What is the best credit card for rewards?

Answered on July 01, 2017
Updated on July 01, 2017
The content is accurate at the time of publication and is subject to change.
Amy Miller Amy Miller
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.

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BROWSE MORE QUESTIONS ABOUT Credit Card Rewards:

You will earn cash back by making purchases at select merchants. These merchants can be found in the Venmo Card section of Venmo app. Earned cash back will be applied to your Venmo account. If you are looking for cash back, we recommend you to apply for cash back credit cards. For example, the Discover it® Cash Back comes with 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate. Plus, unlimited 1% cash back on all other purchases - automatically. Discover will match ALL the cash back you've earned at the end of your first year, automatically (if you are a new cardmember).
For sure, you may choose from different cash back credit cards. You may find there offers with up to 5% cash back, no annual fee, sign-up bonuses and other perks. Pay attention to credit cards with increased cash back bonus categories. For example, if you spend a lot on gas purchases, credit cards with special cash back on gas category may be your choice.
HSBC Cash Rewards Mastercard® credit card comes with the following cash back rewards: 3% introductory cash back on all purchases in the first 12 months from account opening, up to the first $10,000 in purchases. Get 1.5 cash rewards on every $1 you spend on all new, net purchases after the intro period. If you want to earn more, you may consider other cash back credit cards. For example, the Discover it® Cash Back comes with 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com and more up to the quarterly maximum, each time you activate. Plus, unlimited 1% cash back on all other purchases - automatically. Discover will match ALL the...

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