Choosing the right rewards credit card can be a daunting task due to the numerous options available, each featuring different earning rates, reward currencies, and unique rules regarding earning and redemption. It’s essential that you select an ideal card, or risk forfeiting valuable benefits and potential earnings. Here, we highlight 10 impressive reward cards under consideration.
CHASE SAPPHIRE PREFERRED CARD
The Chase Sapphire Preferred Card certainly stands out, boasting high reward rates combined with flexible redemption options. It’s a perfect match for those who often spend on travel and dining, offering a reasonable annual fee, a generous sign-up bonus, travel benefits, and adaptable redemption choices.
PROS & CONS OF SAPPHIRE PREFERRED CARD
PROS:
High rewards on several spending categories
Numerous travel and shopping protections
CONS:
Annual fee
No introductory APR offer
AMERICAN EXPRESS PLATINUM CARD
The American Express Platinum Card is a must-have for frequent travellers desiring premium benefits. With access to airport lounges, a wide set of rewards including Membership Reward points, it ensures a luxurious travel experience.
PROS & CONS OF AMERICAN EXPRESS PLATINUM CARD
PROS:
Bonus categories
Transfer partners
Luxury benefits
CONS:
$695 annual fee
Complex reward system
Good/excellent credit requirement
CAPITAL ONE VENTURE REWARDS CREDIT CARD
The Capital One Venture Card is a top-tier travel card with a straightforward reward structure, offering between 2 – 5 miles per dollar spent. Initial bonuses include impressive 75,000 miles after spending $4,000 within the first three months.
PROS & CONS OF CAPITAL ONE VENTURE REWARDS CARD
PROS:
Reasonable annual fee compared to other premium cards
Annual travel credit and anniversary miles
Easy earning and using of miles
CONS:
Limited domestic airline and upscale hotel travel partners
No hotel status benefits
CITI PREMIER CARD
The Citi Premier Card is an appealing travel credit card that also rewards for non-travel expenses. The card offers 3X points on hotels, air travel, restaurants, supermarkets, and gas stations.
PROS & CONS OF A CITI PREMIER CARD
PROS:
Bonus categories
No expiry on rewards
CONS:
Annual fee
Good/excellent credit requirement
DISCOVER IT CASH BACK
The Discover It Cash Back card rewards moderate spenders willing to activate the 5% rotating and track the quarterly spending cap. This card charges no annual fee and offers impressive cashback rewards.
PROS & CONS OF DISCOVER IT CASH BACK CARD
PROS:
5% cashback on rotating spending categories per quarter (activation needed)
Automatic cashback match at the end of the first year
CONS:
Limited bonus cashback
Quarterly activation required for bonus categories
Low 1% base reward rate on all other purchases
BANK OF AMERICA PREMIUM REWARDS CREDIT CARD
Frequent travellers seeking reward flexibility should consider the Bank of America Premium Rewards card. This card offers an appealing rewards program, airline incidental fee credits, and travel benefits, especially for existing Bank of America customers.
PROS & CONS OF BANK OF AMERICA PREMIUM REWARDS CREDIT CARD
PROS:
Sign-up bonus
Higher points earned on travel and dining
Premium travel protections
CONS:
Annual fee
Good/excellent credit requirement
WELLS FARGO ACTIVE CASH CARD
The Wells Fargo Active Cash Card offers an attractive 2% cash rewards rate on purchases with no annual fee – making it a strong contender among flat-rate cash back cards.
PROS & CONS OF WELLS FARGO ACTIVE CASH CARD
PROS:
High rewards rate
No annual fee
Introductory APR period
CONS:
No bonus categories
HILTON HONORS AMERICAN EXPRESS SURPASS CARD
Frequent Hilton guests will appreciate the Hilton Honors American Express Surpass Card, which provides hefty points on Hilton purchases and added benefits.
PROS & CONS OF HILTON HONORS AMERICAN EXPRESS SURPASS CARD
PROS:
Over $600 in statement credits annually
Free standard room with no category limits at participating properties
CONS:
High annual fee with no first-year waiver
High regular and penalty APR
Points carry lower value than most programs
CHASE FREEDOM UNLIMITED
The Chase Freedom Unlimited offers a simple cash-back program with a flat rate on all purchases and no annual fee. It’s a top contender among cash-back cards due to its helpful bonus categories, flexible rewards, and appealing welcome offer.
PROS & CONS OF CHASE FREEDOM UNLIMITED CARD
PROS:
No annual fee
Introductory APR period
High rewards rate
CONS:
Good/excellent credit requirement
SOUTHWEST RAPID REWARDS PREMIER CREDIT CARD
The Southwest Rapid Rewards Premier Credit Card is suitable for frequent Southwest Airlines flyers, featuring benefits such as bonus points, anniversary bonuses, and tier-qualifying points for A-list status with every purchase.
PROS & CONS OF SOUTHWEST RAPID REWARDS PREMIER CREDIT CARD
PROS:
No foreign transaction fee
Earns points towards A-list status
Unlimited rewards seats with no blackout dates
CONS:
High regular APR
No introductory APR offer
Annual fee
In conclusion, before applying for any credit card, it’s critical to evaluate your spending, travel preferences, and financial goals. Ensure you choose a card that aligns with your needs. Furthermore, the terms and conditions and reward structures might have changed, so always check the up-to-date details on the credit card issuer’s website.
