In 2024, cash back credit cards remain a popular choice among consumers in the United States, offering rewards on everyday purchases. These cards provide an excellent way to earn money back on spending, making them appealing for both casual and frequent shoppers. Here’s a detailed look at some of the best cash back credit cards available this year.
Top Cash Back Credit Cards for 2024
- Wells Fargo Active Cash® Card
- Cash Back Rate: Unlimited 2% cash rewards on purchases.
- Sign-Up Bonus: Earn a $200 cash rewards bonus after spending $500 in the first 3 months.
- Annual Fee: $0.
- Best For: Flat-rate cash back without the hassle of rotating categories.
- Chase Freedom Unlimited®
- Cash Back Rate:
- 5% on travel purchased through Chase.
- 3% at restaurants and drugstores.
- 1.5% on all other purchases.
- Sign-Up Bonus: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year), potentially worth up to $300 cash back.
- Annual Fee: $0.
- Best For: All-around cash back with strong bonus categories.
- Cash Back Rate:
- Discover it® Cash Back
- Cash Back Rate: 5% in rotating categories each quarter (activation required) and 1% on all other purchases.
- Sign-Up Bonus: Discover matches all cash back earned in the first year for new cardholders.
- Annual Fee: $0.
- Best For: Those who can maximize rotating categories for higher rewards.
- Capital One Savor Cash Rewards Credit Card
- Cash Back Rate:
- 8% on Capital One Entertainment purchases.
- 5% on hotels and rental cars booked through Capital One Travel.
- 3% at grocery stores and dining.
- 1% on all other purchases.
- Sign-Up Bonus: Earn a $250 cash bonus after spending $500 in the first 3 months.
- Annual Fee: $0.
- Best For: Dining and entertainment enthusiasts.
- Cash Back Rate:
- Citi Double Cash® Card
- Cash Back Rate: Earn 1% cash back on purchases and an additional 1% when you pay for those purchases, effectively yielding up to 2%.
- Sign-Up Bonus: Earn $200 in cash back after spending $1,500 in the first 6 months.
- Annual Fee: $0.
- Best For: Simplicity with high rewards for paying off balances.
- Blue Cash Preferred® Card from American Express
- Cash Back Rate:
- 6% at U.S. supermarkets (up to $6,000 per year).
- 6% on select U.S. streaming subscriptions.
- 3% at U.S. gas stations and transit.
- 1% on other purchases.
- Sign-Up Bonus: Earn a $250 statement credit after spending $3,000 in the first 6 months.
- Annual Fee: $0 intro fee for the first year, then $95.
- Best For: Families and households that spend heavily on groceries and streaming services.
- Cash Back Rate:
- Bank of America® Unlimited Cash Rewards Credit Card
- Cash Back Rate: Unlimited 1.5% cash back on all purchases.
- Sign-Up Bonus: Earn a $200 online cash rewards bonus after making at least $1,000 in purchases in the first 90 days.
- Annual Fee: $0.
- Best For: Simplicity with consistent rewards across all spending.
Conclusion
Choosing the right cash back credit card depends on your spending habits and preferences. Whether you prefer a flat-rate card like the Wells Fargo Active Cash® or one that offers higher rewards in specific categories like the Blue Cash Preferred® Card from American Express, there are options available to suit various lifestyles. Always consider factors such as annual fees, sign-up bonuses, and reward structures to find the card that maximizes your benefits in 2024.