Finance | Credit Cards

Consumer Reports Best Credit Card Rewards – Top 7 Picks

While doing my usual research on credit cards, I came across various queries concerning credit cards, and most people wanted to know the best credit cards with rewards. There are various testimonies shared on social media such as Facebook and Twitter concerning the best credit cards that reward you when you use the cards to buy goods and services. I will base my discussion on the consumer reports best credit card rewards to give you the best credit cards you can have today.

Credit cards are very important when it comes to buying goods and services. This is because a credit card allows you to buy goods and services even when you do not have money in your bank account. In simple terms, the cards allow you to borrow money from your issuer and pay later at the end of the month. When paying back the money, you have to pay an additional amount as interest.

Application of a credit card does not take long in many institutions as feedback comes within a few minutes. It does not matter what type of credit card you are applying for as you can get instant credit card approval for bad credit with no deposit at many banks and other financial institutions. All that you have to do is to present all documents needed for the application of the credit card.

What is needed to apply for a credit card?

Consumer Reports Best Credit Card Rewards

When applying for a credit card, you need various documents that show your eligibility. Although you must be 18 years and above to apply for a credit card, you must bring documentation to prove that.

Requirements  include;

  • Social security number
  • Government ID
  • Prove of residence- Physical address and
  • Prove of employment

Other information that you might have to provide includes your email address, phone number, and your passport size photo. It all depends on the financial institution you are getting the card from. Students can also apply but they need to have proof of a reliable source of income which is not necessarily employment. They also need to produce a school ID during registration.

Who can apply for a credit card?

Anyone with the requirements can apply for a credit card. It does not matter the credit history you have as there are credit cards for people with bad credit history and others for people with good credit history. There are unsecured credit cards for bad credit with no deposit and the secured credit cards that require you to pay a deposit to get them.

Children and teens can also have credit cards but must be under their guardians. As a parent, you are liable for any usage of the card and your details are needed to register the card. That means that you must have a good credit record for the child to get the credit card. The same applies to guardians.

When a child gets a credit card, he or she begins building the credit scores and by the time he or she is an adult, he or she can get credit cards with higher limits. Remember that as a guardian, you can hand over the credit card account completely to your child as soon as they become adults.

What kind of rewards do credit cards offer?

Most credit cards offer rewards such as cash backs, opening bonuses, points, and miles. The rewards are a result of the usage of your credit cards to a certain amount of money. Any type of credit card, be it good or bad can qualify for a credit card. Many unsecured credit cards with bad credit offer rewards to encourage you to utilize your credit card properly to get a better credit card.

How can I use the rewards?

You can redeem the points at various points or exchange them with a certain amount of money. Miles can be used to pay for your travel ticket while cashback can be applied as a statement credit on your account balance.

Which are the best 7 credit cards with rewards?

If you are looking for the best credit card with rewards, then any of the following cards will be of great help.

1) Blue Cash Preferred® Card from American Express

With this card, you get 6% cash back at U.S. supermarkets when you spend up to $6,000 in a year in purchases. Thereafter you get 1% on any amount above $6000. You also get 6% cashback on specific U.S. streaming subscriptions. Furthermore, you will also get 3% cashback on transit including taxis/rideshare, trains, buses, and more.

In addition, you get 3% cash back at U.S. gas stations and 1% cashback on other kinds of purchases. Also, the Intro Bonus for the card is $300. The annual fee is $95, waived during the first year. With proper card usage, you can even qualify for personal loans from a credit union since your credit scores will always be up. See more

2) Capital One® Quicksilver® Cash Rewards Credit Card

The card has zero annual fees. You should never worry about paying yearly fees for card usage. In addition, you will enjoy earning unlimited 1.5% cash back on each purchase you make every day. Also, you get an Intro Bonus amounting to $200! This is when you spend $500 on purchases within 3 months when you open your account.

Furthermore, you don’t need any rotating categories or sign-ups to earn cash rewards. Interestingly, the cashback will not expire for the rest of the account’s life. You can earn as much as possible since there are no limits. You will also benefit from a 0% introductory APR on purchases for 15 months. Thereafter, you will have a 15.49%-25.49% variable APR. See more

3) Discover it® Cash Back

Discover it® Cash Back is one of the best rewards credit cards with no annual fee. Upon getting the card, you will earn 5% cashback on any purchase you make each quarter in places such as Amazon.com, grocery stores, gas stations, as well as when you make payments using PayPal, up to the quarterly maximum upon activation. You will also be able to earn 1% unlimited cash back on all other purchases you make.

In addition, you will earn 1% on all other purchases you make with the card. You will also get an opportunity to get alerts when your Social Security number is on any of the thousands of Dark Web sites. See more

4) Capital One® SavorOne® Cash Rewards Credit Card

This card also does not have any annual fees. You will pay completely zero fees for the yearly usage of the card. Also, you will be able to earn an unlimited 3% cash back on dining as well as on entertainment. Interestingly, the card has an $200 introductory bonus after spending $500 on purchases within the first 3 months of account opening.

 Furthermore, you will be able to earn unlimited 3% cash back on entertainment and dining,  2% at grocery stores and 1% on any other purchase. Again, the card has no foreign transaction fees. It has 0% intro APR on purchases for the first 15 months and thereafter, a 15.49% – 25.49% variable APR will apply. See more

5) Blue Cash Everyday® Card from American Express

Get this card and be able to transfer money using the routing number and account number to different people anywhere in the world. You will also earn 3% cash back at U.S. supermarkets when you spend up to $6,000 per year in purchases. After that, you will get a 1% cashback on amounts above $6,000.  In addition, you will be able to earn 2% cash back at U.S. gas stations and at certain U.S. department stores.

In addition, you will get a 1% cashback on other purchases. Note that the card will earn you a $200 statement credit after you spend $1,000 on purchases within the first 3 months of getting the card. See more

6) Chase Freedom Unlimited®

Get this card and earn 5% cash back on the selected grocery store purchases on up to $12,000 you spend in the first year. Furthermore, you will be able to earn 5% on travel ticket purchased through the card. In addition, earn 3% on dining at restaurants as well as at drugstores and also get unlimited 1.5% cash back on any other purchase.

Like many other cards, you will get a $200 intro bonus after you spend $500 on purchases in the first 3 months of account opening. There is no minimum amount to redeem for cash back and the rewards do not expire as long as your account stays active. See more

7) Discover it® Secured

This is a good card as you will not be paying annual fees. Earn 2% cash back at gas stations and restaurants when you spend up to $1,000 in combined purchases each quarter. You also earn unlimited 1% cash back on other purchases. You will be able to grow your credit scores with no time since the card issuer reports to the major credit bureaus. It also features secure fraud protection.

You can manage the card online with your mobile phone when you register on their website. Since it is difficult to get a second chance credit card with no security deposit which gives you rewards when you use the card, then why don’t you consider Discover it® Secured? After all, the security deposit you make will be returned to you if you pay your bills on time for two billing cycles and 10 days. See more

Bottom line

Credit cards with rewards are amazing since you benefit a lot from the gifts. You can redeem the rewards with valuable items in supermarkets, filling stations and at grocery stores. Furthermore, you build your credit scores as you enjoy using the card. Children can get credit cards when they use parents or guardians as their guarantors. You should pay your credit debt as early as possible to avoid penalty charges.

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