Credit cards and saving money do not really go hand in hand. However, in an enticing twist of fiscal wisdom, certain credit cards make it possible to keep more cash in your pocket. Discover how cash back credit cards can become your money-saving allies for your personal finance planning.
The Top Cashback Credit Cards of 2024
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While credit cards are designed to lure in potential customers, cash-back credit cards actually offer a percentage-based refund on purchases. Imagine earning a rebate each time you fill your tank, restock your fridge, or pay your utility bill! This benefit sounds super appealing, but this perk does come with responsibility. This means that you when you make everyday purchases, you still need to avoid falling into an unnecessary spiral of splurging money. How? By selecting the right cash-back cards and using them wisely.
Let’s dive into the list of the most beneficial cash-back credit cards of 2024.
The Alliant Cashback Visa
The Alliant Cashback Visa is the money-back genie of the credit card world. Accessible through an Alliant Credit Union membership, the card has a robust cash-back reward program. Support the partner charity, Foster Care to Success with a $5 donation, and you’re in!
Cash Back: Generous 2.5% on all purchases (capped at $10,000 each billing cycle), provided you maintain a monthly average daily checking account balance of $1,000.
Annual Fee: Zero
Credit Score Compatibility: 670 – 850
Interest Rate: 12.24% – 22.24%
The Bank of America Customized Visa
The Bank of America Customized Visa is not just a cash-back card; it’s a bundle of exciting perks.
Welcome Bonus: Earn $200 cash rewards after making at least $1,000 in purchases within the first 90 days.
Cash Back: Get 3% back in the category of your choice, 2% at grocery stores and wholesale clubs (up to $2,500 per quarter), and 1% on all other purchases.
Annual Fee: Zero
Credit Score Compatibility: 670 – 850
Interest Rate: Enjoy a 0% introductory APR for the first 15 billing cycles, then it changes to 13.99% – 23.99%.
The American Express Blue Cash Everyday
The Blue Cash Everyday card by American Express is an attractive companion for fuel and shopping owing to its cash-back scheme.
Welcome Bonus: Earn $200 cash after spending $2,000 within the first six months.
Cash Back: Get 3% cash back at supermarkets (up to $6,000 per year, then 1%), 2% at U.S. gas stations, and 1% on other purchases.
Annual Fee: Zero
Credit Score Compatibility: 670 – 850
Interest Rate: 0% introductory APR for the first 15 months, then changes to 13.99% to 23.99%.
The American Express Blue Cash Preferred
The Blue Cash Preferred card by American Express is the ultimate grocery shopping champion.
Welcome Bonus: Earn a $300 statement credit after $3,000 in purchases within the first 6 months.
Cash Back: Take home 6% cash back at supermarkets on up to $6,000 in purchases per year (then 1%), 3% at gas stations and on transit costs (excluding air tickets), and 1% on all other purchases.
Annual Fee: $0 intro annual fee for the first year, then $95.
Credit Score Compatibility: 670 – 850
Interest Rate: 0% for first 12 months on purchases, then switches to 13.99% to 23.99%.
The Capital One SavorOne
The Capital One SavorOne card is good for grocery shopping, but especially great for those who regularly love dining out.
Welcome Bonus: Bag a $200 cash bonus after spending $500 within the first 3 months.
Cash Back: Enjoy unlimited 3% cash back on dining, entertainment, and groceries, and 1% on all other purchases.
Annual Fee: Zero
Credit Score Compatibility: 670 – 850
Interest Rate: 0% for first 15 months; then changes to 14.99% – 24.99%.
The Chase Freedom Unlimited Visa
The Chase Freedom Unlimited Visa card has one of the most attractive welcome bonuses.
Welcome Bonus: Get an additional 1.5% cash back on all purchases (on up to $20,000 spent in the first year).
Cash Back: Earn 5% cash back on travel via Chase, 3% on drugstore purchases and dining, and 1.5% on all other purchases.
Annual Fee: Zero
Credit Score Compatibility: 670 – 850
Interest Rate: 0% for the first 15 months; then it varies between 14.99% – 23.74%.
The Citi Custom Cash Card
The Citi Custom Cash card has a generous cash-back program coupled with other benefits.
Welcome Bonus: $200 cash back reward after spending $750 within the first 3 months.
Cash Back: Get 5% cash back on purchases in your top category each billing cycle, up to the first $500 spent, and 1% cash back thereafter. All other purchases bring an unlimited 1% cash back.
Annual Fee: Zero
Credit Score Compatibility: 670 – 850
Interest Rate: 0% for first 15 months; then shifts between 13.99% – 23.99%.
The “Discover it” Cash Back Card
If one is looking for another enticing welcome bonus plan then the Discover It Cash Back card is hard to resist.
Welcome Bonus: Enjoy double cash-back rewards for the first year.
Cash Back: Earn 5% cash back on purchases in selected categories each billing cycle, up to the first $1,500 spent each quarter. All other purchases bring an unlimited 1% cash back.
Annual Fee: Zero
Credit Score Compatibility: 670 – 850
Interest Rate: 11.99% – 22.99%”
