Reward-based credit cards vary significantly. From differing rates of rewards to the types of benefits offered, and the rules for earning and redeeming, it can be a daunting task to compare them. However, not opting for the most beneficial one might mean missing out on various advantages and potentially, real money. Here are our top 10 recommended reward credit cards:
CHASE SAPPHIRE PREFERRED CARD
The Chase Sapphire Preferred Card is an attractive choice, offering high reward rates and flexible redemptions for frequent travel and dining expenses. It also boasts a generous sign-up bonus, travel benefits, and a reasonable annual fee.
PROS & CONS OF CHASE SAPPHIRE PREFERRED CARD
Receipt of high rewards across numerous spending areas.
Included travel and shopping protections.
CONS
Annual fee.
No introductory APR offer.
AMERICAN EXPRESS PLATINUM CARD
The American Express Platinum Card is ideal for regular travelers who value luxury. It offers premium benefits such as airport lounge access and a variety of rewards, including Membership Rewards points.
PROS & CONS OF AMERICAN EXPRESS PLATINUM CARD
High reward categories.
Availability of transfer partners.
Luxury rewards.
CONS
Sizeable annual fee of $695.
Involved rewards program.
Requires good/excellent credit.
CAPITAL ONE VENTURE REWARDS CREDIT CARD
The Capital One Venture Card is a high-end travel card, providing between 2–5 miles per $1 spent, along with a substantial initial bonus. It is popular because of its simple rewards structure and competitive benefits.
PROS:
Lower annual fee compared to others in the category.
Reward miles are effortless to earn and redeem.
CONS:
Limited domestic airline and upmarket hotel partners.
Lacks hotel status benefits.
CITI PREMIER CARD
The Citi Premier® Card, particularly recommendable for earning rewards on non-travel purchases, delivers 3X points on various highly-frequented categories including restaurants, supermarkets, hotels, and air travel.
PROS & CONS OF CITI PREMIER CARD
Prominent reward categories.
Rewards do not expire.
CONS
Annual fee.
Requires good/excellent credit.
DISCOVER IT CASH BACK
The Discover It Cash Back card offers decent rewards, especially for moderate spenders who are willing to utilize the 5% rotating categories and track the quarterly spending cap.
PROS & CONS OF DISCOVER IT CASH BACK CARD
All the cash back you’ve earned will be matched at the end of your first year.
There is no minimum cashback redemption.
CON:
A limit of $1,500 per quarter is imposed for 5% bonus cashback.
Bonus categories must be activated each quarter.
Low consistent reward rate on other purchases.
BANK OF AMERICA PREMIUM REWARDS CREDIT CARD
The Bank of America Premium Rewards credit card is designed particularly for frequent travelers looking for rewarding flexibility, especially appealing to Bank of America customers with significant account balances.
PROS & CONS OF BANK OF AMERICA PREMIUM REWARDS
High sign-up bonus.
Alluring rewards for travel and dining.
Premium travel protections.
CONS
Annual fee.
Requires good/excellent credit.
WELLS FARGO ACTIVE CASH CARD
The Wells Fargo Active Cash offers a competitive flat-rate cash reward program with no annual fee, competing among the best flat-rate cash back cards available.
HILTON HONORS AMERICAN EXPRESS SURPASS CARD
This card offers impressively high points on Hilton purchases and additional perks for those who frequently stay at Hilton hotels.
CHASE FREEDOM UNLIMITED
Chase Freedom Unlimited offers a straightforward cash-back program with no annual fee making it a top consideration.
SOUTHWEST RAPID REWARDS PREMIER CREDIT CARD
The Southwest Rapid Rewards Premier Credit Card is perfect for frequent Southwest Airlines customers.
It’s crucial to evaluate your spending habits and preferences before opting for a credit card. Plus, always check for the latest information on the respective credit card issuer’s website as reward structures and terms can change.
