Looking into the top cashback credit cards of 2024 can really boost your finances. It lets you maximize savings and enjoy lots of credit card benefits. These cards offer flat-rate rewards or rewards for specific spending areas. They’re perfect for anyone who shops a lot, buys things online, or wants flexible rewards.
Key Takeaways
- Cashback credit cards have special offers at the start — you could get bonuses up to $200 after spending a certain amount.
- Rewards rates vary from 1% to 6%, based on the card and what you buy.
- Many top cashback credit cards of 2024 don’t have annual fees.
- There are different spending categories for more cash rewards, like groceries, gas, dining, and online shopping.
- Customizable cashback cards give you benefits that match your spending habits.
- It’s important to think about annual fees, reward rates, and your spending when picking the best card.
- There are also travel reward cards and those with 0% intro APR periods. These offer more options based on your financial goals.
Introduction to Cashback Credit Cards
Cashback credit cards are popular for their easy way to earn cash rewards on your everyday spending. They work by giving you a percentage of your purchase back as rewards. You can then use these rewards for easy savings. You can get your rewards as statement credits, direct deposits, or checks.
Most cashback cards don’t have an annual fee. This makes them a great choice for those wanting rewards without extra costs. Flat-rate cashback cards are easy to understand. They give you cash back at rates between 1% to 2% on all your purchases. The Citi Double Cash® Card is a top example, offering 2% cash back on everything.
Bonus-category cashback cards are great for those who like to track their spending. They offer higher cashback rates, often between 2% to 6%, in certain categories like dining, groceries, and gas stations. The Blue Cash Preferred® Card from American Express and the Discover it® Cash Back card are great choices. These cards may have rotating categories or let you pick your own, making the rewards more exciting.
When picking a cashback card, think about the reward rates, spending categories, and any annual fees. Look for at least 1.5% cash back on all purchases or 3% in your high-spend areas. Using a flat-rate card with a bonus-category card can boost your rewards, leading to more savings over time.
Here’s a look at popular cashback credit cards and their main features:
| Card Type | Cashback Rate | Common Categories | Complexity |
|---|---|---|---|
| Flat-Rate | 1% – 2% | All Purchases | Low |
| Fixed Bonus Categories | 2% – 6% | Dining, Groceries, Gas Stations | Medium |
| Rotating Bonus Categories | Up to 5% | Changing Categories | High |
| Cardholder’s Choice | Varies | User Selected | Medium |
Top Flat-Rate Cashback Credit Cards
Looking for the best cashback rates? Check out flat-rate rewards credit cards. They offer a simple way to earn cash back on every purchase. Here are some top picks you should consider.
Wells Fargo Active Cash® Card
The Wells Fargo Active Cash® Card is a great choice with its 2% cash back on all purchases. There’s no annual fee. New cardholders get a $200 cash bonus after spending $500 in the first three months. Plus, enjoy a 0% intro APR on purchases and balance transfers for 15 months.
Citi Double Cash® Card
The Citi Double Cash® Card is known for its easy rewards system. You get 2% cash back on every purchase. No annual fee applies. Plus, enjoy a 0% intro APR on balance transfers for 18 months. For a limited time, earn 5% cash back on hotel, car rentals, and attractions booked through the Citi Travel℠ portal.
PayPal Cashback Mastercard®
The PayPal Cashback Mastercard® is perfect for PayPal users. It offers 2% cash back on all purchases and 3% back on PayPal purchases. This card combines PayPal’s flexibility with great rewards for frequent users.
Capital One Quicksilver Cash Rewards Credit Card
The Capital One Quicksilver Cash Rewards Credit Card gives 1.5% cash back on all purchases. There’s a $200 cash bonus after spending $500 in the first three months. It also has a 0% intro APR on purchases and balance transfers for 15 months.
| Card | Cash Back Rate | Sign-Up Bonus | Intro APR | Annual Fee |
|---|---|---|---|---|
| Wells Fargo Active Cash® Card | 2% on all purchases | $200 | 0% for 15 months | $0 |
| Citi Double Cash® Card | 2% on all purchases (1% when you buy, 1% when you pay) | None | 0% for 18 months | $0 |
| PayPal Cashback Mastercard® | 2% on all purchases, 3% on PayPal purchases | None | None | $0 |
| Capital One Quicksilver Cash Rewards Credit Card | 1.5% on all purchases | $200 | 0% for 15 months | $0 |
Best Cashback Cards with Bonus Rewards Categories
Looking to boost your cashback on everyday purchases? Cards with bonus categories are a great choice. They let you earn more by spending in certain areas. Here are some top picks:
- Chase Freedom Unlimited®: This card offers 1.5% base rewards and a 5% bonus on travel booked through Chase Travel, and 3% on dining and drug store purchases. Plus, it has no annual fee.
- U.S. Bank Shopper Cash Rewards™ Visa Signature® Card: Perfect for specific shopping needs, this card gives 6% cash back on your first $1,500 in combined eligible purchases each quarter in two retail categories you choose.
- Capital One SavorOne Cash Rewards Credit Card: Great for dining out and entertainment lovers, this card gives 3% bonus on dining, entertainment, grocery stores, and select streaming services. Plus, a $200 sign-up bonus after spending $1,000 in the first three months.
- Citi Custom Cash® Card: For flexible rewards, this card offers 5% cash back on up to $500 spent in your top eligible spend category each billing cycle, fitting various spending patterns.
When comparing these cashback cards, pick the one that matches your lifestyle to get the most rewards. Below is a table showing key features:
| Card | Bonus Categories | Base Rewards Rate | Annual Fee | Sign-Up Bonus |
|---|---|---|---|---|
| Chase Freedom Unlimited® | 5% on travel through Chase Travel, 3% on dining and drug stores | 1.5% | $0 | $200 |
| U.S. Bank Shopper Cash Rewards™ Visa Signature® Card | 6% on two eligible retail categories each quarter | – | $0 | $200 after $2,000 in the first six months |
| Capital One SavorOne Cash Rewards Credit Card | 3% on dining, entertainment, grocery stores, streaming services | 1% | $0 | $200 after $1,000 in the first three months |
| Citi Custom Cash® Card | 5% on up to $500 in top spend category each billing cycle | 1% | $0 | $200 after $1,500 in the first six months |
These cards let you earn more by spending in certain areas. Knowing which categories match your spending can help you get the most cashback.
High-Rewards Categories for Families
Choosing the right credit card can really help with family expenses. The Blue Cash Preferred® Card and the Blue Cash Everyday® Card from American Express are great for families. They offer big rewards on supermarket and gas purchases.
Blue Cash Preferred® Card from American Express
The Blue Cash Preferred® Card is perfect for families. It gives you 6% cash back at U.S. supermarkets, up to $6,000 a year. You also get 3% back on gas and transit expenses, and 6% on select U.S. streaming services.
Even with an annual fee, the rewards on family spending make it a great choice.
Blue Cash Everyday® Card from American Express
The Blue Cash Everyday® Card is ideal for those who don’t want an annual fee. It offers 3% cash back at U.S. supermarkets, great for families with big grocery bills. You also get 2% back at gas stations and U.S. department stores, and 1% on other purchases.
This card gives you good rewards on everyday expenses without costing extra.
Here’s a quick comparison of the two Blue Cash cards to help you decide which one best suits your family’s needs:
| Card | Supermarket Rewards | Gas Rewards | Annual Fee |
|---|---|---|---|
| Blue Cash Preferred® Card from American Express | 6% (up to $6,000/year) | 3% | $95 |
| Blue Cash Everyday® Card from American Express | 3% | 2% | None |
Both cards have their perks, depending on your family’s spending. If you want more rewards and don’t mind a fee, the Blue Cash Preferred Card is for you. For a no-fee option with balanced rewards, the Blue Cash Everyday Card is the way to go.
Maximizing Rewards with Customizable Cashback Credit Cards
Customizable cashback credit cards let you earn rewards your way. They’re perfect for those who want to adjust their rewards based on what they spend. Let’s look at some top choices available today.
Citi Custom Cash® Card
The Citi Custom Cash® Card offers automatic 5% cash back on up to $500 spent in your top spending area each billing cycle. This makes earning rewards easy without picking categories yourself. Plus, it gives 1% cash back on other purchases and has no annual fee. It’s a great pick for those who want flexible rewards in their daily spending.
Bank of America® Customized Cash Rewards Credit Card
The Bank of America® Customized Cash Rewards credit card gives you control over your rewards. Choose a category like gas, online shopping, dining, travel, drug stores, or home improvement/furnishings to earn 3% cash back. You also get 2% cash back at grocery stores and wholesale clubs for up to $2,500 combined spend per quarter. This flexibility lets you make the most of your cash back.
U.S. Bank Cash+® Visa Signature® Card
The U.S. Bank Cash+® Visa Signature® Card is known for its high customization level. You can pick two categories to earn 5% cash back on up to $2,000 in combined eligible purchases each quarter. Plus, choose one 2% category. This lets you adjust your rewards to fit your spending changes.
| Credit Card | Primary Cash Back Rate | Bonus Categories | Annual Fee |
|---|---|---|---|
| Citi Custom Cash® Card | 5% on up to $500 in top spend category | 1% on other purchases | $0 |
| Bank of America® Customized Cash Rewards Credit Card | 3% in chosen category, 2% at grocery stores and wholesale clubs (up to $2,500) | N/A | $0 |
| U.S. Bank Cash+® Visa Signature® Card | 5% on up to $2,000 in two chosen categories, 2% in another | N/A | $0 |
Best Cashback Credit Cards for Online Shopping
In today’s digital world, using cashback credit cards for online shopping is a smart move. The Apple Card and the Prime Visa are top choices for those who spend a lot online. They offer special rewards for frequent online shoppers and those who enjoy the benefits of online shopping.
Apple Card
The Apple Card is perfect for tech lovers who use digital wallets. You get 2% cash back on Apple Pay purchases at many stores. Plus, you earn 3% back at Apple and some other places, making it great for online shoppers.
Prime Visa
The Prime Visa is designed for Amazon Prime members, offering 5% back on Amazon and Whole Foods purchases. It also gives extra rewards at restaurants, gas stations, and for local travel. This card is ideal for those who shop online a lot, helping to reduce their daily expenses.
| Credit Card | Cash Back Rate | Special Features |
|---|---|---|
| Apple Card | 2% – 3% | 2% on Apple Pay; 3% at Apple and select merchants |
| Prime Visa | 5% | 5% on Amazon and Whole Foods; bonus rewards at restaurants, gas stations, local transit, and commuting |
Finding the Best Cashback Credit Cards for Your Spending Habits
Choosing the right cashback credit card can boost your rewards by matching your spending. Look at your expenses in areas like dining, groceries, travel, and utilities. This helps you pick the best card for you.
If you spend a lot on dining, the Chase Freedom Unlimited® might be a good choice. It offers up to 4.5% cash back on dining at restaurants. For grocery expenses, the Blue Cash Preferred® Card from American Express is great, giving 6% Cash Back at U.S. supermarkets on up to $6,000 per year.
For customizable rewards, the Citi Custom Cash® Card is a great option. It lets you earn 5% cash back on your top spending category each billing cycle, up to the first $500 spent. This way, your rewards match your spending habits, making every dollar more valuable.
Travelers should consider cards like the Capital One Quicksilver Cash Rewards Credit Card. It offers 5% cash back on hotels and rental cars booked through Capital One Travel. This can be a big help if you travel a lot, helping you get the most out of your travel expenses.
Here’s a quick comparison to help you decide:
| Credit Card | Primary Benefit | Cash Back Rate | Additional Perks |
|---|---|---|---|
| Chase Freedom Unlimited® | Dining & Drugstore | 4.5% | 0% APR for 15 months on purchases and balance transfers |
| Blue Cash Preferred® Card from American Express | Groceries | 6% | Up to $6,000 per year in purchases |
| Citi Custom Cash® Card | Flexible Spending | 5% | Top eligible spend category each billing cycle, up to $500 |
| Capital One Quicksilver Cash Rewards Credit Card | Travel | 5% on hotels and rental cars through Capital One Travel | Unlimited 1.5% on other purchases |
Understanding your spending habits helps you not leave money on the table. By choosing cards that match your spending, you can increase your rewards and reach your financial goals faster.
Pros and Cons of Using Cashback Credit Cards
Choosing a cashback credit card can be a smart move for your finances. But, it’s key to know the pros and cons to get the most benefits and avoid the drawbacks.
Pros of Cashback Credit Cards
Cashback credit cards are versatile. They offer flat rates or higher percentages on things like gas or groceries. Plus, sign-up bonuses can give you hundreds of dollars back, helping you save more. You can also earn cashback on shopping perks like price match guarantees and cell phone protection.
These cards can also help you avoid annual fees, which is great for building credit. Some cards have 0% APR offers for a while, saving you on interest. And, you won’t hit earnings caps, so you can earn more cashback over time.
Cons of Cashback Credit Cards
While cashback credit cards have many benefits, they also have challenges. A big drawback is the high APR, often over 20%, which can erase any rewards you earn. So, it’s important to spend wisely to make the most of the cashback. Also, some cards have foreign transaction fees, which can be a problem for those who travel abroad.
Another issue is that rewards can expire if you don’t use your card or miss payments. Some cards also have rules for earning more cashback, like needing to activate certain features. These rules can limit how much you save, affecting your overall earnings.
| Feature | Pros | Cons |
|---|---|---|
| Annual Fees | Often no annual fees | Higher rates may come with fees |
| APR | Intro 0% APR offers | High regular APR over 20% |
| Cashback Categories | Versatile earning options | Potential earning caps |
| Foreign Transactions | — | 3% transaction fees |
| Sign-Up Bonuses | Substantial initial rewards | Requires meeting spending criteria |
Conclusion
Choosing the right cashback credit card for 2024 is key to financial empowerment. There are many options, like the Citi Double Cash® Card for flat-rate rewards or the Capital One SavorOne Cash Rewards Credit Card for specific spending. Each card meets different needs, whether it’s everyday spending or earning cash back in certain categories.
It’s important to know the details of each card, including APR rates and annual fees. For example, the Wells Fargo Active Cash® Card offers 0% intro APR for 15 months on purchases and balance transfers. After that, the rate varies. It also has no annual fee. On the other hand, the Blue Cash Preferred® Card from American Express gives up to 6% cash back in key categories. It has a $0 intro annual fee for the first year, then $95.
Think about your spending habits and goals to pick the best card for you. The goal is to get the most rewards and enjoy the card’s perks. By understanding each card’s features, you can make smart choices. This way, you’ll make the most of your cashback in 2024 and beyond.
