15 Best Credit Cards of 2020

(Image Source: Chase)

Pricing and Fees

• Purchase Annual Percentage Rate (APR): 0% Intro APR for the first 15 months that your account is open. After that, 14.99% to 23.74% (variable).
• Balance Transfer APR: 0% Intro APR for the first 15 months that your account is open, and, 14.99% to 23.74% afterwards (variable).
• Cash Advance APR: 24.99% (variable).
• Minimum Interest Charge: None
• Annual Membership Fee: None
• Balance Transfers: Intro fee of either $5 or 3% of the amount of each transfer, whichever happens to be greater, on transfers made within 60 days of account opening. After that: Either $5 or 5% of the amount of each transfer, whichever happens to be greater.
• Cash Advances: Either $10 or 5% of the amount of each transaction, whichever happens to be greater.
• Foreign Transactions: 3% of the amount of every transaction in US dollars.
• Late Payment: Up to $39
• Over-the-Credit-Limit: None
• Return Payment: Up to $39
• Return Check: None

Support

Customers can contact support or schedule a meeting with a banker.

Our Verdict 

The Chase Freedom Unlimited® card is one of the top rated Visa-branded credit cards.There is no annual fee and the rewards system is simple: 1.5% cashback on all purchases.

There is also a decent sign-up bonus as well as a 0% intro APR for the first 15 months.

The downsides are the foreign transaction fee and the potentially high ongoing APR, depending on your creditworthiness.

Pricing and Fees

• Annual Percentage Rate (APR) for Purchases: 0% Introductory APR for the first 15 statement closing dates following the opening of your account. After that, 13.99% to 23.99% (variable).
• APR for Balance Transfers: 0% Introductory APR for the first 15 statement closing dates following the opening of your account for transactions made within 60 days of opening your account. After that, 13.99% to 23.99% (variable).
• APR for Cash Advances: 16.99% to 26.99%, based on your creditworthiness when you open your account, for direct deposit and check cash advances, and 27.24% for bank cash advances.
• Penalty APR: Up to 29.99%
• Minimum Interest Charge: $1.50
• Annual Fee: None
• Purchase Fee: Either $10 or 5% of the amount of each transaction, whichever happens to be greater.
• Balance Transfer: Either $10 or 3% of the amount of each transaction, whichever happens to be greater.
• Direct Deposit and Check Cash Advances: Either $10 or 3% of the amount of each transaction, whichever happens to be greater.
• ATM, Over-the-Counter, Same-Day Online and Cash Equivalent Cash Advances: Either $10 or 5% of the amount of each transaction, whichever happens to be greater.
• Overdraft Protection Cash Advance (if enrolled): $12 for each transaction.
• Foreign Transaction fee: 3% of the U.S. dollar amount of every transaction either in a foreign currency, or in US dollars if it was made or processed outside of the USA. This is in addition to any other charge that may apply.
• Late Payment: Up to $40
• Returned Payment : Up to $29

Support 

You have the option to schedule an appointment with a credit card specialist. You can also contact a credit card customer service representative 24/7.

Our Verdict 

Bank of America® Cash Rewards users have the option to get 3% cashback in the category of their choice: gas, online shopping, dining, travel, drug stores, or home improvement/furnishings. Frequent online shoppers can take advantage of this offer and earn their 3% cashback. This makes the Bank of America® Cash Rewards Credit Card one of the best credit cards for shopping online.

Another perk for online shoppers is the paperless credit card statement option. And to top it all off – online and mobile banking.

What we didn’t like about this card is the high penalty APR of up to 29.99%, as well as the late payment fee and the returned payment fee.

Nonetheless, if you are a responsible credit card holder, this is one of the best cash back cards for online shoppers.

Pricing and Fees

• Annual Percentage Rate (APR) for Purchases: 0% intro APR for 6 months from the date of account opening. After the intro APR expires, 12.99% to 21.99% (variable).
• APR for Balance Transfers: 10.99% intro APR for 6 months from the date of first transfer. After the intro APR expires, your APR will be 12.99% to 21.99% (variable).
• APR for Cash Advances: 24.99%
• Penalty APR: None
• Minimum Interest Charge: If you are charged interest, the charge will be no less than $0.50.
• Annual Fee: None
• Balance Transfer: Intro fee of 3% with the 10.99% intro APR balance transfer. After that, 5%.
• Cash Advance: Either $10 or 5% of the amount of each advance, whichever happens to be greater.
• Late Payment: None the first time you pay late. After that, up to $40.
• Returned Payment: Up to $40.
• Foreing Transaction Fee: None
• Overlimit Fee: None

Support 

You can either call or chat with a Discover agent. They are available 24 hours a day.

We tried contacting support via chat and received a reply within a few minutes. 

Our Verdict 

The Discover it® Student Cash Back is one of the best credit cards for students – American students though.

What we liked about this card is the $0 annual fee and the good grades reward.

Another plus is that students can earn cash back, which also makes this one of the best cash back credit cards for them.

What we didn’t like is the quarterly rotation of the Discover card bonus categories. Users also need to activate the cash back each quarter.

Another downside is that a social security number is required to apply, so this isn’t the right card for international students. The cards also aren’t as accepted worldwide as Visa and Mastercard.

Pricing and Fees

• Annual Percentage Rate (APR) for Purchases: 0% introductory APR for the first 12 months. After that, 12.99% to 23.99% (variable).
• APR for Balance Transfers: 0% introductory APR for the first 12 months on balance transfers requested within 60 days of account opening. After that, 12.99% to 23.99% (variable).
• APR for Cash Advances: 25.24% (variable)
• Penalty APR: 29.24% (variable)
• Plan Fee (Fixed Finance Charge): 0% introductory plan fee on each purchase moved into a plan during the first 12 months. After that, your plan fee will be up to 1.17% of each purchase moved into a plan based on the plan duration, the APR that would otherwise apply to the purchase and other factors.
• Annual Membership Fee: $95
• Balance Transfer: Either $5 or 3% of the amount of each transfer, whichever happens to be greater.
• Cash Advance: Either $10 or 5% of the amount of each advance, whichever happens to be greater.
• Foreign Transaction: 2.7% of each transaction after conversion to US dollars.
• Late Payment: Up to $40
• Returned Payment: Up to $40
• Overlimit: None

Support 

We contacted the support team via chat and received an answer immediately. The customer service team is available 24/7 via phone or chat.

Our Verdict 

The Blue Cash Preferred® Card from American Express is one of the best credit cards for cash back.

Users get 6% cash back from supermarket purchases in the U.S. While there is a $6,000 annual cap, after that you still get 1% cash back. Then there is the 3% cash back on gas and transit, such as ridesharing. And let’s not forget the cash sign-up bonus.

The only downsides are the annual fee and late payment fee, however, if you use the card frequently, the annual fee will be offset.

If you are part of a family of four, then this is one of the best credit cards for shopping groceries.

(Image Source: Wells Fargo)

Pricing and Fees

• Annual Percentage Rate (APR) on purchases: 0.00% introductory APR for 12 months. After that, your APR will be 13.99% to 25.99% (variable)
• Annual Percentage Rate (APR) on balance transfers: 0.00% introductory APR for 12 months. After that, your APR will be 13.99% to 25.99% (variable)
• APR for Cash Advances and Overdraft Protection Advances: 23.99% to 25.99% (variable)
• Minimum Interest Charge: $1
• Annual Fee: None
• Balance Transfers: Introductory fee of either $5 or 3% of the amount of each balance transfer, whichever happens to be greater, for 120 days from account opening. After that, up to 5% for each balance transfer, with a minimum of  $5
• Cash Advances: Either $10 or 5% of the amount of each advance, whichever happens ot be greater.
• Overdraft Protection Advances: $12.50 if the total of overdraft protection advances for the day is $50 or less; $20 if the total of overdraft protection advances for the day is greater than $50
• Foreign Currency Conversion Fee: None
• Late payment: Up to $37
• Returned Check or Returned Payment: Up to $37

Support

Customer support can be contacted 24/7.

Our Verdict 

The  Wells Fargo Propel American Express® card is one of the best credit cards with no annual fee and a good rewards system. It is one of the best looking credit cards too on account of its vibrant colors.

Cardholders can earn 3x points on gas stations, as well as on other categories such as eating out and ordering in, rideshares, and transit. So, besides being a good card for gas rewards, it is also good for travelers and perhaps the best credit card for restaurants.

What we didn’t like were the high fees, such as the 5% for each balance transfer. And Amex cards are not as accepted as Visa and Mastercard.

(Image Source: Capital One)

Pricing and Fees

• Annual Percentage Rate (APR) for Purchases and Quick Cash: 17.99%, 23.24% or 26.99% (variable)
• APR for Transfers: 17.99%, 23.24% or 26.99% (variable)
• APR for Cash Advances: 26.99% (variable)
• Annual Fee: None
• Transfer fee: 3% of the amount of each transferred balance that posts to your account at a promotional APR. None for balances transferred at the Transfer APR.
• Cash Advance: Either $10 or 3% of the amount of each advance, whichever happens to be greater.
• Penalty Fee: Up to $39.

Support 

Cardholders have access to 24/7 support.

Our Verdict 

With a rewards earning rate of 1% to 5%, the Capital One® Walmart Rewards Mastercard is one of the best store credit cards.

It is also a Mastercard branded card which means it can be used at all merchants accepting Mastercard and not just in Walmart.

The card offers 5% cash back if you order groceries online and 2% cash back if you shop in the store.

What we didn’t like is the high ARP and the fact that there is no intro APR.

It is still one of the best credit card deals for grocery shopping.

(Image Source: Citi)

Pricing and Fees

• Annual Percentage Rate (APR) for Purchases: 0% introductory APR for 12 months from the date of account opening. After that, your APR will be 14.74% to 24.74% (variable).
• APR for Balance Transfers: 0% introductory APR for 21 months from the date of first transfer when transfers are completed within 4 months from the date of account opening. After that, your APR will be 14.74% to 24.74% (variable)
• APR for Cash Advances: 25.24% (variable)
• Minimum Interest Charge: $0.50
• Annual Fee: None
• Balance Transfer: Either $5 or 5% of the amount of each transfer, whichever happens to be greater.
• Cash Advance: Either $10 or 5% of the amount of each advance, whichever happens to be greater.
• Foreign Purchase Transaction: 3% of each purchase transaction after its conversion into US dollars.
• Returned Payment: Up to $40

Support 

Cardholders have access to 24/7 customer support service by phone.

Our Verdict 

The 0% introductory APR is one of the best credit card promotions for balance transfers. This makes Citi Simplicity the perfect card for those who want to consolidate their debt.

What we didn’t like was the high balance transfer fee of 5% and the high ongoing APR. After the intro ends, you should either avoid carrying a balance altogether or switch to a different card if you have the chance.

While the no cash back option is a definite downside, since this is a card intended to help people pay off their debt, it’s maybe a good thing that it doesn’t give cardholders the incentive to spend more.

(Image Source: Citi)

Pricing and Fees

• Annual Percentage Rate (APR) for purchases: 13.99% to 23.99%, based on your creditworthiness (variable).
• APR for Balance Transfers: 0% introductory APR for 18 months from the date of first transfer when transfers are completed within 4 months from the date of account opening. After that, APR will be 13.99% to 23.99% (variable)
• APR for cash advances: 25.24%
• Penalty APR: Up to 29.99%. This APR may be applied to your account if you make a late payment or a payment that is returned.
• Minimum Interest Charge: $0.50
• Annual Fee: None
• Balance Transfer: Either $5 or 3% of the amount of each transfer, whichever happens to be greater.
• Cash Advance: Either $10 or 5% of the amount of each advance, whichever happens to be greater.
• Foreign Purchase Transaction: 3% of each purchase transaction in U.S. dollars.
• Late Payment: None for the first late payment; up to $40 after that.
• Returned Payment: Up to $40

Support

Cardholders have access to 24/7 customer service.

Our Verdict 

The Citi® Double Cash Card is among the best credit cards for those who value simplicity and don’t want to bother with figuring out which purchases bring the most rewards.

This card makes it simple, offering a flat earnings rate.

On the flip side, a flat rate cash back card means a lack of a sign-up bonus or high rewards.

Pricing and Fees

• Annual Percentage Rate (APR) for Purchases: 22.99% (variable)
• APR for Balance Transfers: 10.99% APR intro for the first 6 months, then 22.99%variable
• APR for Cash Advances: 24.99%
• Penalty APR: None
• Minimum Interest Charge: $0.50
• Annual Fee: None
• Balance Transfer: Intro fee of 3% (with 10.99% intro APR), then 5%
• Cash Advance: Either $10 or 5% of the amount of each advance, whichever happens to be greater.
• Late Payment: None the first time you pay late. After that, up to $40.
• Returned Payment: Up to $40
• Foreign Transaction Fee: None

Support

You can either call a Discover agent or chat with one. They are available 24 hours a day.

We tried contacting support via chat and received a reply within a few minutes.

Our Verdict 

The Discover It Secured Card is definitely one of the best credit cards to build credit.

What we liked most about this card is that it has no annual fee and the fact that it is one of the few secured cards that offer cash back.

After you have had the card for 8 months, Discover will regularly report to the three major credit bureaus. This also makes it one of the best credit cards for short credit history.

What we didn’t like was the Discover card interest rate. If you are someone that will only be making the minimum payment, we suggest looking into low interest credit cards.

Another thing we didn’t like is the fact that after you apply, Discover will place an inquiry on your credit file. And if you don’t have good credit, this can further hurt your score.

Factors that can prevent your application from being approved are: income, bankruptcy, debt or recent delinquency, and not providing a security deposit.

Pricing and Fees

• Annual Percentage Rate (APR) for Purchases: 0.00% introductory APR for 18 months. After that, your APR will be 15.49% to 24.99% (variable).
• Annual Percentage Rate (APR) for Balance Transfers: 0.00% introductory APR for 18 months. After that, your APR will be 15.49% to 24.99% (variable).
• APR for Cash Advances and Overdraft Protection Advances: 23.99% to 25.99% (variable).
• Minimum Interest Charge: $1.00.
• Balance Transfers: Introductory fee of either $5 or 3% of the amount of each balance transfer, whichever happens to be greater, for 120 days from account opening. After that, up to 5% for each balance transfer, with a minimum of  $5.
• Cash Advances: Either $10 or 5% of the amount of each advance, whichever happens to be greater.
• Overdraft Protection Advances: $12.50 if the total of overdraft protection advances for the day is $50 or less; $20 if the total of overdraft protection advances for the day is greater than $50.
• Foreign Currency Conversion Fee: 3% of each transaction converted to U.S. dollars.
• Late payment: Up to $37
• Returned Check or Returned Payment: Up to $37

Support 

Customer support is available via phone and email. You also have the option to make an appointment with a banker.

Our Verdict 

With an intro period of 18 months, the Wells Fargo Platinum card is the best 0% interest credit card. If you have some debt to pay out, then you can take advantage of the lengthy 0% APR period and $0 annual fee.

Wells Fargo cardholders also have access to some additional features, such as cell phone protection, travel accident insurance, etc.

What we didn’t like is that the card offers no rewards. There is also a balance transfer fee of 3%.

After the promo period ends and you have paid out your loans and debt, there is no incentive to use the card. You can then look at some other credit card offers and pick the best credit card for your current needs.

Pricing and Fees

• Purchase Annual Percentage Rate (APR): 15.99% to 22.99% (variable)
• Balance Transfer APR: 15.99% to 22.99% (variable)
• Cash Advance APR: 24.99% (variable)
• Minimum Interest Charge: None
• Annual Membership Fee: $95
• Balance Transfers: Either $5 or 5% of the amount of each transfer, whichever happens to be greater.
• Cash Advances: Either $10 or 5% of the amount of each transaction, whichever happens to be greater.
• Foreign Transaction Fee: None
• Late Payment: Up to $39
• Return Payment: Up to $39.
• Return Check: None

Support 

Chase Sapphire Preferred® credit card users have access to a customer service specialist 24/7.

Our Verdict 

Due to its numerous travel perks, we consider Chase Sapphire Preferred® one of the best travel credit cards.

You earn points on airfare, hotels, dining, and cafes. It also has one of the best credit card sign-up bonuses – 60,000 bonus points if you spend $4,000 in the first 3 months.

And every traveler can agree that a $0 foreign transaction fee is what you should look for in a card.

The only downside is the annual fee of $95 and the high credit score requirements. It is recommended that applicants have a very good or excellent credit score.

(Image Source: Capital One)

Pricing and Fees

• Annual Percentage Rate (APR) for Purchases and Transfers: 26.99% (variable)
• APR for Cash Advances: 26.99% (variable)
• Annual Fee: None
• Transfer Fee: None
• Cash Advance: Either $10 or 3% of the amount of each advance, whichever happens to be greater.
• Late Payment: Up to $39

Support 

Capital One credit card holders have access to 24/7 customer service.

Our Verdict 

The Platinum Credit Card from Capital One is the best starter credit card, as well as one of the best credit cards for fair credit.

For starters, you can check if you are prequalified without any impact on your credit score. There is no annual fee and you will also automatically be considered for a higher credit line in as little as 6 months.

The downside is that there is no cash back and the APR is high.

That said, if you pay your balance on time and avoid overspending, you will be able to build your credit in no time. It is one of the good credit cards for fair credit. You will also be able to take advantage of all of the benefits offered to users of Capital One credit cards, such as fraud coverage, travel accident insurance, autopay, etc.

Pricing and Fees

• Purchase Annual Percentage Rate (APR): 16.49% to 23.49% (variable)
• Balance Transfer APR: 16.49% to 23.49% (variable)
• Cash Advance APR: 24.99% (variable)
• Minimum Interest Charge: None
• Annual Membership Fee: $0 Intro fee for the first year. After that, $95
• Balance Transfers: Either $5 or 5% of the amount of each transfer, whichever happens to be greater.
• Cash Advances: Either $10 or 5% of the amount of each transaction, whichever happens to be greater.
• Foreign Transactions: None
• Late Payment: Up to $39
• Return Payment: Up to $39
• Return Check: None

Support 

Customer support can be contacted via phone.

Our Verdict 

The United Explorer card has one of the best credit card offers for frequent flyers. You have the option to get 60,000 bonus miles after you spend $3,000 on purchases in the first 3 months after your account is open. And there is no annual fee during the first year. That’s what we call a warm welcome.

While this is one of the best credit cards for frequent flyers, the miles earned can only be used on flights from United Airlines and its partners. If you aren’t flying frequently with United, you should probably check out some other good credit cards for flyers.

(Image Source: Citi Cards)

Pricing and Fees

• Annual Percentage Rate (APR) for Purchases: 18.89% (variable)
• APR for Cash Advances: 18.89% (variable)
• Minimum Interest Charge: $1.00.
• Annual Fee: $35
• Cash Advance: Either $6 or 5% of the amount of each advance, whichever happens to be greater
• Foreign Transaction: 3% of each transaction in U.S. dollars
• Late Payment: Up to $38
• Returned Payment: Up to $25

Support 

As stated on the official website, OpenSky can be contacted by mail or by phone.

Our Verdict 

OpenSky is one of the best-secured credit cards to build credit with. They don’t check your credit when you apply, so you can do it even with a bad credit profile, and your credit score won’t be affected. While the minimum refundable deposit is $200, you can request a line of credit increase.

The only downsides are the annual fee and the lack of an intro APR offer. However, if you pay your balance on time and never miss a monthly payment, you will be able to improve your credit score. That is what makes the OpenSky® Secured Visa® Credit Card one of the top credit cards to have if you are trying to rebuild your credit.

Pricing and Fees

• Annual Percentage Rate (APR) for Purchases: 15.99% to 24.99% (variable)
• APR for Cash Advances: 25.24% (variable)
• Penalty APR and When it Applies: Up to 29.99% (variable). This APR may be applied to your account if you make a late payment or make a payment that is returned.
• Minimum Interest Charge: $0.50
• Annual Fee: $99. It, however, is waived for the first 12-month period.
• Cash Advance: Either $10 or 5% of the amount of each advance, whichever happens to be greater.
• Foreign Purchase Transaction: None
• Late Payment: $39
• Returned Payment: $39

Support 

Citi business credit cardholders can contact Customer Support via phone.

Our Verdict 

The Citi credit card is one of the best business credit cards for professionals that travel domestically frequently.

The Citi credit card offers are mostly geared towards professionals that go on business trips. Cardholders get preferred boarding and 25% savings on in-flight purchases. They can also earn miles on American Airlines, gas, and rental cars, etc.

The drawbacks are that cardholders need to fly frequently with American Airlines to get the advantage of the miles earned.

If you do fly with American Airlines regularly, it is one of the top credit cards to have.