While it’s wise to pay cash for most of your purchases and avoid feeding a credit card habit, there are some situations where paying with a credit card makes sense. Case in point: Going plastic to earn cash back rewards or frequent flier miles on those purchases.
Booking travel, buying a new refrigerator or even taking care of that grocery bill with a rewards card could pay off in more ways than one. With so many different types of credit cards out there, it’s often hard to decide which is the best for you.
We did some digging and found several credit card rewards programs that offer some excellent perks. Here are five rewards cards that might interest you:
Best Grocery Rewards Credit Card: BankAmericard Cash Rewards™ Credit Card
Earn rewards on those grocery and gas purchases with the BankAmericard Cash Rewards™ Credit Card. You earn 2% on grocery store purchases and 3% on gas for the first $1,500 charged to the card. You can also earn 1% cash back on other purchases and if you’re already a Bank of America Customer, you’ll be working up to a bonus that’s deposited directly to your checking or savings account.
Best Travel Rewards Credit Card: Capital One Venture Rewards Credit Card
Frequent travelers don’t want to miss out on this travel rewards card that offers unlimited earning potential and no expiration date on miles you’ve worked so hard to earn. Unlike many travel rewards cards out there, you’re not limited to a certain airline or hotel chain with the Capital One Venture Rewards Credit Card. And, there are no blackout dates when you want to cash in those miles so you can trot the globe at your leisure.
Best VIP Travel Rewards Credit Card: Visa Black Card™
If you’re a jetsetter at heart and want the VIP experience on your next adventure, use your Visa Black Card™ and enjoy privileges like unlimited VIP airport lounge visits, a subscription to a members-only magazine and 24-hour concierge service. This one does have an annual fee of $495 but you earn 25,000 bonus points when you spend $1,500 in the first 90 days and can earn rewards for luxury travel experiences and gifts.
Best Cash Back Rewards Credit Card: Chase Freedom Card
This is a good card for those in need of some instant gratification — you’ll earn a $100 bonus after spending just $500 within the first three months of opening the card and 5% cash back on up to $1,500 on qualifying purchases with the Chase Freedom card. After the introductory period, you’ll continue earning 1% cash back on all other purchases and don’t have to pay an annual fee the entire time.
Best New Car Rewards Credit Card: BuyPower Card from Capital One
Saving up for a new car? If you have your eye on a new Chevy, Buick, GMC or Cadillac, start making purchases with the BuyPower Card from Capital One to earn rewards towards a new vehicle. The card offers 5% earnings on your first $5,000 in purchases each year and unlimited 2% earnings on every purchase after that.
What credit card rewards card do you use regularly? Share your top picks in the comments below!