Best Credit Card Rewards You Need Right Now

I used to think that opening too many credit cards would dramatically reduce my credit score. I was afraid to take advantage of all of the amazing credit card offers out there because i didn’t want to see my credit score drop.

I had opened only three credit cards over the course of five years. However, after I met my wife, it blew my mind when she told me she opens one credit card every year and a half. When we had our credit scores pulled for buying our first home, her credit score was HIGHER than mine!

Don’t be afraid to open an extra credit card or two in order to take advantage of the incredible offers that some of these companies provide. Just make sure you are able to pay off your credit cards each month.

I am going to highlight the best credit card rewards right now and show you some of the lesser known benefits as well.

1. TRAVEL

By far, the best All Around Credit Card, the best Cash Back Credit Card, and the best Travel Credit Card are the Chase Sapphire Preferred and the Chase Sapphire Reserve Credit Cards.

The two cards have continuously, month after month, had the best sign up offers, the best rewards, and best all around benefits.

Chase Sapphire Preferred

The Chase Sapphire Preferred has a $95 annual fee, but you easily make that up with the sign up bonus alone. You earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months of opening your account.

These 60,000 points equate to $600 if you redeem for cash, OR, $750 if you use the points for travel. Your points get a 25% boost whenever you use them for travel.

You get 2X the points on travel and dining and 1X the points on everything else.

You also get $0 delivery fees when you use DoorDash and 5X the points when you use Lyft.

Some additional benefits include Trip Cancelation Insurance, Auto Rental Collision Protection, Baggage Delay Insurance, Trip Delay Insurance, Extended Warranty Protection, and Purchase Protection Sign up today through Chase.

• $95 Annual Fee
• $600 Sign up bonus for Cash OR $750 sign up bonus for Travel
• 25% Points Boost with Travel Redemption
• 2X Points for Travel and Dining
• $0 Delivery Fee with Door Dash

Chase Sapphire Reserve

The Chase Sapphire Reserve is a card specifically designed for those that travel. The annual fee is a lot higher, but the travel benefits that the card provides definitely make it worth it.

The card carries a $550 annual fee. You earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months of opening your account.

These 50,000 points equate to $500 if you redeem for cash, OR, $750 if you use the points for travel. Your points get a 50% boost whenever you use them for travel.

You also receive a $300 Annual Travel Credit that is reimbursed to your card for all travel purchases. This includes hotels, rental cars, EZ-Pass, Parking, etc.

You get 3X the points on travel and dining and 1X the points on everything else.

You earn up to $120 in statement credits on DoorDash purchases along with $0 delivery fees. You also get 15% off every Lyft ride along with 10X the points for each ride.

This card also includes up to $100 application fee credit for Global Entry or TSA Pre✓ as well as access to over 1,000 airport lounges worldwide after free enrollment in Priority Pass™ Select

Some additional benefits include Trip Cancelation Insurance, Auto Rental Collision Protection, Lost Luggage, Reimbursement, Trip Delay Insurance, Extended Warranty Protection, Purchase Protection, and Return Protection. Sign up with Chase if this card in enticing to you.

• $550 Annual Fee
• $500 Sign up bonus for Cash OR $750 Sign up bonus for Travel
• $300 Annual Travel Credit
• 50% Points Boost with Travel Redemption
• $100 Application Fee Credit for Global Entry or TSA Pre✓
• 3X Points for Travel and Dining
• $120 Statement Credit for Door Dash Purchases
• $0 Delivery Fee with Door Dash

Capital One Venture

The Capital One Venture card is a good general travel card. There are no restrictions to one airline or hotel chain.

This card is FREE the first year, but carries a $95 annual fee starting with the second year. You earn 50,000 miles after you spend $3,000 on your card within the first three months of opening your account.

You get 2X miles for every dollar that you spend and up to $100 application fee credit for Global Entry or TSA Pre✓. You can use your Venture miles for flights, hotels, rental cars, and so much more.

The Venture card also carries extra benefits such as Auto Rental Collision Damage Protection, Travel Accident Insurance, and Extended Warranty. Click here for more information on the Capital One Venture Card.

• FREE Annual Fee the first year, but $95 after that
• 50,000 Miles Sign up bonus
• 2X Miles for All Purchases
• $100 Application Fee Credit for Global Entry or TSA Pre✓

This card is good if you do not want to spend any money signing up for a card since there is no fee associated it for the first year. However, if you are looking to get more travel benefits out of a credit card, the two Chase options listed above are your better bet.

2. CASH BACK

In addition to the Chase Sapphire cards I mentioned above, there are also a few cash back credit cards that are really good to apply for. These include the Bank of America Premium Rewards and the Citi Double Cash.

Bank of America Premium Rewards

The Bank of America Premium Rewards card is perfect for you if you are mostly interested in Cash Back but also travel a little bit. The card offers a few extra benefits that are nice to have.

The annual fee for this card is $95 but you easily make this up with the sign up bonus. You earn 50,000 bonus points after you spend $3,000 on purchases in the first 3 months of opening your account. This equates to $500 when redeeming for Statement Credit.

You earn unlimited 2X points for all travel and dining purchases and 1.5X points for all other purchases.

A nice perk that I haven’t seen anywhere else is that you get up to a $100 Airline Incidental Statement Credit annually for qualifying purchases such as seat upgrades, baggage fees, in-flight services, and airline lounge fees.

You also get up to $100 application fee credit for Global Entry or TSA Pre✓

In addition, if you have a Bank of America Savings Account or Checking Account, your points get a boost of between 25-75%. These accounts are free to set up, so it is definitely worth it to get 3.5X points on travel and dining and 2.62X points on all other purchases.

More benefits that are available with this card include Trip Delay Reimbursement, Trip Cancelation Insurance, Baggage Delay Protection, Lost Luggage Reimbursement, Purchase Protection, Return Protection, Extended Warranty Protection, Auto Rental Collision Damage Protection, and Roadside Assistance.

Visit the Bank of America Premium Rewards Credit Card here

• $95 annual fee
• 50,000 point sign up bonus ($500 in statement credit)
• 2X points for Travel and Dining and 1.5X points for all other purchases
• $100 Airline Incidental Annual Statement Credit
• $100 Application Fee Credit for Global Entry or TSA Pre✓
• Points boost with Bank of America Checking or Savings account to 3.5X and 2.62X

Citi Double Cash

The Citi Double Cash card offers one of the highest rewards rates on the market. You will earn 1% cash back on every purchase you make and another 1% back when you pay them off.

There is NO annual fee but also NO sign up bonus. It is strictly 2% cash back on all purchases. This is a nothrills card with extra bonuses. It is simply 2% back on everything, with no limit and no rotating reward categories to worry about. Click here to apply for the Citi Double Cash Credit Card

• $0 annual fee
• 2X points for all purchases

3. Phone Insurance

If you are looking for a credit card that offers the best cell phone protection out there, then there is one card that stands out above the rest

UBER Credit Card by Barclays

This credit card used to have so many great benefits, but it recently cut back and really focuses its rewards on those that take UBERs. However, it carries with it some unique benefits as well.

There is NO annual fee with this card, and after you spend $500 in the first 3 months, you receive $100 in UBER cash that can be redeemed in the UBER app.

You get 5% back whenever you use your card for UBER or UBER Eats and 3% back whenever you use your card on dining, hotels, and airfare. The catch is that you can only redeem all of these points for UBER Cash.

This card comes with $50 in statement credit for any online streaming service that you pay for. This includes Apple Music, Pandora, Spotify, Amazon Music, Google Music, Audible, Sirius XM, Netflix, Hulu, HBO NOW, DirecTV NOW, and the membership fee for Amazon Prime.

The mobile phone protection for this card is amazing. You get up to $600 for mobile phone damage or theft for each claim when you pay your mobile phone bill with your card.

This means if your screen cracks, you drop your phone into water, or if you misplace/lose your phone, you are covered up to $600. You are allowed to file a claim twice every 12 months, which is $1,200 of Phone Insurance per year.

I have taken advantage of this offer three times over the past 3 years. My wife lost her phone and we were able to submit a claim and receive a brand new iPhone 7. We also submitted claims for two cracked screens. To date, this benefit alone has saved me over $1,000. Click here to get more information about the UBER Credit Card by Barclays

• $0 annual fee
• $100 in UBER Cash Sign up Bonus
• 5X points for UBER and UBER Eats
• 3X points for Dining, Hotels, and Airfare
• $50 Statement Credit for Online Streaming Services
• INCREDIBLE Cell Phone Protection ($1,200 per year)

4. GENERAL SPENDING

If you are just looking for an all around credit card that provides great benefits across the board, then the Amazon Credit Card might be the best for you.

Amazon Prime Rewards Card

This Amazon Credit Card, offered through Chase Bank, is a good card, but if you are an Amazon Prime Member, it becomes a great credit card. If you have Amazon packages delivered to your door as frequently as I do, I really recommend this card.

There is NO Annual Fee with this card, but there is also NO sign up bonus either.

With this credit card, you earn 5% back for Amazon.com purchases and purchases at Whole Foods, you earn 2% back at restaurants, gas stations, and drugstores, and you earn 1% back on all other purchases

There are no spending limits and you can redeem your points on Amazon, as Cash Back, or through the Chase Travel website. Find more information about the Amazon Prime Credit Card here.

• $0 annual fee
• $0 Sign up Bonus
• 5X points with Amazon.com and Whole Foods purchases
• 2X points at Restaurants, Gas Stations, and Drugstores
• 1X points on everything else

LESSON LEARNED!

Do not be afraid to open a new credit card as long as you are able to pay the full balance off each month. Your credit score will NOT go down just because you open an extra card or two.

There are so many great cards available ranging from Travel Benefits, Cash Back Benefits, and Phone Insurance Protection. Hopefully I outlined the best credit card rewards right now so you can see what card offers you the rewards that are most beneficial to you.