Several types of rewards credit cards exist, each with its unique earning rates, reward methods, and earning rules. Difficulty arises when comparing these cards, and not selecting one of the optimum options could result in missed benefits or even monetary loss. Here’s our selection of the top 10 reward credit cards.
CHASE SAPPHIRE PREFERRED CARD
Chase Sapphire Preferred Card is a well-rounded option with good rewards rates and a great deal of flexibility for redemptions. Ideal for regular expenditure on travel and dining, it charges a reasonable annual fee. It’s acknowledged for its generous sign-up bonus, multiple redemption choices, and travel benefits. However, drawbacks include the annual fee and absent introductory APR.
AMERICAN EXPRESS PLATINUM CARD
For frequent, luxurious travelers, the American Express Platinum Card is a worthy consideration. It provides premium travel benefits, airport lounge access, and abundance of rewards, incorporating Membership Reward points. Nevertheless, it does come with a $695 annual fee and somewhat complex rewards.
CAPITAL ONE VENTURE REWARDS CREDIT CARD
The Capital One Venture Card is a premium travel card that’s a solid contender against equivalent upscale cards. It allows users to earn miles on each purchase, offering 2 to 5 miles per dollar spent. Despite a lower annual fee than competitors, the absence of domestic airline and upscale hotel partnerships can be a disadvantage.
CITI PREMIER CARD
The Citi Premier Card provides commendable rewards on travel, as well as everyday purchases. Delivering 3X points on travel bookings, restaurants, supermarkets, and gas stations, it does carry an annual fee.
DISCOVER IT CASH BACK CARD
Discover it Cash Back is beneficial for moderate spenders who can keep track of the 5% rotating categories and maintain under the quarterly spending cap. With no annual fee, it can yield substantial rewards, although the bonus cashback is limited to $1,500 a quarter.
BANK OF AMERICA PREMIUM REWARDS CREDIT CARD
The Bank of America Premium Rewards credit card is ideal for recurrent travelers yearning for flexible rewards. This is especially true if they have a considerable balance in their Bank of America accounts. However, there is an annual fee attached.
WELLS FARGO ACTIVE CASH CARD
The Wells Fargo Active Cash card offers an undeviating 2% cash rewards on all purchases, with no annual fee. Although it gives highly competitive cash-back rates, it lacks reward categories.
HILTON HONORS AMERICAN EXPRESS SURPASS CARD
Designed for frequent Hilton hotelers, the Hilton Honors American Express Surpass Card provides significant points and added perks on Hilton reservations. However, a high annual fee and penalty APR are included.
CHASE FREEDOM UNLIMITED
The Chase Freedom Unlimited credit card offers a straightforward cashback program with a matched rate on all purchases and no annual fee. Still, excellent credit is required.
SOUTHWEST RAPID REWARDS PREMIER CREDIT CARD
Frequent fliers with Southwest Airlines may benefit from a Southwest Rapid Rewards Premier Credit Card. This card offers bonuses and anniversary rewards. However, it charges a relatively high regular APR, annual fee, and doesn’t have an introductory APR offer.
In conclusion, it’s essential to analyse your spending patterns, travel preferences, and financial objectives to identify the card best suited for you, before making a credit card application. Be sure to review changes in terms, conditions, and reward structures on the relevant credit card issuer’s website.
