Genuinely, there used to be only a few cards that paid 2% cash back, with most offering 1% to 1.5%. However, currently, a growing number of credit cards offer 2% cash back or more on every purchase. Thus, how do you determine which 2% cash-back card is best? Here are 5 of the best 2% cash-back credit cards.

Wells Fargo Active Cash® Card
Annual Fee: $0
Regular APR: 16.49%, 21.49%, or 26.49% variable APR
Intro Offer: $200 Cash Rewards
Recommended Credit Score: Excellent, Good (700 – 749)
Why We Selected It
The Wells Fargo Active Cash Card provides a straightforward solution: unrestricted two percent cash back on purchases. This benefit is available even if you do not wish to keep track of spending limits or bonus categories. If you are searching for a cash rewards card with a fixed rate that will be valuable regardless of how your finances fluctuate, it is difficult to find a better option than this card.
- $0 yearly charge
- Receive a $200 cash rewards incentive after spending $1,000 in the first three months
- There are no categories to manage or remember, and cash rewards do not expire as long as the account is active.
- Visa Signature Concierge offers a premium set of privileges at some of the world’s most fascinating and famous hotels.
- When you pay your monthly cellular telephone bill with your Wells Fargo Active Cash® Card, you’ll get up to $600 in coverage against covered damage or theft.
- 0% initial APR for 15 months on purchases and balance transfers, then 16.49%, 21.49%, or 26.49% variable APR; balance transfers are done within 120 days and qualify for the intro rate and charge of 3%. Finally, a BT fee of up to 5%, minimum: $5
Pros
- Offers exceptional short- and long-term value with its cash rewards rate and introductory APR
- No limits on the number of cash rewards you can earn,
- Awards never expire as long as your account remains active.
Cons
- After the first 120 days of account opening, the introductory balance transfer cost will increase from 3% to 5% (minimum: $5).
- The 3 percent international transaction fee could eat cash rewards using this card abroad.
Citi® Double Cash Card
Annual Fee: $0
Regular APR: 16.99% – 26.99% (Variable)
Intro Offer: $200 Cash Back
Recommended Credit Score: Good to Excellent (670 – 850)
Why We Selected It
If you complete your monthly payments on time, the Citi Double Cash Card is one of the best cash back cards available. This card becomes a 2 percent flat-rate cash back card with excellent financial habits, a rarity in the cash back industry.
- An incentive balance transfer fee of 3% of any balance transfer (minimum of $5) made within the first four months of account setup. The cost will be 5% of each transfer, with a minimum of $5.
- Unless you pay your whole balance, including balance transfers, by the due date each month, interest will be imposed on your balance transfers and purchases.
- Transferring a balance does not get cash back. The introductory APR does not apply to purchases.
- This card offers exclusive Balance Transfers. The variable APR will range between 16.99% and 26.99% based on your creditworthiness.
- For a limited period, receive $200 cash back after spending $1,500 in the first six months after account opening.
- You can get 2% cash back on every transaction, plus an additional 1% while you pay for your goods.
Pros
- No category spending constraints or category rotation
- You can convert your cash back earnings to Citi ThankYou points, which can be redeemed for travel, gift cards, and more.
Cons
- The spending criteria for the sign-up bonus are greater than many no-annual-fee cash back cards.
- This card’s benefits can expire if it is unused for a year.
Fidelity® Rewards Visa Signature® Credit Card
Annual Fee: $0
Regular APR: 14.74% variable
Intro Offer: N/A
Recommended Credit Score: Good to Excellent (670 – 850)
Why We Selected It
The Fidelity Rewards Visa Signature card is a terrific alternative for individuals who want an easy way to earn cash back on all credit card purchases and who have or plan to open a Fidelity account. The 2% earning rate is one of the highest flat-rate rewards programs any credit card offers.
- It offers unlimited cash back of 2%.
- This card provides Visa Signature® Concierge.
- You can receive accommodation and transportation discounts, a guarantee of the best available rate, beverage credits, and special offers at premium stores.
- This card offers signature travel and shopping.
- You may rest assured that you won’t be held liable for charges you didn’t authorize.
- It provides zero fraud liability.
- An annual Fee is not needed.
- Reward points will not expire.
- There are no limits on the overall number of Reward Points and no limiting categories.
- Every eligible dollar net spends two reward points.
PayPal Cashback Mastercard®
Annual Fee: $0
Regular APR: 17.24% – 29.24% Variable
Intro Offer: N/A
Recommended Credit Score: Good to Excellent (670 – 850)
Why We Selected It
The PayPal Cashback Mastercard® enables you to earn up to 3% cash back on purchases, redeemable immediately into your PayPal account. It is a low-limited option with no sign-up bonus, introductory APR, and almost no card features. Given the absence of an annual fee, this is an exceptional cash back credit card, provided you do not mind receiving rewards in the form of PayPal credits.
- You can use your PayPal Cashback Mastercard wherever Mastercard is accepted to make purchases. There are no buy limitations.
- EMV Chip Technology makes purchasing at chip-enabled terminals worldwide more secure.
- You must have a PayPal account to apply for the PayPal Cashback Mastercard.
- Cash awards do not expire, and there are no maximum earnings limits.
- There is no redemption minimum.
- You can receive 3% cash back on purchases made using PayPal and 2% cash back on all other transactions.
- There is no annual fee.
Alliant Cash Back Visa Signature Credit Card
Annual Fee: $0
Regular APR: 13.74% – 23.74% variable
Intro Offer: N/A
Recommended Credit Score: Excellent (750 – 850)
Why We Selected It
If you frequently maintain a monthly balance, the Alliant card’s 2.5% return is difficult to better. Before applying for this card, a high credit score is suggested. Nevertheless, there is no welcome bonus.
- This card offers Personal Identity Theft Protection of up to $5,000 for covered expenditures to recover your identity.
- You can receive cash back from your Alliant credit card as a credit on your credit card statement or as a deposit into your Alliant checking or savings account.
- A minimum of $25 per transaction is required to redeem cash back.
- With qualified accounts, earn up to 2.5% cash back on up to $10,000 in purchases per billing cycle with no categories to track. Other purchases accrue a 1.5% discount.
- When you use your Alliant Signature card to pay for your trip, you will receive $250,000 in travel accident insurance.
Conclusion
In short, not every 2% cash back card is similar. Some offer greater restrictions on redemptions, while others require a partner account to apply. Therefore, before signing up for a credit card that offers 2% or more back on every dollar spent, be careful to read the fine print so that you can choose the card that best corresponds with how you are likely to spend and use your rewards.
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Read more: Popular Credit Cards
Source: Bankrate