Top Ten Credit Cards – October 2016

The following is the October 2016 edition of what we consider the Top 10 credit card products available at the moment. The list is based on a combination of factors, including current welcome bonus offers, daily earning potential, transfer partners and bonus categories, along with the ability to redeem.

The number in parenthesis to the right of each card’s name is last month’s ranking for each card.

1. Chase Sapphire Reserve (1)

Pros:

• Welcome bonus offer of 100,000 Ultimate Rewards points after $4,000 spent in the first three months of account opening.
• Earns 3X points per $1 on travel and dining.
• $300 annual travel credit.
• $100 credit towards Global Entry or TSA PreCheck application fee every five years.
• 50 percent off when you redeem your points through Chase Ultimate Rewards for travel, providing an effective value of 1.5 cents/point.
• Ultimate Rewards points earned transfer on a 1:1 ratio to Chase partners British Airways Executive Club, Singapore KrisFlyer, Korean Air SKYPASS, Southwest Airlines Rapid Rewards, United MileagePlus, Virgin Atlantic Flying Club, Air France/KLM Flying Blue, Hyatt Gold Passport, Marriott/Ritz-Carlton Rewards and IHG Rewards Club.
• No foreign transaction fees.
• Primary Rental Car Insurance.
• Priority Pass Select

Cons

• $4,000 minimum spend requirement to get the welcome bonus.
• Annual fee of $450 that is not waived the first year.

2. Chase Ink Plus Business Card (2)

Pros:

• Welcome bonus offer of 60,000 Ultimate Rewards points after $5,000 spent in the first three months of account opening.
• Earns 5X points per $1 on the first $50,000 spent annually at office supply stores and on cellular phone, landline, Internet and cable TV services; earns 2X points per $1 on the first $50,000 spent annually at gas stations and for hotel accommodations when purchased directly with the hotel.
• 20 percent off when you redeem your points through Chase Ultimate Rewards for travel, providing an effective value of 1.25 cents/point.
• No foreign transaction fees.
• Ultimate Rewards points earned transfer on a 1:1 ratio to Chase partners British Airways Executive Club, Singapore KrisFlyer, Korean Air SKYPASS, Southwest Airlines Rapid Rewards, United MileagePlus, Virgin Atlantic Flying Club, Air France/KLM Flying Blue, Hyatt Gold Passport, Marriott/Ritz-Carlton Rewards and IHG Rewards Club.

Cons

• $5,000 minimum spend requirement to get the welcome bonus.
• Annual fee of $95 that is not waived the first year.
• As this is a business card, you must have a business to apply for this card.

3. Chase Sapphire Preferred Card (3)

	Chase Sapphire Preferred® Card Add to Favorites	$0 intro first year $95 annual fee	Earn 50,000 bonus points when you spend $4,000 on purchases in the first 3 months from account opening. That's $625 in travel when you redeem through Chase Ultimate Rewards® Read Review »
Already have this card? Track it and maximize your rewards.

	Chase Sapphire Preferred® Card
Apply Now Add to Favorites
Sign Up Bonus $0 intro first year $95 annual fee Earn 50,000 bonus points when you spend $4,000 on purchases in the first 3 months from account opening. That's $625 in travel when you redeem through Chase Ultimate Rewards® Annual Fee Already have this card? Maximize your rewards.
Read the FTG Review »

Pros

• Welcome bonus offer of 50,000 Ultimate Rewards points after $4,000 spent in the first three months of account opening. Additionally, you can earn 5,000 bonus Ultimate Rewards points after adding the first authorized user and that user making a purchase with their card within the first three months from account opening.
• Earns 2X points on all travel and dining purchases. Chase’s definition of travel is extremely liberal, extending from hotels and airlines to taxis, Uber, and parking. 20 percent off when you redeem your points through Chase Ultimate Rewards for travel, providing an effective value of 1.25 cents/point. No foreign transaction fees. One of the best looking cards around (made of metal). Ultimate Rewards points earned transfer on a 1:1 ratio to Chase partners British Airways Executive Club, Singapore KrisFlyer, Korean Air SKYPASS, Southwest Airlines Rapid Rewards, United MileagePlus, Virgin Atlantic Flying Club, Air France/KLM Flying Blue, Hyatt Gold Passport, Marriott/Ritz-Carlton Rewards and IHG Rewards Club. Introductory Annual Fee of $0 the first year, then $95.

Cons

• Higher than average minimum spend requirement. (typically we see $3,000 or less)
• $95 annual fee (waived the first year), although it is easily justified through its many benefits.
• Almost impossible to receive approval from Chase if you have applied for more than five credit cards from any bank over the last 24 months.

4. Citi Prestige Card (4)

	Citi Prestige® Card Add to Favorites	$450 first year $450 after first year	40,000 Points After $4,000 in purchases made with your card in the first 3 months the account is open. Read Review »
Already have this card? Track it and maximize your rewards.

	Citi Prestige® Card
Apply Now Add to Favorites
Sign Up Bonus $450 first year $450 after first year 40,000 Points After $4,000 in purchases made with your card in the first 3 months the account is open. Annual Fee Already have this card? Maximize your rewards.
Read the FTG Review »

Pros

• 40,000 ThankYou Points after $4,000 spent in the first three months of account opening.
• Earn 3X points on air travel and hotel purchases.
• Earn 2X points on dining and entertainment purchases.
• ThankYou Points earned from the Citi Prestige Card can be transferred on a 1:1 ratio to Citi’s transfer partners Cathay Pacific Asia Miles, Garuda Indonesia Frequent Flyer, Singapore Airlines KrisFlyer, EVA Air Infinity MileageLands, Malaysia Airlines Enrich, Thai Airways Royal Orchid Plus, Etihad Etihad Guest, Qantas Frequent Flyer, Virgin America Elevate, Virgin Atlantic Flying Club, Air France/KLM Flying Blue, Qatar Airways Privilege Club and Hilton HHonors.
• ThankYou Points earned from the Citi Prestige Card can be applied toward airfare at 1.6 cents per dollar (60 percent more value) on flights with American Airlines and at 1.33 cents per dollar (33 percent more value) on flights with all other airlines.
• $250 air travel credit each year, which can be used for any airline related purchase including airfare across any airline.
• Complimentary fourth night for any hotel stay.
• Complimentary access to over 50 American Airlines Admirals Club lounges, plus hundreds of VIP lounges through Priority Pass Select.
• $100 Global Entry application fee credit every five years.
• No foreign transaction fees. Access to the MasterCard Airport Concierge service.

Cons

• High annual fee of $450 (not waived the first year), although it is quite easy to mitigate this fee.
• Less than ideal travel transfer partners.

5. CitiBusiness / AAdvantage Platinum Select World MasterCard (7)

Pros

• 50,000 Bonus AAdvantage miles after you spend $3,000 within the first three months of card membership.
• First checked bag on domestic AA flights is complimentary.
• Group 1 boarding on domestic AA flights.
• Spend $30,000 in a calendar year on the card and earn an AA companion certificate.
• $95 annual fee waived for the first 12 months of card membership

Cons

• This is a business credit card so you must have an eligible business to apply.
• American’s award chart recently went through a devaluation — check current charts to understand updated pricing.

6. Marriott Rewards Premier Credit Card (N/A)

Pros

• 80,000 Bonus points after you spend $3,000 on purchases in your first 3 months from your account opening.
• Receive a free night stay in a Category 1-5 hotel each year after your account anniversary.
• Receive 15 Elite credits after account opening and every year after your account anniversary, giving you guaranteed Silver Elite status every year.
• Every $3,000 you spend on purchases earns you 1 additional credit toward Elite status – with no limit to the number of credits you can earn.
• Earn 5 points for every $1 spent at over Marriott locations worldwide.
• Earn 2 points for every $1 spent on airline tickets purchased directly with the airline, and at car rental agencies & restaurants.
• Marriott points convert to Starwood at a 3:1 ratio, so this sign-up bonus equals at least 26,667 SPG points.
• No foreign transaction fees.

Cons

• $85 annual fee (waived the first year)
• Marriott has an inflated award chart, so points may not go very far in the Marriott Rewards program.
• The future of Marriott Rewards is uncertain with the merger, so this may not be a great card for long-term use.

7. Starwood Preferred Guest Business Credit Card from American Express (5)

	Starwood Preferred Guest® Business Credit Card from American Express Add to Favorites	$0 first year $95 after first year	Earn 2 free nights at participating SPG® Category 1-5 hotels & resorts worldwide After you use your new Card to make $5,000 in purchases within the first 3 months. Read Review »
Already have this card? Track it and maximize your rewards.

	Starwood Preferred Guest® Business Credit Card from American Express
Apply Now Add to Favorites
Sign Up Bonus $0 first year $95 after first year Earn 2 free nights at participating SPG® Category 1-5 hotels & resorts worldwide After you use your new Card to make $5,000 in purchases within the first 3 months. Annual Fee Already have this card? Maximize your rewards.
Read the FTG Review »

Pros

• Earn 2 free nights at participating SPG Category 1-5 hotels & resorts worldwide After you use your new Card to make $5,000 in purchases within the first 3 months.
• Earns 2X Starpoints per $1 spent on the card for each dollar of eligible purchases charged directly with hotels and resorts participating in the Starwood Preferred Guest program.
• Provides two stays and five nights elite credit each year toward SPG Gold and Platinum Elite status.
• Starpoints earned can be transferred mostly on a 1:1 ratio to SPG’s transfer partners, which include many of the world’s top airlines.
• For every 20,000 Starpoints that you transfer to one of SPG’s airline partners, you get an additional 5,000 points or miles bonus, which makes this one of the best cards to use for purchases that do not earn additional bonus points.
• Earn SPG Gold status after spending $30,000 or more in eligible purchases on the card in a calendar year.
• Provides complimentary unlimited Boingo Wi-Fi and access to Sheraton Club Lounge when staying at Sheraton hotel.
• Eligible for Amex OPEN Savings benefit.
• No foreign transaction fees.

Cons

• $95 annual fee (waived the first year).
• No bonus categories outside of Starwood hotel stays.
• 2 free nights as a sign-up bonus means less flexibility in redeeming points.

8. Starwood Preferred Guest Credit Card from American Express (6)

	Starwood Preferred Guest® Credit Card from American Express Add to Favorites	$0 first year $95 after first year	25,000 Bonus Starpoints® After you use your new Card to make $3,000 in purchases within the first 3 months Read Review »
Already have this card? Track it and maximize your rewards.

	Starwood Preferred Guest® Credit Card from American Express
Apply Now Add to Favorites
Sign Up Bonus $0 first year $95 after first year 25,000 Bonus Starpoints® After you use your new Card to make $3,000 in purchases within the first 3 months Annual Fee Already have this card? Maximize your rewards.
Read the FTG Review »

Pros

• Welcome bonus offer of 25,000 Starpoints after $3,000 are spent in purchases within the first three months.
• Earns 2X Starpoints per $1 spent on the card for each dollar of eligible purchases charged directly with hotels and resorts participating in the Starwood Preferred Guest program.
• Provides two stays and five nights elite credit each year toward SPG Gold and Platinum Elite status.
• Starpoints earned can be transferred mostly on a 1:1 ratio to SPG’s transfer partners, which include many of the world’s top airlines.
• For every 20,000 Starpoints that you transfer to one of SPG’s airline partners, you get an additional 5,000 points or miles bonus, which makes this one of the best cards to use for purchases that do not earn bonus points.
• Provides complimentary unlimited Boingo Wi-Fi.
• No foreign transaction fees.

Cons

• $95 annual fee (waived the first year).
• No bonus categories outside of Starwood hotel stays.

9. Barclaycard Arrival Plus World Elite MasterCard (9)

	Barclaycard Arrival Plus™ World Elite MasterCard® Add to Favorites	$0 first year $89 after first year	50,000 bonus miles When you spend $3,000 on purchases in the first 90 days Read Review »
Already have this card? Track it and maximize your rewards.

	Barclaycard Arrival Plus™ World Elite MasterCard®
Apply Now Add to Favorites
Sign Up Bonus $0 first year $89 after first year 50,000 bonus miles When you spend $3,000 on purchases in the first 90 days Annual Fee Already have this card? Maximize your rewards.
Read the FTG Review »

Pros

• 50,000 bonus “miles” after you spend $3,000 within the first 90 days of card membership.
• Earn 2x “miles” on all purchases.
• Get 5% miles back to use toward travel redemptions.
• Covers almost any type of travel-related expense including Airbnb.
• Issued by Barclays Bank, allowing you to diversify your credit portfolio with another financial institution.
• No foreign transaction fees.

Cons

• The “miles” that this card earns are not airline miles. They’re effectively valued at one mile equals one penny when redeeming for travel so 10,000 miles converts to $100. Don’t be confused by quality marketing.
• $89 Annual fee. While it is waived the first year, after the first year of card membership you’re likely better sticking with a 2 percent cash back credit card that has no annual fee such as the Citi Double Cash.

10. The Hyatt Credit Card (10)

	The Hyatt Credit Card Add to Favorites	$0 intro first year $75 annual fee	2 free nights at any Hyatt property After spending $1,000 within the first 3 months Read Review »
Already have this card? Track it and maximize your rewards.
The information for the The Hyatt Credit Card has been collected independently by FTG. The card details on this page have not been reviewed or provided by the card issuer.

	The Hyatt Credit Card
Read Review Add to Favorites
Sign Up Bonus $0 intro first year $75 annual fee 2 free nights at any Hyatt property After spending $1,000 within the first 3 months Annual Fee Already have this card? Maximize your rewards.
Read the FTG Review »
The information for the The Hyatt Credit Card has been collected independently by FTG. The card details on this page have not been reviewed or provided by the card issuer.

Pros

• Welcome bonus offer of two free nights at any Hyatt property worldwide after you spend $1,000 in purchases on the card in the first three months after account opening.
• 5,000 bonus points when you add an authorized user to your account and make a purchase with your card during the first three months as a card member.
• Provides Hyatt Platinum status as long as you’re a cardmember. Hyatt Platinum benefits include a 15 percent point bonus on eligible spend, complimentary in-room Internet, a 72-hour room guarantee, expedited check-in and a preferred reservation line.
• Earns 3X points per $1 spent at all Hyatt properties,2X points per $1 spent at restaurants, on airline tickets purchased directly from the airline and at car rental agencies.
• No foreign transaction fees.
• One free night certificate every year after your cardmember anniversary at any Category 1-4 property.
• Relatively low annual fee of $75 (waived in the first year), which can be easily offset by anniversary night certificate.
• Earn two stay credits and five-night credits toward Diamond status upon spending $20,000 in each calendar year.
• Earn an additional three stay credits and five-night credits toward Diamond status upon spending $40,000 in each calendar year.

Cons

• To get the best value out of this card you need to plan to redeem your free nights at a high-end Hyatt property.

Removed from last month’s rankings: Spark Cash from Capital One

Added to this month’s rankings: Marriott Rewards Premier Credit Card

What are you applying for this month?

[Image via Getty]