The best rewards credit cards (2023)

These days, most of us use credit cards to pay for everything from coffee to airline tickets to Amazon shopping. If you want to stretch your wallet to the max, you need a credit card that offers solid rewards that match your spending habits.

• The best cashback card
• best travel card
• Best Guaranteed Card
• best business card
• The best credit card for students
• The best balance transfer card
• how we choose

Fortunately, there are many options, from simple cashback cards to more complicated travel cards, with lots of generous credits but also significant fees. And if your main concern is getting credit or paying off debt, there are options for you too, between secured and balance transfer cards.

To help you earn rewards with whatever type of card you're interested in, we've rounded up all the WSJ Buy Side picks across multiple card categories. Read on to see all of our best credit card options.

The best cashback card

why did we choose it: LosTarjeta Wells Fargo Active Cash®It is an annual feecredit card backwhich offers unlimited 2% cashback on everything you buy. This is the highest cash back rate you can get on all your credit card spending without restrictions like a spending limit. You can also earn a $200 sign-up bonus if you spend at least $1,000 in your first three months with Wells Fargo Active Cash.

Are the rewards worth the fees?Wells Fargo Active Cash does not charge an annual fee that affects your reward earnings. If you spend $3,000 a month on the card, which is an average spend for a Wall Street Journal subscriber, you'll earn $920 in cash rewards for the first year, including the $200 sign-up bonus. annual reimbursement of $720 at the same expense.

However, if you don't mind jumping a few hoops to get higher returns, you might be able to find a cashback card that will net you more. For example, heAlliant Reimbursement Visa Signatureoffers 2.5% back on all your expenses, but there is a monthly spending cap of $10,000. Additionally, you must be an Alliant member to sign up, open a credit union checking account, and meet certain requirements to take advantage of the 2.5% cash back fee.

You might also do better with a different card if you spend too much on certain categories like food or gas. For example, heCapital One SavorOneoffers 3% back on restaurants and grocery stores, excluding big-box stores like Target and Walmart, and on streaming and entertainment services.

best travel card

why did we choose it: LosCapital One Venture Rewards credit cardIt's a great option if you want to earn travel rewards without having to deal with a complicated rewards structure or high annual fees. At $95 a year, the card earns points per dollar on all your spending, as well as five points per dollar on hotels and car rentals if you book through Capital One.

You can also get a decent 75,000 mile sign-up bonus if you spend $4,000 in your first three months with the card. This works out to $750 when redeemed for travel.

Plus, you can enjoy the card's travel benefits, including airport lounge access, rental car coverage, and a $100 Global Entry or TSA PreCheck credit every four years.

Are the rewards worth the fees?: If you spend $3,000 a month oncapital of a company, you'll earn 147,000 miles in your first year on the card, including the introductory bonus. Altogether, this is worth $1,470 worth of travel. In subsequent years, you'll earn 72,000 miles for the same spend, which equals $720 worth of travel and more than enough to offset the card's $95 annual fee.

But then again, if certain categories take up more room in your budget, you might do better with atravel credit cardwho earns higher rewards in those categories. For example, if you spend a lot on food, theChase Sapphire Preferred Cardcan be a great choice as you earn points per dollar on food and groceries online excluding Target, Walmart and wholesale clubs. The card's annual fee is also $95.

If, instead, the benefits of luxury travel are your priority when choosing a travel credit card, check out theAmerican Express Platinum Cardthat comes with premium benefits like multiple insurance protections, airport lounge access, concierge service, advance ticket options and an extended warranty on qualifying purchases. You can also get up to $1,500 in annual value from the numerous statement credits the card offers. That said, Amex Platinum comes with a much higher annual fee of $695.

Best Guaranteed Card

why did we choose it: Discover it® Secured is a great credit building tool, thanks to monthly account reviews that begin after seven months on the card, as well as an ongoing path to a standard unsecured credit card. Plus, you'll also receive 2% cashback at gas stations and restaurants on up to $1,000 of combined purchases each quarter. All other purchases receive 1% back.

In addition, Discover it Secured is the onlysecured credit cardto submit an introductory bonus offer. That is, the issuer will match all the cash back you earn in the first year with the card.

Are the rewards worth the fees?When it comes to a secured credit card, building credit rather than earning rewards should be a priority. In addition, the credit limits on this type of card are often low, which can make it difficult to accumulate cash back.

Still, Discover it Secured can be very rewarding, especially since there is no annual fee. For example, if you spend $500 a month outside of the bonus categories, you'll earn $60 cash a year, or $120 your first year with the card. If $200 of that monthly budget went to dining out and groceries, you would earn $83 in annual repayment, or $166 in the first year.

That said, there are other secured credit cards that can potentially net you more. If you have fair credit or a FICO score between 580 and 669, consider Capital One Quicksilver Guaranteed Rewards, which earns 1.5% on all purchases.

Or, if you're ready for a more complicated cash rewards structure, the Bank of America® Customized Secure Cash Rewards Credit Card is worth a look. This card offers 3% cashback in the category of your choice and 2% cashback in supermarkets and wholesale clubs. Bonus rewards are capped at $2,500 in combined quarterly spend.

best business card

why did we choose it: LosTarjeta American Express Business Goldcan provide exceptional value, thanks to its points-per-dollar-spent ratio in either of the two categories where it spends the most.

Eligible categories should come in handy for many business owners and include airfare, advertising, gas, computer hardware and software, shipping, and more. Unlike some cards with bonus levels where you have to manually select where you will receive rewards, this card automatically determines rewards based on your spending. The bonus rate is capped at $150,000 in combined annual expenses.

The card also offers a generous welcome bonus: you can earn 70,000 points after spending $10,000 in the first three months. That's a value of $700 when redeemed for airfare with Amex. In addition, you can enjoy card benefits such as various travel and shopping protections.

SonAre the rewards worth the fees?Amex Express Trading Goldcharges an annual fee of $295 per year. Fortunately, the high rate of bonus rewards can make clearing easier.

Let's say your business spends $10,000 a month. If you spent just outside the eligible bonus categories, you'd earn 120,000 points a year, which would be worth $1,200 if redeemed for travel. In the first year, your earnings would be 190,000 points, including bonus 70,000 points or $1,900 in airfare.

If half of your spending was in the bonus categories, your annual rewards earnings would be 300,000 points or 370,000 points with the introductory bonus in the first year. That's worth $3,000 and $3,700 worth of airfare, respectively.

You can also redeem rewards for gift cards or at select online retailers, but your points may lose some value. If you'd rather just get a cash refund, consider a different option.business credit cardlike himCapital One Spark Cash Plusoffering unlimited 2% cashback on all purchases and a lower annual fee of $150.Chase Ink Business Unlimited® credit cardis another decent option with a 1.5% cashback rate on everything you buy and no annual fee.

The best credit card for students

why did we choose it: LosCapital One SavorOne for StudentsIt can be a great option for students, earning additional rewards in categories that students shouldn't have a problem reaching the most. The card offers 3% back at restaurants, entertainment, streaming services, and grocery stores, except Walmart and Target. All other purchases receive 1% back.

Plus, you'll receive 5% back on hotels and car rentals booked through Capital One Travel. Until January 2023, you can also receive 8% back on purchases through Vivid Seats, a ticket resale platform.

Plus, the card sign-up bonus is easy to earn. You can get $100 by spending just $100 in your first three months with the card. In addition, Capital One SavorOne for Students will give you access to benefits such as travel accident insurance, extended warranty coverage and concierge service, all of which are not common for astudent credit card.

ONEAre the rewards worth the fees?Like most student credit cards, Capital One SavorOne for Students has no annual fees. This means that if you avoid carrying a balance and paying interest, the card can generate significant earnings.

For example, let's say you spend $1,000 on the card every month. If all of these expenses were outside the bonus categories, you would earn $120 cash back annually or $220 the first year. But if you spent that money on groceries, meals, entertainment, and streaming, you'd make $360 a year, or $460 the first year.

If you prefer a student credit card with a simpler rewards system, check out theCapital One Quicksilver Rewards for Students, which offers 1.5% cashback on all purchases. Or, if you want your credit card to encourage responsible card handling, consider another card from the same issuer: theCapital One Journey Student Rewards🇧🇷 With the Journey card, you will receive 1% cashback on all expenses, but every time you pay your bill on time, your cashback rate will increase to 1.25% for that month.

The best balance transfer card

why did we choose it: Bank of America Unlimited Cash Rewards offers the ideal combination of ongoing rewards and a lengthy introductory offer on balance transfers and new purchases. The card earns 1.5% on all purchases and comes with an introductory 0% APR on balance transfers and purchases for 18 billing cycles. After that, the current variable APR applies.

Plus, you can earn a $200 sign-up bonus when you spend at least $1,000 on the card in your first 90 days.

Are the rewards worth the fees?Bank of America Unlimited Cash Rewards has no annual fee. But keep in mind that this card, like most balance transfer cards, comes with a 3% fee (minimum $10) on any balance transferred.

If your goal was to pay off $5,000 of credit card debt during your introductory interest-free period, you would be paying $286 a month. That said, it's about $57 less than a typical balance transfer with a similar balance transfer fee and a more standard 15-month interest-free offer.

If you're looking for a balance transfer card with no balance transfer fee, check out the Wings Financial Credit Union Wings Visa Platinum Card. Keep in mind, however, that the 0% interest term is shorter: just 12 months.

If you don't mind losing a few months of 0% APR, Wells Fargo Active Cash can also be a good option. You get 2% back on all your expenses and you're offered 15 months interest free on balance transfers, after which the continuously variable APR kicks in.

how we choose

To choose the buy side of WSJ Best Rewards credit cards, he analyzed hundreds of credit cards in different categories, from cash back to business and travel. In general, we looked for cards with generous rewards that were also easy to use, as we assume that most readers aren't obsessed with credit cards and are willing to keep and track a dozen cards.

There were exceptions in the guarantee and balance transfer categories, where we favored cards that offer the clearest path to getting credit or paying off debt.

To learn more about how we choose credit cards and meet our expert panel, you can also check out the Buy Side on the full WSJ website.best credit card methodology.

— Additional reporting by Aaron Hurd, Beth Pinkser, Ian Salisbury and Geoff Williams.