Cashback credit cards offer a simple way to earn rewards on everyday spending, providing cash back on every purchase or targeted rewards for specific categories. In 2024, credit card issuers are offering competitive options for consumers looking to maximize their rewards with minimal hassle. This guide will explore the best cashback credit cards available, comparing features such as cashback rates, annual fees, bonus categories, and additional benefits to help you choose the best card for your financial goals.
1. Chase Freedom Flex℠
The Chase Freedom Flex℠ card is one of the most popular cashback cards due to its rotating bonus categories and competitive cash back rates.
- Cashback Rate: 5% on rotating quarterly categories (up to $1,500 in combined purchases), 3% on dining and drugstores, and 1% on all other purchases.
- Annual Fee: $0
- Bonus: $200 bonus after spending $500 in the first three months.
- Additional Perks: Benefits like cell phone protection and access to Chase’s travel portal with enhanced points for travel redemptions.
The Chase Freedom Flex℠ is ideal for those who enjoy rotating bonus categories and can adapt their spending to maximize rewards. The $0 annual fee makes it a low-risk card with a high reward potential.
2. Citi® Double Cash Card
For simplicity and high everyday rewards, the Citi® Double Cash Card is one of the best choices, with a straightforward cash back structure.
- Cashback Rate: Earn 2% back on every purchase—1% when you buy and an additional 1% when you pay off those purchases.
- Annual Fee: $0
- Bonus: No sign-up bonus, but consistent cash back makes it a strong choice for regular spenders.
- Additional Perks: No categories or spending caps, making it easy for those who want to avoid category tracking.
The Citi® Double Cash Card is perfect for people who want a no-fuss cash back system that provides a steady return on all purchases, without restrictions or limitations.
3. Blue Cash Preferred® Card from American Express
The Blue Cash Preferred® Card is excellent for consumers who spend a lot on groceries and streaming services, with significant cash back in these categories.
- Cashback Rate: 6% at U.S. supermarkets (up to $6,000 per year, then 1%), 6% on select U.S. streaming services, 3% on transit and U.S. gas stations, and 1% on other purchases.
- Annual Fee: $95 (waived for the first year)
- Bonus: $250 statement credit after spending $3,000 in the first six months.
- Additional Perks: Benefits on eligible purchases, like purchase protection and return protection.
With high cash back on everyday spending categories like groceries and streaming, the Blue Cash Preferred® Card is ideal for families and regular commuters who want to maximize rewards in these areas.
4. Wells Fargo Active Cash℠ Card
The Wells Fargo Active Cash℠ Card is a strong contender for flat-rate rewards with a high cash back rate and additional perks.
- Cashback Rate: 2% unlimited cash rewards on all purchases.
- Annual Fee: $0
- Bonus: $200 cash rewards bonus after spending $500 in purchases in the first three months.
- Additional Perks: Cell phone protection when you pay your monthly bill with the card, along with Visa Signature benefits.
This card is ideal for those looking for a straightforward 2% cashback card without the need to track categories or bonus caps.
5. Discover it® Cash Back
The Discover it® Cash Back card is unique in offering a first-year cashback match, making it highly valuable for new cardholders.
- Cashback Rate: 5% on quarterly rotating categories (up to $1,500 in purchases per quarter, activation required), and 1% on all other purchases.
- Annual Fee: $0
- Bonus: Dollar-for-dollar match of all cash back earned at the end of the first year.
- Additional Perks: Access to Discover’s FICO score, no foreign transaction fees.
For those willing to activate and track quarterly categories, the Discover it® Cash Back is a great option, especially with the first-year Cashback Match program, which can double your first-year rewards.
6. Capital One SavorOne Cash Rewards Credit Card
The Capital One SavorOne is an excellent option for those who frequently dine out and enjoy entertainment, as it offers enhanced rewards in these categories.
- Cashback Rate: 3% on dining, entertainment, popular streaming services, and grocery stores (excluding superstores), and 1% on all other purchases.
- Annual Fee: $0
- Bonus: $200 cash bonus after spending $500 in the first three months.
- Additional Perks: No foreign transaction fees, making it a great card for international travelers who want to earn rewards on dining abroad.
The Capital One SavorOne is perfect for those who want high cash back in entertainment and dining categories without an annual fee, making it a good choice for social spenders.
7. Bank of America® Customized Cash Rewards Credit Card
This Bank of America® card allows you to select a preferred category, making it a versatile choice for cardholders who want control over their rewards.
- Cashback Rate: 3% in one chosen category (like gas, online shopping, dining, travel, drug stores, or home improvement/furnishings), 2% at grocery stores and wholesale clubs (on the first $2,500 in combined 3% and 2% category purchases each quarter), and 1% on other purchases.
- Annual Fee: $0
- Bonus: $200 online cash rewards bonus after spending $1,000 in the first 90 days.
- Additional Perks: Enhanced rewards for eligible Bank of America customers with Preferred Rewards status.
The Customized Cash Rewards Card offers flexibility in its bonus categories, making it ideal for those who want to tailor rewards to their spending habits.
Comparison Table
| Card | Cashback Rate | Annual Fee | Bonus | Best For |
| Chase Freedom Flex℠ | 5% on rotating categories, 3% on dining/drugstores, 1% on others | $0 | $200 after $500 spend in first 3 months | Flexible category spending |
| Citi® Double Cash Card | 2% on all purchases | $0 | None | Simple, flat-rate rewards |
| Blue Cash Preferred® Card | 6% on groceries/streaming, 3% transit/gas, 1% others | $95 (waived 1st year) | $250 after $3,000 spend in first 6 months | Grocery and streaming |
| Wells Fargo Active Cash℠ | 2% on all purchases | $0 | $200 after $500 spend in first 3 months | High flat-rate rewards |
| Discover it® Cash Back | 5% on rotating categories, 1% on others | $0 | Cashback match at end of 1st year | 1st-year cashback maximizers |
| Capital One SavorOne | 3% on dining, entertainment, streaming, groceries | $0 | $200 after $500 spend in first 3 months | Dining and entertainment |
| Bank of America Customized Cash | 3% in chosen category, 2% groceries/wholesale clubs, 1% others | $0 | $200 after $1,000 spend in first 90 days | Customizable rewards |
Choosing the Right Cashback Card
When selecting the best cashback credit card, consider your spending habits, lifestyle, and goals:
- Flat-rate cards like the Citi® Double Cash Card and Wells Fargo Active Cash℠ Card are best for those who prefer a consistent reward rate.
- Category cards like the Chase Freedom Flex℠, Discover it® Cash Back, and Bank of America Customized Cash Rewards allow you to optimize rewards by planning around specific spending areas.
- Lifestyle-focused cards like the Blue Cash Preferred® Card and Capital One SavorOne provide high rewards in specific categories such as groceries, dining, and entertainment, ideal for frequent spenders in these areas.
Each of these cards offers unique benefits, so the right choice depends on whether you prefer simplicity, high rewards in select categories, or the flexibility to choose your preferred spending areas. Regardless of the card, cashback credit cards can provide substantial value when used wisely.