The best 12 credit cards for July 2024
The best credit cards offer valuable rewards, robust sign-up bonuses, and flexible redemption options that appeal to many different types of spenders.
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Johnson has been a personal finance contributor for more than 10 years. She focuses on investing, banking products, credit cards and scoring and insurance.
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Hanna Horvath is a CERTIFIED FINANCIAL PLANNER™ and Bankrate's senior editor of content partnerships.
Updated July 1, 2024, 9:53 AM EDT
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There are hundreds of cards on the market, each offering its own perks and rewards. Finding the right card that matches your spending habits and lifestyle can feel overwhelming.
The best card for you depends on your goals — whether that's earning cash back, booking free travel, or consolidating debt. Not all cards are equal, so it’s essential to research to find the best card for you.
We researched today's most popular credit cards, evaluating factors like rewards, welcome bonuses, redemption value, and annual fees. Here are the 12 best cards for you, depending on your goals and spending habits.
Our picks for the best credit cards
- Best starter travel credit card: Chase Sapphire Preferred® Card
- Best for luxury travel: Chase Sapphire Reserve®
- Best for foodies: American Express® Gold Card
- Best for groceries and gas: Blue Cash Preferred® Card from American Express
- Best for no annual fee: Chase Freedom Unlimited®
- Best for cash back: Capital One SavorOne Cash Rewards Credit Card
- Best for flat-rate cash back: Wells Fargo Active Cash® Card
- Best for online shopping: Prime Visa
- Best for balance transfers: Citi Double Cash® Card
- Best for building credit: Capital One Platinum Credit Card
- Best for college students: Discover it® Student Cash Back
- Best business credit card: Ink Business Preferred® Credit Card
Chase Sapphire Preferred® Card: Best starter travel credit card
Who it's best for
Travelers looking to earn flexible rewards without the luxury travel benefits of premium cards.
Rewards:
- 5X points on travel through Chase Travel
- 5X total points on Lyft rides (Through March 2025)
- 3X points on dining (including eligible delivery services), select streaming services, and online grocery purchases (excluding wholesale clubs)
- 2X points on other travel
- 1X points on other purchases
Annual fee: $95
Welcome bonus: 60,000 points after spending $4,000 on purchases within the first three months
The Chase Sapphire Preferred® earns points that can be used for travel through Chase, gift cards, statement credits, or even 1:1 point transfers to airline and hotel partners. Cardholders also get travel insurance, rental car coverage, and no foreign transaction fees.
Chase Ultimate Rewards points are easy to earn and redeem, making this the ideal starter travel card.
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Chase Sapphire Reserve®: Best for luxury travel
Who it's best for:
Jetsetters looking to maximize travel rewards and access elite perks.
Rewards:
- 10X points on hotel stays, car rentals, and Chase Dining purchases through Chase Travel℠
- 10X points on Lyft purchases (through March 2025)
- 5X points on air travel through Chase Travel℠ (after $300 travel credit)
- 3X points on restaurant and general travel purchases (after $300 travel credit)
- 1X points on all other purchases
Annual fee: $550
Welcome bonus: 60,000 points after spending $4,000 on purchases within the first three months
The Chase Sapphire Reserve® card is one of the best travel cards thanks to its high rewards earning potential and elite travel benefits. Like the Preferred card, you can earn flexible points that can be used to book travel via Chase Ultimate Rewards or transfer to travel partners.
Luxury travel benefits include $300 in annual travel credits, complimentary DashPass membership, airport lounge access, and a 50% bonus when redeeming points for travel through the Chase Travel Portal.
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American Express® Gold Card: Best for foodies
Who it’s best for:
Big spenders on groceries, takeout, and dining out — who want to earn flexible travel rewards.
Rewards:
- 4X points at restaurants (including takeout and delivery in the U.S.) and on UberEats
- 4X points at U.S. supermarkets (up to $25,000 per year, then 1X points)
- 3X points on flights booked directly with airlines or via American Express Travel
- 1X points on all other purchases
Welcome bonus: 60,000 points after spending $6,000 in purchases within the first six months
Annual fee: $250. See rates and fees
Offering boosted rewards at U.S. supermarkets, restaurants, and on UberEats, the American Express® Gold Card is a good choice for foodies and families. You can score up to $120 in dining credits given in statement credits annually on GrubHub, Seamless, The Cheesecake Factory, and more.
You’ll also get annual Uber Cash credits, travel credits, and no foreign transaction fees. You can use points to book travel through American Express or transfer to a hotel or airline partner.
To earn up to $120 in Uber Cash credits, you must have downloaded the latest version of the Uber App and your eligible American Express Gold Card must be a method of payment in your Uber account. The Amex benefit may only be used in United States.
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Blue Cash Preferred® Card from American Express: Best for groceries and gas
Who it's best for:
Families who want to use cash back rewards to offset their spending on groceries, gas, and streaming services.
Rewards:
- 6% cash back on U.S. supermarket purchases (up to $6,000 per year, then 1%)
- 6% back on select U.S. streaming subscriptions
- 3% back at U.S. gas stations
- 3% back on transit purchases
- 1% back on all other purchases
Welcome bonus: $250 statement credit after spending $3,000 in purchases within the first six months
Annual fee: $0 introductory fee in the first year, then $95 annual fee after. See rates and fees.
If you’re spending primarily on everyday expenses like groceries and gas, the Blue Cash Preferred® Card from American Express offers a great way to offset these costs through boosted cash back. Cash back is received in the form of Reward Dollars that can be redeemed as a statement credit or on Amazon.com at checkout.
This card also comes with an annual Disney Bundle streaming service credit and statement credits for Equinox.
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Chase Freedom Unlimited®: Best for no annual fee
Who it's best for:
Shoppers looking to earn straightforward and flexible cash back on their everyday spending.
Rewards:
- 5% cash back on Lyft purchases (through March 2025)
- 5% back on travel purchased through Chase Travel
- 3% back on dining
- 3% back on drugstore purchases
- 1.5% back on all other purchases
Annual fee: $0
Welcome bonus: Earn an extra 1.5% on everything you buy up to $20,000 spent in the first year. This can be worth up to $300 cash back.
With no annual fee and 1.5% cash back (at least) on every purchase, the Chase Freedom Unlimited® is a low-cost way to earn rewards on your spending.
Cardholders can redeem rewards as a statement credit or direct deposit, redeem for travel, or shop online at Amazon.com. For more value, you can also pool your points with other premium Ultimate Rewards cards, like the Chase Sapphire Preferred® Card, Chase Sapphire Reserve®, or Ink Business Preferred® Credit Card.
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Capital One SavorOne Cash Rewards Credit Card: Best for cash back
Who it's best for:
Foodies and entertainment enthusiasts who want to earn cash back on dining out, entertainment, and groceries — without the annual fee.
Rewards:
- 10% cash back on Uber and Uber Eats purchases (through Nov. 14, 2024)
- 8% back on Capital One Entertainment purchases
- 5% back on hotels and rental cars booked using Capital One Travel
- Unlimited 3% back on dining, entertainment, popular streaming subscriptions, and grocery store purchases (excluding superstores)
- 1% back on all other purchases
Welcome bonus: $200 cash bonus after you spend $500 on purchases within the first three months
Annual fee: $0
With the Capital One SavorOne Cash Rewards Credit Card, you can earn generous cash back on various categories without worrying about an annual fee.
You’ll earn a boosted 3% cash back on dining, entertainment, streaming services, groceries, Uber Eats, and more. Cash back rewards don’t expire, and there are no restrictions on how to redeem them. This card also comes with price protection and extended warranty services.
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Wells Fargo Active Cash® Card: Best for flat-rate cash back
Who it's best for:
Those who want a simple, hassle-free way to earn cash back on all their purchases.
Rewards: Unlimited 2% cash rewards on purchases
Welcome bonus: $200 cash rewards after $500 in purchases within the first three months
Annual fee: $0
Do you want to earn cash back without worrying about bonus or rotating categories? Consider the Active Cash Card, which offers 2% unlimited cash rewards on every purchase — that’s it.
This card also has cell phone protection and a 0% introductory APR period on purchases and balance transfers. You can redeem cash back as a statement credit, direct deposit into a Wells Fargo savings or checking account, or as a gift card.
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Prime Visa: Best for online shopping
Who it's best for:
Prime members who want to earn rewards on their online purchases and access added membership perks.
Rewards:
- 5% back at Amazon.com, Whole Foods Market
- 5% back on Chase Travel purchases
- 2% back at restaurants and gas stations
- 2% back on local transit and commuting
- 1% back on all other purchases
Welcome bonus: $100 Amazon Gift Card instantly upon approval for Prime members
Annual fee: $0 ($139 Prime membership required)
Prime Visa offers the best earning potential for Prime members who do a significant amount of shopping at Amazon and Whole Foods.
You’ll also earn boosted rewards at restaurants, gas stations, and transit. Rewards can be redeemed for cash back, travel, and Amazon purchases. There's no annual fee; cardholders get an Amazon gift card upon account approval.
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Citi Double Cash® Card: Best for balance transfers
Who it's best for:
Those looking to consolidate their debt and save interest while earning cash back on their everyday purchases.
Rewards:
- Up to 2% cash back on all eligible purchases (1% when you buy, plus another 1% when you pay off purchases)
- 5% total cash back on hotels, car rentals, and attractions booked via the Citi Travel portal (through Dec. 31, 2024)
Welcome bonus: Earn $200 cash back after spending $1,500 on purchases in the first six months (fulfilled as 20,000 ThankYou® Points, which can be redeemed for $200 cash back).
Annual fee: $0
Touting an exceptional balance transfer offer and cash back earnings, the Citi Double Cash® Card allows you to tackle debt while maximizing spending rewards.
This card has no annual fee and a 0% introductory APR offer for 18 months on balance transfers made in the first four months. After, you’ll be charged an ongoing rate of 19.24%-29.24% APR.
With this card, you’ll earn 2% cash back on all purchases — 1% when a purchase is made and another 1% when it's paid off.
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Capital One Platinum Credit Card: Best for building credit
Who it's best for:
Those looking to establish or rebuild their credit without worrying about an annual fee.
Rewards: None
Welcome bonus: None
Annual fee: $0
The Capital One Platinum card is relatively easy to get approved for and can help you build your credit score. Plus, because it’s an unsecured card, there’s no initial deposit required.
With this card, you can access a credit line as low as $300 or up to $1,000. After six months of responsible use, you’ll be considered for a credit limit increase, which can lower your utilization and help boost your score.
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Discover it® Student Cash Back: Best for college students
Who it's best for:
Students who want to earn cash back on their spending while building their credit.
Rewards:
- 5% cash back on rotating categories each quarter (up to $1,500 in combined purchases, then 1%)
- 1% on all other purchases
Welcome bonus: Discover will match all cash back earned at the end of your first year
Annual fee: $0
This card is best for students who want to earn cash back in everyday categories that change each quarter. Bonus categories have included grocery stores, gas stations, and drug stores in the past.
One notable perk of this card is that Discover will match any cash back earned in the first year, which can maximize your earnings.
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Ink Business Preferred® Credit Card: Best business credit card
Who it's best for:
Business owners who want to earn rewards on their business expenses and benefit from travel perks.
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Rewards:
- 3X points on the first $150,000 spent on travel and select business categories each account anniversary year (then 1X points)
- 1X points on all other purchases
Welcome bonus: 100,000 bonus points after spending $8,000 on purchases in the first three months
Annual fee: $95
The Ink Business Preferred® Credit Card comes with a solid welcome bonus plus bonus rewards on everyday business expenses. Plus, it comes with a lower annual fee, so you don’t need to worry too much about offsetting added costs.
Cardholders can earn boosted rewards on business expenses, including travel, shipping purchases, advertising purchases made with social media and search engines, and internet, cable, and phone services. This makes the Ink Preferred one of the best business credit cards out there.
This card also includes perks like cell phone protection, primary rental coverage, purchase protection, and free employee cards.
Types of credit cards and how they work
There are a few different types of credit cards. Rewards cards typically earn cash back, points, or miles, depending on your card type.
Flexible travel rewards cards
Cards like the Chase Sapphire Preferred® Card or the Chase Sapphire Reserve® offer flexible travel rewards points you can redeem in multiple ways.
You’ll earn points through spending that you can then use to book travel through the issuer’s travel portal. Redemption values vary but generally offer 1-1.5 cents per point towards flights, hotels, rental cars, cruises, and more. Transferring points to participating airline and hotel partners may get even more value.
Co-branded airline and hotel cards
Co-branded cards are issued in partnership between a hotel or airline chain and an issuer, like the United℠ Explorer Card or the Marriott Bonvoy Boundless® Credit Card. These cards earn points or miles tailored to that loyalty program.
While redemptions may be limited to that specific airline or hotel chain, co-branded cards often include added perks and discounts.
Cash back credit cards
Rather than earning points or miles, these cards offer cash rewards as a percentage of your spending. How much cash back you can earn depends on the card and type of purchase. Some of the best cash back credit cards include the Wells Fargo Active Cash® Card or the Chase Freedom Unlimited®.
Cash back cards are often much more straightforward than travel cards, but cash back may not be as flexible as points or miles. You may also get more value from points over cash back, which can often only be redeemed as a statement credit or direct deposit.
0% introductory APR cards
Cards with 0% introductory APR periods allow you to finance significant expenses over 12+ months or consolidate debt without paying interest. You often won’t earn rewards during the introductory period, but these cards allow you to save on interest payments in the short term.
Business credit cards
Business credit cards like Ink Business Preferred® Credit Card can help companies make the most of their spending. These cards offer bonuses in common business categories like advertising, shipping, and telecom services.
How to pick the best credit card
Asking yourself a few key questions makes it easier to choose the best card that fits your spending habits and goals.
1. What type of rewards do you want
First decide whether you want to earn flexible points, miles, or cash back. Frequent travelers may want transferable points that can be redeemed for flights, hotels, rental cars, and more. But if you’re looking for something simple, a flat-rate or bonus category cash back card may suit you better.
2. Where do you spend the most money?
Next, analyze your monthly spending across categories like groceries, restaurants, and gas. Finding a card with bonus categories that align with your spending is a good idea.
For example, families who spend at U.S. supermarkets may consider the Blue Cash Preferred® Card from American Express, which offers 6% back at U.S. grocery stores, up to a monthly limit.
Travelers who spend the most on hotels and flights should use a card like Chase Sapphire Reserve®, which offers 10X points on hotel stays and 5X points on air travel booked through the Ultimate Rewards portal.
3. What’s your credit score?
Match your credit score and profile to target cards you’ll likely get approved for. Those with a limited credit history should start with a secured credit card or credit card geared towards poor credit.
Those with excellent credit can set their sights on premium travel cards with the richest perks and rewards.
4. Is there an annual fee?
Crunch the numbers to determine whether a card with an annual fee offers enough value to justify the cost. Estimate your expected spending to calculate bonus earnings in top categories.
Compare that to alternatives like no annual fee cards with flat-rate rewards.
5. Is there a welcome bonus?
Pay close attention to sign-up bonuses. New cardholder offers can net you hundreds of dollars (or thousands of reward points) just for spending a certain amount within the first few months of opening the card. Be sure to research redemption values so your earnings align with the rewards you’ll actually use.
How we rated the best credit cards
To determine the best credit cards, we evaluated each card's sign-up bonus, rewards earning rates on purchases, added perks and benefits, annual fees, and overall value.
Our team analyzed numerous credit card offers and selected the top contenders based on these key criteria. The options on this list represent the best value, rewards, and benefits available. Read more about our methodology here.
Frequently asked questions about credit cards
How do I pick the best credit card for me?
What credit score do I need to get the best credit cards?
What are the different types of rewards offered by the best credit cards?
Can I have multiple credit cards?
What should I look for when choosing the best card?
How do I compare credit card offers?
Are the best credit cards worth the annual fee?
The bottom line
Credit cards can be a valuable tool if you use them wisely. For the most part, this means using cards for rewards and perks and avoiding credit card interest and long-term debt.
You'll also want to make sure you wind up with the right credit card for your needs to begin with. Reviewing the best rewards credit cards is an excellent place to start your search once you're ready.
Editorial disclaimer: Opinions expressed are author's alone, not those of any bank, credit card issuer, or other entity. This content has not been reviewed, approved, or otherwise endorsed by any of the entities included in the post.