Just stumbled upon another 2% card to add to the list.
It's geofenced, however.
Texas Dow Employee's Credit Union Onyx Mastercard.
Low 9.50% APR.
Rewards paid annually, which is a little bit of a downer but similar to how I've heard some pay. (I believe I heard that the Randolph-Brooks FCU card pays that way, maybe others.)
Membership restricted to 30 Texas counties including several large population centers. Of course, also open to Texas Dow Chemical company employees, family members and some SEG's (Selected Employer Groups) of companies that Dow Chemical serves.
Standard exclusions apply** but also amusing that it excludes any Buc-ees Fuel purchase, which operates a popular chain of very large and rather unique combination stores-gas stations-truck stops. 
Probably the exclusion since they also offer a Buc-ee's-branded card. Buc-ee's operates in Texas, Alabama, and Georgia and is expanding across the southeast.
**Qualifying Purchases do not include Balance Transfers, Cash Advances, ATM Cash Disbursements, Money Transfers, Gaming Transactions, Tax Payments, Finance Charges, Fees and purchases of other cash equivalents, even if used to purchase goods or services, any Buc-ees fuel purchase. Non-Qualifying Purchases do not earn any Rewards.
@Anonymous wrote:-2.5% cash back card: MIDFLORIDA Credit Union Visa Signature Card.
-3% cash back (first year) and 2.5% after: Farmers Insurance Federal Credit Union Crystal Visa Signature Card.
-2% cards: Capital One Venture Rewards Card, New York Community Bank 2% Cash Back Visa Card.
@Anonymous wrote:
Popular Bank Preferred World Mastercard Card is a 2% cash back card.
Welcome to My Fico Forums, @Anonymous.
Thanks for those additions to the list. There's a lot of caveats about some of these that I wanted to point out, though.
MIDFLORIDA Credit Union Visa Signature Card (2.5% cash back card)
This is probably the best addition on your list for those who can apply, but it's strictly geofenced to mid-florida. Card has a $100 SUB for just $2K spend, no AF, no minimum redemption, and a flat 2.5% cash back with some Visa Signature benefits. However, it has a very limited audience due to the geofencing.
Also offering 3.99% APR on balance transfers for up to 24 months. FTF is 1%.
Farmers Insurance Federal Credit Union Crystal Visa Signature Card. (3% cash back (first year) and 2.5% after)
The 3% uncapped in year one with a waived AF is great, although it doesn't beat the AOD FCU Visa at permanent 3% with permanent no-AF. It offers a $100 SUB although the $5K spend is rather high to qualify. Purchase APR is 0% for six months. Minimum redemption $50. No FTF.
Starting in year two, the AF is $99 and the earnings drop to 2.5%. At this point, the card becomes comparable to the Alliant CU Visa Signature card with a similar structure. While 2.5% sounds great on paper, it takes $19,800 in annual spending before that extra half percent earns more than a basic no-AF 2% card. Cards like these are best suited to someone with not only high spending but someone who is willing to commit to using the card on a regular basis to make it worthwhile. So you could out-earn a basic 2% cash back card at higher spending, but you'd never beat the 2.5% from Mid-Florida CCU or 3% from AOD FCU.
New York Community Bank Visa (2% Cash Back)
Although I've researched the 2% or better cards, this was one I hadn't heard of before so I'm not sure how long it's even been offered. Thanks for pointing it out. It seems to be a good flat-rate 2% card.
Between NY Community Bank and its' subsidiaries (Garden State Community Bank, Ohio Savings Bank, and Amtrust Bank), it operates in New York, New Jersey, Florida, Ohio, and Arizona.) While the banking appears strictly geofenced, the credit cards may not be. Similar to how Elan Financial (a subsidiary of US Bancorp and sister of US Bank) is a card agent for many smaller lenders around the country, the cards for these lenders are managed by First Card which is a major card agent subsidiary of First National Bank of Omaha. So in essence, with these cards, you would probably be getting a similar product offered by FNBO. However, I have heard that FNBO has previously geofenced some of its' products, so this might be a way around the geofence.
Popular Bank Preferred World Mastercard (2% cash back)
Popular Bank, the mainland domestic subsidiary of Puerto Rican bank Banco Popular, is strictly geofenced to parts of New York, New Jersey, and Florida. Unlike the above example with New York Community bank, there isn't a way to apply for a credit card if you don't already have a banking relationship. And you can't establish a banking relationship if you live out-of-geofence. (I tried to test it.)
Even worse than the above example that gets 2.5% with a $99 AF, this card charges a $95 AF with only a 2% return. As a result, it takes $19,500 annual spending before it even starts to pull away from a basic no-AF 1.5% cash back card and it will never catch a flat 2% no-AF card. Since it's not really a 2% net return card, it doesn't belong on the list of 2% cards, IMO.
Capital One Venture Rewards Card (2% card)
Like other AF travel cards, this card really doesn't belong on the 2% or better cash back list for several reasons.
- You can't simply get "cash" back from Venture; you can transfer to partners, or offset travel purchases on your card. Not cash.
- While it does earn 2% per dollar, it also carries a $95 AF. The only credit against the AF is TSA Global Entry (up to $100 once every 4 years) so the effective AF at-best is $70. ($100/4 = $25; $95-25 = $70.)
- If you only ever offset travel charges on your card, you aren't ever getting a full 2% back since the points are worth 1ccp and you're working against the burden of the AF. Returns will always be less than 2%.
- If you transfer to travel partners, theoretically it's possible to exceed 1ccp so you might get more than 2% back, depending on your ability to redeem. The Points Guy website estimates you can redeem Venture points for up to 1.4 ccp for an estimated maximum return of 2.8%. Working against the burden of the AF, it still takes $12K in annual spending before that 2.8% return pulls ahead of a no-AF flat 2% card in earnings. But again, that 2.8% is not cash back; it's travel points. And OP's topic was cash back, not points, which are a whole different animal.
@longtimelurker wrote:Looking at @Aim_High comments above about geo fencing I decided to look at some local CUs to see what cards they have. It seems that several have the Max Cash (I guess Elan is doing well) but I also came across this membership statement:
Membership in this corporation is limited to those who are employees or retired employees of the Town of Brookline, employees of the credit union and any person who lives or works in the Town of Brookline or has retired from employment in the Town of Brookline and members of the families of all such persons.
One Thousand other persons who live or work outside of the Town of Brookline and their families may also become members. Family shall mean: individuals who are related as father, mother, son, daughter, brother, sister, uncle, aunt, cousin, nephew, niece, spouse, grandfather, grandmother, grandchild, father-in-law, mother-in-law, son-in-law, daughter-in-law, brother-in-law, sister-in-law, stepfather, stepmother, stepson, stepdaughter, stepbrother, stepsister, half brother or half sister.
So I guess the charter had to include some "extras" for some reason. No indication now if those places have been filled (and for those so inclined, imagine the details! What happens if one of those thousand moves into Brookline, does that open a place etc)
But, does it offer a good credit card. Apparently, yes!
Brookline Municipal VISA Credit Card offers very competitive rates, flexible terms and great benefits to help you get what you want, when you want it.
There are many credit cards out there, but very few stack up to value BMCU VISA Credit Card provides.
But no details apart from a link to Verified By Visa. But wait, they also offer an Amex:
Brookline Municipal American Express Credit Card offers very competitive rates, flexible terms and great benefits to help you get what you want, when you want it.
With NO more details, and, wiithout the "very few stack up" language, perhaps it is worse!
Hmmmmm ... very interesting, @longtimelurker. I've looked at a lot of CU membership charters but have never seen one specifically addressing a certain number outside the geofence! Quite unique.
I doubt the cards are as unique, however! While the average consumer probably doesn't think twice about those nebulous rewards and benefits descriptions, those of us on My Fico go ... Huh?!?! 
What do you mean that's all you have to tell me about your card? Quite simply, when I see these descriptions, I know they probably have nothing to brag about and probably aren't as "competitive" or "great" as they try to sound!