Best credit cards of July 2024
“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.
“Verified by an expert” means that this article has been thoroughly reviewed and evaluated for accuracy.
BLUEPRINT
Updated 10:17 a.m. UTC July 1, 2024
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With so many options available, finding the best credit card in 2024 can be overwhelming. Although many credit cards offer a wide variety of benefits from rewards to low APR offers to travel and purchase protections and other perks, the most important consideration is finding the card that best fits your spending habits and financial situation.
We analyzed an extensive list of credit cards, from various issuers, to choose the best credit cards in 2024. Here is our selection:
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Chase Freedom Flex® *
The information for the Chase Freedom Flex® has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
: Best cash-back credit card
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Wells Fargo Active Cash® Card
: Best 2% cash rewards card
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Capital One Venture X Rewards Credit Card *
The information for the Capital One Venture X Rewards Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
: Best travel credit card
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IHG One Rewards Premier Credit Card *
The information for the IHG One Rewards Premier Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
: Best hotel card
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Wells Fargo Reflect® Card *
The information for the Wells Fargo Reflect® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
: Best intro APR credit card
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Ink Business Preferred® Credit Card *
The information for the Ink Business Preferred® Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
: Best business credit card
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Discover it® Student Cash Back
: Best student credit card
Why trust our credit card experts
Our team of experts evaluates hundreds of credit cards and analyzes thousands of data points to help you find the best card for your situation. We use a data-driven methodology to determine each rating. Advertisers do not influence our editorial content. You can read more about our methodology below.
- 250+ cards analyzed.
- 20+ data points considered.
- 5-step fact-checking process.
our partner
Blueprint receives compensation from our partners for featured offers, which impacts how and where the placement is displayed.
Chase Sapphire Preferred® Card
Choosing the best credit card made easy
Short on time? Here’s a few of the top-rated cards hand-picked by our experts
- Top pick for cash rewards: Chase Freedom Flex® * The information for the Chase Freedom Flex® has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
- Top pick for airline travel: Chase Sapphire Preferred® Card
- Top pick for businesses: Ink Business Preferred® Credit Card * The information for the Ink Business Preferred® Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Our top 8 credit card picks of July 2024
- Chase Freedom Flex® * The information for the Chase Freedom Flex® has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. *: Best cash-back card and best rewards card.
- Wells Fargo Active Cash® Card: Best 2% cash rewards card.
- Capital One Venture X Rewards Credit Card*: Best travel credit card.
- Chase Sapphire Preferred® Card: Best airline credit card.
- IHG One Rewards Premier Credit Card*: Best hotel card.
- Wells Fargo Reflect® Card*: Best balance transfer credit card.
- Ink Business Preferred® Credit Card*: Best business credit card.
- Discover it® Student Cash Back: Best student credit card.
Best cash-back credit card
Chase Freedom Flex®
*The information for the Chase Freedom Flex® has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Best 2% cash rewards card
Wells Fargo Active Cash® Card
Best travel credit card
Capital One Venture X Rewards Credit Card
*The information for the Capital One Venture X Rewards Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Best airline credit card
Chase Sapphire Preferred® Card
Best hotel card
IHG One Rewards Premier Credit Card
*The information for the IHG One Rewards Premier Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Best intro APR credit card
Wells Fargo Reflect® Card
*The information for the Wells Fargo Reflect® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Best business credit card
Ink Business Preferred® Credit Card
*The information for the Ink Business Preferred® Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Best student credit card
Discover it® Student Cash Back
Compare the best credit card offers of July 2024
Earn a $200 bonus after you spend $500 on purchases in your first 3 months from account opening,
Earn a $200 cash rewards bonus after spending $500 in purchases in the first 3 months.
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.
Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 when you redeem through Chase Travel℠.
Earn 140,000 bonus points after you spend $3,000 on purchases in the first 3 months from account opening.
N/A
Earn 100,000 bonus points after you spend $8,000 on purchases in the first 3 months from account opening. That’s $1,000 cash back or $1,250 toward travel when redeemed through Chase Ultimate Rewards®.
INTRO OFFER: Unlimited Cashback Match for all new cardmembers – only from Discover. Discover will automatically match all the cash back you’ve earned at the end of your first year! So you could turn $50 cash back into $100. Or turn $100 cash back into $200. There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
The information for the Chase Freedom Flex® has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Why it’s the best
The Chase Freedom Flex® * The information for the Chase Freedom Flex® has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. stands tall among cash-back cards since it combines two ways to earn high rewards: Rewards bonuses on quarterly rotating categories (activation required) and tiered rewards in specific categories. No other card with a $0 annual fee offers this much rewards potential.
- Annual fee: $0.
- Rewards: 5% cash back on up to $1,500 in categories that rotate quarterly (requires activation), 5% cash back on travel purchased through Chase Travel℠, 3% cash back on dining and drugstores and 1% cash back on all other purchases.
- Welcome bonus: $200 bonus after spending $500 on purchases in the first three months of account opening.
- Foreign transaction fees: 3% of each transaction in U.S. dollars.
- APR: 0% intro APR for the first 15 months on purchases and balance transfers, then a variable APR of 20.49% to 29.24%. There is an intro balance transfer fee of either $5 or 3% of each transfer, whichever is greater, in the first 60 days. Then the fee is the greater of $5 or 5% of each transfer.
Earn more cash back on your spending: Best cash-back credit cards of July 2024
Why it’s the best
Earning simple rewards is twice as nice with the Wells Fargo Active Cash® Card. With this no-annual-fee card, you’ll earn 2% cash rewards on purchases without having to track different categories or spending caps. Plus it goes a step further than other 2% cards with its extras including cellphone protection when you pay your bill with the card and a helpful intro APR offer on both purchases and balance transfers, which can be a boon for anyone trying to save money on high interest rates.
- Annual fee: $0.
- Rewards: 2% cash rewards on purchases.
- Welcome bonus: $200 cash rewards bonus after spending $500 in purchases in the first three months of account opening.
- Foreign transaction fees: 3%.
- APR: 0% intro APR for the first 15 months on purchases and qualifying balance transfers, then a 20.24%, 25.24%, or 29.99% variable APR applies thereafter. Balance transfers made within 120 days qualify for the intro rate and fee of 3%. After that a fee of up to 5%, with a minimum of $5 applies.
Keep it simple with flat-rate rewards: Best 2% cash-back credit cards of July 2024
The information for the Capital One Venture X Rewards Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Why it’s the best
The Capital One Venture X Rewards Credit Card * The information for the Capital One Venture X Rewards Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. is our top pick for anyone seeking plush travel perks at a lower cost than competing premium cards. You’ll get access to more than 1,300 airport lounges worldwide through Priority Pass (enrollment required), Plaza Premium Group and Capital One’s own growing lounge network. The card also offers a $300 annual credit for travel booked through Capital One Travel. On top of that, you have the ability to transfer your miles to more than a dozen airline and hotel partners. Considering all these travel perks, this card is well worth the $395 annual fee.
- Annual fee: $395.
- Rewards: 2 miles per $1 on purchases, 5 miles per $1 on flights booked through Capital One Travel and on purchases through Capital One Entertainment and 10 miles per $1 on hotels and rental cars booked via Capital One Travel.
- Welcome bonus: 75,000 miles after spending $4,000 on purchases in the first three months of account opening.
- Foreign transaction fees: None.
- APR: 19.99% to 29.99% variable APR on purchases and balance transfers.
Planning your next vacation? Best travel credit cards of July 2024
Why it’s the best
It may surprise you that our top pick for best airline card isn’t a cobranded airline card. But the Chase Sapphire Preferred® Card earns rewards that can be used to book nearly any flight you’d like through Chase Travel, or you can transfer points to over a dozen Chase travel loyalty airline partners. Given these redemption options, this is a highly flexible airline card, compared to cobranded airline cards that only allow you to redeem your miles on one airline.
You may not get the free checked bag perks that come with airline-specific cards, but this card’s rewards rates beat those of most cobranded airline cards. This means you’ll earn free flights faster — and a free flight saves you a lot more money than a free checked bag.
- Annual fee: $95.
- Rewards: 5 points per $1 on travel purchased through Chase Travel℠, 3 points per $1 on dining, select streaming services, and online grocery purchases (excluding Walmart, Target and wholesale clubs), 2 points per $1 on all other travel purchases and 1 point per $1 on all other purchases.
- Welcome bonus: 60,000 points after spending $4,000 on purchases in the first three months of account opening.
- Foreign transaction fees: $0.
- APR: 21.49% to 28.49% variable APR on purchases and balance transfers.
Pack your bags and fly in style: Best airline credit cards of July 2024
The information for the IHG One Rewards Premier Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Why it’s the best
The IHG One Rewards Premier Credit Card * The information for the IHG One Rewards Premier Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. comes with sky-high rewards on eligible purchases at IHG Hotels and Resorts since you combine the card’s earning rate with points earned from being an IHG One Rewards member and automatic Platinum Elite status. Add to this the extra perks such as an anniversary night, a fourth night free when redeeming points for four consecutive nights at an IHG property and strong travel and purchase protections and this card delivers stellar value for frequent IHG guests.
Plus, your Platinum Elite status means reward night discounts, room upgrades when available, early check in, late check out and a small welcome amenity when you arrive. If your goal is bonus nights at a hotel, the card lets you earn free nights fast for a modest annual fee of $99.
- Annual fee: $99.
- Rewards: 10 points per $1 at IHG Hotels and Resorts, another 10 points per $1 as an IHG One Rewards member, 6 points per $1 from IHG with Platinum Elite Status (a benefit of this card), 5 points per $1 on travel, dining and gas stations and 3 points per $1 on all other purchases.
- Welcome bonus: 140,000 points after spending $3,000 on purchases in the first three months of account opening.
- Foreign transaction fees: None.
- APR: 21.49% to 28.49% variable APR on purchases and balance transfers. A balance transfer fee of either $5 or 5% of each transfer, whichever is greater, applies.
Enjoy room upgrades, free nights and more: Best hotel credit cards of July 2024
The information for the Wells Fargo Reflect® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Why it’s the best
Whether you need to finance a big purchase or transfer a balance from another credit card, the Wells Fargo Reflect® Card * The information for the Wells Fargo Reflect® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. offers one of the longest introductory APR periods you’ll find anywhere, at nearly two years. This makes it our top intro APR pick for both purchases and balance transfers. It doesn’t offer rewards or a welcome bonus, but it’s a debt-busting go-getter. And, it does have some ongoing value after the intro period thanks to the card’s cellphone protection benefit.
- Annual fee: $0.
- Rewards: None.
- Welcome bonus: None.
- Foreign transaction fees: 3% of each transaction converted to U.S. dollars.
- APR: 0% intro APR for 21 months from account opening on purchases and on qualifying balance transfers made within the first 120 days, afterwards a 18.24%, 24.74%, or 29.99% variable APR applies. There’s a balance transfer fee of 5% with a $5 minimum.
Get a break from interest: Best 0% APR credit cards of July 2024
The information for the Ink Business Preferred® Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Why it’s the best
The Ink Business Preferred® Credit Card * The information for the Ink Business Preferred® Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. is ideal for small business owners seeking a robust rewards program, a generous welcome bonus and benefits including primary rental car coverage, cellphone and purchase protection and extended warranty coverage. Take your earnings as cash back or potentially get outsize value by transferring your points to Chase’s airline and hotel partners to book award travel.
- Annual fee: $95.
- Rewards: 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year and 1 point per $1 on all other purchases.
- Welcome bonus: 100,000 points after spending $8,000 on purchases in the first three months of account opening.
- Foreign transaction fees: $0.
- APR: 21.24% to 26.24% variable APR on purchases and balance transfers. A balance transfer fee of either $5 or 5% of each transfer, whichever is greater, applies.
Boost returns on business spending: Best business credit cards of July 2024
Why it’s the best
With no credit score required to apply and a generous cash-back program, the Discover it Student Cash Back is our top pick for students. This card reports to the major credit bureaus, so if you pay on time and keep your utilization low, you can use it to establish and build your credit score.
The card offers bonus cash back on rotating categories. In the past, these featured spending areas have included grocery stores, gas stations, Amazon and more. Note that you have to activate the rotating categories every quarter in order to earn the elevated rewards rate.
- Annual fee: $0.
- Rewards: 5% cash back at different places each quarter up to the quarterly maximum once activated and 1% cash back on all other purchases.
- Welcome bonus: Discover will automatically match all the cash back earned at the end of the first cardmember year.
- Foreign transaction fees: None.
- APR: 0% intro APR on purchases for 6 months, then a variable APR of 18.24% to 27.24% applies. There’s a 3% intro balance transfer fee, up to 5% fee on future balance transfers (see terms).
Are you ready for your own credit card? Best student credit cards of July 2024
Best rewards credit card: Chase Freedom Flex® * The information for the Chase Freedom Flex® has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Why it’s the best
The Chase Freedom Flex® * The information for the Chase Freedom Flex® has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. is more than just a cash-back powerhouse. The rewards earned on this card actually come as Chase Ultimate Rewards® which, in addition being redeemable as cash-back, can also be used to book travel through Chase.
Plus, if you hold the Freedom Flex and a qualifying premium Chase card — like the Chase Sapphire Reserve®, Chase Sapphire Preferred® Card or the Ink Business Preferred® Credit Card * The information for the Ink Business Preferred® Credit Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. — you can transfer your rewards to more than a dozen of Chase’s travel transfer partners or use them to book travel through Chase at an increased redemption rate.
- Annual fee: $0.
- Rewards: 5% cash back on up to $1,500 in categories that rotate quarterly (requires activation), 5% cash back on travel purchased through Chase Travel℠, 3% cash back on dining and drugstores and 1% cash back on all other purchases.
- Welcome bonus: $200 bonus after spending $500 on purchases in the first three months of account opening.
- Foreign transaction fees: 3% of each transaction in U.S. dollars.
- APR: 0% intro APR for the first 15 months on purchases and balance transfers, then a variable APR of 20.49% to 29.24%. There is an intro balance transfer fee of either $5 or 3% of each transfer, whichever is greater, in the first 60 days. Then the fee is the greater of $5 or 5% of each transfer.
Earn big or go home: Best rewards credit cards of July 2024
Best balance transfer credit card: Wells Fargo Reflect® Card * The information for the Wells Fargo Reflect® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Why it’s the best
When you need to transfer a balance from a high-interest credit card, you probably won’t find a longer intro APR offer on balance transfers than the nearly two years offered on the Wells Fargo Reflect® Card * The information for the Wells Fargo Reflect® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. . It does charge a balance transfer fee of 5% for each balance transfer, with a minimum of $5, but we think most people will find it’s worth it in exchange for the lengthy intro APR period.
- Annual fee: $0.
- Rewards: None.
- Welcome bonus: None.
- Foreign transaction fees: 3% of each transaction converted to U.S. dollars.
- APR: 0% intro APR for 21 months from account opening on purchases and on qualifying balance transfers made within the first 120 days, afterwards a 18.24%, 24.74%, or 29.99% variable APR applies. There’s a balance transfer fee of 5% with a $5 minimum.
Crush debt with no added interest: Best balance transfer credit cards of July 2024
Methodology
Our credit card team has spent hours analyzing hundreds of credit cards. We took a deep dive into the details of each product, and that analysis, combined with our years of experience covering credit cards, informed us as we ranked the best credit cards across a wide variety of categories. You can read our full credit card methodology here.
For rewards credit cards and cash-back credit cards, we focused on earning potential and notable added value, from statement credits to useful protections. These are the main factors we considered in these categories:
- Estimated annual earnings, rewards value and rewards flexibility.
- Annual fee and foreign transaction fees.
- Welcome bonus.
- Introductory 0% APR offers.
- Potential credits.
- Protections like cellphone insurance, return protection, purchase protection and extended warranty.
- Membership/location requirements.
For travel credit cards, airline credit cards and hotel credit cards, we gave more attention to features designed to enhance travel experiences. While there was some overlap with what we considered for straight rewards cards, the ranking for these travel-specific categories placed greater emphasis on perks for travelers, like travel insurance, elite status and trusted traveler program reimbursements. Here are the various factors that we considered for cardholders with wanderlust:
- Estimated annual earnings, rewards flexibility and booking flexibility.
- Specific earning rates with hotels and/or airlines.
- Annual fee.
- Free checked bag perk and how many traveling companions are eligible.
- Airport lounge access and hotel elite status.
- Annual credits and other potential credits.
- Application fee reimbursements for Global Entry, TSA PreCheck and/or CLEAR® Plus.
- Travel insurances like trip delay coverage, trip cancellation coverage and baggage delay coverage.
- Flight companion certificate with card ownership.
For balance transfer credit cards and 0% APR credit cards, the biggest emphasis was, of course, on the promotional APR each card offered. Here’s how we narrowed down the top intro APR credit cards on the market:
- Length of the introductory 0% APR on balance transfers and/or purchases.
- Annual fee.
- Rewards potential.
- Introductory balance transfer fees.
For business credit cards, we considered the most important outcomes for the average small business owner — offsetting business expenses and protecting purchases. Here’s how we broke down the ranking for this category:
- Estimated annual earnings, rewards rates and rewards flexibility.
- Welcome bonus and anniversary bonuses.
- Introductory 0% APR offers.
- Annual fee and foreign transaction fees.
- Purchase protections and insurances.
- Credits for services business owners might find helpful.
For student credit cards, the criteria were focused more on helping those new to credit get a foot in the door and cover relevant expenses while starting to build credit. The most important factors for evaluating the best cards for students were:
- Estimated annual earnings.
- Length of the introductory 0% APR on purchases.
- Annual fee and foreign transaction fees.
- Welcome bonus.
- Potential to upgrade to an unsecured card.
- Specific earning rates with hotels and/or airlines.
- Cellphone insurance.
How to choose the best credit card for you
When selecting a credit card to apply for, some of the factors to consider include:
- Your credit score: How long you’ve had credit and how good your credit score is will determine the cards available to you. Know where you stand so you can confidently apply for credit cards you’re likely to get approved for and avoid unnecessary hard inquiries for cards that are currently out of reach.
- Financial goals: Why you want a credit card is important. Consider your primary financial goals for a credit card whether it’s earning rewards, avoiding interest with a 0% intro APR period, or gaining a credit-building tool to help establish and boost your credit.
- Spending habits: Where you shop and how much you spend are important considerations when choosing a card. If your spending is predictable, going with a card that offers high rewards rates in your biggest spending categories is a slam dunk. For more dynamic spenders, flat-rate cards or cards with rotating categories can make more sense.
- Redemption flexibility: Earning rewards is all well and good, but you also need to know how to redeem them to get the most value for your lifestyle and spending habits. From statement credits to gift cards to travel redemptions and transfers, consider what you want to do with all your hard-earned rewards.
- Interest rates: Even if you don’t intend to ever carry a balance, it’s important to be aware of the card’s regular APR, especially for cards with intro APR offers to avoid unexpected interest hikes when the promotional period expires.
- Annual fees: An annual fee can be well worth it, but only if you can offset it with the card’s benefits. Calculate how much value you realistically expect to get from the card to decide if paying the annual fee is worth it.
- Other fees: You should also be aware of other fees for different scenarios. For example, foreign transaction fees will add up if you plan to regularly use your card abroad, while balance transfer fees are an important consideration if you want to transfer debt from another credit card.
- Security deposit: For those new to credit or working to rebuild credit, you may need to start with a secured credit card. Minimum security deposit amounts will vary and are often equal to your credit limit, although some cards offer outsize limits depending on your situation.
- Issuer restrictions: Be aware of issuer restrictions on applications, such as the Chase 5/24 rule.
“People often ask me ‘What’s the best credit card?’ but that’s a lot like asking what the best car is or the best pizza topping — everyone has their own needs, preferences and comfort levels and that applies to credit cards too. The most important consideration when choosing the best card for you is what your goals are with the card. Do you want simple cash back? Travel perks? To build up your credit score? Start there and then look at other factors to narrow it down further.”
– Robin Saks Frankel, USA TODAY Blueprint lead editor credit cards.
Types of credit cards
There are many different types of credit cards aimed at people with varying needs.
“While there are dozens of great credit cards, American Express, Discover and Bank of America are always at or near the top of the annual J.D. Power Credit Card Satisfaction Study. They should, at the very least, be on your list of options,” said John Ulzheimer, a long-time veteran of the credit industry and founder of CreditExpertWitness.com.
Here’s a breakdown of the major types of cards on the market today and who they’re designed for:
| TYPE OF CARD | WHAT IT'S BEST FOR | WHO SHOULD CONSIDER IT |
|---|---|---|
Earning points or cash back on purchases
| Someone with good to excellent credit
| |
Earning rewards on purchases and sometimes offering benefits such as travel protections or airport lounge access
| Someone with good to excellent credit who travels frequently or aspires to travel more
| |
A zero-interest promotional period on purchases and/or balance transfers
| Someone who needs to finance a purchase over time or transfer debt from another card
| |
A zero-interest promotional period on balance transfers
| Someone who needs to transfer debt from another card
| |
Establishing credit when you have no credit history or a limited credit profile
| Someone who hasn’t had their own credit card before
| |
Building credit while a student of an accredited two- or four-year institution of higher education
| Someone who is studying at a college or university and wants to start building credit
| |
Repairing credit when you’ve made financial mistakes in the past
| Someone with poor or fair credit who might struggle to get approved for other credit cards
| |
Managing business cash flow and in some cases earning rewards on spending
| A small business owner (even if your business is a side hustle)
|
Best welcome offers
Credit card issuers commonly offer a sign-up bonus, sometimes called a welcome offer, as an incentive for you to apply. If you meet a minimum spending requirement on your new credit card within a certain time frame, you’ll be rewarded with cash back, points or miles, depending on what the particular card’s rewards are.
A welcome offer can be a terrific way to earn a pile of points. However, it’s unwise to sign up for every new card with an attractive offer — issuers may deny your application if they see that you’ve applied for too many credit cards in a short period of time.
If you’re already in the market for a new rewards card, it makes sense to choose one with a generous welcome offer. Below, we’ve curated this list of the 10 highest welcome offers currently available.
How to apply for a credit card
Applying for a credit card is a relatively easy process, but there are a few things to consider before applying. A healthy credit score can help you get approved for a better, more rewarding card. If you don’t have much of a credit score, apply for a card designed for first-time credit card holders, then improve your credit before applying for a high-end rewards card.
- Check your credit. You are entitled to a copy of your credit report from all three major credit bureaus: Experian, Equifax and Transunion. These bureaus keep files on consumers to help lenders evaluate creditworthiness. Your credit will be checked by credit card issuers when you apply, so ensuring your credit report doesn’t contain any errors can lead to a better outcome in the application process.
- Compare different cards. You want the best fit for your budget and lifestyle. Consider your goals in getting the card and choose a credit card that aligns with what you need. Knowing your credit score and what cards you realistically have a shot of getting approved for can set you up for success.
- Fill out the application. You can apply online, by phone or mail. You’ll need to provide some personal information, such as your name, address and Social Security number. This identifying information is how an issuer can obtain a copy of your credit report to evaluate the risk in extending you a line of credit.
- Wait for approval. Applying online is often the fastest way to find out if you’re approved, but some issuers will take a few days to make their decision. If you’re denied, by law the issuer will have to tell you why.
- Enjoy your new card. If approved right away online, some issuers may grant you a virtual card number to use immediately. Your physical card should arrive in the mail within a few days.
Pros and cons of credit cards
Credit cards offer a lot of benefits, but there are some considerations to be aware of. Compare the pros and cons of credit cards to determine if a new card is right for you.
Pros
- Convenient method of payment.
- Offer protections against fraud.
- May earn rewards on purchases.
- Some offer 0% intro APR periods on purchases and/or balance transfers.
- May offer perks such as travel and purchase protections.
- Can build credit with responsible use.
Cons
- The best credit cards often require good to excellent credit for approval.
- It’s easy to accrue high-interest debt if you don’t pay your card in full.
- Some cards charge high annual fees.
- Can damage your credit if you don’t use your card responsibly.
How many credit cards should you have?
The number of credit cards you should carry depends on your financial goals and spending habits. There’s no one right number for everyone. You can have as many credit cards as you can manage or no cards at all. If you’re trying to build your credit, one low-limit card may be enough, but if you’re looking to maximize rewards, two or three cards with different rewards programs may be more helpful.
It can be beneficial to have multiple credit cards if you use them strategically. For example, you might use a credit card that earns elevated rewards at restaurants, a different credit card that earns elevated rewards at gas stations and a 2% cash-back card for all other assorted purchases.
Be careful not to bite off more plastic than your wallet can chew. If you have trouble keeping up with payment due dates or paying all of your cards off in full each billing cycle, you might be better off with just one credit card. One credit card will build credit perfectly fine as long as you keep your utilization low and always pay on time. It’s better to keep things simple than to risk expensive credit card debt and a damaged credit score.
You should also avoid applying for too many cards at once, though, as each application will make an inquiry to your credit report that can have a temporary negative impact on your score.
Credit card tips for 2024
Whether you’re rocking your first credit card or are managing your own stable of tried-and-true cards, it’s important to have a credit card strategy based on sound fundamentals. Here are some ways to make the most out of your credit card lineup this year:
- If you’re new to credit, focus on building a solid credit foundation. Building credit and increasing your credit score takes time and effort, but it’s worth it. A good or better credit score can save you money in the form of lower interest rates, as well as help you access better financial products.
- Always pay your entire credit card balance. It’s never a good idea to carry a balance on your card. You’ll be charged interest if you carry a balance, which can be costly. Paying your credit card balance off in full is an excellent strategy to avoid accumulating debt, incurring interest charges and damaging your credit.
- Get a clear picture of your financial situation. If you’re carrying debt, you should prioritize paying that balance off and stop making new purchases. Consolidating your debt with a balance transfer credit card can make it more manageable — and it could help you save on credit card interest charges.
- Consider your spending habits. Review your spending habits before choosing a credit card that earns rewards. Earning points, miles or cash back when you use your credit card can be rewarding, but choose a rewards credit card that falls in line with your spending habits, not one that requires you to change them.
How to get the most out of your credit card
There are a few ways you can make sure your credit card is working for you:
- Choose the right card. Being selective about what card you use for your spending is key. Evaluate your spending habits and pick a card that offers rewards in the areas where you already commonly spend.
- Consider using multiple cards. If you’re interested in maximizing your credit card rewards, you may wish to use two or three or even more cards. The way to do this is to pick cards that offer high rewards in the categories where you spend the most.
- Think about adding an authorized user. Adding a spouse, for example, as an authorized user on your credit card means you get rewarded for their spending as well as your own.
- Pay in full every month. This may be the most important piece of advice anyone will ever give you regarding responsible credit card use. If you always pay in full every month by your due date, you can avoid all interest charges.
- Know when it’s time to upgrade your card. If you find that one of your cards no longer fits your lifestyle and financial needs, contact your issuer to request a product change or card upgrade.
- Only pay an annual fee if you get more value in return. There may be cases where it’s worth paying an annual fee. For example, frequent travelers might find that the Chase Sapphire Reserve®’s $300 annual travel credit and complimentary Priority Pass lounge membership (enrollment required) justify the card’s $550 annual fee.
- Don’t be afraid to close a card in certain situations. Although closing a credit card can reduce your overall available credit, the positive news is that when you close a card in good standing, its history stays on your credit reports for up to 10 years, potentially continuing to benefit your score.
Credit card basics for beginners
What is a credit card?
Credit cards extend you a loan in the form of a line of credit. When you use a credit card, you’re borrowing money from the credit card company to make a purchase, then paying it back. If you don’t pay the balance in full by the end of the billing cycle, you’ll start getting charged interest on the outstanding amount.
How do credit cards work?
You can use a credit card to make purchases, just like cash or a debit card. However, unlike those options, the money is not immediately withdrawn from your wallet or bank account. Instead, the credit card issuer will send you a statement for all the charges you made during the billing cycle.
If you pay off your balance before the billing statement due date, usually three or four weeks after the end of the billing cycle, you’ll avoid paying interest on your purchases. This is known as a grace period. If you don’t pay off your balance before the due date and “carry the balance” forward to the next billing cycle, you’ll accrue interest on the outstanding amount, as well as on every purchase made after that. Failing to make at least the minimum payment each month will have a negative impact on your credit score.
Credit card interest rates are typically expressed as an annual percentage rate or APR. The APR in your credit card agreement shows the interest applied to a balance over the course of a year, although most credit cards actually charge interest on your average daily balance.
The maximum amount you can borrow, or in other words, charge to your account, is your credit limit. In order to maintain good credit, you never want to “max out” a credit card. The amount of credit you use, also known as your credit utilization rate, should be as low as possible.
“Picking your first credit card is an exciting milestone and also a personal one, so it’s important to do your research on the options available that will best serve your needs. Start by reflecting on why you are seeking a credit card and what you are looking to achieve, whether it is to have payment optionality, start building credit, to make a specific purchase or for a different reason – understanding your top priority will help you narrow down your selection and find the right credit card. Also take your larger financial picture into consideration and ensure that the terms and conditions, pricing, fees and eligibility criteria of the credit card you are seeking aligns with your spending habits, credit history and personal situation.”
–Anthony Merola, head of proprietary products for U.S. branded cards at Citi.
Who qualifies for a credit card?
In the United States, you must be at least 18 with proof of income to apply for a credit card. Each credit card issuer also has their own requirements for approval. Generally, an issuing bank will look at your overall financial picture, which includes your income, current debt obligations, history of on-time payments and any other relevant information from your credit report to help them determine how risky it is to issue you a new line of credit.
Those who are new to credit may be able to qualify for a card specifically geared toward those with thin credit profiles, like a student credit card or a credit-builder card. But even those with damaged credit may be able to qualify for a secured card or similar card designed to help rebuild their profile.
How do credit card rewards work?
There are a few main types of credit card rewards and associated redemption options, though the specifics may vary by your issuer and your specific credit card. Here’s a basic breakdown:
| TYPE OF REWARDS CARD | CURRENCY EARNED | COMMON REDEMPTION OPTIONS |
|---|---|---|
Cash-back card
| Cash back
| Statement credit, deposit into bank account, paper check
|
Travel rewards card
| Points
| Travel bookings through the issuer’s portal, transfers to airline and hotel loyalty programs
|
Airline or hotel card
| Miles or points
| Flights or hotel stays with a specific airline (and partner airlines) or hotel chain
|
How does credit card interest work?
Credit card interest is typically only charged when you carry a balance on your card. The interest rate can vary from card to card, but usually ranges from 10% to 30%. Interest is charged on the outstanding balance each month and is compounded daily.
If you pay the balance in full each month, you will not be charged any interest. If you fail to pay off a balance, you’ll typically be charged interest on all new purchases until you’ve paid off your balance in full for at least two months.
Here’s the nitty gritty on APR: How credit card interest works
Important credit card terms
Understanding a few key terms can make you a more informed consumer and help you evaluate what different credit cards have to offer. The following are some of the terms you should understand as you shop around for the best credit card:
- Interest rate. Your interest rate is what you’ll pay if you carry a balance on your credit card, expressed as an annual rate.
- APR. This term means “annual percentage rate”. For some financial products, APR and interest rate are different, but they’re the same when it comes to credit cards.
- Minimum payment. The minimum payment is the smallest amount you can pay by your due date and keep your account in good standing.
- Grace period. The grace period is the time between when your billing cycle ends and your payment is due. As long as you pay in full by the due date, you can avoid incurring interest charges thanks to the grace period.
- Credit limit. Your credit limit is the maximum you can spend on your credit card before making payments to reduce your balance.
- Credit card issuer. The issuer is the company providing the credit card, which is typically a bank, credit union or other financial institution. Examples include Chase, Wells Fargo, Capital One, American Express and Bank of America.
- Credit card network. Credit card networks facilitate card transactions by regulating what transactions may be made using a card. Examples include Visa, Mastercard, American Express and Discover.
- Cobranded credit card. A credit card offered by a brand in partnership with an issuer. For example, the Prime Visa * The information for the Prime Visa has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer. is a cobranded card issued by Chase in partnership with Amazon. Airline credit cards are another prominent example of co-branded credit cards.
Frequently asked questions (FAQs)
There’s no one answer to this — the best credit card will depend on your credit profile, your individual needs and more. For example, if you’ve never had a credit card or if you are trying to rebuild your credit after some past mistakes, a secured credit card might be the best choice.
But, if you already have excellent credit and are seeking credit card rewards that can help you book nearly free award travel, you might want to consider a premium travel credit card.
In other words, the best credit card for you is likely to be different than the best credit card for someone else.
What should you look for when it comes to the best piece of plastic for your wallet? Here’s how to choose the right credit card
The easiest type of credit card to obtain is typically a secured credit card, which requires a refundable security deposit as collateral for a line of credit. Secured credit cards are usually available to people of all credit backgrounds — including those without any credit — and can help them build or rebuild their credit scores.
Some of the top credit card companies are names you’re likely to be familiar with including:
- American Express
- Bank of America
- Barclays
- Capital One
- Chase
- Citibank
- Discover
- U.S. Bank
- Wells Fargo
Although it’s generally a smart idea to choose a credit card from a reputable bank, the card’s attributes are far more important than who issues it. Look for a card that offers features that align with your goals, whether that means earning rewards, tackling debt or building up a better credit profile.
The best credit card issuer for you will depend on your individual needs. Different credit card companies offer different types of cards with various rewards, benefits and customer service options. It is important to compare specific credit cards available from different issuers, rather than just relying on the company’s name, to find the one that is best suited to your financial needs and goals.
Applying for a credit card can temporarily lower your credit score due to a hard inquiry on your credit report, but the impact is lighter than many other negative actions like skipping or defaulting on your payments. If you apply for too many credit cards in a short time period, it may have a bigger negative impact.
If you’re approved for the credit card, your credit score will likely increase thanks to the new account and the increased amount of overall available credit you have relative to existing debt. Making on-time payments is the best way to strengthen your credit.
Both Visa and Mastercard are global payment networks that are recognized around the world. Pretty much anywhere that accepts credit cards will accept your Visa or Mastercard. From a consumer perspective, there isn’t much of a difference between the two since they both can be used to make payments for goods and services. There are some differences in the ancillary benefits they offer but much of your credit card’s attributes are determined by the issuing bank itself, and not Visa or Mastercard.
The two other major credit card payment systems in the U.S. are American Express and Discover. American Express and Discover are unique in that they’re both issuers and payment networks. However, American Express lags a bit behind Visa and Mastercard when it comes to international acceptance and Discover is rarely accepted overseas.
In the United States, you must be at least 18 years old to open a credit card account. Those under 21 must prove independent income or provide a co-signer. Some credit card companies allow minors to hold authorized user cards, but the primary account holder must be 18 or older.
Once approved, it generally takes one to two weeks to receive your new credit card in the mail. Some issuers provide a virtual card number you can use while waiting for your physical card to arrive.
For Capital One products listed on this page, some of the above benefits are provided by Visa® or Mastercard® and may vary by product. See the respective Guide to Benefits for details, as terms and exclusions apply.
Upon enrollment, accessible through the Capital One website or mobile app, eligible cardholders will remain at upgraded status level through December 31, 2024. Please note, enrolling through the normal Hertz Gold Plus Rewards enrollment process (e.g. at Hertz.com) will not automatically detect a cardholder as being eligible for the program and cardholders will not be automatically upgraded to the applicable status tier. Additional terms apply.
*The information for the Capital One Venture X Rewards Credit Card, Chase Freedom Flex®, IHG One Rewards Premier Credit Card, Ink Business Preferred® Credit Card, Prime Visa and Wells Fargo Reflect® Card has been collected independently by Blueprint. The card details on this page have not been reviewed or provided by the card issuer.
Blueprint is an independent publisher and comparison service, not an investment advisor. The information provided is for educational purposes only and we encourage you to seek personalized advice from qualified professionals regarding specific financial decisions. Past performance is not indicative of future results.
Blueprint has an advertiser disclosure policy. The opinions, analyses, reviews or recommendations expressed in this article are those of the Blueprint editorial staff alone. Blueprint adheres to strict editorial integrity standards. The information is accurate as of the publish date, but always check the provider’s website for the most current information.
