Rewards junkies, buckle up! We’re diving into the world of some of the best rewards credit cards. You’ve come to the right place if you’re searching for a credit card that gives you more bang for your buck. From cash back to travel miles, these cards have got the goods. Let’s find out which ones will make your wallet – and your bank account – sing.
MoneyLion can help you explore a wide variety of rewards credit card options tailored to different needs and preferences.
10 Best rewards credit cards
Here are the top ten credit cards with some of the best rewards that will have you swiping with a smile.
1. Best for cash back: Chase Freedom Unlimited®
The Chase Freedom Unlimited® is a go-to for those who love cash back rewards. With 1.5% cash back on every purchase, a generous intro APR of 0% for 15 months, and a $200 bonus after spending $500 in the first three months, it’s a winner for everyday spending.
| Credit score needed: 690-850 | Purchases intro APR: 0% for 15 months |
| Intro bonus: Earn an additional 1.5% cash back | Cash advance fee: $10 or 5%, whichever is greater |
| Annual fee: $0 | Balance transfer fee: $5 or 3%, whichever is greater |
| Regular APR: 20.49% – 29.24% variable | Foreign transaction fee: 3% |
Pros
- Generous intro bonus
- Cashback on all purchases
- No annual fee
Cons
- Balance transfer fee
- Foreign transaction fee
2. Best for travel: Capital One Venture Rewards Credit Card
The Capital One Venture Rewards Credit Card is perfect for globe-trotters. Earn unlimited 2x miles on every purchase, with a one-time bonus of 60,000 miles after spending $3,000 within the first three months. It also has no foreign transaction fees, making it ideal for international travel.
| Credit score needed: Good to Excellent (700+) | Purchases intro APR: N/A |
| Intro bonus: 75,000 bonus miles after spending $4,000 in the first three months | Cash advance fee: $10 or 3%, whichever is greater |
| Annual fee: $95 | Balance transfer fee: $0 at the regular APR |
| Regular APR: 19.99% – 29.99% variable | Foreign transaction fee: None |
Pros
- High travel rewards rate
- No foreign transaction fees
- Large intro bonus
Cons
- Annual fee
- No intro APR for purchases
3. Best for dining: Capital One SavorOne Cash Rewards Credit Card
The Capital One SavorOne Cash Rewards Credit Card is a foodie’s dream, offering 3% cash back on dining and entertainment, 2% at grocery stores, and 1% on all other purchases. Plus, enjoy a $200 cash bonus after spending $500 within the first three months.
| Credit score needed: Good to Excellent (670-850) | Purchases intro APR: 0% for 15 months |
| Intro bonus: $200 after spending $500 in the first three months | Cash advance fee: $10 or 3%, whichever is greater |
| Annual fee: $0 | Balance transfer fee: $0 |
| Regular APR: 19.99% – 29.99% variable | Foreign transaction fee: 0% |
Pros
- High cash back on dining and entertainment
- No annual fee
- Intro APR on purchases
Cons
- Balance transfer fee
- Requires good credit
4. Best for gas: Blue Cash Preferred® Card from American Express
The Blue Cash Preferred® Card from American Express gives you 3% cash back at U.S. gas stations and on transit. Plus, earn 6% cash back on select U.S. streaming subscriptions and at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%).
| Credit score needed: Good to Excellent (670 – 850) | Purchases intro APR: 0% for 12 months |
| Intro bonus: $250 statement credit after spending $3,000 in the first six months | Cash advance fee: $10 or 5%, whichever is greater |
| Annual fee: $95 (waived for the first year) | Balance transfer fee: $5 or 3% |
| Regular APR: 19.24% to 29.99% variable | Foreign transaction fee: 2.7% |
Pros
- High cashback rates
- Intro APR for purchases
- Good for everyday spending
Cons
- Annual fee
- Foreign transaction fee
5. Best for groceries: Blue Cash Everyday® Card from American Express
The Blue Cash Everyday® Card from American Express offers 3% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%), 2% at U.S. gas stations, and 1% on other purchases. There’s also a $200 statement credit after spending $2,000 in the first six months.
| Credit score needed: Good to Excellent (670-850) | Purchases intro APR: 0% for 15 months |
| Intro bonus: $200 statement credit after spending $2,000 in the first six months | Cash advance fee: Either $10 or 5% of the amount of each cash advance, whichever is greater |
| Annual fee: $0 | Balance transfer fee: 3% or $5 minimum, whichever is greater |
| Regular APR: 19.24% to 29.99% variable | Foreign transaction fee: 2.7% |
Pros
- High cash back at supermarkets
- No annual fee
- Intro APR for purchases
Cons
- Foreign transaction fee
- Limited bonus categories
6. Best for rotating categories: Discover it® Cash Back
The Discover it® Cash Back card offers 5% cash back on rotating categories each quarter, such as grocery stores, restaurants, gas stations, and Amazon.com (up to the quarterly maximum, then 1%). Plus, Discover will match all your cashback earned at the end of your first year.
| Credit score needed: 690-850 | Purchases intro APR: 0% for 15 months |
| Intro bonus: Unlimited Cashback Match – Discover matches all the cash back earned at the end of your first year | Cash advance fee: $10 or 5%, whichever is greater |
| Annual fee: $0 | Balance transfer fee: 3% |
| Regular APR: 18.24% – 28.24% variable | Foreign transaction fee: None |
Pros
- High cash back in rotating categories
- Cashback match
- No annual fee
Cons
- Requires activation for categories
- Balance transfer fee
7. Best for low interest: Wells Fargo Active Cash℠ Card
The Wells Fargo Active Cash℠ Card offers a straightforward 2% cash reward on purchases, making it one of the best low-interest credit cards for simplicity and value.
| Credit score needed: 700-850 | Purchases intro APR: 0% for 15 months |
| Intro bonus: $200 after spending $500 in the first three months, plus unlimited 2% cash rewards on purchases | Cash advance fee: $10 or 5%, whichever is greater |
| Annual fee: $0 | Balance transfer fee: $5 or 3%, whichever is greater |
| Regular APR: 20.24%, 25.24% or 29.99% | Foreign transaction fee: 3% |
Pros
- Simple cash rewards program
- No annual fee
- Intro APR on purchases and balance transfers
Cons
- Foreign transaction fee
- Limited perks compared to other cards
8. Best for students: Discover it® Student Cash Back
The Discover it® Student Cash Back is ideal for students, offering 5% cash back on rotating categories and a cashback match at the end of the first year. It’s a great way to build credit while earning rewards.
| Credit score needed: Fair to good (580-740) | Purchases intro APR: 0% for six months |
| Intro bonus: Unlimited Cashback Match – Discover matches all the cash back earned at the end of your first year | Cash advance fee: $10 or 5%, whichever is greater |
| Annual fee: $0 | Balance transfer fee: 3% |
| Regular APR: 18.24% – 27.24% variable | Foreign transaction fee: None |
Pros
- High cash back in rotating categories
- Cashback match
- No annual fee
Cons
- Requires activation for categories
- Balance transfer fee
9. Best for building credit: Capital One Platinum Credit Card
The Capital One Platinum Credit Card is perfect for building or rebuilding credit. While it doesn’t offer rewards, it’s a solid choice for establishing a credit history.
| Credit score needed: Fair (580-740) | Purchases intro APR: None |
| Intro bonus: None | Cash advance fee: $10 or 3%, whichever is greater |
| Annual fee: $0 | Balance transfer fee: None |
| Regular APR: 29.99% variable | Foreign transaction fee: None |
Pros
- No annual fee
- Credit building
- No foreign transaction fees
Cons
- No rewards program
- High regular APR
10. Best for no annual fee: Citi® Double Cash Card
The Citi® Double Cash Card offers 2% cash back on all purchases – 1% when you buy and 1% when you pay off your balance. It’s a top pick for those who want simplicity and no annual fee.
| Credit score needed: 670 – 850 (Good to Excellent) | Purchases intro APR: 0% for 18 months |
| Intro bonus: None | Cash advance fee: $10 or 5% |
| Annual fee: None | Balance transfer fee: 3% |
| Regular APR: 19.24% – 29.24% variable | Foreign transaction fee: 3% |
Pros
- Simple cash back program
- No annual fee
- Long intro APR for balance transfers
Cons
- No sign-up bonus
- Foreign transaction fee
How do rewards credit cards work?
There are a few different types of reward credit cards. Here’s how they work:
Cash Back Rewards
Cash back rewards cards give you a percentage of your purchases back in cash. It’s straightforward and can be redeemed as statement credits, checks, or direct deposits.
Rewards Points Credit Cards
These cards earn points for every dollar spent. Points can be redeemed for travel, merchandise, gift cards, and more. Some cards offer higher points for specific categories like travel or dining.
Miles Credit Cards
Miles credit cards are perfect for travelers. Earn miles for every purchase, which can be redeemed for flights, hotel stays, and other travel-related expenses. Learn more about how credit card mile rewards work here.
Recommended: 11 Types of Credit Cards
Pros and cons of rewards credit cards
Can there be cons to reward credit cards? Let’s review.
| Pros • Earn rewards for everyday spending • Introductory bonuses • Additional perks like travel insurance and purchase protection | Cons • Higher interest rates if not paid in full • Annual fees on some cards • Temptation to overspend |
How to compare rewards credit cards
When picking the best rewards credit card, it’s essential to do your homework. Here’s how to ensure you get the most bang for your buck:
- Compare annual fees against potential rewards. Annual fees can be worth it if your rewards surpass the cost, so calculate carefully.
- Evaluate sign-up bonuses and introductory offers. Sign-up bonuses offer substantial rewards for meeting spending thresholds early on; check these closely.
- Check for category spending bonuses. Look for cards with higher rewards in spending categories matching your habits, like groceries or travel.
- Consider redemption options and flexibility. Flexible redemption options increase the value of rewards, so ensure you can redeem points easily and without restrictions.
- Look at additional perks. Consider extra perks like travel insurance and purchase protection that can add significant value to your card.
- Review interest rates. High-interest rates can negate rewards benefits, so choose cards with competitive rates and watch for changes after introductory periods.
Choosing the best rewards credit card
Choosing the best rewards credit card depends on your spending habits and financial goals. Whether you prefer cash back, travel miles, or rewards points, there’s likely a card out there that fits your needs. All it takes is a bit of research.
FAQ
How do I redeem credit card rewards?
Most credit card rewards can be redeemed online through your card issuer’s portal, where you can choose cash back, travel, or merchandise options.
Do credit card rewards expire?
It depends on the card. Some rewards never expire, while others have a time limit for redemption.
Can I transfer rewards between credit cards?
Some issuers allow you to transfer points between cards within their ecosystem, but this varies by issuer. Check with your card provider for specifics.
