Posted by admin on November 4, 2010
The following is a guest post by Nicole Sanchez of CreditCardForum.com
Finding the right rewards credit card is no easy task. There are literally hundreds to choose from. To further complicate matters, you’re not always comparing apples to apples since they all have different programs that give points, cash back, and miles. So to save you some legwork, I’ll go over my picks for the best reward cards in each category.
Best For Cash Back – Chase Freedom Card
If you are looking for a card that gives simple cash back, then you can’t go wrong with the no annual fee Chase Freedom card. Review it yourself to see why. It gives 5% in categories that rotate four times per years plus 1% cash back on everything else. Read my Chase Freedom card review to find out more.
Best For Airline – Escape by Discover Card
The Escape card is a no-nonsense way to earn airline miles. For a low $60 annual fee you get 2 airline miles for every dollar spend. Those miles can then be spent on any travel purchase you like, at a conversion rate of $0.01 per 1 mile… so basically this credit card is giving you 2% in rewards on all your purchases!
Best For Hotels – Starwood American Express Card
The Starwood American Express really has a unique rewards program. Why? Because it’s the only card that I know of that allows you to either use your points for stays at Starwood hotels – or – you can convert them to over 30 partner airlines, usually on a 1:1 basis. This makes the Starwood AmEx an extremely versatile choice whether you stay at their hotels or not. The annual fee is a low $65, which is quite reasonable when you consider the benefits. To find out more check out my Starwood American Express review.
There are hundreds of reward cards but in reality, only a handful are even worth considering. I’ve listed three of the top contenders above, but I encourage you to read other credit card reviews to see if there are any others that may be a better choice for you.