Rewards Credit Cards

Rewards credit cards can help you earn points, cash back, and other advantages when making your everyday purchases. Review the offers below to learn more about which card would be best for you.

Intro (Purchases)
0% Intro APR on Purchases 15 months
Intro (Transfers)
0% Intro APR on Balance Transfers 15 months
Annual Fee
$0
Regular APR
15.99% - 24.74% Variable
Credit Recommended
Good/Excellent
Intro Rewards Bonus
$150 Bonus

Highlights

  • Unlimited 1.5% cash back on every purchase - it's automatic
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 15.99-24.74%. Balance transfer fee is 5% of the amount transferred, $5 minimum
  • No minimum to redeem for cash back
  • Cash Back rewards do not expire as long as your account is open
  • No annual fee
See additional details for Chase Freedom Unlimited®

Intro (Transfers)
0% 12 months (on balance transfers made within 45 days of account opening)
Foreign Trans Fee
0%
Annual Fee
$89 - waived first year
Regular APR
16.99%, 20.99% or 23.99% Variable
Product Type
Consumer
Credit Recommended
Excellent

Highlights

  • Enjoy 40,000 bonus miles after you spend $3,000 on purchases in the first 90 days — that's enough to redeem for a $400 travel statement credit toward an eligible travel purchase
  • Earn 2X miles on all purchases
  • Get 5% miles back to use toward your next redemption, every time you redeem
  • Miles don't expire as long as your account is open, active and in good standing
  • No foreign transaction fees on purchases made while traveling abroad
  • 0% introductory APR for 12 months on Balance Transfers made within 45 days of account opening. After that, a variable APR will apply, 16.99%, 20.99% or 23.99%, based on your creditworthiness. There is a fee for balance transfers.

Intro (Purchases)
0% for 9 months
Intro (Transfers)
0% for 9 months
Annual Fee
$0
Foreign Trans Fee
None
Regular APR
13.99% - 23.99% (Variable)
Credit Recommended
Excellent, Good

Highlights

  • One-time $150 cash bonus after you spend $500 on purchases within 3 months from account opening
  • Earn unlimited 1.5% cash back on every purchase, every day
  • Use your Quicksilver card and get 50% back as a statement credit on your monthly Spotify Premium subscription, now through April 2018
  • No rotating categories or sign-ups needed to earn cash rewards; plus, cash back won't expire for the life of the account and there's no limit to how much you can earn
  • 0% intro APR on purchases for 9 months; 13.99%-23.99% variable APR after that
  • Balance transfers also have a 0% intro APR for 9 months; 13.99%-23.99% variable APR after that; a 3% fee applies to each balance transferred
  • Pay no annual fee or foreign transaction fees

Balance Transfer Fee
$0
Annual Fee
$0 intro for first year; $95 after that
Foreign Trans Fee
None
Regular APR
13.99% - 23.99% (Variable)
Product Type
ConsumerCard
Credit Recommended
Excellent, Good

Highlights

  • Enjoy a one-time bonus of 50,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $500 in travel
  • Earn unlimited 2X miles per dollar on every purchase, every day
  • Fly any airline, stay at any hotel, anytime
  • Travel when you want with no blackout dates
  • Miles won't expire for the life of the account and there's no limit to how many you can earn
  • No foreign transaction fees
  • $0 intro annual fee for the first year; $95 after that
  • Get a metal Venture Card when you apply today
See additional details for Capital One® Venture® Rewards Credit Card

Intro (Purchases)
0% 15 months
Intro (Transfers)
0% 15 months (on balance transfers made within 45 days of account opening)
Annual Fee
$0
Regular APR
15.99%, 20.99% or 23.99% Variable
Product Type
Consumer
Credit Recommended
Excellent

Highlights

  • Get a $200 cash rewards bonus after you spend $1,000 in purchases in the first 90 days after account opening
  • Earn unlimited 1.5% cash rewards on every purchase
  • Every time you redeem, get a 5% cash rewards redemption bonus to use toward your next redemption
  • Redeem your cash rewards for a deposit into a U.S. checking or savings account, a statement credit or gift cards. Redemptions start at $50
  • Cash rewards do not expire as long as your account is open, active and in good standing
  • Enjoy a 0% introductory APR for the first 15 months on purchases. Plus, you'll get a 0% introductory APR for 15 months on balance transfers for each balance transfer made within 45 days of account opening. After that a variable APR will apply, 15.99%, 20.99% or 23.99%, based on your creditworthiness. Please note, there is a fee for balance transfers
  • No annual fee

Annual Fee
$0 - $99
Foreign Trans Fee
3% or $1.00, whichever is greater
Regular APR
16.99% - 24.99% Variable
Credit Recommended
Fair

Highlights

  • This unsecured card requires no deposit and can help build your credit
  • Receive opportunities for credit line increases, a fee may apply
  • See if you Pre-Qualify in less than 60 seconds
  • Receive 1% cash back on eligible purchases, terms apply
  • Choose your monthly payment due date for added convenience, terms apply
  • Monitor your credit with free online access to your credit score

Intro (Purchases)
0% intro on purchases for 12 months
Annual Fee
$0.00
Balance Transfer Fee
none
Regular APR
13.90% - 23.90% (V)
Product Type
Consumer
Credit Recommended
Excellent/Good

Highlights

  • 5% Earnings on your first $5,000 in purchases every year. Unlimited 2% Earnings on every purchase after that. Redeem Earnings toward the purchase or lease of a new Chevrolet, Buick, GMC or Cadillac vehicle.
  • No annual fee, no redemption limits, no Earnings expiration, no foreign transaction fees. Save even more when you combine your available Earnings with most current GM offers and incentives.
  • 0% intro APR on purchases for 12 months, then a 13.90% – 23.90% variable APR on purchases will apply

Intro (Purchases)
0% for 12 months
Annual Fee
$0
Balance Transfer Fee
$0
Foreign Trans Fee
None
Regular APR
12.99% - 22.99% (Variable)
Credit Recommended
Excellent, Good

Highlights

  • Enjoy a one-time bonus of 20,000 miles once you spend $1,000 on purchases within 3 months from account opening, equal to $200 in travel
  • Earn unlimited 1.25 miles per dollar on every purchase, every day and pay no annual fee
  • Fly any airline, stay at any hotel, anytime
  • Enjoy a low intro APR on purchases for 12 months; 12.99%-22.99% variable APR after that
  • Travel when you want with no blackout dates
  • No foreign transaction fees
  • Miles won't expire for the life of the account and there's no limit to how many you can earn



Rewards credit cards are an excellent choice for consumers who are looking to earn exciting rewards for using a credit card. Many people prefer these over traditional credit cards because they can earn unique, interesting rewards or even get cash back on their statement. Additionally, rewards in certain categories or for certain retailers may have multipliers that allow you to earn extra points with each purchase. Read on to learn how you can make the best of rewards credit cards and take advantage of all the great deals out there.

What is a rewards credit card?

A rewards card is a credit card that offers rewards points for every dollar spent. These credit cards may give a percentage of money spent back to the cardholder in the form of cash rewards. With cash back rewards, users typically earn 1 or 2 points for every dollar spent. Alternatively, rewards points can be redeemed for other items such as travel vouchers, restaurant gift cards or vouchers towards purchases at a certain store.

There are many different types of rewards cards, so it’s important to look through all the options and find one that suits your needs. If you travel a lot, it’s best to get a credit card that offers points that can be redeemed for travel rewards, such as airline tickets or hotel rooms. If you spend a lot of money at a certain retailer, you might be better off getting a rewards credit card that gives you gift cards or points that you can spend in-store. Since rewards credit cards have become so popular in recent years, there are plenty of options to suit many different lifestyles.

How do rewards credit cards typically work?

There are several different ways that credit cards rewards programs can work. With traditional cash rewards, the rewards can be redeemed in the form of a statement credit or as cash deposited directly into the cardholder’s bank account. With other rewards such as travel or hotel rooms, rewards points can typically be redeemed for airline miles or hotel vouchers that can be used at certain locations. Some credit card companies also offer online shops where cardholders can choose to spend their rewards points directly on items such as gift cards or even electronics.

You can choose to save your rewards points or to spend them right away. If you let your rewards points build up for a while without spending them, you may be able to save up for excellent rewards such as enough airline miles to fly around the world, or enough rewards points to buy a gift card that will cover your groceries for several months.

Who should consider a rewards card?

A credit card offering rewards is a great choice for both first-time and veteran credit card users. The rewards system is easy to understand, so it’s ideal for someone who may not be familiar with how credit card reward programs work. It’s great for new users to be able to earn rewards for their spending and see the points add up.

Although rewards cards are great for first-time users, they’re also an excellent choice for people who have used credit cards for years. Veteran credit card users will enjoy the fact that credit card companies are showing appreciation to their customers by offering rewards. Many credit card companies do nothing to reward their users for their loyalty, so someone who is sick of never being shown any appreciation will appreciate a rewards credit card.

Shoppers everywhere will enjoy being able to choose between many different rewards such as cash back, airline miles, or gift cards. One of the greatest things about rewards credit cards is that there’s something for everyone. Anyone with good credit should consider a rewards card, whether it’s their first credit card or they’ve been using credit for decades.

What type of credit is typically required to be approved for a rewards card?

To be approved for a rewards card, your credit should generally be above 600. You’ll be more likely to be accepted if you have a detailed credit history, a reliable source of income and a decent credit score. Some companies will accept you even if you don’t meet all these requirements, but their rewards program might not be as good.

If you’ve paid your credit card bills on time for two years or more, you most likely have a detailed credit history. Credit card companies will also take loan payments into account. If you’re employed with a steady job, a credit card company will feel confident that you’ll be able to pay your bill on time. Your credit score is extremely important because this is the most solid form of proof that you know how to manage your credit card bills and pay your debts on time. Having a good credit score of at least 670 is the most important requirement for getting approved for a rewards credit card.

Do rewards cards typically have annual fees?

Whether you’ll pay an annual fee depends on the specific credit card and the company. Many rewards cards without annual fees are available. However, cards with annual fees may be provide worthwhile incentives that make the extra fee worth it. Their rewards programs might be better and you may earn more points for each dollar you spend.

You can expect to pay a high annual fee for cards with excellent rewards. If you typically spend a lot anyway, it might be worth it to pay the annual fee. The rewards are notably better on credit cards with annual fees, so it’s up to you to decide whether the extra charges are worth it.

There are plenty of rewards cards with and without annual fees, so you’re bound to find something that works for you.

How can you save money with a credit card that offers rewards?

A rewards credit card will help you save money with every single purchase. You’ll earn rewards for every transaction, no matter how small. These rewards can be redeemed for useful goods and services, or even cash in some cases. Every trip to the mall, grocery store, or gas station turns into an opportunity to save money.

If you spend a lot of money at a certain retailer, you might be able to find a specific credit card that will earn you extra rewards points when you shop there. For example, you might be able to score a credit card offer that will give you 5% back on every purchase at your favorite store. This is an excellent opportunity to save money and come out ahead.

Having a great rewards credit card gives you a bonus anywhere you shop. This can turn out to be invaluable for people who spend a lot of money on credit cards.

When presented with a rewards credit card offer, what should you consider?

There are many things you should consider when receiving a rewards credit card offer. First, you should check the interest rate and make sure it’s something you’re comfortable with. Even if a card has amazing rewards, it can end up costing you money and putting you in debt if the interest rate is too high. You should also see if there are annual fees and make sure they’re something you can handle.

You should also consider whether the rewards credit card offers balance transfers. This can be convenient if you plan on transferring your old balance to this new card at a lower interest rate.

It’s also important to consider what incentives you’ll receive for signing up with each card. Some cards allow you to accumulate rewards points at much higher speeds than others. Some cards also have a system of “rewards categories” which allow you to get an extra reward for spending your money at a certain retailer each month. These promotions allow you to rack up extra rewards points at no extra cost to you, which can be a great way to redeem your rewards for exciting offers.

Be sure to keep an eye out for lower interest, better rewards, and more useful rewards categories when considering any credit card offer. There could be many better cards out there.

If you carry a balance, is a rewards card worth it?

Although a rewards card can sometimes be useful for someone who carries a balance, it might not be the best choice. Annual percentage rate of charge, or APR, is generally higher on credit cards with good rewards programs. Your rewards may be offset by high interest if you carry a balance and plan on getting a rewards credit card. It may be more sensible to apply for a credit card with low APR until your balance is paid in full.

What types of credit card rewards programs are typically available?

There are plenty of rewards programs available to choose from. Some credit cards allow you to redeem your rewards points on airline miles or gas, and others allow you to have more freedom and earn cash back rewards. You can even get rewards credit cards that give you gift cards for a particular store.

By researching all the available options on the market, you’ll be able to find a rewards credit card that suits your exact needs. It’s best to “shop around” and look for a card that’s best suited to your lifestyle.

How can I maximize my rewards?

Sometimes credit card companies to offer up to 5% back on certain purchases in special reward categories or at certain retailers. These special deals allow you to earn extra rewards for your purchases and build up rewards points faster.

Many cards will offer rewards categories that change by the month. These allow you to maximize your rewards and earn points at a faster rate. These categories can be viewed on the card’s website every month. Many companies will also keep you updated by sending you the categories through the mail.

Rewards categories change throughout the year, and can vary depending on the quarter you’re in or other factors. In situations like this, you might want to have two rewards credit cards so you can take advantage of all the categories at different times.

Will I get a bonus for signing up for a card with rewards?

It’s possible to earn excellent bonuses when you sign up for a new rewards credit card. There are many excellent sign-on bonuses available with rewards cards. You’ll be able to earn between $100 and $200 on average if you spend enough money in the first few months of opening your account. The sign-on bonus normally shows up as a statement credit.

You may also be able to take advantage of deals such as no interest for a year on purchases and balance transfers. Do your research before signing up for a rewards credit card to make sure you find the best possible deal.

Why should I choose a rewards card over a regular credit card?

The answer is simple: Because you can earn great rewards without doing anything extra! Rewards cards have the same capabilities as normal credit cards, but you get the bonus of earning rewards with every single purchase. Why wouldn't you want to save up airline miles for your next trip or earn free groceries with every swipe of your card? With rewards credit cards you can often get the same APR and credit limits as with non-rewards cards, so there's really no reason you shouldn't go for the extra bonuses.

How can I apply for a rewards credit card?

The easiest way to apply for a rewards card is on the company’s website. Applying online saves time and effort. Instead of sending forms through the mail and waiting for an answer, you may be able to be instantly approved for a rewards credit card by filling out some forms online.

If you have good credit, it’s common to receive rewards credit card offers in the mail. You may even be pre-approved for certain cards. If you receive an offer, you can respond through the mail by filling out the forms sent to you by the company.

Can I get a better rewards credit card based on my credit score?

Having a high credit score will make you eligible for the best rewards credit cards. However, you’ll still be able to qualify for decent rewards credit cards without an excellent credit score. People with excellent credit may have access to more variety in rewards categories and higher percentage of rewards. This is good incentive to pay your bills on time and work towards having an excellent credit score.

What is APR and why is it important to find a card with low APR?

APR, or annual percentage rate, is the interest rate you’ll pay each year. Credit cards with lower APR will allow you to pay less interest over the course of the year. When applying for a new credit card, finding one with low APR is key. This could save you a lot of money on interest through the years.

Why do rewards credit cards have higher APR?

It’s common for rewards cards to have higher APR because of the excellent rewards they offer. If low APR is important to you, you might find it easier to work with a card without extravagant rewards.

Cards that offer less enticing rewards often have a lower APR rate and will end up charging you less interest. However, you might be missing out on the opportunity to earn extra rewards points and maximize your potential rewards. It's up to you to decide if higher APR is a fair trade-off for better rewards.

Do I get to keep my rewards points indefinitely?

How long you’ll be able to keep your rewards points depends on your individual credit card company. There may be policies in place that prevent you from storing your rewards for years on end. To avoid losing your hard-earned rewards points, you should check the policy of your credit card company. You should also try to spend your rewards semi-regularly to make sure you don’t waste them.

What happens to my reward points if I miss a payment?

It’s unusual for companies to deduct rewards points you’ve already earned in previous months as punishment for missing a payment, but you should always try to avoid missing a payment if you can help it. Some credit cards won’t allow you to earn rewards points for that month if you miss a payment. Policy varies by company, so you should check with your individual credit card company to be sure.

Can I get a rewards credit card if I have poor credit?

It can be difficult to get a rewards card with poor credit. Many people with poor credit have to obtain a secured credit card instead, and it’s not common for these to have rewards. If your credit score is low, consider building up your credit using a secured card. After your score is raised, you’ll be able to qualify for a better rewards credit card.

Remember that credit card companies are offering rewards as an incentive to attract customers. They're generally looking for customers they can trust to pay their bills on time, so they aren't going to offer rewards to attract customers that might not be able to pay. When you think of it from the perspective of the credit card companies, you can see why they don't offer rewards to people with poor credit.

Can I pay my credit card bill with rewards?

Whether or not you can pay your entire credit card bill with rewards depends on the individual card. Some credit cards only offer you to redeem points for airline miles or other goods and services. Others will let you redeem your rewards for cash back or a statement credit. If you’re allowed to redeem your rewards for a statement credit, it’s possible to pay your bill with rewards alone.

Are there limits to how much I can earn in rewards per month?

Some credit cards have limits to the amount of rewards you can earn per month. Caps on rewards are not uncommon, especially with some of the categories where you can earn rewards at an increased rate.

For example, a credit card may offer a reward category of 3.5% back on gas, but only up to $5,000. Any amount you spend past $5,000 would earn the normal reward rate of 1%.

Some credit cards with annual fees may have no monthly limit on rewards. These cards are also often reserved for people with excellent credit.

Are there other benefits to rewards credit cards besides the obvious financial incentives?

Using a rewards card can make it easier to manage your finances. Many people find it much easier to use credit cards rather than checks to pay their bills. Paying with a card simplifies the process and saves time. Credit cards are also great to use on large purchases, because you can save yourself the hassle of carrying money around and counting bills.

Do I have to report rewards on my income taxes?

Credit card rewards are not usually considered income by the IRS, and are instead considered a discount. You normally don’t have to report rewards on your income taxes.

However, this is entirely dependent on your credit card company’s policies. You should check with your credit card company before filing taxes so you don’t miss anything important. If you do have to report your rewards to the IRS, you should use form 1099 MISC.

Are rewards cards a good choice for small businesses?

Rewards cards are an excellent choice for small businesses. They allow your employees to earn rewards while traveling for work and making purchases with their company cards. Earning rewards on business expenses is a great way to save money. For example, if your employees travel frequently and earn a lot of rewards, they can earn enough airline miles to travel for free the next time around.

There are even special rewards programs designed specifically for small businesses. You may be able to earn extra rewards on office supplies and other categories that would be useful to small businesses. Furthermore, small businesses may be eligible for reduced interest costs with some credit cards. Rewards credit cards are a great choice for small businesses and have many exciting perks.

Are my rewards transferable? Can I share them with friends or family members?

Rewards are usually non-transferable, and can’t be shared with friends and family members. Credit card companies don’t normally allow you to transfer your points to a different account.

If you want to share your rewards points and buy a gift for a friend or family member, you should simply redeem your rewards points and give the gift to them directly. This avoids going through the trouble of dealing with your credit card company if you want to use your rewards points to buy a gift.

Can my family member use my rewards card to make purchases?

Only the cardholder and authorized users can use your rewards credit card. To add an authorized user you have to fill out a form either on your credit card company’s website or through the mail. For your protection, credit card companies only allow family members to be added to the account and will not allow you to add friends.

Why do companies offer rewards? How does it benefit them?

There is a lot of competition between credit card companies, and each company is trying to please their customers and offer the best incentives. Credit card companies are offering exciting rewards because they’re finding that’s what consumers want. By offering excellent rewards programs, credit card companies can attract more customers and rise above the competition.

What if my rewards credit card is lost or stolen?

If your rewards credit card is lost or stolen, contact your credit card company immediately. Your card will be cancelled and you will be issued a new one with a different number and security code. You will not be held accountable for any fraudulent purchases made on your card, and any false charges will be removed from your statement.

Is it a good idea to have more than one rewards credit card?

Only you can decide if you should have more than one rewards credit card. Having more than one card allows you to take advantage of different rewards categories offered throughout the year. Alternating cards allows you to maximize your rewards and earn the most points. However, it may be confusing to carry different cards and you may find it to be more trouble than it’s worth.

If credit cards are paid on time and managed effectively, there’s no harm in having multiple rewards cards. It will potentially allow you to earn more rewards points, as long as you’re responsible. Just be sure you're comfortable with managing multiple credit cards and paying several different bills on time each month.

Will applying for a rewards card impact my credit score?

Applying for any credit card, including a rewards card, will cause an inquiry to show up on your credit score. One inquiry is rarely an issue and will not cause you any trouble. However when multiple inquiries show up in a short amount of time this can cause your credit score to drop slightly. You can avoid this by not applying to a lot of different credit cards in a short time period.

You should only apply for credit cards you’ll use regularly. Also, stagger your credit card applications so companies don’t think you have risky spending habits. It’s best to only apply for a few cards that you know you’ll use long-term.

Should I close my rewards credit card if I’m not using it?

Contrary to popular belief, it’s not always best to close an unused credit card to avoid identity theft. The best course of action is to keep your credit card stored in a safe place until it expired. Closing an account early may cause your credit score to drop, which you’ll want to avoid at all costs.

Closing your credit card account early may increase credit utilization on your credit report. This can lower your credit score, and will possibly be a bad sign to banks and credit card companies. Also, closing your credit card account early may make your credit history seem shorter. This can look bad to lenders when you apply for loans in the future.

Am I automatically enrolled in a rewards program by signing up for a card or do I have to sign up manually?

Whether or not you’re automatically enrolled in a rewards program depends on our credit company. Some companies automatically sign you up for their rewards program when the card is issued, but other require you to call their customer service team to activate your rewards.

Additionally, you may also have to activate your rewards categories each quarter. If your credit card frequently changes bonus categories, in some cases you may have to activate your rewards on the company’s website each time the categories change.

If my card is lost or stolen will I lose my rewards?

If your credit card is lost or stolen, do not worry. Reward points are not associated with a physical card, but rather your account.

*See online credit card application for details on the terms and conditions.