If you’ve worked your way to earning an excellent credit score, congratulations! Now that you’ve reached this goal, how about rewarding yourself with a credit card with the best rewards?
If you pay in full every month, why not earn the best in cash back or rewards and get a 0% APR? Credit card companies already make money every time you use your card, through the card swiping fees charged to merchants! Make your money work for you and get something back for free to reward yourself.
With an excellent credit score of 720 or higher, you should be able to qualify for almost any card. Now let’s go shopping and check out the best credit card rewards.
1. Discover More Credit Card
Although Discover isn’t as widely accepted as other cards, this credit card has a generous 5% cash back on gas, groceries, and restaurants. There is also low 0% introductory APR for the first 15 months.
Card Rewards:
- 5% Cashback Bonus® in categories that change like travel, gas, groceries, restaurants, home improvement stores and more
- 24/7 access to a U.S. based Account Manager within 60 seconds
- $0 Fraud Liability plus automatic mobile and email fraud alerts
APR: 0% introductory APR for 15 months from the date of account opening. After the introductory APR expires, your APR will be 11.99% to 20.99% based on your creditworthiness. This APR will vary with the market based on the Prime Rate.
2. Amazon Rewards Visa Credit Card
I love this card because you can earn free stuff on Amazon. And no, I don’t get a commission from them anymore because they cut off California affiliates =(. But I recommend this credit card if you shop frequently at Amazon.com because they have made it very easy to spend your points. You can start using your points even if you’ve earned only $1.00 in rewards or 100 points.
Card Rewards:
- Earn 3 points on Amazon.com purchases
- Earn 2 points on gas, dining, and drugstore purchases
- Earn 1 point on purchases everywhere else
APR: n/a
3. Costco American Express TrueEarnings Credit Card
If you shop a lot at Costco, this card may be worth it for you. Plus, the Costco American Express TrueEarnings Card is the only credit card accepted at Costco. Earn points everywhere, not just at Costco, and get rewards in the form of an annual check to use at Costco.
Card Rewards:
- Earn 3% cash back on gas
- Earn 2% cash back on restaurants and travel
- Earn 1% cash back on purchases at Costco and everywhere else
- No annual fee for Costco members
APR: 0% intro APR for 6 months. After that, your APR will be a variable rate, currently 15.24%
4. American Express Blue Cash Preferred Credit Card
American Express has 2 cards in the Blue Cash category – Preferred and Everyday. With this Preferred card, you can earn a very high 6% cash back on groceries. You won’t find this interest rate anywhere else, at least I couldn’t. The catch is that there is a $75 annual fee which you’ll more than earn back at the end of the year.
Card Rewards:
• Earn 6% cash back at supermarkets.
• Earn 3% cash back at gas stations and department stores.
• Earn 1% cash back on all other eligible purchases.
APR: 0% for up to 6 or 12 months, then a variable rate, currently 17.24%, 19.24% or 21.24%
Annual Fee: $75
5. American Express Blue Cash Everyday Credit Card
Although this card has no annual fee, it has lower rewards than the Preferred card. You’ll earn 3% cash back on supermarkets.
Card Rewards:
- Earn 3% cash back at supermarkets.
- Earn 2% cash back at gas stations and department stores.
- Earn 1% cash back on all other eligible purchases.
APR: 0% for up to 6 or 12 months, then a variable rate, currently 17.24%, 19.24% or 21.24%
Annual Fee: None
If your credit history is less than perfect, check out Credit Cards for Bad Credit.
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These are truly the best credit cards for rewards. American Express has the best credit card rewards program by far! If you travel a lot or like to travel then using your AMEX points to buy miles is the way to go. American Express and Delta are partners so they allow you to transfer your points to Delta miles. But here’s the catch. You only transfer when Delta is offering AMEX point transfer bonuses. They always have some type of promotion going on and if you wait for the perfect time, you can get between 25-50% more miles by transferring your points to Delta.
1 pt = 1 mile
So if you transfer 50k points (that would be 2 free airline tickets), you get 50% more miles, which would be an extra 25k miles (another free ticket). You can find tickets as low as 25k miles. So if you buy tickets using your Delta miles you will save more money than if you paid for a $100 gift card (usually 20k amex points).
I can’t tell you how many free tickets Ive gotten this way. Over the past 2 years I haven’t paid for a single airline flight. I also run my business through my AMEX card and every single purchase. I always pay it off so I never pay any interest.
Best cards by far! Have the AMEX Blue, Gold and Platinum cards.. just watch out as some have yearly fees. Our Gold card has a $100/year fee but they also credit you with 25k points.. enough to pay for the card itself. You just have to spend $50k/year to get the bonus points.
Ben, thanks for the tips!
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I also like the Freedom card by chase. You can snag a $200 bonus after just $500 in purchases within the first 3 months (pretty solid return on investment!) Plus they have a regular cash back structure of between 1 and 5 percent depending on the category of the purchase. Like the cards you’ve mentioned above it also requires an immaculate credit score. The cash bonus is only available for a limited time though and once it expires I think the Blue Cash by AE will be the best available. I personally hate rotating categories for accumulating rewards.
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