An Unheralded Yet Lucrative Cash Back Card Bankrate Caret RightMain Menu Mortgage Mortgages Financing a home purchase Refinancing your existing loan Finding the right lender Additional Resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Bank Banking Compare Accounts Use calculators Get advice Bank reviews Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Credit Card Credit cards Compare by category Compare by credit needed Compare by issuer Get advice Looking for the perfect credit card? Narrow your search with CardMatch Caret RightMain Menu Loan Loans Personal Loans Student Loans Auto Loans Loan calculators Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Invest Investing Best of Brokerages and robo-advisors Learn the basics Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Home Equity Home equity Get the best rates Lender reviews Use calculators Knowledge base Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Loan Home Improvement Real estate Selling a home Buying a home Finding the right agent Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Insurance Insurance Car insurance Homeowners insurance Other insurance Company reviews Elevate your Bankrate experience Get insider access to our best financial tools and content Caret RightMain Menu Retirement Retirement Retirement plans & accounts Learn the basics Retirement calculators Additional resources Elevate your Bankrate experience Get insider access to our best financial tools and content Advertiser Disclosure
Advertiser Disclosure
We are an independent, advertising-supported comparison service. Our goal is to help you make smarter financial decisions by providing you with interactive tools and financial calculators, publishing original and objective content, by enabling you to conduct research and compare information for free - so that you can make financial decisions with confidence.
Bankrate has partnerships with issuers including, but not limited to, American Express, Bank of America, Capital One, Chase, Citi and Discover. SHARE: On This Page
Grace Cary/Getty Images May 13, 2022 Checkmark Bankrate logo How is this page expert verified? At Bankrate, we take the accuracy of our content seriously. "Expert verified" means that our Financial Review Board thoroughly evaluated the article for accuracy and clarity. The Review Board comprises a panel of financial experts whose objective is to ensure that our content is always objective and balanced. Their reviews hold us accountable for publishing high-quality and trustworthy content. Ted Rossman is a senior industry analyst at Bankrate.com. He focuses on the credit card industry and helps consumers maximize rewards, get out of debt and improve their credit scores. Mariah Ackary is a personal finance editor who joined the Bankrate team in 2019, excited by the opportunity to help people make good financial decisions. Send your questions to Cathleen's stories on design, travel and business have appeared in dozens of publications including the Washington Post, Town & Country, Wall Street Journal, Marie Claire, Fodor’s Travel, Departures and The Writer. Bankrate logo The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict editorial integrity, this post may contain references to products from our partners. Here's an explanation for how we make money. The content on this page is accurate as of the posting date; however, some of the offers mentioned may have expired. Terms apply to the offers listed on this page. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone, and have not been reviewed, approved or otherwise endorsed by any card issuer. Bankrate logo The Bankrate promise
At Bankrate, we have a mission to demystify the credit cards industry — regardless or where you are in your journey — and make it one you can navigate with confidence. Our team is full of a diverse range of experts from credit card pros to data analysts and, most importantly, people who shop for credit cards just like you. With this combination of expertise and perspectives, we keep close tabs on the credit card industry year-round to: Meet you wherever you are in your credit card journey to guide your information search and help you understand your options. Consistently provide up-to-date, reliable market information so you're well-equipped to make confident decisions. Reduce industry jargon so you get the clearest form of information possible, so you can make the right decision for you. At Bankrate, we focus on the points consumers care about most: rewards, welcome offers and bonuses, APR, and overall customer experience. Any issuers discussed on our site are vetted based on the value they provide to consumers at each of these levels. At each step of the way, we fact-check ourselves to prioritize accuracy so we can continue to be here for your every next. Bankrate logo Editorial integrity
Bankrate follows a strict , so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. Key Principles
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers. Editorial Independence
Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information. Bankrate logo How we make money
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey. Bankrate follows a strict , so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers. We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money. Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service. The is offering an elevated welcome bonus through Jan. 28, 2023: a $75 statement credit for every $500 spent in a cardholder’s first 90 days. The promotion is capped at $225 in statement credits, which would require spending $1,500. This is an attractive deal. Typically, $200 represents a strong introductory bonus for a no annual fee . For example, that’s the current offer from the Wells Fargo Active Cash Card, the U.S. Bank Cash+ Visa Signature Card, the Capital One Quicksilver Cash Rewards Credit Card, the Citi Custom Cash℠ Card, the Bank of America Customized Cash Rewards credit card and the Blue Cash Everyday Card from American Express. Note that almost all of those cards have lower spending thresholds: $1,000 in three months on the ($200 cash rewards), $1,000 in 120 days on the , $500 in three months on the , $1,500 in six months on the , $1,000 in 90 days on the Still, $225 in exchange for spending $1,500 in 90 days on the Shop Your Way Mastercard is enticing. That’s a 15 percent return right off the bat, not even including the card’s standard rewards categories. And those are intriguing as well. Ongoing rewards
Shop Your Way cardholders get 5 percent back (in points) on eligible purchases at gas stations and 3 percent back (in points) on eligible purchases at grocery stores and restaurants. There’s a combined spending limit of $10,000 per year on these three bonus rewards categories. Cardholders get an unlimited 2 percent back (in points) on eligible purchases at Shop Your Way merchants (such as Sears, Kmart, Sears Hometown Stores and Sears Home Services). The earn rate on all other purchases is 1 percent (also in points). These points essentially represent cash back that can be redeemed for gift cards or Sears purchases. There are hundreds of gift card options, including Applebee’s, Banana Republic, CVS, Hotels.com, Lowe’s, Pottery Barn, Uber and many, many other retailers. Two exceptions are rewards earned via Sears and Kmart purchases; those need to be redeemed on future purchases with those brands. The $10,000 cap on bonus gas, grocery and restaurant rewards is generous. According to the latest data from the , the average American household spends $1,568 per year on gas, $4,942 on groceries and $2,375 at restaurants. That’s a grand total of $8,885. With a 5 percent (in points) rewards rate, the Shop Your Way Mastercard is one of the . That’s especially important with gas prices currently at record highs. And it’s rare to get 3 percent cash back on groceries and dining purchases on the same card. These are popular categories that are also experiencing rapid inflation. Other prominent alternatives
The Chase Freedom Unlimited and Chase Freedom Flex℠ cards are worthy competitors because they each give a $200 bonus after new cardholders spend $500 in their first three months, plus they give 5 percent cash back on up to $6,000 in gas purchases during each new cardholder’s first year. Note that this welcome offer is only available to those who apply directly through Chase. The Freedom Unlimited’s standard rewards are 5 percent cash back on travel purchased through Chase Ultimate Rewards, 3 percent cash back at restaurants and drugstores and 1.5 percent cash back on everything else. The Freedom Flex has the same travel, restaurant and drugstore categories plus rotating quarterly categories that earn 5 percent cash back. Activation is required, and that rate applies to up to $1,500 in quarterly spending. Cardholders earn 1 percent cash back after that and on all other purchases. Those are two of my favorite cash back cards, but the Shop Your Way Mastercard is also a sneaky contender. Its 5 percent earn rate on gas extends beyond the first year, plus 3 percent cash back at grocery stores is a sweet deal. These cards could actually complement each other quite nicely. The bottom line
The Shop Your Way Mastercard flies under the radar, probably largely because of its affiliation with a couple of retail brands that have been struggling for years, but it’s much more than a store credit card. It’s actually a very solid and versatile cash back card. Have a question about credit cards? E-mail me at and I’d be happy to help. SHARE: Ted Rossman is a senior industry analyst at Bankrate.com. He focuses on the credit card industry and helps consumers maximize rewards, get out of debt and improve their credit scores. Mariah Ackary is a personal finance editor who joined the Bankrate team in 2019, excited by the opportunity to help people make good financial decisions. Send your questions to Cathleen's stories on design, travel and business have appeared in dozens of publications including the Washington Post, Town & Country, Wall Street Journal, Marie Claire, Fodor’s Travel, Departures and The Writer. Related Articles