It is quite overwhelming picking the right card. This is because there are countless options available, which makes it difficult to know one is best for you. However, that’s why we are here. We want to relieve you of this stress with our top five rewards credit cards for 2020. We analyzed several credit cards against the popular spending habits of individuals to come to this conclusion.
You don’t have to be an aggressive points optimizer to fully enjoy the perks that come with these rewards credit cards. Simply having the right card and knowing how to use it will get you a long way. Plus by paying your balances on time, you will thoroughly enjoy whatever card you get.
Here are our top five rewards credit cards carefully selected for you. The beauty of these cards is that they also come with a variety of additional perks, including travel insurance, exclusive discounts, annual statement credits, and other valuable features. Keep reading to explore each option and discover which card works best for your spending habits and financial goals.
1. Capital One® Venture® Rewards Credit Card
If you are a frequent traveler, then you will enjoy using this credit card. It offers discounts on select hotel purchases and offers 10X the miles every time you spend at least $1 on hotels through January 2020. If you are planning to take a trip this year, make use of this credit card. If you book rental cars and hotels through Capital One Travel℠, you will also earn up to 5X in miles. However, one important thing to note is that this card comes with an annual fee of $95.
This card comes with no foreign transaction fees, making it ideal for frequent travelers. It also offers travel perks such as 24-hour travel assistance, travel accident insurance, and trip delay coverage. These benefits make it a convenient and reliable choice for safe, stress-free travel.
2. American Express® Gold Card
If you are a food lover, then this card might be best for you. Whether you prefer dining at home or eating out, this card offers 4X points every time you spend a dollar at restaurants worldwide plus 4X points at supermarkets within the U.S. Your value Membership Rewards® will vary according to how you choose to redeem them.
You will receive an annual dining credit of $120, which breaks down to $10 per month at Grubhub, Seamless, Ruth’s Chris Steak House, The Cheesecake Factory, and other locations. If you love traveling, you could also take advantage of their $100 airline fee credit and use it to purchase in-flight food and beverages.
This card also comes with no foreign transaction fees, making it ideal for travelers who frequently shop or dine abroad. While the annual fee is $250, the card includes benefits such as a $120 dining credit and $100 airline fee credit every year. By taking full advantage of these perks, you can effectively reduce your out-of-pocket annual fee to just $30, making the card much more cost-effective.
3. Alliant Cashback Visa® Signature Credit Card
This card gives you up to 2.5% cash back on almost all purchases, which makes it an ideal card for shopaholics. If you are looking for a card that will help you maximize your everyday spending, get ahold of this card. Whereas this card comes with a competitive cash-back program, it also comes with an annual fee of $90. However, this fee is waived the first year.
To qualify for this credit card, you need to be an active member of the Alliant Credit Union. If you are not yet a member, you have the option to open a new account with them, which will make you eligible to apply for this card. As an added incentive, Alliant will even pay $5 on your behalf when you join the credit union, making the process easier and more rewarding.
4. Chase Sapphire Reserve®
This is another excellent card that is ideal for people who love traveling frequently and are always looking for ways to save on flights, hotels, and other travel-related expenses. It comes with zero foreign transaction fees, making it perfect for international trips, and offers 3X the points on travel and dining purchases worldwide, allowing cardholders to maximize their rewards while enjoying their journeys.
It’s important to note that the value of your points varies depending on how you will use them. For instance, when you redeem points for travel using this card, your points will increase to up to 50%. Keep in mind too that, as a premier rewards credit card, this card comes with a hefty fee of $450 annually.
5. Citi® Double Cash Card-18 Month BT
This is another rewards credit card that is good if you are looking for a low-hassle card to use on your daily expenses. This card comes with one of the highest flat-rate cashback offers you will ever find. As if that is not enough, you also get 1% cashback every time you purchase anything and another 1% after paying them off. This card comes with no annual fee.
Bottom Line
Though these rewards credit cards offer a list of benefits that are hard to dismiss, it’s important to note that not all cards can work for you. First, do your due diligence, visit their websites, and see which card best suits your needs.
Disclaimer: All credit products carry risk. Be aware of these risks by reading the associated terms and conditions.
