There are plenty of rewards credit cards out there, each offering different rewards rates, types of rewards, and rules for earning or redeeming them. Picking the right one is crucial to maximizing benefits and potential cash back. Here are our top 10 rewards cards.
1. **Chase Sapphire Preferred Card**: This card stands out for its high rewards rates and flexible redemptions, making it a great choice for those who frequently spend on travel and dining. It has a reasonable annual fee, a generous sign-up bonus, and various travel perks.
* **Pros**: High rewards for multiple spending categories and extensive travel and shopping protections.
* **Cons**: Has an annual fee and no introductory APR.
2. **American Express Platinum Card**: Perfect for frequent travelers who appreciate luxury, this card offers premium travel benefits, lounge access, and rewards through Membership Rewards points.
* **Pros**: Great bonus categories, transfer partners, and luxury perks.
* **Cons**: High $695 annual fee, a complex rewards system, and requires good/excellent credit.
3. **Capital One Venture Rewards Credit Card**: This card offers substantial travel benefits with a straightforward rewards structure. Earn between 2 – 5 miles per dollar spent and get a bonus of 75,000 miles after spending $4,000 in the first 3 months.
* **Pros**: Lower annual fee than other premium cards, annual travel credit, and easy-to-earn miles.
* **Cons**: Limited local airline and upscale hotel partners, no hotel status benefits.
4. **Citi Premier Card**: A versatile choice for earning on both travel and non-travel purchases, this card gives you 3X points on hotels, air travel, restaurants, supermarkets, and gas stations.
* **Pros**: Strong bonus categories and rewards that do not expire.
* **Cons**: Has an annual fee and requires good/excellent credit.
5. **Discover it Cash Back**: Ideal for moderate spenders who can track and activate 5% rotating categories. It offers substantial rewards with no annual fee.
* **Pros**: Quarterly 5% cash back, end-of-year matched cash back, and no minimum cash back redemption.
* **Cons**: $1,500 spending limit for the 5% cash back, categories must be activated quarterly, and low 1% earning rate for non-bonus categories.
6. **Bank of America Premium Rewards Credit Card**: Great for frequent travelers, especially those who already bank with Bank of America. It offers robust rewards, airline fee credits, and various travel perks.
* **Pros**: Attractive sign-up bonus, high points on travel and dining, and comprehensive travel protections.
* **Cons**: Carries an annual fee and requires good/excellent credit.
7. **Wells Fargo Active Cash Card**: This card provides an unlimited 2% cash rewards rate with no annual fee, making it a strong competitor among top flat-rate cash back cards.
* **Pros**: High rewards rate, no annual fee, and an introductory APR period.
* **Cons**: No bonus categories.
8. **Hilton Honors American Express Surpass Card**: Tailored for regular Hilton customers, this card offers high points on Hilton spending and other benefits. Despite its high fee, it provides significant benefits to frequent Hilton users.
* **Pros**: Over $600 in annual statement credits and a free standard night at select properties.
* **Cons**: High annual fees with no first-year waiver, high APRs, and lower value points compared to other rewards programs.
9. **Chase Freedom Unlimited**: Features a straightforward cash back program with a uniform rate on purchases and no annual fee. It’s attractive due to its bonus categories, flexible rewards, and excellent welcome offer.
* **Pros**: No annual fee, introductory APR period, and high rewards rate.
* **Cons**: Requires good/excellent credit.
10. **Southwest Rapid Rewards Premier Credit Card**: Best for frequent Southwest Airlines travelers, offering benefits like bonus points and a yearly bonus. The $75 annual travel credit on Southwest, along with earning points towards A-list status, makes the fee worthwhile.
* **Pros**: No foreign transaction fees, ability to accumulate points for A-list status, and unlimited reward seats.
* **Cons**: High standard APR, lacks intro APR offer, and has an annual fee.
In conclusion, always consider your spending habits, travel needs, and financial goals when choosing a credit card. Make sure to stay informed about the terms and conditions and the reward structures provided by the credit card issuer.