Best Cash Back Credit Cards 2023 | Over 5% Cash Back

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The Platinum Card® from American Express card is annual fee waived for military.

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The best cash back credit cards for active duty US military servicemembers can put up to 6% back in your bank account. Cash back cards are great if you do not travel frequently or you just want to be rewarded for your everyday purchases.

Cash back cards offer the simplicity of just getting cold hard cash for your normal spending. Some of them offer extra cash back bonuses in specific categories like gas stations, groceries, supermarkets, or pharmacies.

The AAFES or NEX gas stations on base or post qualify for the gas category. The Commissary rings up as a supermarket (usually) and the Shoppette usually qualifies as a gas purchase.

All the cards listed below also have a welcome bonus, which you will receive after spending the minimum amount required in the time required. These are often low threshold minimums ($500-$1000) with plenty of time to meet the spend.

Blue Cash Preferred® Card from American Express

New AMEX Blue Cash Preferred NO ANNUAL FEE FOR MILITARY

Blue Cash Preferred® Card from American Express
Learn how to apply on our partner's secure site

  • $0 intro annual fee for the first year, then $95 but waived for military + spouses with Military Lending Act
  • Earn a $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.
  • 6% cash back on US supermarkets on up to $6,000 per year (then 1%), including most OCONUS Commissaries
  • 6% cash back on select US streaming services, including Apple Music, Netflix, Pandora, Spotify, Amazon Prime Video (full list here)
  • 3% cash back on transit like taxis, Uber, Lyft, parking, tolls, trains, buses, etc
  • 3% cash back on US gas stations (including OCONUS NEX or AAFES)
  • 1% back on other eligible purchases, terms apply
  • Get $7 back each month after using your Blue Cash Preferred Card to spend $12.99 or more each month on an eligible subscription to The Disney Bundle, which includes Disney+, Hulu, and ESPN+. Enrollment required.
  • Terms Apply

The American Express Blue Cash Preferred is my #1 recommended cash back card for military.

The 6% cash back at US supermarkets, including the DECA Commissary on base/post, is the best cash back offer available on any category. This cash back works overseas on US military bases, as Commissary transactions process like you are in the States.

Amex Blue Cash Preferred also offers 6% cash back on many US streaming services, including:

Amazon Music, Apple Music, Audible, CBS All Access, Direct TV Now, ESPN+, Fubo TV, HBO Now, Hulu, iHeartRadio, Kindle Unlimited, MLB.TV, NBA League Pass, Netflix, NHL.TV, Pandora, Amazon Prime Video Unlimited, Showtime, Sling TV, SiriusXM Streaming and Satellite, Spotify, YouTube Music Premium, YouTube Premium, YouTube TV

A 3% category has also been added for transit including taxi/rideshares (like Uber and Lyft), parking, tolls, trains, and buses.

The 3% cash back on US gas stations also works on OCONUS and CONUS bases, at the NEX and AAFES gas stations.

The Blue Cash Preferred is an excellent choice for military servicemembers, especially since the $95 annual fee is waived. Read the full Amex Blue Cash Preferred military review.

Blue Cash Everyday® Card from American Express

amex blue cash everyday military
  • Learn how to apply for the Blue Cash Everyday® Card from American Express
  • Earn a $200 statement credit after you spend $2,000 in purchases on your new Card within the first 6 months.
  • No Annual Fee.
  • 3% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases, then 1% after that.
  • 3% Cash Back on U.S. online retail purchases, on up to $6,000 per year, then 1% after
  • 3% Cash Back at U.S. gas stations, on up to $6,000 per year in purchases, then 1%.
  • Get $7 back each month after using your Blue Cash Everyday Card to spend $12.99 or more each month on an eligible subscription to The Disney Bundle, which includes Disney+, Hulu, and ESPN+. Enrollment required.
  • Terms Apply
  • Compare to the Blue Cash Preferred® Card from American Express with an annual fee waiver for military and 6% cash back at US supermarkets up to $6,000 per year

Chase Freedom Unlimited® Credit Card

Chase Freedom Unlimited for Military
  • Learn how to apply for the Chase Freedom Unlimited® Credit Card
  • Intro offer: earn an additional 1.5% on everything you buy up to $20,000 in the first year – worth $300 cash back!
  • 6.5% cash back on travel purchased through the Chase Ultimate Rewards portal
  • 4.5% on dining at restaurants, takeout, and delivery
  • 4.5% back on drugstore purchases
  • 3% on all other purchases
  • After your first year or $20,000 spent, enjoy 5% cash back on Chase travel purchased through Ultimate Rewards(R), 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
  • No annual fee
  • Compare the Chase Freedom Unlimited vs Chase Freedom Flex

The Chase Freedom Unlimited is my go to card when I’m CONUS.

The cash back is earned as Chase Ultimate Reward Points. You can transfer them to your Chase Sapphire Reserve to maximize the value of the points and get more than 1 cent per point.

The card offers 5% back on travel bought through the Chase Ultimate Rewards portal, 3% back on dining and drugstores, 1.5% cash back on all other purchases, and no annual fee. Great to use for online purchases or anything other than travel and dining which you should get 3% back on with your Sapphire Reserve.

This is my default card when I’m back in the States. If you can get 5% back on rotating categories like gas or groceries with the Chase Freedom Flex℠ card above do that. Otherwise use this card to get 1.5% cash back on every purchase. Compare the Freedom Flex vs the Freedom Unlimited in this article.

Chase Freedom Flex℠ Credit Card

Chase Freedom Flex Military

Chase Freedom Flex Credit Card
Learn how to apply on our partner's secure site

  • Earn $200 cash back (20,000 Ultimate Reward points) when you spend $500 in 3 months
  • 5% cash back on travel purchased through the Chase Ultimate Rewards portal
  • 3% on dining at restaurants, takeout, and delivery
  • 3% back on drugstore purchases
  • 1% back on all other purchases
  • 5% on up to $1500 of purchases in specific bonus categories each quarter
  • No annual fee
  • Compare the Chase Freedom Flex vs. Chase Freedom Unlimited

The Chase Freedom Flex card offers 5% back on rotating categories and no annual fee. It also has great points earning on travel purchased through the Chase Ultimate Rewards portal, 3% on dining and drugstores, and 1% on everything else.

The welcome bonus is paid in Ultimate Reward points worth 50% more if you transfer them to your Chase Sapphire Reserve with no annual fee for military.

I have had this card since I joined the military over a decade ago. I keep it open to age my credit history with no annual fee.

Gasoline is usually one of the categories for half the year, making this a great card to use to fill the car up. I usually put whatever the 5% category is on the Chase Freedom Flex, then travel and dining on my Chase Sapphire Reserve, and then everything else on my Chase Freedom Unlimited.

Citi® Double Cash Card

Citi® Double Cash Card for military

The Citi® Double Cash Card offers 2% cash back on all purchases: 1% when you make the purchase and 1% when you pay off the purchase.

American Express Cash Magnet Card

best amex cash back card for military
  • Learn how to apply for the American Express Cash Magnet® Card
  • Earn $200 Back after you spend $2,000 in purchases on your new Card within the first 6 months of Card Membership. You will receive the $200 back in the form of a statement credit.†
  • 1.5% cash back unlimited
  • No annual fee
  • *All information about American Express Cash Magnet® Card has been collected independently by MilitaryMoneyManual.com

Capital One Quicksilver Cash Rewards Credit Card

best cash back credit cards for military
  • Learn how to apply for the Capital One Quicksilver Cash Rewards Credit Card
  • $200 Cash Back after you spend $500 on purchases within 3 months from account opening
  • 1.5% cash back on all purchases including gas, BX, PX, AAFES, and Shoppette
  • No limit to how much you can earn, points never expire, no rotating categories
  • No annual fee
  • No foreign transaction fees (rare for no annual fee cards)

Cash back cards offer US military members an easy way to earn cash for the day to day spending of life.

My first credit card was a cash back American Express. A cash back card is a great way to start building your credit history so you can qualify for the best military credit cards, like the AMEX Platinum (read my full American Express military Platinum review). Or check out my full list of credit cards that waive annual fees for military.

Are you are more of the travelling type? Does the idea of flying business class to New Zealand and Australia for New Year's Eve sound like a dream vacation? Then check out my step by step guide of no annual fee luxury travel cards for military servicemembers. Or sign up for my complete beginner's course for military credit cards, the Ultimate Military Credit Cards Course.

Cash Back Credit Cards for Military FAQ

Are cash back credit cards good?

Yes, cash back credit cards can be great if you want to earn cash back on all your purchases and bonus cash back on certain categories, like groceries or gas. However, you can earn even more value from your spending by earning flexible credit card points and transferring them to airlines for almost free flights, hotels for free nights, and other partners for vacation or travel experiences.

What credit card gives 2% cash back?

The Citi Double Cash card gives 2% cash back. 1% when you make the purchase and 1% when you pay the bill.

What are the best cash back credit cards in 2020?

The Citi Double Cash card, Amex Blue Cash Preferred, Chase Freedom Flex, and Chase Freedom Unlimited are my top recommended cash back credit cards in 2020.

Is cash back better than points?

If you want to just earn cash, cash back can be better than points. However, if you like travelling, vacationing, or flying to another state to see family, you will probably get more bang for your buck with credit cards points.

6 thoughts on “Best Cash Back Credit Cards 2023 | Over 5% Cash Back”

  1. Hi Spencer,

    Any thoughts on the Amazon Prime Visa from Chase as part of your strategy? They give 5% cash back on Amazon and Whole Foods purchases.

    Reply
    • Yes, the Amazon Prime Visa is fine. But prioritizing welcome bonuses can be much more lucrative. For example, if you spend $4,000 on travel on a Chase Sapphire Reserve, earn 60,000 welcome bonus points plus 3x points for the $4,000 of travel (12,000 points), and transfer the 72,000 points you earned to Hyatt for a 3 cent per point valuation, now those points are worth $2,160, meaning you just earned an effective 54% cash back. Check out episode 70 of the podcast where we talk about this.

      Reply
  2. I called Capitol One Savor card military hotline and they informed me that I would be charged the $95 fee each year. Is this just an error or should I call and try again? I just wanted somewhere in writing saying it will be free before making the leap.

    Reply
    • I’m not sure, I don’t have personal data points. Let me do some research and I will get back to you! The annual fee is waived for the first year anyways for everyone. So, if you are considering getting this card, why don’t you get it, see if they apply any SCRA benefits, and report back for all of us? Thanks!

      Reply

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