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Millionaires use credit cards to pay for purchases, just like many other Americans. You might assume that people with this much money also have ultra-exclusive black cards that are loaded with features. While some certainly do, most of them use credit cards that anyone can apply for.

The Motley Fool Ascent recently surveyed millionaires and non-millionaires about their credit card preferences. Keep reading to find out rich Americans’ favorite type of credit card.

Rich Americans prefer cash back cards

Cash back cards are the favorite type of credit card for millionaire and non-millionaire Americans. Among millionaires, 59% said they had a cash back card, which was the highest total for any type of card.

This type of card is even more popular among non-millionaires, with 72% saying they have one. Credit card preferences are more evenly split among millionaires, as many also use travel cards, balance transfer cards, and gas and grocery cards. But overall, cash back cards are still their No. 1 choice.

Want to see what all the fuss is about — and start earning cash rewards you can send to your bank account every month? Learn more about cash back cards and check out our top picks here.

What makes cash back cards so popular

The great thing about cash back cards is that they’re valuable and easy to use. You can earn quite a bit back with them. Many of the best cash back cards earn as much as 6% on certain purchases and have sign-up bonuses of $200 or more for new cardholders. With the right card, it’s possible to earn $500 per year or more in cash back.

It also takes hardly any time to learn how to use cash back cards. When you pay with one, you earn cash back. You can redeem your cash back via your online account or by calling the card issuer. Redemption options depend on the card, but they normally include:

• A statement credit toward your credit card bill
• A deposit into your bank account
• A gift card purchase (often with a discount on the gift card)

Other types of rewards cards are more limited. Travel cards are useful, but only if you travel often. A store card is only valuable if you’re a frequent shopper there. But anyone can use cash back to save money on a regular basis.

How to get the most out of cash back cards

If you want to open a cash back card, look for one that fits your spending habits. Some cards earn a flat rate of 2% on every purchase. They work well if your spending is pretty balanced and not heavily weighted toward any particular categories.

There are also cash back cards with bonus categories, such as gas, groceries, dining, or entertainment. These are a good choice if you spend heavily in a few specific areas. Or, you can get a 2% card and a card with bonus categories. Then, you can choose whichever card will earn you more cash back when you make purchases.

While cash back cards are beginner-friendly, there’s one important rule to remember: Pay your credit card balance off in full every month. If you don’t pay in full, your card issuer can charge you interest, which will likely outweigh what you earn in cash back. When you pay in full, you won’t be charged interest and can get the maximum value out of your cash back card.

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The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team.The Motley Fool has a disclosure policy.