The Best Cash Back Credit Cards of 2024: Spend Money to Make Money!

Cash back credit cards are like the unicorns of the banking world: almost too good to be true. For those who love shopping but also want to be savvy savers, these cards are a match made in financial heaven. They reward you for purchases with a percentage of what you spend returned to you as cash back. In 2024, the competition among these cards is fierce, and the benefits are more attractive than ever. Here’s a roundup of the best cash back credit cards available this year, so you can turn your spending habits into earning achievements.

Best Cash Back Credit Cards of 2024

1. Citi® Double Cash Card
   • Cash Back Rate: 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
   • Annual Fee: $0
   • Why It’s Great: Simplicity and value. This card doesn’t make you track specific spending categories, making it a straightforward, hassle-free option for anyone.
2. Chase Freedom Flex℠
   • Cash Back Rate: 5% on up to $1,500 in combined purchases in bonus categories each quarter you activate, 5% on travel purchased through Chase, 3% on dining and drugstores, and 1% on all other purchases.
   • Annual Fee: $0
   • Why It’s Great: The rotating bonus categories allow you to maximize rewards on changing spending patterns throughout the year, perfect for those who plan their shopping strategically.
3. Capital One Savor Cash Rewards Credit Card
   • Cash Back Rate: 4% cash back on dining and entertainment, 2% at grocery stores, and 1% on all other purchases.
   • Annual Fee: $95 (waived the first year)
   • Why It’s Great: Ideal for those who spend a lot on dining and entertainment, this card offers high rewards rates in categories that most other cards don’t prioritize.
4. Blue Cash Preferred® Card from American Express
   • Cash Back Rate: 6% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%), 6% on select U.S. streaming subscriptions, 3% on transit and U.S. gas stations, and 1% on other purchases.
   • Annual Fee: $95
   • Why It’s Great: It offers one of the highest cash back rates at supermarkets, making it a must-have for families and those who cook at home frequently.
5. Discover it® Cash Back
   • Cash Back Rate: 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com, and more, up to the quarterly maximum when you activate. 1% unlimited cash back on all other purchases – automatically.
   • Annual Fee: $0
   • Why It’s Great: The cash back match at the end of your first year can potentially double your rewards if you maximize the 5% categories.

How to Choose the Right Cash Back Card for You

Choosing the right cash back card requires understanding your spending habits. If your expenses are varied and unpredictable, a flat-rate cash back card like the Citi® Double Cash Card might be your best bet. However, if you spend heavily in specific categories like travel, dining, or groceries, consider a card that offers higher rates in those areas.

Whether you’re a foodie, a commuter, a frequent shopper, or just looking for a way to offset costs on your everyday purchases, there’s a cash back card that suits your lifestyle. Remember, the best credit card is the one that aligns with your spending patterns and provides the greatest return on your expenses. Happy spending, and even happier earning!

Tip: Always pay off your balance in full each month to avoid paying interest, which can negate the benefits of your cash back!