There are many rewards credit cards out there, each with its own perks, making it tough to compare them. They offer different types of rewards and have varying rules for earning and redeeming those rewards. Picking the wrong card might mean missing out on benefits and cash rewards. Here are our top 10 recommendations for the best rewards cards.
CHASE SAPPHIRE PREFERRED CARD
The Chase Sapphire Preferred Card offers high rewards and flexible redemption options, making it great for those who spend a lot on travel and dining. It comes with a significant sign-up bonus and travel perks for a modest annual fee.
Pros:
– High rewards on many purchases
– Extra travel and shopping protections
Cons:
– Annual fee
– No introductory APR offer
AMERICAN EXPRESS PLATINUM CARD
The American Express Platinum Card is perfect for those seeking luxury travel benefits. It provides access to airport lounges, premium travel perks, and 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 ideal for frequent travelers, offering substantial rewards and a 75,000 miles bonus for spending $4,000 in the first three months. It’s known for its simple rewards structure, awarding miles on all purchases.
Pros:
– Lower annual fee than competitors
– Generous annual travel credit
– 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. It offers triple points on travel, dining, supermarkets, and gas stations.
Pros:
– Rewarding bonus categories
– Rewards do not expire
Cons:
– Annual fee
– Requires good/excellent credit score
DISCOVER IT CASH BACK
The Discover It Cash Back card is great for moderate spenders who track and activate the 5% rotating categories. It has no annual fee and offers significant rewards beyond its consistent 1% earning rate.
Pros:
– 5% cash back on rotating categories
– Cash back matching feature 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
The Bank of America Premium Rewards credit card suits frequent travelers who want flexible rewards, especially existing Bank of America customers. It offers excellent travel benefits and a strong rewards program.
Pros:
– Sign-up bonus
– Extra points on travel and dining
– Premium travel protections
Cons:
– Annual fee
– Requires good/excellent credit
WELLS FARGO ACTIVE CASH CARD
The Wells Fargo Active Cash Card offers a straightforward 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
The Hilton Honors American Express Surpass Card is perfect for frequent Hilton hotel customers, offering generous points for Hilton purchases and additional benefits.
Pros:
– Annual statement credits worth over $600
– Free standard night at participating properties
Cons:
– High annual fee without a first-year waiver
– High standard and penalty APR
– Points have less value compared to other rewards programs
CHASE FREEDOM UNLIMITED
The Chase Freedom Unlimited card offers a flat-rate cash back on all purchases with no annual fee. It’s notable for its flexible rewards and a great welcome offer.
Pros:
– No annual fee
– Introductory APR period
– High rewards rate
Cons:
– Requires good/excellent credit score
SOUTHWEST RAPID REWARDS PREMIER CREDIT CARD
The Southwest Rapid Rewards Premier Credit Card is perfect for frequent Southwest Airlines flyers, offering perks like bonus points and anniversary bonuses.
Pros:
– No foreign transaction fee
– Points count 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 important to look at your spending habits, travel preferences, and financial goals to find the card that fits you best. Also, check the card issuer’s website for updates on terms, conditions, and reward structures.