At The Balance, we name the best credit cards based on the features we think are the most valuable for different sets of needs. Whether you’re looking for travel rewards, cash back on everyday purchases, a way to build credit, or a better way to pay down costly debt, we’ve done the research and crunched numbers to find the very best option for you. These are the best credit cards you can get right now, and we highly recommend giving each offer a second look:
Best Credit Cards
- Capital One Quicksilver Cash Rewards Credit Card
Best Overall, Best for Cash Back - Discover it Miles
Second Best Overall - Wells Fargo Cash Back College
Best for Students - Discover it Secured
Best Secured Card - CitiBusiness AAdvantage Platinum Select Mastercard
Best for Small Business Owners - United Explorer Card
Best for Airline Flights - Chase Sapphire Reserve
Best for Travelers - Citi Simplicity
Best for Balance Transfers
Capital One Quicksilver Cash Rewards Credit Card
Best Overall
,Best for Cash Back
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Earn a one-time $200 cash bonus once you spend $500 on purchases within 3 months from account opening.
Regular APR (%) | 15.49% - 25.49% variable |
Annual Fee | $0 |
Rewards Earning Rate | 1.5% cash back on every purchase, every day. |
INTRO PURCHASE APR | 0% for 15 Months |
Foreign transaction fee (%) | 0% |
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This well-rounded card deserves our top honor and a place in your wallet. Earning cash back is super simple, since there are no categories or limitations to worry about. You’ll get a respectable 1.5% cash back on every dollar you spend, everyday, plus a $200 bonus if you charge $500 in your first three months with the card. If you have a big purchase to make, you’ll get 15 months interest-free on new purchases thanks to its introductory offer. All this makes for an excellent card without an annual fee.
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Pros
- Solid cash-back rate on every dollar you spend
- Simple, no-fuss cash back is easy to earn and redeem
- Competitive welcome bonus
Cons
- No interest-free promotion on balance transfers
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- Earn a one-time $200 cash bonus once you spend $500 on purchases within 3 months from account opening.
- Every purchase earns 1.5% cash back, and the total cash back you can earn is unlimited.
- Enjoy 0% intro APR on purchases for 15 months.
- No foreign transaction fees.
Discover it® Miles
Second Best Overall
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Discover will match all the cash back you've earned at the end of your first year, automatically.
Regular APR (%) | 11.99% - 22.99% variable |
Annual Fee | $0 |
Rewards Earning Rate | Earn unlimited 1.5 miles for every dollar spent. |
INTRO PURCHASE APR | 0% for 14 Months |
Foreign transaction fee (%) | 0% |
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Despite its branding, Discover it Miles essentially functions as a cash-back card with superb flexibility. You’ll earn 1.5 miles for every dollar you spend and can redeem those miles for statement credits on prior travel purchases or as cash back directly deposited in your bank account. (Miles are always worth 1 cent each.) You can even use them right at checkout on Amazon.com. What’s more, this card offers 0% APR on purchases for 14 months, and Discover will match all rewards earned your first year as a cardholder. This bonus is worth about $365, based on average U.S. household spending.
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Pros
- No annual fee
- Miles can be redeemed as travel statement credits or cash back
- Generous, unconventional bonus doubles your first year earnings
- Competitive 0% purchase APR offer
Cons
- Miles can’t be transferred to airline loyalty programs
- No travel insurance benefits
- Card acceptance may vary compared to Visa or Mastercard
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- Earn unlimited 1.5 Miles for every dollar spent on all purchases.
- Only Discover automatically matches all the Miles you've earned at the end of your first year.
- Use your card to pay for airfare, hotels, rideshares, and more with no blackout dates. Then easily redeem miles as a statement credit for travel or get cash.
- No annual fee.
Chase Sapphire Reserve®
Best for Travelers
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50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
Regular APR (%) | 16.99% - 23.99% variable |
Annual Fee | $550 |
Rewards Earning Rate | Earn 3x points on travel immediately after earning your $300 travel credit, 3X points on dining at restaurants, and 1 point per $1 spent on all other purchases. |
Foreign transaction fee (%) | 0% |
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This card has a sky-high annual fee, but its rich rewards-earning rates on travel and restaurant purchases, a $300 annual credit toward travel, and superior travel perks (who doesn’t want unlimited access to participating airport lounges?) make it more than worthwhile for the frequent traveler. Plus, you’ll get some terrific flexibility when it comes time to redeem your reward points. You can use them to book your choice of airline or hotel through the Chase online portal, or you can transfer them (usually at a 1-to-1 ratio!) to any eligible airline or hotel rewards programs.
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Pros
- Earn extra points for travel and dining purchases
- Many different purchases count as travel spending, which makes earning rewards easier
- Several valuable ways to use points, including transfers to partner loyalty programs
- Jam-packed with valuable travel credit and travel insurance benefits
Cons
- Massive annual fee
- High ongoing APR
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- Receive 50,000 points after spending $4,000 in the first 3 months from account opening.
- Get an annual $300 travel credit for eligible purchases charged to your card each anniversary year.
- Earn 3 points on travel (excluding purchases eligible for the travel credit), restaurants, and dining. Earn 1 point per $1 spent on other purchases.
- Points are worth 50% more when you redeem them for travel through Chase's Ultimate Rewards portal.
- Transfer points 1:1 to eligible Ultimate Rewards airline and hotel partner programs.
Wells Fargo Cash Back College℠
Best for Students
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Regular APR (%) | 11.15% - 21.15% variable |
Annual Fee | $0 |
INTRO PURCHASE APR | 0% for 6 Months |
Rewards Earning Rate | 3% cash rewards earned for up to $2,500 spent on gas, grocery, and drugstore purchases for the first 6 months. 1% cash rewards for each $1 spent on virtually all other purchases with your card. |
Foreign transaction fee (%) | 3% |
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Busy students need a card that makes using credit worthwhile and educational, and that’s why this one shines. For your first six months with the card, you’ll earn 3% cash back on as much as $2,500 that you spend on gas, groceries and drugstore items. During that introductory period, you’ll also pay no interest on purchases. Access to resources like free FICO credit scores and Wells Fargo’s credit education hub make this a valuable learning tool as well. Just note that you need to be an existing Wells Fargo customer to apply.
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Pros
- No annual fee
- Offers rewards on everyday purchases, unlike many other student cards
- 0% APR promotional offers that are rare for a student card
Cons
- Must have a Wells Fargo account to apply
- Rewards earning rate drops after six months
- Foreign transaction fee means using this card overseas costs extra
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- Build credit history while you’re in college.
- 3% cash rewards earned for up to $2,500 spent on gas, grocery, and drugstore purchases for the first 6 months. Enjoy 1% cash rewards for other purchases.
- Access your FICO Credit Score.
- Existing Wells Fargo relationship needed to apply online.
Discover it® Secured
Best Secured Card
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Discover will match all the cash back you've earned at the end of your first year, automatically.
Regular APR (%) | 22.99% variable |
Annual Fee | $0 |
Minimum Deposit to Activate | $200 |
Allows upgrade to unsecured card | Yes |
Pay deposit in installments | No |
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If you’re a first-time borrower or rebuilding a bad credit profile, finding a top-notch secured card can be tough. Thankfully, this is it. You’ll earn some decent cash back on routine purchases, and at the end of your first year, your earnings will be doubled. You won’t pay an annual fee (many secured cards charge one), and Discover will even waive your first late fee. Plus, after eight months, Discover will begin reviewing your account for a possible upgrade to an unsecured card.
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Pros
- Ability to earn cash-back rewards while building credit
- Responsible use can lead to automatic unsecured card upgrade
- No foreign transaction fee
- Cash-back match as a first year bonus
Cons
- Low cap on highest rewards earning rate
- Mediocre maximum credit limit compared to other secured cards
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- No annual fee, earn cash back, and build your credit with responsible use.
- It's a real credit card. You can build a credit history with the three major credit bureaus. Generally, debit and prepaid cards can't help you build a credit history.
- Automatic reviews starting at 8 months to see if Discover can transition you to an unsecured line of credit and return your deposit.
- Get 100% U.S.-based customer service and get your free Credit Scorecard with your FICO Credit Score.
United℠ Explorer Card
Best for Airline Flights
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40,000 bonus miles after you spend $2,000 on purchases in the first 3 months your account is open.
Regular APR (%) | 16.49% - 23.49% variable |
Annual Fee | $0 for the first year, then $95 |
Rewards Earning Rate | Earn 2 miles per $1 spent at restaurants, on hotel stays, and on United purchases. 1 mile per $1 spent on all other purchases. Enjoy priority boarding privileges and visit the United ClubSM with 2 one-time passes each year for your anniversary |
Foreign transaction fee (%) | 0% |
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We found United miles to be the most valuable of those offered by a major U.S. airline rewards program, which makes this card our top pick for frequent flyers. Not only are they worth an average 2.28 cents each, according to our research, but you’ll get 40,000 extra miles if you spend $2,000 within your first three months with the card. It’s a bonus that we value at $876. What’s more, restaurant, hotel, and United charges all earn 2 miles per $1 spent. It doesn’t hurt that the annual fee is waived for the first year, either.
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Pros
- Miles are worth more than most other major U.S. airline's, according to our calculations
- Lots of great travel perks, such as lounge passes and free checked bags
- Extra miles can be earned on more than just flight purchases
Cons
- Annual fee is waived the first year, but it’s still a notable cost
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- 40,000 bonus miles after you spend $2,000 on purchases in the first 3 months your account is open.
- Get 2 United Club one-time passes each anniversary year.
- Save up to $140 per roundtrip with a free checked bag for you and a travel companion on the same reservation.
- Get 25% back as a statement credit on inflight United purchases.
Citi Simplicity®
Best for Balance Transfers
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Regular APR (%) | 14.74% - 24.74% variable |
Annual Fee | $0 |
Balance Transfer Fee | Either $5 or 3% of the amount of each transfer, whichever is greater. |
INTRO BALANCE TRANSFER APR | 0% for 18 Months |
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This card gives you 18 months to pay off balance transfers, which is one of the longest 0% balance transfer APR offers on the market right now. Long 0% APR periods spread out the financial burden of debt repayment while cutting interest costs. Plus, you’ll have four months after opening an account to take advantage of the balance transfer promotion, which is longer than some similar cards offer. That gives you time to strategize your debt repayment plan.
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Pros
- No annual fee
- Offers 18 months to pay off balance transfers at 0% APR
- No fees or penalty APR for late payments
Cons
- Ongoing APR may be quite high compared to the competition
- Foreign transaction fee makes using the card abroad more costly
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- No late fees.
- No penalty rate.
- No annual fee.
- Plus, get a low intro APR for 18 months on balance transfers and purchases.
CitiBusiness® / AAdvantage® Platinum Select® Mastercard®
Best for Small Business Owners
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Earn 65,000 American Airlines AAdvantage® bonus miles after spending $4,000 in purchases within the first 4 months of account opening.
Regular APR (%) | 15.99% - 24.99% variable |
Annual Fee | $0 for the first year, then $99 |
Rewards Earning Rate | Earn 2 miles per $1 on eligible American Airlines, telecommunication, cable and satellite providers, car rentals and gas station purchases. Earn 1 mile per $1 on other purchases. |
Cash Advance APR (%) | 25.24% |
Cash Advance Fee | Either $10 or 5% of the amount of each transfer, whichever is greater. |
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If American Airlines can be your go-to airline when you travel for business, this card is for you. Frequent flyers will earn valuable miles (they are worth an average of 2.32 cents each, based on our data) on not just flights, but business expenses such as telephone and cable services, car rentals and gas bills. They'll also get travel perks like preferred boarding and free checked bags. What's more, the 65,000-mile bonus for new cardholders—earned after spending $4,000 within four months of opening an account—is worth about $1,500, according to our estimates.
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Pros
- American Airlines miles are worth more than most airline miles, according to The Balance’s valuations
- Great bonus for an airline-branded business card
- Free checked bag perk (for you and four travel companions) can easily make annual fee worth it
- Several travel and business expenses earn double miles
Cons
- No travel insurance benefits
- No airport lounge passes, travel credits or card perks like cellphone insurance
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- First checked bag free on domestic American Airlines itineraries for you and up to 4 travel companions.
- Preferred boarding on American Airlines flights so you can save time and be more productive.
- 25% savings on American Airlines inflight Wi-Fi purchases when you use your card.
- 25% savings on inflight food and beverage purchases on American Airlines flights when you use your card.
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How Do Credit Cards Work?
Credit cards allow you to make purchases without having to immediately pay for them with cash or money from your checking account. Essentially, you’re using the credit card company’s money, and then you pay it back.
The credit card company (also called a credit card issuer) will send you a bill about once a month telling you how much you owe and when to send your payment by. If you can’t cover the whole bill, the issuer adds interest charges to your account. Those are the basics, but this explainer on how credit cards work will help you understand everything you need to know about the cost of carrying a credit card balance.
How Do You Choose the Best Credit Card?
Choosing a credit card requires you to take an honest look at your habits and needs, and see how those line up with the products out there. To get started, here are six tips for matching your needs to the right type of credit card.
- Building credit? Look at secured credit cards.
- Travelers: Consider travel reward cards or cards with no foreign transaction fee.
- Thrifty shoppers can save big with cash-back cards.
- Need to buy something big? Look at cards with low introductory interest rates.
- Pay off card debt with a balance transfer card.
- Plan for emergencies with a low-APR credit card.
To help you further understand the credit card selection process, we put together this guide to picking a credit card and an overview specifically for first-time card applicants. Here's another summary of our top credit card picks:
Best Credit Cards | ||
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Credit Card | Category | Annual Fee |
Capital One Quicksilver Cash Rewards Credit Card | Best Overall | $0 |
Discover it Miles | Second Best Overall | $0 |
Wells Fargo Cash Back College | Best for Students | $0 |
Discover it Secured | Best Secured Card | $0 |
Chase Sapphire Reserve | Best for Travelers | $550 |
United Explorer Card | Best for Airline Flights | $0 for the first year, then $95 |
Citi Simplicity | Best for Balance Transfers | $0 |
CitiBusiness / AAdvantage Platinum Select Mastercard | Best for Small Business Owners | $0 for the first year, then $99 |
Capital One Quicksilver Cash Rewards Credit Card | Best for Cash Back | $0 |
Is a Credit Card Right for You?
Before you can make a decision about opening any credit card, you need to understand the value and drawbacks of credit cards as a whole.
Allow you to build credit
Offer rewards
Enable you to make large purchases
Could lead to debt
Charge costly fees
Are difficult to fully understand
For a more detailed explanation, check out our guide to the pros and cons of credit cards.
What Credit Score Do You Need?
The better your credit score, the more credit card options you have. And if you want a credit card with the highest rewards earning rate and best perks, you’ll likely need to have a very good credit score. Many of our credit card reviews tell you what kind of credit score (fair, good, very good, etc.) you need to qualify for that card.
If you don’t know your credit score, read our article on how to check your credit score. These days, there are many options that will cost you nothing. Once you know your score, you can figure out what category it tends to fall into. There are a couple of different credit score models (FICO and VantageScore) and each has its own range. This is all explained in detail in our guide to credit scores. But for a quick overview, here are the ranges of scores for the two different scoring models:
FICO Score Ranges | |
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Exceptional | 800+ |
Very Good | 740-799 |
Good | 670-739 |
Fair | 580-669 |
Poor | Under 580 |
VantageScore Ranges | |
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Excellent | 750-850 |
Good | 700-749 |
Fair | 650-699 |
Poor | 550-649 |
Very Poor | Under 550 |
Note
Credit score isn’t the only factor credit card issuers look at when evaluating your application, but issuers aren’t transparent about what those factors are.
While credit card companies don’t clearly state what you need to do to get approved, you’ll improve your chances by having a job, a reliable source of income, and a bank account. We describe these best practices in detail in this article on how to qualify for a credit card.
Can You Get a Credit Card With Bad Credit?
You often can get a credit card with bad credit. Secured credit cards are usually available for people with poor credit because you have to put down a deposit that’s typically equal to your credit limit. If you use the card responsibly, over time you’ll build your credit and can apply for a better card.
How Do Credit Card Rewards Work?
Most credit card rewards programs follow the same basic structure: For every dollar you spend on your credit card, you earn a percentage of that purchase in cash back, points, or miles. You can then redeem cash, points, or miles for a variety of things.
Every credit card rewards program is different, so it’s best to read individual credit card reviews to understand their programs. This overview of rewards cards basics will help you learn about the different rewards programs out there and, most important, whether or not it’s worth signing up for a rewards card.
What Are Some Common Credit Card Benefits?
You know all that fine print you see when you go to a credit card’s website? It includes a lot of details about card benefits you might not realize you have access to. We have a full rundown of credit card perks you should know about, but here’s a quick list of common benefits.
Common Perks on Many Kinds of Credit Cards
- Car rental insurance
- Zero fraud liability
- Roadside assistance hotline
Common Rewards Card Perks
- Insurance for stolen or damaged purchases
- Lowest advertised price match
- Extended warranties on purchases
- Refund when merchant won’t accept returned item
Common Travel Rewards Card Perks
- Insurance coverage for lost or delayed luggage
- Insurance coverage for trip cancellation, interruption, or delay
- Travel accident insurance
How Do You Apply For a Credit Card?
Follow these steps to apply for a credit card:
- Check your credit score.
- Choose which kind of card you want to apply for.
- Research a few different cards from different companies.
- Decide on one to apply for.
- Visit the card application webpage.
- Enter your personal information, including your Social Security number and annual income.
- Be patient. It can take a couple of weeks to receive a final decision.
This guide will walk you through all the steps of getting ready and actually applying for a credit card.
Methodology
We collect data on hundreds of cards and score more than 55 features that affect your finances. We do this because it's our mission to give you unbiased, comprehensive credit card reviews.
Our reviews are always impartial. No one can influence which cards we review, the way we present them to you, or the ratings they receive.
About This List
We reviewed more than 200 credit cards to identify the one with the best combination of low fees, good rewards, and relatively low interest rates—that's what people say is most important to them when choosing a new credit card.
The top card on this list is the outright winner, based on the dozens of card attributes we evaluate in our scoring process. The other cards on this list have the top scores in specific categories, and each category has its own methodology.
Important
While annual fee is a top driver in determining the best credit card overall, it's not as important in our list of the best travel cards. That's because our research and analysis shows that travel cards with no annual fee tend to have little value. To understand how we scored cards in each round-up (i.e., Best Credit Cards for Travel), see the methodology at the bottom of each page.
What We Score
The most important components of a credit card's overall score are the fees, rewards, and interest rates.
Fees
We look at the average cost of a card's annual fee over three years, to account for credit cards that waive the annual fee the first year. The lower the average annual fee, the better the score it receives. The total number of fees a card has also has a significant bearing on a credit card's score, including whether or not the card has foreign transaction fees or waives the first late-payment fee.
Rewards
First, we look at the value of a card's rewards. We determine reward value by researching options for redeeming a credit card's rewards, as well as Americans' travel and spending habits.
Next, we evaluate the rate at which you can earn rewards. If a card has multiple rewards-earning rates (aka tiers), we determine the score based on the highest rate. But we also look at how many rewards tiers the card has, and a card with fewer tiers receives a higher score. We also look at if there are limits on rewards earning, how many options you have for redeeming rewards, whether there's a minimum amount of rewards you must have to redeem them, and if rewards expire. Rewards-earning limits, few redemption options, minimum redemption thresholds, and rewards expiration lead to low scores.
Interest
People don't often start using a credit card with the intention of going into debt, but it happens. That's why it's important to consider a card's annual percentage rate (APR), not only on all purchases but also for balance transfers and cash advances. (The higher the APR, the lower the score.) And if a card offers 0% APR periods on purchases or balance transfers, we consider that a good thing.
Other Things We Consider
While fees, rewards, and interest rates make up the vast majority of our scores, we also consider the overall experience of using a card. Our scoring model favors features like a mobile app, a free credit score, and 24/7 customer service, to name a few. For more information about how The Balance evaluates credit cards, see our full credit card review methodology.