Credit Cards » Compare Credit Cards » The Best Rewards Credit Cards of May 2022
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The Best Rewards Credit Cards of July 2022

Find the right rewards credit card for you, based on your spend and needs - whather it's cash back, points or miles. Compare our best picks.

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Some products that appear here are from companies from which this website receives compensation. This may impact how and where products appear on this site (including, for example, the order in which they appear). This compensation allows us to maintain a full-time, unbiased editorial staff. Our opinions are our own.

Rewards credit cards are cards that actually pay you a predetermined percentage of the amount of every transaction you have. These cards come in two main options, either cash back or travel cards.

Trave cards give you points, or miles, for every dollar you spend. These rewards can be used to pay for flights, hotel stays, car rentals, and other travel related purchases.

Cash back cards give you a percentage of every purchase in the form of cash, hence the name cash back credit card.

These types of credit cards make up over 60 percent of all the credit card offers on the market. The cashback cards make up over 30 percent of offers and 63 percent are points or miles cards.

When you go looking for the best rewards card, you will soon find that there are a lot of options out there to choose from. This is why we have gathered together information for the best reward credit cards available.

Here are The Smart Investor Select’s picks for the top rewards credit cards:

Blue Cash Preferred® Card from American Express

AMEX Blue Cash Preferred Card review

Rates & Fees, Terms Apply

Blue Cash Preferred® Card from American Express

Reward details

1-6% 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%) and selected U.S. streaming subscriptions, 3% cash back on transit and U.S. gas stations, 1% cash back on other purchases

Current Offer

$350 $350 back in the form of a statement credit after you spend $3,000 in purchases on your new card in your first 6 months of Card Membership

Credit Rating

Good – Excellent

Annual Fee

$95

0% Intro

12 months on purchases

APR

15.49%-25.49% Variable

Rates & Fees, Terms Apply

The Blue Cash Preferred® Card from American Express considered as one of the best rewards cards, offers an outstanding 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%) and selected U.S. streaming subscriptions, 3% cash back on transit and U.S. gas stations, 1% cash back on other purchases , making it a suitable choice for commuters and a 2.70% fee on foreign transactions. Terms Apply.

However, warehouse clubs and superstores are not included. The American Blue Cash Preferred Card charges an annual fee of $95, but you can justify this if you reach the higher cashback threshold in U.S. supermarkets. This makes the card suitable for individuals that buy or purchase their groceries at traditional supermarkets. New cardmembers can earn up to $350 back in the form of a statement credit after you spend $3,000 in purchases on your new card in your first 6 months of Card Membership .

  • Rewards Plan: 6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%) and selected U.S. streaming subscriptions, 3% cash back on transit and U.S. gas stations, 1% cash back on other purchases
  • APR: 15.49%-25.49% Variable
  • Annual Fee: $95
  • Balance Transfer Fee: N/A
  • Foreign Transaction Fee: 2.70%
  • Welcome Bonus: $350 back in the form of a statement credit after you spend $3,000 in purchases on your new card in your first 6 months of Card Membership
  • 0% APR Introductory Rate: 12 months on purchases

* Terms Apply

 

  • Sign-Up Bonus
  • Cash Back Rewards
  • 0% APR Intro
  • Redeeming Options
  • Extended Warranty on Purchases
  • $95 Annual Fee
  • Short Introductory Rates
  • Balance Transfer Fee
  • Foreign Transaction Fee
  • Minimum Redemption Amounts

  • Is there a limit to rewards/cash back? You can get the premium cashback rate on groceries until you have annual purchases in this area of $6,000. The rate then goes to 1%.
  • Can I get car rental insurance? how? Yes, you will get this insurance if you refuse the car rental company’s insurance coverage and you pay for the entire cost of the rental with this card.
  • Does it have a cash-back/point rewards limit? You can get the premium cashback rate on groceries until you have annual purchases in this area of $6,000. The rate then goes to 1%. Otherwise, there are no restrictions.
  • Do you need a proof of income?  No transparent income requirements or proof of income requests.
  • Does the rewards points expire? They do not expire once you keep your account open and meet a few basic conditions.
  • Can I get pre-approved?  Yes, you can get pre-approval.
  • What is the initial credit limit? It will be at least $1,000 and usually greater.
  • How do I redeem cash back? The rewards will be credited to you in the form of a statement credit.

Bank of America® Travel Rewards credit card

Bank of America® travel rewards

On Bank Of America Website, Terms Apply

Bank of America® Travel Rewards credit card

Reward details

Unlimited 1.5X points 1.5 points for every $1 you spend on all purchases everywhere, every time and no expiration on points

Current Offer

25,000 points 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening – which can be redeemed for a $250 statement credit toward travel purchases

Credit Rating

Good – Excellent

Annual Fee

$0

0% Intro

15 billing cycles for purchases

APR

14.24% – 24.24% variable APR on purchases and balance transfers

On Bank Of America Website, Terms Apply

The Bank of America® Travel Rewards credit card is a good option for frequent travelers looking for travel rewards, especially if you're an existing customer of Bank of America. It offers a $0 annual fee while customers can use when they travel to earn points and gain rewards. To gain access to this card, you will need a solid credit score of between 680 to 850.

The Bank of America® Travel Rewards offers a agin up bonus of 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening – which can be redeemed for a $250 statement credit toward travel purchases, and you can use for purchases and other travel expenses. You're also not limited when you want to make travel arrangements as the card grants you flexibility. 

  • APR: 14.24% - 24.24% variable APR on purchases and balance transfers
  • Annual fee: $0
  • Balance Transfer Fee: 3% or $10 (the greater)
  • Foreign Transaction Fee: 0%
  • Rewards Plan: 1.5 points for every $1 you spend on all purchases everywhere, every time and no expiration on points
  • Sign Up bonus: 25,000 online bonus points after you make at least $1,000 in purchases in the first 90 days of account opening – which can be redeemed for a $250 statement credit toward travel purchases
  • 0% APR Introductory Rate period: 15 billing cycles for purchases
  • Point Sign-Up Bonus
  • Point Rewards
  • No Annual Fee
  • No Foreign Transaction Fee
  • Preferred Rewards, No Expiration
  • Minimum Redemption
  • There are Better Rewards Cards
  • Good - Excellent Credit Needed
  • Limited Travel Protections

  • Is there a limit to rewards/cash back on the Bank of America Travel Rewards Card? There is no cap.
  • Can I get car rental insurance with Bank of America Travel Rewards Card? how? Yes it offers rental insurance for cars if you pay for the full cost with this credit card and you decline the rental company’s insurance.
  • Does Bank of America ask for proof of income? No out and out income requirement and you do not always have to provide proof of income.
  • Does the card offer pre approval? Yes, pre-approval is an option
  • What is the initial credit limit ? The smallest credit limit for this card iwll usually be $500.
  • How do I redeem cash back ? You are able to redeem these points as statement credit to pay for the likes of travel and dining purchases or you can redeem as cash or in the form of gift cards.
  • Should You Move to Bank of America Travel Rewards CardIf you travel frequently and will use the rewards on travel-related purchases.
  • The bank denied my request, What's now?? Perhaps you did not meet all of the requirements. You can ask the customer service team what you need to do to get accepted or you can look at other card options.
  • How to maximize rewards? Redeem the points for travel-related or dining purchases, maximize the signup offer, and use in conjunction with another card.
  • When you shouldn't get the Bank of America Travel Rewards Card? If you do not travel a lot.

Capital One Venture Rewards Credit Card

capital-one-venture

On Capital One Website, Terms Apply

Capital One Venture Rewards Credit Card

Reward details

Unlimited 2X miles 2X miles per dollar on every purchase, plus 5X miles on hotels and rental cars booked through Capital One Travel

Current Offer

75,000 miles 75,000 miles once they spend $4,000 on purchases within 3 months from account opening

Credit Rating

Good – Excellent

Annual Fee

$95

0% Intro

N/A

APR

16.24% – 24.24% Variable

On Capital One Website, Terms Apply

The Capital One Venture Rewards is a low-cost travel card that worth’s its value. It allows you to earn rewards and bonus points while traveling for business, leisure, or pleasure. However, it requires holders to have a credit score of between 680 and 850.

The rewards plan includes 2X miles per dollar on every purchase, plus 5X miles on hotels and rental cars booked through Capital One Travel . The card attracts no annual fees, and you can get a sign up bonus of 75,000 miles once they spend $4,000 on purchases within 3 months from account opening.  

  • APR: 16.24% - 24.24% Variable
  • Annual fee: $95
  • Balance Transfer Fee: N/A
  • Foreign Transaction Fee: None
  • Rewards Plan: 2X miles per dollar on every purchase, plus 5X miles on hotels and rental cars booked through Capital One Travel
  • Sign Up bonus: 75,000 miles once they spend $4,000 on purchases within 3 months from account opening
  • 0% APR Introductory Rate period: N/A
  • Flexible Rewards Redemption
  • Great Sign-Up Bonus
  • No Blackout/Expiration Dates
  • No Accumulation Limit on Miles
  • High Variable APR
  • Airline Partners Limitations
  • $95 Annual Fee
  • Redeem Points for a Statement Credit

  • What are Capital One Venture card income requirements? Capital One often required monthly income to be at least $800. Sometimes, you will need to show some proof of income.
  • Does rewards points expire? They do not expire.
  •  Can I get pre-approved on card Capital One Venture CardYes, you can get pre-approval.
  •  What is the initial credit limit ? The minimum credit limit is set at $5,000.
  •  How do I redeem cash back? You can do so in a number of ways, such as spending your accumulated miles directly on travel purchases, or redeem as cash, using at participating retailers, and so on.
  •  What purchases don't earn cash back with the Capital One Venture Card? Every purchase earns cashback.
  •  Should You Move to Capital One Venture CardIf you spent a decent amount of time and money on travel expenses.
  •  Why did Capital One Venture Card deny me? What to Do Next? You might not have met all of the requirements. You can enquire as to where your application fell short. If you cannot proceed, you can look at some of the other available options.

Chase Sapphire Preferred® Card

chase_sapphire_preffered

On Chase Website, Terms Apply

Chase Sapphire Preferred® Card

Reward details

2x-5x points 5x total points on travel purchased through Chase Ultimate Rewards, 3x points on dining and 2x on other travel purchases. Plus, earn 1 point per dollar spent on all other purchases

Current Offer

60,000 points 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening

Credit Rating

Good – Excellent

Annual Fee

$95

0% Intro

N/A

APR

16.74% – 23.74% Variable

On Chase Website, Terms Apply

The Chase Sapphire Preferred® Card is a travel rewards card issued by Chase Bank. This is a very popular travel rewards card because it offers a large sign-up bonus and the card is built around traveling. Many travel rewards cards have higher annual fees for the same kind of rewards. The card offers a sign-up bonus of 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.

This card is on our top spot in regards to the best traveling and dining cards as they offer you more points compared to other cards - 5x total points on travel purchased through Chase Ultimate Rewards, 3x points on dining and 2x on other travel purchases. Plus, earn 1 point per dollar spent on all other purchases .

  • Rewards Plan: 5x total points on travel purchased through Chase Ultimate Rewards, 3x points on dining and 2x on other travel purchases. Plus, earn 1 point per dollar spent on all other purchases
  • APR: 16.74% - 23.74% Variable
  • Annual fee: $95
  • Balance Transfer Fee: 5% or $5, whichever is greater
  • Foreign Transaction Fee: 0%
  • Sign Up bonus: 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening
  • 0% APR Introductory Rate: N/A
  • Point Sign-Up Bonus
  • Bonus Points
  • No Blackout Dates
  • 25% More through Ultimate Chase Rewards
  • No Foreign Transaction Fee
  • $95 Annual Fee
  • Low Merchandise Rewards
  • No Introductory 0% 
  • Balance Transfer Fee - 5% or $5, whichever is greater

  • Does the travel rewards points expire? Your points won’t expire once you keep the credit card account open.
  • Does card Chase Sapphire Preferred offer pre-approval? Yes, you are able to pre-qualify for this card.
  • What is the initial credit limit? The minimum credit limit that you can get with this card type is usually $5,000.
  • How do I redeem cash back? You can redeem your points in a variety of ways through the Chase credit card reward portal. Some of the perks you can get include cash, travel credit, statement credit, and gift cards.
  • What purchases don't earn cash back? All purchases will earn cashback through this card.
  • Should You Move to Chase Sapphire Preferred card?  If you travel frequently and do not want to pay a large annual fee.
  • Why did the Chase deny me? You might not have met one of its requirements. You will usually find out where you fell short. You might be able to rectify the issue or you might have to look elsewhere.
  •  How hard is it to get a Chase Sapphire Preferred card? If you meet all of the requirements, then it is relatively straightforward to get a Chase Sapphire Preferred card.
  • Is there a limit to rewards/cash back on the Chase Sapphire Preferred card? No limit
  • Can I get car rental insurance with a Chase Sapphire Preferred card? how? Yes, you can get car rental insurance with this card if you decline the collision cover of the rental company and pay for the entire cost of the rental car with this card.

Marriott Bonvoy Boundless® Credit Card

Marriott Bonvoy Boundless Card review 2019

On Chase Website, Terms Apply

Marriott Bonvoy Boundless® Credit Card

Reward details

Up to 17X points up to 17X total Bonvoy points per $1 spent at over 7,000 hotels participating in Marriott Bonvoy® with the Marriott Bonvoy Boundless® Card, 3X on the first $6,000 spent in combined purchases each year on grocery stores, gas stations, and dining and 2X Bonvoy points for every $1 spent on all other purchases

Current Offer

5 Free Nights 5 Free Nights (each night valued up to 50,000 points) after qualifying purchases

Credit Rating

Good – Excellent

Annual Fee

$95

0% Intro

None

APR

16.74% – 23.74% Variable

On Chase Website, Terms Apply

If you're using Marriot frequently or looking for a decent hotel rewards card, the Marriott Bonvoy Boundless® Credit Card may be a perfect match for your needs. 

It offers up to 17X total Bonvoy points per $1 spent at over 7,000 hotels participating in Marriott Bonvoy® with the Marriott Bonvoy Boundless® Card, 3X on the first $6,000 spent in combined purchases each year on grocery stores, gas stations, and dining and 2X Bonvoy points for every $1 spent on all other purchases and a very attractive sign up bonus of 5 Free Nights (each night valued up to 50,000 points) after qualifying purchases. 

However, the card charges $95 annual fee and doesn't offer 0% intro.

  • Rewards Plan: up to 17X total Bonvoy points per $1 spent at over 7,000 hotels participating in Marriott Bonvoy® with the Marriott Bonvoy Boundless® Card, 3X on the first $6,000 spent in combined purchases each year on grocery stores, gas stations, and dining and 2X Bonvoy points for every $1 spent on all other purchases
  • APR: 16.74% - 23.74% Variable
  • Annual fee: $95
  • Balance Transfer Fee: $5 or 5%
  • Foreign Transaction Fee: 0%
  • Sign Up bonus: 5 Free Nights (each night valued up to 50,000 points) after qualifying purchases
  • 0% APR Introductory Rate period: None
  • Sign-up bonus of points: 100,000
  • Sign-Up Bonus
  • Annual Reward
  • Ongoing Points Rewards
  • Transfer to Airline Points
  • Automatic Silver Status
  • Chase Restrictions
  • Confusing Rewards
  • Annual Fee
  • No 0% Intro

Sam's Club Mastercard

Sam's Club® Mastercard®

On Sam's Website, Terms Apply

Sam's Club Mastercard

Reward details

1-5% 5% cash back on gas anywhere Mastercard is accepted (on the first $6,000 per year, then 1% after), 3% cash back on Sam’s Club purchases for Plus members, 3% on dining and takeout and 1% on all other purchases

Current Offer

None

Credit Rating

Good – Excellent

Annual Fee

$0

0% Intro

None

APR

15.65% or 23.65% Variable

On Sam's Website, Terms Apply

The Sam’s Club Mastercard is a great card for Sam’s Club shoppers. It has very competitive cashback rewards and benefits in some spending categories.

Sam’s Club Mastercard offers 5% cash back on gas anywhere Mastercard is accepted (on the first $6,000 per year, then 1% after), 3% cash back on Sam’s Club purchases for Plus members, 3% on dining and takeout and 1% on all other purchases.  The rewards categories do not change and are great for those who spend a lot on gas and traveling and who are Sam’s Club members.

The card does not have a foreign transaction fee or annual fee as long as you are a Sam’s Club member (Membership starts at $45 a year). This card can be used anywhere Mastercard is accepted, not just at Sam’s Club.

  • APR: 15.65% or 23.65% Variable
  • Annual fee: $0
  • Balance Transfer Fee: N/A
  • Foreign Transaction Fee: N/A
  • Rewards Plan: 5% cash back on gas anywhere Mastercard is accepted (on the first $6,000 per year, then 1% after), 3% cash back on Sam’s Club purchases for Plus members, 3% on dining and takeout and 1% on all other purchases
  • Sign Up bonus: None
  • 0% APR Introductory Rate period: None
  • Cash Back on Gas, Restaurants and Travel & Other Spending
  • No Annual Fee
  • Higher cashback on Sam's Club purchases
  • Redemption Restrictions
  • No Sign-Up Bonus or 0% APR Introductory Rate
  • Rewards Cap

The Wells Fargo Active Cash℠ Card

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Wells Fargo active cash card

On Wells Fargo Website, Terms Apply

The Wells Fargo Active Cash℠ Card

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Reward details

2% 2% cash rewards on purchases (unlimited)

Current Offer

$200 $200 cash rewards bonus when you spend $1,000 in purchases in the first 3 months

Credit Rating

Good – Excellent

Annual Fee

$0

0% Intro

15 months from account opening on purchases and qualifying balance transfers

APR

15.24% – 25.24% variable

On Wells Fargo Website, Terms Apply

The Wells Fargo Active Cash Card does not charge any annual fee and stands out by it offers. You can earn 2% cash rewards on purchases (unlimited) on every purchase you make with this card, as well as a decent bonus for a card with no annual fee and an introductory 0% APR with a cash bonus.

Wells Fargo also offers built in protections against unauthorized transactions with additional security features such as Voice verification.

  • Rewards Plan: 2% cash rewards on purchases (unlimited)
  • APR: 15.24% - 25.24% variable
  • Annual fee: $0
  • Balance Transfer Fee: $5 or 5% (the greater)
  • Foreign Transaction Fee: 3%
  • Sign Up bonus: $200 cash rewards bonus when you spend $1,000 in purchases in the first 3 months
  • 0% APR Introductory Rate period: 15 months from account opening on purchases and qualifying balance transfers
  • Sign-Up Bonus
  • No Foreign Transaction Fee
  • Cashback on All Other Categories
  • No Annual Fee
  • 0% APR on Balance Transfers and Purchases
  • Minimum Redemption Amounts
  • Balance Transfer Fee
  • Lower Cashback Rate

  • Can I get car rental insurance? Yes, it offers rental insurance for cars if you pay for the full cost with this credit card and you decline the rental company’s insurance.
  • Is there a cash-back rewards limit? No cap
  • Does Wells Fargo Active Cash Card ask for proof of income? No out and out income requirements and normally you will not have to provide proof of income.
  • Can I get pre-approved on card Wells Fargo Active Cash CardYes, pre-approval is a possibility.
  • What is the initial credit limit ? It will usually be at least $500.
  • How do I redeem cash back? You are able to redeem the rewards in numerous ways. This includes as statement credit, as cash, withdrawn at an ATM, or redeemed as a gift card. You can also use the rewards when paying through PayPal at an online checkout.
  • What purchases don't earn cash back? All purchases will earn you cashback
  • Why did Wells Fargo Active Cash Card deny me? What to Do Next? Perhaps you did not meet all of the requirements. You can ask the customer service team what you need to do to get accepted or you can look at other card options.
  • How to Use Wells Fargo Active Cash Card Benefits? Use in conjunction with other cards and make the most of the signup offer.
  • Top reasons NOT to get the Wells Fargo Active Cash Card? If you want bigger cashback rates or don’t want to pay any foreign transaction charges.

Best Rewards Cards - What You Should Know?

What are Points Rewards Credit Cards?

Credit card rewards take the shape of many forms but they have one purpose: to give incentives to cardholders to push them to use the card more. Rewards would often fall into one of three categories: cash, points, or miles.

With a points rewards card, you get a certain number of points for every purchase that you make, such as 2X points per dollar amount. Now, depending on which card you are using, you can redeem the points for merchandise in the reward program’s online shopping mall. You may also choose to exchange your points for gift cards, cash, or even travel. Sometimes, you can transfer them to a partner airline or hotel loyalty program.

Which Type of Customer is the Best Fit For?

A rewards credit card is beneficial for anyone who normally charges most of their expenses through their credit card. They are the ones who can take advantage of it and accumulate points to redeem for their choice of rewards whether they be flights, cashback, items, or gift cards.

Points rewards work better for people who have more credit card experience and who are willing to exert more effort to get a good value for their points.

Leading Card Companies by Number of Cards in Circulation (Millions, USA)

How to Choose a Points Rewards Card?

There are some factors you should consider when thinking about points rewards card:

Rewards & Earn Rate

A nice points rewards credit card should give out bonuses. If you use it correctly, your rewards card can help you earn money. But it depends on the card that you will get. You should apply for one that best fits your spending habits. Earn rate means the number of points you will get for every $1 that you charge to your card. The rule of thumb is the higher points per dollar, the better. However, if you get a card that gives 1 point for every dollar, that’s more than acceptable.

Your first consideration should be a points rewards card that will give you something that would make sense for you. For example, if you travel a lot, a travel rewards card may be the right thing. It can offer you bonus points for airfare purchases and hotel bookings so you can get more points for your usual purchases.

What's Your Card Goal?

But before you apply for a credit card, decide what you want to accomplish by having a card. Is it to earn free stuff or to pay for an existing card debt thru a balance transfer facility? Consider your lifestyle – then pick a card that would complement your priorities and interests.

If you want a variety of rewards, you will find that there are a lot of good cash-back credit cards that can help you meet your goals. If you’re after consistency in your rewards for your usual purchases and only look after one card, you can’t go wrong with a cashback credit card.

Fees

If you plan to settle your card bill in full every month, you need not worry about the interest rate so, it’s almost immaterial. If you can continue doing this, you can improve your credit and perhaps later ask your issuer to bring your interest rate down.

Not all cards charge the same set of fees. When you see the fine prints of the Terms and Conditions of the card, don’t be intimidated – you can find the list of main fees printed prominently in their marketing materials. Some of the fees you should look out for are:

  • Annual fee – This is the fee that you pay for the convenience of having a credit card at your disposal. You’ll find that not all points rewards credit cards charge an annual fee.

  • Balance transfer fee – This is the fee that you pay if you avail of a balance transfer facility. This is a transaction that lets you transfer your outstanding balance from one card to the new card.

Issuers charge a percentage of the balance transfer. It’s commonly placed at 3% of the transaction amount or $5, whichever is higher. So, the higher the balance you want to transfer, the higher your fee would be.

  • Cash advance fee – The issuer will collect a cash advance fee when you avail of a cash advance or a similar transaction. Take note that overdraft protection and credit card convenience checks will also qualify as a cash advance transaction.

  • Foreign transaction fee – When you use your card to make a purchase in any foreign currency, your issuer might charge you a foreign transaction fee. Your issuer might compel you to pay this fee regardless of your physical location when you made the transaction as long as the currency is other than U.S. dollars.

When choosing a credit card, one of the things you need to consider is the free structure. In this chart compiled with creditcards.com data, we can see that late payment fees are the most common type of fee. This is followed by cash advance fees. At the other end of the scale, we can now see that over limit fees and annual fees are far less common. This highlights the importance of making payments on time, which can not only save on fees but help you to establish a solid credit history.

The Most Common Credit Card Fees

APR

APR stands for the annual percentage rate of the interest rate that you’ll pay every year as represented by the formula monthly rate X 12. But there’s more to it than meets the eye.

You’ll encounter things like introductory rates, variable rates that change depending on the balance that you retain on your card, and layers of rates that apply in different ways as you use your card. A good rule to follow when shopping for a cr