Choosing the most rewarding credit card from the vast array available can be perplexing due to varying earning rates, redemption currencies, and rules. However, failure to select one of the top-performing reward credit cards could result in losing out on substantial benefits and potentially substantial cash rewards. Therefore, we’ve selected the top 10 reward cards worth considering.
CHASE SAPPHIRE PREFERRED CARD
This card offers an exceptional combination of high reward rates and diverse redemption options, appealing to frequent spenders on travel and meals. It’s recognized for its sizable sign-up bonus and impressive travel benefits, all for a reasonable annual fee.
PROS & CONS OF CHASE SAPPHIRE PREFERRED CARD
It offers an opportunity to earn high rewards in several spending categories, coupled with several travel and shopping protections. However, it has an annual fee and does not offer an introductory APR.
AMERICAN EXPRESS PLATINUM CARD
For regular travelers craving luxurious experiences, the American Express Platinum Card is an essential asset. It provides premium travel benefits such as airport lounge access and Membership Rewards points.
PROS & CONS OF AMERICAN EXPRESS PLATINUM CARD
It offers bonus reward categories and the ability to transfer partners, alongside various luxury perks. But it comes with a hefty annual fee of $695 and somewhat complicated rewards, requiring good to excellent credit score.
CAPITAL ONE VENTURE REWARDS CREDIT CARD
The Capital One Venture Card, one of the most premium travel cards, offers between 2-5 miles per $1 spent on purchases with a generous initial bonus. Its straightforward rewards structure and compelling bonuses make it a strong competitor among other top-tier credit cards.
PROS & CONS OF A CAPITAL ONE VENTURE REWARDS CREDIT CARD
While the card has a lower annual fee than others in its category, it lacks domestic airline and luxury hotel travel partners as well as hotel status benefits.
CITI PREMIER CARD
The Citi Premier Card earns points on not just travel but other favored categories too, including restaurants, supermarkets, and gas stations. This makes it a worthy choice for frequent spenders.
DISCOVER IT CASH BACK
For cost-conscious spenders willing to follow the 5% rotating categories, the Discover It Cash Back card offers substantial rewards beyond its 1% earning rate.
PROS & CONS OF A DISCOVER IT CASH BACK CARD
While it provides 5% cash back on quarterly rotating spending categories and no minimum cashback redemption, the bonus categories need to be activated quarterly, and there’s a low 1% base reward rate on all other purchases.
BANK OF AMERICA PREMIUM REWARDS CREDIT CARD
For those who travel frequently and are Bank of America customers, the Premium Rewards credit card could be the ideal choice. This credit card offers lucrative rewards programs and travel benefits.
PROS & CONS OF BANK OF AMERICA PREMIUM REWARDS CREDIT CARD
While it provides a sign-up bonus and premium travel protection, it comes with an annual fee and requires a good to excellent credit score.
WELLS FARGO ACTIVE CASH CARD
The Wells Fargo Active Cash card faces stiff competition among top flat-rate cash back cards due to their unlimited 2% cash rewards rate on purchases and no annual fee.
PROS & CONS OF A WELLS FARGO ACTIVE CASH CARD
Despite the high rewards rate and no annual fee, there are no bonus categories.
HILTON HONORS AMERICAN EXPRESS SURPASS CARD
This card is particularly suited for Hilton hotel frequenters, offering substantial points on Hilton purchases and several additional benefits.
PROS & CONS OF A HILTON HONORS AMERICAN EXPRESS SURPASS
While it offers over $600 in statement credits annually and free standard night awards, it dictates a high annual fee and points of comparatively lower value than most rewards programs.
CHASE FREEDOM UNLIMITED
The Chase Freedom Unlimited card features a simple cash-back program with a flat rate on all purchases without any annual fee.
PROS & CONS OF CHASE FREEDOM UNLIMITED CARD
While it provides a high rewards rate and no annual fee, it requires a good to excellent credit score.
SOUTHWEST RAPID REWARDS PREMIER CREDIT CARD
For loyal Southwest Airline passengers, the Southwest Rapid Rewards Premier Credit Card provides perks such as bonus points and anniversary bonuses.
PROS & CONS OF A SOUTHWEST RAPID REWARDS PREMIER CREDIT
While there are no foreign transaction fees and unlimited rewards seats with no blackout dates, it comes with a high regular APR, no intro APR offer, and an annual fee.
It’s necessary to evaluate your spending habits, travel preferences, financial goals, as well as the current terms, conditions, and rewards structures before settling on a card. Always refer to the latest details on the respective credit card issuer’s website.
