Depending on your individual financial objectives and circumstances, the “best credit cards” might take many different shapes.
A cash-back credit card or rewards credit card is probably what you want if you have solid credit and want to earn as much cash back and other benefits as you can. Balance transfer credit card or a credit card with an introductory APR can help you avoid interest costs as you pay off your debt if you have credit card debt that you’d like to get rid of as soon as possible. Otherwise, you could want to search for the best credit card to begin establishing your credit, safeguard your online transactions, or improve your vacation experience.
The four credit cards that are the most often used for a variety of common financial purposes are reviewed here.
4 Best Credit Cards
1. Best overall credit card
CARD HIGHLIGHTS
- Intro Offer: Earn a $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months
- APR: 17.24%, 22.24%, or 27.24% Variable APR
- Intro Purchase APR: 0% intro APR for 15 months from account opening
- Recommended Credit: Excellent, Good
- Reward Rates
- Earn unlimited 2% cash rewards on purchases
- Annual Fee :$0
- Intro Balance Transfer APR: 0% intro APR for 15 months from account opening on qualifying balance transfers
- Balance Transfer APR: 17.24%, 22.24%, or 27.24% Variable APR
- Balance Transfer Fee: up to 5%; min: $5
- Foreign Transaction Fees: 3%
- Penalty APR: None
- Earn unlimited 2% cash rewards on purchases
Our Take
The Wells Fargo Active Cash Card has the most advantageous features overall for the majority of people. This card is easy to use and requires little maintenance because there is no yearly fee. The cash rewards rate of 2% on all of your transactions is competitive: While it may not be the greatest rate available for some key purchase categories, like as food and gas, it offers you one of the best rates on more specialised expenditure categories, such as services, bills, and online shopping. The welcome offer offers one of the best spending-to-rewards ratios, and the introductory APR allows you the option to finance a sizable purchase or to avoid interest charges with a qualified balance transfer.
2. Best card for 0% intro APR for purchases and balance transfers
CARD HIGHLIGHTS
- Intro Offer: N/A
- APR: 16.74% – 26.74% (Variable)
- Intro Purchase APR: 0% for 20 billing cycles on purchases
- Recommended Credit: Good/Excellent
- Reward Rates: N/A
- Annual Fee: $0
- Intro Balance Transfer APR: 0% for 20 billing cycles on balance transfers
- Balance Transfer APR: 16.74% – 26.74% (Variable)
- Balance Transfer Fee: Either 3% of the amount of each transfer or $5 minimum, whichever is greater
- Foreign Transaction Fees: 2% of each foreign purchase transaction or foreign ATM advance transaction in U.S. Dollars. 3% of each foreign purchase transaction or foreign ATM advance transaction in a Foreign Currency
Our Take
With 20 payment cycles at 0% introductory APR for purchases and balance transfers (and 16.74% to 26.74% variable APR after that), the U.S. Bank Visa Platinum Card dominates the competition. This is a low-maintenance choice even though there is no sign-up bonus or rewards programme, as there is also no annual cost.
This card is ideal if you want to extend your interest-free period or are making a sizable purchase, but it’s also a great emergency credit card in case you need to cover a sizable bill at the last minute. You will only have access to the 0% introductory rate for a shorter amount of time with other 0% APR credit cards for purchases and balance transfers, but you may also be eligible for additional perks and prizes.
3. Travel rewards card
CARD HIGHLIGHTS
- Intro Offer: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 when you redeem through Chase Ultimate Rewards®.
- APR: 18.24% – 25.24% Variable
- Intro Purchase APR: N/A
- Recommended Credit: Excellent/Good
- Reward Rates
- 5x on travel purchased through Chase Ultimate Rewards®
- 3x on dining.
- 2x on all other travel purchases, plus more.
- Balance Transfer APR: 18.24% – 25.24% Variable
- Balance Transfer Fee: Either $5 or 5% of the amount of each transfer, whichever is greater.
- Foreign Transaction Fees: $0
- Penalty APR: Up to 29.99%
- 5x on travel purchased through Chase Ultimate Rewards®
- 3x on dining.
- 2x on all other travel purchases, plus more.
Our Take
Possibly the best travel credit card available is the Chase Sapphire Preferred® Card. Its rewards programme is difficult to match because it includes regular categories and offers affordable travel. When used for statement credit, points are worth $0.01, but when used for travel through Chase Ultimate Rewards, their value is increased by 25%. When you spend $4,000 on purchases during the first three months of opening your account, you’ll receive 60,000 bonus points, which are worth $750 toward travel booked through Chase Ultimate Rewards.
You also receive a tonne of benefits relating to travel. A one-to-one point transfer with airline and hotel partners, luggage delay insurance, trip delay insurance, and trip cancellation/interruption insurance are all included. There are also no international transaction costs. Together, this is an exceptional deal for a $95 annual cost.
4. Unlimited Cashback Match at the end of your first year
CARD HIGHLIGHTS
- Intro Offer: Intro Offer: Unlimited Cashback Match – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year. There’s no minimum spending or maximum rewards. You could turn $150 cash back into $300.
- APR: 14.24% – 25.24% Variable
- Intro Purchase APR: 0% for 15 months
- Recommended Credit: Good/Excellent
- Reward Rates
- Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate.
- Earn 1% unlimited cash back on all other purchases – automatically.
ADDITIONAL DETAILS
- Intro Balance Transfer APR: 0% for 15 months
- Balance Transfer APR: 14.24% – 25.24% Variable
- Balance Transfer Fee: 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms)*
- Late Payment Fee: None the first time you pay late. After that, up to $41.
- Foreign Transaction Fees: None
REWARDS & REDEMPTION DETAILS
- Earn 5% cash back on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations and when you pay using PayPal, up to the quarterly maximum when you activate.
- Earn 1% unlimited cash back on all other purchases – automatically.
Our Take
A special welcome incentive from Discover it® Cash Back* is an unlimited cash-back match at the conclusion of your first year. Even though there is no minimum spending requirement, unlike with the majority of other sign-up incentives, if you spend enough you can outearn other credit cards with such bonuses.
You will receive 5% cash back on rotating quarterly categories when you activate them, up to the quarterly maximums (then 1%). These quarterly categories include purchases from grocery stores, gas stations, and Amazon.com. Additionally, Discover will pay you 1% cash back on all additional transactions. Additionally, we’ve gathered a few additional credit cards with large sign-up bonuses.
FAQs:
Choose a credit card?
The ideal credit card ultimately depends on the aims and interests of the individual. Choose the characteristics you want, such as increased rewards, delayed payments for a significant purchase, credit development, an emergency credit card, or other advantages. You can then choose the kind of card you want from there. Then, you may further refine your search for the terms that will work best for you by using internet reviews like those at CNET.
Qualify for a credit card?
The more requirements you have to meet in order to qualify for a certain credit card, the higher the perks. Better credit is required for credit cards with lucrative rewards programmes or cash-back benefits than for credit cards with simpler features.
If your credit is fair or bad, you might only be eligible for secured or credit builder cards. If your credit is good to great, you might be able to get whatever credit card you want with ease. However, if your credit score is below par, you can always attempt to raise it for a higher chance of approval.
What is the best credit card for first-time customers to get?
The ideal credit card for beginners is one that will assist you in building credit, so choose one that reports to all three credit bureaus. You should also consider how you intend to utilise a credit card. Are you expecting to carry a balance from month to month, or can you consistently pay off the creditor? Are you a student who has to pay for a large number of back-to-school purchases? Depending on your needs, one credit card may be superior to another.
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