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Best Rewards Credit Cards of June 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.
5% cash back on hotels and rental cars booked through Capital One Travel
1.5% cash back on every purchase you make
Welcome Bonus: $200 when you spend $500 within the first 3 months
Intro APR: 0% intro APR for 15 months on purchases and balance transfers
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 19.74% - 29.74% 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
3% cash back at U.S. supermarkets up to $6,000 per year in purchases, then 1%
3% cash back on U.S. online retail purchases, up to $6,000 per year, then 1%
1% cash back on other purchases
Welcome Bonus: $200 statement credit after you spend $2,000 in the first 6 months
Intro APR: 0% intro APR for 15 months on purchases and balance transfers
See Rates & Fees
Pros
- High cash back rate
- No annual fee
Cons
- Requires good to excellent credit
- Spending caps on rewards
- Earn a $200 statement credit after you spend $2,000 in the first 6 months
- 0% introductory APR on purchases and balance transfers for 15 months. After that, there is a variable APR of 18.99% to 29.99%
- Earn 3% cash back on the first $6,000 in annual spending across three categories: U.S. supermarkets, U.S. gas stations, and U.S. online retail purchases, then 1%
- No annual fee
- Up to $84 in annual credits for the Disney Bundle and up to $180 in annual credits for Home Chef (up to $15 in statement credits monthly). Enrollment required
- Terms Apply
4X membership Rewards® points on restaurants
4X Membership Rewards® points at U.S. supermarkets (up to your first $25,000 in annual spending)
3X Membership Rewards® points on flights booked directly with airlines or on amextravel.com
Welcome Bonus: 60,000 Membership Rewards Points when you spend $4,000 in the first 6 months
Intro APR: N/A
See Rates & Fees
Pros
- No foreign transaction fees
- Membership Rewards Points can be transferred to many airlines
Cons
- $250 annual fee
- Does not offer bonus points for all travel expenses
- Earn 60,000 Membership Rewards Points when you spend $4,000 in the first 6 months
- Earn 4X Membership Rewards Points on restaurants and U.S. supermarkets (up to your first $25,000 in annual spending)
- Earn 3X Membership Rewards Points on flights booked directly with airlines or on amextravel.com
- Earn up to $120 in statement credits for Uber and Uber Eats and up to $120 Dining Credit which can cover up to $10 in statements credit monthly at Grubhub
- Choose your card color, gold, or rose gold
- Terms Apply
5% cash back on hotels and rental cars booked through Capital One Travel
1.5% cash back on every purchase, every day
Welcome Bonus: N/A
Intro APR: N/A
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
6% cash back at U.S. supermarkets up to $6,000 per year in purchases, then 1%
6% cash back on select U.S. streaming subscriptions
3% cash back on U.S. gas stations and transit including taxis/rideshare, parking, tolls, trains, buses and more
1% cash back on other purchases
Welcome Bonus: $250 when you spend $3,000 in the first 6 months
Intro APR: 0% intro APR for 12 months on purchases and balance transfers
See Rates & Fees
Pros
- $0 introductory annual fee for the first year
- 6% cash back at U.S. supermarkets up to $6,000 per year
Cons
- Requires good to excellent credit
- High annual fee after the first year
- Earn $250 when you spend $3,000 in the first 6 months
- Earn 6% cash back on your first $6,000 at U.S. supermarkets, unlimited 3% cash back on U.S. gas stations and transit, and 1% on all other purchases
- Earn 6% cash back on U.S. streaming subscriptions and also earn up to $84 in annual credits (split up into monthly statement credits) for the Disney Bundle
- 0% introductory APR on purchases and balance transfers for 12 months. After that, there is a variable APR of 18.99% - 29.99%
- Terms Apply
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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.
