Choosing the right rewards credit card can be overwhelming because there are so many options out there. Each card offers different rewards rates, types of rewards, and rules for earning and redeeming points. Picking the wrong one could mean missing out on some great benefits or cash back. Here are the top 10 rewards cards you should consider:
CHASE SAPPHIRE PREFERRED CARD
If you spend a lot on travel and dining, the Chase Sapphire Preferred Card is a great pick. It has high reward rates, flexible redemption options, and a reasonable annual fee. The card’s sign-up bonus and travel perks make it even more attractive.
Pros:
– High rewards for travel and dining
– Good protections for travel and shopping
Cons:
– Yearly fee
– No introductory APR offer
AMERICAN EXPRESS PLATINUM CARD
The American Express Platinum Card is perfect for frequent travelers who enjoy luxury. It offers premium travel benefits, access to airport lounges, and rewards through Membership Rewards points.
Pros:
– Specialized bonus categories
– Transfer partners
– Exclusive perks
Cons:
– High annual fee of $695
– Complicated rewards program
– Requires good/excellent credit
CAPITAL ONE VENTURE REWARDS CREDIT CARD
The Capital One Venture Card is a top choice for travelers, offering 2 to 5 miles per dollar spent and a 75,000-mile bonus if you spend $4,000 in the first three months. Its simple rewards structure makes it easy to earn miles on all purchases.
Pros:
– Reasonable annual fee
– Easy-to-use miles
Cons:
– Limited domestic airline and hotel partners
– No hotel status benefits
CITI PREMIER CARD
The Citi Premier® Card is excellent for travel rewards and also offers great points on non-travel spending. It gives 3X points on hotels, air travel, dining, supermarkets, and gas stations.
Pros:
– Multiple bonus categories
– Lifetime points validity
Cons:
– Annual fee
– Requires good/excellent credit
DISCOVER IT CASH BACK
The Discover It Cash Back card is ideal for moderate spenders willing to track and activate rotating 5% categories and quarterly spending limits.
Pros:
– 5% cash back on rotating categories (needs activation)
– Cashback match at the end of the first year
– No minimum requirement for cashback redemption
Cons:
– $1,500 quarterly cap on the 5% rate
– Quarterly activation required
– Lower 1% rate on other purchases
BANK OF AMERICA PREMIUM REWARDS CREDIT CARD
Regular travelers, especially those with significant Bank of America accounts, will find the Bank of America Premium Rewards card appealing. It offers strong rewards, airline fee credits, and travel benefits.
Pros:
– Attractive sign-up bonus
– More points on travel and dining
– Excellent travel protections
Cons:
– Annual fee
– Requires good/excellent credit
WELLS FARGO ACTIVE CASH CARD
The Wells Fargo Active Cash card offers 2% cash rewards on all purchases with no annual fee, making it a top flat-rate card.
Pros:
– High rewards rate
– No annual fee
– Introductory APR period
Cons:
– No bonus categories
HILTON HONORS AMERICAN EXPRESS SURPASS CARD
Hilton hotel fans will appreciate the Hilton Honors American Express Surpass Card for its generous points on Hilton purchases and added perks.
Pros:
– Over $600 in annual statement credits
– Free night award without category limits
Cons:
– High annual fee
– High standard and penalty APR
– Points value is lower compared to other programs
CHASE FREEDOM UNLIMITED
The Chase Freedom Unlimited card offers a flat rate on all purchases with no annual fee. It features a straightforward cash-back program, useful bonus categories, and an excellent welcome offer.
Pros:
– No annual fee
– Introductory APR period
– High rewards rate
Cons:
– Requires good/excellent credit
SOUTHWEST RAPID REWARDS PREMIER CREDIT CARD
Frequent Southwest Airlines flyers will like the Southwest Rapid Rewards Premier Credit Card. It offers bonus points and anniversary bonuses.
Pros:
– No foreign transaction fee
– Earn points towards A-list status
– Unlimited reward seats with no blackout dates
Cons:
– High standard APR
– No intro APR offer
– Annual fee
To sum up, it’s important to consider your spending habits, travel preferences, and financial goals before applying for any credit card. Always check the latest terms, conditions, and reward structures on the credit card issuer’s website, as these might change.