Max Cash Preferred Card

Rewards by category

Our take

The Max Cash Preferred Card lets you choose your own 5% categories, which is why it shows up at the top of so many SwipeCaddy rankings. You pick two from a list of nine — TV, internet and streaming; fast food; cell phone providers; department stores; home utilities; furniture stores; electronics stores; recreation; and entertainment — and both earn 5%. Underneath that sits an automatic 2% on groceries, dining, and gas, EV charging or ground transportation, with 1% on everything else, all for no annual fee. A $150 bonus after $500 in purchases in the first 90 days rounds it out.

The 5% has a shape worth stating plainly: it applies to the first $2,000 of combined quarterly spend across both chosen categories, then drops to 1%. Combined, not per category — so $2,000 of electronics in a quarter exhausts the entire allowance and leaves your second pick earning 1% for the rest of it. That works out to $8,000 a year at 5%, or $400 in cash back if you fill it, which is a strong ceiling but a ceiling nonetheless. Pick the two categories where your spending is steady rather than the two with the biggest one-time purchases, and let a flat-rate card catch the overflow.

Two caveats before you plan a wallet around it. Distribution is the real catch: Elan Financial Services issues this card only through partner banks and credit unions, so whether you can even apply depends on where you bank — check your own institution before you get attached to the math. And a 3% foreign transaction fee keeps it home. Note too that SwipeCaddy ranks it at its best case, assuming you actually selected the relevant category; it currently tops our department stores, electronics, furniture, and utilities rankings on that basis, but a category you did not pick pays 1%, not 5%.

The math

Run $80 a month of streaming through this card and you're earning about $48 a year at our conservative valuations. There's no annual fee to earn back — everything above the 1% base rate is pure upside.

Where it lands in our rankings: #1 for department stores · #1 for electronics · #1 for furniture

Key benefits

• No annual fee

Common questions

Does Max Cash Preferred Card have an annual fee?

No — Max Cash Preferred Card has no annual fee.

What does Max Cash Preferred Card earn on streaming?

5% on streaming (choose this category; up to $2,000/qtr (combined)).

What rewards does Max Cash Preferred Card earn on everything else?

1% on all other purchases, in Cash Back.

Is the $2,000 quarterly cap per category or across both?

It is combined across both of your chosen categories. The 5% rate covers the first $2,000 of quarterly spend in the two picks together, and anything beyond that earns 1% until the next quarter resets. In practice that is $8,000 a year at 5%, so choose categories with steady recurring spending — streaming, utilities, a phone bill — rather than saving the allowance for one large electronics or furniture purchase that would consume it in a single trip.

Why can't I find an application for the Max Cash Preferred Card?

Because Elan Financial Services does not market it directly. Elan issues the card through partner banks and credit unions, so availability depends entirely on where you bank — some institutions offer it, many do not, and there is no universal public application. Start by checking your own bank's or credit union's credit card page. If it is not offered there, the excellent rate table is simply not reachable for you.