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as well as rates and fees are all taken into account. Compensation from the issuer does not affect
our rating. We only recommend products we either use ourselves or endorse.
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When it comes to recommending the best rewards cards available, merely publishing a list is not indicative of our Upgraded Points style. We know that the more information you have, the easier it will be to make an educated decision on the best possible rewards cards for your own situation.
Of course, we’re ready to provide all that fundamental card information, but we’d also like to take it a step further and provide a broader view of our featured cards.
That’s why our collection of recommended rewards cards has all the essential information on earning rewards, redeeming those rewards, and benefits that come with each card, but we’ve added more.
We’ll tell you why we like the card, describe the attributes of a typical cardholder, and then throw in a good value redemption example that might expand your travel imagination as to what is possible.
Remember that you can access our complete list of credit card reviews to research additional options and read what our experts think of those cards.
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
The Amex Platinum reigns supreme for luxury travel, offering the best airport lounge access plus generous statement credits, and complimentary elite status.
The Amex Platinum reigns supreme for luxury travel, offering the best airport lounge access plus generous statement credits, and complimentary elite status.
Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on the Card in your first 6 months of Card Membership.
80,000 points
$1,760
$695
See Pay Over Time APR
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Good to Excellent (670-850)
Why We Like This Card
When it comes to cards that offer top-notch benefits, you’d be hard-pressed to find a better card out there than The Platinum Card® from American Express.
Make no mistake — the Amex Platinum card is a premium card with a premium price tag. With amazing benefits like best-in-class airport lounge access, hotel elite status, and tremendous value in annual statement credits, it can easily prove to be one of the most lucrative cards in your wallet year after year.
Pros & Cons
Pros
The best airport lounge access out of any card (by far) — enjoy access to over 1,400 worldwide lounges, including the luxurious Amex Centurion Lounges,Priority Pass lounges, Plaza Premium Lounges, and many more!
5x points per dollar spent on flights purchased directly with the airline or with AmexTravel.com (up to $500,000 per year)
5x points per dollar spent on prepaid hotels booked with AmexTravel.com
Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on your new Card in your first 6 months of Card Membership.
Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year and earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel.
$200 Hotel Credit: Get up to $200 back in statement credits each year on prepaid Fine Hotels + Resorts® or The Hotel Collection bookings through American Express Travel using your Platinum Card®. The Hotel Collection requires a minimum two-night stay.
$240 Digital Entertainment Credit: Get up to $20 back in statement credits each month on eligible purchases made with your Platinum Card® on one or more of the following: Disney+, a Disney Bundle, ESPN+, Hulu, The New York Times, Peacock, and The Wall Street Journal. Enrollment required.
The American Express Global Lounge Collection® can provide an escape at the airport. With complimentary access to more than 1,400 airport lounges across 140 countries and counting, you have more airport lounge options than any other credit card issuer on the market. As of 03/2023.
$155 Walmart+ Credit: Save on eligible delivery fees, shipping, and more with a Walmart+ membership. Use your Platinum Card® to pay for a monthly Walmart+ membership and get up to $12.95 plus applicable taxes back on one membership (excluding Plus Ups) each month.
$200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to your Platinum Card®.
$200 Uber Cash: Platinum Card® Members can get out and about and explore their local area with $15 in Uber Cash for US rides each month, plus a bonus $20 in December. That can be up to $200 in annual Uber savings. Simply download the Uber app and add your Platinum Card® to your Uber account to get started. Available to Basic Card Member only. Effective 11/8/2024, an Amex Card must be selected as the payment method for your Uber or Uber Eats transaction to redeem the Amex Uber Cash benefit.
$199 CLEAR® Plus Credit: CLEAR® Plus helps to get you to your gate faster at 50+ airports nationwide and get up to $199 back per calendar year on your Membership (subject to auto-renewal) when you use your Card. CLEARLanes are available at 100+ airports, stadiums, and entertainment venues.
Receive either a $120 statement credit every 4 years for a Global Entry application fee or a statement credit up to $85 every 4.5 years for a TSA PreCheck® (through a TSA official enrollment provider) application fee, when charged to your Platinum Card®. Card Members approved for Global Entry will also receive access to TSA PreCheck at no additional cost.
Shop Saks with Platinum: Get up to $100 in statement credits annually for purchases in Saks Fifth Avenue stores or at saks.com on your Platinum Card®. That's up to $50 in statement credits semi-annually. Enrollment required.
Unlock access to exclusive reservations and special dining experiences with Global Dining Access by Resy when you add your Platinum Card® to your Resy profile.
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
This is the best card for food lovers who dine out at restaurants (worldwide), order take-out and want big rewards at U.S. supermarkets!
This is the best card for food lovers who dine out at restaurants (worldwide), order take-out and want big rewards at U.S. supermarkets!
Earn 60,000 Membership Rewards® points after you spend $6,000 on eligible purchases on your new Card in your first 6 months of Card Membership.
60,000 points
$1,200
$325
See Pay Over Time APR
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
With this card, you can earn 4x Membership Rewards points at restaurants, up to $50,000 per calendar year, and you’ll also earn 4x Membership Rewards points atU.S. supermarkets on up to $25,000 per calendar year, then 1x.
There isn’t another card on the market that offers a 1-2 punch like this. Of course, there are several other benefits of the Gold Card as well, including extra monthly dining rewards and more.
Pros & Cons
Pros
4x points per dollar at restaurants worldwide, up to $50,000 per calendar year; then 1x thereafter
4x points per dollar at U.S. supermarkets, up to $25,000 per calendar year; then 1x thereafter
3x points per dollar on flights purchased directly from airlines or at AmexTravel.com
Earn 60,000 Membership Rewards® points after you spend $6,000 on eligible purchases on your new Card in your first 6 months of Card Membership.
Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
$120 Uber Cash on Gold: Add your Gold Card to your Uber account and each month automatically get $10 in Uber Cash for Uber Eats orders or Uber rides in the U.S., totaling up to $120 per year. Effective 11/8/2024, an Amex Card must be selected as the payment method for your Uber or Uber Eats transaction to redeem the Amex Uber Cash benefit.
$84 Dunkin' Credit: With the $84 Dunkin' Credit, you can earn up to $7 in monthly statement credits after you enroll and pay with the American Express® Gold Card at U.S. Dunkin' locations.
$100 Resy Credit: Get up to $100 in statement credits each calendar year after you pay with the American Express® Gold Card to dine at U.S. Resy restaurants or make other eligible Resy purchases. That's up to $50 in statement credits semi-annually. Enrollment required.
$120 Dining Credit: Satisfy your cravings, sweet or savory, with the $120 Dining Credit. Earn up to $10 in statement credits monthly when you pay with the American Express® Gold Card at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.
Explore over 1,000 upscale hotels worldwide with The Hotel Collection and receive a $100 credit towards eligible charges with every booking of two nights or more through AmexTravel.com. Eligible charges vary by property.
No Foreign Transaction Fees.
Annual Fee is $325.
Apply with confidence. Know if you're approved for a Card with no impact to your credit score. If you're approved and you choose to accept this Card, your credit score may be impacted.
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
A fantastic travel card with a great welcome offer, good benefits, and perks for a moderate annual fee.
A fantastic travel card with a great welcome offer, good benefits, and perks for a moderate annual fee.
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
60,000 bonus points
$1,200
$95
20.99% - 27.99% Variable
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Good to Excellent (670-850)
Why We Like This Card
The Chase Sapphire Preferred® card is one of the best travel rewards cardson the market. Its bonus categories include travel, dining, online grocery purchases, and streaming services, which gives you the opportunity to earn lots of bonus points on these purchases.
Additionally, it offers flexible point redemption options, no foreign transaction fees, and excellent travel insurance coverage including primary car rental insurance. With benefits like these, it’s easy to see why this card is an excellent choice for any traveler.
Pros & Cons
Pros
5x points on all travel booked via the Chase Travel portal
5x points on select Peloton purchases over $150 (through March 31, 2025)
5x points on Lyft purchases (through March 31, 2025)
Cons
$95 annual fee
No elite benefits like airport lounge access or hotel elite status
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
Enjoy benefits such as 5x on travel purchased through Chase Travel℠, 3x on dining, select streaming services and online groceries, 2x on all other travel purchases, 1x on all other purchases, $50 Annual Chase Travel Hotel Credit, plus more.
Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Travel℠. For example, 60,000 points are worth $750 toward travel.
Count on Trip Cancellation/Interruption Insurance, Auto Rental Collision Damage Waiver, Lost Luggage Insurance and more.
Get complimentary access to DashPass which unlocks $0 delivery fees and lower service fees for a minimum of one year when you activate by December 31, 2027.
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
The Capital One Venture X card is an excellent option for travelers looking for an all-in-one premium credit card.
The Capital One Venture X card is an excellent option for travelers looking for an all-in-one premium credit card.
Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel.
75,000 miles
$1,350
$395
19.99% - 29.74% (Variable)
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Excellent (740-840)
Why We Like This Card
The Capital One Venture X Rewards Credit Card is the premium Capital One travel rewards card on the block.
Points and miles fans will be surprised to see that the Capital One Venture X card packs quite the punch when it comes to bookings made through Capital One, all while offering the lowest annual fee among premium credit cards.
Depending on your travel goals and preferences, the Capital One Venture X card could very well end up being your go-to card in your wallet.
Pros & Cons
Pros
10x miles per $1 on hotels and rental cars purchased through Capital One Travel
5x miles per $1 on flights and vacation rentals purchased through Capital One Travel
Does not offer bonus categories for flights or hotel purchases made directly with the airline or hotel group, the preferred booking method for those looking to earn elite status
Earn 75,000 bonus miles when you spend $4,000 on purchases in the first 3 months from account opening, equal to $750 in travel
Receive a $300 annual credit for bookings through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options
Get 10,000 bonus miles (equal to $100 towards travel) every year, starting on your first anniversary
Earn unlimited 10X miles on hotels and rental cars booked through Capital One Travel and 5X miles on flights and vacation rentals booked through Capital One Travel
Earn unlimited 2X miles on all other purchases
Unlimited complimentary access for you and two guests to 1,300+ lounges, including Capital One Lounges and the Partner Lounge Network
Use your Venture X miles to easily cover travel expenses, including flights, hotels, rental cars and more—you can even transfer your miles to your choice of 15+ travel loyalty programs
Enjoy a $100 experience credit and other premium benefits with every hotel and vacation rental booked from the Premier Collection
Receive up to a $120 credit for Global Entry or TSA PreCheck®
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
Get 2x miles plus some of the most flexible redemptions offered by a travel credit card!
Get 2x miles plus some of the most flexible redemptions offered by a travel credit card!
Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel.
75,000 miles
$1,350
$95
19.99% - 29.74% (Variable)
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Good to Excellent Credit (670-850)
Why We Like This Card
The Capital One Venture Rewards Credit Cardis one of the most popular rewards cards on the market. It’s perfect for anyone in search of a great welcome offer, high rewards rates, and flexible redemption options.
Frequent travelers with excellent credit may benefit from this credit card that offers a lot of bells and whistles. And it offers easy-to-understand rewards earning and redemption.
Pros & Cons
Pros
5x miles per $1 on hotels, vacation rentals, and rental cars booked through Capital One Travel
2x miles per $1 on all other purchases
Up to a $120 Global Entry or TSA PreCheck application fee credit
Enjoy a one-time bonus of 75,000 miles once you spend $4,000 on purchases within 3 months from account opening, equal to $750 in travel
Earn unlimited 2X miles on every purchase, every day
Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options
Miles won't expire for the life of the account and there's no limit to how many you can earn
Receive up to a $120 credit for Global Entry or TSA PreCheck®
Use your miles to get reimbursed for any travel purchase—or redeem by booking a trip through Capital One Travel
Enjoy a $50 experience credit and other premium benefits with every hotel and vacation rental booked from the Lifestyle Collection
Transfer your miles to your choice of 15+ travel loyalty programs
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
This all-purpose cash-back card offers great bonus categories, including bonus points for every purchase you make!
This all-purpose cash-back card offers great bonus categories, including bonus points for every purchase you make!
Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
Up to $300 cash-back
$0
0% Intro APR for 15 months on purchases and balance transfers, then a variable APR of 19.99% - 28.74%.
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Good to Excellent (670-850)
Why We Like This Card
The Chase Freedom Unlimited® is easily one of the best cash-back credit cards on the market. There aren’t many no-annual-fee credit cards that offer multiple great bonus categories like 5% back on travel purchased through Chase, 3% back on dining and drugstore purchases, and 1.5% back on all other purchases.
When paired with other Chase cards in the Ultimate Rewards family, you can transfer that cash back into points if you wish – making it one of the most lucrative cards in your wallet.
Pros & Cons
Pros
0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 19.99% - 28.74%.
INTRO OFFER: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year) - worth up to $300 cash back!
Enjoy 6.5% cash back on travel purchased through Chase Travel℠, our premier rewards program that lets you redeem rewards for cash back, travel, gift cards and more; 4.5% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and 3% on all other purchases (on up to $20,000 spent in the first year).
After your first year or $20,000 spent, enjoy 5% cash back on travel purchased through Chase Travel℠, 3% cash back on drugstore purchases and dining at restaurants, including takeout and eligible delivery service, and unlimited 1.5% cash back on all other purchases.
No minimum to redeem for cash back. You can choose to receive a statement credit or direct deposit into most U.S. checking and savings accounts. Cash Back rewards do not expire as long as your account is open!
Enjoy 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 19.99% - 28.74%.
No annual fee – You won't have to pay an annual fee for all the great features that come with your Freedom Unlimited® card
Keep tabs on your credit health, Chase Credit Journey helps you monitor your credit with free access to your latest score, alerts, and more.
Member FDIC
Financial Snapshot
APR: 0% Intro APR for 15 months on purchases and balance transfers, then a variable APR of 19.99% - 28.74%.
Foreign Transaction Fees: 3% of each transaction in U.S. dollars
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
This card is ideal for business travelers who enjoy luxury travel and are looking for a card loaded with benefits!
This card is ideal for business travelers who enjoy luxury travel and are looking for a card loaded with benefits!
Earn 150,000 Membership Rewards® points after you spend $20,000 in eligible purchases on the Card within the first 3 months of Card Membership.
150,000 points
$3,300
$695
18.74% - 27.74% Variable
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
When you factor in the large number of perks that the card offers like the best airport lounge access at over 1,400 lounges, along with tons of annual credits, it’s easy to see why this card can is a top option for frequent traveling business owners.
Pros & Cons
Pros
5x Membership Rewards points per $1 on flights and prepaid hotels at Amex Travel
Access to over 1,400 worldwide airport lounges as part of the American Express Global Lounge Collection
Get 50% more Membership Rewards points (1.5 points per $1) on eligible purchases in key business categories, as well as on purchases of $5,000 or more (cap applies)
Welcome Offer: Earn 150,000 Membership Rewards® points after you spend $20,000 in eligible purchases on the Card within the first 3 months of Card Membership.
5X Membership Rewards® points on flights and prepaid hotels on AmexTravel.com, and 1X points for each dollar you spend on eligible purchases.
Earn 1.5X points (that’s an extra half point per dollar) on each eligible purchase at US construction material, hardware suppliers, electronic goods retailers, and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more, on up to $2 million per Card Account per calendar year. Purchases eligible for multiple additional point bonuses will only receive the highest eligible bonus.
Unlock over $1,000 in statement credits on select purchases, including tech, recruiting and wireless in the first year of membership with the Business Platinum Card®. Enrollment required. See how you can unlock over $1,000 annually in credits on select purchases with the Business Platinum Card®, here.
$200 Airline Fee Credit: Select one qualifying airline and then receive up to $200 in statement credits per calendar year when incidental fees are charged by the airline to the Card.
$199 CLEAR® Plus Credit: Use your card and get up to $199 in statement credits per calendar year on your CLEAR® Plus Membership (subject to auto-renewal) when you use the Business Platinum Card®.
The American Express Global Lounge Collection® can provide an escape at the airport. With complimentary access to more than 1,400 airport lounges across 140 countries and counting, you have more airport lounge options than any other credit card issuer on the market as of 03/2023.
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
The Ink Business Preferred card is hard to beat, with a huge welcome bonus offer and 3x points per $1 on the first $150,000 in so many business categories.
The Ink Business Preferred card is hard to beat, with a huge welcome bonus offer and 3x points per $1 on the first $150,000 in so many business categories.
Earn 90k bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $900 cash back or $1,125 toward travel when redeemed through Chase Travel℠.
90,000 points
$1,800
$95
20.74% - 26.74% Variable
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Good to Excellent (670-850)
Why We Like This Card
The Ink Business Preferred® Credit Card is a powerhouse for earning lots of points from your business purchases, especially for business owners that spend regularly on ads.
Plus the card offers flexible redemption options, including access to Chase airline and hotel transfer partners where you can achieve outsized value.
Business owners will also love the protections the card provides like excellent cell phone insurance, rental car insurance, purchase protection, and more.
Pros & Cons
Pros
3x Ultimate Rewards points per $1 on up to $150,000 in combined purchases on internet, cable and phone services, shipping expenses, travel, and ads purchased with search engines or social media sites
Cell phone protection
Purchase protection
Cons
No elite travel benefits like airport lounge access
Earn 90k bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $900 cash back or $1,125 toward travel when redeemed through Chase Travel℠
Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year. Earn 1 point per $1 on all other purchases
Round-the-clock monitoring for unusual credit card purchases
With Zero Liability you won't be held responsible for unauthorized charges made with your card or account information.
Redeem points for cash back, gift cards, travel and more - your points don't expire as long as your account is open
Points are worth 25% more when you redeem for travel through Chase Travel℠
Purchase Protection covers your new purchases for 120 days against damage or theft up to $10,000 per claim and $50,000 per account.
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
Get 4x points in 2 select categories where your business spends the most each month (on your first $150,000 spent each year).
Get 4x points in 2 select categories where your business spends the most each month (on your first $150,000 spent each year).
Earn 100,000 Membership Rewards® points after you spend $15,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership.*
100,000 points
$2,200
$375
18.74% - 27.74% Variable,0% on purchases for 6 months from date of account opening
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
The card earns a whopping 4x points per $1 in the 2 categories (from a list of 6) that your business spends the most money on each month. With no need to opt-in or preselect your categories, so you can focus on what matters most — running your business.
Pros & Cons
Pros
4x points per dollar spent on your 2 highest purchase categories each month up to $150,000 each calendar year in purchases; categories include:
Transit purchases including trains, taxicabs, rideshare services, ferries, tolls, parking, buses, and subways
U.S. purchases made from electronic goods retailers and software & cloud system providers
Monthly wireless telephone service charges made directly from a wireless telephone service provider in the U.S.
U.S. purchases at gas stations
U.S. purchases at restaurants, including takeout and delivery
Purchases at U.S. media providers for advertising in select media (online such as Google Ads, Facebook Ads, plus TV and radio)
3x points per dollar on flights and prepaid hotels booked on amextravel.com using your Business Gold Card
Welcome Offer: Earn 100,000 Membership Rewards® points after you spend $15,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership.*
0% Intro APR ¤ for 6 months from the date of account opening on purchases eligible for Pay Over Time, then a 18.74% to 27.74% variable APR.*
Earn 4X Membership Rewards® points on the top two eligible categories where your business spends the most each month from 6 eligible categories. While your top 2 categories may change, you will earn 4X points on the first $150,000 in combined purchases from these categories each calendar year (then 1X thereafter). Only the top 2 categories each billing cycle will count towards the $150,000 cap.*
Earn 3X Membership Rewards® points on flights and prepaid hotels booked on amextravel.com using your Business Gold Card.*
Earn up to $20 in statement credits monthly after you use the Business Gold Card for eligible U.S. purchases at FedEx, Grubhub, and Office Supply Stores. This can be an annual savings of up to $240. Enrollment required.
Get up to a $12.95** statement credit back each month after you pay for a monthly Walmart+ membership (subject to auto-renewal) with your Business Gold Card. **Up to $12.95 plus applicable taxes on one membership fee.*
The Business Gold Card now comes in three metal designs: Gold, Rose Gold and Limited Edition White Gold. White Gold design is only available while supplies last. Make your selection when you apply on Americanexpress.com.
*Terms Apply
Financial Snapshot
APR: 18.74% - 27.74% Variable,0% on purchases for 6 months from date of account opening
The rating for this card has been determined by our own industry experts who know the in's and out's of credit card products. Bonuses, rewards as well as rates and fees are all taken into account. Compensation from the issuer does not affect our rating. We only recommend products we either use ourselves or endorse.
The Ink Business Unlimited card is a stellar option for business owners looking for a no-fuss uncapped 1.5% cash-back card without an annual fee.
The Ink Business Unlimited card is a stellar option for business owners looking for a no-fuss uncapped 1.5% cash-back card without an annual fee.
Earn $750 bonus cash back after you spend $6,000 on purchases in the first 3 months from account opening.
$750
$750
$0
0% intro APR on purchases for 12 months; variable 17.99% - 23.99% thereafter
Upgraded Points credit ranges are a variation of FICO®Score 8, one of many types of credit scores lenders may use when considering your credit cardapplication.
Good to Excellent (670-850)
Why We Like This Card
As a business owner, you likely keep pretty busy and probably prefer a credit card that just keeps things simple.
If so, the Ink Business Unlimited® Credit Card might be just the card for you. From zero annual fee to a flat cash-back rate, the card is a no-frills option that you don’t have to think twice about.
Don’t forget too, 0% intro APR on purchases for 12 months; variable 17.99% - 23.99% thereafter
Pros & Cons
Pros
1.5% cash-back on all purchases
No annual fee
0% intro APR on purchases for 12 months; variable 17.99% - 23.99% thereafter
Earn 5X miles on hotels, vacation rentals and rental cars booked through Capital One Travel, where you'll get Capital One's best prices on thousands of trip options
Earn unlimited 2X miles on every purchase, every day
Earn 80,000 Membership Rewards® Points after you spend $8,000 on eligible purchases on the Card in your first 6 months of Card Membership.
Annual fee of $695
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The Platinum Card® from American Express
Earn 5X Membership Rewards® Points for flights booked directly with airlines or with American Express Travel up to $500,000 on these purchases per calendar year
Earn 5X Membership Rewards® Points on prepaid hotels booked with American Express Travel
Earn 1X Membership Rewards® Point on other purchases
Earn 60,000 Membership Rewards® points after you spend $6,000 on eligible purchases on your new Card in your first 6 months of Card Membership.
Annual fee of $325
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American Express® Gold Card
Earn 4X Membership Rewards® points per dollar spent on purchases at restaurants worldwide, on up to $50,000 in purchases per calendar year, then 1X points for the rest of the year.
Earn 4X Membership Rewards® points per dollar spent at US supermarkets, on up to $25,000 in purchases per calendar year, then 1X points for the rest of the year.
Earn 3X Membership Rewards® points per dollar spent on flights booked directly with airlines or on AmexTravel.com.
Earn 2X Membership Rewards® points per dollar spent on prepaid hotels and other eligible purchases booked on AmexTravel.com.
Earn 1X Membership Rewards® point per dollar spent on all other eligible purchases.
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
Annual fee of $550
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Chase Sapphire Reserve®
Earn 5x total points on flights and 10x total points on hotels and car rentals when you purchase travel through Chase Travel℠ immediately after the first $300 is spent on travel purchases annually.
Earn 90k bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That's $900 cash back or $1,125 toward travel when redeemed through Chase Travel℠.
Annual fee of $95
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Ink Business Preferred® Credit Card
Earn 3 points per $1 on the first $150,000 spent in combined purchases on travel, shipping purchases, Internet, cable and phone services, advertising purchases made with social media sites and search engines each account anniversary year.
Earn 1 point per $1 on all other purchases—with no limit to the amount you can earn.
Earn 150,000 Membership Rewards® points after you spend $20,000 in eligible purchases on the Card within the first 3 months of Card Membership.
Annual fee of $695
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The Business Platinum Card® from American Express
Earn 5X Membership Rewards® points on flights and prepaid hotels on AmexTravel.com, and
Earn 1.5X points on each eligible purchase at:
U.S. construction material
Hardware suppliers
Electronic goods retailers
Software & cloud system providers
Shipping providers
Earn 1.5X points on purchases of $5,000 or more, on up to $2 million per Card Account per calendar year. Purchases eligible for multiple additional point bonuses will only receive the highest eligible bonus.
Earn 1X points for each dollar you spend on eligible purchases.
Earn 100,000 Membership Rewards® points after you spend $15,000 on eligible purchases with the Business Gold Card within the first 3 months of Card Membership.*
Annual fee of $375
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American Express® Business Gold Card
Earn 4X Membership Rewards® points on the top two eligible categories where your business spends the most each month from 6 eligible categories. While your top 2 categories may change, you will earn 4X points on the first $150,000 in combined purchases from these categories each calendar year (then 1X thereafter). Only the top 2 categories each billing cycle will count towards the $150,000 cap.
Earn 3X Membership Rewards® points on flights and prepaid hotels booked on amextravel.com using your Business Gold Card.
Earn 1X Membership Rewards® points on all other eligible purchases.
Earn $350 when you spend $3,000 on purchases in the first three months and an additional $400 when you spend $6,000 on purchases in the first six months after account opening.
Annual fee of $0
1%-5%cash-back
Ink Business Cash® Credit Card
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.
We frequently recommend the Chase Sapphire Preferred card as a first choice for a rewards card when you’re just starting out.
You’ll find accelerated earnings on travel and dining, flexible redemption options for maximizing the rewards you earn, and a suite of travel benefits you’d normally find on high-annual-fee premium credit cards.
Top Reasons To Get the Chase Sapphire Preferred Card
5x points on travel purchased through Chase Travel Portal, and 2x points on all other travel purchases
3x points on dining, online grocery store purchases, and select streaming services
5x points on Lyft purchases (through March 31, 2025)
Complimentary DoorDash DashPass subscription
Travel and shopping protections you can use immediately
Why We Recommend the Card for Beginners
Developing a financial relationship with a leading financial institution such as Chase early on will reap benefits in the long run.
The card provides a foundation of travel and shopping protections and benefits you won’t find on many cards. You’ll receive complimentary primary car rental insurance, trip cancellation and trip interruption coverage, baggage insurance, trip delay coverage, extended warranty, purchase protection, and much more.
The Perfect Cardholder
The frequent traveler who wants a rewards card with elevated earnings on travel and dining and travel protections they can use might find the Chase Sapphire Preferred card a good match.
The perfect cardholder may also prefer a card that comes with a lower annual fee than premium rewards cards. Credit cards with lounge access and luxury travel benefits are not important to the ideal cardholder, but being able to redeem points for travel and receive good value is one of their priorities.
Good Value Redemption Option
Fly from the U.S. to Africa round-trip in business class for just 50,000 miles on South African Airways. You can transfer Chase points points to Virgin Atlantic (1:1 ratio) and redeem Virgin Points for your flight from Washington, D.C. (IAD) to Dakar (DSS).
This is just one of the many ways you can redeem your Ultimate Rewards for great value.
The simplicity of its earning structure and the ease of redeeming rewards makes the Capital One Venture card a worthy choice for the beginner seeking a solid rewards-earning card.
Top Reasons To Get the Capital One Venture Card
5x miles on hotels, vacation rentals, and rental cars booked through Capital One Travel
Proclaimed as one of the best rewards cards in the marketplace, the Amex Platinum card hits a home run with its luxury travel perks, multiple times earning on airfare and hotels, airline statement credits, and its flexible redemption options. This card, unlike typical credit cards, allows you to carry a balance for certain charges, but not all.
We like the luxury travel perks that come with the card, such as the ability to hang out at prestigious Centurion Lounges and access over 1,400 additional worldwide airport lounge properties.
The frequent business traveler who spends a lot on airfare and values premium travel benefits, such as lounge access, hotel elite status, and travel statement credits, will benefit most from having the card.
Anyone currently paying for an annual airport lounge membership will also find the card an excellent value proposition.
Good Value Redemption Option
Since Etihad Guest is an Amex transfer partner, you can book an enjoyable business class experience for less than 30,000 Membership Rewards points and book a business class flight from Prague (PRG) to Seoul (ICN) on Czech Airlines. That’s over 10 hours in business class for just 30,000 points!
Chase’s premium travel rewards card offers a nice collection of travel benefits, bonus level earnings on the purchases that travelers make most, and redemption options that deliver exceptional value when using your rewards for travel.
Top Reasons To Get the Chase Sapphire Reserve Card
5x total points on air travel and 10x total points on hotels and car rentals when you purchase travel through Chase Travel immediately after the first $300 is spent on travel purchases annually
3x points on other travel and dining.
10x earnings on Lyft purchases (through March 31, 2025)
We like that the card has unlimited complimentary access for the cardholder plus 2 guests to over 1,400 Priority Pass lounges worldwide. Authorized users also have full Priority Pass Select membership benefits.
Additionally, the $300 travel statement credit that comes with the card can be used for any travel purchase, not just airline incidental fees like other travel rewards cards.
We also appreciate the added value you receive when redeeming Ultimate Rewards for travel. Points redeemed via Chase Travel are worth 50% more, plus there’s the additional option of transferring points to airline and hotel partners.
The package of travel protections and benefits offered with the Chase Sapphire Reserve card is genuinely impressive. Having primary car rental insurance, trip cancellation, interruption, and delay coverage, lost/delayed baggage insurance, and emergency evacuation coverage are just some of the useful travel benefits you’ll find complimentary on the card.
The Perfect Cardholder
The frequent traveler who is currently paying for annual lounge membership or wants to add airport lounge access to their travels will realize significant savings by having the card. Annual lounge membership for a family can cost $1,000 or more.
Those who spend a lot on travel and dining will also find value with the card due to bonus category earnings for those purchases.
Good Value Redemption Option
Flying in Avianca business class to South America from the U.S. is a great use of Chase Ultimate Rewards. Transfer points to United Airlines at a ratio of 1:1 and book your flights on Avianca using just 70,000 MileagePlus miles for a round-trip journey.
Perhaps your spending habits are more of the everyday variety. If so, you’ll find the Amex Gold card with its bonus-level earnings on U.S. supermarkets and worldwide restaurant purchases an expeditious way to earn lots of rewards.
You’ll still earn big on travel purchases, and when it comes redemption time, there are plenty of options to pay for your trip with rewards points.
Earning 4x points at restaurants, plus takeout and delivery in the U.S., up to $50,000 in purchases per year
Earning 4x points U.S. supermarket purchases, up to $25,000 in purchases per year
Earning 3x on flights purchased directly from the airline and select travel purchases through AmexTravel.com
Redeem rewards through AmexTravel.com or receive even greater value when transferring to airline partners
Up to $10 monthly dining credit (useable with Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, and Five Guys. Enrollment required.)
Why We Like the Card
The Amex Gold card strikes a balance between functioning as a travel rewards card and earning as an everyday spending card. You’re earning elevated rewards at restaurants, at U.S. supermarkets, and on flights and select AmexTravel.com purchases. When it comes time to redeem your rewards, you have several flexible options including transferring your points to travel partners.
The Perfect Cardholder
Anyone who spends a lot at U.S. supermarkets, dining out, and on travel could find the Amex Gold card a potential fit. Everyday expenses will be earning rewards that can easily be redeemed for that annual vacation or a special getaway weekend.
Good Value Redemption Option
You can book United Polaris transcontinental business class for just 25,000 Avianca LifeMiles after transferring your Membership Rewards points. Plan a special weekend getaway for 2 and spend just 100,000 miles total for round-trip tickets from Newark (EWR) to San Francisco (SFO) or Los Angeles (LAX).
The Ink Business Preferred card offers tremendous value and is certainly one of the best Chase business credit cards. It’s an earning powerhouse for business purchases and delivers elevated value when it’s time to redeem your rewards.
The card is also packed with shopping protections to cover qualifying business purchases and travel protections, along with other benefits that most businesses involving travel can use.
Top Reasons To Get the Ink Business Preferred Card
3x earnings on common business purchases and travel ($150,000 combined limit per anniversary year)
A premium package of travel protections and benefits
25% more value when redeeming rewards for travel
Shopping protections and cell phone coverage
Why We Like the Card
We like that this card functions as a powerful business credit card without a high annual fee. The earning categories alone recognize the most common purchases businesses make, allowing rewards to add up quickly.
Businesses that have high travel expenses will appreciate the 25% additional value when redeeming Ultimate Rewards points for travel.
We also like the package of travel and shopping protection that comes with the card, especially primary car rental insurance, trip cancellation/interruption coverage, and $600 in cell phone protection.
The Perfect Cardholder
The business owner who is spending $150,000 combined on travel, advertising, shipping, internet, cable, and phone services will maximize the earnings on the card.
Businesses who have high travel expenses will also benefit from having the card as rewards could be redeemed to offset business travel expenses (or used for personal travel).
The ideal cardholder may also find value with additional reward redemption flexibility, offering choices such as cash-back, gift cards, and using rewards for Apple purchases.
Good Value Redemption Option
Nonstop first class flights on ANA can be booked for as few as 110,000 Virgin Points round-trip from major U.S. hubs to Tokyo. Transfer Ultimate Rewards points to Virgin Atlantic and use Virgin Points to book with ANA.
With a reputation of being one of the best business rewards cards available, the Amex Business Platinum card stands out as a card delivering tremendous value for the business traveler.
This card also comes with fantastic benefits. The excellent 5x earnings on flights and prepaid hotels via AmexTravel.com plus a 35% rebate on premium cabin airfare or your preselected airline make the card a fine choice for the business with high airfare expenses.
This card also earns 1.5x on eligible purchases in key business categories, as well as on purchases of $5,000 or more everywhere else (up to $2 million in purchases per calendar year).
The lounge access benefit of the Amex Business Platinum card is best in class for a travel rewards card, allowing access for the cardholder and 2 guests to over 1,400 lounges worldwide. Authorized users also receive the same “cardholder plus 2 guests” access.
The ideal business cardholder is making large purchases, spending a lot on airline and hotel expenses, and values the benefits of luxury travel perks.
Your business might also be spending money currently on annual lounge memberships for key employees. There may be immediate savings realized by utilizing the complimentary lounge access.
Good Value Redemption Option
Why fly economy or business class when you can fly round-trip in first class for just 80,000 miles? Transfer Membership Rewards points to Cathay Pacific and redeem Asia Miles to book a Hong Kong (HKG) to Tokyo (TYO) first class experience.
The Amex Business Gold card doesn’t come with a long list of luxury benefits such as lounge access, hotel elite status, or rebates on high-end retail purchases.
The card does focus on what matters most to your small business. And while the card isn’t perfect for every business, those businesses that can use its featured benefits and have expenses that align with the card’s bonus earning categories will find value by having the card.
Top Reasons To Get the Amex Business Gold Card
4x earnings automatically on 2 highest qualifying spending categories each statement period (up to $150,000 in purchases per year)
2x earnings on qualifying travel purchased through AmexTravel.com
Why We Like the Card
The card may be a perfect fit for the small business due to its 4x earnings on the 2 highest expenses your business makes in qualifying categories each statement period. Categories include:
Airfare purchased from airlines directly
Online, TV, and radio advertising purchased from U.S. media
Select U.S. technology purchases of computer hardware, software, and cloud solutions
Purchases at U.S. gas stations, U.S. restaurants, or U.S. shipping
The option to pay your statement balance over time could also be useful for small businesses just starting out.
The perfect cardholder may also be a small business owner who has little time to worry about complicated earning structures. Your highest qualifying expenses each statement period will automatically receive elevated 4x bonus earnings. There’s no need to preselect bonus categories.
Good Value Redemption Option
Ever wanted to venture off to Hawaii but thought it was way too expensive? Transferring your Membership Rewards points to the Air France-KLM Flying Blue program will allow you to book a round-trip economy ticket from the U.S. to Hawaii for just 30,000 Flying Blue miles.
The Ink Business Cash card supports your small business operation by concentrating on the cost savings of no annual fee. Additionally, it earns rewards in the form of valuable Ultimate Rewards points that can be redeemed for cash-back and invested back into your business.
And while cost savings are prevalent with the card, it has good earning potential, plenty of redemption choices, and even travel benefits.
Top Reasons To Get the Ink Business Cash Card
No annual fee
5% and 2% bonus earning categories for business purchases
Travel and purchase protections and benefits
Why We Like the Card
We like the bonus earning levels of 5% cash-back on common small business expenses and 2% cash-back on travel and dining. For businesses starting out, having a card with no annual fee is a positive.
We also like that the card earns Ultimate Rewards points that can be redeemed for cash-back and also be transferred to premium Chase cards and redeemed for a greater value (up to 50% more) on travel or transferred to travel partners.
The card also comes with travel and shopping protections such as primary car rental insurance, travel emergency assistance services, roadside dispatch, purchase protection, and extended warranty.
The Perfect Cardholder
The perfect cardholder is a small business owner who will maximize the 5% cash-back earning categories by spending $25,000 per year on a combination of office supplies and internet/cable/phone services. Since gas station and dining purchases earn 2% cash-back, the business that spends $25,000 in these categories will also maximize earnings with the card.
Good Value Redemption Option
Planning time away as a small business owner can be challenging and expensive but you don’t have to break the bank when you’re using Ultimate Rewards points to book your travel.
You’ll need a premium Chase card such as the Chase Sapphire Preferred card or Chase Sapphire Reserve card to transfer your points from your Ink Business Cash card. Then you can transfer your points to airline partners to book award tickets.
Transferring Ultimate Rewards points to United Airlines allows you to book round-trip economy Saver-level tickets to Alaska for just 35,000 miles or flights within the lower 48 states for just 25,000 miles.
Deciding Which Card Is Best
While we’re not able to give you all the details for each recommended rewards card here, we hope our summaries have helped you understand the cards’ key attributes and spark your interest to learn more.
You’ll want to check out our in-depth reviews for cards that you’re interested in, read the associated pricing disclosures, and understand any card issuer requirements. For Chase cards, for example, you’ll want to reference the Chase 5/24 rule before applying. If you’re applying for a business card, you can learn more about the business card application process.
From picking a card to paying for your items to earning valuable rewards, let’s get back to basics and talk you through just how credit cards work step-by-step.
At a high level, each time you use your credit card, you are borrowing money from your card issuer to pay for something. Your transactions are added together and at the end of each month, you must repay what you borrowed. If you take extra time to pay it back, you’ll be charged interest.
While all credit cards work generally the same way, other features are unique to each card. We’re going to break down all of the things you should look for when choosing your next card.
Picking a Card
There are a lot of choices to make when it comes to credit cards. It’s important to know what all of the features of a card are to choose the card that is best for you and your spending habits.
The first step to getting a credit card is knowing what cards you are eligible for. This requires knowing your credit score, a 3-digit number lenders use to help them decide how likely it is they’ll be repaid on time. Learn more about credit scores and why they are important!
Everyone is entitled to 1 free credit report every year from each of the 3 big credit bureaus: Equifax, Experian, and TransUnion. You can get this report by going to annualcreditreport.com. Many banks also offer free credit monitoring, as well.
Bottom Line: At a basic level, the higher your credit score, the more likely you are to qualify for the cards with the best benefits.
If you’re still building (or rebuilding) your credit, you’ll want to look for a card that is specifically meant for this. These cards may require a deposit (known as secured cards) or come with high fees, low credit limits, or high-interest rates to offset a lender’s risk.
Here are the credit score ranges to determine exactly what your score means:
2. Decide on Card Type
The next important step is to decide on the type of card you want.
Credit card companies offer different kinds of cards to meet their consumers’ needs. For example, some people choose to put all of their monthly expenses on their card and pay it off in full each month. Those people benefit from a card that returns a portion of their spending in the form of cash-back or travel rewards.
Others tend to make minimum payments and carry a balance from month to month. These people benefit from a card that offers a low ongoing interest rate. Still, others are working to build their credit, and cards with lower credit limits are designed for those people.
For this reason, there are a few key decisions to make, so we’re going to give you all of the information so you can decide which is best for you.
Issuer
As we discussed above, each time you make a purchase on your credit card, you’re borrowing money from a company, and when you make a payment on your balance, you’re paying them back. This company is known as the issuer.
The issuer is the lender that maintains your account from start to finish. You may know the big names like Chase, Capital One, or Wells Fargo, but credit cards are issued by smaller local banks or credit unions as well.
First, the company reviews your credit card application and decides whether you qualify for the card. Next, it will set your interest rate and account fees. At the end of each billing cycle, it will send your statement. You make payments for your purchases directly to the issuer.
Bottom Line: There isn’t one issuer that is “better” than others. Most credit card issuers rank high in terms of customer satisfaction, so the best one is the one that offers you the card that works best for you.
Many of the rewards benefits come directly from the issuer. Things like cash-back, rewards per dollar spent, and statement credits are typically given by the card issuer.
Network
The payment network is responsible for processing credit card transactions. Visa, Mastercard, American Express, and Discover are some of these payment networks. The network will report each transaction to the issuer so that the issuer can both pay the merchant and add the transaction to your outstanding balance.
Hot Tip: American Express and Discover are slightly different because they are both the issuer and the network, so they will approve the transactions themselves. This is why they charge higher fees.
The network determines where you can use your card. You’ll often see signs at retailers noting which cards are accepted and this refers to the network. Most retailers accept Visa and Mastercard, with only a couple of exceptions (such as Costco), while many choose to not accept Discover or American Express.
Network-provided benefits tend to be protections and perks, like travel insurance and rental car coverage. It’s important to note that just because a network has perks on some cards, it’s not guaranteed. It is up to the issuer to decide which benefits each card will have.
Co-Brand Partner
Unlike the issuer and network, not all credit cards have co-brand partners. The partner is an airline, hotel, or store whose name appears on the card.
This is not the same as transfer partners. For example, Chase Ultimate Rewards transfer to a variety of hotel and airline partners, but these partners are not directly listed on the card and aren’t considered co-brand partners.
Categories of Credit Cards
Every credit card delivers value through its own unique combination of features. Unfortunately, you’re unlikely to find a single card that offers a high rewards rate, a long 0% APR period, a low ongoing interest rate, generous perks, and no annual fee.
You will have to decide which offers the most value for you, so here are the major categories of credit cards and some of the benefits they provide:
Rewards Credit Cards
These cards return a portion of your spending in the form of cash-back, points, or miles. Due to the nature of the card, many of these are co-branded cards:
General travel credit cards (like Chase credit cards that earn Ultimate Rewards or Citi credit cards that earn ThankYou points) give you points that you can use to book travel. These cards offer tons of flexibility because they are not tied to specific airline or hotel loyalty programs. Depending on the card, it may also offer Priority Pass access, reimbursement for Global Entry, and other travel perks.
Airline credit cards carry the name of a specific airline. Spending on these cards will earn miles that you can redeem for free flights or upgrades on that airline. If you typically fly with 1 airline, this would be a good option as the card usually offers things like free checked bags, priority boarding, airport lounge access, and more.
Hotel credit cards carry the name of a specific hotel group. Spending on these cards will earn points that you can redeem for hotel stays. If you are loyal to a certain hotel chain, this would be a good option as it offers things like a free night’s stay every year, automatic upgrades, elite status, and more.
Cash-back credit cards give you a percentage cash-back on your spending. This can be used to reduce your balance or even be deposited directly into your bank account.
Bottom Line: There are a lot of options when it comes to rewards credit cards. Be sure to look at all of the fees and perks to make sure you’re picking the card that will the best work for you.
Credit cards with 0% interest make them suitable for a big expense (like furniture or appliances). If you don’t make your monthly minimum payment by the due date on your statement each month, it’s possible to lose the introductory purchase APR.
Low-interest cards have a low ongoing rate that makes them a good long-term option. Both of these cards are good for spenders who typically carry debt from month to month.
Different from the 0% interest cards above, these balance transfer cards allow you to move debt from a high-interest card onto a new card and then give you a year or more at 0% interest to pay that debt off.
You’ll often pay a 3% to 5% fee for the transfer, but depending on the balance, the interest savings can still be worth it.
These cards are designed for small-business owners. Their rewards and perks are tailored toward businesses, and they offer extra rewards that businesses typically pay for like internet, office supplies, advertising, or shipping purchases.
Since you would be the one making the payments, the issuer looks at your personal credit history when deciding if you qualify.
Banks have designed cards specifically for people working to improve their credit. Getting one of these cards and using it responsibly can go a long way toward your goals.
The best credit cards for bad credit are secured cards that require you to put down a cash deposit (refunded to you if you upgrade or close the card in good standing). There are “unsecured” cards for bad credit that don’t require a deposit, but they tend to charge high fees.
If you’re building credit, you can also be added as an “authorized user” on someone else’s card. This basically means that someone else is vouching for you (like cosigning on a loan), and it can be a great way to rebuild credit.
Store Credit Cards
Synchrony and Comenity are typically the banks behind retail stores. These cards may offer discounts at the retailer when you use the card. These are typically the easiest cards to qualify for but come with high-interest rates and low credit limits. They may also come with discounts when you spend with the retailer.
3. Look at Fees and Other Benefits
Now that you’ve selected the general category of card that works best for you, it’s important to look at the fees and other benefits associated with potential cards. Each card will come with its own set of fees and benefits, so be sure to read the fine print.
First up, let’s look at some of the common fees that you might pay with your credit card.
Annual Fee
This is a fee you pay annually for the privilege of carrying a credit card. Annual fees are common on travel reward credit cards that tend to offer the best credit card bonuses and bigger rewards than other credit cards.
To decide whether a card is a good investment, you’ll have to do the math. Based on your spending, would you earn enough in rewards each year for the fee to make sense? Do those other perks like travel credits and lounge access add enough value to you to outweigh the annual fee?
Finance Charge
A finance charge is just the interest that accrues on the balance you carry on your credit card. If you pay your balance in full each month, you’ll never pay a penny in interest.
There are a few ways that interest fees can be charged, but the daily average balance is the primary one. Credit card companies will average your balance for every day of the month, then multiply that by the daily rate and the number of days in the billing cycle to determine your interest owed.
Please refer to our complete guide on credit card interest for an in-depth look at this.
Balance Transfer Fee
A balance transfer fee is charged when you move debt from one credit card to another. After that, the typical fee is 3% to 5% of the amount transferred. Depending on the circumstances, some cards don’t charge a fee for balance transfers.
Many cards offer an introductory rate of 0% interest on balance transfers for a year or more, but you have to decide whether the interest savings will make up for the transfer fee.
Cash Advance Fee
When you use your credit card to take out cash (at an ATM or bank), you will be charged a cash advance fee of 2% to 5% of the amount borrowed. You’ll also usually start accruing interest on this cash advance (and at a higher rate than your normal interest rate).
Bottom Line: Avoid taking out cash with your credit card if possible, otherwise you’ll be charged a cash advance fee.
Foreign Transaction Fee
This fee is a charge of 1% to 3% added to purchases made outside the U.S. While many cards charge this fee, most travel credit cards don’t have foreign transaction fees.
Fees can be tacked on each time you swipe, so if you travel internationally, this is an important item to look into.
Over-Limit Fee
You can’t overdraft a credit card unless you’ve specifically opted into over-the-limit coverage with your card issuer. Paying for this fee may help you avoid the embarrassment of transactions being rejected at the register. If you don’t opt-in for this fee, your purchase would simply be declined.
The first time you go over your limit, you will usually be charged a fee of up to $25. After that, the fee can go up to $35 if you go over your limit a second time within 6 months.
Late and Returned Payment Fee
A late payment fee is charged when you don’t make at least the minimum payment by the due date. The exact amount varies by card.
A returned payment fee is charged when an automatic payment out of your bank account or a check you’ve made out is blocked for insufficient funds. This fee will vary by card, but around $35 is common.
Hot Tip: Be sure to also check out our definitive guide to credit card fees and how to avoid them.
Interest Rates
All credit cards charge interest if you carry a balance — that’s just the way they work! The interest that is charged will vary wildly according to the specific card you have qualified for and how long the card has been open.
Introductory Interest Rate
Credit card companies offer people with good credit a low introductory interest rate. Many cards offer 0% on purchases and balance transfers for a year or more. Some cards don’t go as low as 0% but still offer a lower introductory rate.
Ongoing Interest Rate
After the introductory rate expires, you will pay the ongoing interest rate. The rate will vary by card and individual, but in general, the better your credit, the lower your rate. For super-low ongoing rates, your best bet is a credit union.
If you have a card that has a variable interest rate, your rate may change multiple times a year depending on the Federal Reserve. Credit card issuers aren’t required to notify you when your variable rate is going to change, but some do so voluntarily.
Hot Tip: Remember that if you pay your balance in full every month, your interest rate doesn’t actually matter because you’re never charged interest.
Rewards Earned
Lastly, if you’ve decided to look at a card that offers rewards, there are a few more things to consider. Your answer to these questions will be subjective and really depend on how you typically spend money.
What do you get for every dollar spent (and where do you earn extra)?
How much do you get for your rewards when it comes time to use them?
How much flexibility do you have in using your rewards?
While specific rewards vary greatly depending on your card, you should look to see if some of these items are included with your card.
A card welcome bonus can be cash, points, or miles that you can earn by spending a certain amount of money in your first few months with a card. The bonuses on many travel cards are often big enough to justify the card’s annual fee.
Cash-back refunds a certain percentage of the purchase price. This might be a variable or flat rate depending on your card.
Points may earn a multiplier of points based on the category of the spending.
Statement credits are money back for qualified travel expenses, purchases from selected merchants, or the application fee for Global Entry or TSA PreCheck.
Perks may include extras like lounge access, free checked bags, free upgrades, airline or hotel elite status, or late checkout.
Applying for a Card
By now, you should have decided what card is best for you, so it’s time to apply!
To apply for a credit card, you’ll need to fill out a credit card application through a bank, credit union, or another card issuer. You will provide information like basic information like:
Your name
Address
Phone number
Employment status
Birthdate
Social Security number
Annual income
Other assets
Rent or mortgage payments
Other debt payments
The company will review the application and check your credit score to determine eligibility. You may be approved right away, or it may take the credit card issuer a few days to notify you of your approval.
If your application was rejected, be sure to check out our article on credit reconsideration and what to do next. You will typically receive a written explanation for denial within a few weeks.
Hot Tip: Issuers have individual rules and guidelines when it comes to applying for a credit card. For additional information, see our article: Applying for Credit Cards – The Rules for Each Bank [Limits, Bonus Eligibility & More].
If you’re approved for a credit card, you’ll sign an agreement that obligates you to pay back any money that you borrow. The agreement will also list important information like annual interest rate, credit limit,balance transfer interest rate, and all other fees associated with the card.
A credit limit is the maximum amount you can borrow at any time. For secured cards, the credit limit is usually the amount of your security deposit. On an unsecured card, the issuer will base your credit line on your income, credit scores, and other factors.
Your interest rate is the price you pay for borrowing money, usually noted as an annual percentage rate (APR). If you don’t repay the loan in full each month, you’ll have to start paying interest at this rate on all of the money you carry on your account from month to month.
Bottom Line: You could have a great credit score but still be rejected if you’ve opened too many cards recently or if your debt or recurring payments (like your rent or mortgage) are determined to be too big in relation to your income.
How Many Credit Cards Should You Have?
There’s technically no limit to how many credit cards you can have, but individual lenders can decide how many they would like to issue you at 1 time.
Here are some advantages to carrying more than 1 card:
Maximizing Rewards — One card may pay you a higher rewards rate on groceries. Another may reward you more points at restaurants or for spending on travel. Having multiple cards allows you to plan your spending to get the most out of your rewards.
Flexibility— Some cards are more widely accepted than others. It’s good to have a backup for cards like American Express or Discover.
More Available Credit — Ideally, you’ll want to keep utilization below 30%, and having more cards can help you with this since each card you have will increase your overall credit limit.
On the negative side, having more cards can make it harder to keep track of your spending and payment due dates. This can lead to an increased risk of interest and other fees and a snowballing of outstanding debt.
Bottom Line: You don’t need to have multiple cards to maintain a good credit score. While credit utilization is important, 1 credit card that is responsibly managed is enough to build a solid credit history.
Using Your Card
Once you are approved for a card, it might take a week or so to receive the card. Once you receive it, use the information on the card to call the number or go online to activate your card. After this, you’re ready to start using your card.
At a basic level, each transaction will involve the following steps:
You swipe/insert/tap your card. While the specific technology may vary, you can use your card at the cash register by swiping, tapping, or inserting the card into a card reader. Generally, you must sign on to approve these purchases, although exceptions may be at the gas pump or for other small purchases. If you’re online shopping, you enter all of your card information and submit it electronically.
The purchase is approved. This machine electronically contacts your credit card company to make sure the card is valid and that the purchase is within your credit limit.
The merchant gets paid. The merchant requests the money from the bank. The credit card issuer sends money for your purchase to the merchant. This is typically done daily through batch processing.
You pay back your issuer. On your statement date, all the transactions you made throughout the month will be totaled together. On the due date, you must repay the bank (in part or in full) for the purchase until it is repaid.
You can continue to use your card until the card’s expiration date. This doesn’t mean that your account closes on that date, but rather that the issuer will send you a new card in the mail (usually with updated technology like an EMV chip).
Hot Tip: Your card’s credit limit determines how high your current balance can be at any given time, so you’ll want to pay attention to how much you’re charging to your card throughout the month to avoid maxing out your card.
Paying and Monitoring Your Bill
At the end of each billing cycle, your card issuer will send you a statement that lists your credit card account balance, statement balance, the individual transactions you made that month, the minimum payment due, any fees incurred, and the due date.
Most credit cards give you an interest-free grace period on purchases. The grace period is the time between the end of your billing cycle and your bill’s due date.
Here’s an example of exactly how that works. Let’s say you make a $100 purchase with your card on January 1, the billing cycle closes on January 24, and your payment due date is February 21. The time between the end of the billing cycle (January 24) and the due date (February 21) would be your grace period. During this time, you won’t accrue any interest if this purchase is paid off in full by the due date.
Paying Your Bill
You’ll need to pay at least part of the balance due, called the minimum payment, each billing cycle. You ideally strive to pay off the entire statement balance by the due date to avoid paying interest on your purchases.
Hot Tip: You can set up auto-pay directly from your checking account to ensure your payments are made timely. This will eliminate late payment fees and reduce the likelihood of accruing interest charges.
Many people choose to do this automatically on the due date so that they don’t have to worry about missing or being late for a payment. You can always choose to make additional payments throughout the month if you are close to maxing out your credit limit.
Interest Fees
If you only make the minimum payment, you’ll be charged interest on any remaining statement balance at the rate set when you were approved for the card. This can also be called “carrying a balance” on your card as you have a balance from 1 billing period to the next.
This is where many individuals can get into trouble. Those fees start adding up over time and can begin to snowball into a much larger problem. Be sure to read more about credit card interest and how it adds up.
Monitor for Fraudulent Charges
Each month when you receive your statement, you should also check to make sure that all charges on the account are yours.
If you find unauthorized charges on your credit card statement, you should take the following steps:
Call Your Credit Card Company — As soon as you notice charges you don’t recognize, call your credit card company (or the issuer) using the number on the back of your card. They’ll likely put a stop on your current card, issue you a new card with a new card number, and investigate the charges immediately.
Change Your Account Passwords — If it’s not clear how your information was obtained, make sure you change your password to your lender’s website just to be safe.
Notify the Credit Bureaus — If you notice unauthorized charges on more than 1 card or account, be sure to contact the major credit bureaus (Equifax, Experian, and TransUnion) to alert them and request a credit freeze. This can help stop any more accounts from being opened under your name.
Contact the Federal Trade Commission (If Necessary) — If you have encountered fraud on more than 1 account, it could be considered identity theft. This should also be reported to the Federal Trade Commission. They can assist you in developing a plan to prevent further issues.
Call the Police (If Necessary) — If you notice a pattern of credit card fraud, the police can use your records to open an investigation.
Monitor Your Statements and Credit Reports — You should keep monitoring your credit card statements for a few months as fraudulent charges can appear for months after the initial occurrence. Your credit report can show if any new fraudulent accounts have been opened under your name.
Monitor Your Rewards — While the Fair Credit Billing Act limits your liability for unauthorized charges on your credit card, these same protections may not cover credit card rewards points or miles.
Check Your Online Shopping Sites — Most of us store credit card information with our favorite online shopping stores. It might be a good idea to remove this information or, at the minimum, change your passwords to these websites.
How Credit Card Fraud Is Handled
One of the best benefits of using a credit card is the protection you receive in the case of unauthorized purchases. Many credit cards promise zero liability for all fraudulent transactions.
After you report an unauthorized purchase to your credit card issuer, the charge will be removed from your outstanding balance while it is investigated.
Bottom Line: The important thing is that you have lost no money when a fraudulent transaction occurs on your credit card. You won’t have to make a payment for this transaction, so it will never affect your bank account.
Earning Credit Card Rewards (and Using Them)
If you have a card that earns rewards or other benefits, it is important to know how they work to make sure that you’re maximizing the value you’re earning from the card.
Rewards
At a high level, the rewards process works like this:
You make a purchasewith your credit card.
The issuer calculates your rewards. If you earn bonus rewards based on the category of your spend, the issuer looks at the category code of the merchant where you made your purchase and then applies bonus rewards as necessary. Otherwise, you will earn rewards based on the flat rate.
If your card comes with a sign-up bonus, these rewards will typically show up on the next statement you receive following the date when the requirements were met.
The issuer credits your rewards to your account. This could take anywhere from a few days to a few weeks for the rewards to show up.
You redeem rewards by logging into your card issuer’s account online.
Cash-back redemptions are pretty straightforward, but typically require contacting the issuer and requesting a check, a direct deposit into a bank account, or a statement credit.
Redeeming points or miles might involve booking travel through an online tool or transferring to a travel partner. Transfers could take a few weeks depending on the card/partner, so be sure to plan accordingly.
You can also redeem points for things like gift cards, merchandise, or rental cars, but typically these offer the worst value and we don’t recommend doing this if possible.
Hot Tip: Cash-back redemptions are seen as non-taxable as opposed to interest earned at the bank, which is taxed.
Statement Credits
Statement credits work a little differently. Basically, a credit is the opposite of a payment since you get money credited back to your account instead of borrowing it to pay for a purchase.
Some cards offer cash-back in the form of statement credits. These would be requested by you whenever you have earned enough points. Other cards offer statement credits for certain categories of spend. For example, it’s very common to see travel credit cards offer automatic credits for a Global Entry or TSA PreCheck application fee.
Other cards, like the Chase Sapphire Reserve card or the Amex Platinum card, offer statement credits for transactions that are categorized as travel. Each card categorizes these expenses differently, so it’s important to read the fine print to determine which purchases will receive credits.
In these cases, you simply make the relevant purchases with the credit card, and then the statement credit should appear on your account.
Statement credits or returns can result in having a negative balance on your card. This means you’ve paid more than you owed. In these instances, you can continue to spend like normal to offset this balance or even request a check from your issuer for the balance.
Bottom Line: While most of these credits are automatic, it is still up to you to make sure that they are being applied to your statement.
Final Thoughts
It’s a lot of information to digest, but the fundamentals to keep in mind when selecting and managing a rewards credit card are few.
When selecting a rewards card, you’ll want to make sure it matches your spending patterns in order to be rewarded well for the purchases you make most. You’ll also want to spend only what you can afford to pay off each statement period. Carrying a balance incurs interest charges which negate the value of the rewards you’ve earned.
Selecting a card with an annual fee you’re willing to pay is also important. If the card does have an annual fee, it should deliver more value to you personally than the cost of that fee.
And in the end, it’s all about the rewards. The card you select should have redemption options that match your travel goals so that you can experience the ultimate value of having a travel rewards card.
While it may take more than 1 card to reward all of your spending and meet your travel goals, start with 1 and manage it well. Remember, your credit is an asset that can yield great things in the future.
(Sidenote: If you’re interested in some of the “numbers” behind credit cards, see our annual post on credit card statistics and facts where we cover debt, spending, and more).
For rates and fees of The Platinum Card® from American Express, click here. For rates and fees of the American Express® Gold Card, click here. For rates and fees of The Business Platinum Card® from American Express, click here. For rates and fees of the American Express® Business Gold Card, click here.
