Which credit card earns more cash back overall?
Based on identical spending inputs, you’ll earn $187.72 cash back per year with Credit One Platinum X5 Visa and $154.20 with Discover it Chrome Gas & Restaurant. 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 Credit One Platinum X5 Visa and Discover it Chrome Gas & Restaurant incorporate bonus rewards rates, spending caps, default rewards rates and annual fees, where applicable.
Is the Credit One Platinum X5 Visa good?
A 5% cash back rate normally sets our hearts aflutter. Then we saw the $95 annual fee, $5,000 annual bonus spending cap on a limited number of eligible spending categories, and 1% default rewards rate on everything else. FYI: Better terms can be had with other 5% cash back cards.
thumb_up Likes
- Pays 5% cash back (on certain purchases)
- Rewards automatically applied to account as a statement credit each month
- Offers prequalification, which doesn't ding your credit
- Free credit score access (with registration)
- Account periodically reviewed for credit line increases
- Up to 10% rewards rate from participating retailers
thumb_down Dislikes
- $5,000 annual cap on spending that qualifies for 5% rate
- $95 annual fee requires spending $1,900 (at the 5% cashback rate)
- 1% cash back default rate is underwhelming
- Requires “average - excellent” credit for approval
- Charges 3% foreign transaction fee
- High APR on purchases (as in, avoid carrying a balance)
- Potentially very low initial credit limit ($500 minimum) based on your credit
- No welcome bonus or 0% intro APR deals
Category |
Default Rate |
Bonus Rate |
Bonus Spend Cap |
Bonus Spend Period (Months) |
Gas |
1.00% |
5.00% |
$5,000 |
12 |
Travel |
1.00% |
- |
- |
- |
Dining |
1.00% |
- |
- |
- |
Entertainment |
1.00% |
- |
- |
- |
Pharmacy |
1.00% |
- |
- |
- |
Groceries |
1.00% |
5.00% |
$5,000 |
12 |
Other Purchases |
1.00% |
- |
- |
- |
Is the Discover it Chrome Gas & Restaurant good?
For the first year of card ownership Discover it Chrome effectively pays 4% cash back on gas and grocery purchases by matching your earned rewards dollar-for-dollar. Beyond the honeymoon period, we think there are better cards if you're looking for a long-term rewards card relationship.
thumb_up Likes
- Automatic 2% cash back on gas and restaurants spending
- Dollar-for-dollar match on all earned rewards at the end of your first year
- 0% intro APR for on purchases and balance transfers
- No foreign transaction fee
- Accepted lots of places. Really!
thumb_down Dislikes
- 2% applies only to first $1,000 on gas/dining per quarter
- Low 1% cash back applies to all other purchases
- Limited upside after year one bonus is paid out
- Less competitive rewards structure than competition
Category |
Default Rate |
Bonus Rate |
Bonus Spend Cap |
Bonus Spend Period (Months) |
Gas |
1.00% |
2.00% |
$1,000 |
3 |
Travel |
1.00% |
- |
- |
- |
Dining |
1.00% |
2.00% |
$1,000 |
3 |
Entertainment |
1.00% |
- |
- |
- |
Pharmacy |
1.00% |
- |
- |
- |
Groceries |
1.00% |
- |
- |
- |
Other Purchases |
1.00% |
- |
- |
- |
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Select and compare two credit cards head to head to see which offers the most bang for your buck.
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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.)