Best Credit Cards With Rewards

Allison Martin
Credit card rewards

If you are searching for a rewards credit card, there are many options to choose from that offer a variety of rewards. You should carefully evaluate each card before making a selection to ensure that you will get the most out of the rewards offered.

1. Discover it

When you apply and are approved for a Discover it Card, you will receive five percent cash back on select purchases. For this reason, NerdWallet classifies this card as one of the "stellar" cash back products on the market. Nerd Wallet also included Discover it on its list of the Best Credit Cards of 2016.

  • Each quarter, you can earn cash back on purchases made in select categories that vary on a quarterly basis. These include entertainment, home improvement, ground transportation, department store and gasoline purchases. All other purchases earn 1 percent cash back.
  • Beyond gift cards, which start at $20, there is no minimum redemption amount and your balance will stick around forever since your earnings never expire. Cash back can be redeemed for gift cards, charitable donations, statement credits, electronic deposits and select purchases at participating retailers. To redeem your earnings, visit Discover.com or call 1-800-347-3085.
  • The total cash back earned in the first twelve months is automatically doubled, and there are no foreign, over limit or annual fees. Plus, the late payment fee is automatically waived the first time around.

2. Citi Double Cash Card

As a Citi Double Cash cardholder, you will earn one percent cash back each time you make a purchase with the card and an additional one percent cash back each time you make a payment to reduce the balance owed on the card. As a result of this double-earning potential Value Penguin ranks the Citi Double Cash Card among the top cash back cards on the market.

  • RewardsEarnings can be redeemed for a check, gift card or statement credit once the balance reaches $25 or more by visiting www.citi.com or calling 1-855-473-4583.
  • There is no cap on the amount of rewards you can earn, and you'll never pay an annual fee.

3. Chase Sapphire Preferred

Chase Sapphire Preferred cardholders can two points for every dollar spent on travel and dining (worldwide). All other purchases earn one point. You can also earn 50,000 bonus points, which is equivalent to $635, when you spend $4,000 or more in the first three months, and 5,000 bonus points when you add an authorized user and make a purchase within the first three months. The Simple Dollar selected this card as its top rewards credit card pick for 2016.

  • Once you've earned 2,000 or points, they can be redeemed for a statement credit, electronic deposit, gift cards or travel through Chase Ultimate Rewards.
  • Points can be transferred to participating travel programs free of charge.
  • The annual fee is $0 for the first 12 months and $95 in subsequent years. However, a review from CreditDonkey.com notes the $95 annual fee is a small price to pay in exchange for the hefty introductory offer on bonus points, double rewards points, absence of foreign transaction fees and transfer options.

4. Premier Rewards Gold Card From American Express

The American Express Premier Rewards Gold Card is a charge card, so you'll never accrue interest since the balance must be paid in full each month. The annual fee is waived in year one and $195 thereafter. Reviewers from CreditKarma don't seem to mind the steep annual fee since the card offers generous earning potential and excellent customer service. This card was also highlighted by Value Penguin as one of the top rewards cards of 2016.

  • Cardholders can earn up to 65,000 points in the first two years if they meet the following criteria:
    • Spend $2,000 on purchases in the first three months (40,000 points)
    • Spend $2,000 on purchases between 08/20/2017 and 11/20/2017 (25,000 points)
  • The card has a tiered rewards system, with points varying by purchase type. Cardholders earn:
    • 3 points per dollar or airfare
    • 2 points per dollar on gas station and supermarket purchases

    • 2 points per dollar spent at restaurants

  • Points can be redeemed for travel, dining, entertainment, merchandise and gift card purchases.

5. Bank Americard Travel Rewards Credit Card

Bank Americard Travel Rewards cardholders can earn 1.5 point for every $1 spent and points never expire. You can also earn 20,000 bonus points, which is equivalent to a $200 statement credit, if you spend $1,000 or more in the first 90 days. This card was also named the best credit card for travel rewards in 2015 by Kiplinger.

  • Points can be redeemed for a statement credit that can be allocated toward travel expenses.
  • There is no annual fee and the APR is waived for the first 12 months.

6. Capital One Venture Rewards

Capital One Venture Rewards

Capital One Venture Rewards cardholders are offered 40,000 bonus miles if they spend $3,000 or more in the first three months. In addition, you can earn two miles for every dollar spent on purchases. "The Capital One Venture Credit Card has stood out among miles rewards credit cards for several years now with a generous rewards plan," notes MoneyUnder30. It was also voted as the easiest travel redemption card by NerdWallet on its list of the "best rewards credit cards of 2016."

  • There is no cap on the amount of miles you can accrue
  • Rewards never expire and can be redeemed for statement credits that can be applied to travel purchases by logging into the online portal.
  • The annual fee is free in year one and $59 in the subsequent years.

7. Chase Freedom

Chase Freedom cardholders earn 1.5 percent cash back on purchases and never pay an annual fee. You can also receive a $150 bonus if you spend $500 or more on purchases in the first three months. You can also earn $25 if you add an authorized user and make a purchase of any amount within the first three months. NerdWallet rates this card as one of the best rewards products for credit newbies and those with less than perfect credit because it is not accompanied by an annual fee and offers a lucrative rewards program.

  • Points never expire and the earning potential is unlimited.
  • At any time, you can redeem your points for statement credits, electronic deposits, gift cards and travel.

Compare Your Options

Card

Introductory Offer

APR

Annual Fee

Reward Structure

Discover it

0% APR on purchases for 12 months 11.24 - 23.24%

$0

5% on select purchases (changes quarterly)

1% cash back on all other purchases

Citi Double Cash Card

0% APR on balance transfers for 18 months 13.24% - 23.24%

$0

1% cash back on purchases

1% cash back on payments

Chase Sapphire

50,000 bonus points when you spend $4,000 or more on purchases in the first three months

5,000 bonus points when you add an authorized user and make a purchase in the first three months

16.24 - 23.24%

$0 (for 12 months), then $95

two points for every dollar spent on travel and dining (worldwide)

one point for every dollar spent on all other purchases

Premier Rewards Gold Card from American Express

40,000 points when you spend $2,000 or more in the first three months

25,000 points when you spend $2,000 on purchases between 08/20/2017 and 11/20/2017

n/a $0 (for 12 months), then $195

3 points per dollar or airfare

2 points per dollar on gas station and supermarket purchases

2 points per dollar spent at restaurants

Bank Americard Travel Rewards Credit Card

0% APR on purchases for 12 months

20,000 points when you spend $1,000 or more in the first 90 days

15.24 - 23.24% $0 1.5 points for every dollar spent

Capital One Venture Rewards

40,000 bonus miles if you spend $3,000 or more in the first three months

13.24%, - 23.24% $0 (for 12 months), then $59 2 miles for every dollar spent

Chase Freedom Unlimited

0% APR on purchases and balance transfers for 15 months

$150 bonus if you spend $500 or more on purchases in the first three months

$25 if you add an authorized user and make a purchase of any amount within the first three months

14.24 - 23.24% $0 1.5% cash back on every purchase

Before You Apply

Carefully review the terms and conditions to ensure you select the credit card that best suits your needs. Additionally, conduct a cost-benefit analysis to confirm the rewards received will exceed the costs of being a cardholder.

Best Credit Cards With Rewards