New Card From FNBO Offers 2% Cash Back On All Purchases

Person sits on rug with computer and credit card. Shoe boxes from an online shopping purchase are in front of them.
•••

Oscar Wong / Getty

The small collection of rewards cards offering 2% back on all purchases just got a bit bigger following a new card announcement Wednesday from First National Bank of Omaha. 

First National Bank of Omaha (FNBO) launched its Evergreen Rewards Visa Card, a no-annual-fee cash-back credit card that offers unlimited 2% back on all purchases. New cardholders won’t pay interest on either purchases or balance transfers for 12 months, which can help spread out the cost of large purchases or reduce the burden of debt repayment. 

Credit cards offering 2% cash back on all purchases instead of the more typical 1.5% back used to be scarce, but that has started to change. The Evergreen Rewards Visa Card is the third card of its kind to debut this year, following the TD Double Up Credit Card and the SoFi Credit Card in March. Along with the well-established Citi Double Cash Card, the three new cards give consumers a way to earn extra cash-back rewards without having to track bonus categories or earning limits.

The new Evergreen Rewards Visa Card squarely competes with those other 2% flat-rate cash-back cards. The card's ongoing purchase APR (18.24%-21.74% variable) is slightly above average, but the limited-time 0% interest period on purchases and balance transfers makes the FNBO card a bit different. The Citi Double Cash and the TD Double Up cards give new cardholders a break on balance transfer interest costs for a limited time, but don’t cut purchase APRs at all. 

Rewards earned with the Evergreen Rewards Visa are issued as points and don’t expire. Points can be redeemed in $25 increments (2,500 points) for a statement credit, bank account direct deposit, or by check.

The Evergreen Rewards Visa is currently open for new online applications. FNBO will launch a small business card version of this product on May 6, according to Wednesday’s news release.