When it comes to rewards credit cards, you’ve got plenty of options, each with different rates and types of rewards. Comparing them can get a bit tricky due to specific earning and redemption rules. Picking the right rewards credit card is essential; otherwise, you could miss out on valuable benefits and significant savings. Here’s our top 10 rewards credit cards.
CHASE SAPPHIRE PREFERRED CARD
This card combines high reward rates with flexibility in redemption. It’s a great option for folks who spend a lot on travel and dining. You also get a generous sign-up bonus, multiple redemption options, and several travel perks.
Pros:
– High rewards in various spending categories.
– Extensive travel and shopping protections.
Cons:
– Annual fee.
– No introductory 0% APR offer.
AMERICAN EXPRESS PLATINUM CARD
Ideal for frequent travelers who appreciate luxury, this card offers access to premium travel benefits, airport lounges, and a variety of rewards, including Membership Rewards points.
Pros:
– Attractive bonus categories and transfer partners.
– Luxury perks.
Cons:
– A high annual fee of $695.
– Complex rewards structure.
– Requires a good or excellent credit score.
CAPITAL ONE VENTURE REWARDS CREDIT CARD
This premium travel card offers 2–5 miles per dollar spent and a bonus of 75,000 miles after spending $4,000 in the first three months. The reward system is simple, letting users earn miles on every purchase.
Pros:
– Lower annual fee compared to similar cards.
– Annual travel credit and anniversary miles justify the fee.
– Easy to earn and redeem miles.
Cons:
– No partnerships with domestic airlines or upscale hotels.
– No hotel status benefits.
CITI PREMIER CARD
A strong choice for frequent travelers who also spend on non-travel categories, this card offers 3X points on travel and various other categories like restaurants, supermarkets, and gas stations.
Pros:
– Valuable bonus categories.
– Rewards never expire.
Cons:
– Annual fee.
– Requires a good or excellent credit score.
DISCOVER IT CASH BACK CARD
Perfect for moderate spenders willing to track and activate 5% rotating categories under a quarterly spending cap. There’s no annual fee, and it offers substantial rewards outside its standard 1% earning rate.
Pros:
– 5% cash back on changing categories each quarter (activation required).
– Matches all cash back earned at the end of the first year automatically.
– No minimum cashback redemption.
Cons:
– 5% cash back is limited to $1,500 in spending per quarter.
– Bonus categories must be activated quarterly.
– Standard reward rate on other purchases is only 1%.
BANK OF AMERICA PREMIUM REWARDS CREDIT CARD
Great for frequent travelers and those who bank with Bank of America, this card offers strong rewards, airline incidental fee credits, and various travel benefits.
Pros:
– Attractive sign-up bonuses.
– More points on travel and dining.
– High level of travel protection.
Cons:
– Annual fee.
– Requires a good or excellent credit score.
WELLS FARGO ACTIVE CASH CARD
A solid choice for its straightforward 2% cash rewards rate on purchases without an annual fee. It stands out among flat-rate cash back cards.
Pros:
– High rewards rate.
– No annual fee.
– Promotional APR period.
Cons:
– No bonus categories.
HILTON HONORS AMERICAN EXPRESS SURPASS CARD
Great for frequent Hilton guests, this card offers substantial points on Hilton purchases and various benefits. It’s best for high spenders who can maximize the perks, including free Diamond status.
Pros:
– Over $600 in annual statement credits.
– Complimentary standard night award at participating properties.
Cons:
– High annual fee.
– High standard and penalty APRs.
– Reward points have lower value compared to other programs.
CHASE FREEDOM UNLIMITED
This card features a straightforward cash back program with a flat rate on all purchases and no annual fee. Its useful bonus categories, flexible rewards, and generous welcome offer make it a top option for cash-back enthusiasts.
Pros:
– No annual fee.
– Promotional APR period.
– High rewards rate.
Cons:
– Requires a good or excellent credit score.
SOUTHWEST RAPID REWARDS PREMIER CREDIT CARD
Ideal for frequent Southwest Airlines flyers, this card provides benefits like bonus points and anniversary bonuses. Its rewards and perks, along with a $75 annual travel credit on Southwest, make the annual fee well worth it.
Pros:
– No foreign transaction fees.
– Accumulate points toward A-list status.
– Unlimited reward seats with no blackout dates.
Cons:
– High regular APR.
– No intro APR offer.
– Annual fee.
Before applying for any credit card, it’s crucial to assess your spending habits, travel preferences, and financial goals to find the best fit. Make sure to check the latest terms and reward structures on the credit card issuer’s website to stay updated.