15 Best Credit Cards of 2020

[Which One Is Perfect for You?]

What are the best credit cards? 

We have analyzed the best credit cards of 2020 and found the top 15.

On this page you can read our reviews and find the following information:

  • Which credit cards we recommend
  • Their key features, pros, cons, and pricing
  • Our review methodology
  • A guide on how to find the right credit card for you
  • Tips on how to get a credit card with bad credit
  • Frequently asked questions about credit cards

Now:

What is the best credit card to get?

It depends on your individual financial situation and credit score, so you can find out by

  • Reading our full reviews and
  • Comparing the best credit card offers.
Show more

Top 15 Credit Cards 2020

1. Chase Freedom Unlimited®

The Chase Freedom Unlimited® is the best Visa card – no annual fee, 0% intro APR and a sign-up bonus. There is also a simple rewards system of 1.5% cashback on all purchases, for those that don’t want to bother activating this feature each quarter. Full Review

  • Annual Fee: $0
  • Foreign Transaction Fee: 3%
  • Rewards Earning Rate: Earn unlimited 1.5% cashback + Refer a friend
SpendMeNot Choice

The Chase Freedom Unlimited® is the best Visa card – no annual fee, 0% intro APR and a sign-up bonus. There is also a simple rewards system of 1.5% cashback on all purchases, for those that don’t want to bother activating this feature each quarter. Full Review

2. Bank of America® Cash Rewards Credit Card

The Bank of America® Cash Rewards Credit Card has no annual fee and is one the best credit cards for rewards for online shopping. Cardholders have the option to earn 3% cashback in a category of their choice – and online shopping is one of those. The other categories are gas, dining, travel, drug stores, or home improvement/furnishing. Full Review

  • Annual Fee: $0
  • Recommended Credit Score: Very Good – Excellent
  • Annual Percentage Rate (APR): 13.99% to 23.99% (variable)

The Bank of America® Cash Rewards Credit Card has no annual fee and is one the best credit cards for rewards for online shopping. Cardholders have the option to earn 3% cashback in a category of their choice – and online shopping is one of those. The other categories are gas, dining, travel, drug stores, or home improvement/furnishing. Full Review

3. Discover it® Student Cash Back

Students have little to no credit history, which is why they should consider credit cards for students. The Discover it® Student Cash Back card even has a good grade reward! It is one of the best cash bonus credit cards aimed at students. Full Review

  • Annual Percentage Rate (APR): 12.99% to 21.99% (variable)
  • Annual Fee: $0
  • Recommended Credit Score: Fair – Good – Very Good – Excellent

Students have little to no credit history, which is why they should consider credit cards for students. The Discover it® Student Cash Back card even has a good grade reward! It is one of the best cash bonus credit cards aimed at students. Full Review

4. Blue Cash Preferred® Card from American Express

With the Blue Cash Preferred® Card you get 6% cash back at US supermarkets. Add the 3% cash back on gas and the 1% cash back on other purchases, and we can all agree that the Blue Cash Preferred® Card has the best credit card rewards. Full Review

  • Intro Offer: 0% introductory APR for the first 12 months
  • Annual Percentage Rate (APR): 12.99% to 23.99% (variable)
  • Rewards Earning Rate: 6% cash back at US supermarkets, 1-3% on other purchases

With the Blue Cash Preferred® Card you get 6% cash back at US supermarkets. Add the 3% cash back on gas and the 1% cash back on other purchases, and we can all agree that the Blue Cash Preferred® Card has the best credit card rewards. Full Review

5. Wells Fargo Propel American Express® Card

With a 3x points rewards rate on eating out, ordering in, gas stations, rideshares and transit, the Wells Fargo Propel American Express is one of the best credit cards for gas. And overall spending on going out too! There is no annual fee but there is a tempting sign-up bonus. Full Review

  • Earn 1x points on other purchases
  • Annual Fee: $0
  • Annual Percentage Rate (APR): 13.99% to 25.99% (variable)

With a 3x points rewards rate on eating out, ordering in, gas stations, rideshares and transit, the Wells Fargo Propel American Express is one of the best credit cards for gas. And overall spending on going out too! There is no annual fee but there is a tempting sign-up bonus. Full Review

6. Capital One® Walmart Rewards™ Mastercard

If you are going to be shopping at Walmart on a regular basis, you might as well earn some cash back by using the Capital One® Walmart Rewards™ Mastercard. Loyal shoppers using the Walmart Pay app can earn 5% cash back. Full Review

  • Foreign Transaction Fee: None
  • Annual Fee: $0
  • Annual Percentage Rate (APR): 17.99%, 23.24% or 26.99% (variable)

If you are going to be shopping at Walmart on a regular basis, you might as well earn some cash back by using the Capital One® Walmart Rewards™ Mastercard. Loyal shoppers using the Walmart Pay app can earn 5% cash back. Full Review

7. Citi Simplicity®

The Citi Simplicity credit card is among the best credit cards to apply for, if you have some debt to consolidate! There is a 0% Intro APR for 21 months on balance transfers and for 12 months on purchases! Full Review

  • Annual Fee: $0
  • Annual Percentage Rate (APR): 14.74% to 24.74% (variable)
  • Foreign Transaction Fee: 3%

The Citi Simplicity credit card is among the best credit cards to apply for, if you have some debt to consolidate! There is a 0% Intro APR for 21 months on balance transfers and for 12 months on purchases! Full Review

8. Citi® Double Cash Card

The Citi® Double Cash Card has a simple reward system – you can get 2% on each purchase with unlimited 1% cash back, plus an additional 1% as you pay for those purchases. If you are looking for a simple, no hassle card, then this is the best credit card to have. Full Review

  • Annual Fee: $0
  • Recommended Credit Score: Excellent
  • Intro Offer: 0% introductory APR for balance transfers for 18 months

The Citi® Double Cash Card has a simple reward system – you can get 2% on each purchase with unlimited 1% cash back, plus an additional 1% as you pay for those purchases. If you are looking for a simple, no hassle card, then this is the best credit card to have. Full Review

9. Discover it® Secured

The Discover it® Secured is one of the few secured cards that offer the option to upgrade to an unsecured one. It is also one of the few secured cards that offer cash back. All in all, it is one of the best credit cards for people who are trying to build or rebuild their credit. Full Review

  • Foreign Transaction Fee: None
  • Annual Percentage Rate (APR): 22.99% (variable)
  • Annual Fee: $0

The Discover it® Secured is one of the few secured cards that offer the option to upgrade to an unsecured one. It is also one of the few secured cards that offer cash back. All in all, it is one of the best credit cards for people who are trying to build or rebuild their credit. Full Review

10. Wells Fargo Platinum Visa

If you have some debt to erase, then this may just be the right card for you. There is a 0.00% introductory APR for 18 months, as well as no annual fee. Full Review

  • Intro Offer: 0.00% introductory APR for 18 months
  • Annual Percentage Rate (APR): 15.49% to 24.99% (variable)
  • Annual Fee: $0

If you have some debt to erase, then this may just be the right card for you. There is a 0.00% introductory APR for 18 months, as well as no annual fee. Full Review

11. Chase Sapphire Preferred®

No foreign transaction fee, a large bonus, cash back on travel and dining… Chase Sapphire Preferred® is among the best credit cards for travel. Full Review

  • Foreign Transaction Fee: None
  • Annual Percentage Rate (APR): 15.99% to 22.99% (variable)
  • Rewards Earning Rate: Earn 2X points on travel and dining at restaurants

No foreign transaction fee, a large bonus, cash back on travel and dining… Chase Sapphire Preferred® is among the best credit cards for travel. Full Review

12. Capital One® Platinum Credit Card

The reason why the Capital One® Platinum Credit Card is among the best credit cards for first timers, is the option to check if you are prequalified on their website without any impact on your score. It is also geared towards people with a fair credit score on the FICO scale (580 or higher). And you will also have a good chance to build your credit. Full Review

  • Annual Fee: $0
  • Annual Percentage Rate (APR): 26.99% (variable)
  • Foreign Transaction Fee: None

The reason why the Capital One® Platinum Credit Card is among the best credit cards for first timers, is the option to check if you are prequalified on their website without any impact on your score. It is also geared towards people with a fair credit score on the FICO scale (580 or higher). And you will also have a good chance to build your credit. Full Review

13. UnitedSM Explorer Card

The UnitedSM Explorer Card is the perfect card for frequent flyers that want to earn some cash back during their travels. If you fly with United regularly, then this is one of the best reward credit cards for you. Full Review

  • Foreign Transaction Fee: None
  • Recommended Credit Score: Very Good – Excellent
  • Rewards Earning Rate: 2 miles per $1 spent on United purchases, 2 miles

The UnitedSM Explorer Card is the perfect card for frequent flyers that want to earn some cash back during their travels. If you fly with United regularly, then this is one of the best reward credit cards for you. Full Review

14. OpenSky® Secured Visa® Credit Card

The main perk of the OpenSky® Secured Visa® Credit Card is that no credit check is required. While applicants do need to meet some requirements, it is the easiest credit card to get for those with bad credit. Full Review

  • Recommended Credit Score: Fair
  • Foreign Transaction Fee: 3%
  • Annual Percentage Rate (APR): 18.89% (variable)

The main perk of the OpenSky® Secured Visa® Credit Card is that no credit check is required. While applicants do need to meet some requirements, it is the easiest credit card to get for those with bad credit. Full Review

15. CitiBusiness® / AAdvantage® Platinum Select® World Mastercard®

The CitiBusiness® / AAdvantage® Platinum Select® World Mastercard® is one of the best credit card deals right now for business travelers. There is a big sign-up bonus, as well as extra perks when flying with American Airlines, such as preferred boarding. Full Review

  • Annual Percentage Rate (APR): 15.99% to 24.99% (variable)
  • Foreign Transaction Fee: None
  • Recommended Credit Score: Excellent

The CitiBusiness® / AAdvantage® Platinum Select® World Mastercard® is one of the best credit card deals right now for business travelers. There is a big sign-up bonus, as well as extra perks when flying with American Airlines, such as preferred boarding. Full Review

Best Credit Cards 2020

Detailed Reviews

Chase Freedom Unlimited®
Chase Freedom Unlimited®

BEST FOR

Best overall, best Visa card.

Visit Website
SpendMeNot Choice
  • Annual Fee: $0
  • Annual Percentage Rate (APR): 14.99% to 23.74% (variable)
  • Intro Offer: 0% Intro APR for the first 15 months that your account is open.
  • Sign-up Bonus: $200 cash back after you spend $500 on purchases in your first 3 months from account opening.
  • Rewards Earning Rate: Earn unlimited 1.5% cashback + Refer a friend
  • Recommended Credit Score: Good – Very Good – Excellent
  • Foreign Transaction Fee: 3%
Pros Cons
No annual fee Foreign transaction fee
Sign-up bonus High APR (based on your credit score)
Earn unlimited 1.5% cash back
0% intro APR for the first 15 months that your account is open
Contactless pay
Cashback rewards do not expire
$100 friend referral cashback

Best Credit Cards - Chase Freedom Unlimited

(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.

  • Annual Fee: $0
  • Annual Percentage Rate (APR): 13.99% to 23.99% (variable)
  • Intro Offer: 0% Introductory APR for the first 15 statement closing dates following the account opening.
  • Rewards Earning Rate: 3% cashback in the category of your choice, 2% cash back at grocery stores and wholesale clubs, 1% cashback on all other purchases.
  • Recommended Credit Score: Very Good – Excellent
  • Sign-up Bonus: Online $200 cash rewards bonus after making at least $1,000 in purchases in the first 90 days of your account opening.
  • Foreign Transaction Fee: 3%
Pros Cons
3% cashback in your selected category: online shopping, dining, travel, gas, drug stores, or home improvement/furnishing You’ll earn 3% and 2% cashback on the first $2,500 spent in the selected choice category – grocery shopping/wholesale club purchases each quarter, then earn 1%.
$200 online cash rewards bonus offer High fees
Paperless Statement Option
Account Alerts
Access to FICO Score
Online banking and mobile banking
Digital Wallet Technology

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.

  • Annual Fee: $0
  • Annual Percentage Rate (APR): 12.99% to 21.99% (variable)
  • Intro Offer: 0% intro APR on purchases for 6 months from the date of account opening + 10.99% intro APR for 6 months for balance transfers.
  • Rewards Earning Rate: 5% cash back on everyday purchases, 1% on all other purchases
  • Recommended Credit Score: Fair – Good – Very Good – Excellent
  • Foreign Transaction Fee: None
Pros Cons
Cash back (doesn’t expire, redeem rewards at any time) Discover cards are not widely accepted worldwide
Good Grade Rewards (GPA of 3.0 or higher) Cash Back Bonus needs to be activated each quarter and the Discover Bonus categories are different each quarter
Freeze it Option Social security number is required
Identity Alerts (Social Security Number Alerts, New Inquiry Alerts, New Account Alerts) An inquiry will be placed on your credit file which can affect your credit score score
Free overnight card replacement
No annual fee
No foreign transaction fee
No overlimit fee
$0 Fraud Liability
Access to your credit score

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.

  • Annual Fee: $95
  • Annual Percentage Rate (APR): 12.99% to 23.99% (variable).
  • Intro Offer: 0% introductory APR for the first 12 months.
  • Rewards Earning Rate: 6% cash back at US supermarkets, 1-3% on other purchases
  • Recommended Credit Score: Very Good – Excellent
  • Sign-up Bonus: Earn $250 statement credit after you spend $1,000 in purchases on your new Card in your first 3 months.
  • Foreign Transaction Fee: 2.7% of each transaction after conversion to US dollars.

Pros Cons
6% Cash back at U.S. supermarkets Annual fee
6% Cash back on select U.S. streaming subscriptions Not as accepted as Visa and Mastercard
3% Cash back on transit $25 minimum redemption amount
3% Cash back on gas at U.S. gas stations Penalty APR
1% Cash back on other purchases
Car Rental Loss and Damage Insurance
Global Assist Hotline
Return Protection
Exclusive access to ticket presales and card member-only events
Fraud protection
Online account management
Year-End Summary

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.

Blue Cash Preferred support

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.

  • Annual Fee: $0
  • Annual Percentage Rate (APR): 13.99% to 25.99% (variable)
  • Intro Offer: 0.00% introductory APR for 12 months. After that, your APR will be 13.99% to 25.99% (variable)
  • Rewards Earning Rate: Earn 3x points on eating out and ordering in, gas stations, rideshares, transit, flights, hotels, homestays, car rentals
  • Earn 1x points on other purchases.
  • Sign-up Bonus: Earn 20,000 bonus rewards points after spending $1,000 in purchases in the first 3 months – a $200 cash redemption value
  • Recommended Credit Score: Good – Very Good – Excellent
  • Foreign Transaction Fee: None
Pros Cons
No annual fee High fees
No limit to the points you can earn High credit score requirements
Points will not expire while your account is open Amex cards aren’t as accepted as Visa and Mastercard
Earn points when eating out and ordering in, gas stations, rideshares, transit, flights, hotels, homestays, and car rentals
Earn points on other purchases
24/7 Fraud Monitoring
Alerts
Zero liability protection
Advance access to tickets
Purchase and travel protections
Retail protection
Lost luggage reimbursement
Car rental loss and damage insurance
Roadside assistance
24/7 travel and emergency assistance, and emergency cash advances

Wells Fargo Propel American Express

(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.

  • Annual Fee: $0
  • Annual Percentage Rate (APR): 17.99%, 23.24% or 26.99% (variable)
  • Sign-Up Bonus: 5% back in Walmart stores for the first 12 months after approval when you use your Capital One® Walmart Rewards™ Card with Walmart Pay
  • Rewards Earning Rate: 5% at Walmart.com including Grocery Pickup and Delivery. Earn unlimited 2% back at restaurants and on travel, as well as 2% back in Walmart stores and at Walmart and Murphy USA Fuel Stations. You can also get 1% back everywhere else Mastercard® is accepted.
  • Recommended Credit Score: Good – Very Good – Excellent
  • Foreign Transaction Fee: None
Pros Cons
Earning 5% at Walmart.com including grocery pickup and delivery No intro APR
Earning 2% back at restaurants and on travel High APR
Earning 2% back in Walmart stores and at Walmart and Murphy USA Fuel Stations
Earning 1% back everywhere else Mastercard® is accepted
Earning 5% back in Walmart stores for the first 12 months after approval when you use your Capital One® Walmart Rewards™ Card with Walmart Pay
No annual fee
Mobile App
Fraud Coverage
No foreign transaction fees
Rewards don’t expire

(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.

Citi Simplicity®
Citi Simplicity®

BEST FOR

People with debt, balance transfers.

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  • Annual Fee: $0
  • Annual Percentage Rate (APR): 14.74% to 24.74% (variable)
  • Intro Offer: 0% Intro APR for 21 months on balance transfers and for 12 months on purchases
  • Recommended Credit Score: Good – Very Good – Excellent
  • Foreign Transaction Fee: 3%
Pros Cons
0% intro APR for 21 months on balance transfers and for 12 months on purchases High fees
0% introductory APR for purchases for 12 months from the date of account opening. High APR after the intro ends
Identity theft protection No rewards program
Purchase protection
Digital wallet
Account alerts
Contactless pay
No annual fee
No late fee

Citi Simplicity

(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.

Citi® Double Cash Card
Citi® Double Cash Card

BEST FOR

Cash back, simplicity.

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  • Annual Fee: $0
  • Annual Percentage Rate (APR): 13.99% to 23.99% (variable)
  • Intro Offer: 0% introductory APR for balance transfers for 18 months
  • Rewards Earning Rate: Earn 2% cash back on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases
  • Recommended Credit Score: Excellent
  • Foreign Transaction Fee: 3%
Pros Cons
No annual fee Penalty APR
0% Intro APR for balance transfers Penalty fees
Earn 2% cash back on every purchase with unlimited 1% cash back when you buy, plus an additional 1% as you pay for those purchases Has a foreign transaction fee
No cash back caps High credit score requirements
No cash back category restrictions
24-hour fraud protection
Citi® identity theft solutions
$0 liability for unauthorized charges
Contactless pay

Citi Double Cash

(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.

Discover it® Secured
Discover it® Secured

BEST FOR

Credit builders.

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  • Annual Fee: $0
  • Minimum Deposit: $200
  • Annual Percentage Rate (APR): 22.99% (variable)
  • Intro Offer: 10.99% APR for Balance Transfers
  • Rewards Earning Rate: 2% cash back at gas stations and restaurants and unlimited 1% cash back on all other purchases
  • Recommended Credit Score: Poor – Fair – Good
  • Foreign Transaction Fee: None
Pros Cons
No annual fee An inquiry will be placed on your credit file which can affect your credit score
Reports to the three major credit bureaus $200 minimum deposit
Cash back Discover cards are not widely accepted worldwide
Refundable security deposit High APR
No late fee on your first late payment You need a U.S. bank account to apply
No foreign transaction fee
Paying late won’t raise your APR
Automatic monthly reviews after 8 months to see if you can upgrade to an unsecured credit card
Freeze It option
Identity Alerts (Social Security Number Alerts, New Inquiry Alerts, New Account Alerts)

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.

Wells Fargo Platinum Visa
Wells Fargo Platinum Visa

BEST FOR

People with debt.

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  • Annual Fee: $0
  • Annual Percentage Rate (APR): 15.49% to 24.99% (variable)
  • Intro Offer: 0.00% introductory APR for 18 months.
  • Rewards Earning Rate: No rewards
  • Recommended Credit Score: Good – Very Good – Excellent
  • Foreign Transaction Fee: 3%
Pros Cons
0.00 % introductory APR for 18 months. High fees after the intro period ends
No annual fee No cash back
Access to your FICO Credit Score Late payment and returned payment fees
Account protection features
Budget tools
Emergency card replacement
Cell phone protection

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.

  • Annual Fee: $95
  • Annual Percentage Rate (APR): 15.99% to 22.99% (variable)
  • Rewards Earning Rate: Earn 2X points on travel and dining at restaurants
  • Recommended Credit Score: Very Good – Excellent
  • Sign-up Bonus: 60,000 bonus points after you spend $4,000 on purchases in the first 3 months after account opening
  • Foreign Transaction Fee: None
Pros Cons
No foreign transaction fees Annual fee
2X points on travel and dining at restaurants High credit score requirement
1 point per each dollar spent on all other purchases
25% more value for airfare, hotels, car rentals, and cruises through Chase Ultimate Rewards.
1:1 point transfer to frequent travel programs
Travel & purchase coverage
5X points on Lyft rides through March 2022
Friend referral program

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.

Capital One® Platinum Credit Card
Capital One® Platinum Credit Card

BEST FOR

First-time credit card holders, credit builders, people with fair credit.

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  • Annual Fee: $0
  • Annual Percentage Rate (APR): 26.99% (variable)
  • Intro Offer: None
  • Rewards Earning Rate: None
  • Recommended Credit Score: Fair – Good
  • Sign-up Bonus : None
  • Foreign Transaction Fee: None
Pros Cons
No annual fee High APR
No foreign transaction fee No cash back
Automatic credit line reviews
Fraud coverage
Access to your credit score
Online banking
Account Alerts
Autopay
Card lock
Touch ID
Reports to all three credit bureaus
Travel accident insurance
An option to see if you’re pre-qualified for Capital One credit card offers, with no impact to your credit score

CapitalOne

(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.

UnitedSM Explorer Card
UnitedSM Explorer Card

BEST FOR

Frequent flyers.

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  • Annual Fee: $0 Intro fee for the first year. After that, $95
  • Annual Percentage Rate (APR): 16.49% to 23.49% (variable)
  • Rewards Earning Rate: 2 miles per $1 spent on United purchases, 2 miles
  • per $1 spent at restaurants and on hotel accommodations when purchased directly with the hotel, 1 mile per $1 spent on all other purchases
  • Recommended Credit Score: Very Good – Excellent
  • Sign-up Bonus: 60,000 bonus miles after you spend $3,000 on purchases in the first 3 months your account is open
  • Foreign Transaction Fee: None
Pros Cons
60,000 bonus miles after you spend $3,000 on purchases in the first 3 months after your account is open Miles can only be used on United airline flights and its partners
No foreign transaction fee Annual fee
2 United Club one-time passes after account opening and on each anniversary Late payment and return payment fee
Free first checked bag
Priority boarding
25% back on food, beverage and Wi-Fi purchases onboard United- and United Express-operated flights
Global Entry or TSA PreCheck Application Fee Statement Credit

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.

OpenSky® Secured Visa® Credit Card
OpenSky® Secured Visa® Credit Card

BEST FOR

People with bad credit.

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  • Annual Fee: $35
  • Annual Percentage Rate (APR): 18.89% (variable)
  • Minimum deposit: $200
  • Intro Offer: None
  • Rewards Earning Rate: None
  • Recommended Credit Score: Fair
  • Foreign Transaction Fee: 3%

CitiBusiness

(Image Source: Citi Cards)

Pros Cons
No credit check required Doesn’t offer the option to upgrade to an unsecured card
Refundable deposit Annual fee
Paperless statements Paper statement fee
Recurring online payments
Reports to credit bureaus once a month
Doesn’t require a checking account to apply

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

Open Sky

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.

  • Annual Fee: $99 (Fee waived for the first 12 months)
  • Annual Percentage Rate (APR): 15.99% to 24.99% (variable)
  • Rewards Earning Rate: 2 AAdvantage® miles for every $1 spent on eligible American Airlines purchases. 2 AAdvantage® miles per $1 spent on purchases at telecommunications merchants, cable and satellite providers, car rental merchants and at gas stations. 1 AAdvantage® mile for every $1 spent on other purchases.
  • Recommended Credit Score: Excellent
  • Sign-up Bonus: 70,000 American Airlines AAdvantage® bonus miles after spending $4,000 in purchases within the first 4 months of account opening.
  • Foreign Transaction Fee: None

 

Pros Cons
First checked bag free on domestic itineraries Has an annual fee after the first year
Preferred boarding High credit score requirement
25% savings on American Airlines inflight Wi-Fi when you use your card. Miles can only be redeemed with American Airlines
Get an American Airlines Companion Certificate for domestic main cabin travel after you spend $30,000 or more in purchases each card membership year and card membership is renewed. No lounge access
Get 2 AAdvantage® miles for every $1 spent on eligible purchases with American Airlines
Get 2 AAdvantage® miles per $1 spent on purchases at telecommunications merchants, cable and satellite providers, car rental merchants and at gas stations
Get 1 AAdvantage® mile for each $1 spent on other purchases
24/7 Personal Business Assistant for help with travel, hotel, and dining arrangements
Online Account Summaries
Digital Wallets
Contactless Pay
No foreign transaction fee


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.

SpendMeNot Methodology 

To review all of the credit cards, we followed these steps in our process:

First, we looked up various credit card reviews.

Then, we made a list of the top credit cards for 2020.

We compared those cards based on pricing, offers, cash back, and other perks offered.

We then divided them by credit card category and made a pros and cons list.

We picked out the winners, or the cards with the highest scores and made a new, shorter list.

We checked the official websites for the cards and looked for a live chat option. We contacted support and included screenshots in the cases where we received a reply from a customer service representative.

Lastly, we made a final review of the top credit cards of 2020 and came up with an even shorter list.

If our list didn’t help you pick a card that is *just right* for you, you can follow our review process or the steps from our buyer’s guide:

Buyer’s Guide: How to Choose a Credit Card

  1. Know your credit score.

You are entitled to one free credit report each year from the three major credit reporting companies: Equifax, Experian, or Transunion. Once you find out your credit range, you will get a better idea of your chances to get your application approved.

  1. Determine whether you will be paying your full balance each month.

If you know that you won’t be able to pay your balance in full, look for a card with lower rates. Or, if you know it won’t be a problem to cover what you owe, look for one with the most cash back.

  1. Make a list of your spending habits.

There are different credit card types based on usage: a miles card, a cash back card, a store card, a credit building card.

So, let’s say you travel out of the country frequently. Look into credit cards with no foreign transaction fees and figure out which one is right for you. Or, if you are constantly staying at hotels, look for the best hotel credit card.

  1. Determine what type of credit card is best for you.

A store credit card? A card with low intro APR? A miles card? A cash back card? An online cash back card?

Before you make a decision, consider the credit card features that matter the most for you.

This depends entirely on your spending habits, current debt, credit score, etc.

  1. Make a list of the best-rated credit cards in the category you choose.

This will help you narrow down your choices. Compare the pricing, perks offered, acceptance rate, and any other factor that may influence your choice.

  1. Check if you meet the qualifying requirements.

There is no point in applying if you don’t meet the requirements. Some companies may offer the option to check if you can prequalify. You can also try reading reviews about the acceptance rates. There is also no harm in contacting customer support to ask about all the requirements, in case you missed something.

  1. Apply for the card that offers the most for its value.

Before applying, take a look at your list and compare credit card offers.

Is the annual fee offset by the rewards? Is the sign-up bonus worth it?

Once you are happy with your choice, it is time to apply. If you get rejected, try to find out the reason why. It will help you with your next credit card application.

Conclusion 

We’ve reviewed the top 15 credit cards from different categories.

There is something for everyone, from credit cards for average credit to credit cards for no credit.

If none of our picks for the best credit cards of 2020 sounds appealing, then you can use our tips which will take you to your perfect credit card match.

Spend responsibly!

FAQ

What Is the Best Credit Card Available?
  • As each financial situation is different, credit cards aren’t one-size-fits-all.

For starters, applicants with the highest credit score can usually get approved for better rates and cards with better perks.

On the other hand, getting a credit card is not an easy process for those with a low credit score. These applicants usually get approved for cards with high rates. Their options are also limited – they can only choose from the credit cards for people with no credit.

Lastly, everyone has different spending habits. People that can always afford to pay their balance in full don’t mind the higher rates.

According to the latest credit card debt statistics, a lot of Americans can’t afford to pay their balance in full and on time. And it is not just credit card debt, as we can see from the latest student loan debt statistics and consumer debt statistics.

To maximize the most out of your credit card, you need to ask yourself.

What is the best credit card for me?

Here is a list of credit cards that we recommend:

What Is the Best Credit Card for 2020?
  • For those looking for a new credit card, our top pick is the Chase Freedom Unlimited®.

It is a Visa-branded card, widely accepted worldwide.

This card has no annual fee and a 0% Intro APR for the first 15 months that your account is open. After the intro period ends, your APR will be anywhere from 14.99% to 23.74%, based on your creditworthiness.

There is also a sign-up bonus: you can earn $200 cash back after you spend $500 on purchases in your first 3 months from your account opening.

With a flat-rate cash back of 1.5% on all purchases, you won’t need to worry about activating the option after the quarter ends, as is the case with some credit cards.

Cardholders can also earn rewards by referring a friend to apply.

The only downsides are the fees, which you can avoid by using the card responsibly.

What Are the Top 5 Credit Cards?
What Credit Card Do Billionaires Use?
  • If there is one thing that the top credit cards used by the ultra trich have in common, it is exclusivity.

People with well-ordered finances don’t apply for credit cards – they receive invites.

Here are some of the most exclusive credit cards:

  • J.P. Morgan Reserve Card

This one is only available by invitation. And to receive it, clients need to have at least $10 million in assets managed by J.P. Morgan Private Bank.

The card has a $595 annual fee but the perks and benefits offered are well worth it.

  • Dubai First Royale Card

The Dubai First Royale Card is also available by invitation only. It doesn’t have a pre-set spending limit and one of its perks is a dedicated relationship manager.

 

  • Centurion® Card from American Express

The Centurion® Card from American Express has a $10,000 initiation fee and a $5,000 annual membership fee. This American Express credit card is also known as the hardest credit card to get.

What Is the Hardest Credit Card to Get?
  • All of the cards we mentioned above are hard to get.

However, most people would agree that the Centurion® Card from American Express holds that title.

Some of the perks offered are:

  • Elite status at major hotel chains, such as Marriott and Hilton.
  • Elite status with Delta.
  • Airport lounge access.
  • Equinox membership.
  • CLEAR membership (expedited security membership).
  • 24/7 concierge service.
  • International arrival service.
  • No spending limit.
Can I Get a Credit Card with Bad Credit?
  • While your options will be limited and you probably won’t get the best credit card rates, nor membership rewards, it is possible to get a credit card with worse than average credit.

Here is how you can go about getting a credit card with a poor credit score:

  • Find out your current credit score

You can contact one of the three major credit reporting companies: Equifax, Experian, or Transunion. You are entitled to one free credit report each year. Take a look at it and check for mistakes. If you find any, you can dispute them and have them removed from your report.

Your credit report will also give you insight into where you are losing most points. Check out these credit score statistics to find out how you compare to the average FICO score, as well as to get some tips on improving your score.

  • Don’t apply for credit cards aimed at people with average or above-average scores

If approval is unlikely, there is no point in applying. If credit card companies do an inquiry, it will further hurt your score.

  • Look into the best credit cards for people with bad credit.

Now:

What is the best credit card for bad credit?

The best credit card for people with bad credit is a secured credit card.

You will be most likely to be approved for this type of credit card, as they are aimed at people with a bad credit history. The companies require a deposit which also affects your credit limit.

You will start off with a really low credit limit, the most common being around $200.

However, you can try using your card as little as possible to maintain a low utilization rate. It is recommended to have a credit utilization rate of around 30% for the best score.

The best thing you can do while building your credit is to use cash. It is not as uncommon as you think! And while you are here, you can have a loot at these cash vs credit card spending statistics.

You will be limited in your credit card usage, however, you will slowly be improving your score.

This is why it is important to get a card from a company that reports to the major credit reporting companies. If the credit card company isn’t reporting regularly or at all, then it won’t make much a difference.

While a secured card is the easiest credit card to get, these types of cards usually have high fees rates. And due to this, it is important to carry a low balance, pay it in full and pay it on time, and never miss a credit card payment. This is a slow but sure way to improve your score.

Some companies allow you to request an increase of your line of credit. Or even upgrade to an unsecured one.

Once you have improved your score, you will be able to apply for a credit card with better rates.

We must note that credit history also affects your score, so it is better to pick an unsecured card that you can upgrade.