The world of credit card rewards can be overwhelming. With so many options, figuring out which card offers the best return for your spending habits requires careful consideration. This guide will break down the top contenders for the best reward credit cards in 2024, helping you maximize your earnings and choose the card that perfectly fits your lifestyle.
| Card Name | Key Rewards & Benefits | Annual Fee |
|---|---|---|
| Chase Sapphire Preferred® Card | 5x points on travel purchased through Chase Ultimate Rewards®, 3x on dining, 2x on travel, 1x on other purchases; points worth 25% more when redeemed for travel through Chase. | $95 |
| Chase Sapphire Reserve® Card | 5x points on flights and 10x on hotels and car rentals purchased through Chase Ultimate Rewards®; 3x on dining and travel worldwide; $300 annual travel credit. | $550 |
| American Express® Gold Card | 4x points at U.S. supermarkets (on up to $25,000 per year in purchases, then 1x), 4x points at restaurants worldwide, 3x points on flights booked directly with airlines or on amextravel.com. | $250 |
| Blue Cash Preferred® Card from American Express | 6% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%), 6% cash back on select U.S. streaming subscriptions, 3% cash back at U.S. gas stations and transit, 1% cash back on other purchases. | $0 intro annual fee for one year, then $95 |
| Capital One Venture X Rewards Credit Card | 2x miles on all purchases; 10x miles on hotels and rental cars booked through Capital One Travel; $300 annual travel credit; 10,000 bonus miles every account anniversary. | $395 |
| Discover it® Cash Back | 5% cash back on rotating categories each quarter (up to the quarterly maximum, currently $1,500 spent, then 1%), 1% cash back on all other purchases; Cashback Match™ at the end of your first year. | $0 |
| Citi Double Cash® Card | 2% cash back on all purchases (1% when you buy, 1% when you pay). | $0 |
| U.S. Bank Altitude® Reserve Visa Infinite® Card | 5x points on prepaid hotels and car rentals booked directly in the Altitude Rewards Center, 3x points on eligible travel and mobile wallet purchases, 1x points on all other purchases. | $400 |
| Wells Fargo Active Cash® Card | 2% cash rewards on purchases. | $0 |
Detailed Explanations
Chase Sapphire Preferred® Card: This card is a solid choice for those seeking valuable travel rewards without a hefty annual fee. The 5x points on travel purchased through Chase Ultimate Rewards® is a significant benefit, especially when combined with the ability to transfer points to partner airlines and hotels. 3x on dining makes it a great option for foodies. The points are worth 25% more when redeemed for travel through Chase, further enhancing their value.
Chase Sapphire Reserve® Card: The Reserve card is the premium offering from Chase, loaded with benefits for frequent travelers. The 5x points on flights and 10x on hotels and car rentals purchased through Chase Ultimate Rewards® is exceptional. 3x on dining and travel worldwide ensures you earn a substantial return on everyday spending. The $300 annual travel credit helps offset the higher annual fee.
American Express® Gold Card: This card focuses heavily on dining and groceries, making it ideal for individuals and families who spend significantly in these categories. The 4x points at U.S. supermarkets (on up to $25,000 per year in purchases, then 1x) is a powerful earning opportunity. The 4x points at restaurants worldwide adds even more value. 3x points on flights booked directly with airlines or on amextravel.com provides a decent return on travel.
Blue Cash Preferred® Card from American Express: This card is a top contender for cash back rewards, particularly for families. The 6% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%) is unmatched by most other cards. The 6% cash back on select U.S. streaming subscriptions is a nice bonus for those who use these services. The 3% cash back at U.S. gas stations and transit makes it a practical choice for everyday commuting.
Capital One Venture X Rewards Credit Card: This card offers a simplified rewards structure with valuable travel perks. The 2x miles on all purchases provides a consistent return on everything you buy. The 10x miles on hotels and rental cars booked through Capital One Travel is a significant boost for travel spending. The $300 annual travel credit and 10,000 bonus miles every account anniversary help justify the annual fee.
Discover it® Cash Back: This card is excellent for those who enjoy maximizing rewards through rotating categories. The 5% cash back on rotating categories each quarter (up to the quarterly maximum, currently $1,500 spent, then 1%) requires some planning but can yield substantial savings. The 1% cash back on all other purchases provides a baseline return. The Cashback Match™ at the end of your first year essentially doubles your first year's rewards.
Citi Double Cash® Card: This card offers a straightforward and consistent cash back rate. The 2% cash back on all purchases (1% when you buy, 1% when you pay) is simple and easy to understand, making it a great option for those who don't want to track bonus categories.
U.S. Bank Altitude® Reserve Visa Infinite® Card: This card provides a premium travel experience with a focus on mobile wallet spending. The 5x points on prepaid hotels and car rentals booked directly in the Altitude Rewards Center is a lucrative benefit for those who book through the portal. The 3x points on eligible travel and mobile wallet purchases encourages the use of mobile payment options.
Wells Fargo Active Cash® Card: This card offers a simple, flat-rate cash rewards structure. The 2% cash rewards on purchases makes it a great choice for those who prefer a straightforward approach to earning rewards without having to track bonus categories or spending caps.
Frequently Asked Questions
What is the best credit card for travel rewards? The Chase Sapphire Reserve® and Capital One Venture X Rewards Credit Card are excellent choices, offering generous travel benefits and rewards.
What is the best credit card for cash back? The Blue Cash Preferred® Card from American Express and the Citi Double Cash® Card are top contenders, offering high cash back rates on everyday spending.
What is an annual fee? An annual fee is a yearly charge that some credit card companies impose for the privilege of using their card and its associated benefits.
How do credit card rewards programs work? Credit card rewards programs allow you to earn points, miles, or cash back on your purchases, which can then be redeemed for various rewards.
What is a good credit score to get a rewards credit card? Generally, a credit score of 670 or higher is recommended to qualify for most rewards credit cards.
What are rotating categories on a credit card? Rotating categories are bonus rewards categories that change each quarter, requiring you to activate them to earn the higher rewards rate.
Can I transfer my credit card rewards to other programs? Yes, many credit card programs allow you to transfer your rewards points or miles to partner airlines, hotels, or other loyalty programs.
Conclusion
Choosing the best rewards credit card depends heavily on your individual spending habits and priorities. Consider how you typically spend your money and whether you prefer travel rewards, cash back, or a combination of both. By carefully evaluating your needs and comparing the different options, you can find a credit card that helps you maximize your rewards and achieve your financial goals.