Choosing the right rewards credit card can be tricky with so many options, earning rates, and reward types out there. Missing out on the right card can mean losing valuable benefits or cash gains. Here are our top 10 picks for the best rewards credit cards.
CHASE SAPPHIRE PREFERRED CARD
The Chase Sapphire Preferred Card is perfect if you frequently spend on travel and dining. It boasts high reward rates, flexible redemption options, and a generous sign-up bonus along with various travel perks.
PROS:
– Excellent rewards for multiple spending areas
– Plenty of travel and shopping protections
CONS:
– Annual fee
– No introductory APR offer
AMERICAN EXPRESS PLATINUM CARD
For those who love luxury travel, the American Express Platinum Card is a must. It provides exclusive travel benefits, access to airport lounges, and a plethora of rewards, including Membership Rewards points.
PROS:
– Bonus categories
– Transfer partners
– Luxury benefits
CONS:
– $695 annual fee
– Complex rewards system
– Requires good/excellent credit
CAPITAL ONE VENTURE REWARDS CREDIT CARD
The Capital One Venture Card is a premier travel card offering 2–5 miles per dollar spent and a welcome bonus of 75,000 miles after spending $4,000 in the first three months. Its straightforward rewards structure makes earning and using miles a breeze.
PROS:
– Low annual fee
– Offers annual travel credit and anniversary miles
– Simple miles earning and usage
CONS:
– No partnerships with domestic airlines and luxury hotels
– No hotel status benefits
CITI PREMIER CARD
The Citi Premier® Card is great for travelers who also want to earn points on daily purchases. It offers benefits for spending at restaurants, supermarkets, and gas stations.
PROS:
– Bonus categories
– Rewards that never expire
CONS:
– Annual fee
– Requires good/excellent credit
DISCOVER IT CASH BACK
The Discover It Cash Back card suits average spenders willing to track rotating 5% cash back categories and a quarterly spending cap. With no annual fee, this card offers significant rewards beyond the consistent 1% earning rate.
PROS:
– 5% cash back on rotating categories each quarter (requires activation)
– Discover matches all your cash back at the end of your first year
– No minimum for cash back redemption
CONS:
– 5% bonus cash back capped at $1,500 per quarter
– Bonus categories need activation each quarter
– Base reward rate is only 1%
BANK OF AMERICA PREMIUM REWARDS CREDIT CARD
Perfect for frequent travelers and Bank of America customers, this card offers flexible rewards, airline fee credits, and various travel benefits.
PROS:
– Sign-up bonus
– High points for travel and dining
– Premium travel protections
CONS:
– Annual fee
– Requires good/excellent credit
WELLS FARGO ACTIVE CASH CARD
Offering an unlimited 2% cash rewards rate on purchases, the Wells Fargo Active Cash is a competitive flat-rate cash back card with no annual fee.
PROS:
– High reward rate
– No annual fee
– Introductory APR period
CONS:
– No bonus category rewards
HILTON HONORS AMERICAN EXPRESS SURPASS CARD
Ideal for frequent Hilton guests, this card offers significant points on Hilton purchases along with other perks. It comes with a high annual fee but provides complimentary Diamond status and other valuable benefits.
PROS:
– Over $600 in annual statement credits
– Free standard night award at participating properties
CONS:
– High annual fee
– High regular and penalty APR
– Lower point values compared to other rewards programs
CHASE FREEDOM UNLIMITED
The Chase Freedom Unlimited card stands out for its simple cash back program, charging a flat rate on all purchases with no annual fee. Its bonus categories, flexible rewards, and enticing welcome offer make it a strong contender.
PROS:
– No annual fee
– Intro APR period
– High rewards rate
CONS:
– Requires good/excellent credit
SOUTHWEST RAPID REWARDS PREMIER CREDIT CARD
Meant for frequent Southwest Airlines travelers, this card provides bonuses and anniversary rewards. The annual fee is offset by perks like a $75 annual travel credit from Southwest.
PROS:
– No foreign transaction fee
– Earn points towards A-list status
– Unlimited reward seats with no blackout dates
CONS:
– High regular APR
– No intro APR offer
– Annual fee
IN CONCLUSION
Before applying for a credit card, consider your spending habits, travel preferences, and financial goals to find the best fit. Check the credit card issuer’s website for the latest terms, conditions, and reward structures.