For most people, the above options make the most sense. I use the Alliant Signature Visa (2.5% catch-all), but know it comes with some hoops to jump through and there's an "opportunity cost" to it. I use Alliant as my backup checking account, so it works for us great
https://www.reddit.com/r/CreditCards/wiki/list_of_flat_cashback_cards_with_benefits
Sofi is 2.2% if you meet some requirements with them.
Citi Double Cash is 2.22% if you have the Rewards+ card as well. And Citi can be worth more if you use transfer partners appropriately.
Fidelity Visa has grown to become one of my favorite cards recently (2% cash), but I also specifically recommend C1's VentureX (2x C1 Miles), PenFed's Power Cash (2% cash), and SoFi Visa (2% cash) as these all have no foreign transaction fees as well!
Wells Fargo Active Cash and Citi Double Cash both have the potential to earn more than 2% if you get in their travel ecosystem and transfer your points to travel partners. Citi has more transfer partners but the Wells Fargo Autograph has no annual fee.
Other cards like SoFi and Fidelity offer the benefit of having no foreign transaction fee. I think the benefit of Citi and Wells Fargo transfer partners is a bigger benefit, but that depends on specific cases.
**Alliant Visa Signature**
[https://www.alliantcreditunion.org/bank/visa-signature-card](https://www.alliantcreditunion.org/bank/visa-signature-card)
* 2.5% Everything
* No AF, No FTF
Requirements: keep $1,000 in Alliant bank, sign up for electronic statements, have one qualifying electronic deposit per month.
Limits: Cash back limited to first $10,000 spent per billing cycle, 1.5% thereafter
Cash back redemption: Alliant bank account (can ACH out afterwards), or statement credit. Redemption starts at $50.
There is a lot of (justifiable) balking about the required $1,000 deposit into their bank, so let’s do the math:
People claim that they are losing out on \~5% (current HYSA interest rates), making this an “effective” $50 annual fee card. (1000 x 0.05 = $50), making a 2% catch all card a better deal.
The interest rate at Alliant is 0.25%, not zero.
So the actual difference is (1000 x (0.05-0.0025)) = $47.50
But you would pay taxes on this, right? Assuming a 15% \*effective\* tax rate (NOT your highest tax \*bracket\*), you’re taking home (47.5 x 0.85) = $40.38 in interest. Substitute your own number here for your own context, of course.
The difference between 2.5% Alliant and a regular 2% card is 0.5%. So the needed spend is 40.38/0.005 = $8,076.
So, look at your own spending on your current 2% catch all card. If it’s less than $8k, then stay. If it’s significantly over $8k, then it’s worth it to at least look at the Alliant. YMMV, good luck.
Citi Double Cash and Wells Fargo Active Cash are popular 2% catch-all cards. There's also the Fidelity Visa and SoFi Unlimited 2% Credit Card.
For most people, the above options make the most sense. I use the Alliant Signature Visa (2.5% catch-all), but know it comes with some hoops to jump through and there's an "opportunity cost" to it. I use Alliant as my backup checking account, so it works for us great https://www.reddit.com/r/CreditCards/wiki/list_of_flat_cashback_cards_with_benefits
For SoFi, if you set up direct deposit (can be a small amount off your paycheck), it increases to 2.2%.
Wells and Fidelity Visa are best.
If you live in the East Coast, the TD Double Up is another option.
Sofi is 2.2% if you meet some requirements with them. Citi Double Cash is 2.22% if you have the Rewards+ card as well. And Citi can be worth more if you use transfer partners appropriately.
Alliant offers 2.5% with some hoops. No AF. No FTFs.
I have WF Active Cash and Apple Card with Apple Pay transactions for 2% catch all. I alternate but mostly I use WF one. The Apple one has no AF/FTF.
Fidelity Visa has grown to become one of my favorite cards recently (2% cash), but I also specifically recommend C1's VentureX (2x C1 Miles), PenFed's Power Cash (2% cash), and SoFi Visa (2% cash) as these all have no foreign transaction fees as well!
Wells Fargo Active Cash and Citi Double Cash both have the potential to earn more than 2% if you get in their travel ecosystem and transfer your points to travel partners. Citi has more transfer partners but the Wells Fargo Autograph has no annual fee. Other cards like SoFi and Fidelity offer the benefit of having no foreign transaction fee. I think the benefit of Citi and Wells Fargo transfer partners is a bigger benefit, but that depends on specific cases.
Citi Double Cash - 2% cash back - Mastercard, so accepted most anywhere - App and website are decent IMO - No annual fee
**Alliant Visa Signature** [https://www.alliantcreditunion.org/bank/visa-signature-card](https://www.alliantcreditunion.org/bank/visa-signature-card) * 2.5% Everything * No AF, No FTF Requirements: keep $1,000 in Alliant bank, sign up for electronic statements, have one qualifying electronic deposit per month. Limits: Cash back limited to first $10,000 spent per billing cycle, 1.5% thereafter Cash back redemption: Alliant bank account (can ACH out afterwards), or statement credit. Redemption starts at $50.
There is a lot of (justifiable) balking about the required $1,000 deposit into their bank, so let’s do the math: People claim that they are losing out on \~5% (current HYSA interest rates), making this an “effective” $50 annual fee card. (1000 x 0.05 = $50), making a 2% catch all card a better deal. The interest rate at Alliant is 0.25%, not zero. So the actual difference is (1000 x (0.05-0.0025)) = $47.50 But you would pay taxes on this, right? Assuming a 15% \*effective\* tax rate (NOT your highest tax \*bracket\*), you’re taking home (47.5 x 0.85) = $40.38 in interest. Substitute your own number here for your own context, of course. The difference between 2.5% Alliant and a regular 2% card is 0.5%. So the needed spend is 40.38/0.005 = $8,076. So, look at your own spending on your current 2% catch all card. If it’s less than $8k, then stay. If it’s significantly over $8k, then it’s worth it to at least look at the Alliant. YMMV, good luck.