There are a myriad of rewards credit cards available, each with its own unique rewards rate, reward type, and associated rules for earning or redeeming rewards. Choosing the right one is essential as not doing so could mean missing out on potential benefits or even extra cash. Here are our top 10 rewards cards.
1. CHASE SAPPHIRE PREFERRED CARD
The Chase Sapphire Preferred Card offers high rewards rates and flexible redemptions. It’s an excellent choice for regular spenders on travel and dining. With its modest annual fee, generous sign-up bonus, and various travel benefits, it is a top contender.
Pros: High rewards for various spending categories and plenty of protections for travel and shopping.
Cons: Has an annual fee and no introductory APR.
2. AMERICAN EXPRESS PLATINUM CARD
For frequent travelers who enjoy luxury, the American Express Platinum Card is a worthy addition to your wallet. It features premium travel benefits, access to airport lounges, and rewards such as Membership Rewards points.
Pros: Good bonus categories, transfer partners, and luxury perks.
Cons: Has a high annual fee of $695, complex rewards system, and requires good/excellent credit.
3. CAPITAL ONE VENTURE REWARDS CREDIT CARD
This premium card offers significant travel benefits, with each dollar spent earning between 2 – 5 miles and a bonus of 75,000 miles for spending $4,000 in the first 3 months. Known for its straightforward rewards structure, it gives you miles for every purchase.
Pros: Lower annual fee than other premium cards, annual travel credit, and easy-to-earn miles.
Cons: Lack of local airline and upscale hotel travel partners, no hotel status benefits.
4. CITI PREMIER CARD
A solid choice for not only travel but earnings on non-travel purchases. This card allows you to earn 3X points on hotels, air travel, restaurants, supermarkets, and gas stations.
Pros: Bonus categories, and rewards that do not expire.
Cons: Has an annual fee and requires good/excellent credit.
5. DISCOVER IT CASH BACK
Ideal for moderate spenders who are ready to track and activate the 5% rotating categories. With no annual fee, it offers substantial rewards aside from the standard 1% earning rate.
Pros: Quarterly 5% cash back, end-of-year matched cash back, and no minimum cash back redemption.
Cons: $1,500 spending limit for the 5% cash back, categories must be activated quarterly, and low earning rate of 1% for non-bonus categories.
6. BANK OF AMERICA PREMIUM REWARDS CREDIT CARD
Perfect for habitual travelers seeking flexibility in rewards, especially for existing Bank of America account holders. Offers a robust rewards program, airline fee credits, and travel benefits.
Pros: Sign-up bonus, high points on travel and dining, and comprehensive travel protections.
Cons: Has an annual fee and requires good/excellent credit.
7. WELLS FARGO ACTIVE CASH CARD
With an unlimited 2% cash reward rate and no annual fee, it competes effectively with other top flat-rate cash back cards.
Pros: High rewards rate, no annual fee, and introductory APR period.
Cons: No bonus categories.
8. HILTON HONORS AMERICAN EXPRESS SURPASS CARD
Designed for regular Hilton customers, it offers high points on Hilton spending and other perks. Its distinctive status comes with a high fee but gives significant benefits to high spenders who use Hilton often.
Pros: More than $600 in annual statement credits, and a free standard night at select properties.
Cons: High annual fees with no first-year waiver, high APRs, and lower value points compared to other rewards programs.
9. CHASE FREEDOM UNLIMITED
Features a simple cash back program with a uniform rate on purchases and no annual fee. It is attractive due to its bonus categories, flexible rewards, and excellent welcome offer.
Pros: No annual fee, introductory APR period, and high rewards rate.
Cons: Requires good/excellent credit.
10. SOUTHWEST RAPID REWARDS PREMIER CREDIT CARD
Ideal for frequent Southwest Airlines travelers, with benefits like bonus points and yearly bonus. A $75 annual travel credit on Southwest, coupled with earning points towards A-list status, easily justifies the fee.
Pros: No foreign transaction fees, accumulation of points for A-list status, and unlimited reward seats.
Cons: High standard APR, lacks intro APR offer and has an annual fee.
In conclusion, always assess your spending habits, travel needs, and financial aims before selecting a credit card. Ensure you keep updated with the terms and conditions and reward structures from the respective credit card issuer’s website.
