The best rewards credit cards in September 2024 earn points, miles or cash back on your everyday spending
Published 4:32 PM EDT, Thu June 6, 2024
Using a rewards credit card is a way to get rebates for your purchases in the form of cash back, points or miles that you can use to book travel, buy gift cards, shop online and more. The best rewards credit cards often offer extra payouts in everyday spending categories such as groceries, gas or dining, which can help you build a stash of rewards quickly.
Rewards credit cards can also provide other valuable benefits, such as welcome bonuses, introductory 0% annual percentage rate (APR) promotions, statement credits to cover select purchases and travel perks.
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Earn 60,000 Membership Rewards? Points after you spend $6,000 on eligible purchases on your new Card in your first 6 months of Card Membership. Plus, receive 20% back in statement credits on eligible purchases made at restaurants worldwide within the first 6 months of Card Membership, up to $100 back. Limited time offer. Offer ends 11/6/24.
Credit Score ranges are based on FICO? credit scoring. This is just one scoring method and a credit card issuer may use another method when considering your application. These are provided as guidelines only and approval is not guaranteed.
Our team of experts reviewed dozens of rewards credit cards, considering various factors including fees, rewards, APRs and benefits. Using a data-based approach, we narrowed down the list to the top 10 credit cards that scored highly based on our weightings. Read our full methodology below.
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Capital One Venture Rewards Credit Card: Best rewards credit card
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Capital One Venture X Rewards Credit Card: Best premium rewards card
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Chase Sapphire Preferred? Card: Best mid-tier travel rewards card
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Citi Strata Premier? Card: *Best bonus categories
The information for the Citi Strata Premier? Card has been collected independently by CNN Underscored. The card details on this page have not been reviewed or provided by the card issuer.
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Wells Fargo Active Cash? Card: Best cash back card
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JetBlue Plus Card: Best domestic airline card
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IHG One Rewards Traveler Credit Card: *Best no annual fee hotel card
The information for the IHG One Rewards Traveler Credit Card has been collected independently by CNN Underscored. The card details on this page have not been reviewed or provided by the card issuer.
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Marriott Bonvoy Boundless? Credit Card: *Best mid-tier hotel card
The information for the Marriott Bonvoy Boundless? Credit Card has been collected independently by CNN Underscored. The card details on this page have not been reviewed or provided by the card issuer.
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Marriott Bonvoy Brilliant? American Express? Card: Best premium hotel card
Capital One Venture Rewards Credit Card
The CNN Underscored Money editorial team has developed a star rating so you can see the best card for specific categories. While we believe this card excels in this category, its overall star rating may differ.
Capital One Venture X Rewards Credit Card
The CNN Underscored Money editorial team has developed a star rating so you can see the best card for specific categories. While we believe this card excels in this category, its overall star rating may differ.
Chase Sapphire Preferred? Card
The CNN Underscored Money editorial team has developed a star rating so you can see the best card for specific categories. While we believe this card excels in this category, its overall star rating may differ.
Citi Strata Premier? Card
*The information for the Citi Strata Premier? Card has been collected independently by CNN Underscored. The card details on this page have not been reviewed or provided by the card issuer.
The CNN Underscored Money editorial team has developed a star rating so you can see the best card for specific categories. While we believe this card excels in this category, its overall star rating may differ.
Wells Fargo Active Cash? Card
The CNN Underscored Money editorial team has developed a star rating so you can see the best card for specific categories. While we believe this card excels in this category, its overall star rating may differ.
JetBlue Plus Card
The CNN Underscored Money editorial team has developed a star rating so you can see the best card for specific categories. While we believe this card excels in this category, its overall star rating may differ.
IHG One Rewards Traveler Credit Card
*The information for the IHG One Rewards Traveler Credit Card has been collected independently by CNN Underscored. The card details on this page have not been reviewed or provided by the card issuer.
The CNN Underscored Money editorial team has developed a star rating so you can see the best card for specific categories. While we believe this card excels in this category, its overall star rating may differ.
Marriott Bonvoy Boundless? Credit Card
*The information for the Marriott Bonvoy Boundless? Credit Card has been collected independently by CNN Underscored. The card details on this page have not been reviewed or provided by the card issuer.
The CNN Underscored Money editorial team has developed a star rating so you can see the best card for specific categories. While we believe this card excels in this category, its overall star rating may differ.
Marriott Bonvoy Brilliant? American Express? Card
The CNN Underscored Money editorial team has developed a star rating so you can see the best card for specific categories. While we believe this card excels in this category, its overall star rating may differ.
Our picks at a glance
| Annual fee | Welcome bonus | Best for | Top rewards rate | |
|---|---|---|---|---|
Capital One Venture card
| $95
| 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel
| General travel rewards
| 5 miles per dollar on hotels and rental cars booked through Capital One Travel
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Venture X
| $395
| Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel.
| Premium travel benefits
| 10 miles per dollar on hotels and rental cars booked through Capital One Travel
|
Sapphire Preferred
| $95
| 60,000 bonus points after you spend $4,000 on purchases in the first three months from account opening
| Mid-tier travel rewards
| 5 points per dollar on travel purchased through Chase Travel?
|
Citi Strata Premier
| $95
| 70,000 bonus ThankYou? Points after spending $4,000 in the first three months of account opening
| Bonus rewards on everyday spending
| 10x points on hotel spending, car rentals and attractions reserved through cititravel.com
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Wells Fargo Active Cash
| $0
| $200 cash rewards bonus after spending $500 in purchases in the first three months
| Cash back
| Earn 2% cash rewards on purchases
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Aeroplan Credit Card
| $95
| 70,000 bonus points after you spend $3,000 on purchases in the first 3 months from account opening
| International flights
| 3 points per dollar spent on dining, grocery stores, and direct spending with Air Canada (including on vacations and cruises), plus 1 point per dollar for all other eligible purchases
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IHG One Rewards Traveler
| $0
| Earn 80,000 bonus points after spending $2,000 on purchases within the first 3 months of account opening.
| Hotel rewards and perks with no annual fee
| 5 points per dollar spent at IHG hotels and resorts
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Marriott Bonvoy Boundless Credit Card
| $95
| Earn Earn 3 Free Night Awards after spending $3,000 on purchases in the first 3 months of account opening.
| Mid-tier hotels
| 6 points per dollar spent at participating Marriott Bonvoy hotels
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Marriott Bonvoy Brilliant
| $650
| 185,000 Marriott Bonvoy bonus points after spending $6,000 in purchases within the first six months of card membership. Terms apply.
| Premium hotel and dining benefits
| 6 points per dollar at participating Marriott Bonvoy hotels
|
Types of rewards credit cards
- Cash back credit cards: Cash back credit cards typically offer straight cash back on every purchase you make. Depending on the card, you may receive the same rewards rate on all spending, tiered rewards where the rewards rate depends on the spending category or rotating bonus categories where rewards rates can change over time.
- General rewards credit cards: These credit cards offer points that you can redeem in a variety of ways. Options may include cash back, gift cards, travel, online shopping and even charitable donations. Some general travel rewards programs may also allow you to transfer your points to select airline and hotel loyalty programs for added flexibility.
- Co-branded airline credit cards: Co-branded airline cards allow you to earn miles or points with a single frequent flyer program. In many cases, they also offer perks when you fly with the airline, such as priority boarding, a free checked bag and savings on in-flight purchases.
- Co-branded hotel credit cards: Like airline cards, co-branded hotel credit cards offer rewards with a single hotel loyalty program. Many also offer elite status with the hotel chain, which can give you perks such as early check-in, late checkout and room upgrades when available during your stays. Some cards also offer a complimentary one-night stay each year.
What are rewards credit cards?
Rewards credit cards are cards that offer cash back, points or miles when you use them to make purchases. However, they typically don’t offer rewards on cash advances, balance transfers and other transactions that aren’t considered purchases. Using rewards credit cards can help consumers make the most of their everyday spending.
Who should consider a rewards credit card?
Whether you want to earn cash back to help offset your expenses or prefer stocking up on points and miles to use for a vacation, a rewards credit card can help. Getting something back for purchases you make anyway is a low-effort way to save money, plus rewards credit cards often come with purchase protections and other benefits that can make your life a little easier.
Consider a rewards credit card if you spend less than you earn. Carrying a balance on a credit card can result in costly interest charges, which can nullify the value you get from your rewards.
How to choose the right rewards credit card
Before choosing any credit card, you should understand your financial position and the card’s application requirements. If you are considering rewards credit cards, you should aim to have good or excellent credit.
Consumers with higher scores are more likely to be approved for the best rewards credit cards. Additionally, card issuers may have restrictions based on how many credit cards you already have with the issuer or how many credit cards you’ve opened recently overall.
Some issuers let consumers see offers they may qualify for via online pre-qualification or preapproval. Checking offers in this way won’t affect your credit and can help you avoid rejection.
With all that in mind, here are some factors to consider as you research rewards credit cards.
Points vs. miles vs. cash back rewards
Think about how you want to use the rewards you earn on your everyday spending. If you prefer simplicity and flexibility, for instance, a cash back credit card may be the right choice.
If you regularly fly with a particular airline or use a certain hotel chain, you may want to consider a points- or miles-earning co-branded airline or hotel rewards card.
With airline or hotel loyalty programs and general rewards cards you may be able to get more value out of your rewards based on how you redeem them, including by transferring your rewards to other loyalty programs.
Welcome bonus offers
When you open a new credit card, you may qualify for a welcome bonus — some amount of money or points in exchange for spending a certain amount in a set period. Many cash back credit cards offer welcome bonuses totaling between $100 and $250, with minimum spending thresholds ranging from $500 to $3,000.
Rewards cards with annual fees tend to have higher sign-up bonuses and spending requirements. Credit card issuers also run limited-time promotions, where you can earn a higher bonus. With time and patience, you may be able to snag a standout offer.
Before you apply for a card, take a look at your budget to determine if you’d meet the spending requirement to earn the card’s welcome offer.
Earning rates and spending habits
Knowing how much you spend each month, and what you buy, will also help you choose the best rewards credit card. Categorize your expenses over the past few months to understand where your money is going.
If you spend a lot on groceries, for instance, focus on cards that offer bonus rewards on grocery store purchases. The same goes for other everyday spending categories, such as gas, dining, travel, streaming subscriptions and online shopping. If you don’t spend a lot in any one area or you don’t want to keep track of different rewards rates and spending categories, opt for a card that offers the same rewards rate on everything.
Fees
The first fee to watch out for with a rewards credit card is the annual fee. While credit card annual fees aren’t inherently bad, make sure you can get enough value from the card’s benefits and rewards program to offset the yearly cost.
If you want to transfer a balance from another card, consider the balance transfer fee, which typically ranges from 3% to 5% of the transfer amount. And if you plan to travel abroad, consider a card that doesn’t charge a foreign transaction fee, which can be as much as 3% of each international purchase.
How do I redeem my credit card reward points?
Rewards redemption options can also vary depending on which card you choose. You may be able to redeem for a statement credit, direct deposit or paper check. Some cards also allow you to use your rewards to buy gift cards, shop online or book travel.
With co-branded airline and hotel credit cards, you can expect to redeem your points or miles through the airline or hotel loyalty program.
Benefits of a rewards credit card
Beyond the rewards programs, make sure you understand the benefits and perks each card offers. Focus on perks that you’ll use.
For example, if you have a large purchase coming up or need to pay down a high-interest credit card balance, a 0% APR promotion could save you a lot of money. If you’re a frequent traveler, you may gravitate toward rewards cards with travel perks, such as statement credits to cover select travel expenses, airport lounge access or special perks with an airline or hotel chain.
You’ll often see built-in protections on rewards credit cards as well, such as cell phone insurance, trip delay coverage or extended warranty.
Limitations of a rewards credit card
Rewards credit cards often involve trade-offs. For example, a high rewards rate on certain purchases might sound appealing, but if you don’t spend enough in a card’s bonus categories to justify the annual fee, the card might not be worth it. Similarly, cards that advertise upscale benefits such as airport lounge access and travel credits almost always have an annual fee. Again, you’ll want to consider whether these perks are worth it.
And it bears repeating — if you carry a balance on your credit cards, the value of the rewards you earn can get wiped out by interest charges. Don’t spend beyond your means just to earn rewards.
How to maximize your credit card rewards
- Make a plan to track your rewards. You’ll typically be able to keep track of your benefits and rewards balance in your online account or mobile app. If you have multiple rewards credit cards, however, it can help to maintain a spreadsheet or use an online tool to track everything. If you’re earning rewards for a specific purpose, keep in mind that it can take several weeks for your cash back, points or miles to post to your account — often after your statement closes each month.
- Evaluate your redemption options. You’ll also want to know the value of each of your redemption options. While some cards offer a lot of flexibility in how you can use your rewards, you may get less value for online shopping, gift cards and even cash back than travel, for example.
- Prioritize paying your balance in full. Finally, while unexpected events can make it difficult to pay your balance in full every month, make this a priority. If you carry a balance, the interest charges can quickly negate the value of the rewards you earn.
- Consider opening multiple cards. Having multiple cards can open up bonus rewards on different spending categories. For purchases that don’t fall within bonus rewards categories, look for a card that earns more than 1% cash back or 1 point per dollar on everything. Also, think about using cards in different rewards programs to diversify your redemption options. Or, you may want to pair cards from the same program to accelerate your earning power with that program. Remember that you are responsible for making on-time payments on all of your accounts, which will require planning and organization.
Methodology
Our money and data analytics teams evaluated over 200 rewards credit cards. From there, we narrowed down our list of the best rewards credit cards by giving them a star rating out of five, based on the following factors and our editorial judgment:
Rewards value (30%)
Not all credit card points and miles have the same value. We used spending data from the Bureau of Labor Statistics and estimates of rewards values from The Points Guy to determine which cards dole out the best rewards value.
Select fees (25%)
Cards with no annual fee and no foreign transaction fee received a boost compared to cards with higher fees.
Welcome bonus value (20%)
Many rewards cards offer bonus cash back, points or miles to consumers who spend a certain amount in their first months with the card. We calculated how much those bonuses are worth using points valuations from The Points Guy, and boosted cards that offer more value.
Benefits (20%)
Cards that offer benefits such as cell phone protection, purchase protection, extended warranty and a 0% introductory APR on purchases and balance transfers received a boost.
Annual credits and bonuses (5%)
Credit cards that come with credits and bonuses for spending in categories including groceries, dining, entertainment and gas received a boost.
What didn’t make the cut
- Chase Sapphire Reserve?: The premium travel credit card offers valuable travel credits and complimentary airport lounge access, but makes it a little harder to recoup the annual fee compared to the Venture X.
- Chase Freedom Flex? * The information for the Chase Freedom Flex? has been collected independently by CNN Underscored. The card details on this page have not been reviewed or provided by the card issuer. : The card offers 5% cash back on up to $1,500 spent each quarter in rotating spending categories (requires activation), but its base earning rate is 1%, which is lower than Wells Fargo Active Cash’s 2%.
- Discover it? Cash Back * The information for the Discover it? Cash Back has been collected independently by CNN Underscored. The card details on this page have not been reviewed or provided by the card issuer. : The card also offers 5% cash back on up to $1,500 spent quarterly in rotating categories, similar to the Chase Freedom Flex? * The information for the Chase Freedom Flex? has been collected independently by CNN Underscored. The card details on this page have not been reviewed or provided by the card issuer. , but only earns 1% cash back on other spending.
Frequently asked questions (FAQs)
Many rewards credit cards charge annual fees, but not all of them do. In particular, many cash back credit cards don’t have an annual fee, while many travel credit cards do. If you’re considering a rewards credit card that charges an annual fee, evaluate the card’s benefits and rewards program to determine whether you can get enough value each year to offset the cost.
In many cases, yes, though it depends on the issuer and the specific cards you have. With Chase cards, for example, you can transfer rewards earned from one card to another card within the same rewards program. American Express, on the other hand, typically pools all the points you earn with its flagship rewards program automatically, so you don’t have to take the extra step.
Many rewards credit cards allow you to redeem your rewards for travel expenses. Some rewards programs have their own booking platform where you can book various types of travel, while others let you get a statement credit for previous travel purchases you’ve made with your card. If you have a general travel rewards card, you may also be able to transfer your points or miles to partner airline and hotel rewards programs.
No single rewards program is best for everyone, so consider your spending habits and preferences to determine the right fit for you. If you’re comparing general points and travel rewards programs, make sure you understand how flexible your redemption options are and whether you can get more value with certain redemptions.
Yes, most rewards credit cards allow balance transfers and cash advances, though these transactions don’t earn rewards. Some cards even offer an introductory 0% APR promotion on balance transfers, allowing new card holders to pay off debt interest-free for a year or more. You’ll usually have an upfront fee for cash advances and balance transfers, and cash advances also typically carry a higher interest rate than purchases. Finally, unlike with purchases, you’ll normally begin accruing interest on balance transfers and cash advances immediately.
To view rates and fees for Marriott Bonvoy Brilliant? American Express? Card, please visit this page.
All information about Chase Freedom Flex?, Citi Premier? Card, Citi Strata Premier? Card, Discover it? Cash Back, IHG One Rewards Traveler Credit Card, JetBlue Plus Card and Marriott Bonvoy Boundless? Credit Card has been collected independently by CNN Underscored.
Editorial Disclaimer: Opinions expressed here are the author's alone, not those of any bank, credit card issuer, airlines, hotel chain, or other commercial entity and have not been reviewed, approved or otherwise endorsed by any of such entities.
This content is for educational purposes only and is not intended and should not be understood to constitute financial, investment, insurance or legal advice. All individuals are encouraged to seek advice from a qualified financial professional before making any financial, insurance or investment decisions.
Note: While the offers mentioned above are accurate at the time of publication, they're subject to change at any time and may have changed or may no longer be available.
