Best Cash Back Cards of July 2024
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Best Cash Back Cards of July 2024
“In new credit card wars, consumers emerge as big winners” – Newsweek
This year, credit card companies are competing intensely for your business, releasing brand-new cards with incredible cash back perks and easy-to-earn sign-up bonuses.
That’s great news for all of us! It also means that if you’re still using that same old credit or debit card, you could be missing out on hundreds or even thousands of dollars each and every year by not using a top card.
Our experts have sorted through hundreds of credit cards and rated the ones below as top picks for 2024. Some of the below offers include incredible perks, such as:
Great for: Flat-Rate Cash Rewards
Intro APR 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers
Purchases: 0% intro APR, 15 months from account opening
Balance Transfers: 0% intro APR, 15 months from account opening on qualifying balance transfers
Regular APR
Rewards Earn unlimited 2% cash rewards on purchases.
Annual Fee N/A
Welcome Offer Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
This card’s unlimited 2% cash rewards on purchases is the highest we’ve seen for a flat-rate rewards card with no annual fee. It also has an incredibly easy-to-earn $200 welcome bonus and a generous intro APR offer. We simply haven’t come across this combination of top perks in one card before.
The Wells Fargo Active Cash® Card (see rates and fees) has earned a coveted 5-star rating from our experts, and it's easy to see why.
This card offers a best-in-class unlimited 2% cash rewards rate, and would be highly-rated based on that alone. But it also offers two additional highly sought-after features: a hefty $200 cash rewards sign-up bonus after spending $500 on purchases within three months, and a generous 15 months from account opening of 0% intro APR on purchases and qualifying balance transfers (20.24%, 25.24%, or 29.99% Variable APR thereafter). I’ve simply not come across this combination of top perks in one card before.
Add in the fact that you get all of this for $0 annual fee, and this card becomes a no-brainer for many consumers. I don't say this lightly: it's easily one of the best cash rewards cards we've seen.
Great for: Unlimited Cashback Match
Intro APR
Purchases: 0%, 15 months
Balance Transfers: 0%, 15 months
Regular APR
Rewards Earn 5% cash back on everyday purchases at different places you shop each quarter like grocery stores, restaurants, gas stations, and more, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases—automatically.
Annual Fee
Welcome Offer N/A
We think this card has among the highest cash back potential for cards with no annual fee. The key is the Unlimited Cashback Match — Discover automatically matches all the cash back new cardholders have earned at the end of the first year. That cash back can seriously add up when you earn 5% cash back on rotating bonus categories (when you activate them, up to the quarterly maximum) and 1% on other purchases.
Imagine paying no interest into 2025 on purchases and balance transfers and securing a rich sign-up bonus! Both are possible with Discover it® Cash Back . First, you earn 5% cash back on everyday purchases at different places each quarter like grocery stores, restaurants, gas stations up to the quarterly maximum of $1,500 on purchases and when you activate. Other purchases earn 1% cash back.
Best yet, Discover will match all cash back earned in the first year for new cardholders. So what can this actually add up to in the real world? We calculate you can secure $1,306* in the first year from the cards rewards and sign-up bonus - and that might be conservative. Not a bad return on investment for the 2-minute application process!
What's more, enjoy 0% intro APR for 15 months on both purchases and balance transfers. Since the go-to variable rate applies after the intro offer, it's smart to pay off balances before the offer expires. The cash rewards program and 0% intro APR offer alone are best-in-class, but you get both in one card. (See rates and fees.)
Great for: Groceries, Gas, Streaming, and Transit
On American Express' Secure Website.
Terms apply
On American Express' Secure Website.
Terms apply
Intro APR
Purchases: 0%, 12 months
Balance Transfers: 0%, 12 months
Regular APR
Rewards 6% Cash Back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%). 6% Cash Back on select U.S. streaming subscriptions. 3% Cash Back at U.S. gas stations. 3% Cash Back on transit (including taxis/rideshare, parking, tolls, trains, buses and more). 1% Cash Back on other purchases. Cash Back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.
Annual Fee
Welcome Offer Earn a $250 statement credit after you spend $3,000 in eligible purchases on your new Card within the first 6 months.
This card offers market-leading cash back at U.S. Supermarkets. The welcome bonus and intro APR offer just sweeten the deal. Terms apply. If you spend at least $500 per month on groceries (excluding wholesale clubs like Costco), this card is worth considering.
Apply for the Blue Cash Preferred® Card from American Express
Cash back can pile up real quickly with the Blue Cash Preferred® Card from American Express. First, earn market-leading 6% cash back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%). Terms apply. That adds up to $360 cash back if you spend $500 per month at U.S. supermarkets!
It also earns 6% cash back on select streaming services, 3% cash back on U.S. gas stations, and 3% cash back on transit (including trains, rideshares, parking and more). Earn 1% cash back on other purchases.
Yes, there’s a $95 annual fee after the first year (see rates and fees), but the outstanding cash back rates can easily make up for it. Plus, new cardholders currently get a $0 intro annual fee for the first year.
Keep in mind that wholesale clubs (e.g. Costco, Sam's Club) or super-stores with grocery sections (e.g. Target, Walmart) don’t earn the 6% cash back rate. If you do most of your grocery shopping at those stores, then this may not be the best choice.
Apply for the Blue Cash Preferred® Card from American Express
Great for: Flat-Rate Cash Back
On Bank of America's Secure Website.
On Bank of America's Secure Website.
Intro APR 0% Intro APR for 15 billing cycles for purchases. 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days. After the intro APR offer ends, 19.24% - 29.24% Variable APR on purchases and balance transfers will apply. A 3% fee for 60 days from account opening, then 4% fee applies to all balance transfers.
Purchases: 0% Intro APR for 15 billing cycles for purchases
Balance Transfers: 0% Intro APR for 15 billing cycles for any balance transfers made in the first 60 days
Regular APR
Rewards Earn unlimited 1.5% cash back on all purchases.
Annual Fee
Welcome Offer $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening
This is a solid pick for one-card wallet seekers who want a straightforward, unlimited cash back card – plus a strong $200 bonus & 0% Intro APR offer. It’s a particularly good fit for Bank of America Preferred Rewards members, who can earn 25%-75% more points on every purchase, depending on your tier.
Apply now for the Bank of America® Unlimited Cash Rewards credit card
The Bank of America® Unlimited Cash Rewards credit card is a real stand-out for Bank of America banking and investment customers. That's because Preferred Rewards members earn 25% - 75% bonus cash back (depending on your tier). So, if you are a Gold member, you'll earn 1.875% total cash back on purchases. Platinum members will earn 2.25% total unlimited cash back, and Platinum Honors members will earn a whopping 2.625% total cash back rate.
Not a Preferred Rewards member? The baseline unlimited 1.5% cash back rate is still a simple, yet lucrative way to earn cash back on every purchase.
Plus, you can cash in on a $200 bonus offer & enjoy 0% Intro APR for 15 billing cycles on purchases and balance transfers.
Apply now for the Bank of America® Unlimited Cash Rewards credit card
Great for: Unlimited Cash Back with Bonus Categories
On Chase's Secure Website.
On Chase's Secure Website.
Intro APR 0% Intro APR on Purchases and Balance Transfers for 15 months
Purchases: 0% Intro APR on Purchases, 15 months
Balance Transfers: 0% Intro APR on Balance Transfers, 15 months
Regular APR
Rewards Enjoy 5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 1.5% on all other purchases
Annual Fee N/A
Welcome Offer Earn an extra 1.5% on everything you buy (on up to $20,000 spent in the first year) — worth up to $300 cash back. That's 6.5% on travel purchased through Chase Travel℠, 4.5% on dining and drugstores, and 3% on all other purchases.
This card would be highly-rated based on its unlimited 1.5% - 5% cash back rates & 0% Intro APR offer alone. But the innovative sign-up bonus (worth up to $300 cash back) makes it particularly good if this would be your primary credit card. With the bonus, you’ll earn 4.5% cash back on dining and drugstores, 6.5% on travel booked through Chase Ultimate Rewards®, and 3% on all other purchases (on up to $20,000 spent in the first year). After the bonus, you’ll still earn the regular cash back rates on every purchase.
The Chase Freedom Unlimited® card is one of our favorite options if this would be your primary credit card.
First, it has top-notch unlimited cash back rates. At minimum, you’ll earn unlimited 1.5% cash back on purchases. But you’ll also earn unlimited 3% on dining (including takeout and eligible delivery services) & drugstores, and unlimited 5% on travel purchased through Chase Travel.
Even better, new cardholders earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) — that’s worth up to $300 cash back! That equals 4.5% cash back on dining and drugstores, 6.5% on travel booked through Chase Ultimate Rewards®, and 3% on all other purchases (on up to $20,000 spent in the first year).
0% Intro APR for 15 months on purchases and balance transfers is the cherry on top (20.49% - 29.24% Variable APR thereafter).
Credit cards with rewards and 0% intro APR offers are excellent, but remember, they are a tool to help you get the most out of your spending. The Ascent motto to follow:
Follow this and you'll be making your money work overtime for you. Live richly, not risky.
Our Credit Cards Experts
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent, a Motley Fool service, does not cover all offers on the market. The Ascent has a dedicated team of editors and analysts focused on personal finance, and they follow the same set of publishing standards and editorial integrity while maintaining professional separation from the analysts and editors on other Motley Fool brands.
*How to earn $1,306 with the Discover it® Cash Back: You can receive $600 cash back in the first year by maxing out 5% categories. You'll earn $300 in this case, plus $300 from Discover for your cash back match in the first year. You can also earn $706 cash back in the first year in 1% categories — The average American budget* would result in earning $353.45 cash back each year in 1% categories, and Discover will match this amount in the first year for a total amount of $706. This adds up to $1,306 earned in your first year.
*Average American budget per https://www.fool.com/the-ascent/research/average-monthly-expenses/. Includes the following categories earning 1% cash back: utilities and household operations, healthcare, apparel and services, education, vices, miscellaneous, personal care, reading, food, transportation, and entertainment.
For rates and fees for the Blue Cash Preferred® Card from American Express, click here