When a rewards program or credit card is offering 2% cash back, it means that for every $1 you spend you will earn 2 cents ($0.02) in the form of cash back.
You can calculate 2% cash back multiplying 0.02 by the amount you plan on spending. So if you spend $1,000, it would be $1,000 x 0.02 which equals $20.
Use the 2% cash back calculator below to calculate cash back based on spend.
What's The Best 2% Cash Back Card?
There's no cash back credit card that is considered to be "The Best", but there are credit cards that are better than others. There's not that many 2% cash back credit cards on the market, so your options are really limited.
Depending on your needs, it may be better to grab up one of the many popular 1.5% cash back credit cards or to have one of each.
For example, I use the Citi® Double Cash Card to earn 2% back in the States and use the Capital One Quicksilver Cash Rewards Credit Card, which has no foreign transaction fee, to earn 1.5% back on purchases made when traveling internationally.
- To earn cash back, pay at least the minimum due on time.
- Cash back earned can be converted to the Citi ThankYou Rewards program
- No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
- 0% intro APR on purchases for 15 months; 15.49%-25.49% variable APR after that
- Pay no annual fee or foreign transaction fees
Should I Get A 2% Cash Back Card
I recommend having at least a 1.5% or higher cash back credit card to take care of all miscellaneous purchases that your other cards may earn a lower return on. This will make sure that you're getting the most of your spend and maximizing your rewards.
Are 2% Cash Back Cards With Annual Fees Worth It?
In my opinion, cards that offer a 2% return (whether it's cash back or any other type of rewards) are generally not worth the hassle unless the card is offering additional perks and benefits that a no-annual fee card may not have.
What is 2% cash back?
2% cash back means you will earn 2 cents ($0.02) for every $1 spent.
Are 2% cash back credit cards good?
2% cash back credit cards are among the best rewards cards you can have.
Are there cards that earn higher than 2%?
How much cash back will I earn with a 2% cash back card?
It depends on how much spend you run through the card and whether or not the card has an annual fee. You can use the 2% Cash Back Calculator on this page to calculate total cash back based on your spend.
What's the best 2% cash back card?
Are there 2% points and miles cards?
How do I know what's the best credit card for my spend?
You can use the Search For Credit Cards By Spend calculator to get a list of the best credit cards based on your spend across categories.