Do credit card rewards expire?

Typically, credit card rewards don’t expire for the life of your account. That means your rewards won’t expire if you keep your account open and in good standing. However, read your rewards program’s terms and conditions carefully since this isn’t guaranteed for all cards.

Are credit card rewards taxable?

Generally, rewards are not considered taxable since the IRS considers the rewards to be a form of rebate on the purchase. Though uncommon, rewards may be taxable if they’re received under circumstances like bonus offers without a spending requirement. Make sure to look at the credit card’s terms to see the conditions of how you can receive and redeem bonus rewards.

What credit score do I need for a rewards card?

You typically need good to excellent credit (FICO score 670 and higher) to qualify for a competitive rewards card. Premium travel cards might require an excellent credit score (FICO score of 800 and above). You can also find rewards cards for people with fair credit, but the rewards and perks might be limited.

Best Rewards Credit Cards of December 2024

Compare Bankrate’s top rewards credit cards

Card name	Our pick for	Rewards highlights	Annual fee	Bankrate review score
Capital One Savor Cash Rewards Credit Card	Entertainment	8% cash back on Capital One Entertainment purchases 5% cash back on hotels and rental cars booked through Capital One Travel (terms apply) 3% cash back on dining, entertainment, popular streaming services and grocery store purchases (excluding superstores like Walmart® and Target®) Bankrate’s rewards value: 1.7 cents per point*	$0	5.0 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. (Read card review) Apply now on Capital One's secure site See Rates & Fees
Capital One Venture Rewards Credit Card	Travel bonus	5X miles on hotels and rental cars booked through Capital One Travel 2X miles on every purchase Bankrate’s rewards value: 1.7 cents per mile*	$95	4.9 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. (Read card review) Apply now on Capital One's secure site See Rates & Fees
Blue Cash Preferred® Card from American Express	Groceries	6% cash back on select U.S. streaming subscriptions and at U.S. supermarkets (up to $6,000 per year in supermarket purchases, then 1%) 3% cash back on U.S. gas station and transit purchases Bankrate’s rewards value: 2.0 cents per point*	$0 intro annual fee for the first year, then $95.	4.4 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. (Read card review) Apply now on American Express's secure site See Rates & Fees , Terms Apply
Wells Fargo Active Cash® Card	Flat-rate cash rewards	2% cash rewards on purchases Bankrate’s rewards value: 1.0 cents per point*	$0	4.3 / 5 Our writers, editors and industry experts score credit cards based on a variety of factors including card features, bonus offers and independent research. Credit card issuers have no say or influence on how we rate cards. (Read card review) Apply now

Best rewards credit cards of December 2024

+ Show Summary

Capital One Savor Cash Rewards Credit Card

Capital One Venture Rewards Credit Card

Blue Cash Preferred® Card from American Express

Wells Fargo Active Cash® Card

Chase Sapphire Preferred® Card

Citi Strata Premier℠ Card

The Platinum Card® from American Express

American Express® Gold Card

Prime Visa

Discover it® Cash Back

Capital One Venture X Rewards Credit Card

Citi Custom Cash® Card

Bilt Mastercard®

Capital One VentureOne Rewards Credit Card

Wells Fargo Autograph℠ Card

Compare Bankrate’s top rewards credit cards