Master List of Credit Cards with 4%/4x+ Rewards

A lot has changed in the two and a half years since the last post about 5%+ cash back cards. This is a (hopefully) comprehensive survey of the current landscape of high-earning rewards cards. For the sake of brevity, important caveats about categories have (generally) not been elucidated and only cards that earn cash back or points with cash value (close to 1 cpp) are included—so no hotel or airline cards. Additionally, cards with limited-time offers are excluded (such as the Wells Fargo Visa Signature card or the discontinued BBVA Compass NBA), as are cards with limited redemption options (such as the CapitalOne BuyPower Card).

You can view our list of best credit cards for certain types of spend here.

If you notice anything missing, have suggestions, or have questions, please drop a comment!

Last updated January 24, 2018.

Personal Cards

Cards with No Annual Fee

% Back / x Points Categories Card Cap (max yr earning)
5x Rotates Quarterly Chase Freedom $1,500 / qtr (30,000 UR)
5% Rotates Quarterly Discover it $1,500 / qtr ($300)
5% Rotates Quarterly Citi Dividend $6,000 / yr ($300)
5% You Choose Options That Rotate Quarterly US Bank Cash+ $2,000 / qtr ($400)
5% Sporting Goods Stores & Gas FNBO Ducks Unlimited None
5% Sporting Goods Stores & Gas FNBO NRA Complete Rewards None
5% Target Target REDcard (Credit & Debit) None(?)
5x Priceline.com Barclaycard Priceline.com Rewards None(?)
5% Hotels through Orbitz App Comenity Orbitz Rewards None(?)
5% Barnes & Noble Barclaycard Barnes & Noble None(?)
5% Mens Wearhouse Synchrony Perfect Fit None(?)

Credit Union Cards

% Back / x Points Categories Card Cap (max yr earning)
5% Everything People Caring More CU MasterCard Platinum Rewards $50 / mo ($600)
5x Airfare PenFed Premium Travel Rewards None
5% Gas Fort Knox FCU Visa Platinum None
5x Gas (pump only) PenFed Platinum Rewards None
5% Rotates Quarterly Nusenda FCU Visa Platinum Cash Rewards $1,500 / qtr ($300)
4x Gas InFirst FCU Visa Rewards Card None(?)
4x Rotates Quarterly Nusenda FCU Visa Platinum Rewards $1,500 / qtr (24,000 points)

Cards with Special Requirements

% Back Categories Card Cap (max yr earning) Special Rqmts
10% Rotates Quarterly Discover it $1,500 / qtr ($750) must be in first 12 consecutive billing periods of card membership (which can span 5 qtrs)
5.5% Costco BankAmericard Cash Rewards $2,500 / qtr ($550) must have Costco Executive membership ($110 / yr), exclusions here, AND be a Platinum Honors client, AND redeem into a Bank of America checking or savings account
5.25% Gas BankAmericard Cash Rewards $2,500 / qtr ($525) must be a Platinum Honors client, AND redeem into a Bank of America checking or savings account
5% Amazon.com Chase Amazon Prime Rewards None must have Amazon Prime ($99 / yr or less)
5% Costco BankAmericard Cash Rewards $2,500 / qtr ($500) must have Costco Executive membership ($110 / yr), exclusions here, AND be a Platinum client, AND redeem into a Bank of America checking or savings account
5% Drugstores, Gas, and Groceries American Express (Old) Blue Cash $50,000 / yr ($2,500) must first spend $6,500 at a rate of 1% on groceries, gas, and select drugstores, and 0.5% on all other purchases
5% Gas (pump only) PenFed Platinum Cash Rewards Plus None must have a qualifying PenFed product, such as an active checking account with $250 in direct deposit per cycle
5% Gas Sam’s Club MasterCard $6,000 / yr ($300) must have Sam’s Club membership ($45 / yr)
5% Gas & Military Base Purchases USAA Cashback Rewards Plus American Express $3,000 / yr ($150) must be a USAA member
4.5% Gas BankAmericard Cash Rewards $2,500 / qtr ($450) must be a Platinum client, AND redeem into a Bank of America checking or savings account
4.5% Costco BankAmericard Cash Rewards $2,500 / qtr ($450) must have Costco Executive membership ($110 / yr), exclusions here, AND be a Gold client, AND redeem into a Bank of America checking or savings account
4.2% Costco BankAmericard Cash Rewards $2,500 / qtr ($420) must have Costco Executive membership ($110 / yr), exclusions here, AND redeem into a Bank of America checking or savings account
4.125x Bank of America Travel Center BankAmericard Travel Rewards None must be a Platinum Honors client
4% Gas Citi Costco Anywhere $7,000 / yr ($280) must have Costco membership ($55 / yr)
4% Costco & Costco.com Citi Costco Anywhere $37,500 / yr ($1500) must have Costco Executive membership ($110 / yr), exclusions here
4% Costco All 2% Visas (whether flat 2% or 2% on wholesale clubs) N/A must have Costco Executive membership ($110 / yr), exclusions here

Cards with an Annual Fee

% Back / x Points Categories Card Annual Fee Cap (max yr earning) Special Rqmts
6% Groceries American Express Blue Cash Preferred $95 $6,000 / yr ($360)
5x Airfare American Express Platinum (all Personal flavors) $450 None
5x Travel First Hawaiian Bank Priority Destinations $50 $6,000 / yr (30,000 Priority Miles)
4.5x Groceries American Express Everyday Preferred $95 $6,000 / yr (27,500 MR) must use card 30 or more times in a billing period

Cards with Enhanced Cash Back when Redeeming Points

Points redemption options that always yield cold, hard cash (or equivalent, such as booked travel) at a defined & consistent rate above 1 point to 1¢ give you enhanced cash back, a term I just made up. In other words, (Points Earned) x (Redemption Avenue’s Cents Per Point) = % enhanced cash back.

The following caveats hold for Chase cards: you must be planning a trip you would pay for with cash, AND you must use Ultimate Rewards points to book travel through the Ultimate Rewards portal for the same price it would’ve cost you otherwise.

The following caveats hold for the American Express Business Platinum: you must be planning a flight you would pay for with cash, AND the flight you are planning must qualify for the 50% Airline Bonus, AND you must use Membership Rewards points to pay for the flight with Pay with Points (via amextravel.com) for the same price it would’ve cost you otherwise.

Similar caveats apply to the FlexPoints program. In all cases, an increased booking cost lowers your enhanced cash back while a decreased booking cost increases your enhanced cash back.

There are no caveats for the American Express Platinum Card for Schwab, which I could easily be convinced into crowning the best “enhancing card” (given a number of assumptions such as you already have a personal Platinum card, etc., etc.).

Note: the Citi ThankYou Premier and Citi Prestige cards would’ve made this list several months ago due to the fact that you could book American Airlines fares through the ThankYou Travel Center at a rate of 1.6¢. Alas, all redemptions are now at a rate of 1.33¢, which will be further reduced to 1.25¢ on July 23, 2017.

Enhanced by the Chase Sapphire Reserve ($450 AF)

The Chase Sapphire Reserve converts points to enhanced cash back at a rate of 1.5%.

% Back Categories Chase Card Annual Fee Cap (max yr earning)
7.5% Rotates Quarterly Freedom $0 $1,500 / qtr ($450)
4.5% Dining & Travel Sapphire Reserve $450 None

Enhanced by the Chase Sapphire Preferred, Ink Plus, or Ink Preferred ($95 AF)

The Chase Sapphire Preferred, Ink Plus, and Ink Preferred convert points to enhanced cash back at a rate of 1.25%.

% Back Categories Chase Card Annual Fee Cap (max yr earning)
6.25% Rotates Quarterly Freedom $0 $1,500 / qtr ($375)

Enhanced by the American Express Business Platinum ($450 AF)

The American Express Business Platinum converts points to enhanced cash back at a rate of 1% plus 35% your points, for each redemption. (From October 5, 2016 thru May 31st, 2017this was 50%. The change from 50% to 35% did not change the list of cards, only the supplementary points potential). Enough redemptions can put you at an enhanced cash back rate of 1.54%. note: continued redemptions (of the “+ #x” portion) eventually converts points to enhanced cash back at a rate of nearly 1.54%.

% Back + x Points Categories American Express Card Annual Fee Cap (max yr earning) Special Rqmts
5% + 1.75x Airfare Platinum (all personal flavors) $450 None None
5% + 1.75x Mercedes-Benz dealerships Mercedes-Benz Credit Card $95 None None
4.5% + 1.575x Groceries EveryDay Preferred $95 $6,000 / yr ($540) must use card 30 or more times in a billing period
3% + 1.05x Airfare Premier Rewards Gold $195 None None
3% + 1.05x Groceries EveryDay Preferred $95 $6,000 / yr ($360) None
3% + 1.05x Gas EveryDay Preferred $95 None must use card 30 or more times in a billing period
3% + 1.05x Gas Mercedes-Benz Credit Card $95 None None

Enhanced by the American Express Platinum Card for Schwab ($450 AF)

The American Express Platinum Card for Schwab converts points to cash (in a linked Schwab brokerage account) at a rate of 1.25¢.

% Back Categories American Express Card Annual Fee Cap (max yr earning) Special Rqmts
6.25% Airfare Platinum (all personal flavors) $450 None None
6.25% Mercedes-Benz dealerships Mercedes-Benz Credit Card $95 None None
5.625% Groceries EveryDay Preferred $95 $6,000 / yr ($337.50) must use card 30 or more times in a billing period

Enhanced by the FlexPoints Program

The FlexPoints program convert points to enhanced cash back at a rate of up to 2¢.

% Back Categories US Bank Card Annual Fee Cap (max yr earning) Notes
up to 6% Restaurants FlexPerks Gold $85 $120,000 / yr (N/A) Cap is on the base rate of 1x, which drops to 0.5x after $120,000 in spending
up to 6% Charitable Donations FlexPerks Travel Rewards $49 $120,000 / yr (N/A) Cap is on the base rate of 1x, which drops to 0.5x after $120,000 in spending
up to 4% Airfare & Gas FlexPerks Gold $85 $120,000 / yr (N/A) Cap is on the base rate of 1x, which drops to 0.5x after $120,000 in spending
up to 4% Category You Spent the Most on Each Billing Cycle: Airfare, Gas, or Groceries FlexPerks Travel Rewards $49 $120,000 / yr (N/A) Cap is on the base rate of 1x, which drops to 0.5x after $120,000 in spending

Enhanced by the Merrill Lynch Travel Portal

% Back Categories Merrill Lynch Card Annual Fee Cap (max yr earning) Notes
up to 5% Everything Octave $950 None When redeemed for airfare

Enhanced by Best Buy

% Back Categories Citi Card Annual Fee Cap (max yr earning) Notes
6% Best Buy My Best Buy & My Best Buy Visa Platinum $0 None(?) must be Elite Plus ($3,500 / year spending at Best Buy); earns 3x at Best Buy which is 6% when converted to Best Buy Reward Certificate
6% Best Buy My Best Buy Visa Gold $59 None(?) those with poor credit get a Visa Gold instead of Visa Platinum; must be Elite Plus ($3,500 / year spending at Best Buy); earns 3x at Best Buy which is 6% when converted to Best Buy Reward Certificate
5% Best Buy My Best Buy & My Best Buy Visa Platinum $0 None(?) earns 2.5x at Best Buy which is 5% when converted to Best Buy Reward Certificate
5% Best Buy My Best Buy Visa Gold $59 None(?) those with poor credit get a Visa Gold instead of Visa Platinum; earns 2.5x at Best Buy which is 5% when converted to Best Buy Reward Certificate

Business Cards

Cards with No Annual Fee

% Back / x Points Categories Card Cap (max yr earning) Special Rqmts
5% Office Supply Stores & Wireless Telephone Services American Express SimplyCash Plus $50,000 / year ($2,500) None
5x Office Supply Stores & Cable TV, Cellular Phone, Internet, and Landline Services Chase Ink Cash $25,000 / year (125,000 UR) None
5x Business Expenses First National Bank Business Edition Visa Card with Absolute Rewards $25,000 / year (125,000 points) None
4% Gas Citi Costco Anywhere Business $7,000 / yr ($280) must have Costco membership ($55 / yr)
4% Costco & Costco.com Citi Costco Anywhere Business $37,500 / yr ($1500) must have Costco Executive membership ($110 / yr), exclusions here

Cards with an Annual Fee

x Points Categories Card Annual Fee Cap (max yr earning)
5x Office Supply Stores & Cable TV, Cellular Phone, Internet, and Landline Services Chase Ink Plus $95 $50,000 / yr (250,000 UR)

Cards with Enhanced Cash Back when Redeeming Points

Enhanced by the Chase Sapphire Reserve ($450 AF)

% Back Categories Chase Card Annual Fee Cap (max yr earning)
7.5% Office Supply Stores & Cable TV, Cellular Phone, Internet, and Landline Services Ink Plus $95 $50,000 / year ($5,000)
7.5% Office Supply Stores & Cable TV, Cellular Phone, Internet, and Landline Services Ink Cash $0 $25,000 / year ($2,500)
4.5% Advertising, Shipping, Travel & Cable, Internet, and Phone Services Ink Preferred $95 $150,000 / year ($9,000)

Enhanced by the Chase Sapphire Preferred, Ink Plus, or Ink Preferred ($95 AF)

% Back Categories Chase Card Annual Fee Cap (max yr earning)
6.25% Office Supply Stores & Cable TV, Cellular Phone, Internet, and Landline Services Ink Plus $95 $50,000 / year ($3,125)
6.25% Office Supply Stores & Cable TV, Cellular Phone, Internet, and Landline Services Ink Cash $0 $25,000 / year ($1,562.50)

Enhanced by the American Express Business Platinum ($450 AF)

% Back Categories American Express Card Annual Fee Cap (max yr earning) Notes
3% + 1.5x Choose One: Advertising, Airfare, Gas, Shipping, & Computer Hardware, Software, and Cloud Computing Business Gold Rewards $175 $100,000 / yr ($6,000)

Enhanced by the American Express Platinum for Schwab ($450 AF)

None exceed 3.75%.

Enhanced by the FlexPoints Program

% Back Categories US Bank Card Annual Fee Cap (max yr earning)
up to 6% Charitable Donations FlexPerks Business Edge Travel Rewards Card $55 None(?)
up to 4% Cellular Phone & Category You Spent the Most on Each Billing Cycle: Airfare, Gas, or Office Supply Stores FlexPerks Business Edge Travel Rewards Card $55 None(?)
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JoeB1Knoobie
JoeB1Knoobie (@guest_1748349)
November 30, 2023 11:11

Perhaps there’s been some update recently, but I have the Chase Saphire Preferred card and it does NOT convert all points to enhanced cash back at a rate of 1.25%. Only donations to charities get 1.25%. Everything else is a flat 1%.

Amanda
Amanda (@guest_1735543)
November 12, 2023 15:27

Another one to add is the Redstone Federal Credit Union Credit card:

5% in cash back rewards on gas and restaurant purchases.

3% in cash back rewards at grocery stores, discount stores, wholesale clubs, utilities, cable, phone and streaming services.

1.5% in cash back rewards on all other purchases.

https://www.redfcu.org/personal/credits-cards/

I am not sure how easy this card is to qualify for for out of state folks, maybe through membership in one of their partner organizations? Just learned about it through Gabriel’s comment here: https://www.doctorofcredit.com/wi-select-pcmcu-credit-card-earn-5-on-all-purchases-up-to-1000-in-spend-per-month/#comment-1733611

Amanda
Amanda (@guest_1732364)
November 8, 2023 00:19

Just discovered this post! I hope there can be an update at some point! Some of these cards aren’t on the 5% cards post, including the People Caring More CU card, definitely intrigued by it..

US Bank Cash+ card is one to add.
Affinity Federal Credit Union’s rewards card gives 5% on bookstores including Amazon, making it a great competitor/alternative to the Amazon credit card.

Shz Won
Shz Won (@guest_1407528)
July 12, 2022 00:24

Time to update this list with the citi custom cash card

LightAcolyte
LightAcolyte (@guest_1148935)
February 23, 2021 02:00

The People Caring More CU MasterCard Platinum Rewards does have an annual fee of $49 that has 6 additional requirements beyond the membership requirements in order to avoid it. So that cuts into the $600 potential maximum cash back.

Matt
Matt (@guest_1034132)
August 11, 2020 09:44

Any update to this list? There hasn’t been an update in a long time to this list. Although it seems as though this list covers most rewards cards in general. I think there are only a couple I could name that are new unless there are more that I don’t know about??

US Bank Altitude Card is 4% on travel and dining. ABOC Platinum Rewards Mastercard is 5% revolving categories.

foobar
foobar (@guest_342130)
January 21, 2017 13:30

I wonder if you’d count things like the various Comenity cards, e.g.:
– Pottery Barn, West Elm, Crate & Barrel: 10% back
– Williams-Sonoma, Pier 1, J. Crew, Bed Bath & Beyond: 5% back

Based on the list at https://www.doctorofcredit.com/comenity-bank-credit-cards-a-list-best-cards-easiest-cards-to-get-approved-for/, there’s probably a few dozen in this category.

bluecat
bluecat (@guest_339492)
January 16, 2017 10:00

About the Schwab 1.25 cents “enhancement” : no one knows yet if it will be subject to taxation. Schwab has been cagey about the issuance of a 1099Misc.

It seems it would be double taxation to be taxed on what is arguably a rebate, but there you go….

jf
jf (@guest_339035)
January 15, 2017 04:14

meant to say roughly 8000, not 4000. forgot about the 50% back part. sheesh. *never 50% lol, but pretty close*

Alex
Alex (@guest_338946)
January 15, 2017 00:49

All %back for Costco and BankAmericard cash rewards look strange, because the regular Costco rebate with this card is 2%. So even for Platinum Honors it will be 3.5% and not 5.5%.
Maybe I am wrong?