No credit card is best for everyone. The best credit card for you may not be the best for your friend, or may not be the best option for every type of purchase or budget.
Your choice of credit card should be based on the reason you want to acquire one. This reason could either be to build a better credit score so you can be eligible for a loan or mortgage, rewards or to enjoy 0% APR and interest.
A group of experts who are very intentional about ensuring that you’re making the right choice in your quest for a credit card has been able to put out a list of the best credit cards capable of satisfying your needs whatever it may be.
The best credit cards
Best cashback cards
- Fargo active cash card:
Intro Bonus: You will earn a $200 cash reward after spending $1000 in purchases in the first 3 months
Annual fee: $0
Regular APR: 14.99% – 24.99% variable
Recommended credit: Good to excellent (670- 850)
Rewards: 2% cash rewards on every purchase you make.
Bankrate’s review: If you are searching for a flat rate cash reward credit card, consider the Wells Fargo card. It features an unlimited 2% cash reward on purchases.
Pros:
• Rewards remain valid no matter how long, as long as the account is open. There’s also no limit to how much reward you earn with the card.
Cons:
• Your reward can only be in cash and is not transferable to travel partners.
• Some cashback cards have lower spending requirements attached to their welcome offers.
Other card details:
• A $200 cash reward bonus after spending $1000 in purchases in the first 3 months
• Unlimited 2% cash rewards on purchases
• 0% intro APR for 15 months from account opening on purchases and qualifying balance transfers
• No category restrictions or sign ups and cash rewards don’t expire as long as your account remains open.
• You can enjoy $600 protection on your cell phone (subject to $25 deductible) against covered damage or theft when you pay for your monthly, cellular telephone bill with your Wells Fargo active cash card.
Apply for a Wells Fargo credit card
2. Chase Freedom Unlimited:
Intro Bonus: Earn an additional 1.5% cashback on everything you buy
Annual fee: $0
Regular APR: 14.99% – 23.74% variables
Recommended credit: Good to excellent (670 – 850)
Rewards: 5% cashback on travel purchased through chase ultimate rewards. Their premier reward program lets you redeem rewards for cash back, travel, gift cards, and more.
3% cashback on drugstore purchases and dining at restaurants including takeout and eligible delivery service.
1.5% reward on all other purchases.
Bankrate’s review: With chase freedom unlimited, your cashback can be converted to points when transferred to the chase ultimate rewards program.
Pros:
• It requires less spending for the card’s sign-up bonus compared to other competing cashback cards.
• The card combines competitive cash back on general purchases with the possibility to earn more on select bonus categories.
Cons
• To earn 5 percent back on travel you must book through the ultimate rewards portal.
• Some flat-rate cash back credit cards offer a higher return on general purchases than chase freedom unlimited.
Other card details
• Chase credit journey helps you monitor your credit with free access to your latest score, real-time alerts, and more.
Apply for Chase Freedom Unlimited
Best 0% intro APR cards
3. Wells Fargo Reflect cards
Intro Bonus: N/A
Annual fee: $0
Regular APR: 12.99% – 24.99% variable
Recommended credit: Good to Excellent (670 – 850)
Rewards rate: N/A
Bankrate’s view: Wells Fargo Reflect card can net you up to 21 months from account opening of a 0 percent intro APR on purchases and qualifying balance transfers (then 12.99 percent to 24.99 percent variable APR)
But remember that you will start with 18 months of promotional interest, but can qualify for up to a 3-month extension by making on-time monthly premium payments. This remains one of the longest promotional interest offers in the market.
Pros
• This card also comes with cell phone protection (up to &600, subject to a $25 deductible when you pay your monthly phone bill with the card)
• The promotional APR applies to purchases and qualifying balance transfers.
Cons
• If you don’t transfer the balance within 120 days of account opening, you will face a hefty 5 percent balance transfer fee.
Other card details
• You can earn cashback in the form of a statement credit while you shop, dine or enjoy an experience simply by using your eligible Wells Fargo credit card.
Apply for Wells Fargo Reflect card
Best No annual fee card
4. Capital One SavorOne cash reward credit card
Intro bonus: $200
Annual fee: $0
Regular APR: 14.99% – 24.98% Variable
Recommended credit: Good to Excellent (670 – 850)
Rewards rate:
Earn 8% cashback on tickets at vivid seats through January 2023
Earn unlimited 3% cashback on dining, entertainment, popular streaming services and at grocery stores (excluding Walmart® and Target
Earn 1% on all other purchases
Bankrate’s review: Capital one savor one offers a still-competitive unlimited 3 percent cash back on dining, entertainment, and at grocery stores.
Pros:
• There’s a relatively low spending requirement associated with the card sign up offer
• The card doesn’t charge an annual fee and no foreign transaction fees
Cons:
• Excluding grocery stores, the cards bonus categories are majorly focused on discretionary spending
• Avoid redeeming your cash rewards on Amazon.com as they are a lot of restricted items you can’t purchase with your rewards.
Other card details:
• No foreign transaction fee
• No annual fee
• Doesn’t require sign-ups to earn cash rewards
• Cashback also does not expire as long the account remains opened and there’s no limit to how much you can earn.
Apply for Capital One SavorOne Cash reward credit card
Best reward card
5. Blue cash preferred ® card from American Express
Intro Bonus: $300
Annual fee: 0$ introductory annual fee for the first, then $95
Regular APR: 13.99% – 23.99% Variable
Recommended credit: Good to Excellent (670 – 850)
Rewards rate:
Earn 6% cashback at U.S supermarkets on up to &6,000 per year in purchase (then 1%)
Earn 3% cashback on transit including taxis/ rideshare, parking, buses, and trains.
Also, earn 3% cashback at US gas stations.
1% cashback on other purchases
Bankrate’s view: Blue cash preferred ® card could be described as a card for families. It offers outstanding reward rates on everyday expenses.
Pros:
• The card offers purchase protection, return protection, and extended warranty benefits.
Cons:
• For the first year, you get to enjoy a $0 intro annual fee but will pay a $95 annual fee thereafter.
Other card details:
• Cash back is received in the form of reward dollars that can be redeemed as a statement credit.
• You can earn a $300 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.
Apply for Blue Cash preferred® card
Beat travel card
6. Capital one Venture X Reward credit card
Intro Bonus: 100,000 miles
Annual fee: $395
Regular APR: 16.99% – 23.98% variable
Recommended credit: Excellent (740 – 850)
Reward rate:
Earn unlimited 10 x miles on hotels and rental cars booked through Capital one travel and 5X miles on flights booked through Capital one travel.
2X miles on all other purchase
Bankrate’s view: Capital One Venture X Credit card is one of the best if you’re a traveler who wants to enjoy some travel rewards. You are eligible for a flat rate reward offering that will allow you to earn big in various spending categories.
Pros:
• Capital one venture’s reward credit card has no penalty APR although you will be charged up to a $40 late payment fee.
Cons:
• The requirements to qualify for this card is quite high as your credit must be excellent.
• To enjoy rewards in key travel categories, you must book through Capital one travel.
Other details:
• You will receive up to $300 back annually as statement credits for booking through Capital one travel where you’ll get Capital one best prices on thousands of options.
• You will earn 100,000 bonus miles when you spend $10,000 in purchases in the first 6 months from account opening, equal to $1,000 in travel.
Apply for Capital One Venture X Rewards Credit Card
Best student card
7. Discover it® Student cash back
Intro Bonus: Cashback match™
Annual fee: $0
Regular APR: 12.99% – 21.99% Variable
Recommended credit: You don’t need a credit history to qualify
Reward rate:
Earn 5% cashback on everyday purchases at different places each quarter like Amazon.com, grocery stores, restaurants, gas stations, payments made via PayPal
Automatically earn unlimited 1% cashback on all other purchases.
Bankrate’s view: If you are a new student looking for a lucrative and generous reward credit card, consider applying for Discover It® Student cashback.
Pros:
• They have a lot of catchy offers, from no annual fee to no foreign transaction fee and no penalty APR
Cons:
• As you get to your second year, the card’s value goes down once the cashback match is no longer on the table.
Other card details:
• Earn rewards while building your credit history which can be of benefit to you after graduation.
• No annual fee, a late fee on first late payment, and no APR charge for paying late
• As a new Discover it ® Student card member, you earn a statement credit each time you refer a friend and they are approved.
Apply for Discover It® Student cash back
Conclusion
This article serves as a guide to choosing the best credit card for your financial needs.
With the hundreds of credit card offers available in the market today, we’ve been able to list some of the best based on cash backs, rewards, 0% intro APR, travel cards, and students card.
Whatever your reason is for the need to acquire a credit card, this article will be very helpful.
