There are many rewards credit cards out there, each with different features that can make it tough to compare them. These cards offer a variety of rewards and have different rules for earning and redeeming those rewards. Choosing the wrong card could mean missing out on benefits and monetary perks. Here are our top 10 picks for the best rewards cards.
CHASE SAPPHIRE PREFERRED CARD
The Chase Sapphire Preferred Card is a great mix of high rewards and flexible redemption options. It’s especially good for people who spend a lot on travel and dining, offering a big sign-up bonus and travel benefits for a reasonable annual fee.
Pros:
– High rewards on various purchases
– Extra travel and shopping protections
Cons:
– Annual fee
– No introductory APR offer
AMERICAN EXPRESS PLATINUM CARD
The American Express Platinum Card is a top choice if you want luxury travel perks. It offers access to airport lounges, premium travel benefits, and numerous rewards, including Membership Rewards points.
Pros:
– Bonus rewards categories
– Transfer partners
– Luxurious perks
Cons:
– High annual fee of $695
– Complicated rewards structure
– Requires high credit score
CAPITAL ONE VENTURE REWARDS CREDIT CARD
The Capital One Venture Card is perfect for frequent travelers, offering substantial rewards like a bonus of 75,000 miles for spending $4,000 in the first three months. It’s known for its simple rewards structure, allowing users to earn miles on all purchases.
Pros:
– Lower annual fee than competitors
– Generous annual travel credit through Capital One Travel
– Easy to earn and redeem miles
Cons:
– Limited airline and hotel partner options
– No hotel status benefits
CITI PREMIER CARD
The Citi Premier Card is excellent for earning rewards on everyday expenses. You can get triple points on travel, dining, supermarkets, and gas stations.
Pros:
– Rewarding bonus categories
– Rewards do not expire
Cons:
– Annual fee
– Good/excellent credit score needed
DISCOVER IT CASH BACK
The Discover It Cash Back card is great for moderate spenders who can keep track of the 5% rotating categories. This no-annual-fee card also offers a consistent 1% earning rate and solid rewards.
Pros:
– 5% cash back on rotating categories throughout the year
– Cash back matching for the first year
– No minimum for cash back redemption
Cons:
– Spending limits on bonus categories
– Quarterly activation of bonus categories required
– Lower overall reward rate
BANK OF AMERICA PREMIUM REWARDS CREDIT CARD
This card is a solid choice for frequent travelers seeking flexible rewards and also benefits Bank of America customers. It offers great travel perks and a strong rewards program.
Pros:
– Sign-up bonus
– Extra points on travel and dining
– Premium travel protections
Cons:
– Annual fee
– Good/excellent credit required
WELLS FARGO ACTIVE CASH CARD
The Wells Fargo Active Cash Card offers a generous 2% cash rewards rate on purchases with no annual fee.
Pros:
– High rewards rate
– No annual fee
– Introductory APR offer
Cons:
– No bonus categories
HILTON HONORS AMERICAN EXPRESS SURPASS CARD
This card is ideal for frequent Hilton hotel guests, offering huge points for Hilton purchases and additional benefits.
Pros:
– Annual statement credits worth over $600
– A free standard night at participating properties
Cons:
– High annual fee without a first-year waiver
– High standard and penalty APR
– Lower value points compared to other rewards programs
CHASE FREEDOM UNLIMITED
The Chase Freedom Unlimited card features a flat-rate cash back program on all purchases with no annual fee. It’s known for its flexible rewards and a fantastic welcome offer.
Pros:
– No annual fee
– Introductory APR period
– High rewards rate
Cons:
– Good/excellent credit score required
SOUTHWEST RAPID REWARDS PREMIER CREDIT CARD
This card is perfect for frequent Southwest Airlines flyers, offering benefits like bonus points and anniversary bonuses.
Pros:
– No foreign transaction fee
– Points accumulate towards A-list status
– Unlimited reward seats with no blackout dates
Cons:
– High standard APR
– No introductory APR offer
– Annual fee
Before applying for any credit card, it’s crucial to consider your spending habits, travel preferences, and financial goals to find the card that best suits your needs. Additionally, check the card issuer’s website as terms and conditions, as well as reward structures, may change.