Choosing the right rewards credit card can be confusing due to the range of options, different earning rates, and varied reward currencies. Missing out could deny you certain benefits or valuable cash gains. Here are our top 10 picks for the best rewards credit cards.
CHASE SAPPHIRE PREFERRED CARD
Offering a unique combination of high rewards rates and flexibility in redeeming them, the Chase Sapphire Preferred Card is ideal for those who frequently spend on travel & dining. This card also features an attractive sign-up bonus, diverse redemption options, and travel benefits.
PROS & CONS OF A SAPPHIRE PREFERRED CARD
PROS:
Great rewards for various spending areas
Numerous travel and shopping protections
CONS:
Annual fee
No introductory APR offer
AMERICAN EXPRESS PLATINUM CARD
For avid travelers seeking luxury, American Express Platinum Card is a must-have. It offers exclusive travel benefits, access to airport lounges, and numerous rewards, including Membership Rewards points.
PROS & CONS OF AN AMERICAN EXPRESS PLATINUM CARD
PROS:
Bonus categories
Transfer partners
Luxury benefits
CONS:
$695 annual fee
Intricate rewards system
Requires good/excellent credit
CAPITAL ONE VENTURE REWARDS CREDIT CARD
The Capital One Venture Card, a high-end travel card, offers 2 – 5 miles per dollar spent and a welcome bonus of 75,000 miles after spending $4,000 during the initial three months. Thanks to its simple rewards structure, earning and using miles is a breeze.
PROS:
Annual fee is comparatively low
Offers annual travel credit and anniversary miles
Miles are straightforward to earn and use
CONS:
Lacks partnerships with domestic airlines and upscale hotels
Does not offer hotel status benefits
CITI PREMIER CARD
The Citi Premier® Card is perfect for those seeking travel-related rewards and also want to earn points on everyday purchases. This card also provides added benefits for spending at restaurants, supermarkets, and gas stations.
PROS & CONS OF A CITI PREMIER CARD
PROS:
Bonus categories
Rewards that never expire
CONS:
Annual fee
Requires good/excellent credit
DISCOVER IT CASH BACK
The Discover It Cash Back card is suitable for average spenders who are ready to keep track of 5% rotating categories and the quarterly spending cap. With no annual fee, this card can offer considerable rewards beyond the constant 1% earning rate.
PROS & CONS OF A DISCOVER IT CASH BACK CARD
PROS:
5% cash back on rotating spending categories each quarter (requires activation)
Discover automatically matches all your cash back at the end of your first year
No minimum redemption for cash back
CONS:
5% bonus cash back is limited to $1,500 per quarter
Bonus categories must be activated each quarter
Base reward rate is only 1%
BANK OF AMERICA PREMIUM REWARDS CREDIT CARD
Ideal for frequent travelers seeking flexible rewards, especially for existing Bank of America customers. Offers a robust rewards program, airline incidental fee credits, and numerous travel benefits.
PROS & CONS OF A BANK OF AMERICA PREMIUM REWARDS CREDIT CARD
PROS:
Sign-up bonus
High points for travel and dining
Premium travel protections
CONS:
Annual fee
Requires good/excellent credit
WELLS FARGO ACTIVE CASH CARD
The Wells Fargo Active Cash offers an unlimited 2% cash rewards rate on purchases, making it competitive against some of the leading flat-rate cash back cards. Moreover, it doesn’t impose an annual fee.
PROS & CONS OF A WELLS FARGO ACTIVE CASH CARD
PROS:
High reward rate
No annual fee
Introductory APR period
CONS:
No bonus category rewards
HILTON HONORS AMERICAN EXPRESS SURPASS CARD
Perfect for Hilton regulars, offering significant points on Hilton purchases along with other perks. It comes with a substantial annual fee, but the benefits it offers, including complimentary Diamond status, are worth it for those who frequently stay at Hilton properties.
PROS & CONS OF A HILTON HONORS AMERICAN EXPRESS SURPASS CARD
PROS:
Over $600 in statement credits annually
Free standard night award with no category limits at participating properties
CONS:
High annual fee
High regular & penalty APR
Point values lower than most rewards programs
CHASE FREEDOM UNLIMITED
With its simple cash back program, charging a flat rate on all purchases and no annual fee, Chase Freedom Unlimited card stands out among cash-back cards. Its bonus categories, flexible rewards, and compelling welcome offer make it a top contender.
PROS & CONS OF A CHASE FREEDOM UNLIMITED CARD
PROS:
No annual fee
Intro APR period
High rewards rate
CONS:
Requires good/excellent credit
SOUTHWEST RAPID REWARDS PREMIER CREDIT CARD
Designed for frequent Southwest Airlines passengers, it provides bonuses and anniversary bonuses. The annual fee is offset by rewards and perks, including a $75 annual travel credit from Southwest.
PROS & CONS OF A SOUTHWEST RAPID REWARDS PREMIER CREDIT CARD
PROS:
No foreign transaction fee
Earn points towards A-list status
Unlimited reward seats with no blackout dates
CONS:
High regular APR
No intro APR offer
Annual fee
IN CONCLUSION
Before you apply for any credit card, consider your spending habits, travel preferences, and financial goals to decide which card best suits you. Be sure to check the credit card issuer’s website for the latest terms, conditions, and reward structures.
