Best Cash Back Credit Cards Cash back credit cards are a great way to receive rewards on your daily spending. Whether you have constant needs for groceries, regularly hit the roads, or like to save money on every purchase, the correct cash-back card is a game-changer for your budget. As more credit card issuers compete in 2024, they tend to innovate, bringing cardholders a higher level of value than ever before.
In this blog, we will be talking about the top five cash back credit cards of 2024. We list what they offer, their perks, and for whom. Let’s help you choose the best card to get more from your rewards.
5 Best Cash Back Credit Cards
1. Chase Freedom Flex: Best For Bonus Categories
Key Features:
- 5 percent cash back on rotating quarterly categories (up to $1,500 in combined purchases per quarter).
- 5 percent cash back on travel booked through Chase Ultimate Rewards.
- 3% cash back at restaurants and drugstores.
- 1% cash back on everything else.
- No annual fee.
The Chase Freedom Flex features rotating 5% cash-back categories that are commonly applicable on daily necessities such as groceries, gas, and entertainment. If you are interested in the offerings, this card can boast huge rewards opportunities for savvy spenders.
Why It’s Great
- Bonus categories: Many everyday expenses earn high cash-back rates.
- Flexibility: The card also earns Chase Ultimate Rewards points, which can be redeemed for travel, gift cards, or even transferred to airline and hotel partners.
- Intro offer: $200 bonus after spending $500 in the first three months.
Best For:
This card is ideal for people who want flexibility and are willing to track and activate the rotating bonus categories.
2. Citi® Double Cash Card: Best for Simplicity
Main Features:
- 2% cash back on every purchase: 1% when you buy and 1% when you pay it off.
- No cap or restriction on earnings.
- No annual fee.
The Citi Double Cash Card is one of the best for simple folks. Here, with a flat-rate cash-back of 2% on all purchases, forget to get problems in bonus categories and redemption issues.
Why It’s Excellent:
- Flat rate award: irrespective of the dollar, you always get 2% return on each dollar.
- No Expiration Date: Rewards don’t expire, as long as the account remains open.
- Flexibility in redemption: Cash back can be redeemed in the form of a statement credit, check, or direct deposit.
Best For:
Anyone looking for a no-hassle card with a competitive flat cash-back rate.
3. Blue Cash Preferred® Card from American Express: Best for Groceries and Streaming
Key Features:
- 6% cash back at U.S. supermarkets (up to $6,000 annually; 1% thereafter).
- 6% cash back on select U.S. streaming services.
- 3% cash back at U.S. gas stations and transit expenses.
- 1% cash back on other purchases.
- $0 intro annual fee for the first year, then $95.
If groceries and streaming subscriptions take up a significant portion of your monthly budget, the Blue Cash Preferred® Card is hard to beat. With its impressive 6% cash-back rate on these categories, it delivers exceptional value.
Why It’s Great:
- Family-friendly: An excellent option for families with large grocery and streaming bills.
- Total transit benefits: Benefits both ride-sharing, parking, tolls, and public transportation.
- Signing up bonus: Earn $250 after spending $3,000 in the first six months.
Best For:
Families and video streamers looking for the highest cash back on their everyday spending.
4. Discover it Cash Back: Best for First-Year Value
Deals:
- 5% cash back on quarterly rotating categories (up to $1,500 in purchases per quarter).
- 1% cash back on all other purchases.
- Cashback Match™: Discover matches all the cash back you earn at the end of your first year.
- No annual fee.
The Discover it Cash Back card has the unique feature of providing a unlimited Cashback Match™ end. Essentially, this brings about a doubling of your earnings for the first year only, which is one of the key attractions for new users.
The Great Why It’s Great
- Generous first-year rewards: Boost your earnings with the Cashback Match™.
- No activation fee: Easy-to-use rotating categories like groceries, gas, and dining.
- Redemption flexibility: Redeem rewards as a statement credit or gift card, even as an Amazon checkout credit.
Best For:
First-time cardholders or those who want a lucrative first-year rewards boost.
5. Wells Fargo Active Cash Card: Best for Unlimited Flat Cash Back
Key Features:
- 2% unlimited cash back on all purchases with no annual fee.
- $200 bonus after spending $500 in the first three months.
- 0% intro APR for 15 months on purchases and qualifying balance transfers.
The Wells Fargo Active Cash® Card combines simplicity with robust rewards, offering a flat 2% cash-back rate with no categories, limits, or annual fees. It also includes a generous 0% APR period, making it an excellent choice for those planning big purchases.
Why It’s Great:
- Uncomplicated rewards: 2% cash back with no limit.
- More benefits: Access to the Wells Fargo Deals program, which includes special deals.
- Intro APR: A lengthy 0% introductory APR can be helpful for big purchases or consolidating debt.
Best For:
Those who want plain cash-backs with a high flat rate and those seeking to buy interest-free for a little while.
How to Choose the Best Cash Back Card for You
Choosing the ideal cash-back card will depend on your spending habits, lifestyle, or financial goals. Here are some factors to consider.
- Assess Your Spending
Do you spend much on groceries or dining out? You may want a category-specific card, such as the Blue Cash Preferred or Chase Freedom Flex.
Do you like things simple? Then, go for a flat-rate card such as Citi Double Cash or Wells Fargo Active Cash. - Introductory Offers and Yearly First-Year Bonuses
Credit cards such as Discover it® Cash Back and Chase Freedom Flex offer a generous sign-up bonus that can accumulate more cash back. - Be Aware of Fees
Some of the cards on this list have no annual fees. Some, such as the Blue Cash Preferred Card, don’t until after the first year. Consider whether what you earn in rewards is worth the fee you will pay each year. - Flexibility in Rewards Redemption
Consider flexibility in redeeming cash: whether statement credits, gift cards, or direct deposit.
Final Thoughts
With the best cash-back credit cards of 2024, you can cash in on what matters most to you: simplicity, bonus categories, and first-year rewards. Choose the card most aligned with your spending and make cash back savings throughout the year big and bountiful.
Quick Comparison Table
| Card Name | Rewards Structure | Annual Fee | Best For |
|---|---|---|---|
| Chase Freedom Flex® | Up to 5% on rotating categories | $0 | Bonus categories enthusiasts |
| Citi® Double Cash Card | 2% flat cash back | $0 | Simplicity lovers |
| Blue Cash Preferred® Card | 6% on groceries/streaming services | $95 (after 1st year) | Families and frequent streamers |
| Discover it® Cash Back | 5% on rotating categories + Match™ | $0 | First-year value seekers |
| Wells Fargo Active Cash® | 2% flat cash back | $0 | Unlimited cash-back fans |
By understanding your priorities and reviewing the features of each card, you can pick the perfect option to help you save more and spend smarter. Which card will you choose to start earning more cash back in 2024? Share your thoughts in the comments below!
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Braj Verma is a resident of Rajgarh in Madhya Pradesh and is a content writer and freelancer by profession. He has a degree in Political Science from Barkatullah University, Bhopal. He has expertise in subjects like credit cards, banking, loan, insurance, political analysis and digital marketing.