5 Best Rewards Credit Cards, Fall 2015

There is no shortage of rewards credit cards out there, but only a handful is worth getting excited about. These cards offer the best of rewards with the greatest flexibility and fewest fees.

Best Travel Rewards Card – Chase Sapphire Preferred

What Makes It Great

Chase Sapphire Preferred gives you double points on travel and dining and you get full value on points for participating travel programs.

Points System – Get two Ultimate Rewards Points for every dollar you spend on travel and dining. All other spending earns one point per dollar. You can use points for statement credit, on Amazon.com or for travel under Chase Ultimate Rewards, which earns you a 25 percent bonus on your points. Combine your points with those earned under other travel rewards programs with participating hotels and airlines.
Bonuses – Get a 40,000-point sign-up bonus by spending $4,000 with the card in the first three months. The card also provides several types of travel insurance as part of its services.
Annual Fees – $0 the first year, $95 every year after.
Who Benefits Most – Travelers and frequent diners.

Runner Up – BankAmericard Travel Rewards Credit Card

What Makes It Great

Enjoy rewards with no blackout dates or other controls that would limit your ability to redeem travel rewards. In addition, there are no limits on rewards spending.

Points System – Earn 1.5 points for every dollar spent on any type of purchase.
Bonuses – Get 20,000 online bonus points by spending $1,000 or more in the first 90 days.
Annual Fee – $0.
Who Benefits Most – Anyone who would not earn enough in rewards to cover the $95 annual fee under the Chase Sapphire Preferred card.

Best Everyday Spending Cash Back – Chase Freedom

What Makes It Great

Chase Freedom is popular for its rotating calendar of cash backs categories that encompass many types of everyday spending.

Points System – Get five percent back on bonus categories under the quarterly rotating calendar. Bonus points are limited to $1,500 spending each quarter. To earn the bonus points, you must opt in each quarter. You can opt in retroactively.
Bonuses – Get a $100 bonus after spending $500 in your first three months.
Annual Fees – $0.
Who Benefits Most – Anyone with everyday expenses who isn’t into travel rewards.

Runner Up – American Express Blue Cash Preferred

What Makes It Great

Blue Cash Preferred offers the highest cash back rate with the most flexibility, making it ideal for those who don’t want to manage a bonus calendar.

Points System – Get six percent cash back on groceries, up to $6,000 a year. Earn three percent on gas and department store purchases with no limit.
Bonuses – Get $150 cash back after spending $1,000 in the first three months in the form of a statement credit.
Annual Fees – $75.
Who Benefits Most – Families, especially large ones who spend a lot on groceries and gasoline.

For Those Who Are Unsure What Rewards They’d Like:

Citi Double Cash Card

What Makes It Great

Citi Double Cash gives you flexibility in redeeming rewards. You can get cold hard cash, not just merchandise or a statement credit.

Points System – Get one percent cash back on every purchase. Get another one percent back when you pay off the purchase, with no limit to the points you can earn. Cash in points for a statement credit, a gift card or a check in the mail. Must have $25 in earned rewards to redeem points.
Bonuses – None.
Annual Fees – $0.
Who Benefits Most – Everyone who doesn’t benefit from travel, grocery, gas or department store rewards cards.

No matter your spending habits, one of these cards will give you a nice amount of cash back on money you have to spend anyway.