There are so many rewards credit cards around now that it can feel overwhelming trying to figure out which one is right for you. So we did some digging to find which are the best rewards credit cards out there, weighing the different rewards and features and picking the cards that give you the most money for your membership. Here’s how we did it:
Criteria We Used to Find Best Credit Cards
Introductory rewards: These are the rewards you get when you first sign up for the card, such as getting 10,000 bonus miles when you spend $500 within the first 3 months. Our top card below gives you $400 when you spend $1,000, which is kind of insane.
Overall rewards: These are any rewards the card comes with, whether it be their cash back percentage (Discover it offers 5% cash back on certain categories) or other cash back or reward bonuses that you can accrue.
Fees: Does the card have an annual fee or a late fee? Cards without fees are better, of course. We tried to pick cards that have no annual fees, even if it is just for the first year.
Best APR: Many cards give you an introductory period with a 0% APR, so you aren’t paying any interest for up to a year and half. It’s an essential bonus feature to have on any card. Also, having a low APR overall will make it easier on your wallet if you do have to pay interest eventually.
Best for Cashback Rewards: Discover it® Card
- 0% intro APR on purchases & balance transfers for 14 months – then a variable purchase APR applies, currently 10.99% – 22.99%. A 3% fee applies to each transferred balance.
- Over 5,000 cardmembers rated 4.8 out of 5 stars* and now Discover “Ranked Highest in Customer Satisfaction with Credit Card Companies in a Tie” by J.D. Power*.
- 5% cash back for online shopping and department store purchases on up to $1,500 – Oct. through Dec. 2014 when you sign up*. 1% cash back on all other purchases.
- Free FICO® Credit Score online and on monthly statements*.
- No annual fee, no late fee for your first late payment – APR won’t go up for paying late, no overlimit fee and no foreign transaction fee.*
- Each Discover purchase is monitored. If it’s unusual, you’re alerted by e-mail, phone or text-and never responsible for unauthorized Discover card purchases.
- 100% U.S.- based customer service-anytime, day and night.
- *See rates, rewards, free FICO® Credit Score terms and other info by clicking “Apply.”
Best for Travel Rewards: The Lufthansa Premier Miles & More World MasterCard®
- Earn 20,000 award miles after your first purchase or balance transfer
- Earn up to 15,000 award miles with balance transfers (1 mile per $1 transferred) within 30 days of account opening
- Earn 2 award miles per $1 on ticket purchases directly from Miles & More integrated airline partners
- Earn 1 mile per $1 on all other purchases
- Annual Companion Ticket after first purchase
- No foreign transaction fees on purchases made outside the U.S.
- Redeem miles for flight awards and upgrades on Lufthansa, Austrian Airlines, Brussels Airlines, SWISS, Star Alliance airlines and other partners
- $79 Annual Fee, waived for SEN and HON Circle Members
- Apply for the card here
Best Low APR Credit Card: Barclaycard® Ring MasterCard®
- No Balance Transfer Fees – start saving immediately!
- A low 8% variable APR on balance transfers and purchases
- No Annual Fees
- Choose your card benefits and features
- Get rewarded through the new Giveback(TM) program, where Barclaycard Ring members get money back for good performance
- Get exclusive access to the online community and vote on the card features you like and view the financials of the Barclaycard Ring MasterCard online
- Learn more about personal finance from Barclaycard and other members
- Complimentary FICO® Scores as a benefit to active cardmembers. Opt-in to have instant and convenient access to FICO® Scores from your Barclaycard online account.
- Apply for the card here.