Since the 2016 launch of the Sapphire Reserve credit card by J.P. Morgan Chase, rewards credit cards have exploded into a mainstream obsession.
This was particularly evident among Millennials and Gen X-ers, as they jumped into the once-obscure world of credit card rewards and bonuses, drawn by the lure of high sign-up bonuses, special perks, and the opportunity to use points for free flights, hotel stays, and even first class tickets.
Now, more than two years after the debut of the Sapphire Reserve, what’s the best move for someone seeking to boost their stock of credit card points and frequent flyer miles? Here are some of the top credit cards currently available, based on sign-up bonuses, rewards earned on everyday spending, benefits, and overall value.
But first, a word of warning: Credit cards play a big role in maintaining a healthy credit profile and score. Make sure you’re aware of the impact that opening a new card can have, especially if you’re planning to apply for a mortgage or finance a major purchase anytime soon.
It’s also important to practice financial discipline when targeting credit card rewards – paying your balances off in full each month, making payments on time, and not spending more than you can afford to pay is the best course of action. After all, interest and late charges can cancel out the value you get from your rewards.
Here are the best credit card rewards and sign-up bonuses:
- Best credit card rewards overall: Chase Sapphire Reserve
- Best credit card for rewards on dining and groceries: American Express Gold Card
- Best credit card with a low annual fee: Chase Sapphire Preferred Card
- Best cash or points credit card with no annual fee: Chase Freedom Unlimited
- Best credit card for travel perks and benefits: Platinum Card® from American Express
- Best credit card for simplicity: Capital One Venture Rewards card
- Best credit card for frequent flyers: Airline rewards credit cards