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Key takeaways
- One of the best bank card rewards packages supply 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 affords, eating packages or entry to live shows, Broadway exhibits and different experiences.
- Earlier than making use of for a rewards bank card, check out your spending habits so you possibly can select a card with a rewards program that matches the spending you already do.
Choosing the proper bank card on your life-style and targets means contemplating the cardboard’s full image. What are its charges and charges? Does it supply further perks you should use? Are you able to qualify for it with the credit score rating you’ve? And, for those who’re contemplating a rewards bank card, what does its rewards program supply and might it improve your life?
Every bank card rewards program works otherwise 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 might work higher for another person.
To construct our checklist of high bank card rewards packages, Bankrate thought-about the convenience of incomes and redeeming rewards and the potential worth of these rewards, in addition to how a program suits into a specific life-style.
Let’s take a more in-depth have a look at a number of the high rewards packages and a number of the greatest playing cards to contemplate from every program in 2024.
Capital One miles: Finest for novices
Bankrate’s view
The Capital One miles program affords severe incomes potential for frequent vacationers, however it’s the easy redemption choices that make this our high choose for these simply beginning to discover how journey rewards playing cards work.
Rewards program particulars
- Rewards program fundamentals: Earn Capital One miles with one in every 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 possibly can pool rewards in a single bucket to stretch your rewards even additional.
- The best way to redeem miles: The only technique to redeem your miles is for assertion credit score to cowl journey purchases made in your card. Or switch rewards to quite a lot of airline and resort 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 is determined by the way you redeem them.
| Redemption class | Worth |
|---|---|
| Assertion credit score for journey purchases | 1 cent every |
| Buy journey by 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 widespread |
| Pay with factors by way of Amazon or Paypal | 0.8 cents every |
| Switch to high-value journey associate | 0.0 cents every, in keeping 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 motels and rental automobiles bought by 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 World Entry or TSA PreCheck utility charge. Earn 2 miles per greenback spent on on a regular basis purchases and 5 miles per greenback on motels and rental automobiles bought by the Capital One journey portal.
- Capital One Enterprise X Rewards Credit score Card prices a $395 annual charge, however affords as much as $300 in annual journey portal credit score and a ten,000-mile bonus annually after your account anniversary. It additionally options the World Entry/TSA Precheck credit score and comes with a Precedence Cross Choose membership for entry to airport lounges worldwide. Earn 2 miles per greenback on on a regular basis purchases, 10 miles per greenback on motels and rental automobiles bought by the Capital One journey portal and 5 miles per greenback on flights bought by the portal.
Chase Final Rewards: Finest for combining a number of rewards playing cards
Bankrate’s view
The Chase Final Rewards program affords 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 straightforward to earn by common spending on numerous completely 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 particular person sharing your family to see your rewards financial institution develop extra shortly.
- The best way to redeem factors: Redeem Chase factors by the Chase Final Rewards portal for journey, present playing cards, merchandise, money again and extra. If you happen to maintain a premium card, you can even switch rewards to journey loyalty companions.
- Redemption choices and worth of rewards: The worth of your factors is determined by the way you redeem them.
| Redemption class | Worth |
|---|---|
| Journey by the Final Rewards journey portal |
|
| Money again | 1 cent every |
| Reward playing cards | Normally 1 cent every, however promotions can up the worth |
| Pay with factors by way of 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 widespread |
| Switch to high-value journey associate | 0.0 cents every, in keeping with Bankrate’s valuation. Observe that you simply want a Sapphire card or the Ink Enterprise Most well-liked® Credit score Card to switch factors to companions. |
Credit score playing cards to contemplate
- Chase Sapphire Most well-liked® Card, which comes with a $95 annual charge, features a sturdy rewards construction nice for each journey and on a regular basis spending. Make the most of an annual $50 resort credit score for motels booked by the Chase portal.
- Chase Sapphire Reserve® prices a $550 annual charge, however you possibly can earn as much as $300 in credit score yearly for journey purchases in addition to credit on your World Entry/TSA Precheck utility charge. Cardholders additionally get pleasure from 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 at the least 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: Finest for all kinds of redemption choices
Bankrate’s view
The American Specific Membership Rewards program has a formidable number of redemption choices. Choices embrace reserving journey by the Amex portal, assertion credit, present playing cards, choose merchandise or transferring Amex factors to resort and airline companions.
Rewards program particulars
- Rewards program fundamentals: American Specific options numerous high-value switch associate choices that make Membership Rewards factors standard with journey rewards bank card aficionados. American Specific can 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 is determined by the way you redeem your factors, however journey redemptions and transfers to journey companions usually web probably the most worth.
| Redemption class | Worth |
|---|---|
| Journey by 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 by way of Amazon.com, Paypal and several 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 | 0.0 cents every, in keeping with Bankrate’s valuation. |
Bank cards to contemplate
- American Specific® Gold Card is a high bank card for groceries because of 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 potential to offset the $250 annual charge.
- The Platinum Card® from American Specific consists of a formidable welcome supply of 80,000 factors after spending $8,000 throughout the first six months of card membership. Past that, this luxurious card affords 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 deal with your Membership Rewards factors with out paying an annual charge.
Citi ThankYou Rewards: Finest for base fee incomes
Bankrate’s view
The Citi ThankYou Rewards program is a standout as a result of you possibly can enhance your incomes potential considerably by utilizing multiple Citi bank card after which pooling your Citi ThankYou factors collectively. A number of of the playing cards supply 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 shortly because of excessive earnings on on a regular basis purchases throughout a number of card choices. With a premium Citi card, you possibly can switch factors to journey companions for high worth.
- The best way to redeem: You possibly can usually redeem Citi ThankYou factors for money again, journey by 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 is determined by the way you redeem them in addition to which Citi playing cards you’ve.
| Redemption class | Worth |
|---|---|
| Journey by the Citi ThankYou portal | 1 cent every |
| Money again | 1 cent every |
| Reward playing cards | Normally 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 latest purchases in qualifying classes | 0.8 cents every |
| Switch to high-value journey associate | 0.0 cents every, in keeping with Bankrate’s valuation. Observe that you simply want a Citi Premier® Card or Citi Status® Card*(now not obtainable for brand spanking new candidates) to switch factors to companions. |
Bank cards to contemplate
- Citi Premier® Card opens the door to transferring factors to Citi journey loyalty companions for a $95 annual charge. The cardboard additionally affords wonderful incomes in on a regular basis classes: 3 factors per greenback at fuel stations, motels, 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 12 months, 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. Meaning 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 whenever you purchase, and one other 1 p.c whenever you pay on your purchases. So long as you additionally carry a Citi premium card, you possibly can convert your rewards earned into full-fledged ThankYou factors, relatively than the “fundamental” factors you earn with this card by itself.
Financial institution of America journey rewards: Finest for loyalty bonus
Bankrate’s view
The Financial institution of America journey rewards program affords a simplistic method to bank card rewards. However for individuals with a longtime Financial institution of America relationship and balances that qualify for the Most well-liked Rewards program, earnings will be spectacular.
Rewards program particulars
- Rewards program fundamentals: This system affords entry to the Financial institution of America Journey Middle. 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 companies, 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 supply a better, flat rewards fee on all purchases, however some additionally supply larger rewards charges on eating and travel-related purchases. Plus, for those who’re a member of the Financial institution of America Most well-liked Rewards program, you possibly can 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 is determined by the way you redeem your factors, however journey redemptions and transfers to journey companions usually web probably 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 |
| Verify | 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 prices a $95 annual charge and affords 2X factors on journey and eating purchases and 1X factors on different purchases. It additionally affords a $100 incidental airline credit score and as much as $100 in credit towards your World Entry/TSA PreCheck utility charge, making the annual charge straightforward 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 Jan. 18, 2024.
Amazon Rewards factors: Finest for frequent Amazon consumers
Bankrate’s view
If you happen to’re on a first-name foundation together with your Amazon supply driver, the rewards program obtainable by Amazon’s bank cards is tough to beat. There aren’t any caps on what you possibly can 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 straight 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 grasp.
| 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 affords a no-annual-fee technique to earn 5 p.c again on Amazon, Entire Meals and Chase Journey purchases in addition to 2 p.c again at fuel stations and eating places and on native transit. You need 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 obtainable, selecting the best one on your personal monetary wants might really feel overwhelming. Step one to selecting the best rewards program is to grasp the way you spend your cash every month. Then, slender 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 together with your spending habits, verify this system affords:
- The kind of rewards you’re considering incomes
- Program companions you’re considering, similar to airline and resort companions
- Excessive-value redemption choices or versatile redemption choices
- Further perks that suit your life-style, like entry to eating rewards packages or unique experiences
The best way to maximize worth by your bank card rewards program
To maximise the worth of your bank card rewards, begin with our 4 ideas:
- Get a bank card that rewards your present spending habits. If you happen to spend quite a bit on fuel, groceries or enterprise bills, get a card that rewards you for a lot of these purchases.
- Activate program affords and rotating classes (if relevant). Some affords or classes have to be activated earlier than you possibly can earn rewards. This usually applies to money again playing cards that provide rotating classes that change every quarter.
- Make the most of any welcome affords. You possibly can earn further rewards as a brand new cardholder by incomes a welcome bonus, which often includes assembly a selected spending threshold inside a selected time interval — usually three to 6 months.
- Redeem rewards with switch companions, when potential. You’ll typically get probably the most worth on your factors or miles whenever you switch them to eligible airline companions.
The underside line
Bank cards could be a incredible instrument for incomes rewards on purchases you’re more likely to make anyway. The secret’s to make use of a bank card responsibly, which incorporates solely borrowing what you possibly can comfortably afford to pay again and paying the stability in full every month to keep away from curiosity prices. With accountable conduct and a fantastic bank card rewards program, you will get a number of worth out of your bank card.
*Issuer-required disclosure assertion
Details about the Chase Freedom FlexSM, Chase Freedom Limitless®, Citi Status® Card and Amex EveryDay® Credit score Card has been collected independently by Bankrate and has not been reviewed or authorised by the issuer.
