Customers now have access to a dizzying array of credit card options, including small business credit cards, making it difficult to choose the ideal card for their needs. There isn’t a single “universal” credit card. Instead, several alternatives cater to specific demographics, such as foodies, nomads, students, and those trying to establish or improve their credit. Doing some digging can help you locate a card that fits your needs.
The cards may have supplementary advantages that benefit usage. They may include best rewards credit cards for travel, yearly bill credits, sign-up bonuses, discounts at certain stores, insurance, and more. The typical American spends around $22,126 per year. Therefore, these cards may be a wonderful way to save money.
Responsible credit conduct, such as paying your amount in whole and on time each month and avoiding overspending and sliding into debt, is essential if you want to get the most out of your credit card.
If you’re looking to improve your credit, lower your interest rate, and earn $2,000 or more in cash back over five years, check out the best credit cards available in November 2022.
Top Cashback Cards
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Chase Freedom Unlimited
Chase Freedom Unlimited is a no-annual-fee rewards card. 5% cash back on Chase Ultimate Rewards® travel, 3% on drugstores and restaurants (including takeout), and 1.5% on all other transactions.
There’s also a substantial welcome bonus: Cardholders get 1.5% on all categories for the first $20,000 spent. That’s 6.5% on Chase Ultimate Rewards travel, 4.5% on eating and drugstores, and 3% on everything else.
This card offers no annual fee and a 0% intro APR on new purchases and debt transfers for the first 15 months (after 17.99% – 26.74% variable). Transfers done within 60 days of account creation incur a $5 or 3% of each transfer charge. After that, it’s either $5 or 5% of each transfer.
This card can give 5% cash back on Lyft purchases until March 2025 and three free months of DashPass with a 50% discount for nine months if activated by December 2024.
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American Express Gold Card
If you love food and travel, consider the American Express Gold Card. This card earns 4X points at restaurants and 4X points at U.S. supermarkets (up to $25,000 per year, then 1X). Flights booked directly with airlines or on amextravel.com earn 3X points.
How cardholders redeem Membership Rewards points affects their value. You can use them for Amazon checkout, gift cards, statement credits, and travel.
Cardholders receive a $120 annual dining credit ($10 per month) at Grubhub, The Cheesecake Factory, Goldbelly, Wine.com, Milk Bar, and select Shake Shack locations. Requires enrollment. No foreign transaction fees.
The $250 annual fee can be reduced to $130 with the $120 dining credit. Rewards help “pay” for the card.
Amex Offers let gold Card members earn statement credits or Membership Rewards points at select retailers. Wine.com offers “Spend $50, get $10 back.” Location-based offers have additional terms.
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Chase Sapphire Preferred Card
Chase Sapphire Preferred offers a high initial value. New cardholders can earn 60,000 points after spending $4,000 in three months. These points are worth $750 toward Chase Ultimate Rewards Travel bookings. If you transfer Chase points to Hyatt hotels and United Airlines, you can book business-class flights and luxury hotels.
The Sapphire Preferred is another great travel credit card with strong travel and dining earning categories. It earns 5X points on Chase Travel Portal travel, 3X points on dining (including takeout and delivery), 3X points on select streaming services, 3X points on online grocery purchases (excludes Target, Walmart, and wholesale clubs), and 2x points on all other travel.
The card offers a $50 annual credit for booking a hotel through the Chase Travel Portal, offsetting the $95 annual fee.
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Citi Double Cash Card
Since its 2014 launch, the Citi Double Cash Card has offered one of the best flat-rate cash-back programs. Cardholders earn 2% cash back on all purchases: 1% when making a purchase and 1% when paying the bill.
You can earn unlimited cash back without activating bonus categories. Cashback can be applied to a statement or deposited directly.
This card helps with debt consolidation. Balance transfers have a 0% intro APR for 18 months (then 17.74%-27.74% variable). Balance transfers within the first four months of account opening cost 3% (minimum $5). After that, transfers cost 5% (minimum $5).
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Discover it Miles
Discover it Miles’ generous rewards program and $0 annual fee make it a standout travel card.
Discover it Miles gives 1.5X miles for every dollar spent. Discover offers an unbeatable welcome bonus for higher spenders: a mile-for-mile match of all first-year miles. Discover will match your first 35,000 miles. Seventy thousand miles is $700 for travel. The average cardholder will earn 32,777 miles in the first year.
This card has no travel blackout dates. You can easily redeem miles for travel, restaurant, gas station purchases, or a bank deposit. Even if your account is closed, miles never expire.
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Citi Simplicity Card
The Citi Simplicity Card has one of the longest 0% intro balance transfer periods at 21 months (after that, 17.74% – 28.49% variable APR). Balance transfers must be completed in four months. This gives you nearly two years to pay off debt, which can be helpful if you have a large balance or limited cash flow.
This card has no annual fee and a 3% ($5 minimum) introductory balance transfer fee for the first four months after account opening, then 5% ($5 minimum). If you pay high interest, this can be beneficial.
Balance transfers take four months for new cardholders. The intro APR period starts at account opening, so make the transfer as soon as possible to maximize the interest-free period.
It has no late fees. No bonus or rewards program.
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Titanium Rewards Visa Signature Card from Andrews Federal Credit Union
The Andrews Federal Credit Union Titanium Rewards Visa Signature Card has low interest rates, a strong rewards program, and no foreign transaction fees.
This card’s APR is 10.99% to 17.99%. You’ll pay less interest if you carry a balance than other cards. Balance transfers incur a $10 or 2.00% of each cash advance fee
Earn 3X points on gas and grocery purchases and 1.5X points on all other purchases with the Visa Titanium Signature Rewards Card. Spend $1,500 in the first 90 days and get 10,000 bonus points.
Anyone can join Andrews Federal Credit Union to open this card. If you don’t qualify, you can join ACC for free with promo code “Andrews.”
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Discover it Secured Credit Card
The Discover it Secured Credit Card offers many unsecured card benefits. Cardholders can earn cash back, receive a welcome bonus, and use the card overseas for no annual fee.
Cardholders earn 2% cash back at gas stations and restaurants up to $1,000 per quarter, then 1%. Plus, all other purchases automatically earn 1% cash back. Discover matches all cash back new card members earn in their first year. Discover will match your first year’s cashback up to $50.
Standard for secured credit cards, this card requires a $200 deposit. It stands out because users can upgrade to an unsecured card. Discover will review your credit card account seven months after the account opening to see if they can convert it to an unsecured line of credit and return your deposit. This eliminates guesswork about unsecured credit card eligibility.
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Petal 2 “Cash Back, No Fees” Visa Credit Card
The Petal 2 “Cash Back, No Fees” Visa Credit Card, issued by WebBank, is easier to approve. Petal may ask you to link bank accounts during the application process to determine your creditworthiness. WebBank analyses bank statements, bill payments, and earnings to determine eligibility.
This helps applicants without a credit history. Credit history does factor into credit decisions.
The Petal 2 Visa Credit Card has no annual fee, late payment fee, or foreign transaction fee. No security deposit is required, which helps consumers build credit.
It offers 1% cash back on eligible purchases immediately, which can increase to 1.5% after 12 on-time monthly payments. This perk encourages responsible behavior and is a nice perk. Select merchants give cardholders 2% to 10% cashback.
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Discover it Student Cash Back
The Discover it Student Cash Back card helps college students build credit while earning rewards. U.S. citizens over 18 can apply.
Cardholders can earn 5% cash back on rotating categories (like Amazon.com, gas stations, or restaurants) up to $1,500 per quarter (then 1%). Automatic 1% cash back on other purchases.
New purchases have 0% APR for six months, perfect for dorm room essentials or textbooks. After the intro period, the APR is 15.99%-24.99%.
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Chase Sapphire Reserve
Chase Sapphire Reserve is for foodies and regular travelers who want airport lounge access and hotel room enhancements. Global eating and travel earn cardholders 3X points. Based on Select’s estimates, the typical American using this card might earn $165 per year in dining points (assuming you redeem for travel through Chase Ultimate Rewards®, which is 50% more valuable).
How you utilize Chase points affects their worth. One hundred points may be redeemed for $1 in cash or gift cards at $.01 each. How are points calculated?
When redeemed for travel with Chase Ultimate Rewards®, all points are worth 50% more. Eighty thousand points are worth $1,200 when redeemed via Chase Ultimate Rewards®. This perk maximizes prizes.
This card offers a strong rewards program but a $550 annual fee. Chase’s enhanced credits and bonuses help offset the yearly fee. Travel credit decreases the yearly charges to $150. Priority PassTM Select memberships cost $429 for cardholders. They earn $100 credit every four years for Global Entry or TSA PreCheck.
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PenFed Platinum Rewards Visa Signature Card
The PenFed Platinum Rewards Visa Signature Card offers the most rewards at gas stations, 5X points per dollar spent.
Road warriors can save with this card’s no annual fee. Cardholders can earn 3X points at supermarkets and gas stations.
PenFed Platinum Rewards Visa Signature Card requires credit union membership. Joining requires a few extra steps. You must apply, open and maintain a $5 savings account.
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Blue Cash Preferred Card from American Express
The Blue Cash Preferred Card from American Express provides the greatest cash-back rate at U.S. supermarkets (6% on up to $6,000 yearly, then 1%). The typical American may earn $310 per year when shopping at qualified supermarkets.
This card maximizes grocery cash back. In addition to significant grocery rewards, there’s an unlimited 6% cash back on certain streaming subscriptions, 3% cash back at U.S. petrol stations, 3% cash back on transportation including taxis/rideshare, parking, tolls, trains, buses, and more, and 1% cash back on all other transactions.
Amex Offers provides cardmembers with a statement credit or cashback at certain businesses. Sun Basket recently offered $25 back each month (up to three times) if you spend $70 or more on meal kit delivery. Location-based offers have extra conditions.
The $0 initial yearly cost is mitigated with cashback, and Amex Offers savings.
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Capital One Savor Cash Rewards Credit Card
Capital One Savor Cash Rewards Credit Card offers unlimited 4% cash back on entertainment purchases. This card offers the highest unlimited rewards rate on entertainment spending, such as movie tickets, zoo visits, and bowling.
Through Jan 2023, cardholders can get 8% cash back on Vivid Seat tickets.
Cardholders can also attend the iHeartRadio Music Festival and the Capital One JamFest.
4% cash back on dining and streaming services, 3% at grocery stores, and 1% on all other purchases. Plus, enjoy foodie perks like premium OpenTable reservations.
This card’s $95 annual fee is offset by cashback.
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Capital One Venture Rewards Credit Card
Capital One Venture Rewards offers the best hotel rewards rate: 5X miles on hotels and rental cars booked through Capital One Travel, plus 2X miles per dollar on everything else. Venture’s $95 annual fee is low compared to some rewards cards with $550 annual fees.
Cardholders receive $100 credit every four years for Global Entry or TSA PreCheck. Cardholders get two free airport lounge visits per year. These perks save time and money for frequent travelers.
This card has no foreign transaction fees and offers 24-hour travel assistance and a rental car collision damage waiver.
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The Platinum Card from American Express
American Express Platinum Card is a premium card with several perks. This card is recognized for its travel advantages, but it also gives digital entertainment, shopping, and wellness rewards (membership needed).
Cardholders earn 5X Membership Rewards® points on flights booked directly with airlines or through American Express Travel (up to $500,000 per calendar year) and 1X points on all other transactions.
Cardholders may receive premium travel and leisure advantages, including:
- $200 hotel credit annually
- $200 airline fee credit
- Equinox yearly credit of $300
- $100 Saks Credit 5th Ave.
- $189 off CLEAR®
- $240 yearly digital entertainment credit
- $155 Walmart+ credit annually. Plus Ups are not eligible
- Delta SkyClubs and Amex Centurion Lounges access worldwide
- $200 Uber credit annually
- $100 Global Entry or TSA fee credit PreCheck
- Hilton Honors and Marriott Bonvoy auto-elite status
- Travel Insurance
- Complimentary Amex Concierge
Its $695 yearly price is the highest on our list, but you can still win if you utilize all the advantages. And that’s before the $2,000 welcome offer.
