Best Credit Cards With Rewards 2023: Top Picks for Earning and Redeeming Points
Credit cards with rewards have become increasingly popular among consumers, as they offer various perks and benefits that can enhance your financial experience. Whether you are a frequent traveler, a shopaholic, or simply someone looking to make the most out of your purchases, having a credit card that offers rewards can be a game-changer. In this article, we will discuss some of the best credit cards with rewards in 2023, along with five interesting facts about them.
1. Chase Sapphire Preferred® Card: This credit card is a top pick for travel enthusiasts. With its generous sign-up bonus, flexible redemption options, and access to exclusive travel benefits, it’s no wonder why the Chase Sapphire Preferred® Card is highly regarded. It allows you to earn 2X points on travel and dining, making it an excellent choice for those who frequently indulge in these activities.
2. American Express® Gold Card: If you love dining out and grocery shopping, the American Express® Gold Card is a perfect fit for you. With this card, you can earn 4X points on dining at restaurants worldwide and at U.S. supermarkets, making it a great option for foodies. Additionally, it offers various travel perks, such as airline fee credits and access to exclusive events.
3. Citi® Double Cash Card: For those who prefer simplicity, the Citi® Double Cash Card is a fantastic choice. With this card, you can earn 1% cash back on all purchases and an additional 1% cash back when you pay off those purchases, effectively giving you 2% cash back on everything. This straightforward rewards structure makes it easy to earn and redeem your rewards.
4. Capital One Venture Rewards Credit Card: The Capital One Venture Rewards Credit Card is an excellent option for frequent travelers. It offers a generous sign-up bonus and allows you to earn unlimited 2X miles on every purchase. Furthermore, it provides various travel benefits, such as TSA PreCheck or Global Entry fee credits and no foreign transaction fees.
5. Discover it® Cash Back: If you want a credit card that offers rotating bonus categories, the Discover it® Cash Back is worth considering. It offers 5% cash back on up to $1,500 in purchases in quarterly rotating categories, and 1% cash back on all other purchases. Additionally, Discover matches all the cash back you’ve earned at the end of your first year, making it an attractive option for those looking to maximize their rewards.
Now, let’s explore five interesting facts about credit cards with rewards:
1. Rewards Can Vary: Different credit cards offer different types of rewards, such as cash back, travel points, or merchandise. It’s essential to choose a credit card that aligns with your spending habits and preferences.
2. Annual Fees: Some credit cards with rewards may come with annual fees, while others may not. Consider your spending patterns and the potential benefits before deciding whether an annual fee is worth it for you.
3. Sign-up Bonuses: Many credit cards offer lucrative sign-up bonuses, which can provide a significant boost to your rewards. Be sure to check the requirements and spend thresholds to qualify for these bonuses.
4. Redemption Options: Credit cards with rewards often provide various redemption options, such as statement credits, travel bookings, or merchandise purchases. Understand the redemption process and choose a card that offers flexibility and convenience.
5. Points Expiration: Some credit cards’ reward points may expire after a certain period if they are not redeemed. Keep track of your points’ expiration dates and make sure to utilize them before they expire.
Now, let’s address some common questions about credit cards with rewards:
1. Are credit cards with rewards worth it?
Yes, credit cards with rewards can be worth it if you utilize them wisely and maximize the benefits. Consider your spending habits and the rewards offered by different cards to find the best fit for you.
2. Can I redeem my rewards for cash?
Many credit cards allow you to redeem your rewards for cash back. However, it’s important to check the terms and conditions of your specific credit card to understand the redemption options available.
3. Do credit cards with rewards have higher interest rates?
Credit cards with rewards do not necessarily have higher interest rates. The interest rate on a credit card is determined by various factors, such as your creditworthiness and the card issuer’s policies.
4. Can I transfer my rewards to another person?
Some credit cards allow you to transfer your rewards to another person, while others may not. Check the terms and conditions of your credit card to understand the transferability options.
5. How can I maximize my rewards?
To maximize your rewards, consider using your credit card for everyday expenses, paying off your balance in full each month, and taking advantage of bonus categories and sign-up bonuses.
6. Can I earn rewards on balance transfers?
Most credit cards do not offer rewards on balance transfers. However, some cards may provide promotional offers that allow you to earn rewards on balance transfers for a limited time.
7. Are there any restrictions on redeeming rewards?
Some credit cards may have restrictions on redeeming rewards, such as minimum redemption amounts or blackout dates for travel bookings. Read the terms and conditions of your credit card to understand any restrictions.
8. Can I earn rewards on cash advances?
Credit cards generally do not offer rewards on cash advances. Cash advances usually come with separate fees and higher interest rates, so it’s best to avoid using them unless absolutely necessary.
9. Can I earn rewards on purchases made outside the country?
Most credit cards with rewards allow you to earn rewards on purchases made outside the country. However, be aware of any foreign transaction fees that may apply.
10. Can I earn rewards on balance transfer fees?
Typically, credit cards do not offer rewards on balance transfer fees. However, some cards may provide promotional offers that waive or reduce the balance transfer fees.
11. Can I earn rewards on annual fees?
In most cases, credit cards do not offer rewards on annual fees. However, some premium cards may provide statement credits or other perks that offset the annual fee.
12. Can I earn rewards on interest charges?
Credit cards generally do not offer rewards on interest charges. It’s important to pay off your balance in full each month to avoid paying interest and maximize your rewards.
13. Can I earn rewards on gift card purchases?
Most credit cards allow you to earn rewards on gift card purchases. However, be aware of any restrictions or limitations on certain types of gift cards.
14. Can I earn rewards on bill payments?
Credit cards typically allow you to earn rewards on bill payments, depending on the merchant’s category. Utility bills, subscription services, and other eligible expenses can earn you rewards.
In conclusion, credit cards with rewards provide an excellent opportunity to earn and redeem points, enhancing your financial experience. Consider your spending habits, preferences, and the benefits offered by different credit cards to find the best fit for you. Remember to maximize your rewards by utilizing bonus categories, sign-up bonuses, and redemption options. Happy earning and redeeming!