Credit card rewards can be an excellent way to maximize the value of your spending. Whether you’re earning cashback, points, or miles, the right credit card can help you make the most of your purchases in 2024. But with so many options out there, how do you choose the best one? In this article, we’ll explore the top credit cards for earning rewards in 2024, focusing on cards that offer the most valuable and flexible rewards for a variety of needs.
Why You Should Use a Credit Card for Rewards
Using a credit card for everyday purchases can lead to significant rewards over time. Instead of spending money without any benefits, you can earn points, miles, or cash back that you can redeem for travel, statement credits, merchandise, or other rewards. The key is to find a credit card that aligns with your spending habits, whether you’re looking for travel rewards, cashback, or points for various categories.
Types of Rewards Credit Cards
Before diving into the best cards for 2024, it’s essential to understand the different types of rewards you can earn:
- Cashback Credit Cards: Earn cash back on purchases, typically in the form of a percentage of your spending.
- Travel Rewards Credit Cards: Earn miles or points that can be redeemed for flights, hotel stays, or other travel-related expenses.
- Points-Based Credit Cards: Earn points that can be redeemed for various rewards, including travel, merchandise, or gift cards.
Top Credit Cards for Earning Rewards in 2024
1. Chase Sapphire Preferred® Card
The Chase Sapphire Preferred® Card is consistently one of the best cards for travel rewards. It offers 2x points on travel and dining and 1x points on other purchases. Sign-up bonuses are also a major draw, and the points are extremely versatile, redeemable for travel through the Chase Ultimate Rewards program or transferred to airline and hotel partners for even greater value.
Why it’s great:
- Bonus Points: Earn 60,000 bonus points after spending $4,000 in the first 3 months.
- Travel Perks: 2x points on travel and dining, no foreign transaction fees, and a wide range of transfer partners.
- Point Redemption: Points can be worth 25% more when redeemed for travel through Chase Ultimate Rewards.
2. Blue Cash Preferred® Card from American Express
If you’re looking for a cashback card, the Blue Cash Preferred® Card from American Express offers some of the highest rewards in certain categories. It gives 6% cash back on purchases at U.S. supermarkets (up to $6,000 per year) and 3% on transportation, including taxis, rideshares, and public transit.
Why it’s great:
- Cashback Rewards: 6% cash back on U.S. supermarket purchases, 3% on transit, and 1% on other purchases.
- Sign-Up Bonus: Earn $350 after spending $3,000 in the first 6 months.
- Cashback Flexibility: Cashback is automatically credited to your account as statement credits.
3. Capital One Venture Rewards Credit Card
For travelers, the Capital One Venture Rewards Credit Card is an excellent choice. It offers 2x miles on every purchase, making it a great option for those who want to earn rewards without worrying about category limits. The miles earned can be redeemed for travel expenses, including flights, hotels, car rentals, and more.
Why it’s great:
- Flat Rate Rewards: Earn 2x miles on every purchase, with no category restrictions.
- Sign-Up Bonus: Earn 75,000 miles after spending $4,000 in the first 3 months.
- Flexible Travel Rewards: Miles can be used to erase travel purchases, or transferred to airline partners for even more value.
4. Discover it® Cash Back
For cashback lovers, the Discover it® Cash Back card offers rotating 5% cashback on categories that change each quarter (up to $1,500 in purchases). Plus, Discover matches all the cashback you earn in your first year, effectively doubling your rewards.
Why it’s great:
- Quarterly Rotating Categories: 5% cashback on categories like grocery stores, gas stations, restaurants, and Amazon.com.
- First-Year Cashback Match: Discover will match all the cashback you earn in your first year, doubling your rewards.
- No Annual Fee: This card has no annual fee, making it a great option for those who want to maximize rewards without any upfront cost.
5. American Express® Gold Card
The American Express® Gold Card is perfect for those who spend a lot on dining and groceries. It offers 4x points on dining at restaurants and takeout, as well as 3x points on flights booked directly with airlines or on amextravel.com. Plus, you’ll get 1x points on all other purchases.
Why it’s great:
- Dining & Travel Rewards: 4x points on dining and 3x points on flights, making it a great card for foodies and travelers.
- Sign-Up Bonus: Earn 60,000 Membership Rewards® points after spending $4,000 in the first 6 months.
- Dining Perks: Enjoy dining credits at participating restaurants and services.
6. Citi® Double Cash Card
For a straightforward cashback option, the Citi® Double Cash Card offers 2% cashback on every purchase—1% when you buy and another 1% when you pay. It’s a simple, no-fuss option for those who want to earn consistent rewards without thinking about categories or spending limits.
Why it’s great:
- Flat Rate Cashback: 2% cashback on all purchases—1% when you buy, 1% when you pay.
- No Annual Fee: Enjoy straightforward rewards without any annual fee.
- Cashback Flexibility: Rewards are easy to redeem, whether for a statement credit or check.
7. Wells Fargo Active Cash® Card
The Wells Fargo Active Cash® Card offers unlimited 2% cash back on all purchases, making it a top contender for those who want a simple cashback card with no categories or limits. Plus, it comes with a generous introductory offer and no annual fee.
Why it’s great:
- Flat Rate Cashback: 2% cashback on every purchase.
- Sign-Up Bonus: Earn $200 in cash rewards after spending $1,000 in the first 3 months.
- No Annual Fee: Enjoy earning rewards without any annual fee.
How to Choose the Best Credit Card for Rewards
When selecting a rewards credit card, consider the following factors:
- Spending Habits: Do you spend more on dining, groceries, travel, or general purchases? Choose a card that offers high rewards in the categories where you spend the most.
- Sign-Up Bonuses: Many credit cards offer generous sign-up bonuses. Be sure to factor these in when comparing cards.
- Annual Fees: While some rewards cards come with annual fees, others do not. Consider whether the rewards you’ll earn justify the fee.
- Redemption Flexibility: How easy is it to redeem your rewards? Choose a card that offers flexible redemption options, whether it’s for travel, cashback, or merchandise.
Conclusion
There are many credit cards available in 2024 that offer valuable rewards. Whether you’re looking for cashback, travel points, or flexible rewards, there’s a card for everyone. The key is to choose the one that aligns best with your spending habits and financial goals. By selecting the right credit card, you can maximize your rewards and make the most of your everyday purchases.
