Should I get a cash back card or a travel card?

The right credit card for you will depend on your spending habits and the perks that matter most to you. Travel cards are great for people who know they want to redeem rewards for travel expenses like airline and hotel bookings. Travel cards also make sense if you want perks like hotel or airline elite status, free checked bags, free hotel stays or airport lounge access.Cash back cards can be simpler to use and offer more flexibility in how you can earn and redeem rewards, with some allowing you to use rewards for cash back, travel spending and more. If you don’t travel often enough to justify an annual fee or want more redemption flexibility, a cash back card may be better for travel.

Do cash back cards actually give you cash?

You may not receive cold, hard cash, but issuers offer redemption options like a direct deposit into a checking account, mailed checks, statement credits or gift cards. Perhaps the closest you can get to redeeming rewards for physical cash is through a Wells Fargo card that allows you to redeem for cash withdrawals at eligible ATMs.

Is cash back from a credit card taxable?

Generally, the cash back earned with a credit card is not considered taxable income. Learn more about what credit card rewards can be considered taxable.

Does cash back expire?

Many cards offer cash back rewards that never expire, as long as your account remains open and in good standing. However, not every issuer has this policy, so it’s best to check the terms and conditions before applying.

Should I save up cash back rewards?

It depends on how you plan to redeem your rewards. If you plan to deposit your cash rewards into a high-yield savings account, it's best to redeem often so that you don't lose out on interest. However, if you prefer to use your rewards for travel, you might save up your rewards to help cut future travel costs. In fact, your cash back might be worth more if you redeem through an issuer's travel portal, like Chase Ultimate Rewards. To maximize your earnings, check your issuer's redemption options and be strategic in how and when you redeem.

Are cash back credit cards worth it?

Yes, a cash back credit card is flexible and valuable enough to be worth a spot in most wallets. However, there are a few cash back credit card alternatives that might be just as valuable depending on your needs. Here’s a few alternatives and how they may differ. Cash back vs. rewards credit cards: A rewards credit card earns points or miles instead of cash back. You can redeem these points in various ways, including gift cards, travel and statement credits, which can grant them even more flexibility than a cash back card. A few point-based rewards programs let you redeem for cash back at an equal value and still allow you to maximize your points’ travel value with transfer partners. Cash back vs. travel credit cards: Travel credit cards typically earn miles instead of cash back, and are best if you want to redeem your rewards for flights and hotel stays. However, travel miles often lose value when redeemed toward cash back. Frequent travelers can take advantage of a travel card’s additional benefits to cut down on travel costs. You can choose from general travel credit cards, airline credit cards and hotel credit cards.

16 Best cash back credit cards for October 2024

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Updated October 10, 2024

Advertiser Disclosure: The listings that appear on the website are from credit card companies from which Bankrate receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This site does not include all credit card companies or all available credit card offers. Here's an explanation for and how we rate our cards.

Best for flat-rate rewards: Wells Fargo Active Cash® Card
Best for dining: Capital One SavorOne Cash Rewards Credit Card
Best for groceries: Blue Cash Preferred® Card from American Express
Best for rotating categories: Discover it® Cash Back
Best for stacking: Citi Custom Cash® Card
Best for online shopping: Blue Cash Everyday® Card from American Express
Best for flexibility: Bank of America® Customized Cash Rewards credit card
Best for cash back beginners: Synchrony Premier World Mastercard®
Best for balance transfers: Citi Double Cash® Card
Best for quarterly customizable categories: TD Cash Credit Card
Best for everyday spending: Chase Freedom Unlimited®
Best for Bank of America customers: Bank of America Unlimited Cash Rewards Credit Card
Best for simplicity: Capital One Quicksilver Cash Rewards Credit Card
Best for low APR: USAA Preferred Cash Rewards Credit Card
Best for TD Bank customers: TD Double UpSM Credit Card
Best for personal loan alternative: Upgrade Cash Rewards Elite Visa®

16 Best cash back credit cards for October 2024

Written by

Edited by

Reviewed by

Edited by

Reviewed by

Updated October 10, 2024

Best for flat-rate rewards: Wells Fargo Active Cash® Card
Best for dining: Capital One SavorOne Cash Rewards Credit Card
Best for groceries: Blue Cash Preferred® Card from American Express
Best for rotating categories: Discover it® Cash Back
Best for stacking: Citi Custom Cash® Card
Best for online shopping: Blue Cash Everyday® Card from American Express
Best for flexibility: Bank of America® Customized Cash Rewards credit card
Best for cash back beginners: Synchrony Premier World Mastercard®
Best for balance transfers: Citi Double Cash® Card
Best for quarterly customizable categories: TD Cash Credit Card
Best for everyday spending: Chase Freedom Unlimited®
Best for Bank of America customers: Bank of America Unlimited Cash Rewards Credit Card
Best for simplicity: Capital One Quicksilver Cash Rewards Credit Card
Best for low APR: USAA Preferred Cash Rewards Credit Card
Best for TD Bank customers: TD Double UpSM Credit Card
Best for personal loan alternative: Upgrade Cash Rewards Elite Visa®

Compare Bankrate's top cash back credit cards

Card name	Best for	Cash back highlights	Welcome offer	Annual fee	Bankrate review score
Wells Fargo Active Cash® Card	Flat-rate rewards	2% cash rewards on purchases	Intro Offer: $200 cash rewards Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months Regular APR: 19.74%, 24.74%, or 29.74% Variable APR	$0	4.3 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. (Read card review) Apply now on Wells Fargo's secure site See Rates & Fees
Capital One SavorOne Cash Rewards Credit Card	Dining	3% cash back on dining, entertainment, popular streaming service and grocery store purchases (excluding Walmart® and Target®)	Intro Offer: $200 Earn a one-time $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening Regular APR: 19.99% - 29.99% (Variable)	$0	5.0 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. (Read card review) Apply now on Capital One's secure site See Rates & Fees
Blue Cash Preferred® Card from American Express	Groceries	6% cash back at U.S. supermarkets (up to $6,000 per year, 1% after) 3% cash back at U.S. gas stations and on transit (including taxis, rideshares, parking and more)	Intro Offer: Earn $250 Earn a $250 statement credit after you spend $3,000 in eligible purchases on your new Card within the first 6 months. Regular APR: 18.74%-29.74% Variable	$0 intro annual fee for the first year, then $95.	4.4 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. (Read card review) Apply now on American Express's secure site See Rates & Fees , Terms Apply
Discover it® Cash Back	Rotating categories	5% cash back on rotating categories (on up to $1,500 in purchases each quarter, then 1% back, activation required)	Intro Offer: Cashback Match Intro Offer: Unlimited Cashback Match for all new cardmembers – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300. Regular APR: 17.74% - 27.74% Variable APR	$0	4.4 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. (Read card review) Apply now on Discover's secure site See Rates & Fees
Citi Custom Cash® Card	Stacking	5% cash back on your top eligible category purchases each billing cycle (up to $500, then 1% cash back)	Intro Offer: $200 Earn $200 in cash back after you spend $1500 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. Regular APR: 18.74% - 28.74% (Variable)	$0	4.4 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. (Read card review) Apply now on Citi's secure site See Rates & Fees
Blue Cash Everyday® Card from American Express	Online shopping	3 percent cash back at U.S. supermarkets, gas stations and online retail purchases (up to $6,000 per calendar year in each category)	Intro Offer: Earn $200 Earn a $200 statement credit after you spend $2,000 in purchases on your new Card within the first 6 months. Regular APR: 18.74%-29.74% Variable	$0	4.6 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. (Read card review) Apply now on American Express's secure site See Rates & Fees , Terms Apply
Bank of America® Customized Cash Rewards credit card	Flexibility	3% cash back in one of six choice categories 2% cash back at grocery stores and wholesale clubs (up to $2,500 in combined 2% and 3% purchases each quarter, then 1%) 25% to 75% rewards rate boost for Preferred Rewards members	Intro Offer: $200 $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening. Regular APR: 18.74% - 28.74% Variable APR on purchases and balance transfers	$0	4.3 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. (Read card review) Apply now on Bank of America's secure site
Synchrony Premier World Mastercard®	Cash back beginners	2% cash back on eligible purchases	Intro Offer: N/A Regular APR: 19.24% - 34.99% Variable APR as of April 30, 2024	$0	2.6 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. (Read card review) Apply now on Synchrony's secure site
Citi Double Cash® Card	Balance transfers	Up to 2% cash back on purchases (1% when you purchase and 1% when you pay)	Intro Offer: $200 cash back 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. Regular APR: 18.74% - 28.74% (Variable)	$0	4.1 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. (Read card review) Apply now on Citi's secure site See Rates & Fees
TD Cash Credit Card	Quarterly customizable categories	Unlimited 3% and 2% cash back in two categories: dining, entertainment, gas, grocery stores and travel 1% cash back on all other purchases	Intro Offer: $150 Cash Back Earn $150 Cash Back when you spend $1,000 on eligible purchases within the first 90 days of opening your account. Regular APR: 20.24%, 25.24% or 30.24% variable APR based on your creditworthiness.	None	4.0 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. (Read card review) Apply now on TD Bank's secure site See Rates & Fees
Chase Freedom Unlimited®	Everyday spending	5% cash back on Lyft purchases (through March 2025) and travel booked through Chase Travel 3% cash back on dining at restaurants and drugstore purchases 1.5% cash back on all other purchases	Intro Offer: Up to $300 cash back 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. That’s 6.5% on travel purchased through Chase Travel℠, 4.5% on dining and drugstores, and 3% on all other purchases. Regular APR: 20.49% - 29.24% Variable	$0	4.8 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. (Read card review) Apply now on Chase's secure site
Bank of America® Unlimited Cash Rewards credit card	Bank of America customers	1.5% cash back on eligible purchases 1.87% to 2.62% cash back for Preferred Rewards members	Intro Offer: $200 $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening. Regular APR: 18.74% - 28.74% Variable APR on purchases and balance transfers	$0	3.8 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. (Read card review) Apply now on Bank of America's secure site
Capital One Quicksilver Cash Rewards Credit Card	Simplicity	1.5% cash back on purchases	Intro Offer: $200 Earn a one-time $200 cash bonus after you spend $500 on purchases within 3 months from account opening Regular APR: 19.99% - 29.99% (Variable)	$0	3.8 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. (Read card review) Apply now on Capital One's secure site See Rates & Fees
USAA Preferred Cash Rewards Credit Card	Low APR	1.5% cash back on purchases	Intro Offer: Earn a $200 reward bonus Earn a $200 reward bonus when you spend $1,000 on qualifying purchases within 90 days of account opening. Regular APR: 17.15% to 29.15% variable	$0	3.1 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. (Read card review) Apply now on USAA's secure site See Rates & Fees
TD Double Up Credit Card	TD Bank customers	2% cash back on all eligible purchases	Intro Offer: $150 Cash Back Bonus 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 Regular APR: 20.24%, 25.24% or 30.24% variable APR based on your creditworthiness.	None	4.0 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards.