This site is a free online resource that strives to offer helpful content and comparison features to our visitors. We accept advertising compensation from companies that appear on the site, which impacts the location and order in which brands (and/or their products) are presented, and also impacts the score that is assigned to it. Company listings on this page DO NOT imply endorsement. We do not feature all providers on the market. Except as expressly set forth in our Terms of Use, all representations and warranties regarding the information presented on this page are disclaimed. The information, including pricing, which appears on this site is subject to change at any time.
Best Rewards Credit Cards of February 2023
What kind of perks are you looking for?
With a rewards credit card, you can get value from your daily spending in the form of cash back, points, and miles. Compare our best rewards cards and apply today.
Pros
- 0% introductory APR for purchases and balance transfers
- No foreign transaction fees
Cons
- Doesn't offer bonus cash back for any spending categories
- Few perks other than cash back
- Get $200 when you spend $500 within the first 3 months
- Earn unlimited 1.5% cash back on every purchase you make
- No annual fee and no foreign transaction fees
- 0% introductory APR for 15 months on purchases and balance transfers, and 17.99%-27.99% variable APR after that
- Earn 5% cash back when you book hotels and rental cars through Capital One Travel
- No need to worry about rotating spending categories, and your cash back rewards never expire as long as you keep the card
Pros
- Earn unlimited 2% cash back on every purchase
- Cash back doesn't expire and there's no minimum to redeem rewards
Cons
- High $150 annual fee
- Must pay off your balance in full each month
- Earn $500 when you spend $5,000 in the first 3 months and another $500 when you spend $50,000 in the first 6 months
- Earn 2% cash back on every purchase and 5% on hotels and rental cars when you book through Capital One Travel
- Get a $200 cash bonus each year when you spend $200,000 or more
- Free employee cards, which also earn 2% cash back on every purchase
Pros
- 4X points on dining with no annual fee
- Generous intro APR for both purchases and balance transfers
Cons
- No bonus points for entertainment purchases other than streaming
- Only earns 2X points on groceries
- Earn 20,000 bonus points (worth $200) when you spend $1,000 in the first 3 months
- Earn 4X points on dining and 2X points on streaming, groceries, gas, and EV charging
- Get a $15 annual statement credit for streaming services
- No annual fee
- 0% introductory APR for 15 billing cycles on purchase and balance transfers, then 19.24% - 28.24% variable APR
- Split purchases of $100+ into fixed monthly payments with U.S. ExtendPay™ Plan
Pros
- No annual fee
- Unlimited 1.5% cash back
Cons
- APRs can be high
- Can't use card at ATMs
- Unlimited cash back on payments: 3% on Home, Auto, and Health categories and 1% on everything else after you make payments on your purchases
- Earn a $200 bonus on your Upgrade Card after opening a Rewards Checking account and making 3 debit card transactions*
- No annual fee, activation fees or foreign transaction fees
- Mobile app to access your account anytime, anywhere
- Enjoy peace of mind with $0 Fraud liability
Pros
- High cash back rates for cards that only require fair credit
- Low annual fee for a card with minimal credit requirements
Cons
- All cardholders pay the same high APR regardless of credit score
- Annual fee limits the card's value for low spenders
- Earn unlimited 1.5% cash back on every purchase, with no spending categories to worry about
- Earn unlimited 5% cash back when you book hotels and rental cars through Capital One Travel
- An increased credit line is available to qualified cardholders after 6 months
- $0 Fraud Liability for unauthorized purchases on your card
- Available to individuals with fair credit to help them build their credit score
Pros
- Multiple reward options
- No annual fee
Cons
- Doesn't offer intro APR
- Requires good/excellent credit
- Earn up to $100 when you fund both an Invest account and Checking and Savings account after getting approved for the SoFi Credit Card
- Earn 3% cash back for a year when you set up direct deposit. Then, earn 2% unlimited cash back on purchases when your redeem them toward investing, saving, or paying down an eligible loan with SoFi.
- Make 12 montly payments on-time and lower your APR by 1%
- No annual fee
- No foreign transaction fees
Our product scores consist of a combination of the following 2 components:
Click Trend
Products & Features
BestMoney measures user engagement based on the number of clicks each listed brand received in the past 7 days. The number of clicks to each brand will be measured against other brands listed in the same query. Therefore, the higher the share of clicks a brand receives in any specific query, the higher the Click Trend Score. BestMoney accepts advertising compensation from companies, which impacts their (and/or their products’) position, and in some cases, may also affect their Click Trend Score.
What Are Credit Card Reward Programs?
A credit card reward program offers consumers more than just a line of credit. They offer the chance to earn cash, points, or miles for every dollar you spend. Each rewards program has its own set of rules and redemption process, but a rewards credit card can be advantageous over just using a debit or non-rewards credit card.
Types of Reward Programs
Depending on the type of card you have, you can earn rewards at a flat rate for every purchase or you can earn a bonus amount of rewards on select spending categories. Most cards allow you to convert your rewards into another type of reward. For example, you might be able to convert your travel rewards into redeemable cash.
There are three types of credit card reward programs: cash back, points earned, or travel rewards. Here’s a better look at each type.
- Cash Rewards: Several cash back credit cards allow users to earn about 1% cashback for all purchases made. This is a nice bonus for spending you were planning to do anyway. Some cards have bonus cash back offers for certain spending categories or stores. Cashback credit cards are the easiest to understand because you know upfront what you are earning and can convert your cash back reward into a bank credit or payment statement.
- Points Rewards: Other cards assign point values to spending categories and allow users to redeem points towards cash, gift cards, or travel opportunities. Typically points credit cards earn one point for every $1 spent, but they are worth one cent each.
- Travel Rewards: Travel reward credit cards will help your reward redemption go the farthest in means of traveling. Travel reward cards can be redeemed for free hotel stays or flights and many times come with other travel perks such as added travel insurance. Travel reward credit cards generally earn more perks the more users spend on travel.
Things to look out for
Credit reward programs sound like a dream come true. You are going to spend the money anyways on daily living expenses, so why not get rewarded for it? True, reward credit cards come with their perks, but they also come with a few precautions. Here are a few things to know before signing up for your next reward credit card.
- APR: Some reward credit cards have a high APR which can be costly if you plan to carry a balance. Many times paying interest on purchases will negate any rewards earned. If you cannot pay off your credit card balance each month, consider a lower APR card instead.
- Annual Fee: Some reward credit cards are free to use after a user has been approved and others have an annual fee. Many cards set their annual fee at $95-99, but some cards charge more. Cards with an annual fee shouldn’t be dismissed altogether, though. Some cards with a fee will earn you more rewards than a free rewards credit card.
- Reward partners and redemption: It is good to know how you can redeem your points before signing up for a card. If your card is attached to a specific line of hotels and points can’t be transferred elsewhere, you are limited on your reward choices. Sometimes a card will offer one-to-one point transfer ratios to partner companies to make your rewards go farther.
How to Pick the Right Rewards Card
Look at Your Spending
The best rewards credit card for you is the one that will give you the maximum amount of reward for your spending lifestyle. Take a look at what you typically spend your money on each month. Do you spend more on gas and dining out? Look for a rewards card that gives you extra cash back or points back in those areas. Do you travel a lot for business? A travel rewards card might be better suited for your spending.
Look at How You Want to Redeem Your Rewards
Along with maximizing your reward card spending, pick a card with an easy-to-use reward redemption program. If you are busy and don’t want to hassle with point conversions, then a flat-rate cash back card might be better suited for your needs. However, if you like to spend time researching the best ways possible to maximize credit card points for free travel, then a travel credit card connected to several travel partners might be your best choice.
Look for Cards With the Best Sign-on Promotions
If you have excellent credit, you can take advantage of sign-on bonuses with reward credit cards. Many cards will offer a sign-on bonus for new users with either a 0% APR promotional time period or extra bonus rewards for hitting a spending limit in the first few months. Some cards offer both. Utilizing these sign-on promotions can boost your credit card rewards quickly in the first few months.
Disclosures
Upgrade Triple Cash Rewards Visa® and Upgrade Cash Rewards Visa®:
* To qualify for the welcome bonus, you must open and fund a new Rewards Checking account and make 3 qualifying debit card transactions from your Rewards Checking account within 60 days of the date the Upgrade Card account is opened. To qualify, debit card transactions must have settled and exclude ATM transactions. Please refer to the applicable Upgrade VISA® Debit Card Agreement and Disclosures for more information. Your Upgrade Card and Rewards Checking account must be open and in good standing to receive a bonus. If you have previously opened a Rewards Checking account or do not open one as part of this application process, you are not eligible for this welcome bonus offer. Welcome bonus offers cannot be combined, substituted, or applied retroactively. The bonus will be applied to your Rewards Checking account as a one-time payout credit within 60 days after the 3rd qualifying card purchase.
