The best credit cards to turn rewards from everyday spending into investments

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The best credit cards for investing rewards in 2021:

Category

Best card

Best card for Fidelity:

Fidelity® Rewards Visa Signature® Credit Card

Best for Charles Schwab:

Schwab Investor Card® from American Express

Best for cash back on all purchases:

Citi® Double Cash Card

Best for high cash back in rotating categories:

Chase Freedom Flex℠

Best for cryptocurrency:

Crypto.com Credit Card

Best store card for investing:

Amazon Prime Rewards Visa Signature Card

Best for foodies:

Capital One® Savor® Cash Rewards Credit Card

Best for college investing:

Upromise® Mastercard®

Best for flat-rate cash back rewards:

PayPal Cashback Mastercard®

If you’re financially savvy and want to turn your credit card rewards into investments, there’s likely a card (or two) that can help you maximize your return. Whether you’re investing for retirement, college, or building up a cryptocurrency account, you can choose between several cards made just for your goals.

To earn the most rewards for every dollar you spend, you may want an investment-specific credit card or a general cash-back rewards card. Either gives you rewards that can flow into your investment account to buy stocks, bonds, funds, or anything else your favorite brokerage supports.

We’re focused here on the rewards and perks that come with each card. These cards won’t be worth it if you’re paying interest or late fees. When using a credit card, it’s important to pay your balance in full each month, make payments on time, and only spend what you can afford to pay.

Best card for Fidelity: Fidelity® Rewards Visa Signature® Credit Card

Fidelity® Rewards Visa Signature® Card

Fidelity® Fidelity® Rewards Visa Signature® Card

The card gives you an unlimited 2% cash back on all purchases with no limits to what you can earn. Every dollar you spend earns 2 rewards points, worth 1 cent each when redeemed into a Fidelity account. You can fund your account, a family member’s account, or a combination of up to five accounts.

Best for Charles Schwab: Schwab Investor Card® from American Express

Charles Schwab offers two co-branded cards in partnership with American Express. If you want to turn credit card rewards into investments, the best choice is the no-annual-fee Schwab Investor Card® from American Express. This card earns unlimited 1.5% cash back on all purchases, deposited directly into your linked Schwab account. 

New cardholders can start with a $100 statement credit after spending $1,000 on purchases in the first three months of account opening. There’s also a 0% introductory APR on purchases for the first six months (then a 13.99% to 16.99% variable APR).

Keep in mind the Schwab Investor Card doesn’t have the same bells and whistles as the American Express Platinum Card® for Schwab, but the Platinum version doesn’t fund your investment account and requires a high annual fee. That’s why we picked the Schwab Investor Card for those looking to increase their investment balances.

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Best for high cash back in rotating categories: Chase Freedom Flex℠

Chase Freedom Flex℠

Chase Chase Freedom Flex℠

You’ll also earn 5% back on travel booked through Chase, 3% back on dining and at drugstores, and 1% back on everything else. There’s no annual fee, and the card includes valuable travel and purchase protections like trip cancellation and interruption insurance, extended warranty, and cell phone protection.

Best for cash back on all purchases: Citi® Double Cash Card

Citi® Double Cash Card

Citi Citi® Double Cash Card

While the Citi® Double Cash Card doesn’t currently offer a welcome bonus, it does come with an introductory 0% APR on balance transfers for the first 18 months, then 13.99% – 23.99% (Variable). Once you have at least $25 in rewards, you can redeem your cash back for a check, a statement credit, or a credit to your linked account.

Best for cryptocurrency: Crypto.com Credit Card

Bitcoin, Ether, and other cryptocurrency coins are all the rage. If you want to turn credit card swipes and other purchases into crypto rewards, the Crypto.com card is a good choice. This card comes in five versions and can be a little complicated for those without a cryptocurrency background.

If you have this card and a large balance of CRO (Crypto.com’s own currency) in your account for at least six months, you can qualify for a growing cash-back rate. With no balance, you earn a flat 1%. With a sizeable $400,000 balance, you earn a massive 8% back rewards rate on all purchases.

There are other versions between paying 2%, 3%, or 5% for different balance tiers. Higher-tier cards also reimburse you for purchases at popular merchants like Spotify, Netflix, and an Amazon Prime membership. Rewards are paid in CRO, which you can keep or convert into another coin through a Crypto.com account.

Best store card for investing: Amazon Prime Rewards Visa Signature Card

Amazon Prime Rewards Visa Signature Card

Chase Amazon Prime Rewards Visa Signature Card

New cardholders earn an Amazon gift card on approval to treat themselves to something fun. Instead of 5% back on Amazon purchases, you can choose a 0% APR for up to 18 months on purchases of $50 or more. However, you may want to keep every cent of cash back to fund your investment account. 

Best for foodies: Capital One® Savor® Cash Rewards Credit Card

Capital One® Savor® Cash Rewards Credit Card

Capital One Capital One® Savor® Cash Rewards Credit Card

New cardholders can start with a $150 bonus after spending $500 on purchases in the first 90 days of account opening. The Upromise® Mastercard® also includes a round-up feature that can help you earn rewards faster than the standard rate. This card is best for people who link it to an eligible 529 college savings plan and will invest for their child’s, grandchild’s, or even their own education.

Best for flat-rate cash back with crypto capability: PayPal Cashback Mastercard®

If you just want a plain and simple cash-back rewards card that allows you to easily send rewards to any brokerage, the PayPal Cashback Mastercard® is another solid option. Not only does it offer 2% cash back and a useful set of benefits, but you can also use your PayPal account to purchase and hold certain cryptocurrencies directly.

Supported cryptocurrencies include bitcoin, ethereum, litecoin, and bitcoin cash. Or you can transfer the funds to any linked bank or brokerage to invest however you’d like. This card has no annual fee and requires you to cash out to a PayPal account. But as anyone who has used PayPal knows, it works almost like a bank and makes it easy to send your funds to any account you own, even internationally.

Frequently asked questions — investment credit cards

How did we choose the best credit cards for investing?

To pick the best credit cards for investing, we looked at dozens of credit cards, including brokerage, cash-back, and cryptocurrency reward credit cards. We picked cards that offered the best rewards rates with reasonable annual fees for the rewards or no annual fee at all.

Every card here allows you to turn your rewards into investments in some form, including stocks, bonds, funds, and cryptocurrencies.

How do brokerage accounts work?

If you are new to investing, you will need a brokerage account to invest. Brokerage accounts are like bank accounts, but they can hold both cash and investment assets. You can fund a brokerage account from linked bank or investment accounts or with credit card rewards in some cases.

Learn more about the best brokerage accounts and how to get started investing in stocks here»

How do I use cash-back rewards for investments?

You can turn cash-back rewards into investments no matter what cash-back credit card you use. As long as the card allows you to withdraw funds into a bank account or check, you can deposit those funds into a brokerage account.

Once the funds are in a brokerage account, you can use them to buy stocks, bonds, or other investments supported by your brokerage.

Eric Rosenberg is a finance, travel, and technology writer in Ventura, California. He has in-depth experience writing about banking, credit cards, investing, and other financial topics, and is an avid travel hacker.

Chase Chase Sapphire Preferred® CardChase Marriott Bonvoy Boundless™ Credit CardChase Chase Freedom Unlimited®

Disclosure: This post is brought to you by the Personal Finance Insider team. We occasionally highlight financial products and services that can help you make smarter decisions with your money. We do not give investment advice or encourage you to adopt a certain investment strategy. If you take action based on one of our recommendations, we get a small share of the revenue from our commerce partners. This does not influence whether we feature a financial product or service. We operate independently from our advertising sales team.

Please note: While the offers mentioned above are accurate at the time of publication, they’re subject to change at any time and may have changed, or may no longer be available.

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