Though there are many different types of credit cards, they all fall into distinct categories based on their features and rewards programs. These are the best credit cards and credit card offers available right now in each category.
Travel credit cards
With the finest travel credit cards, you may use your points or miles to get free or reduced travel. There are also a number of top travel credit cards that provide additional travel benefits such as free airport lounge access, hotel upgrades, and travel insurance. This category includes the finest airline credit cards, hotel credit cards, and general travel credit cards.
Rewards credit cards
Every credit card that generates purchase rewards falls into this category. You’ll find a broad mix of the top credit cards for rewards that give cash back, travel miles, and retail rewards with so many to pick from.
Cash back credit cards
You earn rewards that can be redeemed for cash when you use the best cash back credit card. You may be able to redeem your cash back as a statement credit against your credit card balance, a deposit to a bank account, or a check, depending on the card. Among the finest cash back cards, you’ll find cards that earn the same flat rate on purchases as well as cards that earn more in bonus categories.
- Discover it® Cash Back: 5% back in rotating quarterly bonus categories you activate up to $1,500 quarterly spending cap, 1% back on other purchases.
- Blue Cash Preferred® Card from American Express: 6% cash back at U.S. supermarkets up to $6,000 annual spending cap and on select U.S. streaming subscriptions, 3% cash back at U.S. gas stations (making it one of the best credit cards for gas) and on transit, 1% back on other eligible purchases. Terms apply.
- Chase Freedom Unlimited®: 5% cash back on travel purchased through Chase Ultimate Rewards, 3% cash back on dining at restaurants and on drug store purchases, 1.5% cash back on other purchases.
- U.S. Bank Cash+® Visa Signature® Card: 5% cash back on your first $2,000 in combined eligible net purchases ($100 per quarter) on two categories you choose, 2% cash back on one everyday category, 1% cash back on other purchases.
- Wells Fargo Active Cash® Card: Unlimited, no-hassle 2% cash rewards.
- Capital One SavorOne Cash Rewards Credit Card: 3% cash back on dining, entertainment, popular streaming services, and at grocery stores, 1% cash back on other purchases.
READ ALSO: 14 Best Credit Cards in the U.S. for 2023
Balance transfer credit cards
For balance transfers, this sort of credit card gives a lower, initial APR. Many of the finest debt transfer credit cards offer 0% intro APR on balance transfers for a period of up to a year. A balance transfer card is perfect for refinancing credit card debt and saving money on interest.
- U.S. Bank Visa® Platinum Card: 18-billing-cycle 0% intro APR on balance transfers and purchases.
- Discover it® Balance Transfer: 18-month 0% intro APR on balance transfers. The go-to variable rate applies after the 0% intro APR expires.
- Citi® Diamond Preferred® Card: 0% intro APR for both purchases and balance transfers.
- Wells Fargo Reflect® Card: A leading 0% intro APR for both purchases and balance transfers.
Best credit cards for beginners
The best credit cards for beginners allow applicants with no credit history, don’t impose excessive fees, and provide educational features like free credit score monitoring to help you improve your credit. Student credit cards are an excellent initial step into the world of credit for people who are enrolled in college or university.
High limit credit cards
Some credit cards have larger credit limits than others. These high limit credit cards allow you to spend more while simultaneously protecting your credit by making it easier to keep your credit utilization ratio low. To qualify, you usually need to have great credit.
0% intro APR credit cards
Cards in this category provide a 0% beginning APR on purchases. They’re a good option if you need to buy something pricey but can’t afford to pay in full right away. The most popular 0% intro APR credit cards frequently offer those introductory rates for a year or more.
Secured credit cards
A security deposit is required to open a secured credit card, which is primarily used for credit rebuilding or building. The security deposit is frequently (but not always) equivalent to the initial credit limit. High-quality secured credit cards, even with the finest credit cards for bad credit, generally progress to unsecured cards. This implies that if you make enough on-time payments, you will receive your deposit back.
Student credit cards
If you’re in college, the finest student credit card can help you start building credit. Despite the fact that these cards are intended for students, the top student credit cards offer some outstanding benefits. Some cards offer free credit score tracking as well as cash back for high grades.
Business credit cards
Business credit cards are intended for business owners. To support business expenditures, this sort of credit card has higher credit limits than consumer credit cards. Many of them also have additional categories to accommodate common company spending habits. A business card, for example, may offer additional points on advertising, shipping, or office supply store expenditures.
A business card can also assist you enhance your company’s credit score. Businesses have credit ratings that measure their creditworthiness in the same way that your personal credit score does. You can improve your business credit score by utilizing a company credit card and paying on time. This may help you qualify for future business finance.
To qualify for a business credit card, your company does not need to be a separate legal entity. A sole proprietorship can apply for a business credit card. It’s a good idea to compare credit card offers no matter what type of business you have.
Store credit cards
Numerous chain stores, including Macy’s, Target, and Lowe’s, have their own credit cards. These credit cards are sometimes accepted anywhere, but they are often exclusively valid in-store. Shop credit cards typically include exclusive discounts and benefits that can only be redeemed at that store. When applying for a credit card, read the tiny print carefully, especially if the offer includes deferred interest, which can be problematic and result in huge surprise interest charges.
