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Not every part in life must be difficult, particularly in terms of finance. Whereas rewards bank cards that earn factors or miles and supply rewards in several bonus classes may be profitable, many individuals want the simplicity and consistency of flat-rate money again playing cards.
Whether or not most of your purchases fall outdoors the standard bank card bonus classes otherwise you’re uninterested in making an attempt to recollect which card rewards what, flat-rate bank cards are nice for individuals who wish to hold incomes and redeeming rewards easy.
There are lots of flat-rate playing cards accessible at numerous credit score ranges, however the most effective playing cards supply 2 % money again as a substitute of the standard 1.5 % again. Some playing cards even have extra advantages, together with journey perks and purchasing protections.
Listed below are a few of the greatest 2 % money again bank cards available on the market.
Evaluating the most effective 2 % money again playing cards
| Card title | Finest for | Money again highlights | Welcome supply | Bankrate rating |
|---|---|---|---|---|
| Wells Fargo Energetic Money® Card | General |
|
Earn a $200 money rewards bonus after spending $500 in purchases within the first 3 months | 4.3 |
| Citi Double Money® Card | Pairing |
|
Earn $200 money again after you spend $1,500 on purchases within the first 6 months of account opening. This bonus supply shall be fulfilled as 20,000 ThankYou® Factors, which may be redeemed for $200 money again. | 4.2 |
| Improve Money Rewards Elite Visa® | Lengthy-term financing |
|
$200 bonus after opening a Rewards Checking Plus account and making 3 debit card transactions* | 4.2 |
| Ally Limitless Money Again | Ally Financial institution clients |
|
N/A | 3.4 |
| Alliant Cashback Visa® Signature Card | Excessive flat price |
|
N/A | 3.9 |
| Apple Card | Apple clients |
|
N/A | 3.5 |
High 2 % money again playing cards
How to decide on the most effective 2 % money again card for you
Whereas the rewards charges on these playing cards could also be related, every of those 2 % flat-rate playing cards comes with distinctive perks, benefits and downsides. Listed below are some questions to bear in mind when evaluating playing cards and planning tips on how to maximize your flat-rate money again card:
What’s the welcome bonus?
Welcome bonuses may be arduous to return by on 2 % money again playing cards, so playing cards that supply them are at a definite benefit. Whereas the presence of a bonus shouldn’t be the one motive you decide one card over one other, take into account the outsized worth of those gives: You may sometimes earn round $200 as a part of a sign-up bonus after solely a $500 to $1,500 spend, which could be a nice perk so long as you don’t overspend.
Since welcome bonuses are often solely accessible for the primary two to 4 months, make sure that it’s achievable within the given time restrict and also you don’t should stretch your price range to meet it.
What are the perks?
This can most likely be a very powerful a part of selecting between flat-rate playing cards. Together with incomes money again, the most effective 2 % money again playing cards include further advantages and protections, together with perks like buy safety, meals supply subscription credit, cellular phone insurance coverage and extra. As you’re contemplating which card is greatest for you, think about which perks could be most helpful to you, whether or not they give attention to journey, purchasing, credit score constructing and extra.
How can I redeem rewards?
When you could earn money again on the identical price, the potential worth of your rewards can range, particularly when factoring within the totally different redemption strategies. Whereas some 2 % money again playing cards solely allow you to go for money again redemptions within the type of assertion credit or direct deposits, others provide the flexibility to redeem for journey, reward playing cards, on-line purchasing and extra. The hot button is how a lot worth you get to your rewards with totally different redemption strategies.
For instance, your rewards could lose a whole lot of worth in the event you go for reward card or on-line purchasing redemptions as a substitute of money again. Alternatively, it’s possible you’ll get extra worth to your rewards in the event you pair your money again card with a higher-tier rewards card and redeem for journey (as within the Chase Trifecta).
You may additionally face redemption limitations. Some playing cards solely can help you redeem for money again after you’ve reached a sure rewards steadiness or solely in sure increments. You’ll have to think about these restrictions to resolve whether or not a card is price it.
What’s subsequent?
Use these Bankrate instruments that can assist you discover a card that fits your wants greatest.
Steadily requested questions
The underside line
In the event you’re searching for a easy option to earn a excessive rewards price on all of your purchases, you may have extra choices than ever, together with playing cards that carry sign-up bonuses, intro APR gives or low charges. Simply you’ll want to think about all the main points to seek out the fitting one for you. You may also use Bankrate’s CardMatch instrument to seek out the most effective 2 % flat-rate card primarily based in your credit score profile.
When selecting the most effective 2 % money again card for you, think about elements akin to welcome bonuses, perks and redemption choices. With the rising reputation of those playing cards, it’s essential to fastidiously evaluate all the main points to seek out the fitting one to your monetary wants.
*All details about the Alliant Cashback Visa Signature Credit score Card, Apple Card and Ally Limitless Money Again Mastercard has been collected independently by Bankrate and has not been reviewed or authorized by the issuer.
