There’s an abundance of rewards credit cards out there, making it difficult to compare them effectively. They vary in terms of earn rates and reward types, along with the rules surrounding collection and redemption. However, failing to select an optimal card may result in missed out rewards or potential cash savings. Here are our top 10 recommended rewards cards.
CHASE SAPPHIRE PREFERRED CARD
The Chase Sapphire Preferred card balances high rewards rates with the freedom to redeem rewards, making it a worthwhile choice for frequent spenders on travel and dining. With a reasonable annual fee and a generous welcome bonus, this card provides flexible redemption options, enhanced by travel benefits.
PROS & CONS OF CHASE SAPPHIRE PREFERRED CARD
Earn substantial rewards across a range of spending categories and benefits from travel and shopping protections.
CONS
Charges an annual fee and no initial APR offer.
AMERICAN EXPRESS PLATINUM CARD
The American Express Platinum Card is a staple for frequent travelers who desire luxury. It offers high-end travel benefits, access to airport lounges, along with rewards including Membership Rewards points.
PROS & CONS OF AMERICAN EXPRESS PLATINUM CARD
Offers bonus categories, transfer partners, and luxury perks.
CONS
Charges an annual fee of $695 and possesses challenging rewards. It requires good/excellent credit.
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CAPITAL ONE VENTURE REWARDS CREDIT CARD
The Capital One Venture Card asserts itself as a premier travel card, providing 2-5 miles per $1 spent on purchases and a 75,000 miles signup bonus for spending $4,000 within the initial 3 months. Its clear-cut rewards structure allows for earning miles with each purchase.
Pros include the lower-than-average annual fee, an annual travel credit through Capital One Travel, and anniversary miles.
Cons involve the limited availability of domestic airline and high-end hotel travel partners, and no hotel status benefits.
CITI PREMIER CARD
The Citi Premier Card is a robust travel credit card, especially for those hoping to harvest rewards on non-travel purchases. It rewards 3X points on hotels and air travel, coupled with other advantageous categories like restaurants, supermarkets, and gas stations.
PROS & CONS OF A CITI PREMIER CARD
Features bonus categories and non-expiring rewards.
CONS
Charges an annual fee and requires good/excellent credit.
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DISCOVER IT CASH BACK
The Discover It Cash Back card is designed for moderate spenders, keen to utilize the 5% rotating bonus categories and monitor their spending cap each quarter. Arriving with no annual fee, this card offers a considerable rewards boost beyond its continuous 1% earning rate.
PROS & CONS OF A DISCOVER IT CASH BACK CARD
Offers 5% cash back on rotating categories each quarter (requires activation), and matches the cash back earned in your first year.
CONS
Bonus categories need to be activated quarterly, and the higher cash back rate is capped at $1,500 quarterly.
BANK OF AMERICA PREMIUM REWARDS CREDIT CARD
For regular travelers seeking a flexible rewards credit card, the Bank of America Premium Rewards credit card is worth considering. It offers a firm rewards program, airline fee credits, and travel benefits.
PROS & CONS OF BANK OF AMERICA PREMIUM REWARDS CREDIT CARD
Provides a sign-up bonus, travel and dining points boost, and premium travel protections.
CONS
Charges an annual fee and requires good/excellent credit.
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WELLS FARGO ACTIVE CASH CARD
The Wells Fargo Active Cash card is a strong contender among flat-rate cash back cards, offering a flat 2% cash rewards rate and no annual fee.
PROS & CONS OF WELLS FARGO ACTIVE CASH CARD
Offers a high rewards rate, no annual fee, and intro APR period.
CONS
Does not have bonus categories.
HILTON HONORS AMERICAN EXPRESS SURPASS CARD
If you often stay at Hilton hotels, the Hilton Honors American Express Surpass Card could be a fitting choice, offering beneficial points on Hilton purchases and other perks.
PROS & CONS OF HILTON HONORS AMERICAN EXPRESS SURPASS CARD
Provides over $600 in annual statement credits and a free standard night reward.
CONS
High annual fee and requires good/excellent credit.
CHASE FREEDOM UNLIMITED
The Chase Freedom Unlimited is an accessible card featuring a fixed rate on all purchases without an annual fee. Its versatile rewards program and outstanding welcome offer make it a leading choice among cash-back cards.
PROS & CONS OF CHASE FREEDOM UNLIMITED
Includes no annual fee, intro APR period, and high rewards rate.
CONS
Requires good/excellent credit.
SOUTHWEST RAPID REWARDS PREMIER CREDIT CARD
The Southwest Rapid Rewards Premier Credit Card provides benefits like bonus points and anniversary bonuses, making it an ideal card for frequent Southwest Airlines flyers.
PROS & CONS OF SOUTHWEST RAPID REWARDS PREMIER CREDIT CARD
No foreign transaction fee, earns points toward A-list status, and unlimited reward seats with no blackout dates.
CONS
High APR, no intro APR offer, and comes with an annual fee.
In summary, before signing up for a credit card, do consider your spending habits, preferences when traveling, and financial objectives to find the right match. Also, remember that terms and reward structures may have changed, so always verify the most current information on the card issuer’s website.
