5 Credit Cards to Earn More Cash Back in 2024
When I got my first cash back credit card, I was impressed that it earned 1.5% on every purchase. I remember asking my dad if I had to pay taxes on cash back, or if I should be aware of any other strings attached that might yank those rewards right from under me. I just couldn’t believe a credit card company would hand out free money like that.Â
These days, I have a credit card setup that lets me earn nearly 5% back on every purchase. I’m still learning new things weekly (the credit card world is constantly changing). But I know as long as I pay off my credit cards, those rewards are mine fair and square. If you’re not currently earning 5% back on nearly every purchase, here are five credit cards you might want to consider adding to your wallet.Â
1. Discover it® Cash Back
The Discover it® Cash Back earns 5% back on rotating quarterly categories (up to $1,500 spent) that you activate before the quarter begins. In the past, these categories have included groceries, dining out, gas, PayPal purchases, and Amazon.com, among others.Â
What’s more, the Discover it® Cash Back has one of the best sign-up bonuses of any card I’ve seen. Discover will match all the cash back you’ve earned at the end of your first year. That means, if you earned $300 within your first year, Discover would give you another $300 on your card’s anniversary. Not bad for a credit card that charges no annual fee.Â
2. Citi Custom Cash® Card
The Citi Custom Cash® Card earns 5% back on up to $500 in one eligible category from a list of 10. These categories include many that probably take up a big portion of your monthly budget, like groceries, gas, and dining out. If you max out the category, you can earn $25 each month for a total of $300 each year.Â
3. Amex Blue Cash Preferred
The Blue Cash Preferred® Card from American Express is my new favorite grocery card. It earns 6% back at U.S. supermarkets (up to $6,000 per year) and select U.S. streaming subscriptions, 3% back at U.S. gas stations, 3% back on transit, and 1% everywhere else (terms apply). The 6% back at U.S. supermarkets is the best cash back rate I’ve seen for that specific category.Â
The card has a $0 intro annual fee for the first year, then $95. (See rates and fees.) But if you can spend $6,000 at U.S. supermarkets every year, the card will more than pay for its upfront cost.Â
4. Kroger Rewards World Elite Mastercard®Â
This little-known credit card has become a staple in my wallet. And no — I don’t shop frequently at Kroger. Instead, this card functions as a catch-all for purchases that aren’t easy to categorize or don’t qualify for bonus earnings on other cards.Â
The Kroger Rewards World Elite Mastercard® earns 5% cash back on mobile wallet purchases (up to $3,000 each year). It doesn’t matter where the purchase is made. You could buy groceries at Kroger, souvenirs at a beach shack, or a new sound system at a local electronics store. As long as you add this card to your mobile wallet and pay that way, you’ll earn 5% back on up to $3,000 spent each calendar year.Â
The card does other tricks, too, like earn 2% back inside Kroger stores and give you the potential for fuel discounts at Kroger Fuel Centers. But if you want a card that can earn 5% back on nearly everything (up to its rewards cap), this one comes pretty close.Â
5. U.S. Bank Cash+® Visa Signature® Card
The U.S. Bank Cash+® Visa Signature® Card earns 5% back each quarter (on up to $2,000 of quarterly spending in two categories of choice). The list of categories is fairly long and includes cellphone providers, department stores, fast food, gyms, movie theaters, sporting goods stores, among others. It also earns 2% cash back each quarter on your selection of gas, groceries, and dining.Â
The only downside is that you have to activate the 5% category before the quarter begins, which requires some pre-planning. It also has a pretty sweet welcome offer of $250 when you spend $1,000 within 90 days.Â
With the exception of the Amex, these cards are free, thereby helping you maximize cash back. If you don’t have any of them, I’d start with the one that will likely net you the most cash back this year based on your current spending. Work from there, then slowly add each one until your wallet is earning you 5% back on nearly every purchase.Â
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