Choosing the right rewards credit card from a variety of options can be pretty overwhelming. These cards differ in how they offer rewards, the type of rewards you can earn, and the conditions for earning and redeeming those rewards. Picking the wrong card might mean missing out on benefits or potential savings. Here are our top 10 recommendations for the best rewards cards.
**Chase Sapphire Preferred Card**
The Chase Sapphire Preferred Card stands out with its high rewards rates and flexible redemption options, making it a great choice for frequent spenders, especially on travel and dining. It comes with a reasonable annual fee and is well-known for its generous initial bonus, versatile reward options, and travel benefits.
**Pros:**
– High returns for various spending types
– Multiple travel and shopping protections
**Cons:**
– Annual charge
– No introductory APR offer
**American Express Platinum Card**
Frequent and luxury travelers will appreciate the American Express Platinum Card. It offers premium travel benefits, access to airport lounges, and a variety of rewards, including Membership Rewards points.
**Pros:**
– Bonus categories
– Transfer partners
– Luxury benefits
**Cons:**
– Annual fee of $695
– Complex rewards
– Requires a good credit rating
**Capital One Venture Rewards Credit Card**
The Capital One Venture Card, a top travel card, offers up to 5 miles per $1 spent and a generous 75,000 miles bonus after spending $4,000 in the first 3 months. It’s known for its simple rewards structure, allowing users to earn miles on every purchase.
**Pros:**
– Lower annual fee compared to similar cards
– Annual travel credit through Capital One Travel and anniversary miles justify the annual fee
– Easy to earn and use miles
**Cons:**
– Limited partnerships with domestic airlines and luxury hotels
– No hotel status benefits
**Citi Premier Card**
The Citi Premier Card is a solid travel credit card that also offers rewards on non-travel purchases. It gives 3X points on air travel and hotel stays, plus points on other popular categories like restaurants, supermarkets, and gas stations.
**Pros:**
– Bonus categories
– Rewards don’t expire
**Cons:**
– Annual charges
– Requires good/excellent credit
**Discover It Cash Back**
The Discover It Cash Back card is great for moderate spenders who are willing to activate 5% rotating categories and monitor the quarterly spending cap. It has no annual fee and offers rewarding benefits beyond its constant 1% earning rate.
**Pros:**
– 5% cash back on rotating quarterly spending areas (activation required)
– Discover matches all your earned cash back at the end of your first year
– No minimum cash back redemption
**Cons:**
– 5% bonus cash back rate is limited to $1,500 per quarter
– Rotating bonus categories require quarterly activation
– Base reward rate on all other spending is just 1%
**Bank of America Premium Rewards Credit Card**
The Bank of America Premium Rewards credit card is great for regular travelers looking for flexible card rewards. It has a strong rewards program and travel benefits.
**Pros:**
– Generous initial reward
– More points on travel and dining
– Premium travel benefits
**Cons:**
– Annual fee
– Requires a good credit rating
**Wells Fargo Active Cash Card**
The Wells Fargo Active Cash offers an unlimited 2% cash rewards rate on purchases with no annual fee. It’s one of the best flat-rate cash back cards.
**Pros:**
– High rewards rate
– No annual fees
– Introductory APR period
**Cons:**
– No bonus categories
**Hilton Honors American Express Surpass Card**
Ideal for frequent Hilton guests, this card offers significant points on Hilton spending, along with additional benefits. It includes free Diamond status and various perks at Hilton locations.
**Pros:**
– Over $600 in yearly statement credits
– Free standard night award with no category limits at participating properties
**Cons:**
– High annual fee with no first-year waiver
– High standard and penalty APR
– Points are less valuable than many other rewards programs
**Chase Freedom Unlimited**
The Chase Freedom Unlimited offers a straightforward cash back program with a flat rate on all purchases and no annual fee. Its useful bonus categories, flexible rewards, and great welcome offer make it a top choice among cash-back cards.
**Pros:**
– No annual fee
– Introductory APR period
– High rewards rate
**Cons:**
– Requires a good credit rating
**Southwest Rapid Rewards Premier Credit Card**
The Southwest Rapid Rewards Premier Credit Card is ideal for frequent Southwest flyers, offering bonuses like bonus points and anniversary perks. The rewards and benefits, including a $75 annual travel credit on Southwest, easily outweigh the annual fee.
**Pros:**
– No overseas transaction fee
– Earn points toward A-list status
– Unrestricted reward seats with no blackout dates
**Cons:**
– High standard APR
– No introductory APR offer
– Annual fees
In conclusion, when choosing a credit card, consider your spending habits, travel preferences, and financial goals to find the best match. Remember that terms, conditions, and rewards structures can change, so always check the latest details on the credit card issuer’s website.