There are various credit cards accessible to users, making it difficult to select the best one. There is no such thing as a “one-size-fits-all” credit card, but rather options for different types of individuals – whether you’re a foodie, a road warrior, a traveler, a student, or someone wanting to build credit. A little research might help you select a card that is tailored to your individual needs.
We review 247 credit cards that anybody may apply for in the United States to decide which cards offer the best value. When comparing rewards cards, we use a sample budget based on spending data to calculate how much money each card can save you over five years.
The cards we suggest also come with a slew of extra perks that make using a credit card desirable, including annual bill credits, sign-up bonuses, discounts at certain retailers, insurance, and more. According to Esri’s spending data, the average American spending budget is roughly $22,126 per year, therefore these cards can be a wonderful method to save money.
We’ve compiled a list of the best credit cards for 2023 that can help you establish credit, save money on interest, and give you more than $2,000 in cash back over five years.
Best Credit Card
No one credit card is best for every family, every purchase, or every budget. As a result, Forbes Advisor has selected the best credit cards in a way that will be most useful to the greatest range of readers. Instead of choosing the “best credit card” and ranking the following options, we highlighted the best cards for different situations.
According to a December 2022 Forbes Advisor study, the most common reason people use credit cards is to build credit, with 47% selecting this as their primary reason.
However, the survey found that only 53% of participants were aware of their credit card interest rates. Uncertainty about the interest rate can hinder credit-building initiatives. Finding the best credit card for your needs should be one of your first actions.
Top Travel Rewards Credit Cards
#1. Chase Freedom Flex℠
This card has enough brawn to handle almost all of your credit card spending needs without charging an exorbitant fee. The card offers no annual fee and a boosted earnings structure that includes a wide range of expenses such as travel, drugstores, and eating, as well as rotating quarterly bonus categories in areas that many households are likely to find enticing.
Pros
- There is no annual charge.
- Rotating quarterly categories earn 5% rewards when active, up to a combined quarterly $1,500 maximum.
- The travel rewards rate is comparable to that of some of the best premium travel cards.
Cons
- Travel must be booked through Chase Ultimate Rewards® to get 5% cashback.
#2. Wells Fargo Active Cash® Card
Wells Fargo Active Cash has no annual fee and gives an unlimited 2% cash rewards rate on purchases. This puts it in direct competition with the best flat-rate cash-back credit cards currently available.
Pros
- Purchases get an unlimited 2% cash reward.
- There is no annual charge.
- Cell phone protection benefit
Cons
- A balance transfer fee applies.
- A foreign transaction fee applies.
- There are no travel transfer partners.
#3. Capital One Venture X Rewards Credit Card
Capital One’s most premium travel card is loaded with benefits that place it squarely in competition with other posh credit cards, but it comes with an annual fee that significantly outweighs the others.
Pros
- The annual fee is cheaper than that of competitors in its category.
- The annual price could be justified by the annual trip credit and anniversary miles alone.
- Miles are simple to earn and use.
Cons
- Shortage of domestic airline and upscale hotel travel partners.
- Capital One’s lounge network is still in its infancy.
- Inadequate hotel status benefits
#4. Chase Sapphire Preferred® Card
This card is a dream for frequent travelers and diners, offering a rare combination of high rewards rates and redemption flexibility – all while costing a low annual fee.
Pros
- Earn high rewards in a variety of spending categories.
- Transfer points to travel partners at a 1:1 ratio.
- There are numerous travel and shopping protections.
Cons
- The annual fee
- There is no introductory APR offer.
- Best travel earning rates are only for bookings through Chase
#5. Chase Sapphire Reserve®
If you spend a lot of money on travel and dining out, this card will give you more points. The $300 travel credit more than makes up for the annual cost and the ability to redeem points for travel on Chase Ultimate Rewards.
Pros
- The $300 annual travel credit is extremely adaptable.
- A hefty welcome bonus
- When you redeem points for travel with Chase, you will receive 50% more value.
- Transfer points to valued airline and hotel partners
Cons
- Expensive annual fee
- Purchases have a high variable APR.
- Excellent credit is highly suggested.
#6. The Platinum Card® from American Express
The Platinum Card is intended for frequent travelers who want to take full use of the Platinum Card’s extensive range of luxury travel privileges and Platinum Concierge service. The original status card’s exorbitant annual charge is fully justified in the proper hands.
Pros
- High possibility for rewards when booking flights and accommodations via American Express Travel.
- Having multiple credits can help to justify the expense.
- Access to all airport lounges
- Luxury travel benefits and elite status with Hilton and Marriott with enrollment
Cons
- The annual cost is extremely hefty.
- Maximizing statement credits requires some effort and may be impossible for many people.
- The reward rate outside of travel is sub-par for a premium card
Best Airline Credit Cards
#7. United Club℠ Infinite Card
w United’s top-tier card ups its game with 4 miles for dollars spent on United purchases. A slew of travel bonuses boosts the card’s value, with a United Club membership alone worth more than the annual cost.
Pros
- There are no foreign transaction fees.
- Membership in the United Club is more valuable than the annual price.
- When you pay for your ticket using your card, you get free first and second checked bags.
Cons
- The annual cost is extremely high.
- There is no introductory APR offer.
- Regularly high APR
#8. Aeroplan® Credit Card
The Aeroplan® Credit Card is an excellent choice for frequent Air Canada passengers who also spend money on food and travel because of its strong reward-earning potential.
Pros
- Excellent earnings potential
- There are no foreign transaction fees.
- Benefits for travelers, especially Air Canada flyers
Cons
- The annual cost of $95
- There are no non-travel benefits.
Top Hotel Credit Cards
#9. Capital One Venture Rewards Credit Card
The Capital One Venture Rewards Credit Card is difficult to beat for effortless earning and redemption, whether you want to redeem miles for hotel stays, flights, cab rides, or cruises.
Pros
- You are not limited to a specific hotel chain. Make your travel arrangements and then pay for them with incentives. You can also transfer points to more than 12 different travel rewards schemes.
Cons
- You will not receive any hotel-specific benefits, such as room upgrades or late checkout.
#10. Hilton Honors Aspire Card from American Express
The Hilton Honors Aspire Card from American Express, the company’s flagship card, comes at a premium to match its top-tier status and benefits. It’s ideal for big spenders who frequent Hilton properties sufficiently to take advantage of the extensive amenities package that comes with complimentary Diamond status.
Pros
- You will receive a complimentary Priority Pass Select membership with enrolling,
- Statement credits of up to $600 are available.
- Instant Hilton Diamond status with a slew of perks
Cons
- High annual cost with no first-year exemption
- High regular and penalty interest rates
- There is no introductory APR offer.
- Points are worth less in most incentive systems.
#11. Hilton Honors American Express Surpass® Card
For a low annual cost of $95, Hilton’s mid-tier Card provides exceptional value for people who travel frequently. Once enrolled, you’ll receive 10 yearly Priority Pass trips worth $299, as well as Hilton Honors Gold status.
Pros
- Gold elite status is complimentary.
- Each anniversary year, 10 complimentary Priority Pass Lounge visits are provided.
- There are no foreign transaction fees.
Cons
- The annual fee
- Spending $15,000 each year is required to earn a Free Night Reward.
- Aside from Hilton properties, points have a minimal redemption value.
#12. IHG® Rewards Premier Credit Card
If you stay at InterContinental Hotel Group’s brands, the annual cost for the IHG® Rewards Premier Credit Card is certainly worth it for the free anniversary night alone, and you’ll receive Platinum Elite status for as long as you have the card.
Pros
- A free night after each account anniversary, as well as a free reward night when redeeming points for a stay of four or more nights, are huge benefits, as is Platinum Elite status, which promises exclusive room rates, room upgrades, free Internet, and check-in/check-out privileges, among other perks.
Cons
- Like all co-branded hotel credit cards, their rewards, are not as versatile for getting free travel as a normal travel card.
#13. Marriott Bonvoy Boundless® Credit Card
The Marriott Bonvoy Boundless® Credit Card is an excellent card with features that easily outweigh the annual fee, including a free night every year. Not only does Marriott have a large number of locations, both economy and upmarket, but the card also does not restrict you to using points just for hotel stays.
Pros
- A traditional disadvantage of a hotel-branded card is a scarcity of places to earn and redeem points, yet Marriott has 7,000 properties spread across 30 hotel brands in 129 countries and territories.
Cons
- Because the rewards aren’t as flexible as those on regular travel cards, this card is only for Marriott enthusiasts.
Best Student Credit Cards
#14. Discover it® Student Cash Back
Here’s a wonderful opportunity for students with ordinary or limited credit to gain credit management expertise. This card gets an “A” from us since it has no annual fee, no penalty APR, and up to 5% cashback rewards in rotating categories.
Pros
- 5% cash back on rotating bonus categories after enrollment
- Cash-back match for the first year
Cons
- The 5% bonus cashback rate is restricted to $1,500 in spending per quarter.
- Bonus categories must be activated every quarter.
- Base reward rate of 1%
Best Balance Transfer Credit Cards
#15. Wells Fargo Reflect® Card
Those looking for a balance transfer card will be pleased to learn that the Wells Fargo Reflect Card features a generous introductory APR term on purchases and eligible balance transfers. However, the card lacks rewards and other noticeable features, so skip it if you don’t require a lengthy introductory APR period.
Pros
- For purchases and qualified balance transfers, there is a generous introductory APR term.
- There is no annual charge.
Cons
- There is no rewards program or welcome bonus.
- Fee for balance transfers: up to 5%; minimum: $5
- A foreign transaction fee of 3%
Best Credit Cards With Category Bonuses
#16. Amazon Prime Rewards Visa Signature Card
The 5% rewards rate is fantastic for existing Prime members who frequently shop at Amazon and Whole Foods. To sweeten the deal even more, the Amazon Prime Rewards Visa Signature Card comes with a 2% rewards category as well as Visa Signature benefits.
Pros
- Earn an Amazon Gift Card Bonus without having to buy anything.
- There are no foreign transaction fees.
- 5% cash back at Amazon and Whole Foods.
- Visa Signature Benefits
Cons
- 5% back excludes non-U.S. Amazon sites
- Depending on your creditworthiness, the APR can be quite high.
- Other cards can outperform Amazon family spending in terms of incentives.
#17. Blue Cash Preferred® Card from American Express
Big spenders at US supermarkets, as well as road warriors who frequently spend at US gas stations or modes of transportation such as cabs, rideshares, or public transit, can rack up big cash-back returns.
Pros
- High cash-back incentives in a variety of spending categories
- There is no need to enroll, and the payback is automatic.
- It includes various travel benefits and protections.
Cons
- There is an annual charge.
- The 6% cash back offer at US supermarkets is limited to $6,000 in annual spending (then 1%).
What credit card has hotel discounts?
Best Hotel Credit Cards of February 2023
- Capital One Venture Rewards Credit Card: Best for Easy Redemption
- Chase Sapphire Preferred® Card: Best for point transfers to hotel programs.
- IHG® Rewards Premier Credit Card: Best for Holiday Inn/IHG.
- Marriott Bonvoy Boundless® Credit Card: Best for Marriott.
Which credit cards give you 10X points for hotels?
You can earn limitless 10X miles on hotel and rental car bookings with the Capital One Venture X Rewards Credit Card, which is the best general travel credit card for hotels.
Is it better to book a hotel with a credit card?
It’s possible that you won’t need a credit card to stay at the hotel. Most hotels accept credit and debit cards, which is a standard requirement for two reasons: to validate the reservation: hotels want to know that you will show up for your reservation.
Which Chase card is best for booking hotels?
The Chase Sapphire Preferred® Card, which delivers 5 points for every $1 spent on travel booked through Chase Ultimate Rewards, including hotels, is one of the best Chase hotel credit cards.
Is Chase Sapphire good for hotels?
Yes. The Chase Ultimate Rewards® points you earn with this card can be used to pay for flights or hotels, or they can be transferred to other reward programs.
Why is AmEx better than Chase?
AmEx has nine cards that earn transferable Membership Rewards points, whereas Chase only has three credit cards that yield transferable Ultimate Rewards® points. AmEx provides extra options for earning Membership Rewards points right away.
How hard is it to get an American Express Platinum?
Yes, getting the American Express Platinum Card is difficult because applicants must have a 700+ credit score and a significant salary to be approved. However, if you have strong credit and make a lot of money, you have a good chance of getting authorized.
Conclusion
There are hundreds of different credit cards available on the market to suit every type of consumer. Your spending habits, goals, and credit history will ultimately determine which card is best for you.
To get the most out of your card, you should practice good credit behavior, such as paying off your balance on time and in full each month and avoiding overspending and debt.
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