THE BEST REWARDS CARDS FOR YOU

Our top picks offer cash back, points or miles you can use to buy groceries or gas, pay for travel or boost savings.

- LISA GERSTNER

As high inflation rears its head, consumers are looking for ways to offset painful increases in the price of groceries, gas and other budget staples. One strategy is to use a rewards credit card that pays you cash back, points or miles on every purchase you make. In our annual review of the best rewards cards, we’ve found rebates as high as 6% on supermarket spending and 5% on gas. For leisure spending, we’ve uncovered rewards of up to 5% on dining out, travel and shopping. If you want a no-fuss card that pays a solid rate on every purchase, you’ll find options here that offer 2%.

Fortunately, qualifying for a great rewards card is easier than it was a year or two ago, when issuers tightened lending standards in response to the economic disruptions the coronavirus pandemic caused. In the third quarter of 2021, new-card issuance hit a record 20.1 million, a 63% increase from the same period a year earlier, according to credit bureau TransUnion. A credit score of about 670 or higher should put you in the ballpark for card approval, says Ted Rossman, senior industry analyst for CreditCards.com.

Interest rates will be on the rise throughout the year, so it’s as important as ever to avoid carrying a balance from month to month on your credit card—interest payments will stamp out any benefit that you get from rewards. Extended 0% interest introductory windows on balance transfers are making a comeback after dwindling in the pandemic’s aftermath, and issuers are even offering such deals to existing customers, not just new applicants, says Sara Rathner, credit cards expert for NerdWallet. If you’re looking for a card with a low rate rather than ample rewards, see our picks in the box on the facing page.