Rewards credit cards are increasingly being used by Americans to supplement their travel, supermarket, shopping, and even day-to-day expenses. Credit card rewards are aplenty these days, especially since many credit card issuers are dangling them as incentives to sign you up as a new customer. According to a survey by Capital One, this ‘free money’ is consumers’ top motivation for using rewards credit cards. If you pay off your card balance in full each month, and have good to excellent credit score, I strongly recommend you use a rewards card to help you save and earn money at the same time. Below is one of the best rewards cards that I personally recommend:
Chase Sapphire Preferred Card gives you 40,000 bonus points when you spend $3,000 in the first 3 months, as well as 5,000 bonus points when you make a purchase and add an additional cardholder within the first 3 months. You will earn 2 points per dollar on travel and dining purchases and 1 point per dollar on the rest of your purchases. Introductory annual fee of $0 the first year, then $95. Click here to read our Chase Sapphire Preferred review or Chase Sapphire review.
I myself hardly use cash anymore, and try to only use my rewards card when buying things. Not only does it give me a credit line, it also gives me many extras just for using my card, such as giving me cash back, reward points or miles, which I can later redeem for gift cards, merchandise, air tickets, hotel stays, VIP experiences or pure, hard cash. To help you choose the best rewards card for your needs, we have compiled the best rewards credit cards below in the following categories:
“Cash is king. I prefer getting discounts and cash rebates”
Discover it® Card, issued by Discover (NYSE:DFS), offers 5% rebate on quarterly bonus categories you sign up for, automatic 1% rebate on all other purchases and it has no annual fee. One feature that we’ve not seen in other cards is that you can double the value of your cashback if you redeem for vouchers from participating merchants such as Carnival Cruise, Hyatt, Samsonite and many others. This Discover it Card also has a 0% special APR on purchases and balance transfers for 14 months, and 10.99%-22.99% variable APR after this period. No foreign transaction fee.
Click here to read Discover it Card review.
Chase Freedom® – $100 Bonus, issued by JPMorgan Chase (NYSE:JPM), gives you 5% rebate on up to $1,500 combined purchases in quarterly rotating categories and unlimited 1% rebate on all others. It has no annual fee and even lets you earn a $100 Bonus after you spend $500 on purchases within the first 3 months of account opening, and a $25 Bonus when you make a purchase and add an authorized user in this same 3-month period. Unlike many other rewards cards that don’t offer any 0% promotional APR, Chase Freedom offers a 0% intro APR for 15 months on purchases and balance transfers. After that there’s is a variable APR of 13.99%-22.99% on both balance transfers and purchases.
Click here to read Chase Freedom review.
“I like staying at a particular hotel or flying with a particular airline”
United MileagePlus® Explorer Card by Chase is one of the top airline credit cards when it comes to travel perks. Earn 2 miles per dollar spent on United air tickets and 1 mile per dollar on every other purchase. Earn 30,000 miles when you spend $1,000 during the first 3 months. No foreign transaction fees. $0 intro annual fee for the first year, then $95.
Click here to read United credit card review.
Hilton HHonors Visa Signature Card from Citi (NYSE:C) is the card to get if you stay at Hilton often, whether as a leisure or business traveler. It doesn’t have any annual fee, and gives you 40,000 points when you spend $1,000 in the first 4 months, which is worth 8 free hotel nights. You get 6 points per dollar spent on Hilton HHonors locations, 3 points on groceries, gas and drugstore purchases, and 2 points on all others. This Hilton card doesn’t have any pre-set spending limit, which is useful for big spenders.
Click here to read the Hilton Card review.
“I want flexible travel rewards since I’m not a loyal fan of any particular airline or hotel”
Capital One® Venture® Rewards Credit Card, issued by Capital One, is the card to get if you want to chalk up air miles really quickly as it gives you 2 miles per dollar spent on all purchases, whether you are buying toothpaste or air tickets. You can earn a one time bonus of 40,000 miles after spending $3,000 on purchases within the first 3 months. That’s worth $400 towards travel costs. The miles you earn are not capped by any limit, and they don’t expire! A benefit which I find really useful is that miles are redeemable for airfare, hotel accommodation, car rentals, gift cards, and more, so you have that flexibility there. This card has no foreign transaction fee. $0 intro annual fee for the first year; $59 after that.
Click here to read our Venture credit card review.
Chase Sapphire Preferred Card has an amazing offer for new sign-ups whereby you will receive 40,000 bonus points after spending $3,000 in the first 3 months, and 5,000 bonus points when adding an additional cardholder and making a purchase within the first 3 months. It lets you earn 2 points per dollar on dining and travel purchases and 1 point on all others. It is a very flexible travel rewards card as you can redeem points for travel, cash, gift cards, merchandise, unique experiences. Chase Sapphire Preferred has many travel-related benefits, plus it has an introductory annual fee of $0 the first year, then $95.
Click here to read our Chase Sapphire Preferred review or Chase Sapphire review.
BankAmericard Travel Rewards® Credit Card, provided by Bank of America, is a great travel rewards card that lets you earn 1.5 points for each dollar you spend, as well as an additional 1.5 bonus points (a total of 3 points per dollar) on up to $6,000 spent on airfare through the Bank of America Travel Center every year, as well as on other eligible Travel Center purchases. Online-exclusive offer: You can earn 10,000 bonus points when spending at least $500 on qualified purchases within the first 90 days of account opening. Enjoy 0% intro APR on purchases for the first 12 billing cycles, and a 14.99%-22.99% variable APR thereafter. $0 annual fee.
Click here to read our BankAmericard Travel Rewards® credit card review.
“I want a 0% balance transfer card which also comes with rewards”
Discover it® Card – 18 Month Balance Transfer Offer offers a special 0% intro APR on balance transfers for 18 months (then 10.99%-22.99% variable), which is one of the longest 0% periods we’ve encountered. This is great for people who want to pay off their existing credit card debt with no interest by transferring it to this Discover it Card. You’ll also enjoy 0% intro APR on purchases for 6 months, and a variable APR of 10.99%-22.99% thereafter. Like other Discover cards, this card offers 5% rebate on the first $1,500 spent in quarterly changing categories if you sign up, and automatic 1% on all other purchases. I strongly recommend you use this card to pay off your card balance first before using it to purchase things.
Click here to read Discover it Card – 18 Month Balance Transfer Offer review.
“I’m a business owner & I want to earn rewards on my business expenses”
Ink Cash Business Card – $200 Bonus Cash Back from Chase is an excellent card as it gives you 5% cash back on the first $25,000 spent annually on wireless services, office supplies, landline and cable services, 2% cash back on the first $25,000 spent annually on dining and gas, and 1% unlimited rebate on everything else. No annual fee for you or any extra cards for your employees. Has 0% introductory APR for 12 months on purchases and balance transfers (13.24% variable APR thereafter). Earn $200 cash back when you spend $3,000 in the first 3 months.
Click here to read review of Chase Ink Credit Card.