The Best Rewards Credit Cards for January 2021

The Citi Double Cash Card* is a straightforward, no annual fee cash back card that offers up to 2% cash back on every purchase. You’ll get 1% when you make a purchase and another 1% when you pay it off. The card has no annual fee and a 0% introductory APR period for balance transfers for 18 months. After the introductory period you’ll be subject to a variable 13.99%-23.99% APR. 

Other Citi Double Cash benefits include purchase protection, damage and theft protection, and a free concierge service.

Read our full review of the Citi Double Cash Card.

This card has one of the highest flat back cash rewards offerings on the market and charges no annual fee. We like flat cash back for its simplicity, and unlimited 2% cash back is a great way to maximize rewards on every purchase you make. 

To get the most out of your rewards, make sure you pay down your balances on time and in full every month so you get the full 2% back. Based on average consumer spending, we’ve estimated that the Citi Double Cash Card has an annual rewards value of $265.16.

And if you have some debt to pay down before you start collecting rewards, you can also use this card’s 18-month 0% introductory rate for balance transfers. But make sure you have a plan in place to pay off any balance transfers you make during that intro period, because you’ll be subject to a variable 13.99%-23.99% APR after. 

With the Blue Cash Preferred Card from American Express you’ll get 6% cash back at U.S. supermarkets on up to $6,000 per year in purchases (then 1%), 6% cash back on select U.S. streaming subscriptions, 3% cash back on transit, 3% cash back at U.S. gas stations, and 1% cash back on other purchases. 

You can earn a $250 statement credit after spending $1,000 within the first three months and enjoy a 0% introductory APR on purchases for the first 12 months from account opening (variable 13.99%-23.99% variable APR after that). There’s a $95 annual fee.

While this card doesn’t earn Amex Membership Rewards, you’ll have access to a host of American Express premium perks like early ticket access and preferred seating through American Express Experiences. 

Read our full review of the Blue Cash Preferred Card.

The Blue Cash Preferred offers serious cash back value in some of the categories Americans spend most. Though the rate is capped after $6,000 in purchases, 6% back at U.S. supermarkets is one of the highest cash back rates for this category available across any rewards card. 

If groceries, gas, and streaming make up a bulk of your monthly budget, you should consider this rewards card. Based on average consumer spending, you could earn $302.96 each year in cash back with this card (more if you spend heavily in rewards categories), after accounting for the $95 annual fee. 

With the Chase Freedom Flex, you’ll get 5% cash back in rotating bonus categories each quarter, 5% cash back on travel booked through Chase Ultimate Rewards, 3% cash back on dining at restaurants, 3% cash back at drugstores, and 1% cash back on all other purchases, all for no annual fee. 

If you spend $500 within the first three months of account opening, you’ll qualify for an additional $200 bonus. You can also benefit from a 0% introductory APR for 15 months on purchases. After the 15 months you’ll be subject to a variable 14.99%-23.74% APR.

Read our full review of the Chase Freedom Flex.

With a unique structure of rotating cash back rewards plus additional tiered bonus categories, the Freedom Flex is a powerful spending tool across everyday categories, and can easily help you reap maximum rewards on nearly everything you buy. It’ll take a bit more work than flat cash back rewards, but you can also earn higher cash back percentages if you’re willing to do a bit of planning to maximize categories.  

Freedom Flex is also a bit of a hybrid between a points-earning and straightforward cash back option, increasing your flexibility even further when it comes to redemptions. You’ll earn points that you can redeem for cash, but you can also choose other options available through Chase. You’ll get the most value for your points by booking travel directly through Chase Ultimate Rewards. 

This card becomes even more valuable when you combine it with a Chase Sapphire Card (The Preferred or Reserve). The Preferred and Reserve cards let you redeem your points for 25% or 50% more value, and you can transfer your points from your Freedom Flex account to your Sapphire account, and make those points worth more as well.

The Platinum Card from American Express earns 10x points at gas stations and supermarkets in the first six months (up to $15,000 in purchase), 5x points on flights and prepaid hotels booked through American Express Travel, 2x points on all other travel booked through amextravel.com, and 1x point on all other purchases. 

But its real value comes from the luxe perks and benefits that come in exchange for the Platinum Card’s $550 annual fee. You’ll get up to $200 in airline fee credits, up to $200 in annual Uber Cash, up to $100 toward purchases at Saks Fifth Avenue, fee credits for TSA PreCheck or Global Entry, American Express Global Lounge Collection access, Marriott Bonvoy Gold Elite status, Hilton Honors Gold status, concierge service, event access, and more. 

You can also earn 75,000 bonus points after spending $5,000 in the first six months from account opening. 

Read our full review of The Platinum Card from American Express.

If you’re on the hunt for a card that can elevate your next travel experience, this is a good option. The Platinum Card from American Express can give you access to a next-level vacation and unmatched convenience, if you’re willing to spend on a pretty steep annual fee. You’ll get the most from this card if travel is one of your top expenses, and you’re not only looking to cash in rewards for more travel but also want to upgrade those experiences.

If your normal spending (and budget) aligns with the Platinum Card’s rewards, you can quickly offset the $550 fee with all the credits and other travel perks you get with it. Just make sure you don’t let the flashy rewards and credits become an excuse to overspend on things you wouldn’t purchase otherwise.

With the Chase Sapphire Reserve, you’ll get 3x points on travel worldwide, 3x points on dining at restaurants worldwide, 3x points on up to $1,000 in grocery purchases every month through April 2021, and 1x points on all other purchases. You can also earn 50,000 bonus points after spending $4,000 in the first three months from account opening. 

To help offset the $550 annual fee, you’ll also get a $300 annual travel credit, a fee credit toward TSA PreCheck or Global Entry, Priority Pass Select membership for airport lounge access, up to $120 credit toward Peloton purchases, up to $120 credit for DoorDash and a complimentary 12 months DashPass, and 10x points on Lyft purchases and a Lyft Pink membership.

Read our full review of the Chase Sapphire Reserve.

Chase Sapphire Reserve is a premier rewards card with the pricetag and benefits to match. Like comparable rewards cards for frequent travelers, it offers a long list of freebies and additional benefits. Don’t discount the Reserve’s regular rewards-earning potential either: worldwide dining and travel are both far-reaching categories that can help any globetrotter maximize spending. 

But what makes the Chase Sapphire Reserve one of the most valuable travel cards on the market is its rewards currency: you can redeem your points for 50% more value through Chase Ultimate Rewards. 1 point usually equals 1 cent, but with the Reserve, 1 point is equal to 1.5 cents when you redeem for travel. For example, the introductory bonus offer is worth $750 when redeemed for travel through Chase Ultimate Rewards — easily a good chunk of your next vacation. 

Plus, you can further maximize your rewards with the card by pairing it with another card from Chase, like the Chase Freedom Unlimited or Chase Freedom Flex. These cards offer rewards on different categories than the Sapphire Reserve, and you can pool your points in one account and still redeem them for that premium 1.5 cents per point value.

The American Express Gold Card lets you rack up points on everyday spending to put toward major savings on a future trip. You’ll get 4x points at restaurants worldwide, 4x points at U.S. supermarkets, 3x points for flights booked directly with airlines or amextravel.com, and 1x points on other eligible purchases. 

You can earn 60,000 bonus points when you spend $4,000 within six months of opening your card, plus up to a $120 dining credit, up to a $100 airline fee credit (through Dec. 2021), and $100 credit toward eligible purchases after booking hotel reservations through the American Express Hotel Collection. The Gold Card has a $250 annual fee. 

Read our full review of the American Express Gold Card

This card gives you the opportunity to maximize travel rewards by earning American Express Membership Rewards points at places you spend the most, like supermarkets. If you’re a relatively frequent traveler, but spend more of your daily budget on everyday items, your points will add up fast with Amex Gold to take down the price of your next trip. 

Plus, the Gold Card comes with a few premium benefits that nearly offset the $250 annual fee in full if you take advantage of them, including up to $100 in airline fee credits (through Dec. 2021) and up to $120 in eligible dining credits. 

With the Capital One Venture Rewards Credit Card*, you’ll get two miles per dollar on every purchase you make. Plus, you can earn 60,000 bonus miles when you spend $3,000 in the first three months. You’ll pay a $95 annual fee, and there’s no blackout dates, expiration dates, or limits on how you can use your miles. 

The Ventures card also offers up to a $100 fee credit for Global Entry or TSA PreCheck, has no foreign transaction fees, and comes with travel insurance and assistance.

The Venture card is similar to a flat 2% rewards card like Citi Double Cash, but you’ll earn miles rather than cash back. It’s a great choice for earning rewards on your everyday purchases that you can put toward future travel. Capital One miles are a flexible rewards currency, but you’ll get the most value if you redeem them directly for travel. Capital One’s Purchase Eraser makes doing so simple: redeem miles for statement credits toward eligible travel purchases made within the past 90 days. 

You can also transfer your Venture miles to Capital One’s 10 travel partners and, through April 2021, redeem your miles at eligible restaurants or delivery services, for streaming services, or even for wireless phone services through Capital One’s Cover Your Purchases program.