Best Credit Cards

The best credit card overall is the Citi® Double Cash Card – 18 month BT offer because it has a $0 annual fee, a 0% for 18 months introductory APR (13.99% - 23.99% (V) regular APR), and an excellent rewards rate: 2% cash back on every purchase. The Citi Double Cash Card earns a WalletHub editor's rating of 5.0 / 5 as a result of its low costs and simple, yet generous rewards.

There are plenty of other contenders for the title of best credit card overall, however. Credit cards are not one-size-fits-all, either. Which card is best really depends on your credit standing, current debt situation and whether or not you're going to pay your monthly bills in full.

Fortunately, there are some rules of thumb you can follow to find the best overall credit card for your needs.

• The lower your credit score is, the more important it is to get a credit card with no annual fee.
• If you have existing credit card debt or are planning a big-ticket purchase that will take months to pay off, try to find a card with a 0% intro APR and no balance-transfer fee, if applicable. Avoiding annual fees is important in this situation, too.
• If you have good or excellent credit and plan to pay in full every month, your goal should be to find the best possible rewards for your spending habits.

No matter your specific situation, there are a few easy ways to find the right credit card. For starters, you can check out our editors' picks for the market's best overall credit cards right now, selected from more than 500 credit card offers. You can also sign up for a free WalletHub account and get a personalized recommendation based on your overall credit score. Or, you can try our free CardAdvisor tool to get anonymous recommendations based on your answers to a few simple questions.

Finding the right credit card can be stressful, with so many offers to consider and so much jargon and fine print to decipher. But as long as you follow these simple pointers, you'll be fine.

1. Compare credit cards before applying. Otherwise, there's no way of telling whether you're getting the best deal. Marketing can be deceiving, after all. 
2. Make sure your credit is match. You should only consider applying for a credit card if it matches your credit standing. For example, don't apply for an excellent-credit credit card if you have fair credit. Getting turned down will only make it harder to get approved the second time around.
3. Don't apply in bulk. You should not submit more than a couple credit card applications within a short period of time, as this can lead to a roughly six-month dip in your credit score.

For more tips, check out WalletHub's guide on finding the right type of credit card for your needs. And for your convenience, here are some benchmarks to consider as you wade your way through the credit card comparison process:

Market Snapshot: 1,000+ Credit Card Offers

You can learn more about the average terms offered by credit cards in popular categories from WalletHub's latest Credit Card Landscape Report. 

The best time to apply for a credit card is after you've carefully considered your options and selected a card that suits your needs. In addition, you should avoid doing it right before you're going to ask for a large loan, or right after you've applied for another source of credit. That's because each of these puts a hard inquiry on your credit report, which hurts your score, especially when there are several in a short period of time. If you have bad credit, it's essential for you to have at least one account in good standing in order to rebuild. And if you have good or better credit, you have a lot of options for cards with great rewards and rates. 

Statistically, the best time of year to apply for a credit card is the second half, from July onward, but especially October through December. From 2008 through 2017, an average of 15% more new credit card accounts were issued in Q4 than Q1, according to Equifax. The busy holiday shopping season and the attractive bonus offers that credit card companies have been known to roll out around then probably have a lot to do with that. 

Those aren't the only dynamics you should be aware of if you want to boost your odds of approval, either.

Here are the best times to apply for a credit card:

• When you're ready. Don't rush into a decision. Take time to examine your options and pick a card that best suits your needs, whether that's rewards, financing, balance transfers or something else. If you sign up for a free WalletHub account you can get personalized credit card recommendations that you're likely to qualify for. 
• When there aren't recent or upcoming inquiries. Having a hard inquiry on your credit report (which happens when you apply for credit) temporarily damages your score a bit. But multiple inquiries within a few weeks or months of each other are worse than just one. So if you applied for credit recently or are about to apply for a mortgage or car loan, you may want to hold off on that credit card application.
• After pre-approval. Many credit card issuers let you check for pre-approval, allowing you to see if you're a good candidate without a hard inquiry, which could temporarily hurt your credit score. If you're pre-approved, you're not guaranteed actual approval, but your chances are high – around 90%.
• When your credit is bad. If you have bad credit, you'll need at least one credit card in good standing to start balancing things out. You should try for a secured card, which has the highest approval odds, to help rebuild. 
• When your credit is good. When you have good or excellent credit, you'll have a ton of great options with high approval odds. 
• When you don't have one. A credit card can make shopping a lot easier, and can even reward you for spending. And it's essential for improving your credit and building up a solid history so that you can make big future financial transactions, like auto loans and mortgages.
• When there's a great rewards offer. Credit cards often give big initial bonuses or 0% financing for a limited time to draw in new customers. Strategically taking advantage of such offers can get you hundreds of dollars in cash back or travel. 
• When you're making a big-ticket purchase. Applying for a 0% APR credit card before making a big purchase that will take months to pay off can be a wise move. It will enable you to avoid interest entirely if you pay in full by the time your card's regular APR takes effect. 

All in all, any time can be a good time to apply for a credit card. Just make sure to do your research and maximize your credit score beforehand. As long as you don't need the best credit possible for a major loan application soon after applying for a credit card, the temporary credit score damage that comes with it won't cost you. 

The best cash back credit cards are cards that give at least 1.5% cash back on purchases, along with $0 annual fees, initial bonus offers, or 0% APR promotions. Some of the best cash back credit cards offer the same cashback rate on all purchases, while others provide bonus cashback in certain purchase categories.

Best Cash Back Credit Cards

This content is not provided or commissioned by any issuer. Opinions expressed here are the author’s alone, not those of an issuer, and have not been reviewed, approved or otherwise endorsed by an issuer. Please keep in mind that while some offers may come from WalletHub advertising partners, sponsorship status played no role in card selection.

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A first credit card is a credit card for first-time credit users: people with limited or no credit history who’ve never had their own credit card or loan. The best credit cards for first-timers have annual fees as low as $0, high approval odds for inexperienced applicants, and monthly reporting to the 3 major credit bureaus. In other words, good first-time credit cards are accessible, inexpensive, and capable of helping you save money while building credit (some offers are from WalletHub’s partners).

Still, getting your first credit card can be daunting, as there are lots of first-time credit card offers to consider. With that in mind, WalletHub’s editors compared 1,500+ offers in search of the best first credit card for different types of people with no credit history. As you’ll see, some of the best first-time credit cards are “secured credit cards.” That means a refundable security deposit is required to open an account. But because of that deposit, approval for a secured card is nearly guaranteed.

Whether your first credit card is secured or unsecured, you’ll need to use it responsibly if you want to build a good credit score. So pay your bill on time and in full each month. If you do that, you’ll be able to upgrade your first credit card in no time.

Best First Credit Cards

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The best luxury credit card is Chase Sapphire Reserve® because it has an initial bonus worth up to $900 in travel, gives a $300 annual travel credit, and provides a complimentary airport lounge membership. But luxury comes at a cost, and Chase Sapphire Reserve charges a $550 annual fee. 

The most popular luxury card on the market is The Platinum Card® from American Express. It offers free membership to 7 major airport lounge networks, a $200 annual credit for fees on a pre-selected airline, and a $100 annual statement credit for Saks Fifth Avenue purchases, when enrolled. Plus, there's a 100,000 points initial bonus for spending $6,000 in the first 6 months and 5 points per $1 spent on flights (up to $500,000 spent per year) booked directly with airlines or with American Express Travel, and prepaid hotels booked through Amex. The annual fee is $695.

But the most famous of all luxury cards is the Centurion® Card from American Express. Also known as the “Black Card,” it's invite only, so not just anyone can apply. Not a ton is known about it other than that. Fortunately, there are plenty of other luxury credit cards to consider, too.

Best Luxury Credit Cards

1. Centurion® Card from American Express (“Black Card”)
2. Chase Sapphire Reserve®
3. The Platinum Card® from American Express
4. U.S. Bank Altitude Reserve Visa Infinite® Card
5. Ink Business Preferred® Credit Card
6. J.P. Morgan Reserve Credit Card

When you're comparing luxury credit cards, the devil is in the details. There are plenty of cards with luxury prices but pedestrian perks. So, you need to make sure the rewards and benefits that you get far outweigh the cost.

People who want to get a luxury credit card without shelling out a lot of money should consider the Capital One Venture Rewards Credit Card card. It offers top-notch travel rewards and only costs $95 per year. 

Credit cards for fair credit are best for people with credit scores from 640 to 699 who are either building credit from scratch or rebuilding their credit after mistakes. You need at least 3 years of experience using a credit card responsibly to get most fair-credit credit cards. To help you find the best deal, WalletHub’s editors compared all of the credit cards for people with average credit in our database of 1,500+ credit card offers (some cards are from WalletHub partners), then selected the best credit cards for fair credit in a handful of popular categories.

You can learn all about the best credit cards for people with fair/average credit below. And as you compare the available offers, there are a few things you should remember.

For starters, one reason to get a credit card for fair credit is for convenience, as it will allow you to carry less cash and make purchases that require plastic, such as car rentals and online shopping.

Furthermore, many credit card offers for fair credit have rewards, low introductory APRs and/or no annual fees. Your goal should be to find the combination that saves you the most money. On that note, it’s worth mentioning that most popular store credit cards will consider people with fair credit and often provide sizable rebates on purchases.

Most importantly, all major credit cards for people with fair credit report account information to the credit bureaus monthly. That means you’ll have the chance to graduate from average credit to good credit if you don’t miss any due dates. If you’re not sure where your credit stands, you can check your latest credit score for free on WalletHub.

Best Credit Cards for Average/Fair Credit

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No annual fee credit cards are cards with $0 yearly membership fees and no monthly maintenance fees. Roughly 9 in 10 credit cards have no annual fee, including cards with rewards, 0% APR, no foreign transaction fee, etc. No annual fee credit card offers are also available to people of all credit levels – from bad credit to excellent credit (some cards are from WalletHub partners). Below, you can compare WalletHub’s favorite $0 annual fee credit card offers, which were selected from 1,500+ cards because they stand out in popular categories, from the most rewarding to the easiest to get.

The fact that so many credit cards with no annual fee are available helps to explain why the average annual fee among all credit cards is just $18, despite many cards charging $100+ per year. Even more importantly, the best $0 annual fee credit cards are capable of saving the average credit card user hundreds of dollars per year.

In addition to $0 annual fees, the best no annual fee credit cards for 2021 have stand-out rewards, low APR promotions and more. In other words, there are many reasons to get a credit card with no annual fee. Paying an annual fee just might not be worth it if you don’t plan to use your card often or can’t qualify for good enough rewards. Similarly, if you’re trying to avoid interest on a balance, you probably don’t want to waste money on fees.

But things aren’t always so clear-cut. Some of the best rewards credit cards have annual fees, and their earnings easily cover the cost. So if you plan to pay your bill in full every month and can qualify for an elite rewards card, your choice should come down to what you get in return for the amount you spend, including fees.

Best No Annual Fee Credit Cards

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The best everyday credit card is the Blue Cash Preferred® Card from American Express because it offers 20% cash back on Amazon.com purchases for the first 6 months (up to $200 back), 6% cash back at U.S. supermarkets (up to $6,000 spent per year), 6% back on select U.S. streaming subscriptions, 3% back at U.S. gas stations and on transit, and 1% back on all other purchases, earned as statement credits. Blue Cash Preferred also rewards new cardholders with a $150 statement credit for spending $3,000 in the first 6 months. So, this card gives very valuable bonus rewards in the most common everyday spending categories and is well worth its $95 annual fee, that is waived the first year.

If you're looking for a credit card with no annual fee for everyday use, there are plenty of good options in that category too, including one that stands in particular. The best everyday credit with a $0 annual fee is the Citi Double Cash Card. It gives 2% cash back on all purchases, including 1% cash back when making the purchase and 1% back when paying the bill.

2021's Best Credit Cards for Everyday Spending

Ultimately, there are lots of different types of everyday credit cards. You just need to find one with rewards that suit your everyday spending habits and a credit score requirement you can meet.

The best travel credit cards help cardholders earn free flights, hotel stays and other travel accommodations with every purchase made. Known for big initial bonuses and rich ongoing rewards, the best travel rewards credit cards can easily save the average person more than $1,000 over the first two years of use.
 

Best Travel Credit Cards of 2021

This content is not provided or commissioned by any issuer. Opinions expressed here are the author’s alone, not those of an issuer, and have not been reviewed, approved or otherwise endorsed by an issuer. Please keep in mind that while some offers may come from WalletHub advertising partners, sponsorship status played no role in card selection. 

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