The problem with the 2% cards with AF's in year 2 and beyond, is the AF's eat into your returns.
The CapOne Venture and Spark 2% cards have a $59 AF. Even after you've spent $24,000 in a year with an AF being assessed, your actual return is only 1.75%.
Obviously the $400 or $500 sign up bonuses ease that pain, since most no-AF cash back cards don't offer sign up bonuses, or they are meager. And if you hit them hard, you can always get AF waivers. There's also the point that CapOne likes to double or triple pull if you leave your EX out to dry.
The Barclays Arrival+ has an $89 AF or something. You have to spend like $50K/yr during years where the AF is assessed to get anywhere close to a true 2% return. And Barclays isn't known for waiving the AF on the Arrival+. Your better off combining limits on another Barclays card so you can hit up a checking account sign up bonus.
Some of the BofA products are really great (by today's currently available to apply standards) if you have $75K in deposits or retirement/investment accounts. The BofA Travel Rewards becomes an uncapped all around 2.625% cash back card (on travel redemptions) when you have their Platinum relationship rewards or whatever they call it.