Best Cash Back Credit Cards of August 2024

Cash back credit cards are an excellent way to earn rewards on everyday expenses, providing a practical and straightforward benefit for cardholders. As inflation continues to affect prices, having a cash back card can help offset some of the costs by rewarding you for your purchases. This article will cover the top cash back credit cards available in August 2024, with detailed information on their features, benefits, and how they can fit your spending habits.

Top Cash Back Credit Cards

Discover it® Cash Back

Best Feature: Cash back on everyday purchases.
Credit Needed: Excellent, Good (670-850)
Intro Bonus: Discover will match all the cash back you’ve earned at the end of your first year.
Annual Fee: $0
Regular APR: 18.24% – 28.24% Variable APR
Benefits:

• 5% cash back on rotating categories each quarter, up to the quarterly maximum, when you activate.
• 1% cash back on all other purchases.
• No annual fee and a generous intro APR offer.
• Access to free FICO® Credit Scores.

Citi Double Cash® Card

Best Feature: 18-month 0% introductory rate on balance transfers.
Credit Needed: Excellent, Good, Fair (580-850)
Intro Bonus: Earn $200 cash back after spending $1,500 in the first 6 months.
Annual Fee: $0
Regular APR: 19.24% – 29.24% Variable
Benefits:

• 2% cash back: 1% when you buy and 1% as you pay.
• No category restrictions or caps.
• No annual fee.

Chase Freedom Unlimited®

Best Feature: Flexible cash back rewards.
Credit Needed: Excellent, Good (670-850)
Intro Bonus: 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.
Annual Fee: $0
Regular APR: 20.49% – 29.24% Variable
Benefits:

• 6.5% on travel purchased through Chase Travel℠, 4.5% on dining and drugstores, and 3% on all other purchases during the first year.
• No annual fee and access to Chase Ultimate Rewards.

Blue Cash Everyday® Card from American Express

Best Feature: Cash back on everyday purchases.
Credit Needed: Good, Excellent (670-850)
Intro Bonus: Earn a $200 statement credit after spending $2,000 in purchases within the first 6 months.
Annual Fee: $0
Regular APR: 19.24% – 29.99% Variable
Benefits:

• 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases).
• 2% cash back at U.S. gas stations and select U.S. department stores.
• Access to American Express offers and benefits.

Capital One Quicksilver Cash Rewards Credit Card

Best Feature: 1.5% flat-rate cash back on purchases.
Credit Needed: Excellent, Good (670-850)
Intro Bonus: One-time $200 cash bonus after spending $500 on purchases within 3 months of account opening.
Annual Fee: $0
Regular APR: 19.99% – 29.99% Variable
Benefits:

• Unlimited 1.5% cash back on every purchase, every day.
• No annual fee and no foreign transaction fees.

How to Maximize Cash Back Rewards

To get the most out of your cash back credit cards, align your spending habits with the rewards categories offered by the card. For example, if you spend heavily on groceries, a card offering a high cash back rate on supermarket purchases would be ideal. Additionally, taking advantage of introductory offers and rotating categories can significantly boost your rewards.

FAQs

1. What is the best cash back credit card?
   • The best cash back credit card depends on your spending habits. For everyday purchases, the Discover it® Cash Back and Chase Freedom Unlimited® are popular choices.
2. How does cash back work on credit cards?
   • Cash back credit cards offer a percentage of your spending back as rewards. This cash back can usually be redeemed as a statement credit, check, or direct deposit.
3. Do cash back rewards expire?
   • Some cash back rewards do expire if your account is inactive for a certain period, while others do not expire as long as the account is open. Check the terms and conditions of your card.
4. Are there any fees associated with cash back cards?
   • Many cash back cards have no annual fee, but some may charge fees for balance transfers, cash advances, or foreign transactions. Always read the terms and conditions.
5. Can I combine cash back rewards from different credit cards?
   • Typically, cash back rewards are not combinable across different issuers. However, you can strategically use multiple cards to maximize rewards across different categories.

For more detailed information and to compare the best cash back credit cards, visit U.S. News Cash Back Cards.

By understanding the different types of cash back credit cards and aligning them with your spending habits, you can maximize your rewards and make the most out of every purchase. Apply for the card that best fits your lifestyle and start earning cash back today!