Best Cash-Back Credit Cards With No Annual Fee Of May 2024

The Chase Freedom Flex℠ is a solid choice for almost anyone looking to earn cash back due to its valuable rewards and robust spending categories.

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 $200 bonus after spending $500 on purchases in the first 3 months from account opening.

Annual fee: $0

Other benefits and drawbacks: The Chase Freedom Flex℠ also offers various travel and consumer benefits including trip cancellation and interruption insurance, secondary auto rental collision damage coverage, purchase protection, extended warranty protection and cellphone protection when you pay your cellphone bill with your Freedom Flex card.

This card can be made even stronger when paired with a Chase Sapphire Preferred® Card, Chase Sapphire Reserve® or Ink Business Preferred® Credit Card. Having one of these three cards will give you the ability to transfer the points earned on your Freedom Flex to one of these premium cards where they can be redeemed through Chase Travel℠ for 25% to 50% more value depending on which card you have or transferred at a 1:1 ratio to Chase’s airline and hotel partners, including United MileagePlus and World of Hyatt.

If your spending categories aren’t consistent throughout the year, the Citi Custom Cash® Card offers flexibility to earn more rewards in your top-earn category each billing cycle from a list of eligible categories.

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: The Citi Custom Cash® Card also offers free monthly access to your FICO Score.

If you shop through Instacart, it’ll be tough to beat the earnings rate on the Instacart Mastercard®—especially the first year.

Rewards: Earn 5% cash back on Instacart app and Instacart.com purchases, and on travel purchased through Chase Travel, 2% cash back at restaurants, gas stations and on select streaming services and 1% cash back on all other purchases.

Welcome offer: Earn a free year of Instacart+ and a $100 Instacart credit automatically upon approval.

Annual fee: $0

Other benefits and drawbacks: The Instacart Mastercard® also offers a secondary auto rental collision damage waiver, purchase protection, extended warranty and luggage delay or loss reimbursement.

The Discover it® Cash Back card’s welcome bonus can work out even better than a more traditional welcome bonus depending on how much you spend.

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: One of the downsides to the Discover it® Cash Back is the need to remember to activate the rotating bonus category each quarter, or you won’t earn the 5% cash-back rate.

Discover’s bonus categories change each quarter but typically include popular categories such as groceries, gas stations and restaurants. Keep in mind, Discover has a more limited reach outside the U.S. than other card networks.

Discover cardholders have the ability to freeze their account from the mobile app or website if you lose your card and free access to your FICO Score. This card offers a 0% introductory APR for 15 months on purchases and eligible balance transfers. Then, a standard rate of 17.24% - 28.24% variable applies. A balance transfer fee of up to 5% of the amount transferred applies.

If you want to change your bonus categories on a regular basis, the Bank of America® Customized Cash Rewards credit card’s flexible categories could be exactly what you’re looking for.

Rewards: Earn 3% cash back in the eligible category of your choice, 2% at grocery stores and wholesale clubs (up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases) and unlimited 1% on all other purchases.

Welcome offer: Earn a $200 online cash rewards bonus after spending $1,000 in purchases in the first 90 days of account opening.

Annual fee: $0

Other benefits and drawbacks: The card offers a 0% introductory APR for 15 billing cycles for purchases and balance transfers, 19.24% - 29.24% variable APR applies thereafter. Intro rate applies for any balance transfers made in the first 60 days; balance transfer fee of 3% applies to each transfer during this period, then 4%. Cardholders also get access to their FICO Score, updated monthly.

The Chase Freedom Unlimited® is similar to the Freedom Flex. The main difference you’ll find is how you’ll earn rewards—take a look at your spending habits to decide which card will be more rewarding for you.

Rewards: Earn 5% cash back on travel purchased through Chase Travel℠, 3% cash back on eligible dining and drugstores and 1.5% on all other purchases, plus an additional 1.5% cash back on the first $20,000 in purchases the first year.

Welcome offer: Earn an additional 1.5% cash back on up to $20,000 spent in the first year, worth up to $300 cash back.

Annual fee: $0

Other benefits and drawbacks: Like the Freedom Flex, the Freedom Unlimited can be paired with a premium Chase Ultimate Rewards-earning credit card to give you more value for your points.

The Freedom Unlimited also offers travel and consumer protections including an auto rental collision damage waiver, trip cancellation and interruption coverage, extended warranty and purchase protection. Notably, it does not offer cellphone coverage.

The U.S. Bank Cash+® Visa Signature® Card may not be the best choice if you’re looking for just one card because of its limited earning rates, but if you’re willing to pair it with another card, you could do well with 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 $200 rewards bonus after spending $1,000 on eligible purchases within the first 90 days of account opening.

Annual fee: $0

Other benefits and drawbacks: The U.S. Bank Cash+® Visa Signature® Card also offers a 0% intro APR on purchases and balance transfers for 15 billing cycles, then a standard APR of 19.49% - 29.74% variable APR applies. A balance transfer fee of 3% ($5 minimum) applies and balances transferred must be completed within 60 days from account opening.

If you’re looking for a simple no annual fee cash-back card, the flat-rate Wells Fargo Active Cash® Card definitely meets that criteria.

Rewards: Earn 2% cash rewards on purchases.

Welcome offer: Earn $200 cash rewards bonus after spending $500 in purchases in the first 3 months.

Annual fee: $0

Other benefits and drawbacks: With the Wells Fargo Active Cash® Card, you can protect your cellphone for up to $600 per incident and up to twice per year, subject to a $25 deductible, when you pay your cellphone bill with your card.

You can also enjoy a 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers, then a 20.24%, 25.24%, or 29.99% variable APR applies. Balance transfers made within 120 days qualify for the intro rate and fee of 3% then a fee of up to 5%, with a minimum of $5 applies. This card is not suitable for foreign purchases as it charges a 3% foreign transaction fee.