American Express and Bread Financial announce new 2% cash-back credit card – CNBC

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American Express and Bread Financial™  have created a new cash-back credit card: The Bread Cashback™ American Express® Credit Card.

In terms of rewards, this is currently the best flat-rate cash-back credit card offered on the American Express network. It also offers very competitive benefits compared to similar products by other issuers.

Here’s what you need to know about the new card, and what else you should consider when it comes to flat-rate cash-back credit cards.

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Introducing the new credit card

Bread Financial, formerly known as Alliance Data, is a financial technology company looking to make consumers’ lives easier by providing simple payment and savings products. The company currently offers a wide variety of co-branded credit cards, but this new venture is considered to be a flagship product, giving consumers the ability to earn 2% cash back on all purchases, which can be received via direct deposit or a statement credit.

And while American Express has earned a reputation for primarily serving high net worth consumers and those with excellent credit scores, Val Greer, executive vice president and chief commercial officer of Bread Financial, tells Select the company’s large amount of consumer data and excellent underwriting practices allow it to provide greater access for the new cash-back product.

Bread Cashback™ American Express® Credit Card details

Bread Cashback™ American Express® Credit Card

On Bread Financial’s secure site

  • Rewards

    2% cash back on all purchases with no limits

  • Welcome bonus

  • Annual fee

  • Intro APR

  • Regular APR

    15.74%, 23.24% or 27.24% 

  • Balance transfer fee

    Either $10 or 5% of the amount of each transfer, whichever is greater.

  • Foreign transaction fee

  • Credit needed



  • No annual fee
  • 2% flat-rate cash back on all purchases
  • Access to American Express benefits and protections


  • No welcome offer

The Bread Cashback™ American Express® Credit Card comes with solid perks for a no-annual-fee card, including:

  • 2% cash back on all purchases, with no limits
  • No annual fee or foreign transaction fees*
  • Discounts through travel partners such as,, LoungeBuddy, Avis and Hertz through American Express
  • Access to American Express benefits, including purchase and return protection, ID theft insurance, Amex Offers and additional dining and entertainment perks

See rates and fees*

Two other card benefits are worth mentioning: Purchase protection — a valuable perk that in recent years has been stripped away from some other credit cards — and return protection, a policy that can help consumers in case they aren’t able to return a product their unsatisfied with. American Express offers the latter benefit on several of its cards, covering up to $300 per claim and up to $1,000 in claims per calendar year.

And while a welcome bonus is a great way to get started with earning rewards on a new credit card, this new cash-back credit card doesn’t currently offer one. Greer, however, tells Select that may change in the future. If you’re interested in earning a welcome bonus on a cash-back credit card, check out Select’s list of best cash-back credit cards — for example, with the Chase Freedom Flex℠ you can earn $200 cash back after you spend $500 on purchases in your first three months from account opening.

Chase Freedom Flex℠

On Chase’s secure site

  • Rewards

    5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate (then 1%), 5% cash back on travel booked through the Chase Ultimate Rewards®, 3% on drugstore purchases and on dining (including takeout and eligible delivery services), 1% cash back on all other purchases

  • Welcome bonus

    $200 cash back after you spend $500 on purchases in your first three months from account opening

  • Annual fee

  • Intro APR

    0% for the first 15 months from account opening on purchases and balance transfers

  • Regular APR

    15.24% to 23.99% variable

  • Balance transfer fee

    Intro fee of either $5 or 3% of the amount of each transfer, whichever is greater, on transfers made within 60 days of account opening. After that, either $5 or 5% of the amount of each transfer, whichever is greater.

  • Foreign transaction fee

  • Credit needed


Terms apply.

Why you should consider a flat-rate cash-back credit card

While travel credit cards tend to get the lion’s share of attention because of their flashy benefits, cash-back cards also provide opportunities for consumers to save on their everyday purchases, and without the added hassle of having to redeem points and miles.

Select calculated how much in cash back the average American consumer could earn in credit card rewards based on their annual spending. We worked with the location intelligence firm Esri, who provided us with a sample annual spending budget of $22,126.

With the Bread Cashback™ American Express® Credit Card, you could end up earning $442 in cash back each year, and the best part is the money can then be withdrawn and used however you’d like, whether you’re setting up an emergency fund or investing in a brokerage account.

Eliminating the hassle of redeeming points and miles and not having to track any bonus categories can be a huge relief for many consumers. And if you’re working with a tight budget, a flat-rate cash-back card can help you passively save money on your monthly expenses.

Bottom line

Information about the Bread Cashback American Express Credit Card has been collected independently by Select and has not been reviewed or provided by the issuer of the card prior to publication.

For rates and fees of the Bread Cashback American Express Credit Card, click here.

Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.

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