The multitude of reward credit cards available these days can make it difficult to figure out which ones provide you with the best value. Each comes with its own earning rates, rewards in varying forms, and specific rules for earning or redeeming the rewards. Ensuring you choose the top rewards credit cards is crucial so you don’t miss out on any benefits or real money benefits. Here are our top 10 picks for the finest rewards cards.
1. CHASE SAPPHIRE PREFERRED CARD
The Chase Sapphire Preferred Card is ideal for habitual spenders on travel and dining. It offers high rewards rates and flexibility in redemptions at a reasonable annual fee. This card also stands out for its generous sign-up bonus, diverse redemption choices, and travel benefits.
Pros: High rewards on diverse spending areas, numerous travel and shopping protections.
Cons: An annual fee with no introductory APR offer.
2. AMERICAN EXPRESS PLATINUM CARD
For those who travel regularly and desire a touch of luxury, the American Express Platinum Card is a worthy pick. This card provides high-end travel perks, access to airport lounges, and an array of rewards including Membership Rewards points.
Pros: Excellent bonus categories, transfer partners, and luxury benefits.
Cons: $695 annual fee, complex rewards system, requires good/excellent credit.
3. CAPITAL ONE VENTURE REWARDS CREDIT CARD
The Capital One Venture Card is a top-tier travel card that gives 2 – 5 miles per $1 spent on purchases, plus a welcome bonus of 75,000 miles for spending $4,000 within the first 3 months. With a straightforward rewards system, each purchase earns you more miles.
Pros: Lower annual fee compared to peers, annual travel credit, and miles are easy to earn and use.
Cons: No partnerships with domestic airlines and high-end hotels, no hotel status benefits.
4. CITI PREMIER CARD
For those looking to earn rewards on everyday spending as well as travel, the Citi Premier Card is a solid choice. It earns 3X points on several categories including hotels, air travel, restaurants, supermarkets, and gas stations.
Pros: Bonus categories, rewards don’t expire.
Cons: Comes with an annual fee and requires good/excellent credit.
5. DISCOVER IT CASH BACK
The Discover It Cash Back card serves moderate spenders well. By activating the 5% rotating categories and following the quarterly spending cap, this no-fee card can offer substantial rewards on top of its permanent 1% earning rate.
Pros: 5% cash back on quarterly categories, first-year cash-back match, no minimum cash-back redemption.
Cons: Quarterly activation is required, low 1% base reward rate, $1,500 per quarter spending limit on 5% bonus categories.
6. BANK OF AMERICA PREMIUM REWARDS CREDIT CARD
This card is perfect for frequent travellers seeking flexibility in credit card rewards, especially existing Bank of America customers with substantial account balances. It offers a reliable rewards program, travel benefits, and airline fee credits.
Pros: Sign-up bonus, higher points on travel and dining, premium travel protections.
Cons: Annual fee, requires good/excellent credit.
7. WELLS FARGO ACTIVE CASH CARD
Competing with the highest flat-rate cash back cards, the Wells Fargo Active Cash card offers unlimited 2% cash rewards rate on purchases and zero annual fees.
Pros: High rewards rate, no annual fee, introductory APR period.
Cons: No bonus categories offered.
8. HILTON HONORS AMERICAN EXPRESS SURPASS CARD
For Hilton frequenters, this card provides sizable points on Hilton purchases and additional perks. The card justifies its premium status and cost with excellent benefits.
Pros: Over $600 annual statement credits, free standard night award with no category limits.
Cons: High annual fee with no waiver for the first year, high regular and penalty APR, points hold lower value than most rewards programs.
9. CHASE FREEDOM UNLIMITED
Known for a simple cash back program, the Chase Freedom Unlimited card offers a flat rate on all purchases and demands no yearly fee. It features excellent bonus categories, flexible rewards, and a stellar welcome offer, making it a top competitor among cash-back cards.
Pros: No annual fee, introductory APR period, high rewards rate.
Cons: Requires good/excellent credit.
10. SOUTHWEST RAPID REWARDS PREMIER CREDIT CARD
Perfect for regular Southwest Airlines travelers, this card offers bonuses like bonus points and anniversary bonuses. The rewards and benefits, including a $75 annual travel credit on Southwest, justify the annual fee and every purchase earns points towards A-list status.
Pros: No foreign transaction fee, points can be earned towards A-list status, unlimited reward seats with no blackout dates.
Cons: High regular APR, no introductory APR offer, annual fee.
Before signing up for any credit card, always evaluate your spending patterns, travel preferences, and financial objectives. Make sure to choose the card offering the best alignment with your needs. The terms and conditions, as well as reward structures, could have been updated. Therefore, be sure to check the most recent details on the respective credit card issuer’s website.
