Are you looking to maximize your rewards on everyday purchases? Cashback credit cards can be an excellent way to earn money back on your regular spending.
10 Best Cashback Credit Cards for Everyday Purchases in 2024
In this guide, we'll explore the top 10 cashback credit cards for 2024, helping you choose the best option for your lifestyle and spending habits.
1. Citi Double Cash Card
The Citi Double Cash Card offers a straightforward 2% cashback on all purchases - 1% when you buy and 1% when you pay your bill. With no annual fee, this card is perfect for those who want a simple, high-earning cashback card for all their expenses.
Example: If you spend $1,000 per month, you'll earn $20 in cashback rewards.
2. Chase Freedom Unlimited
Earn 1.5% cashback on all purchases, plus bonus categories including 5% on travel purchased through Chase Ultimate Rewards and 3% on dining and drugstore purchases. This card offers flexibility and higher earning potential in specific categories.
Example: A $100 dinner out earns you $3 back, while a $500 flight booked through Chase earns $25.
3. American Express Blue Cash Preferred
With 6% cashback at U.S. supermarkets (up to $6,000 per year) and on select U.S. streaming services, this card is ideal for families and entertainment enthusiasts. It also offers 3% cashback at U.S. gas stations and on transit.
Example: Spending $500 monthly on groceries earns you $30 back, while a $15 monthly streaming service subscription gives you $0.90 back.
4. Capital One Quicksilver Cash Rewards
Enjoy a simple 1.5% cashback on all purchases with no annual fee. This card is great for those who want a straightforward rewards structure without having to think about bonus categories.
Example: A $2,000 monthly spend across all categories would earn you $30 in cashback.
5. Discover it Cash Back
Earn 5% cashback on rotating categories each quarter (up to the quarterly maximum when you activate), plus 1% on all other purchases. Discover also matches all the cashback you've earned at the end of your first year.
Example: If you spend $1,500 in the quarterly bonus category (like groceries or gas), you'll earn $75 back.
6. Bank of America Customized Cash Rewards
Choose your own 3% cashback category from a list including gas, online shopping, dining, travel, drug stores, or home improvement/furnishings. You'll also earn 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases).
Example: If you choose online shopping and spend $500 in that category, you'll earn $15 back.
7. U.S. Bank Cash+ Visa Signature Card
Select two categories to earn 5% cashback (on up to $2,000 in combined eligible purchases each quarter) and one category to earn 2% cashback. This card offers great flexibility for those with varying spending habits.
Example: If you max out the $2,000 quarterly limit in your 5% categories, you'll earn $100 back.
8. Wells Fargo Active Cash Card
Earn a flat 2% cashback on all purchases with no annual fee. This card is perfect for those who want high earning potential without the complexity of bonus categories.
Example: A $3,000 monthly spend across all categories would earn you $60 in cashback.
9. Amazon Prime Rewards Visa Signature Card
For Amazon Prime members, this card offers 5% cashback at Amazon.com and Whole Foods Market, making it an excellent choice for frequent Amazon shoppers. You'll also earn 2% at restaurants, gas stations, and drugstores.
Example: A $200 Amazon purchase earns you $10 back, while a $50 restaurant bill gives you $1 back.
10. PayPal Cashback Mastercard
Earn 3% cashback on all purchases when you pay with PayPal or your PayPal Cashback Mastercard. This card is great for online shoppers who frequently use PayPal.
Example: If you spend $1,500 per month using PayPal or the card, you'll earn $45 in cashback rewards.
How to Choose the Right Cashback Card
When selecting a cashback credit card, consider the following factors:
- Your spending habits and categories
- Annual fees vs. potential rewards
- Sign-up bonuses and introductory offers
- Additional perks and benefits
- Redemption options and flexibility
Remember, the best card for you depends on your individual financial situation and spending patterns. It's essential to compare different options and read the fine print before applying.
Tips for Maximizing Your Cashback Rewards
- Use your card for all eligible purchases
- Pay your balance in full each month to avoid interest charges
- Take advantage of rotating categories and bonus offers
- Consider using multiple cards to maximize rewards in different categories
- Set up automatic payments to ensure you never miss a due date
Cashback credit cards can be a valuable tool for savvy consumers looking to make the most of their everyday purchases. By choosing the right card and using it responsibly, you can earn substantial rewards over time. Remember to always manage your credit card debt wisely and avoid overspending just to earn rewards.
