Rewards credit cards come in various forms which can complicate comparisons. These cards differ in their earning rates, reward types and specific terms. However, to not leverage the best rewards credit cards could mean missing out on great perks and even substantial savings. Here are our top 10 recommended rewards cards.
CHASE SAPPHIRE PREFERRED CARD
The Chase Sapphire Preferred Card offers a unique blend of high rewards rates and versatility in redemption. It’s perfect for people who frequently spend on travel and dining and appreciates the modest annual fee. Well-regarded for its impressive sign-up bonus, flexible redemption avenues and travel extras.
PROS & CONS OF CHASE SAPPHIRE PREFERRED CARD
Pros:
Generous rewards on various spending categories.
Travel and shopping protections included.
Cons:
Annual fee applicable.
No introductory APR.
AMERICAN EXPRESS PLATINUM CARD
The American Express Platinum Card is recommended for regular travellers seeking luxury. It provides top-tier travel amenities, access to airport lounges, and various rewards, including Membership Rewards points.
PROS & CONS OF AMERICAN EXPRESS PLATINUM CARD
Pros:
Reward categories included.
Transfer partners accessible.
Luxury perks available.
Cons:
Yearly fee of $695.
Complex reward structure.
Good/excellent credit required.
CAPITAL ONE VENTURE REWARDS CREDIT CARD
The Capital One Venture Card stands out among premium travel credit cards, offering 2 – 5 miles per $1 spent. It also carries an introductory offer of 75,000 miles for spending $4,000 in the initial three months. Well-liked for its easy-to-understand rewards structure, allowing holders to accumulate miles on all purchases.
Pros:
Its annual fee is lower than others in its class.
The yearly travel credit and anniversary miles can balance out the annual fee.
Earning and using miles are straightforward.
Cons:
Limited domestic airline and luxury hotel travel partners.
Not many hotel status perks.
CITI PREMIER CARD
The Citi Premier® Card is a sturdy travel credit card, especially useful when earning rewards on non-travel expenditures too. The card accumulates 3X points on hotel and air travel, along with other favourite categories like dining, supermarkets and gas stations.
PROS & CONS OF CITI PREMIER CARD
Pros:
Bonus categories.
Rewards don’t expire.
Cons:
Annual fee applicable.
Requires good/excellent credit.
DISCOVER IT CASH BACK
For moderately heavy spenders willing to activate the 5% rotating categories and keep track of the quarterly spending cap, the no-annual-fee Discover It Cash Back card can provide tidy rewards additional to its consistent 1% earning rate.
PROS & CONS OF DISCOVER IT CASH BACK
Pros:
5% cash back on rotating categories quarterly (must be activated).
Discover automatically matches all the cash back earned in the first year.
Cashback redemption with no minimum.
Cons:
The $1,500 per quarter spending cap for the 5% bonus cashback rate.
Bonus categories need quarterly activation.
A base reward rate of 1% on everything else.
It’s important before applying for any credit card to assess your spending habits, travel preferences, and financial goals to find the card that best suits your needs. Moreover, as terms, conditions and reward structures can change, always consult the latest details on the respective credit card issuer’s website.
-Rephrased by your AI Writing Assistant
