The best credit cards of 2023 vary depending on your individual needs and spending habits. However, some of the most popular and highly-rated credit cards include:
- Chase Sapphire Preferred® Card: This card is a great all-around credit card for travelers, offering 2 points per dollar on travel and dining worldwide, and 1 point per dollar on all other purchases. It also comes with a $600 sign-up bonus after you spend $4,000 on purchases in the first 3 months from account opening.
- Capital One Venture Rewards Credit Card: This card is another great option for travelers, offering 2 miles per dollar on all purchases. It also comes with a $200 sign-up bonus after you spend $500 on purchases in the first 3 months from account opening.
- Citi® Double Cash Card: This card is a great option for everyday spending, offering 2% cash back on all purchases, with no annual fee.
- Blue Cash Preferred® Card from American Express: This card is a great option for grocery shoppers, offering 6% cash back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%), 3% cash back at U.S. gas stations and on transit, and 1% cash back on all other purchases.
- Discover it® Cash Back: This card offers 5% cash back on rotating categories each quarter, up to the quarterly maximum each time you activate, plus 1% cash back on all other purchases.
Also read: Best Rewards Credit Cards for Your Lifestyle: Compare and Choose.
Best Credit Cards
Chase Sapphire Preferred® Card
The Chase Sapphire Preferred® Card is a travel rewards credit card that offers 2 points per dollar on travel and dining worldwide, and 1 point per dollar on all other purchases. It also comes with a $600 sign-up bonus after you spend $4,000 on purchases in the first 3 months from account opening.
Also read: Chase Credit Cards: How to Choose the Right One.
Pros:
- Generous sign-up bonus
- High rewards rates on travel and dining
- $50 annual Ultimate Rewards hotel credit
- No foreign transaction fees
- Comprehensive travel insurance benefits
- Access to Chase Ultimate Rewards portal, which allows you to redeem points for travel, cash back, merchandise, and other rewards
Cons:
- Annual fee of $95
- Interest rate can be high if you carry a balance
Annual fee: $95
Interest rate: 21.49%-28.49% Variable APR
Rewards program:
The Chase Sapphire Preferred® Card offers the following rewards:
- 2 points per dollar on travel and dining worldwide
- 1 point per dollar on all other purchases
- $50 annual Ultimate Rewards hotel credit
- 10% anniversary points bonus
Features and benefits:
The Chase Sapphire Preferred® Card offers the following features and benefits:
- No foreign transaction fees
- Comprehensive travel insurance benefits, including trip cancellation/interruption insurance, travel delay reimbursement, baggage loss reimbursement, auto rental collision damage waiver, and more
- Access to Chase Ultimate Rewards portal, which allows you to redeem points for travel, cash back, merchandise, and other rewards
- Primary rental car insurance
- Extended warranty protection
- Purchase protection
Overall, the Chase Sapphire Preferred® Card is a great option for travelers who want to earn valuable rewards on their spending. The generous sign-up bonus, high rewards rates on travel and dining, and wide range of redemption options make this card a great value for the annual fee.
Capital One Venture Rewards Credit Card
The Capital One Venture Rewards Credit Card is a travel rewards credit card that offers 2 miles per dollar on all purchases. It also comes with a $200 sign-up bonus after you spend $500 on purchases in the first 3 months from account opening.
Pros:
- Simple rewards structure: 2 miles per dollar on all purchases
- No foreign transaction fees
- Miles can be redeemed for any travel purchase, including flights, hotels, rental cars, and more
- Miles never expire
- Access to Capital One Travel portal, which allows you to book travel with your miles and earn additional miles on your bookings
Cons:
- Annual fee of $95
- Interest rate can be high if you carry a balance
Annual fee: $95
Interest rate: 21.99%-29.99% Variable APR
Rewards program:
The Capital One Venture Rewards Credit Card offers the following rewards:
- 2 miles per dollar on all purchases
- Access to Capital One Travel portal, which allows you to book travel with your miles and earn additional miles on your bookings
Features and benefits:
The Capital One Venture Rewards Credit Card offers the following features and benefits:
- No foreign transaction fees
- Miles can be redeemed for any travel purchase, including flights, hotels, rental cars, and more
- Miles never expire
- Travel insurance benefits, including trip cancellation/interruption insurance, travel delay reimbursement, baggage loss reimbursement, auto rental collision damage waiver, and more
- Purchase protection
Overall, the Capital One Venture Rewards Credit Card is a great option for travelers who want to earn valuable rewards on their spending. The simple rewards structure, no foreign transaction fees, and flexibility in redemption options make this card a great value for the annual fee.
Please note that both the Chase Sapphire Preferred® Card and the Capital One Venture Rewards Credit Card have annual fees. If you are not sure whether you want to pay an annual fee for a credit card, you may want to consider a card with no annual fee, such as the Citi® Double Cash Card or the Discover it® Cash Back.
Citi® Double Cash Card
The Citi® Double Cash Card is a cash back rewards credit card that offers 2% cash back on all purchases: 1% when you buy and 1% as you pay. It has no annual fee and no foreign transaction fees.
Pros:
- Simple rewards structure: 2% cash back on all purchases
- No annual fee
- No foreign transaction fees
- Cash back can be redeemed for statement credits, direct deposit, or checks
- Cash back never expires
Cons:
- Interest rate can be high if you carry a balance
- No sign-up bonus
Annual fee: $0
Interest rate: 21.49%-28.49% Variable APR
Rewards program:
The Citi® Double Cash Card offers the following rewards:
- 2% cash back on all purchases: 1% when you buy and 1% as you pay
- Cash back can be redeemed for statement credits, direct deposit, or checks
- Cash back never expires
Features and benefits:
The Citi® Double Cash Card offers the following features and benefits:
- No annual fee
- No foreign transaction fees
- Purchase protection
- Extended warranty protection
Overall, the Citi® Double Cash Card is a great option for consumers who want to earn cash back rewards on all of their purchases, without having to worry about annual fees or foreign transaction fees. The simple rewards structure and easy redemption options make this card a great value for everyday spending.
Please note that all of the credit cards mentioned in this thread have interest rates. If you carry a balance on your credit card, you will be charged interest on that balance. It is important to pay your credit card bill in full each month to avoid paying interest.
Blue Cash Preferred® Card from American Express
The Blue Cash Preferred® Card is a cash-back credit card that offers high rewards on groceries, gas, and transit. It also offers a variety of other benefits, such as purchase protection, return protection, and extended warranty benefits.
Pros:
- High cash-back rewards: Earn 6% cash back on U.S. supermarkets on up to $6,000 per year in purchases, 6% back on select U.S. streaming subscriptions, and 3% back on eligible transit and U.S. gas stations.
- Variety of benefits: The Blue Cash Preferred® Card offers a variety of benefits, such as purchase protection, return protection, and extended warranty benefits.
- No foreign transaction fees: American Express cards do not charge foreign transaction fees, so you can use your Blue Cash Preferred® Card anywhere in the world without having to worry about extra fees.
Cons:
- Annual fee: The Blue Cash Preferred® Card has a $95 annual fee.
- Limited rewards categories: The Blue Cash Preferred® Card only offers high cash-back rewards on a few categories of spending: groceries, gas, and transit.
- Not accepted everywhere: American Express cards are not accepted everywhere, so there may be some places where you cannot use your Blue Cash Preferred® Card.
Annual fee: $95
Interest rate: 19.24% – 29.99% variable
Rewards program: Earn 6% cash back on U.S. supermarkets on up to $6,000 per year in purchases, 6% back on select U.S. streaming subscriptions, and 3% back on eligible transit and U.S. gas stations. Earn 1% cash back on all other purchases.
Features and benefits:
- Purchase protection
- Return protection
- Extended warranty benefits
- No foreign transaction fees
Is the Blue Cash Preferred® Card worth it?
Whether or not the Blue Cash Preferred® Card is worth it for you depends on your spending habits and financial goals. If you spend a lot of money on groceries, gas, and transit, then this card could be a good way to earn cash back on your purchases. However, the $95 annual fee may outweigh the rewards for some people.
If you’re not sure whether or not the Blue Cash Preferred® Card is right for you, you can compare it to other cash-back credit cards to see which one offers the best value for your spending habits.
Discover it® Cash Back
The Discover it® Cash Back credit card is a cash back rewards credit card that offers 5% cash back on rotating categories each quarter, up to the quarterly maximum each time you activate, plus 1% cash back on all other purchases. It also comes with a $0 annual fee and an unlimited cash back match at the end of your first year.
Pros:
- 5% cash back on rotating categories each quarter, up to the quarterly maximum each time you activate
- 1% cash back on all other purchases
- Unlimited cash back match at the end of your first year
- No annual fee
- No foreign transaction fees
- Discover Double Cash Back program: Double all of your cash back at the end of the year
Cons:
- Interest rate can be high if you carry a balance
- You must activate the quarterly bonus categories each quarter to earn 5% cash back
Annual fee: $0
Interest rate: 17.24%-28.24% Variable APR
Rewards program:
The Discover it® Cash Back credit card offers the following rewards:
- 5% cash back on rotating categories each quarter, up to the quarterly maximum each time you activate
- 1% cash back on all other purchases
- Unlimited cash back match at the end of your first year
- Discover Double Cash Back program: Double all of your cash back at the end of the year
Features and benefits:
The Discover it® Cash Back credit card offers the following features and benefits:
- No annual fee
- No foreign transaction fees
- Purchase protection
- Extended warranty protection
- Cashback Match™: Discover will automatically match all the cash back you’ve earned at the end of your first year, unlimited.
- Discover Double Cash Back program: Double all of your cash back at the end of the year
Overall, the Discover it® Cash Back credit card is a great option for consumers who want to earn cash back rewards on their purchases, without having to worry about annual fees or foreign transaction fees. The generous cash back rates, unlimited cash back match, and Discover Double Cash Back program make this card a great value for everyday spending.
How to Choose a Credit Card
When choosing a credit card, it is important to consider the following factors:
- Annual fee: Some credit cards have an annual fee, which can range from $0 to $500 or more.
- Interest rate: The interest rate is the amount of interest you will pay on your balance if you carry a balance over from month to month.
- Rewards program: Many credit cards offer rewards programs that allow you to earn points or miles that can be redeemed for travel, cash back, merchandise, and other rewards.
- Features and benefits: Some credit cards offer additional features and benefits, such as extended warranties, travel insurance, and purchase protection.
It is also important to compare credit cards from different issuers before you apply. You can use a credit card comparison website to compare different cards and find the best one for your needs.
