Credit card bonuses are a great way to save on everyday purchases like groceries or big-ticket purchases like airline tickets. Depending on the card and how you use it, you can see rewards as high as $1,000 or greater.
If your credit score is in good standing and you want a better way to make your money work for you, then check out these credit card bonuses. Money.com compared consumers’ favorite credit cards, rewards, annual fees, and more to find out the best deals in 2020.
Just keep in mind as you apply for a credit card, you should have a good understanding of any restrictions or criteria. Most cards have a minimum spending limit, miscellaneous fees, and other benefits you may not know about.
Chase Sapphire Reserve
Money.com rated the Chase Sapphire Reserve credit card as one of the most versatile rewards cards on the market. When you make at least $4,000 in purchases within the first 90 days of opening the account, you’ll get 50,000 points. Plus, you can get triple points for travel and eating out and 1x points for everything else.
Although this card comes with a $550 annual charge, you get a host of other benefits such as:
- A free DashPass subscription
- $120 in credits for food pick up or delivery (split evenly between 2020 and 2021)
- 10x points when you use Lyft (until March 2022)
- $300 yearly travel credits (gas and supermarket transactions count through the end of this year)
- $100 in credit for Global Entry or TSA Precheck
- Access to Priority Pass Select airport lounges
Whenever you exchange your points, you can redeem them for an additional 50% travel bonuses when you make reservations using the Chase portal. Another option is using your points for eligible airlines and hotels, cash back, gift cards, and much more.
Capital One Venture Rewards
Money.com ranked the Capital One Venture Rewards second on its list of best credit cards because you get 50,000 miles just for signing up and making $3,000 worth of purchases. When you use your card for qualifying streaming services, travel, delivery, and takeout purchases, you can get one point for every penny you spend.
The Capital One Venture Rewards card also allows you to redeem miles for participating airline partners as well as $100 for Global Entry and TSA Precheck. The annual fee is relatively low, just $95 per year.
Wells Fargo Propel American Express Card
With no annual fee, the Wells Fargo Propel American Express Card is an excellent choice. When you become a new cardholder and spend $1,000 in the first 90 days, you can get up to 20,000 points (valued at $200). You can also get 3% cash back on dining, gas, hotels, car rentals, rideshares, streaming platforms, and homestays while earning 1% on any other transaction.
Not only does this credit card come with no annual fee, but you also pay no interest on purchases within the first 120 days of signing up for the card. If you pay your phone bill with this card, you can receive cellphone protection, too.
Chase Sapphire Preferred
The Chase Sapphire Preferred gives you the same rewards as the Chase Sapphire Reserve card, but this comes with a significantly lower annual fee. According to Money.com, this credit card has a much more generous sign-up reward, too, though you don’t get the same degree of travel benefits.
When you open a Chase Sapphire Preferred account and spend a minimum of $4,000 in the first 90 days, you can get 80,000 points (a $1,000 value) for travel and other perks. Additionally, you can get twice the points for dining and travel and 1x points for everything else. When you want to redeem your rewards, you can exchange them for gift cards, statement credits, travel, and more.
When you exchange your points using the Chase Ultimate Rewards portal, you’ll get 25% more value. You can also use your points at participating airlines and hotel chains. Currently, points have a 25% higher value for groceries, dining, and home renovation purchases. Although it comes with a $95 annual charge, you don’t have to pay any foreign transaction penalties.
- Steele, Jason. “Best Rewards Credit Cards of 2020.” Money, 15 Sept. 2020, money.com/best-rewards-credit-cards/.