Best 2% Cash-Back Credit Cards: Earn Cash Back on All Purchases

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Credit cards have plenty of unique incentives to make cardholders choose them over their competition. Different cards can offer rewards points, travel miles and other innovative perks. However, there are different types of cash-back credit cards that could be the preferred option for many consumers. With a 2% cash-back card, anyone can earn while they spend, ultimately making their budget go further.

10 Best 2% Cash-Back Credit Cards

Here are some of the best 2% cash-back credit cards available today.

1. Alliant Cashback Visa® Signature
2. Citi Double Cash®
3. Bread Cashback™ Card
4. Capital One Spark 2% Cash Plus
5. Synchrony Premier World Mastercard®
6. SoFi Credit Card
7. PayPal Cashback Mastercard®
8. Fidelity® Rewards Visa Signature®
9. Wells Fargo Active Cash®
10. Apple Card

Keep reading to learn the details of each so you can make the choice that is right for you.

1. Alliant Cashback Visa® Signature Credit Card

• Best for: Those who don’t want restrictions on cash-back options
• Pros
  • Great 2.5% cash-back rate on the first $10,000 spent
  • No annual fees
• Cons
  • Requires a checking account with Alliant
  • Requires at least $1,000 average daily balance each month
  • No special welcome offer

The Alliant Cashback Visa Signature credit card is an attractive option that provides cash back and doesn’t charge an annual fee. This card doesn’t give precisely 2% cash back but instead provides 2.5% on the first $10,000 in eligible spending. Any spending after that earns 1.5% cash back.

One of the best features of this card is that it doesn’t restrict cash back to certain categories of spending. While many others only give cash back at certain stores or for certain purchases like groceries or gas, the Alliant Cashback Visa Signature card carries no such restrictions. However, getting the card does require joining Alliant credit union. 

2.

• Best for: Usability and versatility
• Pros
  • 2% cash back as long as you don’t carry a balance
  • No annual fee
  • Introductory APR for balance transfers
• Cons
  • APR offer is only for balance transfers, not purchases
  • Charges foreign transaction fees

The Citi Double Cash® card provides 2% cash back but does so in a unique way. Citi® describes the bonus not as simply getting 2% cash back but as receiving 1% cash back twice. Cardholders receive 1% cash back when they make a purchase and 1% cash back when they pay it off.

This cash rewards credit card is also very versatile. In addition to receiving cash-back points as a statement credit, direct deposit or mailed check, you can redeem them for gift cards, travel or shopping at Amazon and other online retailers.

3. Bread Cashback™ American Express® Credit Card

• Best for: Control over cash-back earnings
• Pros
  • Unlimited 2% cash back with no category restrictions
  • American Express security and benefits
  • No annual fee
• Cons
  • No welcome offer
  • Less competitive APR

You might not have heard of Bread Financial before if you’ve been exploring more conventional credit card issuers. The unique financial tech company focuses on co-branding, developing credit cards that offer specific benefits for consumers.

The Bread Cashback American Express® credit card is a bit of a change from the company’s usual category- and brand-specific cards. It provides unlimited 2% cash back on any purchases, with no restrictions on which outlets, brands or categories you shop.

However, it’s also the only card from American Express that’s Member FDIC. The company generally shies away from these types of offers, making this credit card a rare opportunity to enjoy the security and other benefits that American Express has to offer in a cash-back card with no annual fee.

4. Capital One Spark 2% Cash Plus

• Best for: Small business owners 
• Pros
  • 2% cash back on all purchases
  • Employee cards
  • Welcome bonus
• Cons
  • Only for businesses
  • $150 annual fee

Unlike many of the other options on this list, Capital One Spark 2% Cash Plus specifically pegs itself as a business card. The versatile card includes several features geared towards business use, including having no spending limits and no limit on its 2% cash back.

A sign-up bonus welcome offer provides a bit of additional incentive to choose this card and makes up for the $150 annual fee. There is a cash bonus of up to $1,000 for meeting spending thresholds in the first six months: you receive $500 if you spend $5,000 within three months and another $500 for spending $50,000 within six months.

Because this is a business card, it also provides free cards for employees so that all company spending earns 2% cash back. These employee cards aren’t just for facilitating transactions; they also give managers ways to track and monitor expenses.

5. Synchrony Premier World Mastercard®

• Best for: No restrictions on spending
• Pros
  • Straightforward 2% cash back
  • No annual fee
• Cons
  • Foreign transaction fee
  • No welcome offer

Synchrony Bank provides a wide range of partnered credit cards for brands like Lowe’s, Ashley Furniture, Living Spaces and Pep Boys. Among its offerings is the Synchrony Premier World Mastercard®, another 2% cash-back credit card that might have the benefits you’re looking for.

As a World Mastercard, the card carries a variety of protections, from fraud to identity theft. This includes Mastercard’s regular identity monitoring, making this a great pick for travelers and has no annual fees. The card also features a variety of additional discounts for services like DoorDash, Lyft and Hello Fresh.

6. SoFi Credit Card

• Best for: Those who prefer a wide variety of products
• Pros
  • 2% cash back on all purchases
  • Earn 3% cash back with direct deposit for a limited time
  • No annual fee
• Cons
  • Additional SoFi accounts needed

The SoFi credit card rewards you with 2% cash back plus many of the perks that consumers have come to expect from online finance, such as added benefits from brands like Lyft and DoorDash. The card doesn’t have any restrictions based on spending categories, and there are no annual fees.

To take advantage of the 2% cash-back offer, you must enroll in other SoFi financial products. Every dollar spent accrues two reward points, which only provide their full value if you deposit them into a checking, savings, cryptocurrency, investment or loan account with SoFi.

For a limited time, you can earn an additional 1% cash back, for a maximum of 36,000 points, when you set up and maintain a qualifying direct deposit each month. Cardholders who make 12 monthly payments in a row on time and meet minimum requirements can have their APR lowered by 1%.

7. PayPal Cashback Mastercard®

• Best for: Those who consistently use PayPal as a payment method
• Pros
  • 2% cash back everywhere
  • 3% cash back on PayPal purchases
  • No annual fee
• Cons
  • Less competitive APR

Online shoppers might just have found their best cashback offer with the PayPal Cashback Mastercard®. This unique offering provides a bonus that ups cash back to 3% on purchases made through PayPal. Anyone who already uses PayPal could stand to gain a lot from this offer.

In addition to the unique benefits offered for PayPal payments, the card provides 2% cash back on all purchases not made through PayPal checkout. There are no further category restrictions, and the cashback is unlimited.

8. Fidelity® Rewards Visa Signature® Card

• Best for: A variety of rewards
• Pros
  • 2% cash back anywhere
  • Visa Signature benefits
  • No annual fee
• Cons
  • 2% only when deposited in Fidelity accounts

This is a cash-back card that works with Fidelity’s various savings and investment products. To take advantage of the 2% offer, you must deposit your cash back into a qualifying Fidelity account. You can deposit all your cash back into a single account or divide it among up to five different accounts.

You can also redeem points for a variety of other rewards, including travel and merchandise, but at a reduced rate. With eligibility to deposit the full 2% into IRAs, 529 college savings plans and other investment or bank accounts, the best way to use this card is to supplement long-term savings and investments.

There’s no annual fee and a low foreign transaction fee. This is a Visa Signature card, so cardholders receive many additional benefits. These include auto rental collision damage waivers, lost luggage reimbursement, travel accident insurance and roadside dispatch.

9.  

• Best for: Sign-up bonus offers
• Pros
  • Unlimited 2% cash back anywhere
  • $200 cash bonus after spending $500 in the first three months
  • No annual fee
• Cons
  • 3% foreign transaction fee

The Wells Fargo Active Cash® Card has many perks. Not only is there no annual fee and unlimited 2% cash back on all purchases but it additionally offers a sign-up bonus of $200 after spending $500 in purchases in the first three months.

This card is also one of the more user-friendly cards when it comes to application and rewards redemption.

10. Apple Card

• Best for: Those who consistently use Apple Pay as a payment method
• Pros
  • 2% cash back on every purchase
  • 3% cash back on Apple purchases
  • No fees
• Cons
  • Only 1% back with a physical Apple Card

The Apple Card is great for those who are always on their phone and like it to be a one-stop shop. Though you can earn 3% cash back with any Apple purchase, all other purchases earn you 2% cash back made via Apple Pay. 

The card has no annual fee. As many retailers and merchants accept Apple Pay, if you are an iPhone user this may be the cash-back card for you.

Final Take

Almost all of these cards provide additional benefits in some areas, so it makes sense to take a closer look at what these bonuses mean to you.Take the time to study these great 2% cash-back credit cards carefully to make sure you’re getting the most out of your everyday spending. Different cards work best for different types of spenders, so it’s important to research the options before making a selection.

Caitlyn Moorhead contributed to the reporting for this article.

Data is accurate as of March 10, 2023, and is subject to change.

All information about American Express card offers has been collected independently by GOBankingRates and has not been reviewed or approved by American Express. These offers are not available through GOBankingRates.

GOBankingRates is a personal finance and consumer interest rate website and an online marketing company serving top-tier banks, credit unions and other financial services organizations. Some companies mentioned in this article might be clients of GOBankingRates, which serves more than 100 national, local and online financial institutions. Rankings and roundups are completely objective, and no institution, client or otherwise, paid for inclusion or specific placement. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by the companies included in the article. All fees and rates are subject to change at the issuers’ discretion. Some interest rates might be short-term or promotional offers only, and it is possible additional terms and conditions must be met to obtain the interest rates listed. Rates and availability might vary by region. Verify terms and conditions before opening an account.

GOBankingRates bases its assessment of “best” and “top” products on the above-stated parameters to create a baseline for comparison. This assessment is an approximation of “best” and “top” designed to help consumers find products that might be appropriate for them. There could be other options available as well. Consumers should consider various options appropriate for their circumstances.

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