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LendingTree is compensated by companies on this site and this compensation may impact how and where offers appears on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.
LendingTree is an advertising-supported comparison service. The site features products from our partners as well as institutions which are not advertising partners. While we make an effort to include the best deals available to the general public, we make no warranty that such information represents all available products.
Terms apply to American Express benefits and offers. Visit americanexpress.com to learn more.
August 1, 2022
*Editorial Note: The content of this article is based on the author’s opinions and recommendations alone. It may not have been reviewed, approved or otherwise endorsed by the credit card issuer. This site may be compensated through a credit card issuer partnership.
This article was last updated August 1, 2022 . Terms and conditions may have changed. For the most accurate information, please consult the issuer website.
For consumers looking to maximize cashback rewards, credit cards with 5% cashback programs can be some of the most lucrative on the market. Based on our research of cards available through LendingTree, as well as top cards offered by major issuers, we’ve identified several cards that earn 5% cash back in different ways — in rotating quarterly categories, in two categories of your selection, on specific types of spending, and when shopping at specific retailers.
We recommend pairing one of these cards with a flat-rate card such as the Citi® Double Cash Card – 18 month BT offer. With the Citi® Double Cash Card , you can earn 2% on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases.
By using one of the cards below for purchases eligible to earn 5% cash back, and using your flat-rate card on all other purchases, you can make sure you’re always earning cashback on everything you buy.
Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter! Plus, earn 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% on dining and drugstores, and 1% on all other purchases. Plus, earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening! With a $0 annual fee, this card is a stellar offering.
The Chase Freedom Flex℠ also offers a strong introductory APR period if you need time to pay off a big purchase: 0% Intro APR on Purchases for 15 months, after which a 16.49% - 25.24% variable APR applies.
Plus, the card offers a 0% Intro APR on Balance Transfers for 15 months. After, the regular APR will be 16.49% - 25.24% variable. The balance transfer fee is either $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days. Then, either $5 or 5% of the amount of each transfer, whichever is greater.
The Chase Freedom Flex℠ is best for consumers who spend regularly on dining or drugstore purchases, and whose shopping habits often line up with the card’s rotating bonus categories. Chase announces each category shortly before its quarter, unlike Discover, which roles out its rotating categories for the entire upcoming year. So far, here are the Chase Freedom Flex℠ rotating categories for 2022:
Before applying for this card, make sure you’re familiar with the Chase 5/24 rule. In short, this unwritten rule says that Chase will deny your application if you’ve been approved for five or more credit cards from any issuer within the past 24 months. Also, be aware that activation is required each quarter for the bonus categories or you’ll earn just 1% on those purchases. Finally, cash back in rotating categories is capped at $1,500 spent in those categories per quarter, after which your earning rate drops to 1% back.
Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories each quarter! Plus, earn 5% cash back on travel purchased through Chase Ultimate Rewards®, 3% on dining and drugstores, and 1% on all other purchases. Plus, earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening! With a $0 annual fee, this card is a stellar offering.
The Chase Freedom Flex℠ also offers a strong introductory APR period if you need time to pay off a big purchase: 0% Intro APR on Purchases for 15 months, after which a 16.49% - 25.24% variable APR applies.
Plus, the card offers a 0% Intro APR on Balance Transfers for 15 months. After, the regular APR will be 16.49% - 25.24% variable. The balance transfer fee is either $5 or 3% of the amount of each transfer, whichever is greater in the first 60 days. Then, either $5 or 5% of the amount of each transfer, whichever is greater.
The Chase Freedom Flex℠ is best for consumers who spend regularly on dining or drugstore purchases, and whose shopping habits often line up with the card’s rotating bonus categories. Chase announces each category shortly before its quarter, unlike Discover, which roles out its rotating categories for the entire upcoming year. So far, here are the Chase Freedom Flex℠ rotating categories for 2022:
Before applying for this card, make sure you’re familiar with the Chase 5/24 rule. In short, this unwritten rule says that Chase will deny your application if you’ve been approved for five or more credit cards from any issuer within the past 24 months. Also, be aware that activation is required each quarter for the bonus categories or you’ll earn just 1% on those purchases. Finally, cash back in rotating categories is capped at $1,500 spent in those categories per quarter, after which your earning rate drops to 1% back.
Check out our Chase Freedom Flex℠ review.
The Discover it® Cash Back sets the standard for 5% cash back in rotating categories for a $0-annual-fee card.
Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases - automatically. Note that after spending $1,500 in the quarterly bonus category, your earning rate drops to 1% for all purchases until the next quarter.
There’s also a unique sign-up bonus: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300. Thanks to the match, you essentially earn 10% cash back in the bonus categories (if you activate them) your first year with the card.
Cardholders also get solid intro APR periods for purchases and balance transfers:
There’s a 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*.
The Discover it® Cash Back is best for consumers whose spending habits match up with the rotating 5% categories. Luckily, Discover makes it easy to plan ahead by releasing the cashback category for the entire year. Here are the Discover bonus categories for 2022:
Be aware that you must activate the bonus category each quarter or you’ll earn just 1% on all purchases. Also, take note that the 5% rate is limited to $1,500 spent in the bonus category each quarter. Once you hit that cap, your earning rate drops to 1% until the next quarter brings a new category.
The Discover it® Cash Back sets the standard for 5% cash back in rotating categories for a $0-annual-fee card.
Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate. Plus, earn unlimited 1% cash back on all other purchases - automatically. Note that after spending $1,500 in the quarterly bonus category, your earning rate drops to 1% for all purchases until the next quarter.
There’s also a unique sign-up bonus: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300. Thanks to the match, you essentially earn 10% cash back in the bonus categories (if you activate them) your first year with the card.
Cardholders also get solid intro APR periods for purchases and balance transfers:
There’s a 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*.
The Discover it® Cash Back is best for consumers whose spending habits match up with the rotating 5% categories. Luckily, Discover makes it easy to plan ahead by releasing the cashback category for the entire year. Here are the Discover bonus categories for 2022:
Be aware that you must activate the bonus category each quarter or you’ll earn just 1% on all purchases. Also, take note that the 5% rate is limited to $1,500 spent in the bonus category each quarter. Once you hit that cap, your earning rate drops to 1% until the next quarter brings a new category.
Check out our Discover it® Cash Back review.
Cardholders with the U.S. Bank Cash+® Visa Signature® Card earn 5% cash back on your first $2,000 in combined eligible purchases each quarter on two categories you choose. 5% cash back on prepaid air, hotel and car reservations booked directly in the Rewards Travel Center. 2% cash back on one everyday category, like Gas Stations/EV Charging Stations, Grocery Stores or Restaurants. 1% cash back on all other eligible purchases. Choose one of these categories to earn an unlimited 2% cash back each quarter:
Then choose two of these categories to earn 5% cash back on your first $2,000 in combined eligible net purchases (up to $100 in cash back per quarter):
There’s also a relatively easy-to-earn sign-up bonus, where you can earn $200 bonus after spending $1,000 in eligible purchases within the first 120 days of account opening
The U.S. Bank Cash+® Visa Signature® Card is best for consumers who like the flexibility to choose two 5% cashback categories each quarter. For example, if you’re going to be staying home a lot, you might opt for categories such as cellphone providers and TV, internet, and streaming services. But if you’re planning to go to the movies and eat out, you might select movie theaters and fast food as your 5% categories.
Beware that rewards expire 36 months after the billing cycle in which they are earned. Also know you must enroll in your desired 5% and 2% cashback categories each quarter, otherwise you’ll earn just 1% back.
This card also comes with a solid offer for consumers who are looking to transfer debt from another credit card and pay it down during an introductory APR period. Enjoy 0% Intro APR on balance transfers for the first 15 billing cycles, after which a 16.74% - 26.74% (variable) APR applies. The balance transfer fee is Either 3% of the amount of each transfer or $5 minimum, whichever is greater.
Cardholders with the U.S. Bank Cash+® Visa Signature® Card earn 5% cash back on your first $2,000 in combined eligible purchases each quarter on two categories you choose. 5% cash back on prepaid air, hotel and car reservations booked directly in the Rewards Travel Center. 2% cash back on one everyday category, like Gas Stations/EV Charging Stations, Grocery Stores or Restaurants. 1% cash back on all other eligible purchases. Choose one of these categories to earn an unlimited 2% cash back each quarter:
Then choose two of these categories to earn 5% cash back on your first $2,000 in combined eligible net purchases (up to $100 in cash back per quarter):
There’s also a relatively easy-to-earn sign-up bonus, where you can earn $200 bonus after spending $1,000 in eligible purchases within the first 120 days of account opening
The U.S. Bank Cash+® Visa Signature® Card is best for consumers who like the flexibility to choose two 5% cashback categories each quarter. For example, if you’re going to be staying home a lot, you might opt for categories such as cellphone providers and TV, internet, and streaming services. But if you’re planning to go to the movies and eat out, you might select movie theaters and fast food as your 5% categories.
Beware that rewards expire 36 months after the billing cycle in which they are earned. Also know you must enroll in your desired 5% and 2% cashback categories each quarter, otherwise you’ll earn just 1% back.
This card also comes with a solid offer for consumers who are looking to transfer debt from another credit card and pay it down during an introductory APR period. Enjoy 0% Intro APR on balance transfers for the first 15 billing cycles, after which a 16.74% - 26.74% (variable) APR applies. The balance transfer fee is Either 3% of the amount of each transfer or $5 minimum, whichever is greater.
Earn 5% back at Amazon.com and Whole Foods Market with an eligible Prime membership, 2% back at restaurants, gas stations and drugstores and 1% back on all other purchases. For the sign-up bonus, get a $100 Amazon Gift Card instantly upon approval. The APR is 14.99% to 22.99% variable.
If you have an Amazon Prime membership, getting the Amazon Prime Rewards Visa Signature Card is an easy decision. You’ll earn a generous amount of rewards on Amazon purchases that can be redeemed for a statement credit, electronic deposit into an eligible checking or savings account, gift card, or to cover purchases at Amazon.com. Points can be redeemed at any time and for any amount.
While this card has a $0 annual fee, note that Prime costs $139 a year, or $69 a month for college students. (There are also monthly Prime plans, but they cost more over a 12-month period than the annual plans.)
Without Prime, you’ll only qualify for the Amazon Rewards Visa Signature Card . This card earns a lower rewards rate, at 3% cash back on all your Amazon.com purchases, and 2% cash back at gas stations, restaurants, and drugstores (1% back elsewhere).
Earn 5% back at Amazon.com and Whole Foods Market with an eligible Prime membership, 2% back at restaurants, gas stations and drugstores and 1% back on all other purchases. For the sign-up bonus, get a $100 Amazon Gift Card instantly upon approval. The APR is 14.99% to 22.99% variable.
If you have an Amazon Prime membership, getting the Amazon Prime Rewards Visa Signature Card is an easy decision. You’ll earn a generous amount of rewards on Amazon purchases that can be redeemed for a statement credit, electronic deposit into an eligible checking or savings account, gift card, or to cover purchases at Amazon.com. Points can be redeemed at any time and for any amount.
While this card has a $0 annual fee, note that Prime costs $139 a year, or $69 a month for college students. (There are also monthly Prime plans, but they cost more over a 12-month period than the annual plans.)
Without Prime, you’ll only qualify for the Amazon Rewards Visa Signature Card . This card earns a lower rewards rate, at 3% cash back on all your Amazon.com purchases, and 2% cash back at gas stations, restaurants, and drugstores (1% back elsewhere).
Rather than earning rewards you have to redeem at a later point, the Target REDcard™ Credit Card makes things simple. This card offers 5% off at Target in-store and online. The discount is applied when you check out, and the Target REDcard™ Credit Card‘s annual fee is $0.
Note that some transactions are not eligible for the discount, such as:
If you shop frequently at Target, the Target REDcard™ Credit Card can save you a significant amount of money over time. Just note that because this is a store card, it can only be used at Target and on Target.com. For consumers who prefer linking a bank account rather than making purchases on credit, there’s a debit card version of the card — the Target RedCard Debit Card, which also offers a 5% discount on Target and Target.com purchases for a $0 annual fee.
Rather than earning rewards you have to redeem at a later point, the Target REDcard™ Credit Card makes things simple. This card offers 5% off at Target in-store and online. The discount is applied when you check out, and the Target REDcard™ Credit Card‘s annual fee is $0.
Note that some transactions are not eligible for the discount, such as:
If you shop frequently at Target, the Target REDcard™ Credit Card can save you a significant amount of money over time. Just note that because this is a store card, it can only be used at Target and on Target.com. For consumers who prefer linking a bank account rather than making purchases on credit, there’s a debit card version of the card — the Target RedCard Debit Card, which also offers a 5% discount on Target and Target.com purchases for a $0 annual fee.
The Ink Business Cash® Credit Card is part of the family of Ink business credit cards issued by Chase, and earns generous cash back in several common business spending categories, all for a $0 annual fee.
Cardholders earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn.
There’s also a sign-up bonus for those who can meet a high spend requirement: Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening.
If your business spends a significant chunk of money each year on categories such as office supplies and internet, cable and phone services, this card is a good way to manage expenses. Just be aware of the annual spending caps — $25,000 on purchases earning 5% back and $25,000 on purchases earning 2% back every account anniversary year. After hitting the caps, you’ll earn just 1% back on all purchases. However, if you max out the 5% and 2% categories, that’s a generous $1,750 in cash back.
Also, make sure you’re aware of the Chase 5/24 rule before you apply for this card. If you’ve been approved for five credit cards from any issuer in the past 24 months, Chase is likely to deny your application.
The Ink Business Cash® Credit Card is part of the family of Ink business credit cards issued by Chase, and earns generous cash back in several common business spending categories, all for a $0 annual fee.
Cardholders earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn.
There’s also a sign-up bonus for those who can meet a high spend requirement: Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months from account opening.
If your business spends a significant chunk of money each year on categories such as office supplies and internet, cable and phone services, this card is a good way to manage expenses. Just be aware of the annual spending caps — $25,000 on purchases earning 5% back and $25,000 on purchases earning 2% back every account anniversary year. After hitting the caps, you’ll earn just 1% back on all purchases. However, if you max out the 5% and 2% categories, that’s a generous $1,750 in cash back.
Also, make sure you’re aware of the Chase 5/24 rule before you apply for this card. If you’ve been approved for five credit cards from any issuer in the past 24 months, Chase is likely to deny your application.
Check out our Ink Business Cash® Credit Card review.
No, you won’t find a credit card that earns 5% cash back on all purchases. If you’re looking for a flat-rate credit card, earning 1.5% or 2% cash back on every purchase is more realistic. However, if you’re a regular Target shopper, the Target REDcard™ Credit Card does offer 5% off at Target in-store and online. And the Amazon Prime Rewards Visa Signature Card, which requires an Amazon Prime membership, does offer 5% back at Amazon.com and Whole Foods Market with an eligible Prime membership, 2% back at restaurants, gas stations and drugstores and 1% back on all other purchases. But you won’t earn that high flat rate on purchases made outside those chains.
Yes, there are credit cards that earn 5% cash back on gas purchases. For instance, one of the 2022 quarterly categories for the Discover it® Cash Back is gas stations and Target shopping. (Take note that the 5% rate on this card is limited to $1,500 in purchases per quarter or $75 in cash back, after which your earning rate drops down to 1% on all purchases until a new quarter rolls around.) Or, you can earn up to $400 a year in cash back on gas purchases with the U.S. Bank Cash+® Visa Signature® Card (provided you spend a whopping $8,000 a year if you select the gas category every quarter).
Yes, some credit cards require you to activate new cash back categories on a regular basis, or else you won’t earn 5% cash back. For example, cardholders must activate new rotating categories each quarter with the Chase Freedom Flex℠ and the Discover it® Cash Back. Cardholders typically receive notifications from their card issuers reminding them to activate a new category, and it only takes a few seconds to do so online.
Alexandria is a former credit card writer for LendingTree, covering everything from the latest credit card news, individual card reviews, and Best Of roundups to tips for getting the most value out of your card.
Read MoreThe above offers and/or promotions may have since changed, expired, or is no longer available. Check the Issuers’ website for more details.