2024’s Best Credit Card Rewards Programs

September 4, 2024

by The Editors Of The Fox Magazine

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With many Americans seeking extra credit card rewards to help fight back against inflation, WalletHub released its report on 2024’s Best Credit Card Rewards Programs.

61% already think credit card rewards encourage overspending.

You can find highlights from the report, along with survey results and commentary, below.

Key Findings:

Incentivized Overspending: 61% of people think credit card rewards encourage overspending.
Inflated Interest in Rewards: Nearly 4 in 5 people say inflation has made them more interested in earning credit card rewards.
Unfairly Rewarding: More than 2 in 5 Americans think credit card rewards programs are unfair.
Inflation Outpaces Rewards: 65% of Americans think their credit card rewards are not keeping up with inflation.
Opportunistic Bonus Seekers: 35% of Americans apply for a new credit card at least once a year to take advantage of sign-up bonuses.
Love for Companies with Bonus Rewards: 3 in 5 people go out of their way to spend money with companies that give them extra credit card rewards.
It Pays Big to Compare Cards: The best rewards credit cards can yield up to $1,120 more than the worst rewards cards over the first two years.
Best Issuer: Capital One has the best credit card rewards program for the eighth year in a row, earning an average WalletHub score of 92%.

John Kiernan, WalletHub Editor said “The best rewards credit cards can still save you well over $1,000 in just the first two years, if not a whole lot sooner, which could be the difference between a vacation and a staycation this summer. Credit card rewards are also an asset in the fight against inflation, if you choose the right ones. Nearly 4 in 5 people say inflation has made them more interested in earning credit card rewards, according to a new WalletHub survey, yet 65% of people think their credit card rewards are not keeping up with inflation. One of the best ways to make sure your savings are keeping pace is to apply for a card with a big initial bonus. WalletHub’s survey found that 35% of Americans say they apply for a new credit card at least once a year to take advantage of sign-up bonuses.”