The content is accurate at the time of publication and is subject to change.
Firstly, you should understand what are your main expenses to choose the best rewards credit card for you. There are different types of rewards cards:
Cash back credit cards
. Some cash back credit cards
offer fixed cash back rate, for example, 1% cash back on all purchases or certain rate for different categories, like 2% cash back on groceries. Another type of cards while other have rotating cash back categories that change every quarter. For example, the Discover it® Cash Back
credit card allow you to earn 5% cash back on up to $1,500 in purchases when you activate. Every quarter you should sign up for 5% cash back bonus, otherwise you won't be eligible for it. What is more, all the cash back earned at the end of your first year will be matched automatically (if you are a new cardmember). For example, if you earn $150, you will receive $300
Travel rewards credit cards.
If you travel often with one airline, you may choose from airlines co-branded credit cards. If you want to redeem earned miles on any travel, choose from general travel rewards credit cards
. What is more, such cards often allow to redeem rewards on any travel expenses, like hotel stays, cruises, car rentals and more. Most travel cards also have their own portals where you can book travel at a special rate.
Here are more features to look for when choosing the best rewards card:
No annual fee.
Sometimes cards come with hundred of dollars annual fee for the perks they provide. Ensure you earn enough rewards and annual fee doesn't eat up your rewards.
No foreign transaction fee.
If you want to apply for a travel rewards credit card, this feature is very important, don't overpay for purchases made overseas.
All rates and fees, and other terms and conditions of the products mentioned in this article/post are actual as of the last update date but are subject to change. See the current products' Terms & Conditions on the issuing banks' websites.
LOOKING FOR A CARD?
There is a credit card for any credit and for any purpose. Whether you want to start building your credit from scratch or earn rewards on purchases, save on gas or travel for free, you can find a good credit card offer for that.