Best Cash Back Credit Cards July 2024

Trying to compare the best cash back credit cards? These cards may pay hundreds of dollars, with minimum hassle.

Disclaimer

This article covers only some of our picks for the best cash back credit cards. We may get compensation if you visit partner links on our site. We may not cover every available offer. Our relationship with advertisers may impact how an offer is presented on our website. However, our selection of products is made independently of our relationship to advertisers. We calculate a typical annual reward for each card, assuming $34,000 spent annually and less any annual fee. Interest rates, fees, rewards and other terms listed in this article are subject to change. Terms apply to American Express benefits and offers. Enrollment may be required for select American Express benefits and offers. Visit americanexpress.com to learn more. Rates and bonus offers were checked as of July 1, 2024.

Are you eying cash back credit cards to counter inflation? You're not alone. Most people comparing rewards credit cards opt for those that provide cold, hard cash over points and miles. 

Image

Citi Double Cash® Credit Card

Sign-up bonus: $200 cash back if you spend $1,500 on purchases in the first six months. And earn 5% total cash back on hotel and car rentals booked on the Citi Travel℠ portal through 12/31/24.

Get a total of 2% cash back on everything you buy: 1% when you make a purchase and an additional 1% when you pay the bill. Plus, through the end of 2024, get 5% back on hotel and car rentals booked through Citi’s travel portal. Rewards are tracked as Citi ThankYou points, which you can exchange at a rate of 1 cent apiece for a statement credit, direct deposit into your bank account or a check. The card also offers a generous 18-month, 0% interest deal on balance transfers, with a 3% fee.

The Kiplinger Readers' Choice Awards 2024: Cash Back Credit Cards named the Citi Double Cash credit card as a winner for overall satisfaction and most recommended.

Image

Farmers Insurance Federal Credit Union Crystal Visa

Sign-up bonus: $100 back if you spend $5,000 in the first three months.

Joining a credit union can take a bit more time than opening an account at a national bank. To entice new customers, Farmers is offering a whopping 3% cash back on all spending in the first year. After that, you get 2.5% back — a strong rate that makes the annual fee worthwhile for those who spend enough to justify it. The amount of spending that exceeds $10,000 each month does not earn rewards, which are provided as points that you can trade at a rate of a penny each for cash back. Anyone can join the credit union by becoming a member of the American Consumer Council and depositing $5 into a savings account.

Image

Wells Fargo Active Cash® Card 

Sign-up bonus: $200 back if you spend $500 in the first three months.

This card keeps it simple: Cardholders get 2% cash back on everything they buy. Redemption options include statement credits on purchases, a credit to other qualifying Wells Fargo accounts (including a checking account or mortgage) and gift cards.

Skip this card if you are planning significant travel outside the U.S., as there is a 3% foreign transaction fee.

Image

Chase Freedom Flex®

Sign-up bonus: Earn a $200 Bonus after you spend $500 on purchases in your first three months from account opening. Get 5% back on grocery store purchases on up to $12,000 spent in the first year (excluding Target and Walmart). 

Cardholders get 5% back on up to $1,500 spent each quarter in rotating categories. Second-quarter 2024 categories include Amazon.com, restaurants and hotels. On top of that, you get year-round rewards of 5% back on travel purchased through the Chase Ultimate Rewards® program, 3% on restaurant and drugstore purchases, and 1% on all other spending. You can trade the Ultimate Rewards points that you earn at a rate of a penny each for cash back, gift cards or travel bookings.

Image

Discover it® Cash Back Credit Card

Sign-up bonus: An unlimited dollar-for-dollar match of cash back earned after your first year.

This card’s strength lies in its generous bonus offer, which doubles your rewards in the first year. Cardholders get 5% cash back on up to $1,500 spent quarterly in rotating categories, such as grocery stores, restaurants, gas stations and more, and earn 1% cash back on all other purchases. You can redeem cash back as a statement credit or a deposit to an external account.

This card is also a good choice for balance transfers through October 10, 2024.

The Kiplinger Readers' Choice Awards 2024: Cash Back Credit Cards named the Discover It credit card a winner for outstanding customer service.

Image

U.S. Bank Shopper Cash Rewards™ Visa Signature® Card

Annual fee: $95, waived the first year.

Sign-up bonus: $300 back if you spend $2,000 in the first 120 days.

This card from U.S. Bank provides an outstanding 6% cash back on the first $1,500 of combined quarterly spending at two retailers you choose. Recently, cardholders could select from 24 major stores, including Amazon.com, Apple, Home Depot, Kohl’s, Lowe’s, Target and Walmart. You also get 3% back on the first $1,500 in quarterly spending in one category you choose; the options are gas and electric-vehicle charging stations, wholesale clubs, and bills and utilities. 

Plus, you earn 5.5% back on prepaid travel reservations through the U.S. Bank travel portal and 1.5% on all other spending — a higher rate than the 1% that most cards offer outside their maximum-rebate categories. You can redeem cash back as a statement credit, a prepaid debit card or a deposit into a U.S. Bank account. 

Image

Fidelity Rewards Signature® Visa

Customers of Fidelity Investments earn 2% back on each purchase with this card if they deposit rewards into qualifying Fidelity accounts, including brokerage and cash management accounts, 529 college savings plans, retirement accounts, donor-advised funds, and health savings accounts. You can also direct your rewards into a friend’s or family member’s account (excluding donor-advised funds). Although Fidelity does not offer savings accounts, it does provide money market mutual funds and other investment vehicles with low to moderate fees.

This card won the 2024 Kiplinger Readers' Choice Award for Best Cash Back Credit Card.

Image

SoFi Unlimited 2% Credit Card

Sign-up bonus: 3% cash back on up to $12,000 in purchases the first year if you have a qualifying monthly direct deposit into a SoFi Checking and Savings account.

This credit card from financial technology company SoFi offers 2% cash back on all spending if you deposit your rewards into a SoFi investment or banking account or apply them to a SoFi student loan or personal loan. 

Earn 3% cash-back rewards on purchases through SoFi Travel, the company’s travel-booking portal. SoFi’s Checking and Savings account is an attractive choice for rewards deposits, recently yielding a healthy 4.6% on the savings component of the balance and 0.5% on the checking portion if you have a monthly direct deposit into the account of at least $5,000.

Image

TD Double Up Visa

Sign-up bonus: TD recently raised the sign-up bonus amount from $100 to $150 back if you spend $1,000 in the first 90 days. 

Earn cash back at a rate of 2% on each purchase. You can redeem points for a statement credit or a deposit into the bank account of your choice. If you trade points that you earn for statement credits, travel or gift cards, you get a 1% payback on spending. Recently, a TD Bank Signature Savings account with a minimum balance of $10,000 had no monthly fee and a 2% yield.

The card charges a 3% foreign transaction fee, so use another card for international travel.

Image

American Express® Gold Card

Annual fee: $250.

Intro bonus: Up to 60,000 points if you spend $6,000 in the first six months.

Earn four points per dollar spent at U.S. supermarkets (but not superstores such as Walmart or Target), on up to a whopping $25,000 spent per year. Cardholders also earn four points per dollar on dining or food delivery, three points on air travel, and one point on other spending. The most lucrative way to redeem points is for airfare booked through Amex Travel, or as transfers to hotel or airline partner programs. 

When you use your Gold Card as a payment option on your Uber account, you get $10 in Uber Cash each month toward Uber Eats or Uber rides. To receive this benefit, you must have downloaded the latest version of the Uber App and your eligible American Express Gold Card must be a method of payment in your Uber account. The Amex Benefit may only be used in the United States. You can also get $10 in monthly statement credits for purchases at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, Milk Bar and select Shake Shack restaurants.

See rates and fees.

Terms apply.

Image

Blue Cash Preferred® Card from American Express 

Annual fee: $95, waived the first year. 

Intro bonus: Earn a $250 statement credit after you spend $3,000 in eligible purchases on your new Card within the first six months.

The typical American household spent about $5,700 on groceries in 2022, according to the most recent data available from the U.S. Bureau of Labor Statistics. So many consumers could benefit from the exceptional 6% cash back that this card provides on up to $6,000 of supermarket spending annually. (Big-box stores such as Walmart and Costco are excluded.)

The card also offers 6% back on select streaming subscriptions, 3% at gas stations and on transit (such as ride-sharing services and tolls), and 1% on other spending. Redeem cash back for statement credits.

The Card has a 2.7% foreign transaction fee, so select another credit card for travel abroad. See rates and fees

The Kiplinger Readers' Choice Awards 2024: Cash Back Credit Cards named the Blue Cash Preferred credit card a winner for outstanding customer service and most recommended.

Image

Costco Anywhere Visa® Card By Citi

Members of Costco Wholesale ($60 annually for a Gold Star membership or $120 annually for an Executive membership) can apply for this card, which provides 4% cash back on up to $7,000 per year spent at gas and EV charging stations. 

Cardholders also get 3% on restaurant and travel spending, 2% on Costco purchases and 1% on other spending. You receive cash back as a certificate each year after your February billing statement closes, and you can exchange it for cash or merchandise at Costco warehouses. Certificates are redeemable through December 31 each year.  

The Kiplinger Readers' Choice Awards 2024: Best Cash Back Credit Cards named the Costco Anywhere Visa Card By Citi outstanding for overall satisfaction.

Image

PNC Cash Rewards® Visa® Credit Card

Sign-up bonus: $250 back if you spend $1,000 in the first three months.

You can apply for this card if you have a new or existing PNC Bank checking or savings account. Get 4% back on gas station purchases, 3% on dining, 2% on grocery stores (on the first $8,000 combined in those categories per year) and 1% back on other spending. Redeem cash back as a statement credit or deposit in your PNC account.

The card is limited to customers who can qualify for a minimum of a $500 credit line.

Image

Sam’s Club® Mastercard®

If you’re a member of Sam’s Club, consider this card for the 5% cash back it provides on up to $6,000 spent each year on gas. After that, you earn 1% back on gas until the end of the year.

You can get the 5% back on your card at any gas station that accepts Mastercard, and you can also get 5% for EV charging.

Cash back is redeemable only at Sam's Club stores or online site, so be sure you can spend enough at Sam's Club to make the rewards worth it.

Disclaimer

As an independent publication dedicated to helping you make the most of your money, the article above is our view of the best deals and is not the opinion of any entity mentioned such as a card issuer, hotel, airline etc. Similarly, the content has not been reviewed or endorsed by any of those entities.

Ellen Kennedy
Personal Finance Editor, Kiplinger.com

Ellen writes and edits personal finance stories, especially on credit cards and related products. She also covers the nexus between sustainability and personal finance. She was a manager and sustainability analyst at Calvert Investments for 15 years, focusing on climate change and consumer staples. She served on the sustainability councils of several Fortune 500 companies and led corporate engagements. Before joining Calvert, Ellen was a program officer for Winrock International, managing loans to alternative energy projects in Latin America. She earned a master’s from the U.C. Berkeley in international relations and Latin America. 

With contributions from