Best Credit Cards 2020

Best Card for Premium Cash Back Rewards

The Blue Cash Preferred® Card from American Express is an excellent choice for families—between the 6% cash back for US supermarket spending up to $6,000, as well as the cash back rewards on select US streaming services, US gas stations, and eligible US transit purchases (Terms Apply)—the card truly rewards the sort of spending a typical American family will go through as a matter of course.

The American Express Blue Cash Preferred includes a very strong welcome bonus, and some significant travel insurance and purchase protection benefits, though its best benefits are limited to the US market. Savvy consumers should be aware that these benefits do come with a substantial annual fee. Terms Apply. To learn more, check out American Express.

Screenshot americanexpress.com, June 2021.

This card also comes with a modest, interest-free promotional financing offer that applies to both new purchases and balance transfers, as well as competitive standard interest rates, considering that it’s a premium rewards card. Terms apply.  Be wary about confusing it with a travel rewards card, as you’ll receive very few travel insurance benefits, and it even has a foreign transaction fee. 

Who is this card right for?

This is the right card for those who value cash back ahead of other types of rewards. It’s also perfect for those who prefer to earn bonus rewards for particular kinds of purchases, and just 1% cash back on everything else (terms apply). To maximize your credit card rewards, you might want to complement this card with one that offers you a higher level of cash back on your spending that doesn’t qualify for a bonus. 

The American Express Blue Cash Preferred® card's best cash back offers are for so-called everyday spending categories such as US grocery shopping, US entertainment streaming services, US gas, and US transit expenses. But if you’re an urbanite that eats out a lot and travels frequently, this card won’t offer you nearly as much cash back as a typical travel rewards card. 

This is also a good card for those who really don’t travel internationally. Not only does it restrict the best rewards to U.S. supermarkets, but it also imposes foreign transaction fees on purchases made outside the United States, something that no premium travel rewards card would ever do. 

This card also makes the most sense for those who will be spending enough to justify its annual fee of $95. To be sure, you can easily use this card to earn hundreds of dollars in cash back, but only if you have significant monthly expenses that you’re able to charge. As a rewards credit card, it’s best for those who avoid interest by paying their balance in full each month, as non-rewards cards will usually offer lower interest rates. 

What are the card’s rates and fees?

This card is a premium rewards card with a significant number of fees. For starters, it has a $95 annual fee that’s not waived the first year.  It also has a 2.7% foreign transaction fee that’s imposed on all charges processed outside of the United States. Additional charges include a balance transfer fee of either $5 or 3%, whichever is greater. There’s also a cash advance fee of either $10 or 5%, whichever is greater. The late payment and returned payment fees are up to $40, as permitted by law, but there’s no over-the-limit fee.

New cardholders receive 12 months of 0% APR financing on both new purchases and balance transfers, with the aforementioned transfer fee of either 5% or $10, whichever is greater. Terms apply. After the promotional financing rate expires, the standard interest rate of 13.99% - 23.99% (variable) will apply. Each cardholder’s rate will be based on their creditworthiness when they applied, within a specific range. The most qualified applicants will receive a rate that’s slightly below the national average, but lesser qualified applicants will receive a rate that’s significantly higher. 

There’s also a much higher rate for cash advances and an even higher penalty APR that applies when you make a late payment or if your payment is returned from the bank. 

How to Earn Rewards

The American Express Blue Cash Preferred currently offers new customers $400 in cash back: Earn 20% back on Amazon.com purchases on the Card within the first 6 months of Card Membership, up to $200 back. Plus, earn $200 back after you spend $3,000 in purchases on the Card within the first 6 months of Card Membership. You also earn 6% cash back on up to $6,000 spent each year at U.S. supermarkets. However, this doesn’t include other stores that can sell groceries such as Target, Wal-Mart, Costco, and Sam’s Club. Nor will you earn any additional rewards at specialty stores such as fish markets, or cheese and wine shops. Terms apply. 

You also earn unlimited 6% cash back on purchases from a list of 26 U.S. entertainment streaming services, including Hulu, Netflix, Prime Video and Amazon Music Unlimited. This link will also show you exactly which purchases qualify for other bonuses with this card and other American Express cards. Terms apply. 

You earn unlimited 3% cash back at U.S. gas stations and on US transit purchases including taxis, rideshare, parking, tolls, trains, and buses. However, you don’t earn the bonus rewards for buying gas at supermarkets, superstores, and warehouse clubs such as Costco and Sam’s Club. You earn 1% cash back on all other purchases with no limits. All cash back is received in the form of Reward Dollars that can be redeemed as a statement credit to your account. Terms apply. 

Benefits

As an American Express card, the Blue Cash Preferred offers some valuable benefits, but nothing close to what you might find in a premium travel rewards card. To start, you get car rental loss and damage insurance. For decades, nearly every credit card offered this benefit, but recently several major card issuers stopped offering this coverage. 

You also gain access to Amex’s Global Assist Hotline, which can help refer you to medical, legal, financial and other services when you’re traveling over 100 miles away from home. It also offers a Roadside Assistance Hotline to help coordinate services like towing, fixing a flat or jumpstarting a dead battery. 

When shopping, your purchases are covered by an extended warranty policy that adds up to 2 extra years to your original manufacturer’s warranty of 5 years or less, (but just one extra year for residents of Indiana, Guam, Puerto Rico, and the Northern Mariana Islands).  You also get return protection which covers you when a retailer won’t accept items back within 90 days of purchase. Terms apply. 

Other benefits include purchase protection against accidental damage or theft. This covers your purchases for 120 days for up to $1,000 per occurrence and up to $50,000 per calendar year. You also get complimentary 2-day shipping at over 100 online retailers through ShopRunner, which you can enroll in for free as a cardmember. Terms apply. 

Apply now for the Blue Cash Preferred® Card from American Express Credit Card.

Best Card for Premium Business Travel Rewards

The Business Platinum Card® from American Express is ideally suited to business owners of any kind, but it's especially useful for frequent travelers. Perks include airport lounge access, no foreign transaction fees, elite status with hotel and rental car loyalty programs and even access to shared workspaces. Terms apply. 

When you're traveling for work (or really for any reason) and have a long layover, there's nothing better than getting access to over 1,400 airport lounges that might otherwise be restricted to international or first class travelers. Likewise, this card offers customers hundreds of dollars in statement credits for things like airline fees, Global Entry or TSA PreCheck application fees, and even purchases from Dell. Terms apply. 

But having this card is also about earning rewards, which you get in the form of valuable Membership Rewards points that can be redeemed for many things, including airline miles and hotel points. You also earn a considerable bonus when you buy airfare or when you book hotels through American Express Travel. Terms apply. 

If you're a business owner who travels frequently and would like to learn more, visit American Express.

Keep in mind that the Business Platinum Card® isn’t actually a credit card. That means that you’re expected to pay your entire statement balance in full each month. However, cardholders can enroll in the Pay Over Time program that allows them to extend payment on selected charges, effectively allowing it to function as a credit card. 

Screenshot americanexpress.com, June 2021.

Since busy business travelers can often use all the benefits they can get, the Business Platinum Card® from American Express remains extremely popular, despite its large annual fee.

Who is this card right for?

This is a card for small business owners who want to enjoy premium benefits, particularly when they travel. It makes the most sense for those who are willing to take the time to understand how all of the card’s benefits work, and how best to earn and redeem Membership Rewards points. 

For instance, a lot of American Express Business Platinum cardholders fail to register for many of the card’s valuable benefits such as elite status with hotels and rental car programs, and even some of the airport business lounge memberships. Other cardholders earn points, but fail to research the best way to redeem their points for the most value. These people might be better off with a simpler rewards card and a much lower annual fee.

But when you can take the time to research all of this card’s numerous benefits, and take advantage of as many as possible, then you’ll find that the card’s annual fee becomes less of a burden. 

What are the card’s rates and fees?

With this card, the big fee that jumps out at you is the $595 annual fee. Thankfully, that’s really all that most cardholders will have to worry about. That’s because there’s no foreign transaction fee for charges processed outside of the United States. Also, it doesn’t have a standard interest rate, balance transfer rate, cash advance rate, or penalty interest rate. At the same time, however, it doesn’t offer any promotional financing offers. 

If you opt into Pay Over Time, then the standard APR ranges from 14.24% (Prime Rate + 10.99%) to 22.24% (Prime Rate + 18.99%), based on your creditworthiness as determined at the time of account opening. This APR will vary with the market based on the Prime Rate. Also, the penalty APR for Pay Over Time balances is currently 29.24% (Prime + 25.99%), which is fairly standard for most credit cards, and will not exceed 29.99%. 

Finally, this card has a late payment fee of up to $39 or 2.99% of any past due Pay in Full amount, whichever is greater. The returned payment fee is up to $39 as permitted by law. 

How to Best Use Its Rewards

This card offers you one Membership Rewards point per dollar spent on net purchases. You can also earn 1.5x points per dollar on eligible purchases of $5,000 or more, for up to one million additional points per year. You also earn 5x points on all flight purchases and on prepaid hotels purchased from Amextravel.com. Terms apply. 

Membership Rewards points can be redeemed for a variety of rewards including gift cards, merchandise, and travel reservations, although you’ll only realize about $0.01 in value per point redeemed. You could even redeem points for cash back or statement credits, but you shouldn’t, as you only get a paltry $0.5 per point. Terms apply. 

Instead, most savvy cardholders transfer their points to airline miles when they can redeem those miles for the most value possible. The Membership Rewards program currently offers 19 different airline transfer partners, including Delta, JetBlue, Virgin Atlantic, British Airways, and Air Canada. When you’re able to redeem your miles for premium class awards, or other very expensive tickets, it’s possible to realize several cents in value per point redeemed. Terms apply. 

The Business Platinum card also offers you a 35% rebate on points redeemed for some airline tickets. This includes premium class tickets booked through Amex travel, or any tickets you book with the carrier you choose for your $200 annual airline fee credit.  While a 35% rebate may not sound that impressive, it results in a net value of just over $1.5 per point. This is neither a fantastic use of your rewards or a poor one, but it does give you maximum flexibility. And as a revenue ticket, it also allows you to earn miles from your award flight and credit towards elite status while being eligible for upgrades that you couldn’t receive when flying on a traditional airline award. Terms apply. 

Benefits

Since this card is mostly about receiving benefits, it’s no surprise there’s an extensive list. The most valuable might be the multiple airport business lounge memberships. You get a Priority Pass Select membership, with access for you and up to two guests at over 1,400 lounges around the world. However, this benefit doesn’t apply to airport restaurants that are normally part of the Priority Pass Select program. You also get a Delta SkyClub membership, but that’s only valid for the cardholder, and only when flying on Delta the same day. Finally, you and up to two guests receive access to the small but growing list American Express Centurion lounges, and their food and amenities. Terms apply. 

The next most valuable kind of benefits are the statement credits. You receive an annual $200 airline fee credit that’s valid on a chosen carrier, and up to $100 in credit towards a TSA PreCheck or Global Entry application or renewal, every four years. Then there’s a $200 annual credit towards Dell and Dell.com purchases. You’ll also receive a Platinum Global Access to WeWork’s shared office locations. Terms apply. 

Finally, you’ll receive elite status with Hilton and Marriott hotels as well as with Hertz and National car rentals. Furthermore, you receive numerous travel insurance and purchase protection plans as well as plenty of travel and shopping discounts far too numerous to detail here. Terms apply. 

Apply now for the Business Platinum Card® from American Express Credit Card.

Best Card for Building Credit

The Capital One® Platinum card is a first-rate option for building credit, thanks to its $0 annual fee and higher credit line reward for cardholders who make on-time payments. It was created for people just beginning to build and use their credit, who therefore have what’s often called a "thin credit file," which essentially means that there isn’t much information in their credit reports, either good or bad. This makes it harder for banks to approve them for the best interest rates and loan terms. 

While the Capital One® Platinum card doesn’t come with a signup bonus, that's okay because once your credit is established, you’ll be able to then qualify for other cards that offer miles, points, and cash back. And to make life easier for customers, the payment date is flexible, so you can choose a convenient date that works best for you.
 

If you need to build credit, and are looking for a good way to do so, look into the Capital One® Platinum card.

Who is this card right for?

Screenshot capitalone.com, January 2020.

Having good credit is a must in today's economy. You need it to get approved for a mortgage, obtain lower insurance premiums, and even get hired for some jobs. But how do you do get good credit? By starting out with the right credit card, you can build your credit and create good financial habits.

Even if you don't need a credit card today, it pays to have one in case of emergencies and unexpected expenses. Credit cards also make it easier to book hotel reservations, plane tickets, and car rentals, which can be difficult or nearly impossible when using other methods of payment. 

As you continue to use your Capital One Platinum credit card responsibly, you’ll be rewarded with a higher credit line. In technical terms, the higher limit reduces your credit utilization, which is 30% of your credit score. The lower your credit utilization, which is your balance divided by your credit limit, the higher your credit score will be.

What are the card’s rates and fees?

The Capital One® Platinum credit card doesn’t charge an annual fee, and you can pay your balance by check, online, or in a branch with no fee. However, if your monthly payment is late, you will be charged a late fee of up to $39. To ensure that Capital One doesn't charge a late fee, we recommend signing up for automatic payments.

If your payment is returned by your bank, Capital One will not charge a returned payment fee. You'll have at least 25 days after the close of each statement to pay your balance in full in order to avoid interest charges. Not paying your balance in full each month will cause you to incur interest on your balance. The interest rate on the Capital One Platinum credit card is higher than average, so it’s best to only make purchases on the card that you can afford to pay in full each month. However, there’s no penalty interest rate imposed if you happen to make a late payment. 

Balance transfers can be a great way to consolidate debt, and there’s no fee for performing a balance transfer with the Capital One® Platinum credit card. If you take a cash advance from the Capital One® Platinum credit card, you will be charged $10, or 3% of the amount advanced, whichever is greater.

If you travel internationally or make purchases from stores outside the United States, you won’t be charged a foreign transaction fee, which other banks usually calculate at around 3% of the transaction amount. 

Rewards

 As a starter credit card, the Capital One® Platinum card doesn’t offer any rewards, since the focus is more on building your credit score and history. 

Screenshot capitalone.com, January 2020.

Because you’re building your credit, your initial credit line may not be as big as you ultimately want. After making your first five monthly payments on time, you will gain access to a higher credit line. This higher credit line will make it easier to make larger purchases, rent cars, reserve hotel rooms, and book flights. A larger credit line also comes in handy in case of emergency or when unexpected expenses pop up.

Benefits

Capital One allows you to set your card’s payment due date. Instead of the bank selecting a due date for your credit card, Capital One lets you pick a date that’s convenient for you. This might depend on your payday, when your rent or mortgage payment is due, and what other bills you have. 

The Capital One® Platinum card helps you track your progress with a free tool called CreditWise, monitoring your credit score and showing you the key factors that may affect it, so you can make adjustments in the way you handle your money. You can access this free tool online or via the Capital One mobile app.

When shopping with the Capital One® Platinum card, your eligible purchases are covered with an extended warranty provided by Capital One. It also comes with auto rental collision damage coverage, which is no longer available with some other credit cards. If you've misplaced your card, use the free card lock feature online or on the mobile app to block transactions until you locate the card or receive a replacement. Plus, Capital One offers free virtual account numbers that help you protect your credit card information when shopping online.

[AFFILIATE LINK: Apply now for the Capital One® Platinum Credit Card.]

Best Student Rewards Card

College is a great time to start learning about credit cards and building credit, and the Bank of America Cash Rewards credit card for Students is a great place to start. It gives you cash back on every single purchase with the option of picking your own favorite category for 3 percent cash back on every dollar you spend.

This rewards credit card gives you 3 percent back in the category of your choice from a list of six popular categories. You also earn 2 percent cash back at grocery stores and wholesale clubs like Costco or Sam’s, and 1 percent everywhere else. Finally you can earn up to $2,500 cash back each calendar quarter in the bonus categories. That’s up to $10,000 per year in those bonus categories alone, depending on your spending habits, plus an unlimited 1 percent on those categories if you do go over the $2,500 limit.

The card includes access to your FICO credit score, the most popular metric used by lenders when applying for new credit cards, car loans, or even mortgages. If you use this card to build good habits and stick to a budget, then you can earn rewards for the spending you would do anyway while building credit. It also has no annual fee.

Who is this card right for?

The Bank of America Cash Rewards credit card for students is best for college students looking to get started with credit while earning cash back. If you’re going to the grocery store, the bookstore, a restaurant, or the movies, then you might as well get some cash back for your purchase.

In addition to earning up to 3 percent back, college students with this card can also enjoy some of the built-in benefits of credit cards. These include $0 liability for fraud if someone steals your card. If someone gets hold of your debit card number, they can quickly drain your bank account, and it can be difficult to get the charges reversed. With a credit card, you just call the number on the back to report the fraud, and you’ll immediately be credited for the amount in dispute.

Yet credit cards can be a common source of financial struggle for students. To avoid that, make sure that you don’t spend more than you can afford to pay in full each month to avoid interest charges. If you can avoid overspending and debt, then putting every purchase on the card gives you maximum fraud protection and cash back rewards.

Even if you don’t use the card for a few months, you’ll still get credit for on-time payments each month that you have a zero balance. So if you want to keep it just for emergencies and use it a few times per year for lunch to keep it active, it’s a good starter credit card for students to learn how to best manage their money.

What are the card’s rates and fees?

The Bank of America Cash Rewards Credit Card for Students charges variable interest based on both your credit history and on market rates. Interest rates are competitive for cards in this category. Your rate can change at any time with market interest rates. But remember, if you pay it off in full each month by the due date, then you don’t have to pay any interest.

The card requires a 3 percent fee ($10 minimum) for each balance transfer. Cash advance transactions have a higher interest rate plus a 3 percent fee ($10 minimum). Foreign transactions also cost 3 percent, so it may not be the best option for paying during a semester abroad. Using the card at an ATM or bank branch for a cash withdraw costs 5 percent ($10 minimum).

A late or returned payment triggers a penalty interest rate of up to 29.99% APR, so always make sure to pay on time and have enough cash in your checking account to cover the payment. You can also use this card for overdraft protection on a linked Bank of America account, for $12 each time.

Late payments will each cost you up to $39, and returned payments up to $28 each, depending on your state laws. If you pay on time and in full every month and avoid the fee-bearing activity listed above, you can use the card for free and earn cash back rewards. There’s also no annual fee.

Rewards

If you’re going to the movies or need to order pizza for an all-night study session, then you can earn rewards for your purchase. As soon as you get the card, pick your favorite bonus category—gas, online shopping, dining, travel, drug stores, or home improvement/furnishings—and earn 3 percent in it. 

When you go to your local grocery store or wholesale club, you’ll earn 2 percent cash back. Between the 2 and 3 percent back rewards categories, you can earn up to $2,500 per quarter.

You’ll also earn an unlimited 1 percent cash back on all purchases outside of the bonus categories. If you do hit the $2,500 quarterly limit for the bonus rewards,  then you’ll earn an unlimited 1 percent cash back on future purchases in those categories until the next calendar quarter begins.

You can redeem cash rewards as a statement credit or as a deposit to a linked Bank of America, Merrill Lynch, or Merrill Edge account. You can set up automatic redemptions starting at $25. 

Benefits

This credit card doesn’t feature the best benefits around for credit cards, and the ones it does are fairly standard. But as a card with no annual fee, you typically don’t get a ton of benefits depending on where you get your card.

You can use the card for overdraft protection, though a fee will apply if used. It also gives you a free FICO credit score, a key metric to know about yourself when applying for credit. Think about it like your GPA for your borrowing history. It also includes a security chip and works with most popular mobile wallet standards, so it should work wherever you want to use it.

If you’re most interested in getting a card for purchase protection and travel insurance benefits, this may not be the best card for your needs. This card’s strength comes from its rewards program, not its benefits. But in nearly all cases, credit cards give you a lot more benefits than cash and debit cards, so it’s still a great choice for students who are new to credit.

Best Card for Mid-Priced Travel Rewards

The Capital One Venture card has been a popular card travel rewards card for many years, but has now been significantly improved. It has always offered double miles on all purchases with no limits, and its miles can be redeemed for statement credits towards any travel purchases. 

But now you can also transfer your Capital One miles to frequent flyer miles with over 10 different frequent flyer programs, mostly at a 1.5:1 ratio. When you’re able to redeem your rewards for expensive flights in premium cabins or for pricey last minute reservations, it’s often possible to realize several cents in value for each mile redeemed. 

Capital One also offers you bonuses for booking reservations through Hotels.com and a credit towards your Global Entry or TSA PreCheck application. And while it does have a $95 annual fee, it’s waived the first year and there are no foreign transaction fees. 

Who is this card right for?

This is a great card for those who want to earn travel rewards that are easy to redeem, but still want the option to transfer their points to airline miles. Earning reward miles that can be redeemed for statement credits towards travel rewards is a simple way to earn and spend rewards. At the same time, transferring your rewards to airline miles can allow you to book a business or first-class flight for far fewer rewards.

This is a card for those with excellent credit, which is a requirement for approval. Like most reward credit cards, it has a higher interest rate than similar cards that don’t offer rewards. And with its relatively high interest rate, the Capital One Venture card is best for those who avoid interest charges by paying their statement balances in full each month. People who need a lower interest rate or a promotional financing offer are better off looking for a card that doesn’t offer rewards.

This is also a card for people who like to travel. Benefits like the Global Entry or TSA PreCheck credit as well as other travel insurance policies are most useful for those who travel regularly.

What are the card’s rates and fees?

This card has a $95 annual fee that’s waived the first year, and there’s no charge for adding additional authorized cardholders. And like all Capital One cards, there are never any foreign transaction fees imposed on charges processed outside of the United States.

You will find that its standard interest rates are higher than average. Your account will receive one of three rates, and the one offered to you will depend on your credit history when you opened the account.  Like most credit cards, there’s a higher interest rate for cash advances, but it doesn’t have a penalty interest rate.

The balance transfer fee is 3% and there’s a cash advance fee of either $10 or 3% of the transaction, whichever is greater. There’s also a late payment fee of up to $39 as permitted by law. 

Rewards

This card offers double miles on all purchases with no limits, as well as 10x miles for reservations made through Hotels.com/venture through January of 2020.

However, Capital One miles aren’t the same as airline miles. There are two ways to redeem Capital One miles for the most value. The first is to redeem them for statement credits towards travel purchases. Eligible purchases include airfare, hotels, car rentals, tours, and cruises. 

Alternatively, you can transfer your Capital One miles to airline miles with over 10 different frequent flyer programs.  When you can redeem your miles for expensive tickets in business and first-class, you can get a lot better deal than you can by opting for travel statement credits. Current transfer partners include Air France/KLM, Air Canada Aeroplan, JetBlue, Qantas, and Singapore. 

For example, you might be able to find a round-trip, business class award to Europe for 120,000 airline miles. If such a ticket would have cost $5,000 dollars, then you would have needed 500,000 Capital One miles, rather than the 180,000 Capital One miles that you transferred to airline miles at a 1.5:1 ratio.

Benefits

The Capital One Venture offers you a $100 credit towards the application fee for either TSA PreCheck or Global Entry, which includes PreCheck. You can use this credit for anyone’s application or renewal, not just your own, and you get it once every four years. 

Other benefits include extended warranty coverage, auto rental collision damage waiver, and 24-hour travel assistance services. 

You also get premier access to culinary experiences, sporting events, and concerts. This can include access to perks like VIP packages, on-site cardholder lounges, and more

Best Card for Hotel Rewards

The World of Hyatt credit card is the best card for hotel rewards because it offers a simple way to earn the most possible free nights per dollar spent. This card offers a whopping 9x points per dollar for purchases at Hyatt including restaurants, spas, and experiences. It also includes 2x points per dollar on several popular categories around travel, dining, and even gym memberships.

When signing up for a new card, you’ll get instant World of Hyatt Discoverist status, which includes complimentary faster internet, a daily bottle of water, and a free breakfast at participating hotels. You may also get late check-out or a free room upgrade when available.

Screenshot chase.com, January 2020.

Most importantly, the card includes a free night each year at a category one to four Hyatt property after your card anniversary, valued at up to 15,000 points. While the card requires a $95 annual fee, you’ll likely get more than that back in value from the annual free night benefit alone. The points and benefits make the card the best choice for those who want to earn free nights while enjoying benefits during their stays.

Who is this card right for?

The World of Hyatt credit card is best for people who frequent Hyatt hotels. Hyatt’s loyalty program is recognized by many award travel experts as the most rewarding, yet it has fewer properties than other chains such as Marriott and Hilton. And while it’s been quickly acquiring new ones, this card works best for travelers who visit cities where Hyatt has a suitable locations for their needs. 

The more often you use the card at a Hyatt, the more you’ll get back. But even if you just stay a few times per year, the card’s rewards and benefits can still justify the annual fee. Take a little time to review your typical annual spending—and the viability of staying at Hyatt hotels—to find out how many points you may be able to earn.

This is also a good card for those who don’t necessarily visit Hyatt properties on paid stays, but just want to earn free night stays. If you use the card regularly, you’ll rack up rewards points quickly, which can be redeemed for as few as 5,000 points for a free night stay. And if you are on the hunt for elite status, the card starts you out with five nights credit and then offers you additional credits for your spending. 

But like most reward cards, this card isn’t right for those who carry a balance and incur interest charges, as you can find lower rates on non-rewards cards. 

What are the card’s rates and fees?

The World of Hyatt card requires a $95 annual fee, however, the annual free night credit is likely worth more than the fee. 

For balance transfers, you’ll have to pay a 5 percent fee with a $5 minimum. Cash advance transactions also charge a 5 percent fee, with a $10 minimum. There are no foreign transaction fees imposed on charges processed outside of the United States, but late and returned payments cost up to $39 per occurrence, as permitted by law.

If you carry a balance from month to month, the interest rate on this card is comparable to other high-end travel rewards cards, but higher than non-rewards cards. 

Rewards

The rewards program for this card is excellent for Hyatt purchases, but might not be the very best out there for purchases outside of Hyatt.  At Hyatt, you’ll earn an effective 9x points per dollar with this card. That includes 5x from your World of Hyatt membership and 4x from the card itself. After spending $3,000 with the card in the first three months, you can earn a 25,000-point bonus. If you reach $6,000 in purchases in the first six months, you’ll qualify for a second 25,000 bonus, for  a total of 50,000 bonus points altogether. Since free nights start at 5,000 points, this is enough for up to 11 free night stays by the time you earn the bonus. 

Outside of Hyatt, the card includes 2x points per dollar on purchases at airlines, restaurants, taxis, transit, rideshares, and fitness clubs—and 1x everywhere else. Hyatt points can be valuable, so the card certainly works as a daily card for people who spend regularly on these categories. 

Benefits

The World of Hyatt credit card’s benefits are where it really shines. The flagship benefit is a free night each year at any Hyatt property categorized 1-4. Keep in mind that Hyatt owns 19 hotel brands operating more than 850 properties in over 60 countries. While categories 1 to 4 don’t give you the best luxury Hyatt has to offer, there are some Category 4 properties at resort areas that are quite desirable. 

Once you reach $15,000 in annual purchases on the card, you’ll get a second free-night certificate for category 1 to 4. If you take full advantage, you could get enormous value. For reference, a single night at the category 4 Hyatt Place in Keystone Colorado can cost over $400 per night. If you use one free night certificate here, you’ll get several times the value of the annual fee. With two free nights, you would get exceptional value in return for your annual fee.

Automatic Discoverist status brings you to the entry-level tier of Hyatt’s World of Hyatt rewards program. This level includes perks like free faster internet, bottled water, and even 2pm late checkouts when available. Discoverist members also get a 10 percent points bonus on Hyatt purchases. Read the full Discoverist benefits here. 

To reach the next level of elite status, the card offers you five stay credits automatically plus two free night stay credits for every $5,000 you spend on the card per year. 30 qualifying nights will get you Explorist status, and earning a total of 60 will get you top-tier Globalist status. Best of all, your award nights actually count towards elite status.

Apply now for the World of Hyatt card from Chase Credit Card.

Best Card for Small Business Cash Back

The Spark Cash® from Capital One® card is the best small business cash back credit card because of its simple and generous rewards structure, with the simplicity of a straightforward cash back earning system and no complicated miles, points, or quarterly bonus categories. It offers a flat 2% cash back on all purchases—with no limits—which can translate into some serious savings, since business expenses typically run higher than an average consumer’s credit card spend. Since you can also get complimentary employee cards, you can earn rewards with their spending as well, at the same time as you track their expenses.

The card also offers several travel and protection benefits, as well as an extended product warranty, and the ability to get money back with Capital One’s Paribus, which monitors the prices of the items you’ve bought and alerts you when the price has gone down. 

If you own a small business, and need a credit card that offers cash-back rewards, look no further than the Spark Cash®.

The Spark Cash® also features some handy business features that can help you with account and business management. You can find and sort merchant information by address or phone number, and even logo and map. You can also download your purchase records into your preferred accounting program, such as Quicken, QuickBooks, or Excel. Finally, you can set up spending alerts so you know immediately when a transaction posts. And of course, you get year-end itemized reports of your spending to help with taxes and budgeting.

Screenshot capitalone.com, January 2020.

Who is this card right for?

This is an ideal card for people with excellent credit—indeed, it’s a requirement for approval. And since the standard interest rate is higher than average, this card makes the most sense for those who are primarily looking for a method of payment rather than a means of finance. 

Therefore, you’ll benefit from Spark Cash the most if you can pay your balance in full every month and avoid interest altogether. If you can’t pay, then you might want to consider a basic, non-rewards credit card with a lower interest rate. 

What are the card’s rates and fees?

This card’s $95 annual fee is waived for the first year, and there are no foreign transaction fees.

While the Spark Cash’s standard interest rates are about the same as other small business rewards credit cards, the penalty interest rate is particularly high, which means you really don’t want to make late payments with this card. The interest on cash advances is also higher than the standard rate, but that’s typical for most credit cards. In addition to the cash advance interest rate, there’s also a cash advance fee, which is either $10 or 3%, whichever is greater. The late payment fee is up to $39, as permitted by law.

Rewards

This card offers an unlimited 2% cash back on all purchases. For example, if your business spend is $5,000 a month, your annual cash back will amount to $1,200, which you can redeem in multiple ways. Spark Cash also offers free employee cards so you can earn rewards on their purchases and track their spending at the same time. 

Redeeming your rewards is easy, with no minimum amount required before you can cash out your rewards as a statement credit or as a check. You can also set up an automatic redemption schedule, either at a set time or when your cash back has reached a specific threshold. If you wish, you can also redeem cash back for prior purchases or even gift cards. 

The card currently offers new applicants a $500 bonus after spending $4,500 within the first three months of opening the account. 

Benefits

Travel benefits include rental collision coverage and emergency travel assistance services like ticket replacement, medical referrals and more. The card also offers roadside assistance in case you get stranded on the road, although you’re ultimately responsible for all the associated costs.

This card is also part of the Visa Signature program, which adds a few other valuable protection benefits. Purchase security replaces, repairs, or reimburses you for purchases up to $10,000 per claim if your item is damaged or stolen within 90 days of the date of purchase. Lost luggage reimbursement covers your checked or carry-on bags for up to $3,000 if they’re lost or stolen.  

For movie lovers, there are Visa Signature ticket discounts at Fandango, while sports fans will enjoy special access to sporting events. And if you’re passionate about gourmet cuisine, the Fine Wine & Food program offers special dining and wine events that include complimentary wine tastings and special discounts at some of the best California wineries. The Visa Signature program also offers you discounts and special offers at brand name retailers, from clothing stores to electronics and everything in between. 

For preferential treatment while traveling, consider the Visa Signature Luxury Hotel Collection. While most hotels in this collection are rather pricey, there are still some bargains to be had. Specific benefits might change from one hotel to another, but at the very least you should expect a room upgrade at check-in (when available), free Wi-Fi, free continental breakfast for two, a $25 food or beverage credit, VIP Guest status, and late check-out (when available).  

You also get access to the around-the-clock Visa Signature Concierge services that can help you find tickets to sports and entertainment shows, book travel, make restaurant reservations, find the perfect gift for your business associates, and help with other tasks, saving you time and effort. 

Apply now for the Spark Cash® from Capital One® Credit Card.

Best Card for Rebuilding Your Credit

The Capital One® Secured credit card is the best card available to help you to rebuild your credit. First off, it doesn't charge an annual fee (like other similar secured cards) and though your credit line starts out at $200, it increases over time, so long as you make on-time payments for the first five months of use. And if you make a larger deposit before your account is opened, the initial credit line can be as large as $1,000.

If you're looking for a good way to build your credit, and can't afford an annual fee, learn more at Capital One.

The Capital One® Secured card is also unique in that you can be approved for a credit limit that exceeds your security deposit. That means that you may be able to submit a refundable deposit of $49, $99 or $200 in order to receive the $200 initial credit line. 

Capital One provides free tools to track your credit, and shares insights to help you improve. CreditWise gives you unlimited access to your credit score and it’s free to anyone, even if you don't have a Capital One® account. Once your credit is rebuilt, Capital One® has many credit cards to choose from that offer low interest rates or earn valuable rewards and cash back.

Who is this card right for?

The Capital One® Secured credit card is perfect for people with what's considered a poor credit score—generally lower than 600 FICO. To apply, you'll first need to save up enough money for a deposit with the bank to use as security. Then, be ready to show responsible use of credit by making small charges on the card and making your payments on time each month. If you simply have fair or average credit, then you don’t really need a secured card, as there are other unsecured cards designed for people with your credit profile. 

What are the card’s rates and fees?

The Capital One® Secured card is great for rebuilding credit for a number of reasons. First of all, there are no application or annual fees, unlike many other secured credit cards. 

Screenshot capitalone.com, January 2020.

There are also no foreign transaction fees with this credit card if you're traveling internationally or purchasing something from a store outside the United States. Other banks charge fees as high as 3% for international purchases.

If you pay your bill late, you will be charged a fee of up to $39, which can be avoided by paying your bill for free online, through the app, by mail, or at a local branch. Setting up an automatic payment for the minimum amount due is another way to avoid paying a late fee or interest on your balance.

Like most secured credit cards, the interest rate on the Capital One® Secured credit card is higher than average, though you will have at least 25 days from the closing date of your monthly statement to pay your bill. The interest rate charged will vary with the market and is based on the Prime Rate. If you transfer a balance or perform a cash advance, you will pay interest starting on the transaction date. The fee for a cash advance is $10 or 3%, whichever is greater.

Rewards

The Capital One Secured card does not offer any traditional rewards, such as airline miles, hotel points, or cash back on your purchases—your reward is an improved credit score, given you follow solid financial habits. As you handle your new credit card responsibly by keeping your balance low and making timely payments, these positive behaviors will post to the three major credit bureaus, and help you rebuild your credit.

Benefits

Depending upon your credit history and income, your required security deposit will vary. It will either be $49, $99, or $200 for a secured line of credit of $200. For people that need a larger credit line, you can deposit more money before your account opens to get a larger credit limit of up to $1,000.

Although this credit card is secured, the actual card will not have the word "secured" on it. Some consumers are hesitant to use a credit card with that word on it because they’re concerned with what others may think of them. Capital One® wants you to focus on rebuilding your credit without those kinds of fears.

Once you have your Capital One® Secured card, you can add an authorized user at no charge. You'll also be able to track spending by user. 

While Capital One offers $0 fraud liability from unauthorized transactions if your card is lost or stolen, this card lets you take advantage of virtual account numbers from Eno, the Capital One assistant, and create temporary credit card numbers that protect your real card number when shopping online. 

This card also includes extended warranty coverage and auto rental collision damage waiver that allows you to decline the expensive coverage sold by rental car agencies.

Apply now for the Capital One® Secured Credit Card.

Best Card for Low Standard Interest Rate

While most of the best cards we found were from major card issuers, this is one time that you might want to consider a smaller card issuer. To offer a credit card with the lowest possible standard interest rate, issuers have to create a card with few, if any, features and benefits. It’s hard to offer an ultra-low interest rate as your standard, and also make a profit. 

Therefore, it shouldn't come as a surprise that the lowest possible standard interest rate is on a card offered by a credit union. Unlike a bank, credit unions are member-owned cooperatives, so they don’t actually have to make a profit. Instead of creating value for shareholders, credit unions exist to serve their members. 

Unify Financial Credit Union has about a quarter of a million members and operates across all the United States. Its Visa Platinum card is currently on offer either with a fixed rate of as low as 9.49% APR or a very low variable rate of as low as 8.49% APR. 

Who is this card right for?

This is a great card for someone who values a low interest rate above all other factors. The ideal user is someone who knows they’ll regularly need to carry a balance on their card and want to minimize their interest charges. And while you could apply for a different card that offers 0% APR promotional financing, these offers are usually only for a limited time, with significantly higher standard interest rates. 

Screenshot unifyfcu.com, January 2020.

This card also works well for people who like the credit union business model. While there aren’t nearly as many retail locations as with a major bank, that won’t be important when you’re able to complete most transactions online, through an app, or at an ATM. And when you need help, Unify offers 24/7 telephone customer support, live chat services, and a secured message feature. 

However, keep in mind what’s not offered by a card like this. You won’t receive a valuable sign-up bonus or earn rewards. While you’ll enjoy some benefits, don’t expect the rich set of travel insurance and shopping protection policies of a premium rewards card. 

What are the card’s rates and fees?

The Visa Platinum card is currently offered either with a fixed rate of between 9.49% and 17.99%  APR, or a variable rate of between 8.49% and 17.49% APR, which are the lowest rates in the US that we’re aware of. The lowest rates are reserved for the most qualified applicants with strong credit histories and excellent credit scores. 

If you choose the fixed rate version, you’ll receive an introductory financing offer of 5.49% - 13.99% APR for your account’s first 12 months. After that, the standard interest rate will apply to any remaining balance. 

This works out to the Prime Rate plus either 4.49 percent for the fixed rate version or Prime plus 3.49 percent for the variable rate. As with any variable rate credit card, rates fluctuate according to the Prime Rate, which is determined by Federal Reserve Bank policies. The Fed raised rates four times in 2018 and has lowered rates twice in 2019, as of this writing.

Otherwise, this card has very few other fees. There’s no annual fee and no fees for balance transfers or even for cash advances. The returned payment fee is up to $25, and so is the late fee, which only applies after the payment is more than five days late. And there are no foreign transaction fees for charges processed outside of the United States. 

Rewards

In order to offer the lowest possible standard interest rates, this card doesn’t feature any rewards. 

Benefits

The Visa Platinum card offers few benefits, but at a time when many major credit card issuers are slashing the benefits they offer, something is better than nothing. The most important one is the auto rental collision damage waiver, which allows you to decline the expensive optional insurance offered by car rental companies. 

You also receive a warranty manager service with valuable features that help manage, use and even extend the warranties of eligible items purchased with your card. Finally, it offers travel and emergency assistance services that can refer you to helpful resources when traveling, such as medical or legal services.

Apply now for the Unify Financial Credit Union Visa® Platinum.

PROS

• Annual $300 credit for bookings through Capital One Travel
• 10,000 bonus miles every year (starting on your first anniversary)
• Access to over 1,000 airport lounges worldwide
• Up to $100 credit for Global Entry or TSA PreCheck® (when you use card)

CONS

• High annual fee ($395)
• Outstanding balance must be paid in full every month

Who it’s best for: The Capital One Venture X Business is an obvious choice for business owners seeking valuable travel benefits and a straightforward rewards program for an affordable annual fee.

What we like: You’ll earn travel rewards from your day-to-day spending without the hassle of tracking spending categories or limits. 

What we don’t like: Since it’s a charge card, your bill is due in full every month. Also, this card’s rewards are specifically aimed at travel so it’s not the best choice for those who like cash back or who want rewards in other categories.

Best Premium Travel Rewards Credit Card

The Chase Sapphire Reserve® is the ideal credit card for the frequent traveler who pays their balance in full and prefers rewards over cash back. Its signature benefit is the Priority Pass Select membership, offering access to over 1,300 airport business lounges around the world.

Regular travelers (especially to international locations) can offset the card's $550 annual fee with other benefits, such as a credit of up to $100 towards a Global Entry or TSA PreCheck application, $300 annual travel credit, and a wide range of travel insurance and purchase protection policies.

Other features include participation in Chase’s Ultimate Rewards program, which gives you the ability to transfer your rewards to airline miles or hotel points, and to book travel directly through its Expedia-operated travel portal. You earn 3x points for all dining and travel expenses including airfare, hotels, car rentals, cruises and tours—as well as on parking, tolls and shared ride services. At the same time, you’re able to combine the points you earn here with rewards from other Chase business and consumer credit cards. 

Screenshot chase.com, July 2021.

Who is this card right for?

As a rewards credit card, the Chase Sapphire Reserve® only makes sense for people who avoid interest charges by paying their statement balances in full, and who have relatively high monthly spending habits. Otherwise, it can be hard to justify its high annual fee—essentially, if you don't spend enough, you won't be able to fully take advantage of the card's rewards system. 

It’s also a card meant for frequent travelers rather than occasional ones. Its signature benefit is its Priority Pass Select airport business lounge membership, which can offer tremendous value. But if you only make a few short trips a year, or if you find yourself denied entry during periods of high traffic, then you may rarely be able to use this benefit. 

 Rewards

This card offers you 3x points for all travel and dining purchases, and travel is defined broadly enough to include not just airfare, hotels, and rental cars, but also parking, tolls, shared-ride services, and public transportation. You earn one point per dollar spent on all other purchases. 

Points are earned in the Chase Ultimate Rewards program, which offers two distinct ways to redeem points for award travel. You can transfer the rewards to miles with nine different airline programs, and points with three hotel programs. Or, your points are worth 1.5 cents each towards travel booked directly with Chase.