Choosing the right credit card can be confusing because of the different earning rates, redemption options, and rules. But not picking one of the best reward cards could mean missing out on big benefits and cash. So, here’s our list of the top 10 reward cards you should think about:
**Chase Sapphire Preferred Card**
This card is great for anyone who spends a lot on travel and dining. It offers high reward rates, various redemption options, a hefty sign-up bonus, and excellent travel perks, all for a reasonable annual fee.
**Pros & Cons**
– Pros: High rewards in multiple spending categories, travel and shopping protections.
– Cons: Annual fee, no introductory APR.
**American Express Platinum Card**
If you travel a lot and love luxury, this card is perfect. It provides premium benefits like airport lounge access and Membership Rewards points.
**Pros & Cons**
– Pros: Bonus reward categories, transfer partners, luxury perks.
– Cons: High annual fee ($695), complicated rewards, requires a good to excellent credit score.
**Capital One Venture Rewards Credit Card**
This top-tier travel card gives 2-5 miles per $1 spent, plus a generous sign-up bonus. It’s straightforward and offers compelling bonuses.
**Pros & Cons**
– Pros: Lower annual fee than some competitors.
– Cons: No domestic airline or luxury hotel travel partners, no hotel status benefits.
**Citi Premier Card**
The Citi Premier Card earns points not only on travel but also at restaurants, supermarkets, and gas stations, making it great for frequent spenders.
**Discover it Cash Back**
This card is ideal for those who can keep up with the 5% rotating categories, offering strong rewards beyond its 1% base rate.
**Pros & Cons**
– Pros: 5% cash back on rotating categories, no minimum cashback redemption.
– Cons: Bonus categories need quarterly activation, low 1% base reward rate.
**Bank of America Premium Rewards Credit Card**
Perfect for frequent travelers who are also Bank of America customers, this card offers lucrative rewards and travel benefits.
**Pros & Cons**
– Pros: Sign-up bonus, premium travel protection.
– Cons: Annual fee, requires good to excellent credit.
**Wells Fargo Active Cash Card**
This card offers an unlimited 2% cash rewards rate on purchases and no annual fee, making it a strong competitor.
**Pros & Cons**
– Pros: High rewards rate, no annual fee.
– Cons: No bonus categories.
**Hilton Honors American Express Surpass Card**
Best for those who often stay at Hilton hotels, this card offers significant points on Hilton purchases and additional benefits.
**Pros & Cons**
– Pros: Over $600 in annual statement credits, free night awards.
– Cons: High annual fee, points are of lower value compared to other programs.
**Chase Freedom Unlimited**
This card offers a simple cash-back program with a flat rate on all purchases and no annual fee.
**Pros & Cons**
– Pros: High rewards rate, no annual fee.
– Cons: Requires a good to excellent credit score.
**Southwest Rapid Rewards Premier Credit Card**
Great for loyal Southwest Airlines passengers, this card provides perks like bonus points and anniversary bonuses.
**Pros & Cons**
– Pros: No foreign transaction fees, unlimited reward seats with no blackout dates.
– Cons: High regular APR, no intro APR offer, annual fee.
Before choosing a card, think about your spending habits, travel preferences, financial goals, and review the latest terms and conditions from the card issuer’s website.