Credit cards with rewards present a variety of options, making it somewhat difficult to evaluate. They have diverse earning rates, reward types, and guidelines on earning or redeeming points. However, not opting for a top-quality rewards credit card could mean missing out on perks and potential money. Here’s our selection of the top 10 rewards cards.
CHASE SAPPHIRE PREFERRED CARD
The Chase Sapphire Preferred Card offers a valuable combination of high reward rates and flexible redemption, making it ideal for regular expenditure on dining and travel. In addition, it has a reasonable annual fee, a sizeable sign-up bonus, flexible redemption options, and travel rewards.
PROS AND CONS OF A SAPPHIRE PREFERRED CARD
High reward rates on numerous spending areas, along with various travel and shopping protections.
CONS
Annual fee
No introductory APR offer
AMERICAN EXPRESS PLATINUM CARD
If you’re a frequent traveller who enjoys luxurious experiences, the American Express Platinum Card is a must-have. It provides superior travel perks, access to airport lounges, and an array of rewards, including Membership Reward points.
PROS AND CONS OF AN AMERICAN EXPRESS PLATINUM CARD
Offer bonus categories, transfer partners, and luxury perks.
CONS
A hefty annual fee of $695
Complex reward system
Requires good/excellent credit rating
CAPITAL ONE VENTURE REWARDS CREDIT CARD
The Capital One Venture Card, a top-tier travel card, provides 2 – 5 miles per $1 spent on purchases, with a generous bonus of 75,000 miles for spending $4,000 within three months. It’s recognised for its straightforward reward structure, enabling users to earn miles on every purchase.
PROS AND CONS OF A CAPITAL ONE VENTURE CARD
Annual travel credit through Capital One Travel and anniversary miles can offset the annual fee
Miles are simple to earn and use.
CONS
Limited domestic airline and high-quality hotel travel partners
No hotel status benefits
CITI PREMIER CARD
The Citi Premier card is a top-tier travel credit card option, especially for those who wish to maximize rewards on non-travel expenses. It offers 3X points on specific categories such as hotel and air travel, restaurants, supermarkets, and gas stations.
PROS AND CONS OF A CITI PREMIER CARD
Bonus categories, and rewards don’t expire.
CONS
Annual fee
Requires good/excellent credit rating
DISCOVER IT CASH BACK
The Discover It Cash Back card is ideal for moderate spenders who don’t mind keeping track of the 5% rotating categories and the spending cap per quarter. This card comes without an annual fee and can lead to considerable rewards.
PROS AND CONS OF A DISCOVER IT CASH BACK CARD
Offers 5% cash back on rotating spending categories and matches all cash back earned after your first year.
CONS
Limited earning for bonus rates
Quarterly activation required
Low 1% base reward rate
To make an informed decision about a credit card, you need to understand your spending patterns, travel choices, and financial objectives to find the most suitable card. It’s also critical to stay updated with any modifications in terms and conditions and reward structures, so always check the card issuer’s website for the latest details.
