With a plethora of rewards credit cards available, figuring out the best one can be daunting. Not only do they vary in the types of rewards they provide, but also in how and when you can redeem these rewards. Failure to choose wisely might cause you to miss out on valuable benefits or even actual cash. Here, we’ve selected our top 10 rewards credit cards for your consideration.
1. CHASE SAPPHIRE PREFERRED CARD: The Chase Sapphire Preferred Card is particularly attractive to frequent travelers and diners, boasting high rewards rates and excellent redemption flexibility with a relatively low yearly fee. Key benefits include a substantial sign-up bonus and various travel rewards.
PROS & CONS OF A SAPPHIRE PREFERRED CARD
PROS: High rewards and multiple spending areas, numerous travel, and shopping protections.
CONS: Yearly fee; no initial APR offer.
2. AMERICAN EXPRESS PLATINUM CARD: For jet setters who prefer traveling in luxury, the American Express Platinum Card is a great choice. It provides premier travel perks, access to airport lounges, and a wide spectrum of rewards including Membership Rewards points.
PROS & CONS OF A AMERICAN EXPRESS PLATINUM CARD
PROS: Bonus categories, transfer partners, and luxurious privileges.
CONS: Yearly fee of $695; complex rewards; requires good or excellent credit.
3. CAPITAL ONE VENTURE REWARDS CREDIT CARD: The Capital One Venture Card is a premium travel card offering 2-5 miles per $1 spent on purchases and a 75,000 miles initial bonus for spending $4,000 within the first three months. Its straightforward rewards structure makes it easy for users to accumulate and use miles.
PROS & CONS OF A CAPITAL ONE VENTURE REWARDS CARD
PROS: Lower annual fee than its competitors, easy to earn and utilize miles.
CONS: Limited domestic airline and high-end hotel partners.
4. BANK OF AMERICA PREMIUM REWARDS CREDIT CARD: Frequent travelers needing flexible credit card rewards will appreciate the Bank of America Premium Rewards credit card, particularly if they’re existing Bank of America customers.
PROS & CONS OF A BANK OF AMERICA PREMIUM REWARDS CREDIT CARD
PROS: Sign-up bonus, earn more points on travel and dining, premium travel protection.
CONS: Yearly fee, requires good or excellent credit.
5. WELLS FARGO ACTIVE CASH CARD: The Wells Fargo Active Cash Card offers an unlimited 2% cash rewards rate on purchases and no annual fee, making it a top competitor with other top-tier cash back cards.
PROS & CONS OF A WELLS FARGO ACTIVE CASH CARD
PROS: High rewards rate, no annual fee, intro APR period.
CONS: No bonus categories.
6. HILTON HONORS AMERICAN EXPRESS SURPASS CARD: This card is perfect for Hilton hotel regulars, providing significant points on Hilton purchases and added benefits.
PROS & CONS OF A HILTON HONORS AMERICAN EXPRESS SURPASS CARD
PROS: Over $600 in statement credits annually, Free standard night award at participating properties.
CONS: High yearly fee, high regular and penalty APR, points have lower value relative to most rewards programs.
7. CHASE FREEDOM UNLIMITED CARD: This card boasts a simple cash back program with a flat rate on all purchases and no annual fee, making it popular among cash-back enthusiasts.
PROS & CONS OF A CHASE FREEDOM UNLIMITED CARD
PROS: No annual fee, intro APR period, High rewards rate.
CONS: Requires good or excellent credit.
In summary, finding the right credit card is about understanding your spending behaviors, travel proclivities, and financial objectives. As reward structures can change, remember to verify the most recent details on the respective credit card issuer’s website.
