Best Cash Back Credit Cards of June 2024 (2024)

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The information for the following product(s) has been collected independently by Business Insider: Wells Fargo Attune℠ Card, Capital One Savor Cash Rewards Credit Card†, Chase Freedom Flex℠, U.S. Bank Cash+® Visa Signature® Card. The details for these products have not been reviewed or provided by the issuer.

Best Cash Back Credit Cards of June 2024

• Best cash back credit card for everyday spending: Chase Freedom Unlimited®
• Best cash back credit card for flat-rate cash rewards: Wells Fargo Active Cash® Card
• Best cash back credit card for rotating cash back categories: Discover it® Cash Back
• Best cash back card for families: Blue Cash Preferred® Card from American Express
• Best cash back credit card for groceries, dining, and entertainment: Capital One SavorOne Cash Rewards Credit Card
• Best cash back credit card for self-care and pet care: Wells Fargo Attune℠ Card

Introduction to Cash Back Credit Cards

Cash-back credit cards are among some of the most popular card types, returning anywhere from 1% to 10% cash back on all kinds of purchases — and often without an annual fee. For folks who are just getting into credit card rewards, or who want to keep things simple, cash-back credit cards are a good choice since they don't require much work to use.

Best Cash Back Credit Card Comparison

Best Cash Back Credit Card Reviews

Cash back credit cards make it easy to rack up rewards by offering simple redemption opportunities: Either convert your cards into a statement credit toward your card's outstanding balance, or use them for travel redemptions or other exciting prizes and rewards. The best cash back credit cards offer bonus categories, introductory 0% APR for balance transfers and new purchases, or additional value on everyday transactions.

These are the top options available in 2024, according to Business Insider's team of personal finance experts.

Best Cash Back Card for Everyday Spending

If you're looking for a card that combines strong bonus categories with decent flat-rate rewards on non-bonus spending, the Chase Freedom Unlimited® could fit the bill. It offers 5% cash back (5x points) on travel purchased through Chase Travel, 3% cash back (3x points) on dining and drugstore purchases, and 1.5% cash back (1.5x points) on everything else.

The Chase Freedom Unlimited® has no annual fee and offers a 0% intro APR on purchases and balance transfers for the first 15 months. After that, there's a 20.49% - 29.24% Variable. If you have a major purchase ahead of you, that introductory offer can be useful.

If you also have an annual-fee Chase Ultimate Rewards card like the Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, or Ink Business Preferred® Credit Card, you can pool your points from the two cards. Then, you'll be able to transfer the whole body of points to Chase's airline and hotel partners or use them to book travel through Chase with a bonus.

Plus, the Chase Freedom Unlimited® has a substantial welcome offer: additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year).

Read our Chase Freedom Unlimited® review

Best Cash Back Card for Flat-Rate Cash Rewards

Not only does the Wells Fargo Active Cash® Card rank highly in this guide, but it also tops our list of the best 2% cash back credit cards. It earns a flat rewards rate on everything — 2% cash rewards on purchases, with no bonus categories to keep track of. Our guide to earning and redeeming Wells Fargo Rewards details all the ways to use your cash rewards from this card.

It offers a substantial welcome bonus for a no-annual-fee card: $200 cash rewards bonus after spending $500 in purchases in the first three months from account opening. In addition, new cardholders get a 0% intro APR on purchases and qualifying balance transfers for 15 months from account opening (followed by a 20.24%, 25.24%, or 29.99% variable APR). That's super useful if you have large expenses you want to pay off over time.

The Wells Fargo Active Cash® Card comes with a good array of benefits, which include cell phone protection, roadside dispatch, travel emergency assistance, and access to the Visa Signature® Concierge. However, it does charge foreign transaction fees, so if you're traveling outside the US, you'll want to pack a different card.

Read our Wells Fargo Active Cash® Card review

Best Cash Back Card for Rotating Cash Back Categories

If you prefer a card that earns straight cash back, not points, and like the idea of rotating bonus categories, the Discover it® Cash Back could be a great fit. You can earn 5% cash back in popular rotating quarterly bonus categories when you activate, on up to $1,500 in combined spending (then 1%). You'll also earn 1% back everywhere else (from April 1 to June 30, 2024, earn 5% cash back atgas stations & electric vehicle charging stations, home improvement stores, and public transit on up to $1,500 in purchases after enrollment, then 1%).

Instead of a regular welcome bonus, Discover rewards new cardholders in a different way. After the first 12 months, it will match all of the rewards you earn from the card through the Discover Cashback Match program. That means you can effectively earn up to 10% back in your first year — and if you're a big spender, this can pay off handsomely.

Read our Discover it® Cash Back review

Best Cash Back Card for Families

If you're looking for an American Express cash back card, especially if you have a large family that spends a lot on groceries, streaming, and commuting, the Blue Cash Preferred® Card from American Express is an excellent option. Itoffers a 0% intro APR for 12 months on purchases and balance transfers from the date of account opening, before switching to a 19.24% - 29.99% Variable APR.

Currently, the card offers a welcome bonus of a $250 statement credit after you spend $3,000 in eligible purchases on your new card within the first six months from account opening. It also comes with a handful of travel and shopping protections, including car rental insurance, return protection, purchase protection, and extended warranty.

Keep in mind there's an annual fee of $0 intro for the first year, then $95, so you'll want to be sure you spend enough to justify paying it. If you prefer a no-annual-fee Amex cash-back card, check out the Blue Cash Everyday® Card from American Express instead.

The Blue Cash Preferred® Card from American Express offers the highest rewards rate available for grocery spending, although there is a $6,000 annual spending cap on that 6% rate. After that, you earn 1% (cash back is received in the form of Reward Dollars that can be redeemed as statement credits or at Amazon.com checkout). Otherwise, the card earns 6% back on select U.S. streaming subscriptions, 3% back at U.S. gas stations and on transit, and 1% back on all other purchases.

Read our Blue Cash Preferred® Card from American Express review

Best Cash Back Card for Groceries, Dining, and Entertainment

The Capital One SavorOne Cash Rewards Credit Card seems almost custom-made for folks who like to get out and experience life to the fullest. If you're a foodie, love attending concerts and sporting events, or even enjoy entertaining at home, this card can help you earn a lot of rewards for your spending.

Cardholders earn 3% cash back on dining, at grocery stores (excluding superstores like Walmart and Target), entertainment, and popular streaming services, and 1% cash back on all other purchases. The Capital One SavorOne Cash Rewards Credit Card also offers 5% cash back on hotels and car rentals booked through the Capital One Travel portal.

The welcome bonus is generous, too: $200 cash back after you spend $500 on purchases within three months from account opening. And if you've got big purchases coming up, a 0% intro APR on purchases and balance transfers for 15 months (3% fee for the first 15 months, then 4% at a promotional APR that Capital One may offer you at any other time) (followed by a 19.99% - 29.99% Variable APR) can make it easier to spread out your payments (rates and fees).

This card offers a handful of good benefits, including extended warranty***, travel accident insurance***, and travel emergency assistance services***. As with all other Capital One credit cards, you won't pay foreign transaction fees on international purchases, so it's great to use when you're out globetrotting.

Also, if you don't think your credit score is good enough to qualify for the regular version of the card, and you're currently enrolled in college, you could apply for the student version of the card to convert to the regular version after graduation.

Read our Capital One SavorOne Cash Rewards Credit Card review

Best Cash Back Card for Self-Care and Pet Care (Gyms, Spas, Pet Care)

The brand-new Wells Fargo Attune℠ Card is perfect for people who prioritize fitness, self-care, pet care, live shows and other ticketed experiences, and environmentally friendly choices. This no-annual-fee card earns 4% cash back on select purchases in self-care, planet-friendly, and entertainment categories such as gyms and fitness expenses, spas, pet care and grooming, concert tickets, public transit, some thrift stores, EV charging stations, and similar purchases.

New cardholders can also take advantage of two introductory offers: $100 cash rewards bonus when you spend $500 in purchases in the first three months from account opening, and 0% intro APR for 12 months from account opening on purchases (then 20.24%, 25.24%, or 29.99% variable APR).

Read more in our Wells Fargo Attune card review.

What You Should Know About Cash Back Credit Cards

Cash back credit cards can be an easy way to break into the world of credit card rewards. They come in a few different types:

• Flat rate —These cards earn the same rate of cash back on all purchases. For example, the Chase Freedom Unlimited® earns 1.5% back on most spending (the Freedom Unlimited also offers bonus cash back on eligible travel, dining, and drugstore purchases).
• Select bonus categories — Many other cash back cards offer bonus cash back (more than 1%) on select spending categories. For example, with the Capital One Savor Cash Rewards Credit Card† , you'll earn 4% back on dining, streaming services, and entertainment, and 3% back at grocery stores (excluding superstores like Walmart and Target).
• Rotating categories — A few cards, including the Chase Freedom Flex℠ , offer bonus cash back on a selection of spending categories that changes every quarter of the year. These cards have a cap on how much bonus cash back you can earn each quarter — with the Chase Freedom Flex℠, you'll earn 5% back on up to $1,500 in combined purchases each quarter (then 1%).
• Some cards are starting to offer yet a fourth format for delivering cash back rewards: pick your own bonus categories from a list of options. These cards include the Bank of America® Customized Cash Rewards Credit Card and the U.S. Bank Cash+® Visa Signature® Card .

If you're willing to juggle multiple credit card accounts, there's value in having both cash back and points-earning cards. If you prefer a single-card strategy, evaluate your goals and consider how much you're willing to pay in annual fees to make the best decision for your situation.

If you're trying to put money back in your wallet, our top recommendations are to transfer your cash back to a bank account or use it to reduce the amount owed on your credit card statement.

On the other hand, if you're hoping to earn rewards that you can redeem for travel, a card that earns points is more up your alley. Our points-earning picks for the best rewards credit cardsearn either Amex Membership Rewards points, Chase Ultimate Rewards points, Citi ThankYou Rewards points, or Capital One miles. You can transfer all of these currencies to travel partners and redeem them for things like free flights. (Note that while Capital One calls its rewards currency "miles," they aren't miles with a given airline program.)

How to Use a Cash Back Credit Card

To use a cash back credit card, you'll want to remember that it won't be worth it if you're paying interest or late fees. It's important to pay your balance in full each month, make payments on time, and only spend what you can afford.

Cash back cards vary greatly in their return rates — you can earn anywhere from 1% to 6% back. Even better, many cash back cards have no annual fee, so you don't have to pay for the privilege of earning rewards.

If you're new to rewards credit cards and aren't interested in earning travel points or miles, a cash back card is the best option for you. With cash back cards, 1% back will always be 1 cent back, no matter what, and you can use your cash back to lower your monthly bill or transfer it to your checking account, among other options.

The best cash back credit card for you depends on your spending habits and if you prefer a flat rate of cash back on all spending or earning bonus cash back on specific types of purchases. Flat-rate cash back cards are best for those who don't want to keep track of multiple bonus categories and just want a simple earning structure.

But if you really want to maximize your rewards earning, choosing a card that earns bonus cash back in categories where you spend a lot — like groceries, dining, or gas — can make a huge difference in your rate of return.

How to Choose a Cash Back Credit Card

To choose the best cash back credit card for you, you'll want to look for a few things:

• The cash back rate for your common spending categories. Extra cash back for gas isn't much use if you don't drive. Consider how you intend to use this card, and look at the rate for those spending categories.
• How you redeem your cash back. Make sure you're clear on what you're earning. Is it statement credit? Cash? Points? If points, can they be combined with or transferred to other cards you have, or brands you like?
• The annual fee. An annual fee may make or break your choice. Are you willing to pay one? And more importantly, can you afford it comfortably — or will it be effectively wiped out by the cash back you'll earn in a year?

We don't mention the APR because the rate only applies if you're carrying a balance on your credit card. We recommend applying for a cash back credit card intending to pay off the balance in full each month. For other categories of credit cards, like balance transfer cards, the APR might be a more important consideration.

If this all sounds too complicated, you can't go wrong by using the Wells Fargo Active Cash® Card, which has no annual fee and a flat earning rate of 2% cash rewards on purchases.

Cash back credit cards are often best used in combination with cards that earn points to create a complete credit card portfolio that takes advantage of multiple types of rewards. If you're trying to decide whether to open a cash back credit card, whether as your first card or one of many, bear these pros and cons in mind:

Pros of cash back credit cards

• They rarely carry annual fees
• There are no restrictions on how you can redeem and spend the cash
• You can earn airline and hotel status by booking with cash (but not points)

Cons of cash back credit cards

• They rarely offer large sign-up or welcome bonuses
• Cash back is generally less valuable, dollar for dollar, than points

Cash Back Credit Card Best Practices

If you have a cash-back credit card or are considering opening one, you'll want to make the most of it. Keep the following steps in mind to get the most value from your card:

Always Pay Your Balance in Full

Credit card cash back or points aren't useful if you're carrying a balance and paying interest charges each month. To make the most of rewards, use your card responsibly: Spend only the money you have and pay your bill in full each month.

Track and Maximize Bonus Categories

Some cash-back cards offer elevated rewards rates on specific spending areas, like restaurants, gas stations, or supermarkets. Some of these cards even change those areas from quarter to quarter, meaning you'll want to stay on top of where your card earns the most and when.

If you use your cash-back card for every purchase, you don't need to be as diligent, but if you're using your card as one of many you'll want to be sure you know how to maximize rewards.

Redeem Your Cash Back Rewards

It might be tempting to let your cash back pile up just to watch the total tick up, but it's more useful if you redeem it. You can generally apply the cash to your card balance or get it deposited in your checking account, and either one is a fine option.

Consider Opening A "Partner" Card For Additional Value

As mentioned above, in some cases, you can transfer cash back to a points-earning card on which your rewards are worth more. This strategy isn't required to make the most of your cash back card, but it can help take rewards to the next level.

Chase cards are an example of this: If you hold a cash-back card like the Chase Freedom Flex℠ and a points-earning card like the Chase Sapphire Preferred® Card, you can transfer rewards earned on the Freedom Flex to the Sapphire Preferred, and unlock more redemption options.

Cash Back Credit Card Frequently Asked Questions

Why You Should Trust Us: How We Chose the Best Cash Back Credit Cards

We looked at the dozens of cash back credit cards currently available to new applicants and narrowed down our list by looking at a few factors:

• Ease of use — Are there any hoops to jump through, like needing to be a member of a specific bank?
• Rewards earning potential — How much cash back can you earn with this card, and how broad are the bonus categories?
• Annual fee — Many cash back cards waive an annual fee, but for the few that do charge a fee, is it justified based on the card's rewards?
• Options for various types of consumers — We wanted our top cash back card picks to reflect different types of users, from families looking to maximize grocery spending to those looking to rebuild their credit score.

See a full breakdown of how we rate credit cards at Business Insider.