7 Top Travel Rewards and Cash Back Credit Cards for 2024

Travel rewards credit cards offer valuable benefits for those who love to explore new places or frequently find themselves on the go for work or leisure. Additionally, cash back credit cards provide an excellent opportunity to earn back a percentage of your spending in various categories. Here’s a breakdown of seven popular cards to help you decide which one best suits your spending habits:

1. Chase Sapphire Preferred Card

The Chase Sapphire Preferred Card is a favorite among travelers, known for its flexibility and valuable points system.

• Earn Rate: 2X points on travel and dining at restaurants worldwide, 1 point per dollar spent on all other purchases.
• Sign-Up Bonus: Offers a significant bonus if you spend a certain amount within the first three months of account opening.
• Redemption Options: Points can be transferred to multiple airline and hotel loyalty programs at a 1:1 ratio or redeemed through the Chase Ultimate Rewards portal for travel, with points worth 25% more when redeemed for travel.
• Annual Fee: There is an annual fee, but the benefits often outweigh the cost for frequent travelers.
• Additional Perks: Includes trip cancellation/interruption insurance, baggage delay insurance, and no foreign transaction fees.

2. Capital One VentureOne Rewards for Good Credit

A great option for those with good credit looking to earn travel rewards without an annual fee.

• Earn Rate: Earn unlimited 1.25X miles on every purchase, every day.
• Sign-Up Bonus: Earn a one-time bonus after meeting the initial spending requirement within the first three months.
• Annual Fee: $0.
• Redemption Flexibility: Miles can be redeemed for travel expenses, transferred to over 15+ travel loyalty programs, or used to book new travel.
• Foreign Transaction Fees: None, making it an excellent card for international travel.

3. Chase Freedom Unlimited

A versatile cash back card that complements travel rewards cards well.

• Earn Rate: Unlimited 1.5% cash back on all purchases; higher rates on travel purchased through Chase, dining, and drugstore purchases.
• Sign-Up Bonus: Additional cash back after you spend a certain amount in the first few months.
• Annual Fee: $0.
• Redemption Options: Cash back, gift cards, travel through Chase Ultimate Rewards.
• Other Benefits: No minimum for redemption and cash back rewards do not expire.

4, 5, 6. Southwest Rapid Rewards Cards (Plus, Premier, and Priority – Personal only)

Each card caters to different traveler needs but all offer valuable points towards Southwest flights.

Plus

• Earn Rate: 2X points on Southwest purchases; 1X points on all other purchases.
• Sign-Up Bonus: Generous new cardmember offer.
• Annual Fee: Lowest annual fee among the three, with some foreign transaction fees.

Premier

• Earn Rate: Similar to Plus but includes additional points on anniversary.
• Annual Fee: Higher than Plus, with no foreign transaction fees and more anniversary points.

Priority

• Earn Rate: Highest earning potential on Southwest purchases.
• Annual Fee: Highest of the three but includes travel credits and upgraded boardings.
• Perks: Annual travel credit and upgraded boarding positions.

7. Capital One QuicksilverOne Cash Rewards Credit Card

Ideal for those building their credit but still want to earn cash back on every purchase.

• Earn Rate: Unlimited 1.5% cash back on every purchase, every day.
• Annual Fee: There is a modest annual fee.
• Credit Building: Access to a higher credit line after making your first 5 monthly payments on time.
• Automatic Cash Back: Cash back is earned automatically and never expires.
• Foreign Transaction Fees: None, making it another good option for travelers.

Choosing the Right Card:

Consider your spending habits:

• For frequent travelers who value flexibility, a card with transferable points like Chase Sapphire Preferred or Capital One VentureOne might be ideal.
• If you primarily fly Southwest Airlines, a Southwest Rapid Rewards card could offer the most value.
• For everyday spending with no annual fee, Chase Freedom Unlimited and Capital One QuicksilverOne offer straightforward cash back rewards.

Remember:

• Review annual fees and interest rates before applying.
• Consider your credit score, as some cards have minimum score requirements.

Additional Tips:

• Look for cards with bonus offers for new cardholders.
• Take advantage of travel insurance and other benefits offered by your chosen card.

It’s important to compare features and rewards programs to find the card that best aligns with your needs.