American Express has a huge line-up of rewards credit cards, especially ones that earn Membership Rewards points. I’ve got my criticism of the Membership Rewards program, but the fact is that we should all be diversifying and Membership Rewards is a key part of that. With so many cards paying out Membership Rewards points, it can often get overwhelming for people to pick the right one. I always say you should pick the card that best meets your travel goals. That being said, I thought I’d share my ranking of the top 5 Membership Rewards-earning credit cards:
- Blue Business Plus Card from American Express. The Blue Business Plus Card earns the top spot for a simple reason: 2x Membership Rewards points on all spending. Yes, the 2x is capped at the first $50,000 but the average person isn’t going to spend more than that anyway. The fact that this card has no annual fee sweetens the deal further.
- The Business Platinum Card from American Express OPEN. Why does the Business version of this card win out over the personal? Because it has many of the same perks at a lower annual fee ($450 vs. $550). A lot of people were not amused by the Platinum Card’s $100 annual fee increase in exchange for a $200 annual Uber credit. Paid out in monthly installments, no less! The 5x travel bonus is one of the highest out there and for folks who occasionally make large purchases, the 1.5x payout on purchases of $5,000 can be very lucrative. Plus, cardholders who redeem their Membership Rewards via Pay with Points get up to 35% of their points back (up to 500,000 per calendar year). This is a really a great card for people who want to earn lots of Membership Rewards points. The premium travel perks are a nice bonus!
- Premier Rewards Gold Card from American Express. It was tough choosing between this and the Business Gold Rewards Card from American Express OPEN. Both cards offer lucrative category bonuses. The reason the Premier Rewards card ultimately won out was because the 2 – 3 point bonus categories are most relevant to the average consumer. Cardholders earn 3x points for flights booked directly with the airline and 2x at restaurants, gas stations and grocery stores. Most people will be able to generate tons of miles from these bonuses. Additionally, the $100 airline fee credit issued each calendar year helps make the $195 annual fee (waived the first year) easier to swallow.
- Amex EveryDay Preferred Credit Card from American Express. The Amex EveryDay Preferred Card is perfect for…everyday spending! It earns 3x points at grocery stores (on the first $6,000 spent) and 2x points at U.S. gas stations. Even the 1 point per $1 earned everywhere else isn’t so bad when you factor in the 50% bonus paid out every billing period where you make 30 or more purchases. With a $95 annual fee, this is a great card for people who don’t want to pay an arm and a leg for the privilege of having a Membership Rewards-earning card.
- The Platinum Card from American Express. The Platinum Card from American Express is still a great option for earning Membership Rewards points. Yes, the $550 annual fee sucks if you’re not making use of the $200 annual Uber credit, but you can still earn tons of points through the 5x travel bonus. Personally, I think the Hilton and Starwood Gold benefits are pretty awesome, but the reason I’ve ranked it so low? Other than the 5x travel bonus category, there aren’t really a lot of ways to generate tons of points with this card.
I want your feedback: What are your picks for the 5 best Membership Rewards-earning credit cards?
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