BEST 5 Cash Back Credit Cards for 2024

hey credit Warriors welcome to the show and it is now 2024 as of a month ago yay and you may be thinking about your credit card setup for the year 2024 and this is a video for people on team cashback yeah I know we talk a lot about earning points for free travel on this channel but this is for the cashback people fun coupons see that yeah for the fun coupon people we are going to look at what I think is one of the best cashback setups for the year 2024 this video is brought to you by kudos but more on that later all right so first a few rules we are going to try and avoid Annual fees since cashback people generally don't want Annual fees it eats into their cash back so actually only one card out of the five has an annual fee and even for that one there is a reason why I chose that one okay and then obviously we're going to be looking to earn as high a rate of cash back as possible on common spending categories like dining grocery Etc and also a good rate on non-category spend too so let's start with that non-category card so for a non-category card you typically want to be getting at least 2% cash back and for those of you that don't know non-category just means it doesn't have spending categories for earning extra points it's just 2% on everything with no limit often people call them a catch all card as well now there are a few choices and actually a few choic is more than 2% if you want to jump through some hoops for example if you want to sign up for the Alliant Credit Union Visa signature card you'll get 2.5% back on $10,000 in purchases per month but you have to keep a minimum daily balance of $11,000 in a bank account with them it may not be for everyone then there's also the X1 credit card that earns three points per dollar that are redeemable for cash back on spending above $11,000 per month up to $7,500 per month so basically it's 3x on $6,500 between $1,000 and $7,500 this one isn't ideal either because it assumes that you are a big spender in the non-category category is that a word non-category category mind blown total mindblower so yeah if you spend $1,000 a month in the non-category category then on top of that have even more non-category spend it could be for you but if not there's big opportunity cost you'll be able to get a way higher rate like 5% or so in certain spending categories using other cards so for most people I suggest to go for one of our next two cards either the city double cash or the Wells Fargo active cash for those of you that are still bitter about the Wells Fargo fake account Scandal that they paid $3 billion to settle I'll guess you'll be a choosing City but both of these cards earn 2% back and they both give you a $200 welcome bonus the city spending requirement is quite a bit higher than the wells cut City though gives you 18 months of 0% APR Wells Fargo gives you 15 months if that's important to you City also has another advantage and that is that it's kind of future proof so even in the future you decide you don't want cash back and you want points instead you can convert the cash back into points and transfer it over to the city premier where you can book travel transfer to Airlines and all that stuff then there's also the TD double up card that is very similar but the welcome bonus is only $100 so we're not going to choose that one I'm going to assume that you're going with the city double cash that's the most common cashback card for non-category spend all right let's move on grocery card all right so this is your grocery card and it actually also offers a few other benefits a few other spending categories but I'm going to recommend the AMX Blue Cash preferred now this card does have an annual fee but it is waved for the first year it's free okay yeah I guess it's free for the first year then there is also a $250 welcome bonus that pays for year 2 year three and half of year four you got to spend $3,000 in 6 months though to get it that's about $500 a month not too bad the main selling point of this card is the 6% that it earns back on US supermarkets up to $6,000 a year in spend if you do the math that's $360 per year you can earn if you Max it out and that's a pretty great great return since it's free for the first 3 and 1/2 years it's free okay so the grocery spend rate is the reason I chose this one but the card also earns 6% on screaming I mean streaming which doesn't usually amount to that much anyway streaming is relatively cheap compared to other things then it's also got 3% on Transit and 3% on gas now I will show you some cards later with 5% on gas and Transit at certain times but not always so this card will be like your full P back card for gas and Transit Transit means travel but not air or sea travel usually like trains Ubers Subways Etc so this is a great card for those things and there's also a Disney bundle credit and an Equinox Gym credit if you can get use out of those but let's now move on to some cards that earn 5% but first if you use a credit card like the cash back cards mentioned in this video or cards that earn points let me introduce you to Kudos Kudos isn't just another shopping app it's a free browser extension that card rates called the number one app to multiply your credit card rewards that's because Kudos helps you effortly double your rewards on over 15,000 websites like Walmart and price line just one click and 3% back turns into 6% back if you're not sure which card to use on a purchase Kudos has it all figured out it automatically appears at checkout and suggests the best card to use based on your spending habits and rewards preferences and here's where it shines Kudos will even show you all of your hidden benefits like travel insurance and extended warranties to guarantee that you're always using the best card and when it's time to check out forget the hassle of typing in your card details Kudos will autofill your card info for you and you can rest easy knowing that your data is shielded by Bank level 256bit encryption now you might be wondering about the cost here's the deal Kudos is completely free that's right there's no hidden costs Kudos earns a small commission when when you shop at one of their partner sites so why should you download Kudos well you'll earn double rewards at over 15,000 stores get smart card recommendations whenever you shop online Breeze through checkout with autofill and unlock hidden card benefits Kudos helped over 150,000 members earn over $100 million in credit card rewards last year and that could be you too so what are you waiting for Kudos works on all major desktop browsers and your iPhone just click the link below and use code shuu to get kudos for free and for a limited time Kudos is giving my viewers up to 250 boost points for signing up that's the equivalent to $250 in free money if you're ready for more rewards check out Kudos it's time to make your credit cards work harder for you all right now for our next cash back card and that is your first 5% category card so 5% category cards are credit cards that earn 5% back on certain categories that may rotate each month or quarter May automat atically adjust depending on your spending or you may choose yourself we're going to see all three types so our first 5% category card is the city custom cash this is the automatic type since the city custom Cash Card automatically adjusts to earn me more cash back in my top eligible category suddenly life's feeling a little more automatic that's right this card earns 5% back in whatever category you spend the most in each month from this list of categories restaurants gas stations grocery stores select travel select Transit select streaming service drug stores home improvement stores fitness clubs live entertainment so that's why I said earlier that if you don't have gas as a category for 5% you can get 3% on the MX Blue Cash preferred but if gas was your biggest spending category that month on this card then you would earn 5% it's limited to $500 in spend per month though and then it goes down to 1% this card also has a $200 welcome bonus and we're going to add up all of the welcome bonuses from all of the cards at the end of the video for you so you can see how much it would be if you got them all in one year and like all the remaining cards in this video this car has no annual fee again since this is a city card like the double cach if you decide in the future that you want points instead of cashback you can actually convert it to points with City all right let's talk about the next one our second 5% category card next up we have the Chase Freedom Flex now this is another 5% category card and this is an interesting one because the welcome bonus gives you an amazing rate on Gas and Grocery for the first year so right now the Chase Freedom Flex is offering a welcome bonus B us of $200 plus 5% back on Gas and Grocery for the first year on $112,000 in spending that is $600 in cash back if you Max it out then add the $200 that's $800 in value that you could get back from the bonus in your first 12 months this is the current bonus as of February 2024 there are some other bonuses out there but this in my opinion is the best one if you're watching this in the future the bonus could be different then the Chase Freedom Flex also has rotating quarterly categories that you can earn 5% on and that's limited to $1,500 per quarter this quarter it's grocery stores fitness clubs and Spas so this quarter you would use this card for grocery to save that 6% allowance okay remember it's limited to $6,000 per year on your MX Blue Cash preferred if you don't think you'd go over the allowance in a whole year I know I would but if you don't think you would then you could just go with the blue cash preferred for grocery then you'd use your City Custom cash for either dining or gas or perhaps Transit whichever category is going to be your next highest spend category another thing about the Chase Freedom Flex is that it provides cell phone insurance up to $800 per claim with a $50 deductible so this would be the card out of the five card setup that I would pay my cell phone bill with all right let's now move on to our last card which I am calling our wild card it is in fact our third 5% category card so the US Bank Cash Plus has some differences from other 5% category cards the categories that you choose your yourself are kind of unique and you get to choose two of them I'll put them on screen now this is the only card that I can think of where you can get 5% back on home utilities department stores and furniture stores the spend limit is also higher at $2,000 per quarter the card also has a $200 welcome bonus right now and like most of the others no annual fee this card I feel can cover some of the more unusual categories that you wouldn't normally able to get any bonus amount in and you'd usually just use your 2% non-category card for all right guys so that is the Five Card cashback setup for 2024 in my humble opinion let's now add up all the welcome bonuses including maxing out the Gas and Grocery 5% thing on the freedom flex and we get a total of $1,650 in value in the first year and remember there's no annual fee for the first year and then it's $95 after that just on one of the cards so guys I think this is a cool setup i' love to hear what you guys think please leave your comments in the comment section below let me know if you could improve a on it there are loads of possible setups that we could go with and we didn't even go into talking about store cards that earn 5% 6% for people who are loyal to certain stores so if you are that could be a possibility as well do check out Kudos in the links below use my code shiu to get kudos for free and you get 250 bonus points to get you started as well please subscribe if you're new I'll see you next time bye-bye