What are the Top 10 Reward Credit Cards for 2016?

As an expert in credit cards, I am happy to provide an in-depth answer to the question, "What are the Top 10 Reward Credit Cards for 2016?" In this article, I will discuss the top 10 reward credit cards for 2016 and provide some tips on applying for credit cards, saving money with credit cards, annual fees and risk avoidance, and recommended credit card companies.

1. Chase Sapphire Preferred

The Chase Sapphire Preferred card offers a sign-up bonus of 50,000 points after you spend $4,000 in the first three months of opening your account. You can also earn 2X points on travel and dining and 1X points on all other purchases. The annual fee is $95, but it's waived for the first year.

2. Capital One Venture Rewards

The Capital One Venture Rewards card offers a sign-up bonus of 40,000 miles after spending $3,000 in the first three months of opening your account. You can earn 2X miles on every purchase, and there's no limit to how many miles you can earn. The annual fee is $95, but it's waived for the first year.

3. Discover it Cashback Match

The Discover it Cashback Match card offers 5% cashback on rotating categories each quarter, and 1% cashback on all other purchases. Discover will also match all the cashback you earn at the end of your first year. There's no annual fee for this card.

4. American Express Blue Cash Preferred

The American Express Blue Cash Preferred card offers a $200 statement credit after spending $1,000 in the first three months of opening your account. You can earn 6% cashback at supermarkets, 3% cashback at gas stations and department stores, and 1% cashback on all other purchases. The annual fee is $95.

5. Citi Double Cash

The Citi Double Cash card offers 1% cashback on all purchases, and an additional 1% cashback when you pay off those purchases. There's no limit to how much cashback you can earn, and there's no annual fee for this card.

6. Bank of America Cash Rewards

The Bank of America Cash Rewards card offers a $150 cashback bonus after spending $500 in the first 90 days of opening your account. You can earn 3% cashback on gas, 2% cashback at grocery stores and wholesale clubs, and 1% cashback on all other purchases. There's no annual fee for this card.

7. Barclaycard Arrival Plus World Elite Mastercard

The Barclaycard Arrival Plus World Elite Mastercard offers a sign-up bonus of 50,000 miles after spending $3,000 in the first 90 days of opening your account. You can earn 2X miles on all purchases, and there's no limit to how many miles you can earn. The annual fee is $89, but it's waived for the first year.

8. Chase Freedom Unlimited

The Chase Freedom Unlimited card offers a sign-up bonus of $150 after spending $500 in the first three months of opening your account. You can earn 1.5% cashback on all purchases, and there's no annual fee for this card.

9. Wells Fargo Cash Wise Visa

The Wells Fargo Cash Wise Visa offers a $200 cashback bonus after spending $1,000 in the first three months of opening your account. You can earn 1.5% cashback on all purchases, and there's no annual fee for this card.

10. Amazon Rewards Visa

The Amazon Rewards Visa offers a $50 Amazon gift card upon approval. You can earn 3% cashback on Amazon.com purchases, 2% cashback at restaurants, gas stations, and drugstores, and 1% cashback on all other purchases. There's no annual fee for this card.

Applying for Credit Cards

When applying for credit cards, make sure you meet the credit score requirements and have a good credit history. Don't apply for too many credit cards at once, as this can hurt your credit score. Also, make sure you read the fine print and understand the rewards program, annual fees, and interest rates.

Saving Money with Credit Cards

To save money with credit cards, use them to make purchases you would make anyway and pay off your balances in full each month to avoid interest charges. Take advantage of sign-up bonuses and rewards programs to earn cashback, points, or miles.

Annual Fees and Risk Avoidance

Some credit cards have annual fees, but they may be worth it if you can earn enough rewards to offset the fee. To avoid risks, make sure you pay your bills on time, keep your balances low, and monitor your credit reports regularly.

Recommended Credit Card Companies

Some of the best credit card companies include Chase, Capital One, Discover, American Express, Citi, and Barclaycard. They offer a variety of rewards programs, excellent customer service, and user-friendly mobile apps.

In conclusion, the top 10 reward credit cards for 2016 offer a variety of cashback, points, and miles programs. When applying for credit cards, make sure you read the fine print and understand the rewards program, annual fees, and interest rates. To save money with credit cards, use them to make purchases you would make anyway and pay off your balances in full each month. To avoid risks, make sure you pay your bills on time, keep your balances low, and monitor your credit reports regularly. Finally, recommended credit card companies include Chase, Capital One, Discover, American Express, Citi, and Barclaycard.