When it comes to rewards credit cards, you have plenty of choices, each with different rates and types of rewards. Comparing them can be tricky because of the various earning and redemption rules. Picking the right one is important; otherwise, you might miss out on valuable perks and could lose a lot of money. Here are our top 10 rewards cards:
**Chase Sapphire Preferred Card**
This card is great for travel and dining expenses with high reward rates and flexible redemption options. It offers a generous sign-up bonus, various redemption choices, and travel benefits.
*Pros:*
– High rewards in multiple spending categories.
– Extensive travel and shopping protections.
*Cons:*
– Annual fee.
– No introductory 0% APR.
**American Express Platinum Card**
Designed for frequent travelers wanting luxury, this card grants access to premium travel benefits, airport lounges, and various rewards, including Membership Rewards points.
*Pros:*
– Bonus categories and transfer partners.
– Luxury benefits.
*Cons:*
– High $695 annual fee.
– Complex rewards system.
– Requires a good to excellent credit score.
**Capital One Venture Rewards Credit Card**
This top-tier travel card offers between 2 to 5 miles per dollar spent and a 75,000 miles bonus for spending $4,000 in the first three months, making mile-earning straightforward and redemption easy.
*Pros:*
– Lower annual fee compared to similar cards.
– Annual travel credit and anniversary miles justify the fee.
– Simple mile earning and redeeming process.
*Cons:*
– No partnerships with domestic airlines or high-end hotels.
– No hotel status benefits.
**Citi Premier Card**
Ideal for travelers who want rewards for non-travel expenses too, this card offers 3X points on travel, restaurants, supermarkets, and gas stations.
*Pros:*
– Strong bonus categories.
– Rewards don’t expire.
*Cons:*
– Annual fee.
– Requires good/excellent credit score.
**Discover it Cash Back Card**
Perfect for moderate spenders who can keep up with and activate the 5% rotating categories, this card has no annual fee but offers significant cash back.
*Pros:*
– 5% cash back on rotating categories each quarter (activation needed).
– Matches all cash back earned in the first year.
– No minimum for cash back redemption.
*Cons:*
– 5% reward is capped at $1,500 in spending per quarter.
– Need to activate bonus categories each quarter.
– Base reward rate is only 1%.
**Bank of America Premium Rewards Credit Card**
Excellent for frequent travelers, particularly those who bank with Bank of America, it offers strong rewards, airline fee credits, and various travel perks.
*Pros:*
– Attractive sign-up bonuses.
– More points for travel and dining.
– High travel protection level.
*Cons:*
– Annual fee.
– Needs a good/excellent credit score.
**Wells Fargo Active Cash Card**
This card provides a consistent 2% cash rewards rate on purchases with no annual fee, making it a solid choice among flat-rate cash back cards.
*Pros:*
– High rewards rate.
– No annual fee.
– Introductory APR period.
*Cons:*
– No special bonus categories.
**Hilton Honors American Express Surpass Card**
Great for those who frequently stay at Hilton hotels, it offers strong points on Hilton purchases and many additional benefits, though it has a high annual fee.
*Pros:*
– Over $600 in annual statement credits.
– Free night awards with no category restrictions.
*Cons:*
– High annual fee, no first-year waiver.
– High standard and penalty APRs.
– Rewards are less valuable compared to other programs.
**Chase Freedom Unlimited**
This card features a straightforward cash back program with a flat rate on all purchases and no annual fee. Its bonus categories and welcome offer make it a top choice for cash-back cards.
*Pros:*
– No annual fee.
– Introductory APR period.
– Competitive rewards rate.
*Cons:*
– Requires good/excellent credit score.
**Southwest Rapid Rewards Premier Credit Card**
Ideal for frequent Southwest Airlines flyers, this card provides bonus points, anniversary bonuses, and a $75 annual travel credit with Southwest, balancing out the annual fee.
*Pros:*
– No foreign transaction fees.
– Points count toward A-list status.
– Unlimited reward seats with no blackout dates.
*Cons:*
– High regular APR.
– No introductory APR offer.
– Annual fee.
**Conclusion**
Before applying for any credit card, assess your spending habits, travel preferences, and financial goals to find the best fit. Always check the latest terms and reward structures on the credit card issuer’s website as they might have updated information.