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Truist Enjoy Cash Card Review

Written by Dayana Yochim
Edited by Carolyn Kimball
Fact-checked by Andrea Coombes

March 14, 2024

Why trust us? Investor.com has no financial relationship with any of the credit card providers whose products we analyze and review. Our opinions are based solely on data and our own extensive independent research — that means unbiased guidance for consumers. Rewards cards in our cashback credit card calculator are listed in descending order according to how much money they pay out annually based on the inputs.

There's one thing that makes Truist Enjoy Cash outshine other cash back cards with similar so-so rewards programs: The 10%-50% cash back boost customers can earn by depositing earnings into a Truist bank account.

The Truist Enjoy Cash credit card application requires making a key upfront decision: How do you want to earn your rewards? There are two options, and at face value*, neither is gonna knock your socks off:

Option 1 - tiered rewards: Earn 3% on gas and EV charging and 2% on groceries and utilities on up to $1,000 in combined bonus category purchases per month, and an unlimited 1% on everything else. Or...

Option 2 - Flat-rate rewards: Earn an unlimited 1.5% cash back on all purchases. (FYI: The investor.com rewards calculator results reflect the 1.5% rewards rate for this card.)

Frankly, neither option is any great shakes when compared to bonus category cards paying as much as 5% in the same categories and flat-rate unlimited 2% cards offered by SoFi, Wells Fargo, Citi and others. Unless you're a Truist banking customer...

*Truist banking customers have the opportunity to boost the value of the cash back they earn by 10% to 50% by redeeming rewards into a eligible Truist personal checking, personal savings, or personal money market account. The Loyalty Cash Bonus percentage is based on the average monthly balance you maintain in the eligible account. (Here's more on the Truist Loyalty Cash Bonus program.)

The basics: Choose how you earn rewards when you apply for the Truist Enjoy Cash credit card: Earn 3% cash back on gas and EV charging and 2% on utilities and groceries (with a combined $1,000 monthly spend cap) — and 1% on all other eligible purchases. Or choose to earn 1.5% on all eligible purchases. New cardholder offer: 0% intro APR on purchases for 12 months after account opening.

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dining Dining

theater_comedy Entertainment

local_gas_station Gas

shopping_cart Groceries

monetization_on Other

local_pharmacy Pharmacy

card_travel Travel

local_shipping Amazon

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local_taxi Transit

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Calculate Cash Back

Truist Enjoy Cash Credit Card

Cashback Per Year

$...

Annual Fee

Welcome Bonus

N/A

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Want to compare more cards? Use our full calculator.

Truist Enjoy Cash Credit Card pros and cons

thumb_up_off_alt Pros

Choice of two rewards programs at sign-up
1.5% rewards plan has no earnings cap
10%-50% rewards booster available for Truist customers
0% intro APR on purchases for new cardholders
No annual fee
No foreign transaction fees

thumb_down_off_alt Cons

$1,000 monthly rewards spending cap on 2% and 3% categories
1% cash back applies to all non-bonus category purchases
No sign-up bonus or balance transfer lovin’
$25 reward redemption minimum applies
Unredeemed cash back expires after five years

Truist Enjoy Cash Credit Card cashback rewards spending categories

The following table shows the cashback rewards rate per $1 spent in the six most common spending categories. The “Bonus Rate” refers to the amount you can earn in excess of the card’s standard rewards rate.

Some cashback cards limit the spending amount eligible for the bonus rate (aka the “Spend Cap”). Once you hit that cap (e.g., $1,500 spending in a particular category during a defined time period), the rewards rate on future purchases in that category reverts to the lower “Default Rate.”

Category	Default Rate	Bonus Rate	Bonus Spend Cap	Bonus Spend Period (Months)
Gas	1.50%	-	-	-
Travel	1.50%	-	-	-
Dining	1.50%	-	-	-
Entertainment	1.50%	-	-	-
Pharmacy	1.50%	-	-	-
Groceries	1.50%	-	-	-
Other Purchases	1.50%	-	-	-

Note: The table above illustrates the 1.5% unlimited cash back rewards option, which we also use in our rewards calculator. The Truist Enjoy Cash Card also offers the choice to earn 3% cash back on gas, 2% cash back on groceries and utility payments (up to $1,000 in combined monthly purchases) and 1% cash back (no cap) on everything else. Customers who deposit earnings into an eligible Truist checking, savings, or money market account will earn a 10% rewards boost automatically, and up to 50%, based on the average monthly account balance.

What we like

The most notable selling point of the Truist Enjoy Cash card is its “Loyalty Cash Bonus” program. Cardholders can get a 10% to 50% bump on rewards earnings by funneling the money into a Truist checking, savings or money market account. The amount depends on your combined balance — less than $25,000 gets a 10% bonus and more than $100,000 qualifies for a 50% boost. FYI: Similar programs are available at other banks. For example, the Bank of America Unlimited Cash Rewards Card comes with up to a 75% rate bump, which raises turns the 1.5% unlimited cash back card into a 2.62% one.

There’s no limit to how much you can earn in rewards within the flat-rate, 1.5% cash back program. Same can’t be said for the tiered-rate Truist card, as explained below.

Flexible redemption options include standards like cash back and a credit card statement credit, as well as travel, and gift cards and merchandise from the Truist Rewards Center. (Just be sure to factor in additional fees and a bunch of other fine print for the latter redemption categories.)

Interest-free purchases for a limited time are available to new cardholders — a sweet deal if you’re into stuff like skirting pesky interest payments.

No annual fee means the cash back you earn starting the day you begin putting charges on the Enjoy Cash card is gravy.

Truist did away with the foreign transaction fee that came with its predecessor’s card, so rest easy when transacting in foreign currencies.

What we don't like

Cardholders are not allowed to switch rewards programs. Even though there are two flavors of rewards offered with the Trust Enjoy Cash card — bonus-category or flat-rate — you're stuck with whichever one you choose on your application.

Lacks some of the niceties you’ll find elsewhere, like a sign-up bonus or balance-transfer deal. If you do decide to transfer a balance or get a cash advance, you’ll pay a 3% and 4% fee (or a $10 minimum), respectively.

There’s a $1,000 monthly combined category spending cap on the card’s 3% gas station and 2% supermarkets/utilities rewards categories. That means the max you can earn at the highest rate is $30 a month, or $33 to $45 if you deposit in a Trust account and snag a cash bonus.

After you hit spending caps, all other purchases are subject to a middling 1% rewards rate for the rest of the calendar month. This is when you start whipping out another rewardier rewards card for purchases.

Sorry: Phone equipment, telegraph services (actually specified in the fine print) and insurance premiums are rewarded at the 1% rate.

You’ve got to rack up at least $25 in rewards before you can redeem the money for a statement credit, electronic deposit or check.

Don’t be a slacker: Cash rewards will expire five years from the date issued. Also, as with most cards, you’ll forfeit it if you cancel the credit card before redeeming what you’ve earned.

The bottom line

Is the Truist Enjoy Cash Credit Card the best rewards card for your wallet? The answer depends entirely on your spending patterns. Let the numbers speak for themselves: Use the investor.com Cashback Credit Card Calculator to see which credit card pays back the highest rewards based on how much you spend each month.

Truist Enjoy Cash Credit Card fine print

All the things you need to know about the Truist Enjoy Cash credit card terms and conditions and rewards program.

Does the Truist Enjoy Cash Credit Card charge an annual fee?

No, there is no annual fee for the Truist Enjoy Cash Credit Card.

tips_and_updates Trivia time!

How common are annual fees? Roughly 17% of the consumer cash back cards we review charge an annual fee. They range from $39 to $99, with an average annual fee of $67.

Does the Truist Enjoy Cash Credit Card offer a welcome bonus?

No, the Truist Enjoy Cash Credit Card card does not currently offer a welcome bonus.

tips_and_updates Fun fact

More than half (55%) of the consumer cash back credit cards we track in the investor.com database offer a welcome bonus, ranging from $30 up to $300. The average sign-up bonus for new cardholders is $197, with the median being $200.

How much cash back can I earn with the Truist Enjoy Cash Credit Card?

The average American that spends $1000 per month will earn $180.00 in cash back per year using the Truist Enjoy Cash Credit Card. For comparison, the average annual rewards payout from the cashback credit cards in the investor.com database is $191.26, and $180 is the median.

These calculations are based on average consumer spending data from the Bureau of Labor Statistics (BLS) and the reward payout rates from the providers we track. Of course, you’re so much more than an average data point (aka “consumer unit,” in BLS parlance). The amount you can earn in cashback rewards using the Truist Enjoy Cash Credit Card depends entirely on your unique spending habits.

Find out exactly how much you’ll rake in with the Truist Enjoy Cash Credit Card by tailoring the spending inputs in the calculator above.

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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.)

About the Editorial Team

Dayana Yochim has been writing (articles, books, podcasts, stirring speeches) about personal finance and investing for more than two decades, focusing on bringing clarity and the occasional comedic aside to what is often a murky, humorless topic. She’s written for NerdWallet, The Motley Fool, HerMoney.com, Woman’s Day, Forbes, Newsweek and others, and been a guest expert on "Today," "Good Morning America," CNN, NPR and wherever they’ll hand her a mic.

Carolyn Kimball is a former managing editor for Reink Media Group and investor.com. Carolyn has more than 20 years of writing and editing experience at major media outlets including NerdWallet, the Los Angeles Times and the San Jose Mercury News. She specializes in coverage of personal financial products and services, wielding her editing skills to clarify complex (some might say befuddling) topics to help consumers make informed decisions about their money.

Andrea Coombes has 20+ years of experience helping people reach their financial goals. Her personal finance articles have appeared in the Wall Street Journal, USA Today, MarketWatch, Forbes, and other publications, and she's shared her expertise on CBS, NPR, "Marketplace," and more. She's been a financial coach and certified consumer credit counselor, and is working on becoming a Certified Financial Planner. She knows that owning pets isn't necessarily the best financial decision; her dog and two cats would argue this point.