Choosing the right rewards credit card can be a tricky affair due to the variety of options available, each with different earning rates, reward types, and stipulations for earning or spending these rewards. To gain the most from your credit card, it’s crucial to select a top-performing rewards card; otherwise, you might miss out on significant advantages or cash payouts. Here, we handpicked our top 10 credit cards for benefits.
CHASE SAPPHIRE PREFERRED CARD
The Chase Sapphire Preferred Card is a worthwhile choice for routine travelers and food enthusiasts due to its high reward rates and flexible redemption options. It also offers an attractive sign-up bonus and various travel advantages, with a moderate annual fee.
PROS & CONS OF A SAPPHIRE PREFERRED CARD
Pros: High-earning potential across several spending areas and numerous travel and shopping protections.
Cons: Annual fee and no introductory APR offer.
AMERICAN EXPRESS PLATINUM CARD
The American Express Platinum Card is tailor-made for regular travelers who value premium experiences. The card offers elite travel perks, access to airport lounges, and a host of distinctive rewards, including Membership Rewards points.
PROS & CONS OF A AMERICAN EXPRESS PLATINUM CARD
Pros: Exclusive bonus categories, transfer partners, and luxury benefits.
Cons: A substantial annual fee, complex rewards, and a requirement of good to excellent credit.
CAPITAL ONE VENTURE REWARDS CREDIT CARD
The Capital One Venture Card is a high-value option for globetrotters, providing between 2 to 5 miles per $1 spent on purchases upon meeting initial bonus criteria. Its easy-to-understand rewards structure and competitive benefits place it on par with other high-end credit cards.
Pros: Lower annual fee than competitors, valuable annual travel credit, easily earned and redeemed miles.
Cons: Limited domestic airline and upscale hotel travel partners, lacks hotel status benefits.
CITI PREMIER CARD
Ideal for those who want rewards on more than just travel expenses, the Citi Premier Card offers three times the points on lodgings, flights, as well as other popular categories such as dining, supermarkets, and gas stations.
PROS & CONS OF A CITI PREMIER CARD
Pros: Bonus categories and endless rewards.
Cons: Annual fee and a requirement of good to excellent credit.
DISCOVER IT CASH BACK
The Discover It Cash Back card suits moderate spenders who will activate the 5% rotating categories and monitor their quarterly spending cap allowing them to gain notable rewards, alongside its 1% ongoing earning rate, at no annual fee.
PROS & CONS OF A DISCOVER IT CASH BACK CARD
Pros: 5% cash back on specific quarterly spending categories, automatic cash-back match at first year’s end, no minimum for cash-back redemption.
Cons: Bonus categories require quarterly activation, spending limit on 5% bonus cashback rate, low 1% base reward rate.
BANK OF AMERICA PREMIUM REWARDS CREDIT CARD
Regular travelers who desire flexibility in credit card rewards should consider the Bank of America Premium Rewards credit card. It offers an impressive rewards program, credit for airline incidental fees, and numerous travel benefits.
PROS & CONS OF A BANK OF AMERICA PREMIUM REWARDS CREDIT CARD
Pros: Sign-up bonus, more points earned on travel and dining, enhanced travel protections.
Cons: Annual fee and a requirement of good to excellent credit.
WELLS FARGO ACTIVE CASH CARD
The Wells Fargo Active Cash Card competes with the top flat-rate cash back cards, offering a limitless 2% cash rewards rate on purchases without imposing an annual fee.
PROS & CONS OF A 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
The Hilton Honors American Express Surpass Card is designed for Hilton regulars, rewarding significant points on Hilton purchases, and adding extra benefits.
PROS & CONS OF A HILTON HONORS AMERICAN EXPRESS SURPASS CARD
Pros: More than $600 in yearly statement credits, a free standard night award without category limits.
Cons: High annual fee without a first-year waiver, high regular and penalty APR, lower value points than most reward programs.
CHASE FREEDOM UNLIMITED
For a smooth rewards process, the Chase Freedom Unlimited provides a consistent rate on all purchases, with no annual fee. It is known for its bonus categories, flexibility in rewards, and an outstanding welcome offer.
PROS & CONS OF A CHASE FREEDOM UNLIMITED CARD
Pros: No annual fee, introductory APR period, high rewards rate.
Cons: Requires good/excellent credit.
SOUTHWEST RAPID REWARDS PREMIER CREDIT CARD
For frequent flyers with Southwest Airlines, the Southwest Rapid Rewards Premier Credit Card offers exclusive perks and anniversary bonuses that justify its annual fee.
PROS & CONS OF A SOUTHWEST RAPID REWARDS PREMIER CREDIT CARD
Pros: No foreign transaction fee, earn points towards A-list status, unlimited reward seats.
Cons: High regular APR, no introductory APR offer, annual fee.
It’s essential to scrutinize your spending tendencies, travel inclinations, and financial objectives before concluding on a credit card. Regardless of your choice, always ensure to select cards with terms and reward systems that align with your lifestyle. Always check the latest information on the respective credit card issuer’s site, as terms and reward structures might have changed.
