Choosing the right rewards credit card can be tricky because they come in a variety of forms with different earning rates and rewards, each with its own set of rules. Not getting the best can mean missing out on some significant advantages, or even tangible cash rewards. Here’s our selection of the top 10 rewards credit cards.
CHASE SAPPHIRE PREFERRED CARD
The Chase Sapphire Preferred Card blends high rewards rates with flexibility for redemption, making it ideal for those who spend often on travel and dining. It offers a generous sign-up bonus, a range of redemption choices, and travel benefits, with a reasonable annual fee.
PROS & CONS
Bountiful rewards on varied spending
Journey and shopping protections
Drawbacks
Annual fee
No initial APR offer
AMERICAN EXPRESS PLATINUM CARD
The American Express Platinum Card is a must-have for frequent travelers aspiring for classy travel. It extends premium travel benefits, entry to airport lounges, and an assortment of rewards, including Membership Rewards points.
PROS & CONS
Beneficial rewards categories
Transfer partners
Luxury advantages
Drawbacks
Steep annual fee of $695
Complex rewards system
Requires high-standard credit
CAPITAL ONE VENTURE REWARDS CREDIT CARD
The Capital One Venture Card is a premier travel card delivering 2 – 5 miles per $1 spent and a starting bonus of 75,000 miles for spending $4,000 in the initial three months. Known for its simple rewards structure, it lets users earn miles on every purchase.
Pros
Lower annual fee compared to similar cards
Earning and using miles is easy
Drawbacks
Limited domestic flight and high-end hotel travel partners
No hotel status advantages
CITI PREMIER CARD
The Citi Premier® Card is a reliable travel credit card, which is especially beneficial if you want to earn rewards on non-travel expenses. It grants 3X points on hotel and air travel and other desired categories like restaurants, supermarkets, and gas stations.
PROS & CONS
Incentive categories
Enduring rewards
Drawbacks
Annual fee
Requires high-standard credit
DISCOVER IT CASH BACK
The Discover It Cash Back card suits moderate spenders ready to activate the 5% rotating categories and follow the quarterly spending limit. This card grants satisfactory rewards beyond its continuous 1% earning rate.
PROS & CONS
5% cashback on varied categories throughout the year
Automatic cashback match at the end of the first year
No basic cashback redemption
Drawbacks
Limited cashback rate to $1,500 per quarter
Requires activation of bonus categories
Low 1% ordinary reward rate
BANK OF AMERICA PREMIUM REWARDS CREDIT CARD
The Bank of America Premium Rewards credit card is worth consideration by frequent travelers, especially Bank of America customers. The card offers a solid rewards program, airline incidental fee credits, and travel benefits.
PROS & CONS
Welcome bonus
More points on travel and dining
Advanced travel protections
Drawbacks
Annual fee
Requires high-grade credit
WELLS FARGO ACTIVE CASH CARD
The Wells Fargo Active Cash Card provides endless 2% cash rewards on purchases with no annual fee, competing with the top flat-rate cashback cards out there.
PROS & CONS
High rewards rate
No annual fee
Introductory APR period
Drawbacks
No additional reward categories
HILTON HONORS AMERICAN EXPRESS SURPASS CARD
The Hilton Honors American Express Surpass Card is preferable for Hilton hotel fans, offering high points on Hilton purchases and extra benefits.
PROS & CONS
Over $600 yearly statement credits
Free standard night award without category limitations at participating properties
Drawbacks
Steep annual fee without first-year waiver
High regular and penalty APR
Lower reward point value
CHASE FREEDOM UNLIMITED
The Chase Freedom Unlimited card provides a straightforward cashback program with a uniform rate on all purchases and no annual fee.
PROS & CONS
No annual fee
Introductory APR period
High rewards rate
Drawbacks
Requires good/excellent credit
SOUTHWEST RAPID REWARDS PREMIER CREDIT CARD
The Southwest Rapid Rewards Premier Credit Card suits frequent Southwest Airlines travelers, offering benefits like bonus points and anniversary bonuses.
PROS & CONS
No foreign transaction fee
Earn points toward A-list status
Unlimited reward seats, no blackout dates
Drawbacks
High regular APR
No initial APR offer
Annual fee
Before you decide on a credit card, carefully examine your spending habits, travel preferences, and financial goals to identify the card that best fits your needs. Remember, terms and conditions, including reward structures, may change over time, so always refer to the latest information on the issuer’s website.
