5 Top Rewards Credit Cards of 2017

More than ever before, credit card companies are throwing cash, points, and miles at consumers to entice them to sign up for new credit cards. We’re talking bonuses worth hundreds of dollars just for signing up for a new credit card. Many of these cards don’t even have an annual fee!

Here are a couple of things to note about finding the best rewards credit cards:

1. Most lists are outdated. Be careful which lists you’re looking at when it comes to rewards credit cards. Many, such as the lists from Consumer Reports, are outdated. Those cards have long been replaced with even better offers.

2. Many lists leave out the best cards. Of course, it’s not practical to list every one of the thousands of great credit card options out there. But here, we’re really trying to distill it down to the best offers at the time of this writing.

Here, we’ll list our editor’s picks of the top five best overall rewards credit cards. If you’re interested in cards within a certain category, check out our specific lists. Otherwise, this is just the top five best rewards cards today (and five bonus options):

1. Chase Sapphire Preferred

The Chase Sapphire Preferred is listed in the best-of lists on plenty of websites, and not without reason. Right now, it’s offering a great bonus: 50,000 bonus points for spending $4,000 in your first 3 months after account opening. You can add another 5,000 points by adding an authorized user and making a purchase in the first 3 months from account opening.

On an ongoing basis, the Chase Sapphire Preferred offers 2 point per $1 spent on travel and dining at restaurants, and 1 point per $1 spent on all other categories.

Other perks include 20% off travel when you redeem through Chase Ultimate Rewards, and a 1:1 point transfer program. This lets you transfer your Chase points into other travel rewards programs, which can let you leverage your rewards more easily.

The card also offers no foreign transaction fees, and it’s chip enabled for more security and worldwide acceptance.

The main drawback to this card is that it has a $95 annual fee. If you don’t spend enough money on the card to out-earn that $95, then this card may not be worth your while. But if you want to reap excellent rewards on everyday spending, then this could be the rewards card for you.

Another Option: Another option is the Chase Freedom, which offers unlimited 1% cash back, plus 5% cash back on up to $1,500 in purchases on rotating categories each quarter. It has no annual fee, and you may be able to get this card with slightly lower credit.

2. Barclaycard Arrival Plus™ World Elite MasterCard®

The Barclaycard Arrival Plus™ World Elite MasterCard® offers excellent travel benefits, including a huge bonus points offer. It gives you 2 miles per $1 spent on any purchase, without messing around with rotating categories. If you spend $3,000 within 90 days of card ownership, you’ll get 40,000 bonus miles – worth $400 in travel credits.

Barclaycard makes it easy to redeem travel rewards for what you want to use them for. Just book your travel online or in person through your card. Then, redeem your accrued miles for a statement credit.

As another bonus, this card offers a 0% introductory APR for 12 months on any balance transfer made within 45 days of opening your account.

Unfortunately, this card has an $89 annual fee, which is waived for the first year. So that’s slightly less than the Chase Sapphire Preferred, but still a hefty fee. Still, if you use it for most of your spending throughout the year, you’ll well out-earn that fee.

3. Discover it® Cashback Match™

The Discover of cards has a lot to offer – including options. You can get a cash back card, a student card, or a miles card. Here, we’ll focus on the cash back card, one of Discover’s most popular options at the moment.

The Discover it® Cashback Match™  offers 1% cash back on all purchases everyday, and there’s no limit to the rewards you can accrue. Then, it offers bonus cash back of 5% in rotating categories, up to $1500 quarterly when activated. For instance, right now, card holders can get 5% cash back at gas stations and on ground transport, and Discover’s Cashback Match™ program means that they will automatically match all the cash you earn back at the end of your first year (new cardmembers only).

Discover makes it easy to redeem your rewards, since you can cash in any amount at any given time. You can use the rewards for a statement credit, a deposit to your bank account, or use them to pay at Amazon.com.

This card has no annual fee, and it offers 0% APR for 12 months on purchases and balance transfers. This is a good card for average to high credit, with the average approved score at 675.

Another Option: The offers 1.5 miles per $1 spent on purchases, and double your miles after the first year of use. Miles are easy to cash in, and there are no black-out dates or added redemption fees.

4. Citi Double Cash® Card

The Citi Double Cash® card is an interesting option. It offers cash back two times – once when you buy and once when you pay. So you get unlimited 1% cash back on all of your purchases. Then, as you pay off purchases, you get an additional 1% cash back. As long as you pay your minimum due, you can earn that second 1% cash back.

With no categories or caps to worry about, this is an easy card to use. Just spend, and then pay off your purchases on time. If you’re a little late once time, you get a free pass, too.

This card has no annual fee, and it has a great introductory APR offer right now. You can get 0% APR for the first 15 months on balance transfers and purchases. The balance transfer fee is the greater of $5 or 3%.

5. American Express Blue Cash Preferred®

The Blue Cash Preferred card is an excellent way to earn cash back on your everyday expenses. In fact, unlike most cards weighted more towards dining, entertainment, and travel, this one is weighted towards gas and groceries.

With this card, you’ll get 6% cash back on up to $6,000 per year in supermarket purchases, 3% cash back at US gas stations and department stores, and 1% cash back on all other purchases. You can redeem your Reward Dollars as a statement credit. For new card members, spend $1,000 on purchases within three months of account opening, and get a $150 statement credit.

The $75 annual fee for this card isn’t fun to pay, but it’s definitely not the worst option among high-rewards cash back cards. It also offers a 12-month 0% introductory APR on purchases and balance transfers.

You can get more details on this card .

Topics: Credit Cards

4 Responses to “5 Top Rewards Credit Cards of 2017”

    • Gary C

      PenFed Pentagon Federal Credit Union has the best Reward card. Fuel 5%, Groceries 3%, and 1% everything else. It is easy to join if you’ve ever been in the military, or worked for the Federal government. I haven’t checked in a while, but it might also be open if you have worked for a state, county, or city government.

  1. Credit Card Education

    I completely agree with the assessment about the Starwood Card — it’s one of my favorite rewards cards too because you can really stay at a range of hotel levels and the sign-up bonus is pretty nice. My wife and I stayed at a level 1 hotel for two nights for a wedding and it cost us very few points. Going forward we’re hoarding points to help subsidize the cost of our dream vacation to Bora Bora as there is a sweet spot in the Starwood network, although sadly that will be about 10 years worth of points because we’re trying to have it pay for the whole trip (air/hotel).

  2. LilithG

    Per your excellent May 2015 updates, I wanted to suggest a Boglehead-approved card that has flown under the radar of many bloggers — namely, Barclaycard’s Sallie Mae MasterCard.

    With two kids headed to college — per your recent posts about college visits — it occurs to me that the SallieMae MasterCard might be especially handy for your family.

    I say this because the card not only offers 5% back on groceries and 3% back on gas (up to a monthly spend of $250 in each category), but also offers a student-friendly 5% back on all bookstores, including Amazon.com (**all purchases except for electronic downloads**) up to a monthly spend of $750. To round things out, the card offers an unlimited 1% back on all other purchases.

    Another student-friendly feature: the cashback that one earns in the categories above can not only be used to pay one’s balances via Barclaycard’s online interface, but can also be applied to principal or interest payments on one’s student loans or placed in one’s Sallie Mae UPromise account.

    I hasten to add that the card is not just for students and recent grads, as the love that the aforementioned Bogleheads — on whose online forum I first heard of the card — attests. As a 44 year-old college professor, I love the SMMC, which I pair with the American Express Blue Cash Preferred to ensure that virtually every dime I spend earns me money. Indeed, between groceries and my monthly Amazon.com purchases — which are considerable — I have found that the SMMC rivals the AEBCP for usefulness, not least because cashback points appear in one’s SMMC online dashboard within two days or so, versus within several **months** in the case of AEBCP.

    Forgive the long comment. I hope that this is helpful for you and your readers. Thanks again for your great blog.

Leave a Reply