Best 2% cash-back cards of July 2024
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“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.
BLUEPRINT
Updated 5:00 a.m. UTC July 1, 2024
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Double your spending pleasure with a 2% flat-rate cash back card. These straightforward earners will spare you from tracking category purchases or calculating spending caps to predict your reward earnings. It’s all 2%, all the time.
Plus, many come with generous welcome offers to kickstart your cash-back stash. We reviewed a range of flat-rate rewards cards to curate a list of the top cards offering 2% cash back on every purchase. Here are the best 2% cash-back cards for 2024.
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Wells Fargo Active Cash® Card
- Wells Fargo Active Cash® Card: Best 2% cash rewards card.
- Bread Cashback™ American Express® Card *: Best for no foreign transaction fees.
- Synchrony Premier World Mastercard® *: Best for automatic rewards redemption.
- Citi Double Cash® Card *: Best for balance transfers.
- TD Double Up℠ Credit Card *: Best for travel benefits.
The information for the Bread Cashback™ American Express® Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Why trust our credit card experts
Our team of experts evaluates hundreds of credit cards and analyzes thousands of data points to help you find the best card for your situation. We use a data-driven methodology to determine each rating. Advertisers do not influence our editorial content. You can read more about our methodology below.
- 34+ cards analyzed.
- 10+ data points analyzed.
- 5-step fact-checking process.
Best 2% cash rewards card
Wells Fargo Active Cash® Card
Best for no foreign transaction fees
Bread Cashback™ American Express® Card
*The information for the Bread Cashback™ American Express® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Best for automatic rewards redemption
Synchrony Premier World Mastercard®
*The information for the Synchrony Premier World Mastercard® has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Best for balance transfers
Citi Double Cash® Card
*The information for the Citi Double Cash® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Best for travel benefits
TD Double Up℠ Credit Card
*The information for the TD Double Up℠ Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Compare the best cards
Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
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Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening.This bonus offer will be fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back.
Earn $150 cash back in the form of a statement credit when you spend $1,000 within the first 90 days after account opening.
Why it’s the best
The Wells Fargo Active Cash is our top pick of best 2% cash-rewards cards as it offers a very easy-to-earn cash rewards welcome bonus along with a generous intro APR period for purchases and balance transfers as well as cellphone insurance protection of up to $600 (up to two claims per 12-month period and subject to a $25 deductible). Cardholders also receive an auto rental collision damage waiver when using the card to pay for car rentals.
Pros:
- Low spending requirement to earn the welcome bonus.
- Intro APR for purchases and balance transfers.
- Multiple cash rewards redemption options.
Cons:
- 3% foreign transaction fee for purchases made abroad.
- Limited travel protections.
- No elevated cash-rewards bonus categories.
Card details:
- Annual fee: $0.
- Rewards: 2% cash rewards on purchases.
- Welcome bonus: $200 cash rewards bonus after spending $500 in purchases in the first three months of account opening.
- Foreign transaction fees: 3%.
The information for the Bread Cashback™ American Express® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Why it’s the best
Travelers will appreciate that the Bread Cashback American Express Card (terms apply) doesn’t charge foreign transaction fees for purchases made overseas and comes with secondary car rental insurance¹. Cardholders will also enjoy Entertainment Access for early ticket purchases for concerts, theaters and more, as well as #Amexforfoodies, which offers 20% off participating restaurant visits or a free appetizer.
Pros:
- No foreign transaction fees.
- Car rental loss and damage insurance¹.
- No minimum reward redemption required.
Cons:
- No welcome bonus.
- No intro APR offers.
- Limited rewards redemption options.
Card details:
- Annual fee: $0.
- Rewards: 2% cash back on purchases.
- Welcome bonus: None.
- Foreign transaction fees: None.
The information for the Synchrony Premier World Mastercard® has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Why it’s the best
The Synchrony Premier World Mastercard keeps it simple when it comes to redeeming your cash-back rewards. At the end of each statement billing period, you’ll get a monthly statement credit reflecting what you’ve earned in cash back to apply toward your balance.
Pros:
- Simplified rewards redemption.
- Partner benefits with Instacart, Lyft and Peacock.
- No elevated rewards for other spending categories.
Cons:
- No welcome bonus.
- No intro APR offers.
- Requires excellent credit.
Card details:
- Annual fee: $0.
- Rewards: 2% cash back on purchases.
- Welcome bonus: None.
- Foreign transaction fees: 3% of each transaction.
The information for the Citi Double Cash® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Why it’s the best
The Citi Double Cash offers a very generous intro APR period for balance transfers. There is a balance transfer fee, but if you’re carrying high-interest debt on a non-Citi card that you’d like to get a reprieve on interest charges while you pay it down, moving that balance to the Citi Double Cash can help you do that.
Pros:
- Long intro APR on balance transfers.
- Elevated cash-back rate on hotel and car rentals booked through Citi Travel.
- Various rewards redemption options.
Cons:
- No intro APR on purchases.
- Limited benefits.
- The full cash-back rate is only awarded after payment.
Card details:
- Annual fee: $0.
- Rewards: 2% cash back on purchases — 1% when purchases are made and another 1% when they’re paid off, plus, for a limited time, 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24.
- Welcome bonus: $200 cash back after spending $1,500 on purchases in the first six months of account opening.
- Foreign transaction fees: 3%.
The information for the TD Double Up℠ Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Why it’s the best
TD Double Up offers more robust travel benefits compared to other cards on this list. In addition to car rental discounts and potential upgrades with Avis and Budget, cardholders can rest easy knowing the card offers lost luggage reimbursement, special guest status at Visa Signature Luxury Hotel properties, Roadside Dispatch, travel and emergency assistance and a 24/7 Visa concierge.
Pros:
- No caps on how much cash back you can earn.
- Enhanced travel benefits.
- Cellphone protection.
Cons:
- Card availability is limited to residents in certain states.
- Low welcome bonus.
- Intro APR promotion is limited to just balance transfers.
Card details:
- Annual fee: $0.
- Rewards: 2% cash back on all eligible purchases.
- Welcome bonus: $150 statement credit after spending $1,000 on purchases in the first 90 days of account opening.
- Foreign transaction fees: 3% of each transaction in U.S. dollars.
Methodology
Our credit cards team has spent hours analyzing hundreds of credit cards. We took a deep dive into the details of each product and that analysis, combined with our years of experience covering credit cards, informed us as we developed these credit card rankings. Factors we considered included:
- Annual fee: 5%.
- Foreign exchange fee: 5%.
- Welcome bonus: 32%.
- Annual earnings: 43%.
- Purchase protection: 2%.
- Cellphone insurance: 2%.
- Extended warranty: 2%
- Introductory APR on purchases: 2%.
- Introductory APR on balance transfers: 2%.
- If applying for the card is based on any membership or location requirement: 5%
What does 2% cash back mean?
A credit card offering a 2% flat cash-back rate means that for every purchase you make with the card, you’ll earn 2% in cash-back rewards. For example, if you spend $200 on the card, you’ll get $4 back in rewards. These cards typically don’t impose spending caps on how much cash back you can earn compared to other cash-back cards that offer higher cash-back rates for spending in certain categories, such as groceries or gas.
Cash-back is awarded as strictly cash or as points, which typically carry the same value when redeemed. Some 2% cash-back cards also set a minimum of, say, $25 in cash back earned, before you can redeem it, while others don’t have a minimum redemption amount.
Depending on the card, you’ll be provided with one or more ways to redeem your cash back. The most common redemption option is to apply your cash back earned toward your statement balance, known as a statement credit. Other card issuers provide other redemption options, such as choosing to receive your cash back earned as a check or a deposit into your bank account or using your rewards to purchase gift cards or travel.
Pros and cons of a 2% cash back card
| PROS | CONS |
|---|---|
Simple, easy-to-understand rewards structure
| Other cards may earn higher rates in the areas where you spend the most
|
There’s typically no annual fee
| May have a higher APR than cards that don’t earn rewards
|
Unlimited rewards
| Few, if any, perks like you might find on travel cards
|
Can be paired with another card to maximize earning potential
| Generally requires good or better credit so may be inaccessible to some
|
Comparing the best 2% cash-back cards When deciding which 2% cash-back credit card to apply for, these are some things you should consider:
- Annual fee. Generally, most 2% cash-back cards don’t come with an annual fee.
- Welcome offer. Some 2% cash-back cards come with some type of welcome bonus of several hundred dollars after you meet a certain spending threshold within a specified period of time.
- Intro APR promotions. If you’re looking for a card that waives interest fees for purchases, balance transfers, or both, that will help you narrow down your choices.
- Benefits. If you’re set on having a card that offers certain benefits, such as car rental insurance or cellphone protection coverage, then focus on cards offering those perks.
- Ongoing APR. If you tend to revolve a balance once in a while, avoid cards that come with very high APR ranges as those interest costs will inflate what you owe rather quickly. Also, know that any time you don’t pay your balance in full by the due date, any cash-back rewards you earn will be negated by interest charges.
- Your credit score. Some cash-back cards require applicants to have good to excellent credit scores to qualify. If your credit scores are low, you may need to focus on bringing them up before applying for a new card.
- Rewards redemption options. Read the fine print of the card you’d like to apply for to understand exactly what your options are for redeeming your cash-back rewards.
- Foreign transaction fees. If you plan on traveling abroad, you’ll want to bring along a credit card that doesn’t assess a fee for any purchases you make.
Frequently asked questions (FAQs)
Yes, 2% cash back is a solid flat rewards rate. Higher earning rates are possible if your spending habits fit well into the structure of another rewards card — but a 2% cash-back card is good for a consistent rate on all spending or as a catchall card for purchases that don’t fit into a bonus category on any other rewards cards you carry.
Double cash on a credit card typically means that you will earn 2% cash back on all eligible purchases. The phrase likely originates with the Citi Double Cash, one of the industry’s first and most famous cash-back cards. With the Citi Double Cash, everyday rewards are earned in two steps — 2% cash back on purchases — 1% when purchases are made and another 1% when they’re paid off, plus, for a limited time, 5% total cash back on hotel, car rentals and attractions booked on the Citi Travel℠ portal through 12/31/24.
A 2.5% cash-back card is a type of credit card that gives you 2.5% cash back on eligible purchases. Few cards offer this, and those that do typically maintain a cap on these rewards and may have additional requirements that must be met in order to qualify for the 2.5% rate.
Yes, there are credit cards that offer a 3% cash-back rate on certain types of purchases, but none that offer an unlimited flat 3% cash-back rate for all purchases. For example, the Upgrade Triple Cash Rewards Visa card offers 3% cash back on home, auto and health categories and 1% cash back on all other purchases. All cash back rewards are earned once purchases are paid back.
Yes, a 2% cash-back card that has no spending caps and no annual fee is an easy way to offset the cost of your purchases. Since many 2% cash-back cards tend to apply the same rewards rate to all of your purchases, you won’t have to deal with a complicated tiered rewards rate structure that earns a higher cash-back rate by spending in certain categories, such as groceries, gas or travel.
Yes, there are cards that offer 5% cash back, but these are almost exclusively cards that offer 5% back up to a quarterly maximum in rotating categories and then the earn rate drops to 1%. Examples of this type of card include the Chase Freedom Flex® * The information for the Chase Freedom Flex® has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. which earns 5% cash back on up to $1,500 in categories that rotate quarterly (requires activation), 5% cash back on travel purchased through Chase Travel℠, 3% cash back on dining and drugstores and 1% cash back on all other purchases and the Discover it® Cash Back which earns 5% cash back on purchases at different places each quarter up to $1,500 spent each quarter when activated and 1% cash back on all other purchases.
There are few disadvantages to a cash-back card given that these cards earn you a percentage back on your spending every time. However, if you typically carry a balance, you’d be far better off with a card that has a low, ongoing APR instead of a rewards card as the value of any cash back you’d earn would be outweighed by what you’d pay in interest fees.
¹Eligibility and Benefit level varies by Card. Terms, Conditions and Limitations Apply. Please visit americanexpress.com/benefitsguide for more details. Underwritten by AMEX Assurance Company. Car Rental Loss or Damage Coverage is offered through American Express Travel Related Services Company, Inc.
*The information for the Bread Cashback™ American Express® Card, Chase Freedom Flex®, Citi Double Cash® Card, Synchrony Premier World Mastercard® and TD Double Up℠ Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.
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