Money Matters - Tariffs and Credit Card Rewards

With the busy summer travel season starting and many Americans seeking extra credit card rewards to help fight back against inflation and tariffs, WalletHub today released its report on 2025’s Best Credit Card Rewards Programs, along with a nationally representative consumer survey gauging people’s opinions on all things rewards. You can find highlights from the report, along with survey results and commentary, below.

Key Findings:

• Best Rewards Program: Wells Fargo has the best credit card rewards program of 2025, earning an average WalletHub score of 93%.
   
• Tariffs Boost Rewards Interest: Nearly half of Americans say tariffs have made them more interested in earning credit card rewards.
   
• Cash Back Is the Clear Favorite: 82% of people say cash back is the best kind of credit card reward, topping airline miles (7%), hotel points (6%), and gas (5%) by a wide margin.
   
• Pity for Non-Earners: 45% of Americans feel sorry for people who don’t earn credit card rewards on purchases.
   
• Inflation Outpaces Rewards: 65% of Americans think their credit card rewards are not keeping up with inflation.
   
• Problematic Perks: Nearly 2 in 5 Americans think credit card rewards programs are unfair.
   
• Lack of Variety: 44% of people think that all credit cards have pretty much the same rewards.
   
• It Pays Big to Compare Cards: The best rewards credit cards can yield up to $933 more than the worst rewards cards over the first two years.

 

“The financial turmoil from recent months is pushing consumers to embrace credit card rewards – especially cash back – with renewed fervor. Nearly half of Americans report that tariffs have increased their interest in rewards, according to a new WalletHub survey, and 82% of people now say that cash back is the best type of rewards, after travel rewards got much of the spotlight over the past few years.

Many people even go as far as to say they pity fellow consumers who aren’t earning credit card rewards. After all, the ability to save 1% to 5%+ on every purchase can help you effectively roll back recent price hikes. But you can’t just pick any old rewards card and expect to maximize your savings. The best rewards cards can save you nearly $1,000 more than the worst cards in just a couple years. The key is to pick a card whose credit score requirement you can meet that offers bonus rewards in your top spending categories or a flat rewards rate for all purchases.”

- John Kiernan, WalletHub Editor

 


More From WalletHub

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• Best Travel Credit Cards
• Best Hotel Rewards Programs
• Best Frequent Flyer Programs