Best Rewards Credit Cards for September 2023

How do you choose the best rewards credit card?

If you're reading this, you're likely deep in research and asking yourself that exact question. Maybe you even have multiple tabs open as you read this, each with a list of supposed best rewards cards.

But how do you choose? Should you go flat-rate rewards? Points or cashback? Is it worth paying an annual fee? What about perks?

We want to help you. On this page, we'll take a look at the top cards that you'll see on most rewards credit card pages, as well as highlight which rewards cards we think are the very best rewards cards.

But it's important to note before we start: The cards we list here aren't simply those that pay us to say they're great rewards cards. These are cards we use personally and/or are cards we regularly recommend to our friends and family.

The best rewards cards: expert picks

If you're short on time, here's a quick run-down of our five top rewards credit cards:

• Wells Fargo Active Cash? Card (see rates and fees): Overall, this is our best rewards credit card. It offers fantastic value while being as easy to use as it gets, with an unlimited 2% cash rewards on purchases. It also has a large welcome offer, and all for no annual fee.
• Bank of America? Travel Rewards credit card (see rates and fees): This is our top travel rewards credit card with no annual fee. The 25,000-point welcome offer gives this card lots of upfront value, and it earns a competitive rewards rate that gets even better for Bank of America Preferred Rewards clients.
• Discover it? Cash Back (see rates and fees): This is our best rotating bonus category credit card, earning an impressive 5% on up to $1,500 of quarterly spending in rotating bonus categories you activate. Plus, Discover rewards new cardholders by matching all the cash back you've earned after the first year.
• Citi Custom Cash? Card (see rates and fees): This is our best credit card for earning bonus cash back, because its bonus rate is based on where you spend the most. Every billing cycle, you get 5% cash back on the eligible spending category where you spent the most.
• Capital One Venture Rewards Credit Card (see rates and fees): This is our best flat-rate rewards credit card for earning double miles per $1 on purchases. Combine that with a huge welcome offer of 75,000 bonus miles, and you can rack up the travel rewards with this card.

Best rewards card overall

Wells Fargo Active Cash? Card

Rewards rate: Unlimited 2% cash rewards on purchases

Why we picked it: It has the highest flat-rate, unlimited cash rewards that we've seen, plus a $200 welcome offer to add to its value.

What we think you should know about the Wells Fargo Active Cash? Card: If you strive for simplicity with your finances, this Wells Fargo card does the trick. You don't need to worry about activating bonus categories, or what purchases qualify for those categories. You earn 2% cash rewards for any type of purchase you put on this card.

It's one of a few 2% back cards, but I think it's the best of the bunch. Other options dish out your cash back as 1% when you make a purchase and 1% when you pay it off, or restrict how you can use your rewards. This Wells Fargo card doesn't do either of those, so it's the easiest to use.

Unlike those competitors, this card also has a welcome offer. You can earn $200 cash rewards bonus after spending $500 in purchases in the first three months. Once again, it's a straightforward, high value benefit.

Apply for the Wells Fargo Active Cash? Card on Wells Fargo's website.

Pros:

• Earn 2% cash rewards in all spending categories
• $200 cash rewards welcome offer
• 0% intro APR, 15 months from account opening on purchases and balance transfers

Cons:

• Charges a 3% foreign transaction fee
• Wells Fargo has a below average customer satisfaction rating (based on J.D. Power survey)

Best rewards credit card for travel

Bank of America? Travel Rewards credit card

Rewards rate: Unlimited 1.5x points per $1 on purchases

Why we picked it: It's one of few travel credit cards with no annual fee, and you can boost its rewards rate if you're in the Bank of America Preferred Rewards program.

What we think you should know about the Bank of America? Travel Rewards credit card: This is a solid rewards card that gets significantly better for Bank of America Preferred Rewards clients. If you have enough in qualifying assets with Bank of America and Merrill Lynch to qualify, you can join that program and get access to many benefits, including a higher rewards rate with Bank of America cards.

The base rate for this card is 1.5 points per dollar, which is reasonable, although not spectacular. Bank of America Preferred Rewards clients get a rewards boost of 25% to 75%. That takes the rewards rate up to between 1.875 points and 2.625 points per $1.

If you're a Preferred Rewards client, a Bank of America card is probably the right choice. It could be this one, or another one of the bank's rewards cards. If not, it's still a good card, but not necessarily a slam dunk.

Apply for Bank of America? Travel Rewards credit card on Bank of America's website.

Pros:

• Rewards boost of 25% to 75% for Preferred Rewards clients
• 25,000 points welcome offer (worth $250 toward travel)
• 0% Intro APR for 15 billing cycles for purchases and balance transfers

Cons:

• Doesn't offer many travel benefits, which limits the value for frequent travelers
• Rewards rate is average without rewards boost

Best cashback credit card for bonus categories

Discover it? Cash Back

Rewards rate: 5% cash back in rotating quarterly bonus categories when you activate (up to $1,500 spending cap), 1% cash back on other purchases.

Why we picked it: This Discover card is a great blend of high value and a user-friendly experience. It has a robust rewards program, earning 1% - 5% Cashback, plus Discover's innovative Cashback Match.

What we think you should know about the Discover it? Cash Back: You really can't go wrong with a Discover card. They all keep fees to a minimum, with no annual fee or foreign transaction fee, and Discover even automatically waives your first late fee.

The Discover it? Cash Back is my pick for the card issuer's best points card. It's one of few no annual fee cards to earn 5% back, in everyday spending categories that change every quarter. To make it even better, Discover automatically matches all the cash back you've earned at the end of your first year.

I got this card last year, and what I love is that it can benefit just about anyone. With its rewards rate, it works well in a one-card wallet where you always pay with the same credit card. But if you have other rewards cards, like I do, it slots in seamlessly. Just find out where it's earning 5% each quarter, activate, and use it in those bonus categories.

Apply for Discover it? Cash Back on the Discover website.

Pros:

• 5% cash back in rotating quarterly bonus categories
• Unlimited Cashback Match welcome offer
• 0%, 15 months intro APR on purchases and balance transfers for 15 months, after which a go-to 17.24% - 28.24% Variable APR applies.
• No annual fee or foreign transaction fee

Cons:

• Standard cash back rate of 1% on non-bonus purchases
• Not as widely accepted internationally as Visa or Mastercard

Also good cashback credit card: Citi Custom Cash? Card

Rewards rate: 5% cash back in top eligible spending category (up to $500 spending cap), 1% on other purchases

Why we picked it: With most rewards cards, the card issuer picks the bonus categories. With this Citi card, you earn big bonus cash back in whichever eligible category you spend the most.

What we think you should know about the Citi Custom Cash? Card: There aren't too many cash back cards that earn 5% back in any spending category. This Citi card does, for no annual fee, and that cash back rate is customized to fit your spending habits (hence the card name).

Here's how it works -- every billing cycle, you earn 5% in your top eligible spending category, up to a maximum of $500 in purchases. There's a list of 10 eligible categories, including grocery stores, gas stations, restaurants, home improvement stores, and live entertainment.

If you go out to a few concerts one month, you can earn 5% back on your tickets. Have some projects around the house over the summer? You can earn 5% back on supplies at home improvement stores. It's a card that makes it easy to maximize your rewards.

Apply for Citi Custom Cash? Card on the Citi website.

Pros:

• 5% cash back based on where you spend the most
• Welcome offer of 20,000 ThankYou? Points (worth $200)
• 0%, 15 months intro APR on purchases and balance transfers

Cons:

• Only one bonus category per billing cycle -- other purchases earn standard 1% cash back rate
• Charges a foreign transaction fee of 3%

Best flat rate cash back credit card

Capital One Venture Rewards Credit Card

Rewards rate: Earn unlimited 2X miles on every purchase, every day. Earn 5X miles on hotels and rental cars booked through Capital One Travel.

Why we picked it: You can earn big with this card, courtesy of the 2x miles per $1 and a welcome offer of 75,000 miles. Capital One Venture miles are also easy to use.

What we think you should know about the Capital One Venture Rewards Credit Card: I used to have this card, and now use the premium version, the Capital One Venture X Rewards Credit Card. Both are top-flight travel cards with a lot of benefits in common, and a couple of standout perks.

For starters, you can earn miles very quickly with this card. It has a 75,000-mile welcome offer and earns 2 miles per $1 on purchases. Most travel cards have bonus categories, but earn 1% on non-bonus spending. Personally, I love having a travel card that I can rely on to get 2 miles per $1 everywhere.

Another nice thing about Capital One Venture cards is the reward redemption options. Venture miles are redeemable for any type of travel purchase at $0.01 per mile. Or, you can transfer miles to Capital One's partners and potentially get much more value. I regularly save thousands on business-class airfare by transferring my Venture miles.

Apply for Capital One Venture Rewards Credit Card on Capital One's website.

Pros:

• Earn an unlimited 2x miles per $1 on purchases
• 75,000-mile welcome offer
• Miles are redeemable for any type of travel purchase or transferable to Capital One's travel partners
• Two complimentary airport lounge visits per year

Cons:

• Very limited bonus categories
• Capital One doesn't have as many travel partners as some other card issuers

More of our best credit cards for points:

Though these cards didn’t make our list above, they are still excellent rewards cards in our view. Depending on your personal situation, these could easily be a better fit for you than the cards above.

Here’s a look at some of our other favorites so you can compare credit card points or rewards:

You don’t want just any rewards card. You want the rewards card that’s going to work well for you.

Fortunately, there’s one simple thing to consider that will help you make the best choice: How much effort will you put into your credit card?

Rewards credit cards can be a very simple way to earn rewards and cash back for your spending. Or they can be a fun game of maximizing points and optimizing the use of perks.

Here’s a breakdown of the choices to make based on whether you want to keep it simple or get more involved.

You don’t have to choose everything from one column. But the more you just want to sit back while your credit card earns rewards, the more you should choose from the “keep it simple” column. And the more you want to earn the most rewards and get the biggest benefits from card perks, the more the “optimize” column may be right for you.

Now that you know where you fall on the simple/complicated spectrum, let’s compare the four main types of rewards credit cards: cash back credit cards, travel rewards credit cards, points credit cards, and retail rewards credit cards.

Travel rewards credit cards

If traveling is one of your favorite things, travel credit cards are basically made for you. These cards earn rewards that you can use to cover travel purchases like airfare or hotel stays.

These fall into the more complicated group of rewards credit cards, but can also be some of the most lucrative cards.

There are two main sub-types of travel reward credit cards: general (or issuer branded) cards and co-branded cards.

• General travel rewards credit cards are great because they’re more flexible. This type of travel card will allow you to rack up points on your travel even if you don’t have a preferred airline or hotel. Points can often be used to book travel through issuer travel portals, converted into points in airline or hotel rewards systems, or even converted into gift cards or statement credits (though you won’t get the best value this way).
• Co-branded travel rewards cards are the opposite. They are best when you do have a preferred airline or hotel. These cards are issued via partnerships between an issuing bank and an airline or hotel. These credit cards typically offer big points for booking with the co-branded airline or hotel and usually pay out in the form of that company’s loyalty points system. They also often have perks directly related to the travel company – for instance, free checked bags for an airline card or room upgrades for a hotel card.

Travel Rewards at a Glance

COMPARE MORE TOP PICKS: Best Travel Rewards Credit Cards

Cash back credit cards

Cash back credit cards are generally as easy as it gets in the world of rewards cards. These cards typically give users a percentage of their spending back in the form of cash or something very similar to cash, like a statement credit.

The two main types of cash back credit cards are flat-rate cash back cards and tiered or bonus category cards.

If cash back cards are simple, flat-rate cash back cards are the simplest of simple. These credit cards pay a fixed rate of cash back on all purchases, regardless of the category. There’s no need to track bonus categories or tiers, so this can be a great choice for those that want to earn rewards without having to do a lot of extra work.

On the other hand, tiered or bonus category cash back cards offer different percentage payouts depending on the spending category. Cardholders may get a low flat rate percentage on most spending, for instance 1%, but then get a higher rate of 3% or even 5% on certain categories such as groceries, gas, or dining. It does require you to do a bit more work in order to match the card to your spending, but the high-tier and bonus category rewards for these cards usually allow higher cash back earning versus flat-rate cards.

Cash back credit cards at a glance

Points credit cards

Points credit cards are good if you like flexibility. With points cards you earn points that can be redeemed for a wide variety of rewards including travel, merchandise, gift cards, and cash back.

It’s possible to optimize how you earn points and then how you redeem them on the other end. This can help you make the most of the rewards you get back from your everyday spending. However, the flexibility of points credit cards also means that if you don’t worry about how to optimally redeem your points, you can also convert to a simple cash-back reward.

Like other cards in rewards category, points credit cards can be split into flexible points cards and category-specific points cards. Flexible points cards will usually offer a number of points per dollar spent across all of your spending. Category-specific cards will have either fixed or rotating categories that award more points for spending within certain categories.

Points credit cards at a glance

COMPARE MORE TOP PICKS: Best Cash Back Credit Cards

Store credit cards

Store credit cards are a type of rewards card I often don't recommend for most people. A travel or cash rewards credit card is usually a much better deal, especially if you want a single-card wallet. But store cards are everywhere, and some have their uses if you shop at the store often, so it's worth knowing how they work.

Most store cards earn rewards you can redeem with that store for a gift card. There are exceptions, like the Costco Anywhere Visa? Card by Citi, which earns cash back. And some store cards offer a discount on purchases or zero-interest financing instead of rewards.

A store card can be "closed-loop" or "open-loop." Closed-loop store cards only work at that retailer and any related brands. Open-loop store cards can be used with other merchants. Some stores only offer one of the two, and others offer both options. When stores offer both, they generally approve customers with lower credit scores for closed-loop cards. Applicants with better credit can qualify for open-loop cards.

For example, let's say you apply for a T.J. Maxx credit card. Any of the following could happen:

• You're approved for the TJX Rewards? Credit Card. This is a closed-loop card, meaning you can only use it at T.J. Maxx and its other brands.
• You're approved for the TJX Rewards? Platinum Mastercard?. This is an open-loop card that can be used anywhere Mastercard is accepted.
• You're not approved for any of the T.J. Maxx credit cards.

Store credit cards at a glance

LEARN MORE: Best Store Credit Cards

After earning credit card rewards, you can redeem them through the card's rewards program. The ways you can redeem them depend on the card. Here are the most common redemption options for the best points credit card:

• Get cash back, as a statement credit on your credit card bill, a direct deposit to a bank account, or as a check.
• Use them for travel through the card issuer's travel portal, as a statement credit toward previous travel purchases, or by transferring them to airline or hotel loyalty programs.
• Redeem them for store gift cards.
• Redeem them for products or services.

When you log in to your online account, there should be a clear option to redeem rewards. Choose this to see what your redemption options are and pick the one you want.

Check how much value you get with each redemption method. People sometimes assume they get the same value no matter how they use their rewards. This is a common mistake that can cost you money. The value often depends on how you use your rewards. For example, if your card earns travel points, you may also be able to redeem them for cash back, but at a much lower rate per point.

You should get a rewards credit card if you have a good credit score and will pay the bill in full every month.

Rewards cards are usually a great choice. You're going to pay for purchases anyway. Why not use a rewards card to get something back on that money you're spending? There are only a couple of situations where the best points credit card isn't the right fit:

• You don't have a good credit score: Learn how to increase your credit score and work on that first. It usually takes a FICO? Score of at least 670 to get any of the best rewards credit cards. By improving your credit, you can qualify for rewards cards that offer much more value.
• You won't pay in full every month: Every month you carry a balance, the card issuer can charge you credit card interest. The cost of interest almost always outweighs your rewards.

Here are the pros and cons of having a rewards credit card:

Your financial situation may call for a different type of credit card. Here are a few common situations where a rewards credit card isn't the right choice, along with what type of card to pick instead.

If you won't be able to pay in full, get a credit card with a 0% intro APR on purchases. The credit card company won't charge you interest during your card's introductory period. On a card with a 15-month 0% intro APR, that means no interest charges for the first 15 months.

CHECK OUT THE LONGEST OFFERS: Best 0% APR Credit Cards

If you're working on your credit score, find a card aimed at people in your score range. First, learn about how to find out your credit score. Every credit score falls into a range, like "fair credit" or "bad credit." Once you know your score, you can pick a card you're likely to qualify for.

FIND THE RIGHT CARD FOR YOUR CREDIT SCORE:

• Best Credit Cards for Bad Credit
• Best Credit Cards for Fair/Average Credit
• Best Starter Credit Cards for No Credit

If you're dealing with credit card debt, go with a balance transfer credit card. These cards have a 0% intro APR on balance transfers (balances you move over from other credit cards). Although a balance transfer fee applies, you can still save quite a bit on interest this way. If you're unfamiliar with this type of offer, our complete guide to balance transfers explains everything you need to know.

SAVE ON DEBT: Best Balance Transfer Credit Cards

LOVE REWARDS? Check out The Ascent's MyPoints Review, where you can learn about the rewards program from MyPoints.