ImagePixel/Getty Photographs; Illustration by Issiah Davis/Bankrate
Key takeaways
- The perfect bank card rewards packages provide a number of methods to earn and redeem rewards, plus higher-value redemption choices.
- Many bank card rewards packages additionally characteristic unique perks like limited-time provides, eating packages or entry to concert events, Broadway exhibits and different experiences.
- Earlier than making use of for a rewards bank card, check out your spending habits so you may select a card with a rewards program that matches the spending you already do.
Choosing the proper bank card in your way of life and objectives means contemplating the cardboard’s full image. What are its charges and charges? Does it provide extra perks you should use? Can I take advantage of it on daily basis? Are you able to qualify for it with the credit score rating you’ve got? And, when you’re contemplating a rewards bank card, what does its rewards program provide and might it improve your life?
Every bank card rewards program works in another way past the fundamental “earn rewards, redeem rewards” steps. Differing redemption choices and program guidelines will make one program a greater match for you whereas one other program may work higher for another person.
Greatest rewards packages
To construct our checklist of high bank card rewards packages, Bankrate thought-about the benefit of incomes and redeeming rewards and the potential worth of these rewards, in addition to how a program suits into a specific way of life.
Let’s take a better take a look at among the high rewards packages and among the greatest playing cards to contemplate from every program in 2024.
Capital One miles: Greatest for inexperienced persons
Bankrate’s view
The Capital One miles program provides severe incomes potential for frequent vacationers, however it’s the simple redemption choices that make this our high decide for these simply beginning to discover how journey rewards playing cards work.
Rewards program particulars
- Rewards program fundamentals: Earn Capital One miles with considered one of a number of bank cards, starting from no-annual-fee choices to a premium card with luxurious perks for the frequent traveler. If you happen to maintain a number of Capital One miles–incomes playing cards, you may pool rewards in a single bucket to stretch your rewards even additional.
- The best way to redeem miles: The best technique to redeem your miles is for assertion credit score to cowl journey purchases made in your card. Or switch rewards to a wide range of airline and lodge loyalty packages or redeem them for money again, merchandise, present playing cards and extra.
- Redemption choices and worth of rewards: The worth you get out of your miles will depend on the way you redeem them.
| Redemption class | Worth |
|---|---|
| Assertion credit score for journey purchases | 1 cent every |
| Buy journey by way of the Capital One journey portal | 1 cent every |
| Money again | 0.5 cents every |
| Reward playing cards | 0.8 cents to 1 cent every |
| Capital One Leisure | Varies, however 0.8 cents every is frequent |
| Pay with factors through Amazon or Paypal | 0.8 cents every |
| Switch to high-value journey associate | every, in line with Bankrate’s newest valuation. |
Bank cards to contemplate
- Capital One VentureOne Rewards Credit score Card comes with no annual charge, and cardholders earn 1.25 miles on on a regular basis purchases and 5 miles per greenback on inns and rental automobiles bought by way of the Capital One journey portal.
- Capital One Enterprise Rewards Credit score Card comes with a $95 annual charge and consists of as much as $100 assertion credit score to cowl your International Entry or TSA PreCheck utility charge. Earn 2 miles per greenback spent on on a regular basis purchases and 5 miles per greenback on inns and rental automobiles bought by way of the Capital One journey portal.
- Capital One Enterprise X Rewards Credit score Card costs a $395 annual charge, however provides as much as $300 in annual journey portal credit score and a ten,000-mile bonus every year after your account anniversary. It additionally options the International Entry/TSA Precheck credit score and comes with a Precedence Move Choose membership for entry to airport lounges worldwide. Earn 2 miles per greenback on on a regular basis purchases, 10 miles per greenback on inns and rental automobiles bought by way of the Capital One journey portal and 5 miles per greenback on flights bought by way of the portal.
Chase Final Rewards: Greatest for combining a number of rewards playing cards
Bankrate’s view
The Chase Final Rewards program provides an extended checklist of how to earn and redeem rewards, and a few redemption choices even include a better worth base fee.
Rewards program particulars
- Rewards program fundamentals: Chase Final Rewards are simple to earn by way of common spending on numerous totally different bank cards, together with a number of choices with no annual charge. Mix your rewards throughout a number of playing cards and with as much as one individual sharing your family to see your rewards financial institution develop extra rapidly.
- The best way to redeem factors: Redeem Chase factors by way of the Chase Journey℠ portal for journey, present playing cards, merchandise, money again and extra. If you happen to maintain a premium card, you too can switch rewards to journey loyalty companions.
- Redemption choices and worth of rewards: The worth of your factors will depend on the way you redeem them.
| Redemption class | Worth |
|---|---|
| Journey by way of the Final Rewards journey portal |
|
| Money again | 1 cent every |
| Reward playing cards | Often 1 cent every, however promotions can up the worth |
| Pay with factors through Amazon.com or Paypal | 0.8 cents every |
| Pay with factors a the Apple Retailer | Varies |
| Chase Pay Your self Again | Varies, however 1 cent every to 1.25 cents every is frequent |
| Switch to high-value journey associate | every, in line with Bankrate’s valuation. Observe that you simply want a Sapphire card or the Ink Enterprise Most popular® Credit score Card to switch factors to companions. |
Bank cards to contemplate
- Chase Sapphire Most popular® Card, which comes with a $95 annual charge, features a sturdy rewards construction nice for each journey and on a regular basis spending. Benefit from an annual $50 lodge credit score for inns booked by way of the Chase portal.
- Chase Sapphire Reserve® costs a $550 annual charge, however you may earn as much as $300 in credit score yearly for journey purchases in addition to credit in your International Entry/TSA Precheck utility charge. Cardholders additionally take pleasure in airport lounge entry.
- Chase Freedom Limitless® is a no-annual-fee card that’s marketed as a money again card however earns Final Rewards factors. Mix your factors with these earned with a Sapphire card to make your factors price extra. With this card, you earn not less than 1.5 factors on each buy, with considerably extra incomes potential in particular spending classes.
- Chase Freedom FlexSM is one other “money again” card that earns Final Rewards factors. Cardholders earn 5 p.c again (that’s 5 Final Rewards factors per greenback) on as much as $1,500 spent in classes that rotate quarterly, with activation required. That prime incomes fee makes it a wonderful addition to an Final Rewards–incomes technique.
American Specific Membership Rewards: Greatest for all kinds of redemption choices
Bankrate’s view
The American Specific Membership Rewards program has a powerful number of redemption choices. Choices embrace reserving journey by way of the Amex portal, assertion credit, present playing cards, choose merchandise or transferring Amex factors to lodge and airline companions.
Rewards program particulars
- Rewards program fundamentals: American Specific options numerous high-value switch associate choices that make Membership Rewards factors fashionable with journey rewards bank card aficionados. American Specific can also be clear across the worth of factors for numerous redemption choices, which simplifies the way you spend your factors.
- The best way to redeem factors: Membership Rewards factors open the door to a variety of redemption choices, together with journey, transfers to companions, present playing cards, paying with factors and extra.
- Redemption choices and worth of rewards: Your factors worth will depend on the way you redeem your factors, however journey redemptions and transfers to journey companions usually web essentially the most worth.
| Redemption class | Worth |
|---|---|
| Journey by way of the Membership Rewards journey portal |
|
| Assertion credit score | 0.5 to 0.6 cents every relying on the cardboard |
| Reward playing cards | Varies, however as much as 1 cent every |
| Pay with factors through Amazon.com, Paypal and a number of other different retailers | 0.7 cents every |
| Pay for a New York Metropolis taxi | 1 cent every |
| Store with American Specific associate retailers | 0.5 cents every |
| Switch to high-value journey associate | every, in line with Bankrate’s valuation. |
Bank cards to contemplate
- American Specific® Gold Card is a high bank card for groceries due to its 4X factors per greenback spent at U.S. supermarkets (as much as $25,000 spent yearly, then 1X level). It additionally options spectacular incomes potential at eating places and on flights. All these rewards make it doable to offset the $250 annual charge.
- The Platinum Card® from American Specific consists of a powerful welcome provide of 80,000 factors after spending $8,000 inside the first six months of card membership. Past that, this luxurious card provides airport lounge entry and a slew of potential credit that may assist offset its excessive $695 annual charge.
- Amex EveryDay® Credit score Card* is a no-annual-fee choice for incomes Membership Rewards factors. The rewards potential isn’t spectacular, however it is a good card to maintain round to accommodate your Membership Rewards factors with out paying an annual charge.
Citi ThankYou Rewards: Greatest for base fee incomes
Bankrate’s view
The Citi ThankYou Rewards program is a standout as a result of you may improve your incomes potential considerably through the use of multiple Citi bank card after which pooling your Citi ThankYou factors collectively. A number of of the playing cards provide stellar intro 0 p.c APR choices in addition to high base-rate earnings.
Rewards program particulars
- Rewards program fundamentals: Citi ThankYou factors can accumulate rapidly due to excessive earnings on on a regular basis purchases throughout a number of card choices. With a premium Citi card, you may switch factors to journey companions for high worth.
- The best way to redeem: You’ll be able to usually redeem Citi ThankYou factors for money again, journey by way of the Citi portal, present playing cards, merchandise or charitable donations.
- Redemption choices and worth of rewards: As soon as once more, the worth of your rewards will depend on the way you redeem them in addition to which Citi playing cards you’ve got.
| Redemption class | Worth |
|---|---|
| Journey by way of the Citi ThankYou portal | 1 cent every |
| Money again | 1 cent every |
| Reward playing cards | Often 1 cent every, however promotions can up the worth |
| Store with factors at numerous on-line and in-store retailers | 0.8 cents every |
| Pay with factors to cowl current purchases in qualifying classes | 0.8 cents every |
| Switch to high-value journey associate | every, in line with Bankrate’s valuation. Observe that you simply want a Citi Premier® Card* (Not accessible) or Citi Status® Card*(not accessible for brand spanking new candidates) to switch factors to companions. |
Bank cards to contemplate
- Citi Premier® Card (Not accessible) opens the door to transferring factors to Citi journey loyalty companions for a $95 annual charge. The cardboard additionally provides wonderful incomes in on a regular basis classes: 3 factors per greenback at fuel stations, inns, supermarkets and eating places in addition to on air journey, and 1 level per greenback on all different purchases.
- Citi Rewards+® Card is a no-annual-fee card for on a regular basis spending that earns you 2X factors at supermarkets and fuel stations (on as much as $6,000 in purchases per yr, then 1X factors) and 1X factors on all different purchases. Plus, this card rounds your incomes as much as the closest 10 factors for each buy. Which means your $4.15 cup of espresso will earn you 10 factors as a substitute of 4.
- Citi Double Money® Card is one other no-annual-fee card that earns money again to the tune of two p.c again on each buy — 1 p.c once you purchase, and one other 1 p.c once you pay in your purchases. So long as you additionally carry a Citi premium card, you may convert your rewards earned into full-fledged ThankYou factors, reasonably than the “fundamental” factors you earn with this card by itself.
Financial institution of America® Journey Rewards bank card: Greatest for loyalty bonus
Bankrate’s view
The Financial institution of America journey rewards program provides a simplistic method to bank card rewards. However for folks with a longtime Financial institution of America relationship and balances that qualify for the Most popular Rewards program, earnings could be spectacular.
Rewards program particulars
- Rewards program fundamentals: This system provides entry to the Financial institution of America Journey Heart. Some playing cards additionally characteristic Visa Signature advantages, which can embrace such perks as prolonged guarantee safety, baggage delay reimbursement, journey cancellation and interruption insurance coverage and concierge providers, amongst others.
- The best way to redeem: Earn rewards factors for each greenback spent with eligible playing cards on this program. Many playing cards on this program provide a better, flat rewards fee on all purchases, however some additionally provide increased rewards charges on eating and travel-related purchases. Plus, when you’re a member of the Financial institution of America Most popular Rewards program, you may earn 25 p.c to 75 p.c extra rewards in every spending class, relying in your membership tier.
- Redemption choices and worth of rewards: Your factors worth will depend on the way you redeem your factors, however journey redemptions and transfers to journey companions usually web essentially the most worth.
| Redemption class | Worth |
|---|---|
| Assertion credit score to cowl eligible journey or eating purchases | 1 cent every |
| Deposit into eligible BofA or Merrill Lynch account | 0.6 cents every |
| Test | 0.6 cents every |
| Reward playing cards | Varies, however lower than 1 cent every |
Bank cards to contemplate
- Financial institution of America Journey Rewards bank card — which comes with no annual charge — awards cardholders 1.5X factors per greenback spent on all purchases. It’s a easy, cheap card to hold.
- Financial institution of America® Premium Rewards® bank card costs a $95 annual charge and provides 2X factors on journey and eating purchases and 1X factors on different purchases. It additionally provides a $100 incidental airline credit score and as much as $100 in credit towards your International Entry/TSA PreCheck utility charge, making the annual charge simple to offset.
Details about the Financial institution of America® Journey Rewards bank card and Financial institution of America® Premium Rewards® bank card was final up to date on Could 24, 2024.
Amazon Rewards factors: Greatest for frequent Amazon customers
Bankrate’s view
If you happen to’re on a first-name foundation along with your Amazon supply driver, the rewards program accessible by way of Amazon’s bank cards are exhausting to beat. There aren’t any caps on what you may earn, and redemption choices prolong past Amazon credit score.
Rewards program particulars
- Rewards program fundamentals: Earn high rewards in your Amazon purchases and on purchases with Amazon companions. These rewards keep their worth whether or not you redeem immediately for purchases with Amazon or for money again.
- The best way to redeem: Redeem factors for money again, journey or to pay for qualifying purchases on Amazon.
- Redemption choices and worth of rewards: Your factors worth is a constant 1 cent, making this a easy program to know.
| Redemption class | Worth |
|---|---|
| Money again | 1 cent every |
| Pay with factors for qualifying Amazon purchases | 1 cent every |
| Chase.com for journey, present playing cards and extra | 1 cent every |
Bank cards to contemplate
- Prime Visa provides a no-annual-fee technique to earn 5 p.c again on Amazon, Complete Meals and Chase Journey purchases in addition to 2 p.c again at fuel stations and eating places and on native transit. It’s essential to have an Amazon Prime membership to maximise this card’s worth.
How to decide on a bank card rewards program
With so many bank card rewards packages accessible, choosing the proper one in your personal monetary wants could really feel overwhelming. Step one to choosing the proper rewards program is to know the way you spend your cash every month. Then, slim down the rewards packages that greatest match your spending habits so that you’re rewarded for the kind of spending you’re already planning, and discover a rewards bank card that matches these wants.
When you discover a bank card rewards program that aligns along with your spending habits, affirm this system provides:
- The kind of rewards you’re keen on incomes
- Program companions you’re keen on, corresponding to airline and lodge companions
- Excessive-value redemption choices or versatile redemption choices
- Extra perks that suit your way of life, like entry to eating rewards packages or unique experiences
The best way to maximize worth by way of your bank card rewards program
To maximise the worth of your bank card rewards, begin with our 4 suggestions:
- Get a bank card that rewards your present spending habits. If you happen to spend so much on fuel, groceries or enterprise bills, get a card that rewards you for a lot of these purchases.
- Activate program provides and rotating classes (if relevant). Some provides or classes must be activated earlier than you may earn rewards. This usually applies to money again playing cards that provide rotating classes that change every quarter.
- Benefit from any welcome provides. You’ll be able to earn extra rewards as a brand new cardholder by incomes a welcome bonus, which often entails assembly a selected spending threshold inside a selected time interval — usually three to 6 months.
- Redeem rewards with switch companions, when doable. You’ll typically get essentially the most worth in your factors or miles once you switch them to eligible airline companions.
The underside line
Bank cards generally is a implausible software for incomes rewards on purchases you’re more likely to make anyway. The secret is to make use of a bank card responsibly, which incorporates solely borrowing what you may comfortably afford to pay again and paying the stability in full every month to keep away from curiosity costs. With accountable conduct and a terrific bank card rewards program, you will get quite a lot of worth out of your bank card.
*Details about the Chase Freedom FlexSM, Citi Status® Card, Citi Premier® Card and Amex EveryDay® Credit score Card has been collected independently by Bankrate. The cardboard particulars has not been reviewed or authorised by the issuer.
