7 Best Rewards Credit Cards

This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.

BankAmericard Cash Rewards™

The BankAmericard Cash Rewards™ is another credit card that has no revolving categories and offers a simple cash back rewards program. Cardholders can earn 3% cash back at gas stations, 2% cash back at grocery stores/wholesale clubs and 1% cash back on all other purchases. Each quarter, the bonus rewards for grocery/wholesale club and gas purchases are offered on just the first $2,500 in combined spending in those categories. Once you reach the $2,500 threshold, you will earn 1% cash back until the next quarter begins. You may convert your cash back rewards at any time in the form of a direct statement credit, a check or a deposit to your Bank of America bank account. Customers with a Bank of America account will earn an automatic 10% bonus every time they deposit cash rewards into their account, and Bank of America Preferred Rewards customers earning a 25-75% bonus, depending on how the size of their Bank of America accounts.

Your cash rewards will not expire as long as the account stays open, and there is no limit to the cash back you can earn. Cardholders will benefit from the automatic enrollment in ShopSafe, a program that provides a temporary 16-digit account number that can be used in place of the actual credit card number when making purchases online, providing extra security and privacy and reducing the risk of a stolen credit card number. New card applicants may be eligible to receive $100 bonus cash back after spending at least $500 in purchases in the first 90 days of account opening. The BankAmericard Cash Rewards™ card has no annual fee.

Capital One® Venture® Rewards

Looking to earn miles rather than cash back? The Capital One® Venture® Rewards card makes it easy to earn rewards that can be used for travel. Cardholders will earn two miles for every dollar spent every day. New applicants may be eligible to receive a bonus of 40,000 miles after spending $3,000 in the first three months, which is equal to $400 in travel. You may redeem miles for past travel purchases using the Purchase Eraser, which allows you to get a statement credit for travel booked using your card. You may also book new travel reservations using miles through the Capital One Rewards Center. Miles are worth one cent each towards eligible travel purchases include airfare, hotels, car rentals, cruises and more. As a Visa Signature® card, you will also benefit from complimentary upgrades and discounts at hotels, a personalized concierge service, and special access to discounts for shopping and preferred seating at special events. This card has a $59 annual fee that is waived in the first year, and no foreign transaction fees.

Chase Freedom®

Chase Freedom® is a great option for someone who likes to maximize returns in different categories throughout the year. Cardholders can earn 5% cash back on their first $1,500 spent each quarter on qualifying purchases in bonus categories, and 1% cash back on all other purchases. Rewards are tracked as points with each $1 equal to 100 points. Once you've earn 2,000 points, you may begin redeeming rewards in the form of statement credits, gift cards or travel. Using the Chase Mobile App allows you to redeem cash rewards by selecting the merchant, entering the amount desired to redeem, and scanning the barcode on the app at check out. You can also redeem points for travel through Chase Ultimate Rewards travel center where you can redeem your rewards to purchase travel directly through Chase. Your rewards points will not expire as long as your account remains open, and there is no limit to the amount of rewards you can earn. New applicants can earn a $100 bonus after spending $500 on purchases and a $25 bonus after adding a first authorized user and making your first purchase in the first three months from account opening. For a consumer that wants the flexibility of cash and travel rewards without the annual fee, this is a great credit card option.

Chase Sapphire Preferred® Card

If you want access to Chase Ultimate Rewards but don't want to deal with the hassle of revolving rewards categories, the Chase Sapphire Preferred® Card may be the card for you. Cardholders will earn two points per dollar spent on travel and dining purchases including airlines, hotels, car rentals, taxis, parking garages and tolls, and one point per dollar on all other purchases. Points are deposited directly into your Chase Ultimate Rewards account where they can be redeemed for 1.25 cents per point towards travel reservations. You will benefit from a 20% discount on travel when paying with points through Chase Ultimate Rewards as compared to the cash price. As an example, a $400 airline ticket will cost you 32,000 points, whereas you would need 40,000 points to get $400 in cash. The Chase Ultimate Rewards program also gives you the option to transfer your points at a 1:1 ratio to airline and hotel programs, including Southwest Airlines Rapid Rewards, British Airways Executive Club, United MileagePlus, along with Hyatt Gold Passport, Marriott Rewards, IHG Rewards Club and The Ritz-Carlton Rewards. New applicants can receive 40,000 bonus points after spending $4,000 within the first three months of account opening and another 5,000 bonus points after adding a first authorized user and making a purchase in the same three months. This card has no foreign transaction fees and a $95 annual fee that is waived the first year.

Citi® Double Cash

If you are looking for a cash back card that will reward you for paying your credit card balance, Citi® Double Cash is the card you want. Cardholders will earn 1% cash back on all purchases, including gas, groceries, movie tickets and more. Your purchases are stored in your account's Purchase Tracker. The balance in the Purchase Tracker is reduced by payments you make, and you will earn 1% cash back on those payments as long as it is equal to or greater than your minimum balance. Once you have accumulated $25 in cash rewards, you can redeem amounts in any greater amount in the form of a check, statement credit, gift card or a credit deposited directly into a Citi savings or checking account that was used to pay the Citi credit card bill at least two times. There are no restrictions on the amount of cash back you can earn and no category limitations. Cash rewards are active as long as you keep the account open.

Citi® Double Cash offers cardholders a number of other benefits. The first time you pay late, the fee is automatically waived. Cardholders may also access Private Pass and Price Rewind. Private Pass offers cardholders special access to tickets and discounts for entertainment events, sports clinics, VIP packages and comedy shows, and Price Rewind will refund the difference of an item if Citi finds that item at a lower price within 60 days of purchase, up to $1,200 per year. This card has no annual fee.

Discover it® - Cashback Match™

The Discover it® - Cashback Match™ card offers high cash back returns on revolving categories throughout the year. Like Chase Freedom®, cardholders will receive 5% cash back on the first $1,500 spent in eligible categories that change each quarter, that can include gas, ground transportation, restaurants, movies and department stores. You will need to activate your rewards each quarter to secure this benefit, and all other purchases will earn 1% cash back. After the first year of account opening, new cardholders will be eligible for double cash for all rewards they earned in the year, meaning twice the rewards without any extra effort. You may redeem your cash rewards at any amount, starting with one cent, for a statement credit or an electronic deposit to a bank account. The Discover it® - Cashback Match™ card even allows you to donate cash rewards to a designated charity, including Junior Achievement, Make-A-Wish, American Red Cross and more. Additionally, cardholders can pay with rewards at select online stores, such as Amazon, Facebook and Overstock.com. You can also redeem cash back starting at $20 for instant eCertificates or gift cards from Discover partners. In addition, Discover will automatically waive customer's first late payment fee. This card has no annual fee and no foreign transaction fees.

U.S. Bank Cash+™ Visa Signature®

Sometimes you want to choose the category for which you get rewards. The U.S. Bank Cash+™ Visa Signature® gives you the ability to designate rewards categories based on your own spending. Cardholders will earn 5% cash back on the first $2,000 in two of 12 categories each quarter. You may choose from charity, department stores, electronic stores, sporting goods stores and more. You will also earn 2% cash back on your choice of one everyday category of grocery stores, gas stations or restaurants, and 1% cash back on all other purchases. If you will be moving in the next quarter, you can choose to receive 5% cash back on car rentals for the van and furniture stores if buying new items, along with 2% cash back on gas stations, maximizing your rewards that quarter. Once you spend the $2,000 in the 5% categories, you will earn 1% cash back in that category until the new quarter. If you do not choose a category, your purchases will still earn 1% cash back. You may redeem your rewards at any time for any amount in the form of a statement credit or deposit to a checking or savings account. There is no limit to the rewards you can earn. As a Visa Signature® card, you have access to a personalized concierge service that will help you make travel reservations and offer complimentary travel discounts, exclusive shopping offers and more. This card has no annual fee.

Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author's alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.

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