Navigating the world of rewards credit cards can be pretty daunting with so many options available, each offering different earning rates, reward types, and rules for earning and redemption. It’s important to pick the best cards to avoid missing out on valuable benefits and potentially losing money. Here’s a list of our top ten choices:
1. **Chase Sapphire Preferred Card**: This card offers a great mix of high rewards and flexible redemption options, perfect for those who frequently spend on travel and dining. It also has a reasonable annual fee, a lucrative sign-up bonus, and travel benefits.
– Pros: High rewards on various spending categories, travel and shopping protections.
– Cons: Annual fee, no introductory APR offer.
2. **American Express Platinum Card**: Ideal for frequent travelers who enjoy luxury. It offers exclusive travel perks, airport lounge access, and impressive rewards, including Membership Rewards points.
– Pros: Bonus categories, transfer partners, luxury benefits.
– Cons: High $695 annual fee, complex reward system, requires good/excellent credit.
3. **Capital One Venture Rewards Credit Card**: A top travel card offering 2-5 miles per $1 spent and a bonus of 75,000 miles for spending $4,000 within the first three months. Its straightforward rewards structure is a big plus.
– Pros: Lower annual fee than others in its class, easy to earn and use miles.
– Cons: Limited partnerships with domestic airlines and upscale hotels, no hotel status benefits.
4. **Citi Premier Card**: Great for earning rewards beyond just travel expenses, offering three times the points on categories like hotels, air travel, restaurants, supermarkets, and gas stations.
– Pros: Bonus categories, rewards that don’t expire.
– Cons: Annual fee, requires good/excellent credit.
5. **Discover It Cash Back**: Suitable for modest spenders who can track quarterly spending, offering substantial rewards beyond its standard rate without any annual fee.
– Pros: 5% cash back on quarterly rotating categories, cash back matched at year-end, no redemption minimum.
– Cons: Requires quarterly activation, low 1% base rate for other purchases.
6. **Bank of America Premium Rewards Credit Card**: Ideal for frequent travelers seeking flexible rewards, especially for those with existing Bank of America accounts. Offers solid travel perks and a rewarding program.
– Pros: Sign-up bonus, higher earning rate for travel and dining, premium travel protections.
– Cons: Annual fee, requires good/excellent credit.
7. **Wells Fargo Active Cash Card**: Offers an unbeatable 2% cash back on all purchases with no annual fee, making it competitive with the best flat-rate cash back cards.
– Pros: Attractive rewards rate, no annual fee, introductory APR period.
– Cons: No bonus categories.
8. **Hilton Honors American Express Surpass Card**: Perfect for Hilton fans, offering substantial points on Hilton stays with additional benefits.
– Pros: Over $600 in annual credits, free standard night awards without category limits.
– Cons: High annual fee with no first-year waiver, high base and penalty APRs.
9. **Chase Freedom Unlimited**: Known for its easy-to-understand cash-back program and no annual fee. The card also offers bonus categories, straightforward rewards, and a generous welcome offer.
– Pros: No annual fee, introductory APR period, high rewards rate.
– Cons: Requires good/excellent credit.
10. **Southwest Rapid Rewards Premier Credit Card**: Ideal for regular Southwest flyers, it offers bonus points and anniversary bonuses, making up for its annual fee with rewards and perks.
– Pros: No foreign transaction fees, earns points towards A-list status, unlimited reward seats with no blackout dates.
– Cons: High base APR, no intro APR offer, annual fee.
Before choosing a credit card, consider your spending habits, travel preferences, and financial goals to find the one that suits your needs best. Always check the latest information directly from the credit card issuer, as terms and rewards can change.