The battle of the cashback cards is getting hotter! Let’s dive into the top contenders for maximizing your everyday spending in 2024.
1. Wells Fargo Active Cash® Card
- The Simplicity Star: This card delivers a flat 2% cashback on all purchases. No juggling categories, no remembering to activate bonuses. It’s a straightforward way to earn consistent rewards.
- Welcome Bonus: You can nab a cool $200 cash rewards bonus after spending $1,000 in the first 3 months.
2. Chase Freedom Flex℠
- Rotating Category Champion: Chase Freedom Flex brings the heat with 5% cashback on rotating quarterly categories (up to $1,500 spent per quarter, then 1%). Think groceries one quarter, then gas stations or streaming the next. Plus, it offers other perks like travel and purchase protections.
- Stat to Consider: In a recent survey, 35% of Chase Freedom Flex cardholders reported earning over $500 in cashback annually.
3. Citi® Double Cash Card
- Unbeatable Long-Term Value: Earn 1% back when you buy and another 1% when you pay your bill. The result? A potential 2% cashback rate with no annual fee. This card is a keeper.
- Best for: Those who prefer a simple strategy and want excellent long-term earning potential.
4. Blue Cash Preferred® Card from American Express
- Grocery & Streaming Guru: Snag 6% cashback at U.S. supermarkets (up to $6,000 in purchases annually, then 1%) and on select streaming services. Plus, 3% cashback on transit, including rideshares, and at U.S. gas stations.
- Noteworthy: Though it carries an annual fee ($95, see terms), power spenders in these categories can easily offset it.
5. Discover it® Cash Back
- Intro Offer Powerhouse: Discover often sweetens the pot with a first-year cashback match. This means all the rewards you earn in year one are doubled!
- Rotating Perks: Like the Chase Freedom Flex, Discover it® Cash Back has rotating 5% categories, making it a versatile earner.
Important Notes:
- Your Spending Habits Matter: The “best” card is the one that aligns with how YOU spend. A gas guzzler might love the Blue Cash Preferred®, while a foodie might prefer the Citi® Double Cash.
- Creditworthiness Is Key: Top-tier cards generally require good to excellent credit scores.
