Credit cards, though not for everyone, can come with a number of benefits, should you choose to use them.

This article will highlight some of my favorite credit cards to utilize for moneymaking purposes (i.e., cash back and account opening bonuses).

While I haven’t personally opened all of the cards listed below, I have opened a number. I’ll share my experiences with these cards, while sharing the offers available with other cards.

You can read a brief telling of my history with credit cards here.

First Things First

As Socrates famously said millennia ago, know thyself. That’s to say, do not open credit cards— or credit lines, in general— if you have a proclivity for spending beyond your means.

Credit card companies are able to offer generous cash back rates— and other perks— largely because many people do not spend responsibly, and end up in high-interest debt. In essence, you’re only beating the system with rewards if you’re one of those customers who’s able to pay their statement in full each month.

(By the way, the easiest way to never forget to pay off your balance each month is by using AutoPay. All of my credit card issuers offer this feature, and it not only allows you to free up the mental energy associated with remembering your payment due date, but lets you set the day of the month you actually pay your statement. This is great for people with lower account balances who get paid on a certain date).

Sometimes you’ll be able to find a 0% APR introductory offer, or enact a balance transfer, but it’s still best to stay in the habit of living within your means. After all, that interest-free rate will only last a few months, at best.

As with all advice on this site, do not have it substitute for the advice of a finance professional. I am simply sharing my experience and knowledge, in hopes that it will help and resonate with others.

My Favorite Cash Back Credit Cards

The most versatile– and most-used– credit card in my wallet is the Citi Double Cash. Simplicity is the Double Cash’s calling card, as it gives you 2% back on all purchases (1% upon purchase, and 1% upon paying off your purchase).

I’ve still found space for many cards in my wallet, thrilled by the allure of getting 5% back with this card or 10% with that card on certain purchases. It takes some effort to remember which card gives you what, but if you’re willing to put in the work, it can quickly pay off.

Here are some of my favorite— albeit less straightforward— cash back offers and perks with the credit cards in my wallet:

Certain Capital One cardholders (I have the Savor One) are eligible to receive 10% cash back on all Uber and Uber Eats purchases, plus a complimentary Uber One membership (in the form of a statement credit) through November 14^th, 2024.
The Amazon Prime Rewards Visa Signature Card gives you 5% back on all purchases made at Amazon and Whole Foods. This can really add up if you treat Amazon as your “one-stop shop.” Keep in mind that Amazon (and Whole Foods) sells gift cards to a number of third-party retailers, which effectively allows you to save 5% at these stores too!
The U.S. Bank Cash Plus card actually lets you choose your quarterly 5% cash back categories. Granted, U.S. Bank limits you in terms of category selection, but the options are still pretty wide-ranging— from home utilities to gyms to public transit. Moreover, many of these categories are fairly unique 5% back categories, allowing you to effectively optimize your cash back with other cards in your wallet.
The American Express Blue Cash Everyday is one of the best no-annual-fee credit cards, thanks to its generous 3% cash back categories. It offers 3% back at grocery stores, gas stations, and on online retail purchases. While a few no-fee cards will give you 3% back (or better) on groceries and gas, it’s usually only for a quarter, due to rotating categories. Meanwhile, the 3% back on online retail purchases is rather unique, and makes the Everyday card truly worth using almost every day.

I also have the Chase Freedom Flex and Discover It, which are considered conventional “rotating category” cards. In other words, these cards give you 5% back in a few preselected spending categories each quarter (i.e., you can’t choose them), but these categories change every 3 months.

In most cases, you need to enroll in these preselected categories every quarter, which typically takes just a few seconds, but can still be easy to forget. With both the Freedom Flex and Discover It, you only earn 1% back on all purchases that fall outside of the current rotating categories.

Other Cards I’ve Heard Good Things About

There are a handful of credit cards I’ve heard good things about, but don’t own, which I’ll briefly cover in this section.

The Robinhood Gold Card offers 3% back on all purchases and claims to carry “no annual fee”– though it isn’t really free, since you need a Robinhood Gold Membership ($5/month; $50/year) to become a cardholder. Moreover, the card currently has a long waitlist, so there’s no telling when you’d actually receive one.

My take is that Robinhood is trying to disrupt the credit card industry, as they once did with stock brokerages. Time will tell if this card survives; there’s good reason no other company has offered 3% across all categories— along with other benefits, such as 5% back on travel.

A couple of potential drawbacks to consider include Robinhood’s embroilment in a ton of controversy in recent years, and the fact that their CEO has openly evaded the question as to whether the 3% back rate is here to stay in the long run.

That said, (another) potential benefit with the Gold Card is that Robinhood’s Gold membership also includes IRA matching and 5% interest on their branded savings account (which slightly beats out most other high-yield savings rates).

If you’re interested in giving the free Robinhood stock trading app a whirl first, click here. You’ll get free stock, worth anywhere from $5 to $200, just for signing up using the link above.

The Wells Fargo Active Cash card seems like a worthy alternative to the Double Cash, as it also offers 2% back on all purchases.

Obviously, Wells Fargo– much like Robinhood– has had its own fair share of controversy, which is part of the reason I’ve never actually opened the Active Card. (I also haven’t really see the need, given I already have the Double Cash and am reticent to open any more cards at this point).

One nice benefit to the Active Cash (that the Double Cash doesn’t offer) is its $200 account opening bonus. If you spend $500 or more in your first three months, you’re entitled to that one-time $200 bonus.

Best Account Opening Bonuses

As alluded to with the Wells Fargo Active Cash, many credit card companies give customers healthy account opening bonuses, given they meet certain requirements.

This section will briefly cover some of the best account opening bonuses I’ve found. Note that I’m only including annual-fee-free cards (as I did in the sections above).

The Discover It is known for matching all cash back earned in the first year. For instance, if you earned $300 cash back in your first 12 months after account opening, Discover will give you another $300. Depending on how often you use your Discover card (and its rotating 5 percent cash back categories), this could add up to a small fortune!

To boot, if you sign up using this link, you’ll get another $100 (in the form of a statement credit), so long as you use your card at least once within the first 3 months.

The Chase Freedom Flex offers $200 cash back when you spend at least $500 on your new card within 3 months. I like this offer in large part because $500 in 3 months is a fairly low threshold. My tip is to simply charge everything you can to your Freedom Flex until you reach $500 in purchases.
The aforementioned Amazon Prime Rewards Visa Signature Card offers a $200 welcome bonus during certain times of the year, including Christmas and Prime Day. (Its bonus is usually $50 or $100 most of the rest of the year, from what I’ve noticed).

The unique caveat, however, is that you don’t need to spend any given amount to qualify for this account opening bonus. If you simply qualify for the card, you’ll get $200 (or whatever amount’s currently being advertised) deposited into your Amazon account balance.

As highlighted earlier, the Wells Fargo Active Cash also offers $200 back (after $500 in purchases) during the first 3 months.

Other Credit Card Cashback Tips

Check the targeted cashback offers that come with your credit (or debit) card. Oftentimes, when you open a new credit card, it will have special, one-time-use offers (e.g., X percent or amount back at retailer Y). For instance, I remember buying a $100 Amazon gift card for only $80 last year, by using a 20% back at Best Buy offer that came with my then-new Chase Freedom Flex.
On the topic of specialized cashback offers, AMEX in particular, is known for offering a wide array (usually 100 or more) of offers at any given time. They run the gamut from cash back to specific retailers or on specific types of purchases (such as cash back on your insurance or phone bill).
While I can’t personally vouch for annual-fee credit cards, many of these cards (e.g., the AMEX Blue Cash Preferred) offer the first year free. The main reason many choose annual-fee cards is for their better benefits and perks (e.g., higher cash back rates). You can subsequently “downgrade” to a similar card with no annual fee (e.g., the Blue Cash Everyday) just before the end of your first year. This lets you maintain your credit history with that issuing bank, leaving your credit score unaffected.

Final Thoughts

If you have a low (or no) credit score or history, don’t fret! There are still options out there to help you get cash back.

For instance, you may want to look at the Discover Cashback Debit. It offers a flat 1% back on all purchases (up to $3,000 a month). All you have to do is open a free checking account with Discover (which you’ll, in turn, use to pay for your purchases).

Also, remember there are many ways to build credit. There are the conventional tips, such as paying your bill on time every month, and keeping your credit utilization low (below 30%), if possible. But nowadays, you can even build credit with certain debit cards, or through rent-reporting services.