Introduction
Cash back credit cards are some of the best ways to earn money back on your everyday spending. In 2024, there are many options to choose from, but not all credit cards are created equal. Some offer great rewards, while others may have high fees. This article will help you choose the best credit cards for cash back in 2024, so you can make smart choices and get the most value from your spending.
Why Cash Back Credit Cards are Worth It
Cash back cards are popular because they allow you to earn money back on things you buy every day. These cards give you a percentage of your purchases in cash or statement credits. It’s like getting paid to shop! Cash back rewards are simple and easy to use. You can use your earnings to pay down your balance or get it as cash.
Cash back credit cards are also easy to understand. Many people love how they give rewards without complicated rules. For example, you don’t need to keep track of points or miles. Every time you use the card, you earn cash.
In this article, we’ll talk about the best cash back cards for 2024. We’ll cover their features, how they work, and what makes them stand out.
How to Choose the Best Cash Back Credit Card
Look for No Annual Fee
The best cash back credit cards are those with no annual fee. This saves you money every year. Some cards charge a fee to use them. But with a no-fee card, you can keep all the cash you earn. So, make sure to pick one with no yearly charge.
Focus on Your Spending Habits
Think about how you spend money. If you spend a lot at grocery stores, look for a card that gives cash back on groceries. If you travel often, pick a card that rewards travel purchases. The more you match your spending to the card’s rewards, the more cash you can earn.
Watch for Introductory Offers
Many cards have special sign-up bonuses. These bonuses can give you a lot of cash back early on. Check the fine print to see how to qualify. Some cards give you a bonus after spending a certain amount in the first few months. This can boost your rewards fast!
Top 10 Best Credit Cards for Cash Back in 2024
1. Chase Freedom Unlimited®
Chase Freedom Unlimited® is one of the best cash back cards for everyday purchases. It offers 1.5% cash back on every purchase. Plus, there’s no annual fee. You can earn 5% on travel booked through Chase Ultimate Rewards®. This card also offers a $200 bonus if you spend $500 in the first 3 months. This makes it a great choice for new cardholders.
Why We Love It:
- Unlimited 1.5% cash back on all purchases
- $200 bonus with spending
- 5% cash back on travel through Chase
2. Blue Cash Preferred® Card from American Express
The Blue Cash Preferred® Card is perfect for people who spend a lot at supermarkets. It offers 6% cash back on U.S. supermarket purchases (up to $6,000 per year). It also gives 3% on gas and transit. Though it has a $95 annual fee, the rewards more than make up for it.
Why We Love It:
- 6% cash back at supermarkets
- 3% on gas and transit
- $300 bonus with spending
3. Citi® Double Cash Card
The Citi® Double Cash Card is one of the simplest cards to use. It gives 2% cash back: 1% when you make a purchase and 1% when you pay it off. There’s no limit on how much you can earn. And, there’s no annual fee. It’s a good choice for people who want a set-and-forget card.
Why We Love It:
- 2% cash back on all purchases
- No annual fee
- No limit on earnings
4. Discover it® Cash Back
Discover it® Cash Back offers 5% cash back on rotating categories each quarter. These categories change every three months, so you can earn big on things like groceries, gas, and online shopping. You also get 1% back on everything else. Plus, Discover matches all your cash back earned in the first year.
Why We Love It:
- 5% cash back on rotating categories
- 1% cash back on all other purchases
- Double your cash back in the first year
5. Capital One QuicksilverOne® Cash Rewards Credit Card
The Capital One QuicksilverOne® Cash Rewards Credit Card offers 1.5% cash back on all purchases. There’s an annual fee of $39, but it’s still a good choice for those who want simple cash back. It’s perfect for people with average credit who want a no-hassle card.
Why We Love It:
- 1.5% cash back on every purchase
- No rotating categories to track
- $39 annual fee
6. Bank of America® Cash Rewards Credit Card
The Bank of America® Cash Rewards Credit Card offers 3% cash back on a category of your choice. You can pick from categories like gas, online shopping, or dining. Plus, you get 2% back at grocery stores and wholesale clubs. It also comes with no annual fee.
Why We Love It:
- 3% cash back on your favorite category
- 2% cash back at grocery stores
- No annual fee
7. Wells Fargo Active Cash® Card
The Wells Fargo Active Cash® Card gives 2% cash back on all purchases. This is one of the highest flat-rate cash back offers on the market. It also comes with a $200 bonus if you spend $1,000 in the first 3 months. With no annual fee, it’s a great option for people who want to earn cash back with ease.
Why We Love It:
- 2% cash back on every purchase
- $200 bonus with spending
- No annual fee
8. U.S. Bank Cash+® Visa Signature® Card
The U.S. Bank Cash+® Visa Signature® Card gives you 5% cash back on two categories you choose. You can pick from things like home improvement, restaurants, or streaming services. You also get 2% back on groceries and 1% on everything else. The card has no annual fee and offers up to $200 bonus after qualifying purchases.
Why We Love It:
- 5% cash back on two categories you choose
- 2% cash back on groceries
- No annual fee
9. Amazon Prime Rewards Visa Signature Card
If you shop on Amazon a lot, the Amazon Prime Rewards Visa Signature Card could be perfect. It offers 5% cash back on Amazon purchases. It also gives 2% at restaurants, gas stations, and drugstores. You need to be an Amazon Prime member to qualify for this card.
Why We Love It:
- 5% back on Amazon purchases
- 2% at restaurants and gas stations
- No annual fee for Prime members
10. HSBC Cash Rewards Mastercard® Credit Card
The HSBC Cash Rewards Mastercard® Credit Card offers 1.5% cash back on all purchases. It also has a $200 cash back bonus after spending $1,500 in the first 3 months. The card has no annual fee and is a solid option for people who want simple cash back without extra fees.
Why We Love It:
- 1.5% cash back on all purchases
- $200 cash back bonus
- No annual fee
How to Maximize Your Cash Back Rewards
To get the most out of your cash back card, use it wisely. Here are a few tips:
- Pay on time: Avoid late fees that can eat into your cash back.
- Keep track of rotating categories: Some cards offer 5% cash back on categories that change quarterly. Make sure you know when to activate them.
- Use it for everyday purchases: The more you use your card, the more cash you’ll earn. Buy things like gas, groceries, and online shopping with your cash back card.
- Take advantage of sign-up bonuses: Many cards offer large bonuses for new cardholders. Don’t miss out on these extra rewards.
Conclusion
Choosing the best cash back credit card in 2024 depends on your spending habits and goals. Whether you prefer flat-rate cash back or rewards on specific categories, there’s a card that fits your needs. Remember to compare fees, rewards, and bonuses before making a decision. With the right card, you can earn cash back on every purchase and make your spending work for you.
