a great cash back card for the long haul, the Citi Double Cash card could be your best bet.

See related: AmEx Cash Magnet card offers a $250 bonus and 1.5 percent back on every purchase, Wells Fargo boosts the sign-up bonus for the Cash Wise Visa to $200 


Join the discussion
We encourage an active and insightful conversation among our users. Please help us keep our community civil and respectful. For your safety, do not disclose confidential or personal information such as bank account numbers or social security numbers. Anything you post may be disclosed, published, transmitted or reused.

If you are commenting using a Facebook account, your profile information may be displayed with your comment depending on your privacy settings. By leaving the 'Post to Facebook' box selected, your comment will be published to your Facebook profile in addition to the space below.

The editorial content on CreditCards.com is not sponsored by any bank or credit card issuer. The journalists in the editorial department are separate from the company's business operations. The comments posted below are not provided, reviewed or approved by any company mentioned in our editorial content. Additionally, any companies mentioned in the content do not assume responsibility to ensure that all posts and/or questions are answered.




Weekly newsletter
Get the latest news, advice, articles and tips delivered to your inbox. It's FREE.


Updated: 09-22-2018