When searching for the best credit card for you, it can be hard to decide. Do you want to earn points or do you want to earn airline miles. This one over here does both but the APR is a lot higher. Plus, so many companies offer so many different types of credit cards it’s hard to even know all your options.
Wallethub did their 2019 Credit Rewards Report to help. Here’s what they found out:
- Earning Potential: The best rewards card can yield up to $1,243 more than the worst rewards card over the first two years.
- Best Issuer: Capital One has the best credit card rewards program for the fifth consecutive year, earning an average WalletHub score of 91%.
- Strategic Redemption: Redeeming for travel is the best deal, yielding 21% more value than redeeming for merchandise, the worst option.
- Earning Policies: Capital One leads the way with no earnings limits and rewards that neither expire nor are forfeited if you miss a payment.
- Eligibility & Transparency: Barclays, Navy Federal Credit Union, and BECU set the clearest expectations by stating rewards terms and restrictions upfront.
- Favorite Currency: 74% of people think cash back is the best kind of credit card rewards.
- Best Initial Bonus: Chase Sapphire Preferred® Card (~$1,546 in net 2-year rewards)
- Best Cash Back: Alliant CU Visa® Signature Card (~$1,702 in net 2-year rewards)
- Best Travel Rewards: Capital One® Venture® Rewards Credit Card(~$2,068 in net 2-year rewards)