Best credit cards for big spenders

If you are a big spender, the best credit card for you might be one that offers tiered reward rates based on spending level. That is, they pay larger cash-back percentages once you reach an annual spending threshold.

Seven credit cards offer tiered reward rates. For instance, the Capital One No Hassle Cash Rewards Credit Card for excellent credit gives you 3 percent cash back on gas and grocery purchases after spending $6,000 per year. Until you hit that threshold, you'd earn the standard 1 percent cash-back rate.

Blue Cash from American Express offers the biggest possible return. After $6,500 in spending, the rebate percentage for "everyday purchases" jumps to 5 percent from 1 percent, and the cash-back rate for all other purchases goes from 0.5 percent to 1.25 percent. You'd have to spend almost $1,100 a month to reach the higher cash-back rate mid-year.

Not all reward tiers go higher than the 1 percent baseline. With the Discover Motiva Card, you would start earning 1 percent cash back after $3,000 in total annual purchases, but until then you would make 0.25 percent back.

To determine if these credit cards make sense, figure out how long it would take you to earn the higher return rate using your typical monthly balance. If you can't hit the threshold quickly without an increase in spending, consider other no-fee cards that offer at least 1 percent cash back.

Source: Bankrate.com