Choosing the right rewards credit card can feel overwhelming with so many options available. Each card offers different reward rates, types of rewards, and rules for earning and redeeming them. Picking the wrong card could mean missing out on valuable benefits or cash back. To help you out, here are the top 10 rewards cards you should consider:
**Chase Sapphire Preferred Card**
This card is great for frequent travelers and diners, offering high reward rates and flexible redemption options at a reasonable annual fee. Plus, there’s a notable sign-up bonus and travel perks.
Pros:
– High rewards on various spending categories
– Extensive travel and shopping protections
Cons:
– Annual fee
– No introductory APR offer
**American Express Platinum Card**
For those who love luxury travel, the American Express Platinum Card is a must. It offers premium travel benefits, access to airport lounges, and lots of rewards, including Membership Rewards points.
Pros:
– Specialized bonus categories
– Transfer partners
– Exclusive luxuries
Cons:
– High annual fee of $695
– Complex rewards program
– Requires good/excellent credit
**Capital One Venture Rewards Credit Card**
The Capital One Venture Card is a top choice for travel, earning 2 to 5 miles per dollar spent and offering a 75,000 miles bonus if you spend $4,000 in the first three months. It’s simple to use and earn miles on all purchases.
Pros:
– Lower annual fee compared to similar cards
– Easy-to-earn and use miles
Cons:
– Limited domestic airline and high-end hotel partners
– No hotel status benefits
**Citi Premier Card**
The Citi Premier Card is excellent for travel and for earning rewards on everyday spending. It gives 3X points on hotels, air travel, and popular categories like dining, groceries, and gas stations.
Pros:
– Multiple bonus categories
– Lifetime validity for rewards
Cons:
– Annual fee
– Requires good/excellent credit
**Discover It Cash Back**
Ideal for moderate spenders, this card offers big rewards if you keep track of and activate the rotating 5% cashback categories.
Pros:
– 5% cash back on rotating categories (with activation)
– Cashback match at the end of the first year
– No minimum cashback redemption
Cons:
– $1,500 quarterly limit for 5% cashback
– Quarterly activation required for bonuses
– Lower 1% reward rate on other purchases
**Bank of America Premium Rewards Credit Card**
This card is great for frequent travelers, especially if you already bank with Bank of America and have significant account balances. It has a strong rewards program, airline fee credits, and travel privileges.
Pros:
– Attractive sign-up bonus
– More points on travel and dining
– Superior travel protections
Cons:
– Annual fee
– Requires good/excellent credit
**Wells Fargo Active Cash Card**
With 2% cash rewards on all purchases and no annual fee, the Wells Fargo Active Cash card is a strong option for flat-rate cash back.
Pros:
– High rewards rate
– No annual fee
– Introductory APR period
Cons:
– No bonus categories
**Hilton Honors American Express Surpass Card**
Hilton loyalists will benefit from this card, which offers significant points on Hilton purchases and additional perks.
Pros:
– Over $600 in annual statement credits
– Free standard night with no category limits
Cons:
– High annual fee without a first-year waiver
– High standard and penalty APR
– Points are less valuable compared to other rewards
**Chase Freedom Unlimited**
This card offers a flat rate on all purchases with no annual fee, and a useful cash back program with bonus categories and a great welcome offer.
Pros:
– No annual fee
– Introductory APR period
– High rewards rate
Cons:
– Requires good/excellent credit
**Southwest Rapid Rewards Premier Credit Card**
Frequent Southwest Airlines flyers will benefit from this card, with perks like bonus points and anniversary bonuses.
Pros:
– No foreign transaction fee
– Earn points towards A-list status
– Unlimited reward seats with no blackout dates
Cons:
– High standard APR
– No intro APR offer
– Annual fee
In summary, it’s important to evaluate your spending habits, travel preferences, and financial goals before choosing a credit card. Always check the latest terms, conditions, and reward structures on the issuer’s website, as they can change.