We present a new model to calculate reflection spectra of thin accretion disks in Kerr spacetimes. Our model includes the effect of returning radiation, which is the radiation that is emitted by the disk and returns to the disk because of the strong light bending near a black hole. The major improvement with respect to the existing models is that it calculates the reflection spectrum at every point on the disk by using the actual spectrum of the incident radiation. Assuming a lamppost coronal geometry, we simulate simultaneous observations of NICER and NuSTAR of bright Galactic black holes and we fit the simulated data with the latest version of relxill (modified to read the table of reflionx, which is the nonrelativistic reflection model used in our calculations). We find that relxill with returning radiation cannot fit well the simulated data when the black hole spin parameter is very high and the coronal height and disk’s ionization parameter are low, and some parameters can be significantly overestimated or underestimated. We can find better fits and recover the correct input parameters as the value of the black hole spin parameter decreases and the value of the coronal height increases.