Rewards Credit Cards

There are several $500 credit card bonus offers available right now. For example, Capital One Venture offers 50,000 bonus miles, worth $500 in travel. Chase Sapphire Preferred and Reserve each offer 50,000 points, worth much more than $500 when used toward travel. And Capital One Spark Cash for Business has a rare $500 cash bonus.

All of the $500 credit card bonus offers require you to spend at least $3,000 in the first few months to qualify for bonus earnings. And all of the cards require good or excellent credit to get in the first place. As you can see, you’re also far more likely to get $500 worth of miles or points than cash. Let’s take a closer look at some of the best offers.

Here’s are some options for a $500 credit card bonus:

• Chase Sapphire Preferred. 50,000 bonus points for spending $4,000 in the first 3 months. That’s $500 toward most rewards or a whopping $625 toward travel. You’ll need excellent credit and have to pay a $95 annual fee, which is waived the first year.
• Chase Sapphire Reserve: 50,000 bonus points for spending $4,000 in the first 3 months. Those points are worth $500 toward most rewards or $750 in travel. The card requires excellent credit and charges a $450 annual fee.
• Capital One Venture: 50,000 bonus miles for spending $3,000 in the first 3 months. That’s worth $500 in travel. You need good credit and the annual fee is $95, waived the first year.
• Capital One Spark Cash for Business: $500 cash bonus for spending $4,500 in the first 3 months. This card requires good credit and has an annual fee of $95, which is waived the first year.
• British Airways Credit Card: 50,000 bonus Avios miles for spending $3,000 in the first 3 months. 25,000 bonus Avios miles for spending $10,000 in the first year. That’s a $750+ value. You only need good credit for this card, and there’s a $95 annual fee.
• Southwest Airlines Rapid Rewards Premier: 40,000 bonus points for spending $1,000 in the first 3 months. Since Rapid Rewards points are worth around 1.5 cents each, that’s a $600 value. This card requires excellent credit and has a $99 annual fee.

Chase Sapphire Preferred and Capital One Venture are the best of these cards in terms of overall benefits. But it’s good to shop around and find the card that best fits your needs.

Amex Blue Cash Everyday might be your best option. Can't really beat 3% cash back at supermarkets, 2% at gas stations and select department stores and 1% on the rest of your purchases. Plus, you get a 0% APR on purchases for 15 months. This is a great card especially considering that rewards credit cards tend not to offer long 0% periods and 0% cards lack in the rewards department. 

Most of the time, though, it's best to keep separate cards for separate purchases. You can get both a rewards credit card and a 0% card to focus on earning for one and financing for the other. I found some good ones on WalletHub's rewards cards page and 0% cards page​​​​​​​. Good luck!

If you have less-than-good credit or revolve a monthly credit card balance, you should not focus on credit cards with rewards. If you don’t have good credit, you should focus on minimizing monthly and annual fees in order to build your credit standing as inexpensively as possible. If you don’t pay your bill in full every month, the benefit provided by credit card rewards will be eroded, if not wiped out completely, by interest charges. While you might find that some credit building or 0% credit cards offer some rewards, consider that a happy accident.
As always, avoid actually using a credit card if it leads to you spend more than you would otherwise. If this occurs, pay off your credit card balances and lock your card(s) in a drawer. Don’t worry, your credit score will still benefit just from your credit card(s) reporting you as being in good standing on a monthly basis.

You should try to find a credit card with rewards if you plan to pay your bill in full every month. Otherwise, expensive finance charges will quickly eat away at your savings. And rewards should only be your top priority if you have good or excellent credit. People with lower scores may not receive high enough credit lines for their rewards to offset an annual fee. So finding a no annual fee credit card that you can get approved for should be your main goal at that point. If that card happens to offer rewards, all the better.
With that being said, simply determining that a rewards card is right for you is only half the battle. Next, you have to figure out what type of rewards you want and which particular card to apply for. Our editors’ picks for the best rewards cards are a good place to start. And if you would like a personalized rewards card recommendation based on your latest credit score, just sign up for a free WalletHub account.

There are three rewards currencies: points, miles and cash back. Rewards credit cards are also targeted to three main groups: students, small business owners and people with above-average credit. And there are two main types of rewards cards: those affiliated with a particular retailer and those with no such ties.
Credit cards that are affiliated with a retailer may either work only at that retailer or provide extra rewards on purchases made from it.
For more information, check out WalletHub’s Credit Card Rewards Guide.