AmEx, Chase, Wells Fargo, HSBC Provide Highest Reward Rates

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Among universal rewards cards, American Express Blue and Green, Chase Freedom, Wells Fargo Visa with Enhanced Rewards, and HSBC Ecosmart offer the most bang for rewards bucks, according to a new report by Corporate Insight Inc. The five cards offer a rate of return of 1% on a $50 rewards redemption, according to the report the New York research firm released Feb. 27. When considering a variety of factors that determine the rate of return on rewards cards, including annual fees, introductory and ongoing annual percentage rates, the return on Bank of America's Accelerated Rewards AmEx card is 0.96%, the report says. The Wachovia Platinum with Possibilities rewards card returns 0.909% in rewards value, and Citi's PremierPass and Diamond Preferred Rewards cards offer a 0.833% rate of return. BofA World Points Platinum offers 0.769% in returns, the Capital One No Hassle card offers 0.75%, and U.S. Bank Select Rewards returns 0.714% on a $50 rewards redemption. The difference between a 1% and 0.714% rate of return may seem inconsequential, according to Corporate Insight, but differences in rewards value can be "quite noticeable after a few thousand dollars are spent on a card," the report notes.