Picking the best rewards credit card can be a bit overwhelming because there are so many options with different earning rates, types of rewards, and rules for redemption. Choosing the wrong one could mean missing out on some serious perks or money. Here are ten highly recommended rewards cards to think about:
1. **Chase Sapphire Preferred Card**: This card is great for big spenders, especially if you travel or dine out a lot. It offers high reward rates and flexible redemption options, plus a nice sign-up bonus and travel perks.
– **Pros**: High rewards for various spending categories and good travel and shopping protections.
– **Cons**: Has an annual fee and no introductory APR offer.
2. **American Express Platinum Card**: Perfect for frequent travelers wanting luxury experiences. It comes with loads of travel benefits, access to airport lounges, and various rewards.
– **Pros**: Great bonus categories, good transfer partners, and luxury perks.
– **Cons**: High annual fee of $695, complicated rewards system, and requires a strong credit score.
3. **Capital One Venture Rewards Credit Card**: This is an excellent choice for travelers, offering 2-5 miles per dollar spent and a hefty 75,000 miles if you spend enough in the first three months.
– **Pros**: Reasonable annual fee and easy-to-earn miles.
– **Cons**: Doesn’t have specific travel partners or hotel status perks.
4. **Citi Premier Card**: Ideal for earning rewards both in travel and other purchases. You get triple points on hotels and airfares, plus categories like dining, supermarkets, and gas stations.
– **Pros**: Good bonus categories and rewards don’t expire.
– **Cons**: Annual fee and needs a good to excellent credit score.
5. **Discover It Cash Back**: Great for moderate spenders who don’t mind activating and tracking 5% rotating categories for big rewards beyond the regular 1% earning rate.
– **Pros**: Rotating quarterly bonus categories and a first-year cashback match.
– **Cons**: Limits on bonuses, need to activate categories, and a low base rate.
6. **Bank of America Premium Rewards Credit Card**: A solid pick for frequent travelers, especially those who bank with Bank of America, with its various travel credits and benefits.
– **Pros**: Attractive sign-up bonus, better rewards on travel and dining, and good travel protections.
– **Cons**: Annual fee and requires a good/excellent credit score.
7. **Wells Fargo Active Cash Card**: Offers an unlimited 2% cash rewards rate on all purchases and no annual fee, making it competitive among flat-rate cashback cards.
– **Pros**: Impressive rewards rate, no annual fee, and introductory APR period.
– **Cons**: No bonus categories.
8. **Hilton Honors American Express Surpass Card**: Ideal for Hilton loyalists, giving substantial rewards on Hilton stays and many other benefits.
– **Pros**: Over $600 in annual statement credits and free standard night rewards.
– **Cons**: High annual fee, high standard and penalty APR, and points have lower value compared to other programs.
9. **Chase Freedom Unlimited**: Notable for its easy cashback program, no annual fee, and useful bonus categories.
– **Pros**: No annual fee, introductory APR period, and high rewards rate.
– **Cons**: Requires a good/excellent credit score.
10. **Southwest Rapid Rewards Premier Credit Card**: Best for regular Southwest Airlines travelers, offering benefits like bonus points and anniversary bonuses.
– **Pros**: No foreign transaction fee, points towards A-list status, and unlimited reward seats.
– **Cons**: High standard APR, no introductory APR offer, and annual fee.
Before you apply for any credit card, take a moment to consider your spending habits, travel needs, and financial goals to find the best fit. Also, be sure to check the issuer’s website for the latest details and changes in terms, conditions, and reward structures.