Best Credit Cards RIGHT NOW – August 2022

Below we list some of the best credit cards on the market right now, with an emphasis on cash back and travel rewards cards:

Best Cash Back Credit Cards

Blue Cash Everyday® Card from American ExpressWhy We Like It: Maybe the best rewards credit card for grocery purchases with no annual fee, plus a rare 3% reward for general online purchases. EARN: 3% cash back on groceries at U.S. supermarkets on up to $6,000 per year in purchases (then 1%), 3% cash back on U.S. online retail purchases on up to $6,000 per year in purchases (then 1%), 3% cash back on gas at U.S. gas stations on up to $6,000 per year in purchases (then 1%), 1% cash back on other purchases. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit. NEW CARDHOLDER WELCOME BONUS OPPORTUNITY: Earn a $200 statement credit after you spend $2,000 in purchases within the first 6 months. See Rates & Fees. Terms Apply. American Express is a ProudMoney advertiser.

 

Capital One SavorOne Cash Rewards Credit CardWhy We Like It: Offers generous cash back in everyday categories where you are likely to be doing real spending, with no annual fee! Earn 3% cash back on dining, entertainment, popular streaming services and at grocery stores (excluding superstores like Walmart® and Target®), plus 1% on all other purchases. EARLY SPEND BONUS: Earn a one-time $200 cash bonus once you spend $500 on purchases within the first 3 months from account opening.

 

Citi Custom Cash℠ CardWhy We Like It: No-brainer opportunity to earn 5% cash back in the everyday category you shop most each month, with no annual fee! EARN: 5% cash back on purchases in your top eligible spend category each billing cycle, up to the first $500 spent, 1% cash back thereafter and on all other purchases. The 5% eligible categories are: Restaurants, gas stations, grocery stores, select travel, select transit, select streaming services, drugstores, home improvement stores, fitness clubs, live entertainment. NEW CARDHOLDER WELCOME BONUS OPPORTUNITY: Earn $200 cash back after you spend $750 on purchases in the first 3 months of account opening.

 

Blue Cash Preferred® Card from American Express – Why We Like It: 6% cash back on up to $6,000 per year in purchases at U.S. supermarkets, 6% cash back on select U.S. streaming subscriptions, 3% cash back on transit purchases, 3% cash back at U.S. gas stations, 1% cash back on other purchases. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit. NEW CARDHOLDER WELCOME BONUS OPPORTUNITY: Earn a $350 statement credit after you spend $3,000 in purchases within the first 6 months. Annual fee: $95. See Rates & Fees. Terms Apply. American Express is a ProudMoney advertiser.

 

Chase Freedom Flex℠ – Why We Like It: Good everyday earnings, plus the opportunity to earn 5% cash back in certain purchases throughout the year, all with no annual fee! Earn: 5% on up to $1,500 in combined purchases in bonus categories each quarter you activate, 5% on travel purchased through Chase Ultimate Rewards, 3% on dining at restaurants, including takeout and eligible delivery services, 3% on drugstore purchases, 1% on all other purchases. NEW CARDHOLDER BONUS OPPORTUNITY: Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening.

 

Citi® Double Cash Card – 18 month BT offer – Simple, generous 2% cash back formula on all of your purchases, with no annual fee! EARN: 2% cash back on purchases: 1% when you buy and 1% as you pay — no categories to worry about, and no cap on the 2% cash back you can earn. NEW CARDHOLDER BONUS OPPORTUNITY: Earn $200 cash back after you spend $1,500 on purchases in the first 6 months of account opening.


Chase Freedom Unlimited®Why We Like It: Good cash-back on everyday categories, and a nice “catch all” reward rate on other purchases, with no annual fee. Earn 5% on travel purchased through Chase Ultimate Rewards, 3% on dining at restaurants (including takeout and eligible delivery services), 3% on drugstore purchases, and 1.5% on all other purchases. INTRO OFFER FOR NEW CARDHOLDERS: Earn an additional 1.5% cash back on everything you buy (on up to $20,000 spent in the first year). Could be worth up to $300 cash back 👀

 

U.S. Bank Altitude® Go Visa Signature® Card – Why We Like It: Perhaps the best dining rewards credit card on the market, plus strong rewards at grocery stores, gas stations/EV stations, and other everyday purchasing categories. Earn: 4 points per dollar on dining, takeout and restaurant delivery purchases, 2X points at grocery stores, grocery delivery, streaming services, gas stations and EV charging stations, 1X point on all other eligible purchases. NEW CARDHOLDER BONUS OPPORTUNITY: Earn 20,000 bonus points after you spend at least $1,000 in the first 90 days after opening your account — a $200 value redeemable for cash back as well as travel rewards, gift cards and more.

More Cash Back Credit Cards

 

Best Travel Credit Cards

Travel credit cards are difficult to rank because travelers have different needs in terms of budget, frequency of travel, perks desired, etc. Think about your needs/wants as you consider these cards:

Chase Sapphire Preferred® – This $95 annual fee card recently beefed up its rewards (including 3 points per dollar on dining purchases and 5x/10x on most travel when booked through Chase’s travel portal), making it attractive as an everyday credit card. It’s maybe even more attractive, though, as the foundation to a larger strategy of obtaining multiple Chase cards and combining points to redeem at a 25% premium through Chase’s travel booking site or to get access to Chase travel transfer partners including United, Southwest, Hyatt, Marriott and more.

NEW CARDHOLDER BONUS OPPORTUNITY: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. (Worth $750 in travel when redeemed through Chase Ultimate Rewards®.)

Capital One Venture X Rewards Credit Card – Why We Like It: Offers the desirable features of more expensive travel cards, but strips away the fluff to keep the annual fee reasonable. That annual fee is $395, but you can get up to $300 in travel credits when you book through Capital One Travel, and there is an Early Spend Bonus of 75,000 miles once you spend $4,000 on purchases within the first 3 months from account opening. The Anniversary Miles Bonus kicks in starting on your first anniversary, with 10,000 bonus miles (equal to $100 towards travel).

In terms of rewards on everyday purchases, earn unlimited 10 miles per dollar in purchases on hotels and rental cars booked through Capital One Travel and 5X miles on flights booked through Capital One Travel, plus unlimited 2X miles on all other purchases. And don’t forget airport lounge access through the Priority Pass network & the new Capital One Lounges, plus quite a bit more.

Chase Sapphire Reserve® – Why We Like It: Despite a $550 annual fee, a frequent traveler can often find the value to justify that fee, including yearly travel reimbursements of up to $300, airport lounge access, good travel insurances, a 50% boost in reward point value when booking travel through Chase Ultimate Rewards, and a great list of travel transfer partners, allowing you to transfer points into the loyalty programs of Southwest, United, Hyatt, JetBlue, Marriott, and a number of international airlines. NEW CARDHOLDER BONUS OPPORTUNITY: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening, which is worth $900 toward travel if you redeem through the Chase Ultimate Rewards® travel portal.

In terms of everyday rewards, each year after you’ve exhausted the yearly $300 annual travel credit, you’ll earn 5 points per dollar on flights purchased through Chase Ultimate Rewards, 10x points on hotels and car rentals through Chase Ultimate Rewards, and 3x points on other travel. Also, you’ll earn 3x points on dining right from the start, including restaurants, eligible delivery services, and takeout (and earn 10x if dining reserved through Chase Dining), and 1 point per dollar on all other purchases.

The Platinum Card® from American Express – Rewards and perks galore including 5X points on flights booked directly with airlines or with American Express Travel (on up to $500,000 on these purchases per calendar year), 5X points on prepaid hotels booked on AmexTravel.com, probably the best, most extensive airport lounge network of all the luxury travel cards, strong travel insurances/protections, and many potential credits on certain airline and hotel purchases as well as certain purchases from Uber, Clear, Saks Fifth Avenue, Equinox and more. $695 annual fee. See Rates & Fees. Terms Apply. American Express is a ProudMoney advertiser.

American Express® Gold Card – This is sort of a hybrid card in that its everyday rewards are not highly travel-focused, but it gives points in the Membership Rewards® program, which most people end up redeeming for travel rewards. Lots of point-earning opportunities and perks/credits. You’ll have to do the math to see if it fits your spending patterns. $250 annual fee. New Cardholder Bonus Opportunity: Earn 60,000 Membership Rewards® Points after you spend $4,000 within the first 6 months. See Rates & Fees. Terms Apply. American Express is a ProudMoney advertiser.

More Travel Credit Cards

 

Best Business Credit Cards

American Express Blue Business Cash™ CardWhy We Like It: Generous, simple CASH BACK rewards formula with no annual fee. Choose this if you want great rewards without having to think too hard about those rewards while you’ve got your mind on your business.

Your business earns: 2% Cash Back on eligible business purchases up to $50,000 per calendar year, automatically credited to your statement. (Eligible purchases are purchases for goods and services minus returns and other credits.) Your business then earns 1% cash back on other eligible purchases after the first $50K spent on your Card, automatically credited to your statement.

New Cardholder Welcome Bonus Opportunity: Earn a $250 statement credit after you make $3,000 in purchases on your Card in your first 3 months. See Rates & Fees. Terms Apply. American Express is a ProudMoney advertiser.

The Blue Business® Plus Credit Card from American ExpressWhy We Like It: Generous, simple-to-understand rewards with no annual fee. Great option if you’re already earning Membership Rewards® points with other American Express credit cards.

Your business earns: 2X Points on eligible business purchases, on up to $50,000 in spending per calendar year. (Eligible purchases are purchases for goods and services minus returns and other credits.) Your business then earns 1X Points on other eligible purchases after the first $50K spent with the card. Points can be redeemed within the popular Membership Rewards program toward a variety of travel rewards as well as other options.

New Cardholder Welcome Bonus Opportunity: Earn 15,000 Membership Rewards points after you spend $3,000 in eligible purchases on the Card within your first 3 months of Card Membership. See Rates & Fees. Terms Apply. American Express is a ProudMoney advertiser.

Ink Business Cash® Credit CardWhy We Like It: High reward opportunities (as high as 5%) on common small business categories, big new cardholder bonus opportunity, and no annual fee.

EARN: 5% cash back on the first $25,000 spent in combined purchases at office supply stores and on internet, cable and phone services each account anniversary year. Earn 2% cash back on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year. Earn 1% cash back on all other purchases.

NEW CARDHOLDER BONUS OPPORTUNITY: Earn $750 bonus cash back after you spend $7,500 on purchases in the first 3 months after account opening.

The Business Platinum Card® from American ExpressWhy We Like It: Great for the frequent business traveler, with exceptional Membership Rewards points earning, a potential 35% “Airline Bonus” when you redeem points, a yearly $200 Airline Fee Credit, and access to the best airport lounge network, the Global Lounge Collection. (Plus lots more!) Its $695 annual fee means it’s best for serious businesses with significant card spend in order to maximize its many rewards and benefits.

Your business earns: 5X Points on: Flights & Prepaid Hotels booked on AmexTravel.com, 1.5X Points on: (that’s an extra half point per dollar) on eligible purchases at US construction material & hardware suppliers, electronic goods retailers and software & cloud system providers, and shipping providers, as well as on purchases of $5,000 or more everywhere else, on up to $2 million of these purchases per calendar year. Any other eligible purchases earn 1X points. Points can be redeemed within the popular Membership Rewards program toward a variety of travel rewards as well as other options.

New Cardholder Welcome Bonus Opportunity: Earn 120,000 Membership Rewards® points after you spend $15,000 on eligible purchases with your Card within the first 3 months of Card Membership. See Rates & Fees. Terms Apply. American Express is a ProudMoney advertiser.

More Business Credit Cards

 

Credit Cards By Credit Score/Credit History


Author: Adam Jusko


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