Best 5% Cash-Back Cards (Or More) Of May 2024

Amazon Prime members will almost certainly want to take a look at the Prime Visa credit card. Cash-back rewards are unlimited and can be redeemed at Amazon.com as soon as the next day.

Who it’s best for: The Prime Visa is best for Prime members hunting for the highest cash-back rates anywhere on Amazon purchases.

Rewards: Earn 5% back on purchases at Amazon.com, Amazon Fresh, Whole Foods Market and on Chase Travel purchases with an eligible Prime membership, 2% back at gas stations, restaurants and on local transit and commuting (including rideshare), and 1% back on other purchases.

Welcome offer: Earn a $100 Amazon gift card upon approval with an eligible Prime membership.

Annual fee: $0

Other benefits and drawbacks: Though the card itself has no annual fee, to earn 5% cash-back rewards, you’ll need to have a valid Amazon Prime account, which comes with a separate membership fee. If you’re paying for Prime anyway, that’s a moot point. Rewards are available for easy redemption on Amazon purchases, but cash back, gift cards and other redemptions are also available if you prefer some flexibility. Small business owners may be interested in the Amazon Business Prime American Express Card*.

The Chase Freedom Flex℠* is Chase’s credit card offering quarterly rotating 5% spending categories. Historically, categories have included gas stations, wholesale clubs, home improvement stores, Walmart and PayPal.

Who it’s best for: Chase Freedom Flex℠* is best for Chase Ultimate Rewards® fans who don’t mind keeping track of rotating 5% categories that change each quarter.

Rewards: Earn 5% cash back on up to $1,500 in combined purchases 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.

Welcome offer: Earn a $200 bonus after spending $500 on purchases in the first 3 months from account opening.

Annual fee: $0

Other benefits and drawbacks: The card rewards 5% cash back on up to $1,500 in combined purchases 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. Card members must activate each quarterly bonus manually, but Chase offers to send card members a reminder email to activate their quarterly 5% cash-back promotion with one click.

The Citi Custom Cash® Card offers a different approach to a 5% cash-back card, offering card members the highest levels of return where they spend the most.

Who it’s best for: The Citi Custom Cash® Card is best for individuals who want bonus cash back rewards that adjust with their spending habits.

Rewards: Earn 5% cash back on purchases in a top eligible spend category up to the first $500 spent each billing cycle, 4% cash back on hotels, car rentals, and attractions booked on Citi Travel℠ portal through 6/30/2025 and 1% cash back on all other purchases.

Welcome offer: Earn $200 in cash back after spending $1,500 on purchases in the first 6 months of account opening. The bonus points come in the form of 20,000 ThankYou® Points that can be redeemed for $200 cash back.

Annual fee: $0

Other benefits and drawbacks: Unlike many of the other 5%-back cards, you are neither restricted to a handful of categories during a quarter nor do you have to activate your quarterly 5% cash-back promotion. The 5% cash-back rate is granted automatically up to the bonus-earning limit each billing cycle for whichever eligible category you’ve spent the most during your statement cycle and it can change month to month.

Eligible categories include restaurants, gas stations, grocery stores, select travel, select transit, select streaming services, drugstores, home improvement stores, fitness clubs and live entertainment.

The Discover it® Cash Back card earns 5% cash back on everyday purchases at different places each quarter up to a quarterly maximum of $1,500 in spending when activated. Plus, earn unlimited 1% cash back on all other purchases – automatically. Like the Chase Freedom Flex℠*, card members must activate their quarterly cash-back bonus categories, but this can be done through Discover’s website with one click.

Who it’s best for: The Discover it® Cash Back is great for consumers looking for a large cash-back welcome bonus.

Rewards: Earn 5% cash back on everyday purchases at different places each quarter up to a quarterly maximum of $1,500 in spending when activated. Plus, earn unlimited 1% cash back on all other purchases – automatically.

Welcome offer: Discover will automatically match all the cash back earned at the end of the first year as a cardmember. There's no minimum spending or maximum rewards.

Annual fee: $0

Other benefits and drawbacks: The Discover it® Cash Back card comes with a unique feature called Cashback Match™, which automatically matches all cash back earned during the first year for new card members. If you fully utilize the 5% cash-back categories each quarter, you could earn up to $600 in cash back during your first year of holding the Discover it® Cash Back card from the bonus categories and match alone.

If you spend heavily at grocery stores, consider the Blue Cash Preferred® Card from American Express (terms apply, see rates & fees). If you maximize your bonus cash-back earnings from grocery store and streaming spending, you’ll earn $360 in cash back, which more than pays for this card’s annual fee.

Who it’s best for: The Blue Cash Preferred® Card from American Express is the card for savvy grocery shoppers who want to earn the most rewards from food purchases.

Rewards: Earn 6% cash back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%), 6% cash back on select U.S. streaming subscriptions, 3% cash back at U.S. gas stations and on transit (including taxis/rideshare, parking, tolls, trains, buses and more) and 1% cash back on other eligible purchases. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or at Amazon.com checkout.

Welcome offer: Earn a $250 statement credit after spending $3,000 in purchases within the first 6 months.

Annual fee: $0 intro annual fee for the first year, then $95

Other benefits and drawbacks: In addition to the card’s elevated earning rates on everyday spending, it also carries a number of benefits, including return protection¹ and car rental loss and damage insurance². The card also offers statement credits toward select eligible charges for the Disney Bundle and Equinox+ subscriptions with enrollment, which combined add up to more than $200 in value each year.

With a limited selection of categories to choose from, the U.S. Bank Cash+® Visa Signature® Card earns 5% back in two eligible categories of your choice.

Who it’s best for: The U.S. Bank Cash+® Visa Signature® Card is a home run for individuals who want customizable cash-back rewards.

Rewards: Earn 5% cash back on prepaid air, hotel and car reservations booked directly in the Rewards Travel Center, 5% cash back on your first $2,000 in combined eligible purchases each quarter on two categories of choice, 2% cash back on one everyday category such as gas stations, grocery stores or restaurants, and 1% cash back on all other eligible purchases.

Welcome offer: Earn a $200 rewards bonus after spending $1,000 on eligible purchases within the first 120 days of account opening.

Annual fee: $0

Other benefits and drawbacks: Cardholders choose from a list of the following categories to earn 5% cash back on the first $2,000 in eligible purchases each quarter:

• TV, internet and streaming services
• Fast food
• Cellphone
• Department stores
• Home utilities
• Select clothing stores
• Electronics stores
• Sporting goods stores
• Movie theaters
• Gyms/fitness centers
• Furniture stores
• Ground transportation

The Cash+ Visa is a convenient option for consumers who want to charge all their monthly bills to one card and earn bonus rewards, particularly on services like TV, internet, streaming, cellphone providers and home utilities. However, it doesn’t offer many additional benefits beyond minor convenience perks.

The U.S. Bank Shopper Cash Rewards® Visa Signature® Card* offers an extraordinary rewards rate for those who frequent select retail outlets. It features an industry-leading bonus reward rate at two merchants chosen by the cardholder every three months. Although there are few extra amenities, the rewards make it a great choice for avid shoppers.

Who it’s best for: The U.S. Bank Shopper Cash Rewards® Visa Signature® Card* is ideal for consumers who want to choose where they earn the most cash back.

Rewards: Earn 6% cash back each quarter on combined eligible purchases from two retailers of choice ($1,500 limit), 5.5% cash back on prepaid car and hotel reservations booked through the Rewards Center, 3% cash back each quarter in one everyday category of choice ($1,500 limit) and 1.5% cash back on everything else.

Welcome offer: Earn $250 after spending $2,000 in eligible purchases within the first 120 days of account opening.

Annual fee: $0 intro annual fee for the first year, then $95

Other benefits and drawbacks: The card does charge an annual fee, but you’ll get a break in the beginning: $0 intro annual fee for the first year, then $95, so be sure that the rewards will be worthwhile before applying.

The list of stores eligible for selection has included:

• Ace Hardware®
• Apple®
• Amazon.com®
• Anthropologie®
• Best Buy®
• Chewy.com®
• Crate and Barrel™
• Disney®
• Home Depot®
• Ikea®
• Kohl’s®
• Lowe’s®
• Lululemon®
• Macy’s™
• Menards®
• Nordstrom™
• Pottery Barn®
• QVC®
• Restoration Hardware™
• Target®
• Walmart®
• Wayfair.com
• Williams Sonoma®

If your preferred general merchandise retailer is Walmart, consider picking up the Capital One Walmart Rewards® Mastercard®*, which earns at a solid rate for Walmart purchases and includes a respectable welcome offer.

Who it’s best for: The Capital One Walmart Rewards Card offers the best cash-back rates for frequent Walmart shoppers.

Rewards: Earn 5% cash back on purchases made at Walmart.com and the Walmart app, including grocery pickup and delivery, 2% cash back on restaurants and travel, and at Walmart Stores, Walmart & Murphy USA fuel stations and 1% back everywhere else.

Welcome offer: Earn 5% cash back on purchases made in Walmart stores for the first 12 months of account opening when using the Capital One Walmart Rewards card with Walmart Pay.

Annual fee: $0

Other benefits and drawbacks: In addition to the Walmart card’s lucrative earning rate, it carries no annual fee and offers $0 fraud liability if the card is lost or stolen. Points can be redeemed for cash back, gift cards and even travel purchases made on the card.

If you qualify for USAA membership, you have another 5% cash-back credit card option available: the USAA Cashback Rewards Plus American Express® Card*. This card offers elevated earn rates in popular categories and military base purchases. The card carries no annual fee.

Who it’s best for: The USAA Cashback Rewards Plus American Express® Card* is a solid choice for veterans and their families thanks to its high cash-back rates at gas stations and military bases and its travel protections.

Rewards: Earn 5% cash back on the first $3,000 in combined gas and military base purchases yearly, 2% cash back on the first $3,000 in grocery purchases yearly and 1% cash back on all other purchases.

Welcome offer: This card does not offer a welcome bonus.

Annual fee: $0

Other benefits and drawbacks: For USAA members who qualify for this card, you can enjoy a suite of travel protections usually only available on costly premium credit cards, including auto rental coverage, travel accident insurance, trip cancellation and interruption coverage and baggage delay and reimbursement. The card also offers a 17.15% - 31.15% variable APR on purchases and balance transfers. 0% Introductory APR for 15 billing cycles for any balance transfers made in the first 90 days. A balance transfer fee of 5% of the amount of each transfer applies.

USAA membership is open to current and former military and their spouses. Children of USAA members are also eligible to join.

The Target RedCard™ Credit Card* is not a traditional 5% credit card. Rather than offering cash back, the card offers a 5% discount on purchases online and in-store.

Who it’s best for: The Target RedCard™ Credit Card* is best for devoted Target fans who want to save money on store purchases.

Rewards: Earn 5% off on purchases at Target in store or online purchases.

Welcome offer: $50 credit towards a qualifying purchase of $50 or more upon approval for the card.

Annual fee: $0

Other benefits and drawbacks: In addition to an unlimited 5% discount at Target, the card offers additional perks for Target shoppers, including free shipping on most items sold through Target.com, an additional 30 days of return time and periodic exclusive offers. The discount also applies to specialty gift cards for travel, restaurants, movie tickets and more.

Target also offers a debit card version of the Red Card, which also features a 5% discount on Target.com purchases.