8 Best Credit Cards to Use for Everyday Spending

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Most of your daily purchases qualify as everyday expenses. They’re unremarkable and non-impulsive, and you make them without a second thought. They happen at places like the supermarket, gas station, drugstore, quick-service restaurant, and parking meter.

You also make larger purchases that require more planning and forethought, such as travel reservations, date nights, or supplies for various home improvement projects. But a random purchase picked from your credit card statement at random is likelier than not to meet the definition of “everyday.”

For these everyday purchases, you can be rewarded for your spending by using the right cash back credit cards or travel rewards credit cards. These cards earn cash back or travel rewards at flat, predictable rates, with no strings attached and no confusing categories or tiers to keep track of. As long as you use these cards wisely, you can turn your commonplace purchases into extra cash, travel, or merchandise.

Best Credit Cards to Use for Everyday Spending

These are the best credit cards to use for everyday purchases – whatever “everyday” means to you.

1. Citi Double Cash Card

Up to 2% Cash Back on Purchases When You Pay Your Statement Balance in Full Each Month

For those who have no trouble paying their statement balances in full each month, the Citi Double Cash Card is the best everyday spending credit card on this list. That’s due to an unusually generous rewards program that promises a 2% return on all card charges paid in full by the statement due date, and a redemption menu with few strings other than a $25 minimum redemption threshold. Enjoying 2% cash back on every purchase doesn’t get any easier.

Sign-Up Bonus: There’s currently no sign-up bonus. Check this article regularly for the latest offers.
Earning Rewards: Earn 1% cash back at the time of purchase on all eligible purchases made with your card. Then, earn another 1% cash back on payments against your statement balance, provided you pay at least the required minimum payment each month. If you pay your balance in full each month, you’ll earn a 2% rate of return on spending.
Redeeming Rewards: You can redeem your accumulated cash back rewards beginning at the $25 minimum redemption threshold. Redemption options include gift cards, statement credits, bank deposits, and paper checks.
Introductory APR: Pay no interest (0% APR) on balance transfers for 18 months from account opening. Variable regular APR applies after that.
Key Fees: There is no annual fee. Foreign-denominated transactions cost 3% of the transaction amount.
Other Perks: The complimentary Citi Entertainment feature promises preferred access to exclusive presales, tickets to sold-out shows, and VIP experiences at thousands of venues each year.

See our Citi Double Cash Card review for more information. Learn more about this card and find out how to apply here.

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2. Capital One Venture Rewards Credit Card

Unlimited 2x Miles on All Eligible Purchases

The Capital One Venture Rewards Credit Card is one of the most popular travel credit cards on the market. With an early spend bonus worth up to $500 at redemption and unlimited 2 miles per $1 spent on all eligible purchases, it’s no wonder. Venture Rewards is the best everyday spending card for frequent travelers. And unlike most premium travel rewards credit cards, it earns an attractive rate of return on all spending – not just favored traveler-friendly categories like airfare and hotel purchases.

Early Spend Bonus: When you spend at least $3,000 on eligible purchases within the first three months of opening your account, you’ll earn 50,000 bonus miles – worth $500 when redeemed for travel.
Earning Rewards: All eligible purchases earn unlimited 2 miles per $1 spent.
Redeeming Rewards: You can redeem for travel in two ways: statement credits against prior travel purchases or direct travel bookings made through Capital One’s online travel portal. Other redemption options include cash back and gift cards, but travel is the best value.
Introductory APR: None.
Key Fees: The annual fee is $0 for the first year and $95 after that. There is no foreign transaction fee.
Other Perks: Get a statement credit up to $100 against the application fee for one of two travel preclearance memberships: Global Entry or TSA PreCheck.

See our Capital One Venture Rewards Credit Card review for more details. Learn more about this card and find out how to apply here.

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3. Chase Freedom Unlimited Credit Card

Unlimited 1.5% Cash Back on Eligible Purchases; Transfer Points to Travel Partners With a Chase Travel Card

The Chase Freedom Unlimited Credit Card earns unlimited 1.5% cash back on all eligible purchases, with no caps or restrictions on earning potential. A sign-up bonus worth $150 packs an additional punch for new cardholders, who also benefit from a 15-month 0% APR promotion on purchases.

For cardholders with multiple Chase cards, a signature Freedom Unlimited perk is its point transfer program. If you have a premium Chase travel card (Chase Sapphire Reserve or Chase Sapphire Preferred) or a premium Chase business card (Chase Ink Business Cash or Chase Ink Business Preferred), you can transfer loyalty currency earned with your Freedom Unlimited card to any of about a dozen travel loyalty partners at a 1-to-1 ratio. That potentially boosts your points’ value by a factor of two or three, depending on the loyalty partner and eventual redemption method.

Sign-Up Bonus: Earn $150 bonus cash when you spend at least $500 on eligible purchases within the first three months your account is open.
Earning Rewards: Earn unlimited 1.5% cash back on all eligible purchases.
Redeeming Rewards: Redeem in any amount for statement credits, bank account deposits, mailed checks, credits against purchases with Amazon and other merchant partners, gift cards, travel, general merchandise, and more.
Introductory APR: Pay no interest (0% APR) on purchases and balance transfers for 15 months from your account opening date.
Key Fees: There’s no annual fee. Foreign-denominated transactions cost 3% of the total transaction amount.
Other Perks: Enjoy credit-building tools and perks, including a free credit score each week, with Chase Credit Journey. Other benefits include purchase protection on select purchases and complimentary rental car coverage when you pay for the rental in full with your card.

See our Chase Freedom Unlimited Credit Card review for more information. Find out how to apply for this card here.

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4. Capital One Quicksilver Cash Rewards Credit Card

Unlimited 1.5% Cash Back on All Eligible Purchases; Great Shopping Benefits

The Capital One Quicksilver Cash Rewards Credit Card bears more than a passing resemblance to the Chase Freedom Unlimited Credit Card. Its $150 early spend bonus, unlimited 1.5% cash back rate, and 15-month 0% APR window on purchases and balance transfers all match Freedom Unlimited.

Quicksilver has some unique shopping benefits too – notably, Capital One Shopping (a multi-merchant price scanner in the palm of your hand) and Paribus (which may uncover savings on purchases you’ve already made).

Early Spend Bonus: Earn a $150 bonus when you spend at least $500 on eligible purchases within the first three months of opening your account.
Earning Rewards: Earn unlimited 1.5% cash back on all eligible purchases made with your card.
Redeeming Rewards: You can redeem in any amount for statement credits, gift cards, or paper checks. You can also schedule automatic redemptions at the following thresholds: $25, $50, $100, or $200.
Introductory APR: Pay no interest (0% APR) on purchases and balance transfers for 15 months from account opening. You can make qualifying balance transfers at any time during the 15-month introductory window.
Key Fees: There is no annual fee or foreign transaction fee. The balance transfer fee is 3% during the 15-month introductory period and $0 after that.
Other Perks: Use Capital One Shopping to automatically scan hundreds of merchants’ inventories for the best possible pricing. Use Paribus to find opportunities to save on completed purchases. Other benefits include extended warranties on select purchases and complimentary rental car coverage when you pay in full with the card.

See our Capital One Quicksilver Cash Rewards Credit Card review for more details. Find out how to apply for this card here.

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5. Wells Fargo Cash Wise Credit Card

Unlimited 1.5% Cash Back on All Eligible Purchases

The Wells Fargo Cash Wise Credit Card is yet another everyday spending card that offers:

A sign-up bonus worth $150
Unlimited 1.5% cash back on all eligible purchases
0% APR financing on purchases and balance transfers for 15 months from account opening.

If you have a bank account with Wells Fargo, consider opting your Cash Wise card into the bank’s low-cost overdraft protection program.

Sign-Up Bonus: Make $500 in eligible purchases within three months of opening your account to earn a $150 cash bonus.
Earning Rewards: Earn unlimited 1.5% cash back on all eligible purchases.
Redeeming Rewards: Redeem for paper checks, statement credits, or deposits into your Wells Fargo bank account starting at $25. Redeem for ATM cash withdrawals starting at $20.
Introductory APR: Pay no interest (0% APR) on purchases and balance transfers for 15 months.
Key Fees: There’s no annual fee. The foreign transaction fee is 3%.
Other Perks: Wells Fargo bank account holders enjoy low-cost overdraft protection using the Cash Wise card’s cash advance feature. Other benefits include a generous cell phone protection plan and basic travel protections.

See our Wells Fargo Cash Wise Credit Card review for more information. Find out how to apply for this card here.

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6. Bank of America Travel Rewards Credit Card

Unlimited 1.5x Points on All Eligible Purchases

The Bank of America Travel Rewards Credit Card earns 1.5 points per $1 spent on all eligible purchases, travel and otherwise. Like Capital One’s Venture Rewards card, it’s a great everyday spending card for travel enthusiasts. Unlike Venture, it lacks an annual fee. That’s an irresistible proposition for frugal travelers.

There’s also a sign-up bonus worth $250 in the form of a statement credit against prior travel purchases – one of the best sign-up bonuses offered by any no-annual-fee credit card, period.

Sign-Up Bonus: Earn 25,000 online bonus points when you make at least $1,000 in eligible purchases during the first 90 days. That’s enough to redeem for a $250 statement credit against travel purchases.
Earning Rewards: Earn unlimited 1.5 points $1 spent on all eligible purchases.
Redeeming Rewards: Redeem for statement credits against any eligible travel purchase, such as airfare, hotel stays, car rentals, vacation packages, cruises, and incidentals like baggage fees.
Introductory APR: See terms for the most recent rate and fee information.
Key Fees: There’s no annual fee and no international transaction fee.
Other Perks: Bank of America deposit account holders qualify for overdraft protection coverage through the card.

See our Bank of America Travel Rewards Credit Card review for more information. Find out how to apply for this card here.

7. American Express Cash Magnet Card

1.5% Cash Back on All Eligible Purchases

The American Express Cash Magnet Card earns 1.5% cash back on all eligible purchases. A welcome offer worth $150 bonus cash and a 15-month 0% APR promotion on purchases and balance transfers combine to make Cash Magnet a worthy competitor to Freedom Unlimited, Quicksilver, and Cash Wise.

Whether you opt for Cash Magnet or stick to one of its competitors may depend on your issuer preference. If you live in an American Express household, the choice is clear.

Welcome Offer: For a limited time, earn $150 bonus cash back when you make at least $1,000 in eligible purchases within the first three months of card membership.
Earning Rewards: Earn 1.5% cash back on all eligible purchases.
Redeeming Rewards: You can redeem for statement credits in any amount over $25.
Introductory APR: Pay no interest (0% APR) on purchases and balance transfers for 15 months. Qualifying balance transfers must be made within 60 days of account opening.
Key Fees: There’s no annual fee. The foreign transaction fee is 2.7%.
Other Perks: Enjoy exclusive discounts with popular merchants through Amex Offers. Other cardholder benefits include complimentary rental car coverage for loss and damage when you pay for a rental in full with your card, travel accident insurance (subject to limitations and exclusions), extended warranties on certain covered items, and a cell phone protection plan.

See our American Express Cash Magnet Card review for more information. Find out how to apply for this card here.

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8. PayPal Cashback Mastercard

2% Cash Back on All Eligible Purchases

Like the Citi Double Cash Card, the PayPal Cashback Mastercard earns 2% cash back on all eligible purchases. Unlike the Citi Double Cash Card, it comes with a catch: a PayPal account is required to apply.

That’s not the end of the world, but if you don’t want to take the extra step of opening a PayPal account, or if you’d prefer other ways to redeem your rewards, this isn’t your ideal everyday spending card.

Sign-Up Bonus: There’s currently no sign-up bonus. Check this article regularly for the latest offers.
Earning Rewards: Earn 2% cash back on all eligible purchases with your card.
Redeeming Rewards: You can redeem in any amount for deposits into your PayPal account.
Introductory APR: See terms for the latest rate and fee information.
Key Fees. There is no annual fee.
Other Perks: Through Mastercard Global Service, you’ll enjoy emergency card replacement and cash advances, among other vital travel benefits.

Final Word

These everyday spending credit cards are equal opportunity. Their rewards programs don’t discriminate by spending category or transaction type. To them, every dollar has equal value. And that makes them ideal for generalized, everyday spending.

That’s not to say credit cards with more complex rewards programs aren’t useful for everyday spending. If your “everyday” expenses are likely to involve a trip to the supermarket, gas pump, or drugstore, you’d be well-served by a credit card that favors those sorts of purchases.

For all other purchases, you can always turn to a flat-rate credit card like Chase Freedom Unlimited, Capital One Quicksilver, or American Express Cash Magnet.

What’s your favorite credit card for everyday spending?

Editorial Note: The editorial content on this page is not provided by any bank, credit card issuer, airline, or hotel chain, and has not been reviewed, approved, or otherwise endorsed by any of these entities. Opinions expressed here are the author’s alone, not those of the bank, credit card issuer, airline, or hotel chain, and have not been reviewed, approved, or otherwise endorsed by any of these entities.

Published at Tue, 22 Dec 2020 22:36:50 +0000