Paddy Sullivan, WalletHub Credit Card Advisor
@PaddySully
The best credit card for high spenders is Chase Sapphire Reserve, which has a $10,000 minimum spending limit. The Chase Sapphire Reserve card also offers 60,000 bonus points for spending $4,000 in the first 3 months.
But it’s hard to narrow it down to a single card when the decision depends on how much you spend, how much you’re willing to pay in fees, and what perks you value most.
Here are some of the best credit cards for high spenders:
The Chase Sapphire Reserve offers 60,000 bonus points for spending $4,000 in the first 3 months. And it has a $10,000 minimum credit limit.
You will also earn a total of 10 points per $1 spent on hotels and car rentals booked through Chase, a total of 10 points per $1 spent on prepaid restaurant reservations or takeout orders made through Chase, a total of 5 points per $1 spent on flights purchased through Chase, 3 points per $1 spent on all other travel and dining purchases, and 1 point per $1 on all other purchases.
Plus, you'll get 50% more value when you redeem points for travel through Chase Ultimate Rewards. The Chase Sapphire Reserve annual fee rings it at $550.
Capital One Venture X gives you 75,000 miles for spending $4,000 in the first 3 months. In addition, it offers 2 - 10 miles per $1 on purchases. It has a $395 annual fee.
The American Express Platinum card offers 80,000 points for spending $6,000 in the first 6 months. There is no preset spending limit. You can also earn 5 points per $1 on flights booked with airlines or with American Express Travel (up to $500,000 spent per year), 5 points per $1 spent on prepaid hotels booked through Amex, and 1 point per $1 on all other purchases. This credit card's annual fee is $695.
The Wells Fargo Active Cash initial bonus is $200 cash rewards after spending $1,000 in the first 3 months. It also offers 2% cash rewards on all purchases. There are no category restrictions or sign ups and cash rewards don’t expire as long as your account remains open.
The Blue Cash Preferred credit card offers $250 statement credit for spending $3,000 in the first 6 months. In addition, you can earn 6% cash back at U.S. supermarkets (up to $6,000 spent per year), 6% back on select U.S. streaming subscriptions, 3% back at U.S. gas stations and on transit, and 1% back on all other purchases, earned as statement credits. The annual fee is $0 intro 1st yr, $95 after.
The American Express Business Platinum card offers 120,000 points for spending $15,000 within 3 months. It gives 1 - 5 points per $1 spent on purchases. The American Express Business Platinum card has a $695 annual fee.
The best credit card for high spenders will ultimately depend on the spender in question. And it’s important to make sure that your card has a high enough limit to accommodate your spending. To maintain your credit score, you should try to use no more than 30% of your available credit
2023's Best Credit Cards
Cameron Sarr, Member
@cameron_sarr
If you’re a high spender, I think the Capital One Venture credit card might be for you. It offers a one-time bonus of 50,000 miles if you spend $3,000 in purchases within 3 months of account opening. That’s equal to $500 in travel. It also earns 2 miles per dollar on all purchases, which can be redeemed towards travel purchases on any airline, hotel, or car rental.
Monica Durante, Member
@monica_durante
I think American Express's Platinum card is pretty up there, with Reserve. 60k points, and great hotel benefits aplenty.
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