Best rewards credit cards of December 2023

Pros

• Paying your monthly cellphone bill with your card earns you cellphone protection, a relatively valuable perk.
• You can redeem your rewards as physical cash in $20 increments when you use a Wells Fargo ATM — a convenient option missing from many rewards cards.

Cons

• Though it comes with Visa Signature® features, the Active Cash card's extra perks are otherwise limited.
• You cannot transfer rewards to airline or hotel loyalty programs and can only redeem through Wells Fargo.

Pros

• It offers $50 in annual hotel statement credits for stays booked through Chase Ultimate Rewards and a 10-percent anniversary points bonus — enough value to easily justify the annual fee.
• Ultimate Rewards points are some of the most valuable rewards thanks to Chase’s quality transfer partners, a 1-cent-per-point cash back redemption value and a 25 percent boost when you use points for Ultimate Rewards travel.

Cons

• If you are looking for travel perks like airport lounge access or free checked bags, you won't find it on this card.
• The card's grocery rewards rate only applies to eligible online grocery purchases, which could limit its appeal as a standalone option for everyday rewards.

Pros

• According to Bankrate's valuations, each mile is worth on average 2 cents if redeemed through a Capital One transfer partner — great value for a flat-rate card.
• You can take advantage of statement credits for expedited security screening and two complimentary lounge visits per year, which might make the low annual fee worth it.

Cons

• The welcome offer has a high spend requirement, so it may not be easy to attain.
• Some competitors provide more eye-catching perks like annual hotel credits, account anniversary bonus points and ridesharing perks.
• Unless you take advantage of Capital One’s transfer partners, your miles will only be worth 1 cent (or less, for non-travel redemptions). Other travel cards offer a higher point value if you redeem through the issuer’s portal.

Pros

• It’s easily one of the most well-rounded rewards cards available thanks to its generous cash back rates and variety, accessible welcome offer and long intro APR periods.
• It offers automatic cash back redemption — a relatively rare option that can make the rewards experience even easier.

Cons

• Superstores and wholesale clubs like Walmart, Target, BJ’s and Sam’s Club do not count for elevated rewards rates, which may limit your potential earnings.
• You can redeem cash rewards on Amazon.com, but there is a list of restricted items.

Pros

• The card’s welcome bonus is one of the easiest to earn with a low spend requirement.
• You can earn rewards with minimal effort before graduating to a higher-maintenance card that offers better rewards rates.

Cons

• Even compared to other cash back cards available with no annual fee, its perks are limited.
• Some rival cards offer unlimited 2 percent cash back on all purchases while still charging no annual fee.

Pros

• The card also offers unlimited 6 percent back on select U.S. streaming subscriptions — one of the best rates available in that category.
• Few premium cards offer intro APR periods, but this card provides an intro APR on purchases and balance transfers — handy for chipping away at the cost of large expenses over time.

Cons

• Your only redemption options are statement credits, gift cards or merchandise.
• Purchases at wholesale clubs, superstores (like Walmart), and specialty stores (bakeries, farmers markets, etc.) are excluded from the card’s U.S. supermarket bonus category and only earn 1 percent back.

Pros

• Its restaurant, supermarket and gas station rewards categories can outperform rival flat-rate travel cards, making it easy for the average spender to offset the annual fee.
• You can pair it with other Citi ThankYou cards for optimal travel rewards value.

Cons

• The travel perk roster isn’t as valuable or extensive as other cards with a similar annual fee.
• Unless you plan to leverage travel transfer partners, your point value is stuck at only 1 cent per point.

Pros

• Since you aren't locked into year-round or quarterly bonus categories, you can enjoy more flexibility in how you earn top rewards.
• For a no-annual fee card, it offers attractive additional perks if you receive it with World Elite Mastercard status, such as partner offers with Lyft and DoorDash.

Cons

• It may not work well as a standalone card since you’ll only earn 1 percent back on all purchases outside your top eligible spending category.
• You’ll only earn 5 percent back on your first $500 in an eligible category each billing cycle (1 percent after that). This could hold you back if you spend heavily in one category or share the account among multiple households.

Pros

• Transferring points to partner airline or hotel loyalty programs, which include popular brands like Delta and Hilton, can get you more value.
• You can earn additional rewards by enrolling in Amex Offers.

Cons

• You'll need to use the annual credits or transfer points for travel frequently to offset the annual fee.
• Your points are worth much less if you redeem them to cover dining purchases or any travel purchases other than airfare (they’re often worth half as much or less).

Pros

• The general travel category alone is quite comprehensive, and the first $300 you spend on these purchases is covered by annual travel credits.
• It pairs incredibly well with other Chase rewards cards since you can pool points across multiple cards and boost your point value by 50 percent when you redeem for Ultimate Rewards travel bookings.

Cons

• This card charges a steep $550 annual fee, which may be hard to upkeep if you aren’t planning to use perks other than the rewards and annual travel credits (like the Priority Pass Select airport lounge membership).
• Its luxury travel perk roster isn’t as strong as that of some rival cards since it’s missing benefits like complimentary airline or hotel loyalty status.

Pros

• The thousands of dollars in annual and monthly credits are enough to cover the annual fee and eclipse competing cards’ benefit value.
• The Platinum Card carries perhaps the most comprehensive lounge access and travel benefits of any mainstream personal card.

Cons

• Several annual credits and perks aren’t practical for many cardholders (like the Equinox and private jet program offers), which may make the $695 annual fee tough to offset.
• The bonus category coverage is quite narrow, so you’ll have to lean on the extra perks for the bulk of your value.

Pros

• Since the card’s travel perks make it easy to offset the annual fee, you won’t have to worry about offsetting the card’s cost with earning enough rewards.
• You’ll also enjoy Visa Infinite benefits (including exclusive travel concierge service) and the Capital One Travel portal’s AI-powered pricing perks for more affordable bookings.

Cons

• It’s missing a number of the luxury benefits you’ll find on rival cards, like an annual CLEAR membership credit, complimentary hotel or airline loyalty status and other airline hotel and restaurant partner perks.
• Its biggest drawback is perhaps Capital One’s lack of major domestic airline partners, which limits the value of your miles compared to rewards on other travel cards.