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Delta SkyMiles Reserve Card Review 2022

The Best Rewards Credit Cards for Earning Points and Miles of 2022

The Best Rewards Credit Cards for Earning


The Best Rewards Credit Cards for Earning Points and Miles of 2022


If you're using a plain old credit card every day that doesn't offer rewards, you're missing out.

There are many credit cards that have great rewards that let you pay for your daily expenses.

We're talking things like travel benefits, cash, merchandise, and more.

We surveyed the top credit card offers on reward points and miles to find out which one is best for your needs. We found that some cards offer more rewards per purchase than others; While there were somewhere there was no minimum spending requirement at all!

In our opinion, after much analysis, these are the top rewards credit cards that you can get today.

The Best Rewards Credit Cards of 2022


Credit Card

Best for

MyBankTracker Rating 

(1-5 Stars)

Capital One VentureOne Rewards Credit Card

Best for Airlines & Hotels

4.0

The Platinum Card from American Express

Best for Travel

5.0

Chase Sapphire Preferred Card

Best for Multiple Rewards

5.0

Capital One Quicksilver Cash Rewards Credit Card

Best for Cash Rewards

4.0

Chase Freedom Unlimited

Best for Cash back Bonus

4.0

Blue Cash Preferred Card from American Express

Best for Families

5.0




Capital One VentureOne Rewards Card: Best for Airlines and Hotels

The Capital One Venture Rewards Credit Card is a travel rewards credit card that offers unlimited 2 miles per dollar spent on every purchase.

You can redeem these miles for statement credits for travel purchases you've already made. The redemption value is 1 mile per penny. (For example, 10,000 miles would equal a $100 travel detail credit).

The Capital One Venture Card has a laundry list of features designed to benefit frequent travellers.

Here are some of the top reasons we recommend the card to anyone interested in scoring free travel:

complex reward structure
Some travel credit cards let you rotate spending categories or jump through other hoops to earn rewards.

The Capital One Venture Rewards credit card always pays you 2 miles per $1 on everything you spend, there's no limit to what you can earn.

Global Entry or TSA PreCheck Credit

Cardmembers automatically receive a credit of up to $100 in the form of an application fee for Global Entry or TSA PreCheck, which you will receive in the U.S. Makes travel more convenient by allowing you to move much faster through customs and/or security lines.

Bonus Miles for Qualifying Members

Typically, this card comes with a large introductory bonus on miles when you spend enough on purchases in the initial months of owning the card.

This is a great start towards your first free flight or hotel stay.

Hassle-free redemption

With some travel cards, trying to use your miles or points for travel can be a pain. This card makes it easy for you.

You can redeem rewards in the form of a statement credit against travel expenses or use your miles to book travel through Capital One.

No foreign transaction fees

If you're using a card that charges a 2%-3% foreign transaction fee, international travel can be expensive. Fortunately, Capital One never charges any foreign transaction fees.

Why this card is necessary for travellers

These are all great reasons to apply for the Capital One Venture Rewards Card, but there's one that stands out from the crowd: the rewards structure.

The ability to always earn double miles on what you spend with no limits is a plus for any traveller who prefers simplicity in a rewards card.

You're not stuck keeping track of bonus categories, and you have control over how many miles you earn based on what you spend.

Here's an example of how your miles might add up. Let's say you incur the following expenses in the first year:

$5,000 = 10,000 miles on groceries
$3,000 = 6,000 miles on gas
$7,000 = 14,000 miles on the trip
Total: 30,000 Miles

Each mile you earn is worth $0.01 in redemption value, which means that every 100 miles are equal to $1.

If you earn 30,000 miles a year, that's enough to get a $300 credit for your next trip. The bonus of 50,000 miles is another $400 for new members. In the example, in total, it's $700 in free travel after the first year.

This card is a great option for someone who travels a lot or uses plastic to pay for everyday purchases.

The more you spend, the more miles you earn and that kind of flexibility is something you don't always get with travel rewards cards.

Rates, Fees and Perks

Before you sign up for a Venture Card or any travel credit card for that matter, you need to read the fine print.

Annual percentage rate

The annual percentage rate, or APR, effectively determines what your credit card interest will cost over the course of a year if you have a balance.

There's no 0% APR promotion for purchases or balance transfers with this card, so that's something to keep in mind if you're looking for a zero-interest deal.

Capital One does not list any penalty APRs on its website for making late payments.

Card fee

The Venture Card has a $95 annual fee.

Other cards extra

In addition to offering unlimited double miles and that generous sign-on bonus, the Capital One Venture Rewards Card makes it so you can travel and shop with ease.

The card comes with Visa Signature benefits, which include:

  1. Complimentary upgrades and discounts at participating hotels, resorts and spas when you use your card
  2. Complimentary 24/7 concierge service when you travel
  3. Exclusive access and preferred meeting at selected events including sporting events and concerts
  4. Round the clock travel emergency assistance
  5. Extended warranty protection on items you purchase
  6. Exclusive shopping discounts when you shop in-store and online from select merchants
With regard to protection, if your card is lost or stolen, the Venture Card offers $0 liability protection for fraudulent purchases.

The card also features EMV-chip technology, which provides an extra layer of security when using your card in the store.

If you want to protect yourself further, you can link your card to your Apple Pay account.

Final Verdict: Is the Card Worth the Annual Fee?
The Capital One Venture Rewards Credit Card is recommended for people who travel a lot and want to travel free without headaches.

One potential snag worth pointing out is the fact that Venture Miles cannot be transferred to other travel loyalty programs.


If you belong to a frequent flyer or hotel loyalty program, you may prefer a card that allows you to transfer your rewards or a card that is co-branded for a specific event.

However, earning and using rewards for flights, hotels, car rentals or cruises is not easy with this card. The annual fee is a bargain compared to the annual fee charged by other travel credit cards.


American Express Platinum Card: Best for Travel

American Express's Platinum Card® is the perfect travel companion for frequent travellers.

The card comes with travel benefits, including annual airline fee credits, complimentary lounge access, and exclusive benefits at over 900 hotels and resorts worldwide.

As the icing on the cake, this card allows you to earn an impressive 5 points per dollar on qualifying flights. A generous one-time introductory point bonus is also available for new members.

With very high annual fees, the card doesn't come cheap. We reviewed the American Express Platinum in more detail to help you decide whether it's worth the higher price tag.

Premium Traveling Allowances for Major Savings

Professionals

One of the best cards for those who want to earn high rewards points and get extra perks for shopping - especially for travel
Lots of additional benefits for cardholders
no foreign transaction fees
Various credits for certain travel and shopping expenses


The card balance is payable in full each month, or interest is charged
AMEX may not be accepted at every merchant
If you don't travel often, it can get expensive

American Express's Platinum Card® will be most appealing to those who spend a lot of time flying or staying in hotels.

Between a $200 airline fee credit, $550 hotel benefits, free lounge access, and automatic Hotel Elite status, this card easily pays for itself.

If you only take one or two trips a year, on the other hand, you're probably not going to get much value out of it.

Ultimately, we think it's best for travellers who want to get more than just reward points with a travel rewards credit card.



Tips to get more rewards
If you have a big purchase to make or a large bill to pay, you can increase your rewards points by using your rewards credit card to do so.

It can also work on travel expenses or for collecting checks after an evening outing. (Though you can ask your friends to reimburse their share).

Using rewards cards to pay bills is a smart way to earn some extra points. (Sometimes you can do this with your rent as well.) Just make sure you can pay off the balance before the end of the billing cycle.

1. Redeem cashback to spend as you wish
Depending on the credit card, cash rewards can be redeemed in a variety of ways.

Some cards allow you to deposit the proceeds into a bank account or use the rewards as a statement credit. (Reaching the rewards as statement credit can help you reduce your credit card balance.)

2. Tailor the card to your spending habits
Most rewards programs have a base rewards rate that applies to all purchases. However, real profits can be seen with bonus rates that are applied to specific types of purchases.

For example, many credit cards offer bonus rewards on travel purchases or grocery shopping. To earn the most rewards, focus your spending on those bonus categories.

Before signing up for a credit card, review your spending to make sure it's the best rewards credit card for you. That way you can really maximize your rewards.

Review your credit card statements for the last 6-12 months. This should give you a clear view of your spending habits. Then you'll know how to match the best rewards credit card for you.

3. Redeem Your Rewards Points for the Most Value
Plus, check out the rewards you want to redeem the most. Some programs may value your points differently depending on the reward.

For example, the same 5,000 points you earn could get you a $50 gift card, but only $25 cash back.

Don't inadvertently get caught up in rewards you don't really want or need. To stop this watch how the redemption can change for each reward.

Annual fees are not uncommon with credit cards that offer rewards. But if you can take advantage of those rewards, you should be able to offset the fee.

4. Understand Bonus Rewards Categories
For certain purchases to qualify for the Bonus Rewards rate, the Merchant Category Code (MCC) must match the Bonus Rewards Category.

Therefore:

Rewards credit cards will issue bonus rewards based on where you shop, not what you buy.

You can buy anything from an eligible merchant and still earn the bonus rewards rate. Therefore, if you are earning a higher bonus rewards rate at grocery stores, all purchases at local supermarkets will receive bonus rewards.

Each merchant has its own MCC, which may vary depending on the card network. (Card networks include American Express, Discover, MasterCard or Visa). In addition, each location of the same merchant company may have a different MCC.

There are three ways to identify a merchant code for a location or website:

View Visa's supplier locator tool by address for a specific retailer
Make a small purchase to see the transaction category and check your credit card activity
Ask a colleague at the store (preferably a cashier or manager)
Credit card companies are very strict with their rewards policies, which you agree to when you sign up for a credit card.

It is often very difficult to dispute the eligibility of a transaction for bonus rewards.









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