How to Get 5% Cash Back on Almost Everything

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We all love a discount, right? What if you could give yourself 5% off almost all of your purchases? With a selection of five different credit cards, you can. All of these cards have no annual fee so you won’t need to pay for the privilege of earning these cash back rewards. 

To get 5% back on almost everything, these are the cards you should have in your wallet:

Chase Freedom Flex

Every three months, the Chase Freedom Flex offers 5% cash back in rotating categories up to $1,500 spent in combined purchases in that quarter’s bonus categories. From July through September 2022, cardholders can earn 5% back on purchases made at gas stations, rental cars, movie theaters, and some live entertainment. Chase typically releases the choices mid-month before they take effect.

Discover It

The Discover It card also offers 5% back on rotating categories throughout the year up to $1,500. Like the Chase Freedom Flex, the categories are predetermined with no room for customer choice, but they tend to be on popular categories including grocery stores, gas stations, and Amazon. For July through September, cardholders earn 5% back on restaurants and PayPal.

US Bank Cash+

With the US Bank Cash+ card, you earn 5% back on the first $2,000 of spending in two categories that you get to choose from a list of 12 options that change quarterly. 

Citi Custom Cash

The Citi Custom Cash gives cardholders 5% cash back on their top eligible spend category (up to $500 spent per billing cycle). The cardholder doesn’t need to do anything to activate the category—it’s automatically applied to the highest eligible category including restaurants, gas stations, grocery stores, certain travel and transportation, certain streaming services, drugstores, home improvement, gyms, and live entertainment. Because the Citi Custom Cash card is more flexible, this card is great for filling in the gaps between the Chase Freedom Flex, Discover It, and US Bank Cash+ cards.

Target RedCard or Capital One Walmart Rewards 

Because credit card companies typically don’t categorize superstore purchases as groceries, if you are a big superstore shopper, it pays to pick one and get the store card. The Target RedCard offers 5% back on all in-store and online Target purchases. The Capital One Walmart Rewards card offers 5% back on online Walmart purchases, including pickup and delivery. 

Amazon Prime Rewards

As long as you are already paying for an Amazon Prime membership, the Amazon Prime Rewards Visa offers 5% back on Amazon and Whole Foods with no additional annual fee. Considering that you can buy most things at Amazon or Whole Foods, most people could get a lot of bang for their buck with this card.

Credit Card Best Practices

With great rewards comes great responsibility. Before applying for any new credit card, consider the following best practices:

  • Credit card rewards are only really benefiting you if you are paying off your card in full each month.

  • You may need a certain credit score to get approved for these cards. While it’s no guarantee, checking if you prequalify for a card can help you avoid an unnecessary hard inquiry on your credit report.

  • Applying for multiple lines of credit in a short period of time can be a red flag to lenders. You should space out your applications by a few months per card.

  • Applying for a new credit card can affect your credit score either positively or negatively depending on your specific credit profile, so take it slow!

You can find some of these cards and more on our B.F.F. approved credit cards page!

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