There are many types of credit card reward programs, but over the past few years consumers have increasingly been turning to good ol' cash back. The reasons for this trend are somewhat obvious. First of all, airline miles (which used to be the most popular) are being watered down in value and becoming more difficult to use, given the blackout dates and other restrictions that come with them. Cards that let you redeem points for merchandise are falling out of favor for similar reasons; they're confusing and the actual value you get per point is questionable. Contrast those to cash back credit cards, which are more transparent and easier to use. But with increasing popularity, comes an increasing number of options. There are literally hundreds upon hundreds of cash back programs to choose from. So which are the highest cash back credit cards on the market today? Here are the top five recommendations.

1. Fidelity Investment Rewards (American Express) This card comes with a catch, but it's definitely worth it. The catch is that you need to have a Fidelity account in order to apply. But even if you don't want a brokerage account, you can open a Fidelity Cash Management account which is basically an online bank account. There's no minimum to open it and no monthly maintenance fees. After you have an account with them, you can apply for the Fidelity Investment Rewards American Express. This is by far the best cash back card on the market for non-category spending, because it gives you an unlimited 2% on everything you buy. With no annual fee, it's a card that makes sense for everyone.

2. Chase Freedom (Visa or MasterCard) Unlike the card above, the Chase Freedom is heavily advertised so you're probably familiar with it. If not, you should check it out because it gives 5% cash back on participating categories and 1% on everything else. There's no annual fee. There are a few caveats to be aware of though. For starters, you need to signup each quarter in order to earn 5% on the categories. Obviously, they structure it this way in hopes that some people forget (don't be one of them). The other caveat is that only $1,500 in category spending per quarter will qualify for the 5%. For example, during the 2nd quarter of 2013 the categories are restaurants and movie theaters. That means you can only earn 5% on the first $1,500 of combined spending within those categories.

3. Blue Cash Preferred (American Express) If you don't want to hassle with categories that change every quarter, then consider the American Express Blue Cash Preferred. It gives you 6% cash back on the first $6,000 spent annually at all stand-alone supermarkets in the US. An unlimited 3% at stand-alone gas stations and select major department stores in the US. Purchases elsewhere earn a flat 1%. There is a drawback with this card and that is the $75 annual fee. But since AmEx waives the fee for the first year, you will have plenty of time to take it for a test drive and decide if it's worth keeping. However with today's high gas prices and the crazy price of groceries, it will probably make sense to keep for the long haul.

4. PenFed Platinum Cash Rewards (Visa) This card makes the top 5 for one reason only; it pays an unlimited 5% cash back at every gas station, as long as you pay at the pump. However on all other purchases it only pays one-quarter of a percent, which means you should only be using this card to buy gas and nothing else. In order to apply, you will have to join Pentagon Federal Credit Union. You can join for free if you or your spouse works for an eligible branch of the military or government. Even if don't, you can still join by simply paying a one-time $15 donation to one of their military charities. Since the card doesn't have an annual fee, that's a small price to pay for the ability of earning 5% on all your fuel.

5. Discover It card (Discover) This is a newer card which was launched back in the summer of 2012. If you're familiar with its predecessor (the Discover More) the It card is similar, but marks a significant improvement because you now earn a full 1% on all non-category spending. On the categories, you earn 5% when you enroll each quarter and there is a rewards ceiling comparable to what's found on Chase Freedom. That may all sound good, but you really have to dig deeper to find out why this cash back credit card is so great. It gives 5-20% cash back at nearly 200 online retailers, including the websites of Walmart, Apple, and Macys. Lastly, all of the cash back you earn can actually be increased in value, if you redeem it for gift cards. For example, you can covert $45 of cash back into a $50 Starbucks gift card. The only reason this card is at the bottom of the list is because the Discover brand isn't as widely accepted.