While the credit crunch has led a number of banks to drastically and oftentimes unfairly change key credit card terms, such as interest rates and credit limits, the drastic changes made to many credit card rewards programs has slipped under the radar. Over the past three years, credit card companies have sharply reduced the value of rewards programs.

This trend is most evident with cash back rewards credit cards. A few years ago, the best cash back rewards cards offered 5% on gas and groceries. However, smart credit card users outwitted the credit card companies, using their credit cards only in places that would get them the best rewards.

Consequently, the best rewards credit cards today are not nearly as good as they were two years ago. However, there are still good rewards credit cards deals to be found.

In order to come up with our selection of the best rewards credit cards, we eliminated all cards that charge an annual fee because annual fees eat up what can be a substantial portion of yearly awards, especially for those who don't spend $20,000 to $30,000 a year with their credit cards. The remaining offers have been broken into categories. You can compare these offers below and apply online via secure application links.

Best Miles Reward Credit Cards

CAPITAL ONE® VENTUREONE(SM) REWARDS CREDIT CARD

1.25 miles per dollar on every purchase, every day Earn 10,000 bonus miles, equal to $100 in travel Redeem miles for airline tickets, hotel rooms, car rentals and more No limit on the miles you can earn and miles won't expire Fly free on any airline, any time with no blackout dates 0% intro APR on purchases until February 2013* No foreign transaction fees No annual fee To apply online click the Apply Now button or call 1-866-960-8708

Intro APR on Purchases Intro APR on Transfers Regular APR Annual Fee Credit Needed 0% until February 2013* n/a 11.9%-19.9%(V)* None Excellent

MILES BY DISCOVER® CARD

Earn up to $120 in travel rewards--1,000 Bonus miles every month you make a purchase for the first year 1 Mile on every $1 you spend - Plus flexible redemption options like travel credits, merchandise, gift cards or cash 0% intro APR on purchases and balance transfers for 6 months, then the variable standard purchase APR of 10.99% - 16.99%* No restrictions on travel--fly on any airline, book any hotel or car, with no blackout dates Travel benefits include secondary collision damage insurance when you rent a car with your Miles by Discover card Discover is ranked #1 in customer loyalty--15 years in a row! (2011 Brand Keys Customer Loyalty Engagement Index report) Great rewards with no annual fee, no rewards redemption fee, and no additional card fee *Click apply to view rates, fees, rewards, limitations and other important information

Intro APR on Purchases Intro APR on Transfers Regular APR Annual Fee Credit Needed 0% for 6 Months* 0% for 6 Months* 10.99%-16.99% (Variable)* None Good

CAPITAL ONE® VENTURE(SM) REWARDS

Money® Magazine's \"Most Rewarding Card if you crave free airline flights\" 2 miles per dollar on every purchase, every day Earn 10,000 bonus miles, equal to $100 in travel Redeem your miles for ANY travel expense No limit on the miles you can earn and miles won't expire Fly free on any airline, any time with no blackout dates No foreign transaction fees $0 intro annual fee for the first year; $59 after that To apply online click the Apply Now button or call 1-866-960-8708

Intro APR on Purchases Intro APR on Transfers Regular APR Annual Fee Credit Needed n/a n/a 11.9%-19.9%(V)* $0 intro for first year; $59 after that Excellent

Best  Cash Back Reward Credit Cards

CHASE FREEDOM® VISA - $200 BONUS CASH BACK

This offer is for people with a good to excellent credit history which means, among other things. Your credit history is clear of bankruptcy and seriously deliquent accounts Earn $200 Bonus Cash Back after you make $500 in purchases in your first 3 months 5% Cash Back on up to $1,500 spent at gas stations and on Amazon.com from 1/1/12 - 3/31/12. You'll enjoy new 5% categories every 3 months like grocery stores, restaurants and even airlines. It's free and easy to activate your bonus each quarter! Unlimited 1% Cash Back on all other purchases Up to an additional 10% Cash Back when you shop online at select merchants through Chase No annual fee and rewards never expire

Intro APR on Purchases Intro APR on Transfers Regular APR Annual Fee Credit Needed N/A N/A 15.99%-22.99% (Variable)* None Excellent

CITI® DIVIDEND PLATINUM SELECT® VISA® CARD - $100 CASH BACK

$100 cash back after $500 in purchases within the first 3 months of account opening. 0% Intro APR on Balance Transfers and Purchases for 12 months. After that, the APR will be 12.99%-22.99% based on your creditworthiness*. This APR will vary with the market based on the Prime Rate. 5% cash back on fitness club, health care, and utilities purchases from 1/1/2012 to 3/31/2012 upon enrollment. Each quarter, you can enroll to earn additional cash back in popular categories. To learn more, visit dividend.quarterlyoffer.citi.com. Full 1% cash back on all other purchases and eligible cash advances No Annual Fee*

Intro APR on Purchases Intro APR on Transfers Regular APR Annual Fee Credit Needed 0% for 12 Months* 0% for 12 Months* 12.99-22.99% Variable* None Good

BANKAMERICARD CASH REWARDS™ VISA SIGNATURE® CARD

Earn 1% cash back on every purchase, 2% cash back on groceries and 3% cash back on gas. Quarterly maximum applies to bonus rewards on grocery and gas purchases. (See T&Cs for details) Receive a 10% customer bonus when you redeem rewards into a Bank of America checking or savings account. Earn a $50 cash back bonus after qualifying purchase(s) Redeem rewards for a check, statement credit, direct deposit to a checking or savings account Get redemptions starting at $25, with the capability to set up automatic redemption Rewards don't expire No Annual Fee*

Intro APR on Purchases Intro APR on Transfers Regular APR Annual Fee Credit Needed 0% for Purchases* for 12 billing cycles* N/A* 12.99% - 20.99% (V) Purchases & Balance Transfers * None* * Excellent

CHASE FREEDOM® VISA - $100 BONUS CASH BACK

This offer is for people with a good to excellent credit history which means, among other things, that your credit history is clear of bankruptcy and seriously delinquent accounts Earn $100 Bonus Cash Back after you make $500 in purchases in your first 3 months 0% Intro APR for 12 months on balance transfers and 6 months on purchases 5% Cash Back on up to $1,500 spent at gas stations and on Amazon.com from 1/1/12 - 3/31/12. You'll enjoy new 5% categories every 3 months like grocery stores, restaurants and even airlines. It's free and easy to activate your bonus each quarter! Unlimited 1% Cash Back on all other purchases without limits on what you can earn and up to an additional 10% Cash Back when you shop online at select merchants through Chase No annual fee and rewards never expire

Intro APR on Purchases Intro APR on Transfers Regular APR Annual Fee Credit Needed 0% for 6 Months 0% for 12 Months 11.99-22.99% Variable* None Excellent