Choosing the best rewards credit cards can be pretty challenging because they come in various forms, have different earning rates, offer various rewards, and have specific rules for earning and redeeming points. If you don’t pick the right one, you could miss out on some excellent benefits and potential savings. Here are the top 10 reward cards to consider.
**Chase Sapphire Preferred Card**
The Chase Sapphire Preferred Card combines high reward rates with flexible redemption options, making it perfect for those who often spend on travel and dining. It’s known for a generous sign-up bonus and travel perks, though it does come with a minor annual fee.
– **Pros**: Earns significant rewards on various expenses, offers many travel and shopping protections.
– **Cons**: Has an annual fee, no introductory APR offer.
**American Express Platinum Card**
The American Express Platinum Card is ideal for frequent travelers who enjoy elite perks like airport lounge access and a variety of rewards, including Membership Rewards points.
– **Pros**: Excellent bonus categories, wide range of transfer partners, deluxe perks.
– **Cons**: High annual fee ($695), complex reward structure, needs a high credit score.
**Capital One Venture Rewards Credit Card**
The Capital One Venture Card is a top choice for travel enthusiasts, offering 2 to 5 miles per dollar spent and a 75,000 miles bonus after spending $4,000 in the first three months. It has a straightforward rewards structure.
– **Pros**: Lower annual fee than competitors, annual travel credit, and anniversary mile rewards.
– **Cons**: Lacks domestic airline and luxury hotel travel partners, no hotel status benefits.
**Citi Premier Card**
The Citi Premier Card is great for travelers and also rewards spending on non-travel expenses, giving 3X points on hotels, air travel, restaurants, supermarkets, and gas stations.
– **Pros**: Offers bonus categories, points never expire.
– **Cons**: Has an annual fee, requires good to excellent credit.
**Discover It Cash Back**
The Discover It Cash Back card is excellent for consistent spenders who don’t mind tracking quarterly spending caps and 5% rotating categories. It has no annual fee and substantial rewards beyond the standard 1% earning rate.
– **Pros**: 5% cash back on rotating quarterly categories with activation, matches all cash back at year-end, no minimum for cashback redemption.
– **Cons**: 5% bonus cashback limit is $1,500 per quarter, bonus categories need activation each quarter, lower 1% base reward rate on other purchases.
**Bank of America Premium Rewards Credit Card**
For frequent travelers seeking flexibility, the Bank of America Premium Rewards card is especially good for existing Bank of America customers, featuring a solid rewards program and travel benefits.
– **Pros**: Generous sign-up bonus, additional points on travel and dining, premium travel protections.
– **Cons**: Requires an annual fee, high credit score needed.
**Wells Fargo Active Cash Card**
The Wells Fargo Active Cash Card offers an unlimited 2% cash rewards rate on purchases without an annual fee, making it competitive with top flat-rate cash back cards.
– **Pros**: High rewards rate, no annual fee, introductory APR period.
– **Cons**: No bonus categories.
**Hilton Honors American Express Surpass Card**
Best for Hilton guests, this card offers hefty points on Hilton purchases and other perks. It’s loaded with advantages for frequent Hilton users.
– **Pros**: Provides over $600 annually in statement credits, offers a free standard night award with no restrictions at participating locations.
– **Cons**: High annual fee without a first-year waiver, high usual and penalty APR, points value is lower than most rewards programs.
**Chase Freedom Unlimited**
The Chase Freedom Unlimited offers a simple cash back program with flat-rate rewards on all purchases and no annual fee. It has handy bonus categories, flexible rewards, and a solid welcome offer.
– **Pros**: No annual fee, introductory APR period, high rewards rate.
– **Cons**: Excellent credit score needed.
**Southwest Rapid Rewards Premier Credit Card**
Perfect for frequent Southwest Airlines flyers, this card offers benefits like bonus points, anniversary bonuses, and $75 annual travel credit on Southwest, justifying its annual fee.
– **Pros**: No foreign transaction fee, gains points towards A-list status, no blackout dates with unlimited reward seats.
– **Cons**: High regular APR, no intro APR offer, annual fee.
Before applying for any card, it’s important to assess your spending habits, travel preferences, and financial goals to find the card that best meets your needs. Always check the latest details on the credit card issuer’s website as terms and reward structures may change.