8 Best Rewards Credit Cards – Cash Back, Points & More 2024
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Interested in earning some rewards for your everyday spending? You may consider picking a rewards credit card. It rewards you with points, travel miles, or cash back for every dollar spent, which you can use in various ways. If you have no idea about which one to get, we’ve put together 8 rewards credit cards that may fulfill your unique spending habits and financial needs!
Top 8 Rewards Credit Cards
Taking multiple factors into account such as rewards rate, annual fee, welcome bonus, redemption options, etc, we’ve curated a list of popular credit cards to apply for, whether you’re a beginner or an existing cardholder who wants to add value to your wallet with multiple cards.
Chase Sapphire Preferred
Rewards:
5x on travel purchased through Chase Ultimate Rewards
3x on dining, online grocery, and select streaming services
2x on other travel purchases
1x on all other purchases
Welcome Offer: 80,000 bonus points after spending $4,000 on purchases within 3 months from account opening
Annual Fee: $95
APR: 20.99% – 27.99%
Pros:
A range of perks for transit, food, and grocery delivery offered by partners Points are transferred at a 1:1 rate
Cons:
There’s an annual fee No introductory APR
American Express Blue Cash Everyday
Rewards:
3% cash back on U.S. supermarkets, online retail, and gas stations (up to $6,000 per year for each category, then 1%)
1% on cash back on other purchases
Welcome Offer: $200 statement credit after spending $2,000 in purchases within 6 months of account opening
Annual Fee: $0
APR: 0% intro APR for first 15 months, then 18.99% – 29.99%
Pros: No annual fee 0% Intro APR period
Cons: There’s a spending cap
American Express Blue Cash Preferred
Rewards:
6% on U.S. supermarkets (up to $6,000 per year, then 1%)
Unlimited 5% on select streaming subscriptions
Unlimited 3% on transit and gas stations
1% on other purchases
Welcome Offer: $250 statement credit after spending $3,000 within 6 months of account opening
Annual Fee: $0 for the first year, $95 thereafter
APR: 0% intro APR for first 12 months, then 18.99% – 29.99%
Pros: One of the best reward rates for grocery shopping Unlimited cash back for streaming services, perfect for streaming subscribers
Cons: There’s an annual fee after the first year Foreign transaction fee
Capital One Venture Rewards
Rewards:
Unlimited 2 miles per dollar on every purchase
Unlimited 5 miles per dollar on hotels and rental cars booked through Capital One Travel
Welcome Offer: 75,000 bonus miles after spending $4,000 within 3 months of account opening
Annual Fee: $95
APR: 20.74% – 28.74%
Pros: No foreign transaction fees
No spending caps Flexible redemptions for bookings, flights upgrade, gift cards, cash, exclusive perks.
Cons: You have to pay a manual fee
No 0% intro APR offer Transfer ratios with some partners are less than 1:1
Capital One SavorOne Cash Rewards
Rewards:
10% on Uber & Uber Eats
8% on Capital One Entertainment
5% on hotel bookings and car rentals through Capital One Travel
3% on dining, entertainment, popular streaming services, and groceries
1% on all other purchases
Welcome Offer: $200 cash bonus after spending $500 within 3 months from account opening
Annual Fee: $0
APR: 0% intro APR for 15 months, then 19.74% – 29.74%
Pros: No annual fee No foreign transaction fees 0% intro APR period
Cons: Rewards not applicable for popular stores like Walmart, Target, BJ’s, and Sam’s Club
Citi Premier
Rewards:
3X on restaurants, supermarkets, gas stations, air travel, and hotels
1X on all other purchases
Welcome Offer: 75,000 bonus points after spending $4,000 within 3 months of account opening
Annual Fee: $95
APR: 20.99% – 28.99%
Pros: Reward points are redeemable in various ways No foreign transaction fees
Cons: Annual fee No 0% intro APR period No offer for travel protections
Chase Freedom Flex
Rewards:
5% on quarterly bonus categories ($1,500 spending cap per quarter, see calendar)
5% cash back on travel purchased through Chase Ultimate Rewards
3% cash back on dining, and drugstores purchases
1% cash back on all other purchases
Welcome Offer: $200 bonus after spending $500 within 3 months from account opening
Annual Fee: $0
APR: 0% APR for first 15 months, then 19.99% to 28.74%
Pros: No annual fee Great intro APR offer
Cons: Foreign transaction fee Need to track and activate the rotating bonus categories quarterly Quarterly $1,500 spending limit for the bonus categories
Wells Fargo Active Cash
Rewards:
Unlimited 2% cash back on all purchases
Welcome Offer: $200 cash rewards bonus after spending $500 within 3 months of account opening
Annual Fee: $0
APR: 0% APR for first 15 months, then 19.99% to 29.99%
Pros: No annual fee Rewards are redeemable as physical cash in Wells Fargo ATMs, an option not supported by many card providers
Cons: Foreign transaction fee
How to choose a rewards credit card?
There’re so many credit cards, each with its own pros and cons. To make sure you get the most out of the earning opportunities, you should select a perfect card by checking your credit score and considering several essential factors.
Types of rewards card
Firstly, consider your financial goal, which will determine what type of card works better for you. There are mainly two options: cash back cards or travel cards.
If you simply want to earn some cash back on your purchases, cash-back cards are for you. If you hope to accumulate points or miles that you can redeem for flights, hotels, or any travel-related activities, opt for the other one. However, some travel cards will limit the redemption or transfer to particular partners, so you’d better dig deeper into the details.
Your spending habits
Having a better understanding of your daily expenses and figuring out your heavy-spending categories will help you pick a more suitable card and assess the potential earnings.
The earning structures of rewards credit cards are quite different with varying rates for certain categories such as gas, groceries, or dining, or some have bonus categories that rotate quarterly. If you just want to save the hassle, consider the flat-rate reward card.
Annual fees
Credit cards with annual fees will usually provide competitive rates and stronger incentives. But if you’re not sure whether your earnings will offset the cost, it’s wise for you to get a card that doesn’t charge annual fees.
Foreign transaction fees
Some cards will charge fees for purchases made overseas, which, obviously, are not a good choice if you’re traveling abroad frequently.
New customer offer
Most card issues will offer a welcome or sign-up bonus to attract new clients after you meet specific spending thresholds. But don’t fall for that and spend on something you don’t necessarily need. Take advantage of this offer only if you’re going to apply for a reward card and also plan for large purchases in the near future.
Beyond that, take a look at extra benefits available such as travel insurance, cell phone protection, concierge services, and so on, which will greatly improve your experience.
So that’s it – the 8 best rewards credit cards for you to choose from. If you have any questions or suggestions, please feel free to leave a comment below.
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