September 1, 2023
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The Capital One SavorOne Cash Rewards Credit Card can help you earn cash back rewards on basics, like groceries, as well as fun spending. You can earn unlimited rewards on dining, entertainment, select streaming services and more. It’s a $0 annual fee card that comes with a long intro APR on purchases and a great sign-up bonus. If you want one or more of these things in a card, look into the Capital One SavorOne Cash Rewards Credit Card and see if it’s right for you.
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Searching for the best credit card for you could be overwhelming. With all kinds of rewards rates, sign-up bonuses and APRs, it could quickly get confusing, too. LendingTree has compiled a variety of the best credit cards — so whether you’re looking for a travel card, a cash back card, a balance transfer card or a card for bad credit, we break down what the best features of each card is and how to pick the best one for you.
Cash back credit cards reward you with a cash back rebate on every purchase you make. Some cards offer a flat cash back rate, while others give higher bonuses in certain spending categories. When choosing a cash back card, look for cards with no annual fees and higher rewards where you spend the most, like dining, gas or groceries.
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Cash back rewards: 1%-8% cash back
With great rewards on groceries, dining, at-home and in-person entertainment, as well as a flat cashback rate on everything else, the Capital One SavorOne Cash Rewards Credit Card is one of the most rewarding cards around. It even offers an intro APR on purchases and balance transfers for more than a year, so you can pay off a big purchase or existing debt at a lower interest rate.
Who’s this card best for?
If you want to earn a high cash back rate on groceries and dining out, or if you spend a lot on live entertainment and want to get access to VIP experiences and exclusive perks for those events, the Capital One SavorOne Cash Rewards Credit Card could be a great fit. You can also get travel benefits, and you’ll pay a minimal foreign exchange fee.
It’s also a good choice if you want to finance a large purchase or transfer a high-interest balance: It offers an APR of 0% intro on purchases for 15 months, then 19.99% - 29.99% (Variable), as well as an APR of 0% intro on balance transfers for 15 months, then 19.99% - 29.99% (Variable).
Travel credit cards let you earn points or miles to help you save on flights and hotels. When choosing a travel card, compare sign-up bonuses, rewards rates and annual fees. Other things to keep in mind when choosing a travel card are foreign transaction fees, airport lounge access, travel insurance and transfer partners.
Travel rewards: 2X-5X on travel
The Chase Sapphire Preferred® Card will take you far on your next trip, as it offers a valuable sign-up bonus, flexible rewards, reasonable annual fee and various travel protections and credits. Plus, points are worth 25% more when you redeem them for travel through Chase Ultimate Rewards®. You can also transfer your points to a number of travel partners at a rate of 1 to 1.
Rewards credit cards give you cash back, miles or points on your purchases, including bonus rewards on select categories. When picking a rewards card, choose one that offers high rewards in the categories that you spend the most on.
Cash back rewards: 1%-5% cash back
The Chase Freedom Flex℠ is a highly rewarding cash back card, if you don’t mind keeping up with its quarterly categories. You’ll earn 5% cash back on up to $1,500 in combined purchases in popular spending categories that rotate quarterly upon activation — which have included grocery stores, Amazon, gas stations, Walmart, Target and more in the past.
Who’s this card best for?
Between its rotating categories and ongoing rewards on restaurant dining and drugstore purchases, the Chase Freedom Flex℠ is a solid choice all around. You’ll have to remember to activate the categories each quarter, but Chase will typically send a reminder. There’s a quarterly spending cap of $1,500 on the rotating categories, but that’s still $300 in cash back every year just on bonus categories if you max them out.
Student credit cards extend credit to students who don’t necessarily have a full-time income. Banks lend to these borrowers, as students are likely to earn a higher wage after graduating college. When choosing a student credit card, search for cards that earn rewards, help you build credit and have low fees.
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Rewards for students: 1%-5% cash back
If you’re a student beginning your credit journey, the Discover it® Student Cash Back offers a great opportunity to build your credit while earning cash back on every purchase — for a $0 annual fee. Plus, if you need to make a large purchase — like a laptop or school books — and pay it off over time, you’ll get a 0% Intro APR for 6 months on purchases (then 18.24% - 27.24% Variable APR).
Balance transfer credit cards give you low-interest financing when you transfer a balance from another credit card. When picking a balance transfer card, look for one with low balance transfer fees and a long introductory APR.
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Long intro APR on balance transfers: 0% Intro APR for 18 months
0% Intro APR for 18 months. After, a 17.24% - 28.24% Variable APR applies.
The Discover it® Balance Transfer has a great intro APR for balance transfers: Enjoy a 0% Intro APR for 18 months on balance transfers. After, a 17.24% - 28.24% Variable APR applies.
Who’s this card best for?
This card is best if you’re looking for one that offers more than a year to pay off a balance transfer — along with a valuable sign-up bonus. You’ll earn an 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.
Credit cards with 0% APR offers let you pay off your purchases or balance transfers without incurring any interest. This allows all of your payment to go toward paying down your debt. When picking a 0% APR credit card, you’ll want one that offers a long period of no interest, no annual fee and low balance transfer fees.
Long intro APR on purchases: 0% intro APR 21 months from account opening
0% intro APR 21 months from account opening . After that, a 18.24%, 24.74%, 29.99% variable APR applies.
The Wells Fargo Reflect® Card offers one of the longest intro APRs on purchases available: 0% intro APR 21 months from account opening and it also offers a lengthy intro APR on balance transfers: 0% intro APR for 21 months from account opening on qualifying balance transfers.
After, a 18.24%, 24.74%, 29.99% variable APR on purchases and a 18.24%, 24.74%, 29.99% variable APR on balance transfers applies. This gives you almost two years to pay off a big purchase without accruing any interest.
Who’s this card best for?
This card is best if you’re looking for the longest time possible to pay off a large purchase or balance transfer with no interest. However, if you transfer a balance, you will have to pay a fee of 5%; min: $5. But if rewards or a sign-up bonus is important to you, this card might not be best — it doesn’t offer either of those.
Credit cards that build credit report your payment history and card usage to all three major credit bureaus. They also provide tools to help you track your progress and learn how to effectively manage your credit cards. When building your credit history, look for cards that have no annual fee and no security deposit requirement.
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Automatic reviews: Be considered for a higher credit line in as little as 6 months
The Capital One Platinum Credit Card reports your credit usage to the three major credit bureaus (Equifax, Experian and TransUnion) and automatically begins reviewing your account at six months to see if you qualify for a higher credit limit. Not every card for fair credit offers automatic reviews — so this is an especially helpful feature.
Who’s this card best for?
This $0-annual-fee card is a solid choice if you have fair/limited credit and want to use a credit card to help improve your credit.
Gas credit cards can help you earn rewards at the pump. Gas credit cards can refer to co-branded gas station cards, or cash back or travel cards that have high earning rates on gas. If you’re a frequent commuter, you should decide which type of card aligns with the rest of your spending habits.
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Rewards on gas: 5% cash back
The Citi Custom Cash® Card is best if you spend heavily on gas and you’re looking for a card to use specifically on your gas purchases. You’ll earn 5% cash back on purchases in your top eligible spend category each billing cycle, up to the first $500 spent, 1% cash back thereafter. Also, earn unlimited 1% cash back on all other purchases. Gas is included as an eligible spending category — and if you max out the $500 spending cap each billing cycle, you can earn $300 back on gas purchases in a year.
You can also earn $200 in cash back after you spend $1500 on purchases in the first 6 months of account opening. This bonus offer will be fulfilled as 20,000 ThankYou® points, which can be redeemed for $200 cash back.
Who’s this card best for?
If you’re looking to earn as much as you can at the pump with a dedicated gas card, you’ll be hard pressed to find a more rewarding option than the Citi Custom Cash® Card.
No-annual-fee cards tend to offer scaled-down benefits and rewards compared to similar cards with annual fees, but that doesn’t mean you can’t find great cards in this category. Banks are adding valuable perks and rewards to attract budget-conscious consumers who don’t want to pay an annual fee. Look for cards that offer rewards and benefits that match your lifestyle and how you spend.
Earn rewards with no annual fee: 2% cash back
The Wells Fargo Active Cash® Card is one of the simplest, yet most valuable, $0-annual fee cards currently available. With its generous earning rate across all purchases, this is a great card to use alongside other cash back cards with higher-earning bonus categories.
Who’s this card best for?
This card is best if you want a simple approach to earning cash back rewards, since it offers a high flat rate on every purchase.
Credit cards with large sign-up bonuses are an enticing incentive to sign up for a credit card, since you can earn hundreds or even thousands in rewards in your first year. Most cards require you to spend a minimum amount within a set time period to earn the bonus. You should search for a large offer that gives you enough time to meet the minimum spending requirement without spending more than you can comfortably pay off.
Sign-up bonus: Worth up to $750
The Chase Sapphire Preferred® Card’s points are generally valued at 1 cent each — making the bonus at $600. But when you redeem those points for travel through Chase Ultimate Rewards®, you’ll get a 25% boost in value — making the bonus worth $750. In addition, points can be transferred to a number of travel transfer partners (including United and Southwest Airlines) at a rate of 1:1.
This card does charge an annual fee of $95, but the rewards and benefits can easily cover it, especially in the first year.
Who’s this card best for?
If you’re looking to earn a large amount of valuable rewards in a short amount of time, you should consider the Chase Sapphire Preferred® Card. Along with a generous sign-up bonus, you’ll get Enjoy benefits such as 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining, and 2x on all other travel purchases, and $50 annual Ultimate Rewards Hotel Credit, plus more., as well as access to a variety of travel protections and benefits.
Grocery credit cards can help you earn rewards on groceries — and sometimes other everyday purchases, too. Both cash back and travel credit cards may offer high rewards rates on groceries — so decide what kind of grocery credit card is a better fit for you. Ultimately, you should make sure the card you’re interested in doesn’t exclude your grocery store(s) of choice.
Rewards on groceries: 1%-6% cash back
The Blue Cash Preferred® Card from American Express offers one of the best earning rates on U.S. supermarket purchases. In fact, if you max out the $6,000 spending cap, you’ll earn $360 cash back on those purchases alone each year.
You can also earn a generous cash back rate on select U.S. streaming subscriptions, transit, and gas at U.S. gas stations. And earn a earn a $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.
Who’s this card best for?
If you spend a significant amount at U.S. supermarkets and other everyday categories, like U.S. gas, select streaming services and transit, the Blue Cash Preferred® Card from American Express could be a great fit.
To see rates & fees for Blue Cash Preferred® Card from American Express please click here.
Business credit cards allow you to separate your personal and business purchases, which makes it easier to track expenses and build credit for your business. Many business credit cards also earn rewards, include valuable benefits and offer free employee cards. Choose a business card with benefits that you’ll use and bonus categories that match where your business spends the most.
Rewards on business purchases: 5% cash back
The Ink Business Cash® Credit Card lets you earn a great cash back rate on common business purchases: Earn 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other card purchases with no limit to the amount you can earn.
Plus, earn $900 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening.
Who’s this card best for?
If you’re a business owner who spends heavily on categories like office supply stores, internet, cable and phone services, gas and restaurants, the Ink Business Cash® Credit Card is a winner. If you max out the $25,000 spending cap, you can earn up to $1,250 in cash back in the 5% category alone.
Rewards on business travel: Up to 3X points on travel and business expenses
The Ink Business Preferred® Credit Card can help business owners rack up a lot of points on their common expenses, like office supply stores and internet and phone services. Its rewards rate is a bit complex, but that could mean serious savings depending on how your business spends.
You can also earn 100,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening.
Who’s this card best for?
The Ink Business Preferred® Credit Card is best for business owners who travel often and spend a good amount on these categories:
Dining credit cards are a great way for foodies to earn rewards on their restaurant, takeout or delivery purchases. There are many types of cards that offer high rewards rates on dining and restaurants — so decide whether you prefer cash back or travel rewards before seeking out a dining credit card.
Rewards at U.S. restaurants: 1X-4X points
The American Express® Gold Card offers an excellent rewards rate on restaurants, takeout and delivery in the U.S. and U.S. supermarkets. It also comes with a dining credit of up to $120 to use at select restaurants and delivery apps (enrollment required).
Who’s this card best for?
The American Express® Gold Card is best for frequent travelers who often spend on groceries and dining. This card offers excellent rewards on those categories, which you can redeem for valuable travel by transferring to American Express’s airline and hotel partners.
To see rates & fees for American Express® Gold Card please click here.
Credit cards that offer lounge access can be a great tool and money saver for travelers who love to utilize them. When looking for a credit card that offers lounge access, make sure to double-check whether they offer free or discounted lounge access. Note, too, that these credit cards usually come with higher annual fees.
Lounge access: Access to more than 2,500 lounges
The Platinum Card® from American Express offers access to more than 2,500 lounges internationally through The Global Lounge Collection and Priority Pass. Plus, earn a generous welcome offer, a high rewards rate on travel purchases booked through American Express Travel and credits worth more than $1,000.
Who’s this card best for?
If you’re a frequent traveler who plans to take advantage of lounge access and travel credits — which can justify the $695 annual fee — The Platinum Card® from American Express is an ideal option.
Low-interest credit cards can help you avoid costly interest charges. Keep in mind that even though a card may offer a low interest rate, you may not qualify for the lowest possible interest rate depending on your credit. The better your credit, the lower your APR generally is.
Low APR: 12.99% to 24.99% variable
The BECU Visa Credit Card has one of the lowest APRs among any credit card — 12.99% to 24.99% variable APR — making it a good option if you need to carry a balance on your card from time to time.
The APR that you ultimately receive will be determined by your credit score and the current prime rate. If you have excellent credit, you will be likely to get the lower APR option.
Who’s this card best for?
The BECU Visa Credit Card is best for people that qualify for this credit union looking for a constant low APR.
You must meet one or more of the following qualifications:
| Credit Cards | Our Ratings | Rewards Rate | Annual Fee | Recommended Credit | |
|---|---|---|---|---|---|
|
Capital One SavorOne Cash Rewards Credit Card
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on Capital One's secure site Rates & Fees |
Winner + best for cash back
|
1% - 8% Cash Back
| $0 | Excellent/Good |
Apply Now
on Capital One's secure site Rates & Fees |
|
Chase Sapphire Preferred® Card
|
Travel
|
2x - 5x points
| $95 | Excellent | |
|
Chase Freedom Flex℠
|
Rewards
|
1% - 5% cash back
| $0 | Excellent/Good | |
|
Discover it® Student Cash Back
Apply Now
on Discover's secure site Rates & Fees |
Students
|
1% - 5% cash back
| $0 | Fair/Limited |
Apply Now
on Discover's secure site Rates & Fees |
|
Discover it® Balance Transfer
Apply Now
on Discover's secure site Rates & Fees |
Balance transfer
|
1% - 5% cash back
| $0 | Excellent/Good |
Apply Now
on Discover's secure site Rates & Fees |
|
Capital One Platinum Credit Card
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on Capital One's secure site Rates & Fees |
Building credit
|
Non-rewards card
Non-rewards card | $0 | Fair/Limited |
Apply Now
on Capital One's secure site Rates & Fees |
|
BankAmericard® credit card
|
N/A | N/A | $0 | Excellent/Good | |
|
Citi Custom Cash® Card
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on Citibank's secure site Rates & Fees |
Gas rewards
|
N/A | $0 | Excellent/Good/Fair |
Apply Now
on Citibank's secure site Rates & Fees |
|
Wells Fargo Active Cash® Card
Review Coming Soon
|
No annual fee
|
2% cash rewards
| $0 | Excellent/Good | Review Coming Soon |
|
Chase Sapphire Preferred® Card
|
Sign-up bonus
|
2x - 5x points
| $95 | Excellent | |
Blue Cash Preferred® Card from American Express
|
Grocery rewards
|
1% - 6% Cash Back
| $0 intro annual fee for the first year, then $95. | Excellent/Good | |
|
Ink Business Cash® Credit Card
|
Business
|
1% - 5% cash back
| $0 | Excellent | |
|
Ink Business Preferred® Credit Card
|
Business travel
|
1x - 3x points
| $95 | Excellent | |
American Express® Gold Card
|
Dining rewards
|
N/A | $250 | Excellent/Good | |
The Platinum Card® from American Express
|
Lounge access
|
N/A | $695 | Excellent/Good | |
|
Lake Michigan Credit Union Prime Platinum
|
Low interest
|
N/A | $0 | Excellent/Good |
When deciding on a credit card, first consider the categories you spend the most on and what your goals are for owning a credit card.
Most credit cards fit into one of these main categories:
Cash back credit cards
Cash back credit cards let you earn back a percentage of each purchase you make, effectively lowering the cost of everything you buy using the card. Cash back rewards are usually redeemed via statement credits, which are used to pay your balance. They can also often be redeemed for direct deposits, gift cards and more.
Travel credit cards
Travel credit cards earn points or miles instead of cash back. Points or miles are typically worth around 1 to 2 cents and can be redeemed for flights or hotel stays. Some cards are flexible and allow you to earn rewards on any travel purchases, while some co-branded cards only let you earn points on certain airline or hotel chains.
Best airline credit card: Each airline offers multiple options to earn points and miles with their loyalty program. With many of these cards, you’ll receive extra travel benefits like statement credits, free checked bags, early boarding, lounge access and more. Choosing an airline card depends on where your loyalty lies. If you travel with one airline frequently, an airline credit card could be worth it even if it comes with an annual fee.
The Chase Sapphire Preferred® Card is our top pick for best airline credit card, thanks to its generous earning rate on travel purchases, numerous travel protections and ability to transfer rewards to a variety of airline and hotel partners.
Best hotel credit card: Hotel credit cards are either co-branded or general travel cards that let you earn rewards to use toward free hotel night stays. These cards also unlock a number of hotel benefits, like complimentary room upgrades, early check in/late check out, free WiFi and more.
The Hilton Honors Aspire Card from American Express is our pick for best hotel credit card, due to its high earning rate on travel, numerous travel credits, annual free night reward and complimentary Hilton Diamond status (enrollment required).
Best credit card for international travel: While traveling internationally and seeing the world is an exciting experience, costs can add up quickly if you’re using a credit card with foreign transaction fees. The best international travel cards come with valuable travel benefits, but without foreign transaction fees.
The Chase Sapphire Preferred® Card, United℠ Explorer Card and The Platinum Card® from American Express are just a few examples of cards that offer no foreign transaction fees, along with additional travel benefits to make you comfortable along the way.
Secured cards
If you have bad or limited credit, a secured credit card can give you access to credit while helping you build or establish your credit profile. You’ll pay a refundable security deposit upfront (usually around $200), which will serve as your credit limit. These cards don’t usually have the best rewards programs, but they’re often available for no annual fee and are easy to qualify for.
Balance transfer cards
Balance transfer credit cards allow you to save money by transferring existing high-interest credit card debt to a card with a lower APR. The best balance transfer cards offer a 0% intro APR for a year or longer.
Note that while it is possible to find a card with no balance transfer fees, those cards tend to offer shorter interest-free periods than ones that charge 3% to 5% of each transferred balance.
Student credit cards
If you’re a student, a student credit card can help you build credit while earning rewards. These cards typically earn cash back rewards and offer lower credit limits. Many student credit cards are a good option for students’ first credit cards, since those with a limited credit history can qualify.
Beginner credit cards
Building credit early is important and can be a major factor in some life events, like buying your first home or car. When choosing the best credit card for beginners, it’s important to look for a card intended for those with limited or no existing credit history that doesn’t have an annual fee. After using your card responsibly over time — paying your bill on time and in full each month and keeping your credit utilization ratio low — you’ll start to build a positive credit history.
Easy-to-get credit cards
While cards designed for those with poor or non-existent credit sometimes come with high interest rates and a variety of fees, there are options available with reasonable APRs, straightforward terms and limited fees or no fees, including secured cards, student cards and store cards.
If you want a travel rewards card that offers generous cash back at U.S. restaurants — including takeout — and U.S. supermarkets, the American Express® Gold Card is the way to go. Meanwhile, for those who are new to credit cards and want something for beginners, the Blue Cash Everyday® Card from American Express is a great option to start earning cash back.
The Bank of America® Customized Cash Rewards credit card is the best option for flexibility with a cash back program that allows you to choose your 3% earning category from six different options. If you need to carry a balance on your card from month to month or transfer a balance from an existing card, the BankAmericard® credit card offers a lengthy intro APR on purchases and balance transfers.
If you spend a large amount on dining, the Capital One SavorOne Cash Rewards Credit Card is a solid choice. But if you want to build credit, the Capital One Platinum Credit Card is a better option.
If you’re looking for a well-rounded Chase credit card, the Chase Freedom Unlimited® card is a great option. But if you want to earn valuable rewards to help offset the cost of future travel, the Chase Sapphire Preferred® Card may be best. Or, if you need to transfer a balance from a high-interest card, the Chase Slate Edge℠ may be a better choice.
The Citi Custom Cash® Card can help you earn cash back on purchases by applying your bonus automatically to your highest spending category each month. For a more simple approach to cash back, the Citi® Double Cash Card – 18 month BT offer is a great choice.
The Discover it® Cash Back lets you earn one of the highest cash back rates available, as long as you’re okay earning cash back on categories that rotate quarterly. If you’re looking for a card that offers more straightforward cash back in specific categories, like gas and dining, the Discover it® Chrome card is a good choice.
The easy-to-use Wells Fargo Active Cash® Card offers flat cash back on every purchase. If you’re looking for a long intro APR period, the Wells Fargo Reflect® Card allows you to finance a purchase without interest for almost two years.
The number of credit cards you should have varies for each person and depends on your financial goals and lifestyle needs. For example, you may have one credit card that offers cash back on your weekly grocery purchases and another that allows you to finance a large purchase interest-free for an extended period of time.
Along with letting you earn rewards in different spending categories and/or save on interest charges, having multiple cards can help increase the amount of credit you have available — which can have a positive impact on your credit score.
If you do decide to have multiple credit cards, it’s important to make on-time payments on all of your cards.
TIP: To make paying on time easier, set up automatic payments and due date alerts. You may also be able to request the same payment due dates for all of your cards from the issuers.You should also be aware of how often you apply for new cards, as a hard inquiry will appear on your credit report and temporarily lower your credit score by a few points.
Some credit card issuers have unspoken rules on applying to too many cards in a short period of time. For example, Chase has a 5/24 rule that prevents you from being approved for a new Chase credit card if you’ve opened five or more new credit cards from any issuer in the past 24 months.
To get for a credit card, follow these steps:
Generally, you’ll have a decision within a few minutes of applying for a new credit card. If you were approved, you should receive the card within seven to 10 business days.
However, this time frame varies by the card issuer and which credit card you’ve applied for. To illustrate how different each bank is, here are the timelines provided by a few of the most popular credit card issuers.
Credit card company rules to keep in mind
Wells Fargo: If you’ve opened a Wells Fargo credit card in the past six months, you won’t qualify for another card.
Chase: Chase has an unwritten rule referred to as the Chase 5/24 rule. If you’ve been approved for five or more personal credit cards over the past 24 months, it’ll deny your application for a new credit card. So if you’re looking to get a new Chase credit card, you should apply for one before you apply for cards from other issuers.
Credit cards work as a convenient payment method and can also help build your credit history — if you make your payments on time and don’t carry too large of a balance.
Regardless of your credit score, the most important thing to do is pay off your balance in full and on time. Your payment history is the biggest factor of your FICO Score, as it shows lenders that you’re a trustworthy borrower. Some types of credit cards also let you earn rewards on your purchases and offer a variety of other perks like travel and purchase protections.
Different types of credit cards, however, vary in how you can earn and redeem rewards.
Credit cards are available for people with all types of credit history. Whether you have bad credit, are just starting your credit journey or have perfect credit, you have choices. Many credit cards have minimum credit score requirements, so people with lower credit scores or a short history may not qualify for cards with the best rewards and benefits.
Even if you currently have bad credit or are rebuilding your credit score, you can grow your score with responsible use of these cards. As your score grows, you can apply for more lucrative cards with better rewards and benefits. Over time, you’ll reach your credit goals by making all of your payments on time and keeping your balances low.
| FICO Score | Vantage Score |
|---|---|
|
|
Learn more about the different types of credit scores.
Some of the main characteristics of cards you want to look at are rewards rates, sign-up bonuses and annual fees. But if you’re comparing two cards that are similar in those regards, the following benefits could help you decide which card to pick.
Rewards rates: If you’re choosing a card for building credit like a secured or student credit card, then having a rewards rate at all can be a major plus.
In travel cards particularly, you should look at what types of travel insurance and protections it offers. Some common ones are trip cancellation/interruption insurance, baggage delay insurance and emergency assistance services, among others.
Concierge service: Concierge services can help you make arrangements for travel, restaurants, entertainment and more. Some cards offer complimentary concierge service as a perk.
$0 fraud liability: If your card is stolen and used to purchase something, you won’t be held liable for it with a card that has $0 fraud liability.
Purchase protection: Purchase protection can cover new purchases against damage or theft for a period of time and up to a certain amount.
You can check the issuer’s website or the card’s terms and conditions to see if a card offers any of these.
Using your credit card for different purposes or in different places may subject you to fees. Here are some common ones to be aware of:
Annual fee: The fee for simply owning the card. Not every card has one, but the ones that do can range anywhere from $95 to $695.
Foreign transaction fee: A fee incurred for using your credit card outside of the U.S. It is usually 3% to 5% of each transaction.
Balance transfer fee: This is the fee for transferring a balance onto a new card, and it’s typically 3% to 5% of the balance, with a minimum of $5 to $10.
Cash advance fee: The fee for using your credit card to get cash. It’s typically 5% of each cash advance. You also may be subject to a cash advance APR, which is higher than regular APRs.
Authorized user fee: The fee for adding an authorized user to your credit card. Some cards allow you to add your first few authorized users for free, then charge a fee after you pass that amount.
Before you apply for a card, you can check all the rates and fees of a card on the issuer’s website.
You can also check the issuer’s website or the card’s terms and conditions to see if a card offers any of these.
How to use credit cards
1. Use your card often. Whether you’re using your credit card to earn rewards or build your credit, you should use it regularly. You probably won’t accomplish either of those things by leaving your credit card in your wallet.
2. Don’t spend more than you can afford. You should aim to be able to pay off your credit card each month. Even if your credit card has a high credit limit, lenders don’t want to see you use all of it. In general, you shouldn’t use more than 30% of your limit — that’s called your credit utilization ratio, which factors into your credit score.
3. Pay off your balance in full and on time. This is the most important factor in maintaining a good credit score. When you pay off your balance in full and on time, you can boost your credit — and avoid paying interest
4. Don’t close your credit cards unless you have to. If you don’t use a particular credit card anymore, you shouldn’t cancel it if it’s not costing you anything, as that can ding your credit. Even if it is costing you an annual fee, call your issuer and ask it to remove the annual fee or downgrade your card. There’s no guarantee the issuer will do this, but it can help you avoid hurting your credit score and paying annual fees for cards you don’t use.
How does credit card interest work?
Credit cards charge customers interest when they carry a balance from one statement period to another. Interest charges are based on the average daily balance of your credit card and the interest rate associated with your account.
Here are a few terms related to interest rates that you may find on your credit card statement.
If you need a lower interest rate, you can always try asking your credit card issuer to lower it.
A LendingTree survey found that more than 3 in 4 credit cardholders (76%) who asked their issuer for a lower card APR in the past year were successful. This is an easy and free way to save money on interest.
Follow these simple tips to get the most out of your cards:
The best credit card offers are determined by a variety of factors, including the sign-up bonus value, rewards rate, annual fee, interest rate and any other benefits and protections offered with the card.
One of the best ways to pay off credit card debt is by using a balance transfer credit card. With a balance transfer, you can move high-interest debt from one card to another with a lower interest rate. This allows you to pay down your balance more quickly while also saving money on interest charges.
The best cards for travel points offer 2X to 5X points on travel-related purchases and offer flexible redemption options and travel transfer partners. The Chase Sapphire Preferred® Card offers Enjoy benefits such as 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining, and 2x on all other travel purchases, and $50 annual Ultimate Rewards Hotel Credit, plus more.. Plus, 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®. This card is ideal if you want to earn rewards to help offset the cost of future travel.
Just like there’s no best credit card for everyone, there isn’t just one credit card company that works best for everyone. The credit card company that’s best for you depends on what you’re looking for in a credit card and what types of benefits the issuer offers. For example, Discover is known for having excellent customer service and offering credit cards with a Cashback Match bonus and no annual fees or foreign transaction fees. So if those features are important to you, a Discover credit card could be a great fit.
The best credit card options for a fair or poor credit score (typically a credit score less than 580), are usually secured credit cards. Secured credit cards allow you to take advantage of cash back rewards, benefits and no annual fee for a small upfront deposit that becomes your line of credit. One of the best cards for bad credit is the Discover it® Secured Credit Card, which offers rewards on every purchase and automatic monthly account reviews after seven months to see if you are eligible to graduate to an unsecured card.
For Amazon Prime members, the $0-annual-fee Prime Visa is the best option, since it offers a high earning rate at Amazon.com and Whole Foods Market as well as an Amazon gift card upon approval.
In selecting the best credit cards, we evaluated factors such as rewards, sign-up bonuses, 0% intro APRs and accessibility for consumers with varied credit histories.
Many of the cards on this list charge no annual fee. If a card does charge an annual fee, it offers enough value through rewards and benefits to make it worth the fee in certain situations.
Finally, benefits such as travel and extended warranty protections were weighed in favor when offered.
To see rates & fees for Blue Cash Preferred® Card from American Express please click here.
To see rates & fees for American Express® Gold Card please click here.
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
The information related to the Chase Sapphire Preferred® Card, Chase Freedom Flex℠, Ink Business Cash® Credit Card, Ink Business Preferred® Credit Card, Chase Slate Edge℠, and Prime Visa has been collected by LendingTree and has not been reviewed or provided by the issuer of this card prior to publication. Terms apply.
The above offers and/or promotions may have since changed, expired, or is no longer available. Check the Issuers’ website for more details.
