Choosing the right rewards credit card can be pretty overwhelming with all the available options out there, each having different earning rates, rewards, and rules. If you don’t carefully consider top-rated cards, you might miss out on great benefits or even significant cash rewards. Here’s our pick of the top 10 rewards cards.
CHASE SAPPHIRE PREFERRED CARD
The Chase Sapphire Preferred Card is great for those who frequently spend on travel and dining. It offers attractive reward rates and flexibility in how you can use your rewards, all for a low annual fee. It’s also known for its generous sign-up bonus, versatile redemption options, and travel benefits.
PROS:
– Strong rewards in several categories
– Many travel and shopping protections
CONS:
– Annual fee
– No introductory APR offer
AMERICAN EXPRESS PLATINUM CARD
The American Express Platinum Card is ideal for frequent travelers who enjoy luxury. It provides premium benefits like airport lounge access and plenty of rewards, including Membership Rewards points.
PROS:
– Rewards in various categories
– Transferable points to partners
– Luxury perks
CONS:
– High annual fee of $695
– Complicated reward structure
– Needs a good/excellent credit score
CAPITAL ONE VENTURE REWARDS CREDIT CARD
The Capital One Venture Card is a fantastic travel card, providing 2-5 miles per dollar spent and an initial bonus of 75,000 miles after spending $4,000 in the first three months. Its straightforward rewards system lets you earn miles on all purchases.
PROS:
– Lower annual fee than competitors
– Annual travel credit and anniversary miles
– Simple miles earning and redemption
CONS:
– Limited partner airlines and high-end hotel options
– No specific hotel status benefits
CITI PREMIER CARD
For those seeking a travel card that also rewards everyday spending, the Citi Premier® Card is a good choice. It offers triple points on hotels, air travel, and other popular categories like restaurants, supermarkets, and gas stations.
PROS:
– Rewards in bonus categories
– Non-expiring points
CONS:
– Annual fees
– Good/excellent credit score required
DISCOVER IT CASH BACK
The Discover It Cash Back card suits moderate spenders who can activate 5% rotating categories each quarter. With no annual fee, it offers significant rewards beyond its standard 1% earning rate.
PROS:
– 5% cashback in varying categories (with activation)
– Matches all cash back earned at the end of the first year
– No minimum cashback redemption
CONS:
– $1,500 limit for 5% cashback per quarter
– Bonus categories need quarterly activation
– 1% base reward rate
BANK OF AMERICA PREMIUM REWARDS CREDIT CARD
The Bank of America Premium Rewards card is a versatile option for regular travelers, especially those who are Bank of America customers with large balances. It offers a solid rewards program, airline fee credits, and travel benefits.
PROS:
– Attractive sign-up bonus
– More points on travel and dining
– Excellent travel protections
CONS:
– Annual fees
– Requires good/excellent credit score
WELLS FARGO ACTIVE CASH CARD
The Wells Fargo Active Cash card offers a flat 2% cashback on all purchases with no annual fee, making it highly competitive among cash back cards.
PROS:
– High rewards rate
– No annual fees
– Introductory APR period
CONS:
– No bonus reward categories
HILTON HONORS AMERICAN EXPRESS SURPASS CARD
Frequent Hilton guests will benefit from the Hilton Honors American Express Surpass Card, earning substantial points on Hilton purchases and other perks. While it has a high fee, high spenders get valuable benefits, including complimentary Diamond status.
PROS:
– Over $600 in yearly statement credits
– Free night award at eligible properties
CONS:
– High annual fee
– High regular and penalty APR
– Lower points value compared to many other programs
CHASE FREEDOM UNLIMITED
The Chase Freedom Unlimited card gives a flat cashback rate on all purchases with no annual fee. It’s a great choice thanks to its flexible rewards and appealing welcome bonus.
PROS:
– No annual fees
– Introductory APR period
– High rewards rate
CONS:
– Good/excellent credit score required
SOUTHWEST RAPID REWARDS PREMIER CREDIT CARD
If you often fly with Southwest Airlines, the Southwest Rapid Rewards Premier Credit Card is tailored for you. It offers bonus points, anniversary bonuses, a $75 annual travel credit, and can help you earn A-List status based on your spending.
PROS:
– No foreign transaction fees
– Earn points towards A-List status
– Unlimited rewards with no blackout dates
CONS:
– High regular APR
– No introductory APR offer
– Annual fee
BOTTOM LINE:
Before applying for any credit card, consider your spending habits, travel preferences, and financial goals to choose the best one. Remember, terms and rewards can change, so check the current details on the credit card issuer’s website.