With banks constantly trying to outdo each other by offering better credit card rewards and perks, it is important to do some research before settling on a single option. In this guide, we will look at some of the top options on the market today, including those from Chase, Citi, Wells Fargo, and more!
Best for travel rewards: Chase Sapphire Preferred
With this card, you will get a sign-up bonus worth up to 50,000 points when you spend $4,000 in the first three months (good for about $625 in cash or travel). Additionally, 2x points on travel and dining purchases worldwide, and 1x point on everything else.
For the first year, you won’t pay an annual fee, but after that it’s $95. There are no foreign transaction fees. It also offers 24/7 concierge service; and on top of that if your flight gets delayed or canceled due to weather or mechanical issues, you’ll be reimbursed up to $500 per ticket within 24 hours of filing a claim with American Express’ travel protection plan.
Best for cash back: Citi Double Cash
Citi Double Cash offers 1% cash back on all purchases and an additional 1% back when you pay your bill in full. So, for example, if you spend $1,000 on groceries, your total cash back would be $10 ($1 + $9).
The Citi Double Cash also has no annual fee or foreign transaction fees and doesn’t require good credit.
If you don’t carry a balance but want to earn some extra money each month by using your credit card responsibly, this is an excellent choice for you—so long as all of your spending goes toward gas and groceries (or anything else) where 1% may make a difference to your budget.
Best for students: Discover it Student Cash Back
If you are currently a student, the Discover it Student Cash Back could be your best bet. There is no annual fee to worry about, and you will earn 1% cash back on all purchases.
However, if you already have a Discover credit card and don’t want to open a new one, you can still get the same great features by upgrading to the Discover it Secured Card.
This card has an annual fee of zero dollars and offers students who have been denied for other unsecured credit cards an easier way to build their credit history using their own funds as collateral for borrowing money from the bank.
Best to start building credit: Capital One Secured Mastercard
The Capital One Secured Mastercard has no annual fee, which is a nice benefit to have if you are building your credit history and need to keep costs down. It reports your activity to all three major credit bureaus (Experian, Equifax, and TransUnion) so you can start rebuilding those FICO scores while also earning rewards that will help offset what you spend each month on the card itself.
It is great for people who want flexibility in how they choose to pay off their balance each month. The Capital One secured card offers many ways for customers to pay off their purchases over time without having any late fees or interest charges assessed against them until after six months have passed since opening an account.
Best to build credit and earn rewards: Capital One QuicksilverOne Rewards Credit Card
The Capital One QuicksilverOne Rewards Credit Card offers a generous sign-up bonus of $150 after you spend $500 on purchases within the first three months of opening your account.
It also has no annual fee and offers 3 percent cash back on all purchases, no matter how small, or large they are. You can redeem it as a statement credit or receive gift cards, travel rewards, merchandise, and more. The card also comes with an intro APR of 0 percent on purchases for 15 months, then an ongoing APR of 16.74% – 24.74%. Variable APR applies depending on your creditworthiness.
Best for part-time workers or freelancers: Amazon Prime Store Card
The Amazon Prime Store Card from Chase provides 5% back on all Amazon purchases, 2% on gas, restaurants, and drugstores, and 1% on everything else. There is no annual fee and no foreign transaction fees. This is a great card for anyone who does most of their shopping at Amazon or has students in college who will be buying textbooks through the company’s website.
Best for rewards with no annual fee: Wells Fargo Propel American Express Card
The Wells Fargo Propel American Express Card is one of the best credit cards on the market with no annual fee. They offer 3 points per dollar spent at restaurants and 1 point per dollar everywhere else.
You can also choose to use your points to pay for travel with any airline, hotel chain, car rental company, or cruise line by using their travel portal. There are no blackout dates or restrictions when using your points this way!
If you spend $3,000 in the first three months after opening an account and pay your balance off each month, then this card will give you $360 in bonus rewards over two years. If you’re looking for a new credit card but don’t want to commit to an annual fee just yet, this might be worth considering, as it comes with 0% introductory APR on purchases and balance transfers for 12 months from the date of opening the account.