Credit Cards

Best Rewards Credit Cards Of 2020

Last updated on March 4, 2020 by
best rewards credit cards

There are two main types of rewards credit cards: Travel cards and cash back cards. Travel cards rewards you in points and miles towards your flight bookings, along with additional perks and bonuses such as free lounge access, front-of-the-line priority boarding, free checked bags, and large points earn rates on travel purchases made with your card. Cash back rewards cards simply give you cash back on your purchases. Whether you prefer your rewards in free travel or cash back, here are the best rewards credit cards on the market right now.

Best For

All Around Travel Rewards

Chase Sapphire Preferred

chase sapphire preferred

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on Chase’s website

Welcome Offer: 60,000 bonus points (value of $750 towards travel)

Rewards Earn Rate: 2x points on travel and dining purchases, 1x points on everything else.

Interest Rate: 17.49% – 24.49% Variable

Annual Fee: $95

Recommended credit level: Good

If you’re looking for travel rewards, few cards come close to the sign-up bonus and rewards earn rate of the Chase Sapphire Preferred Card. It offers 60,000 bonus points (when you spend $4000 with the card in the first 3 months). That’s enough for $750 in travel credits when you book through Chase Ultimate Rewards.

Best For

Flat-Rate Travel Points

Capital One Venture Rewards Card

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on Capital One’s website

Welcome Offer: 50,000 bonus miles

Rewards Earn Rate: 2X miles on all purchases.

Interest Rate: 17.24% – 24.49% variable APR.

Annual Fee: $0 intro for the first year, then $95

Recommended credit level: Good

If you make a wide variety of purchases with your card, and want to earn the most travel rewards, the Capital One Venture Rewards Card has the highest flat-rate points earn rate of any other travel rewards card. Where some cards give 2x points in select categories, this card gives you 2x points on all purchases made. You’ll also get a sign-up bonus of 50,000 bonus miles (when you spend $3000 with your card within the first 3 months).

Best For

Flat-Rate Cash Back

Citi Double Cash Card – 18 month BT offer

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on Citi’s website

Cash Back Rate: 2% cash back on every purchase — 1% when you make it and 1% when you pay it off.

Interest Rate: 15.49% – 25.49% Variable

Annual Fee: $0

Recommended credit level: Good

If you’re looking for cash back rewards rather than travel perks, then the credit card offering the highest flat-rate in all category of purchases is the The Citi Double Cash Card. You’ll get 2% cash back on all purchases made with the card. This is especially good for people who use their credit card for purchases in a wide variety of categories. The Citi Double Cash Card encourages users to pay off their balance by giving 1% cash back when the purchase is made, and then the remaining 1% back when you pay off your balance.

Best For

Household Spending For Families

American Express Blue Cash Preferred Card

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on American Express’ website

Cash Back Rate: 6% cash back at US supermarketes, 6% back for US streaming subscriptions, 3% back for transit and gas (including Uber, public transit, parking, and tolls), 1% back on all other purchases.

Interest Rate: 0% intro APR for 12 months, then 14.49% to 25.49% Variable

Annual Fee: $95

Recommended credit level: Good

If the majority of your purchases are in groceries, then the American Express Blue Cash Preferred Card is the best rewards card for you. You’ll get 6% cash back on groceries at US supermarkets. This rate is valid up to $6000 in purchases per year, then it drops down to 1%. This card is also great for Netflix and other streaming services, which also gives 6% back. You’ll get 3% cash back for gas and transit, which includes public transit and ride sharing apps, parking, and even tolls. For all other purchases, you’ll get 1% cash back.

Best For

No Annual Fee

Capital One VentureOne Rewards Card

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on Capital One’s website

Welcome Offer: 20,000 bonus miles

Rewards Earn Rate: 1.25X miles on all purchases.

Interest Rate: 0% intro APR for 12 months, then 13.49% – 23.49% Variable

Annual Fee: $0

Recommended credit level: Good

Our pick for the best rewards credit card with no annual fees is the Capital One Venture Card. While having no annual fees, it still offers a large welcome bonus, rewards points, and perks. You’ll receive 20,000 as a welcome bonus, and even comes with no foreign transaction fees for purchases in other currencies. The Venture Card is also one of the most flexible in terms of redeeming your points. You can transfer your miles to over a dozen different loyalty programs.

Best For

Premium Travel Rewards

Chase Sapphire Reserve

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on Chase’s website

Welcome Offer: 50,000 bonus points + $300 travel credit

Rewards Earn Rate: 3X points on dining and travel, 1x points on all other purchases.

Interest Rate: 18.49% – 25.49% Variable

Annual Fee: $550

Recommended credit level: Excellent

If you’re looking for the absolute best travel rewards card and don’t mind the premium price, the winner is the Chase Sapphire Reserve Card. You’ll get a 50,000 points welcome bonus, free airport lounge access, and $300 in travel credits every year that you’re a member. In terms of points earnings, the Sapphire Reserve Card gives you 3x points on travel and dining purchases. And of course, like other travel cards by Chase, you’ll have no foreign transaction fees.

Best For

Hotels

The World of Hyatt Credit Card

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on Hyatt’s website

Welcome Offer: 50,000 bonus points

Interest Rate: 17.49% – 24.49% Variable

Annual Fee: $95

Recommended credit level: Good

If you’d prefer your rewards in free hotel stays and upgrades, the World of Hyatt Credit Card is the best hotel rewards card for you. Upon signing up, you’ll immediately get a free night’s stay which renews once per year, and you’ll get an additional free night if your spending for the year is at least $15,000 on the card. As a signup bonus, you’ll receive 50,000 bonus points. Redeeming free nights starts at just 5000 points, so you could essentially get a lot of free hotel rooms in your first year if you travel a lot. Not only that, but you’ll also get a really high points earn rate if you spend your card at Hyatt properties – a whopping 9x points on your purchases.

Best For

Airlines

United Explorer Card

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on United’s website

Welcome Offer: 40,000 bonus miles

Interest Rate: 17.99% – 24.99% Variable

Annual Fee: $0 intro annual fee for the first year, then $95

Recommended credit level: Good

The United Explorer Card is perfect for people who fly with United Airlines. You’ll get 40,000 bonus miles as a welcome bonus, and a bunch of perks such as access to their lounges, first checked bag free, and priority boarding. You’ll get 2x miles per $1 spent on United purchases, and 25% cash back on in-flight purchases. 1x miles per $1 spent on everything else.