Which credit card earns more cash back overall?
Based on identical spending inputs, you’ll earn $165.96 cash back per year with Ally Everyday Cash Back Mastercard and $240.00 with Fidelity Rewards Visa Signature Card. For context, the average annual rewards payout from the cashback credit cards in the investor.com database is $181.73.
The annual rewards payout assumes you charge $1,000 each month spread across the following spending categories: Dining ($145), Entertainment ($134), Gas ($140), Groceries ($198), Travel ($128), Pharmacy ($15), and Other ($240). The dollar amounts for each category are based on consumer spending data collected by the U.S. Bureau of Labor Statistics (i.e., how much the average American spends proportionally across the major credit card rewards categories). But you can — and absolutely should! — customize the inputs based on your actual monthly spending habits, using our rewards calculator.
To ensure the most accurate results possible, the rewards calculations for Ally Everyday Cash Back Mastercard and Fidelity Rewards Visa Signature Card incorporate bonus rewards rates, spending caps, default rewards rates and annual fees, where applicable.
Is the Ally Everyday Cash Back Mastercard good?
The Ally Everyday Cash Back card — currently available by invitation only — has the bones of a decent tiered-rate rewards card. But it lacks meatier perks (like sign-up goodies) and charges a $0-$39 annual fee based on your credit score.
thumb_up Likes
- Competitive rewards on everyday purchases
- No reward spending caps
- Better approval odds for “fair” credit
- No penalty APR for late payments
- No foreign transaction fees
thumb_down Dislikes
- Requires an online or mail-in invitation from Ally to apply
- $0-$39 annual fee based on applicant’s credit
- No sign-up bonus or 0% intro APR balance transfer offer
- Lacks extra cardholder perks
| Category |
Default Rate |
Bonus Rate |
Bonus Spend Cap |
Bonus Spend Period (Months) |
| Gas |
3.00% |
- |
- |
- |
| Travel |
1.00% |
- |
- |
- |
| Dining |
1.00% |
- |
- |
- |
| Entertainment |
1.00% |
- |
- |
- |
| Pharmacy |
3.00% |
- |
- |
- |
| Groceries |
3.00% |
- |
- |
- |
| Other Purchases |
1.00% |
- |
- |
- |
Is the Fidelity Rewards Visa Signature Card good?
The Fidelity Rewards Visa is best for those with long-term savings goals, not short-term cash needs. Every swipe gives you the opportunity to nudge your investment account balances higher, as long as you redeem the cash back in a Fidelity-owned account.
thumb_up Likes
- Rewards encourage saving for the future
- Awards can be deposited into loved ones’ Fidelity accounts
- Rate boost available for qualified Fidelity clients
- Includes Visa Signature benefits
- Charges no foreign transaction fee
thumb_down Dislikes
- No welcome bonus or intro 0% APR on offer
- Requires a Fidelity-owned account to earn top rate
- Reward redemption minimums apply
- Lower cash back rates on other redemption options
- Rate boost requires $250K minimum savings balance
- Requires excellent credit for approval
| Category |
Default Rate |
Bonus Rate |
Bonus Spend Cap |
Bonus Spend Period (Months) |
| Gas |
2.00% |
- |
- |
- |
| Travel |
2.00% |
- |
- |
- |
| Dining |
2.00% |
- |
- |
- |
| Entertainment |
2.00% |
- |
- |
- |
| Pharmacy |
2.00% |
- |
- |
- |
| Groceries |
2.00% |
- |
- |
- |
| Other Purchases |
2.00% |
- |
- |
- |
compare_arrows Compare cash back credit cards
Select and compare two credit cards head to head to see which offers the most bang for your buck.
Read Next
Explore our other articles and reviews:
Methodology
The results of the investor.com Credit Card Rewards Calculator are based on the monthly spending amounts you enter and the annual dollar value of the rewards each credit card program pays per $1 spent. Credit card companies often express this payout amount as a percentage (e.g., 1.5% of every dollar spent) or on a points basis (e.g. ,1.5 points for every dollar spent). We converted all of them to a dollar amount (“Cash Back Per Year”) to make comparing offers easier.
To calculate the amount of cash back you could earn per year, we factored in:
- Spend category inputs: The default dollar values for each “Spend Category” in the Best Cashback Credit Cards tool — gas, groceries, travel, restaurant, entertainment, pharmacy, other — are based on average American spending data from the Consumer Expenditure Surveys from the U.S. Bureau of Labor Statistics. We also include additional spend categories (such as streaming services, online shopping, utilities, transit, Amazon and more) to help you see which rewards cards are most closely aligned with your actual spending patterns. We encourage you to customize the monthly spend inputs for the most accurate results.
- Tiered rewards rates: If a rewards credit card pays higher cashback rates on certain spending categories (also called “Bonus Rewards”), that difference is reflected in the total “Cash Back Per Year” tally.
- Rewards spending caps: Some cards impose category- or time-based limits (monthly, quarterly, annually) that affect the amount of rewards you can earn. For example, a card may pay 3% cash back on groceries on up to $1,000 of spending each quarter, then revert to the base/default rewards rate until the following quarter. We accounted for bonus spending caps and timeframe in the calculations.
- Default rewards rates: Purchases that exceed a spending cap are usually subject to a lower default rewards rate (e.g., 1% or 1.5%). We mathed that out too.
- Annual fees: If a rewards card charges an annual fee, we deducted that amount from the “Cash Back Per Year” total to provide a true accounting of a card’s annual rewards payout.
What’s not included in the “Cash Back Per Year” total is the cash value of any sign-up/introductory bonus. We highlight any Welcome Bonus separately. While sign-up bonuses can be the most lucrative part of getting a new cashback rewards credit card, not everyone will want or be able to do what it takes to earn the extra cash. (It usually requires spending a certain amount in a specified time period after the card is activated.)
