Find the best rewards credit cards for you

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The best rewards credit cards usually have higher interest rates, so they are not for everyone, but depending on your needs it could be a good fit for you. Depending on the card you can earn cash back, miles, points on your purchases and redeem your rewards, again depending on the card, for cash, gift cards, merchandise, and travel once you earn enough rewards. Be sure to check the rewards program terms because with certain cards your rewards could expire. Also, keep in mind that certain cards may be deactivated due to inactivity, and if your intention is to keep the card this could translate into any accrued rewards lost. In short, it would be worth your while to consider which type of credit card fits your needs and see if you will benefit enough from a rewards credit card.

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Why choose a rewards credit card?

The main reason to choose this card is that you can earn credit card rewards on your purchases. Doing so will earn points, miles or cash back which you can then redeem for merchandise, statement credits, gift cards or travel depending on the card you choose. These cards, although usually coming with a higher interest rate then a non-rewards card, are great for earning rewards just be sure you make your payments on-time and it’s best not to carry a balance as we mentioned the interest rate tends to be higher on these types of cards. In the long run it is definitely worth considering one of these cards if you are an active buyer.

What is a rewards credit card?

A rewards credit card is a type of card that offers you points, miles, or cash back for making purchases using your card. Each type of card has specific terms that allocate rewards earned such as points to your account when you purchase items or services. These rewards earned can then be redeemed, based on the card you choose, for example for merchandise, travel, gift cards or a statement credit.

What kind of card can I get?

The card you can get is based on your needs, if you make purchases using a credit card you may want to consider a rewards card. If you want to earn rewards that you can use, for example, toward travel, merchandise, statement credits then this type of card may be a fit for you. Make sure that you read the terms of the offer and check for any fees the card may carry such as an annual fee and any restrictions that may be attached to the offer to ensure that it is worth it for you in the long run.

What are the pros & cons?

The upside of this card is that you can earn rewards on your purchases and can redeem them for a variety of items. It is also a way to build up your credit further, with responsible use, but usually requires good or excellent credit for the best cards and rewards programs. On the downside you might face an annual fee and higher interest rate compared with some non-rewards cards.

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Capital One® VentureOne® Rewards Credit Card

The Capital One® VentureOne® Rewards Credit Card has a great bonus offer of a one-time bonus of 20,000 miles once your spend $1,000 on purchases within 3 months of approval, which is equal to $200 in travel. Also, if you love to travel internationally the card has no foreign transaction fees, the miles don’t expire and there is no limit on how many you can earn.

Customer Reviews

The Capital One VentureOne card was one of the first cards I looked at when I was searching for a card that would reward air miles. The initial bonus of 20,000 miles if you spend 1000 within the first 3 months immediately drew my eye, as I was fairly certain I’d be able to easily hit that amount and get the free miles. The 0% APR for the first year and the absence of an annual fee cemented it for me, and I immediately applied and was approved. I was able to hit the threshold to earn my bonus miles within the first 3 months, and they were awarded quickly and with no fuss. I’m very happy with this card so far and use it all the time, racking up the miles. It’s great.

Richard

I have had this card for about a year. Was easy to apply for. I have had a few problems. When I needed a replacement card a little while back took over a week to receive. Also Capital one calls often trying to push more products. Their security seems go though. I had some fraudulent charges they took care of for me.

Chris

Highlights

New cardmembers of the Capital One® VentureOne® Rewards Credit Card can receive amazing travel benefits, including a one-time bonus of 20,000 miles after you spend $1,000 on purchases within 3 months of approval. These miles translate into $200 in travel that you can use toward hotel and plane ticket expenses. These bonus miles don’t expire as long as your credit card account stays active and in good standing.

International travelers don’t have to worry about paying a foreign transaction fee on their purchases, as there are no foreign transaction fees when you travel abroad. There’s no annual fee. The VentureOne Card can be used on travel discount websites, such as Kayak, and users get to choose which airline they want to fly on instead of being restricted to just one.

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Chase Freedom®

The Chase Freedom® is a great option if you love earning cash back and getting bonuses when you meet purchase requirements. For starters new Cardmembers can earn a $150 Bonus after spending $500 on purchases in your first 3 months from account opening. To make things even better you can earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter you activate. Enjoy new 5% categories every 3 months like gas stations, restaurants, and wholesale clubs. Unlimited 1% cash back on all other purchases.

Customer Reviews

I love this card, because it has great rewards program. The best part about the rewards is that I can use online at amazon. Also, first card I have that gave me more than a year of 0% APR. Another nice thing about the card is the website and the mobile version of it. Most cards when you pay the amount due after it’s processed it doesn’t show online that you have $0 due, but Chase freedom after making the payment shows that $0 is due. This is good , because sometimes I pay , but a week later I might forget and check to see if I have or not paid.

Lusine

Although I don’t use this card very much anymore due to trying to get out of credit card debt, I was impressed with the service I received. During a time of severe financial hardship, I got behind on all my cards. Once I was able to find a job again, I attempted to get caught up. This proved to be difficult, because each month, each of my cards would charge a late fee of around $35. Chase was no exception. However, unlike all the other companies, after I had made 2 or 3 on time payments, even though I was still behind by a few months, Chase declared my account current and stopped charging late fees provided I made the minimum payment on time! I usually don’t care for Chase, but in this case I was exceptionally pleased!

Ian

Highlights

The Chase Freedom® card offers new Cardmembers a 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 14.24-23.24%. Balance transfer fee is 5% of the amount transferred, $5 minimum. There is no annual fee.

In addition to the already mentioned the Chase Freedom® cash back rewards do not expire as long as your account is open and in good standing.

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Secured Credit Cards to Build Credit

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Best Travel Credit Cards

Getting ready to travel then you have to read our editors pick about the best credit cards for travel and what our credit experts think about them.

Best Credit Cards for Bad Credit

Found yourself with bad credit and need a way out? Then read our editors pick and recommendations for the best credit cards to get for bad credit.

How to Build Credit Without a Credit Card

Don’t have a credit card but still want to build your credit history? No problem! Our credit experts will give you options to get you started.

Related Credit Card Options

Prepaid Cards

The prepaid card is a great way to start your card using experience if this is your first time using a card instead of cash. You can use prepaid cards for online purchases or other locations that only accept credit.

Secured Credit Cards

Secured credit cards are your best option if you are rebuilding your credit or for building credit if this is your first time in the credit arena and you are looking to get started. The chances of being approved are relatively high, even with no credit or a limited credit history.

Business Credit Cards

If you run a small, medium, or even large enterprise you will most likely be in need of a business credit card. These cards have different terms and conditions then a card you would use for personal use, a consumer card, and can be useful for purchasing business related products and services. Based on the type of business card you select you can earn great rewards and other incentives.

Cash Back Credit Cards

Cash back credit cards are a great way to earn rewards on your every day purchases. Based on the card you select you can redeem your cash back rewards toward travel, merchandise, gift cards or a statement credit, for a few examples.

Low Interest Credit Cards

If you pay your balance on time, and you have a good or excellent credit score then you may be eligible for a low interest credit card. These credit cards may offer relief from higher rate cards, and could end up saving you money on finance charges especially if you tend to carry a balance.

0 APR Credit Cards

If you are carrying credit card debt and are looking to do a balance transfer or are looking to make expensive purchases then a 0% introductory APR card may be the right choice for you. The introductory rate usually lasts anywhere between 6 months to 21 months depending on the issuer and is a great way to save money on finance charges.

Help: Choosing the best rewards credit card

Rewards credit cards are becoming more popular among consumers. Credit card companies have designed rewards credit cards as a way to offer consumers an extra incentive to use their credit cards for purchases which will then earn you rewards such as points. Based on the card, after you get enough points saved up, you can redeem them, for example to use toward travel or gift cards or for statement credits. There are numerous types of rewards credit cards that you can choose from. For example, the general rewards credit card may have a program that lets you shop through an online catalogue and make purchases with your points on there. These online catalogues usually contain smaller items that you can purchase with points, such as gift cards, personal accessories, coupons, electronics, jewelry and other small products. The idea is that the more often you use your card for purchases, the more points you will save up and the more rewards you will have to redeem.

Now most types of rewards credit cards are great for people who regularly use credit cards to make purchases. But if you are someone just looking to obtain a spare credit card that you want to use for emergency purchases only, then you should choose a different kind of credit card because you won’t earn that many points. Not only that, but you could end up losing any rewards earned and unused if you have long periods of inactivity. Credit card companies want to see people frequently using their rewards credit card, so if you don’t then they may terminate your card and you will lose all of the points you accumulated. Therefore, only take out a rewards credit card if you are going to use it for purchases . Check out the terms of your credit card plan before applying just to make sure you choose the right one for you.

As for those who are still interested in using their rewards credit cards to make purchases consistently, there are three great rewards credit cards that you should consider for earning points. The first is the classic cash-back credit card, which allows you to earn cash back for every dollar you spend on purchases. Then you can convert those rewards into real cash. Most credit card companies will give customers one penny per point. So if you were to make $10,000 worth of purchases on your cash-back rewards card, then you would end up getting $100 back. As you can see, it could take a lot of spending to earn any real money through certain credit card programs.

Another great rewards credit card is the co-branded credit card. This is basically a credit card that is affiliated with another company, usually airlines or hotel companies. The idea is that you earn points for every dollar you spend, but you can only spend the points with these particular companies. They may call it a loyalty program where you can exchange your points for discounts on airfare or hotel rooms while you travel. The great thing about these loyalty programs is that your credit card points will have more value with these companies than they would with the cash back programs. Plus they may have extra perks attached to the credit card, such as free checked bags, priority boarding and elite status. So if you are a frequent traveler then a co-branded credit card might be something for you to consider. Of course, the downside is that you can only use the points towards the services of these companies. You also have to work around the availability of the awards and the change in their programs. For example, some loyalty programs may not let you use your points for just any flight. They may put restrictions on it that will limit your travel options if you do use the points.

Finally, there is the rewards credit card with a transferable points program. This is kind of like a hybrid of the cash-back credit card and co-branded credit card. You can earn points for each dollar you spend on purchases and then redeem those points with airline and hotel loyalty programs just like the co-branded credit card. On the other hand, if you would rather exchange your points for cash then you can do that as well. That way if you are not necessarily a frequent traveler all year round then you can turn your extra points into cash instead of letting them go to waste by not traveling. However, these credit cards tend to charge an annual fee to its users. If the number of points you earn doesn’t outweigh the amount of your annual fee then it could be a waste of money, it depends on what you are looking for in a card.

Therefore, what is the best rewards credit card to choose? The answer to this question will be different for each person. You have to weigh in your spending habits and your traveling habits. Frequent spenders and frequent flyers will benefit the most. Everyone else should consider a different type of card.

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