Hotels Runner Up: Marriott Bonvoy Brilliant American Express Card
Earn 75,000 Marriott Bonvoy bonus points after you use your new Card to make $3,000 in purchases within the first 3 months. Plus, earn up to $200 in Statement Credits for eligible purchases at U.S. Restaurants within the first 6 months of Card Membership.
|Rewards Earning Rate||Earn 6 Marriott Bonvoy points for each dollar of eligible purchases at hotels participating in the Marriott Bonvoy program. 3 points at U.S. restaurants and on flights booked directly with airlines. 2 points on all other eligible purchases.|
|Foreign transaction fee|
- Pros & Cons
Our choice for the best hotel credit card runner-up is the Marriott Bonvoy Brilliant American Express Card because of its generous welcome offer, annual credit, and yearly free night worth up to 50,000 points.
Each year the card offers a $300 annual credit for eligible purchases at participating Marriott properties. Plus, there’s a $100 property credit on eligible stays. While traveling, you’ll also enjoy unlimited visits to over 1,200 lounges in over 130 countries, thanks to the complimentary Priority Pass Select membership.
Good all around for travel but most rewarding on Marriott purchases
Annual statement credits and Marriott Bonvoy property credits
Complimentary Marriott Bonvoy Platinum Elite status for one year
No introductory APR for purchases or balance transfers
Annual fee at the higher end of what many travel cards charge
Only 2 points per dollar at hotels other than Marriott
Simplycash Preferred Card From American Express
- 19.99% on purchases, 21.99% on cash advances.
- Rewards Rate2%-10%10% cash back for the first four months, then earn unlimited 2% cash rewards on purchases.
- Intro OfferUp to $400Earn 10% cash back on purchases for the first 4 months . New cardmembers only.
- Our TakeWhy we like itA high flat rewards rate of 2% makes it easy to earn cash back on every purchase no need to keep track of bonus categories, spending limits or tiered and rotating structures.Pros
- An unlimited 2% cash-back earn rate is among the highest we evaluated.
- You can earn up to $400 in the first four months.
- Other cards on this list offer a higher cash-back rate on specific spending categories and might be a better fit if youre comfortable keeping track of tiered rewards structures.
Our pick for a premium Aeroplan credit card with unlimited rewards
What To Consider When Comparing Credit Card Features
Theres no such thing as a one-size-fits-all credit card. Each cardholder will have their own unique set of wants and needs and its unlikely that one credit card will tick off every box. When determining which credit card offers the best set of features to fit your must-haves, compromise is the name of the game. If youre hoping to land a card that comes loaded with premium frills but doesnt charge an annual fee, youll have to choose one or the other. For further comparison, check out our compare credit cards tool to see what card is best for you.
When narrowing down the type of card thats right for you, ask yourself which of the following features you hope to avoid and which you absolutely cant do without:
Don’t Miss: Do Banks Sell Silver
Bank Of America Application Restrictions
Like many issuers, Bank of America has unconfirmed, but rumored application restrictions that may prevent you from approval, known as the 2/3/4 rule:
- You can only get approved for 2 new cards in a 2-month period
- You can only get approved for 3 new cards in a 12-month period
- You can only get approved for 4 new cards in a 24-month period
We reached out to Bank of America to ask about this 2/3/4 rule, and will update this review if we hear back.
For each of the cards on our list, Bank of America does specify within the card terms it may not be available to you if you currently have or have had the card in the preceding 24 month period.
Indusind Bank Platinum Aura Edge Visa Credit Card
This is a lifetime free credit card with no annual or joining fees. IndusInd Bank Platinum Aura Edge Visa Credit Card offers reward points across a wide category of spends.
Benefits of IndusInd Bank Platinum Aura Edge Visa Credit Card
- Fuel savings of up to Rs.2,400 at fuel stations across the country
- Travel insurance cover for lost baggage , lost passport , delayed baggage , lost ticket and missed connection .
- Savings points can be converted to airline miles
- Savings points on dining, retail, entertainment, and various other categories
Read Also: Routing Number For Ibc
How To Apply For A Credit Card Online
The simplest way to apply for a credit card is online, where you can complete an application in minutes. Here’s how to apply for a credit card online:
What Credit Card Is Best For Me
Finding the best credit card entails both self-assessment and research. You must document your creditworthiness and spending habits, along with reflecting on how you may use the card, whether that’s to build credit, temporarily borrow, or simply employ it as a purchasing convenience and a way to earn rewards.
New to Credit: If you are new to credit or have impaired credit, a secured credit card can be a great option. This type of card requires a security deposit but has the advantage that activity with the card is reported to all three credit bureaus, which helps the cardholder build credit over time. Many secured cards offer an option to graduate to a non-secured card after a period of on-time payments.
Carrying a Balance: Those who are carrying a card balance should consider shifting the debt to a balance transfer card with much lower interest, or even no interest rate at all for a period. These cards provide relief in the form of an extended period of a 0% APR on the transfer, which allows you to pay down the balance more easily. While some balance transfer cards offer rewards as well, its best not to add to your balance on the card until you have paid off the amount youve transferred.
If you frequently carry a credit card balance, avoid cards with high fees and interest regardless of attractive rewards and one-time bonuses. Your priority should be paying down your debt and avoiding accumulating more, not trying to earn rewards.
Read Also: Banque Td Net
Rogers World Elite Mastercard
Frequent U.S. travellers and cross-border shoppers need a card that wont break the bank when it comes to the foreign transaction fees that most banks charge. It is usually 2.5% for purchases made in another currency. The Rogers World Elite gets this nod because it offers 3% cash back on U.S.-currency purchases, which works out to a 0.5% return when you factor in foreign transaction fees. Pair that with no annual fee, and 1.5% back on all other purchases, and you have a competitive card.
However, world travellers will want to keep in mind that only the regular 1.5% earn rate will apply on foreign currency purchases outside the U.S., so you wont come out ahead after being hit with the 2.5% foreign transaction fee.
This card does include travel medical insurance, which covers you for trips up to 10 days. However, it also comes with a $15,000-a-year minimum spend, and a steep annual income requirement. So youll want to consider another option if you dont make $80,000 a year as an individual, or $150,000 as a household.
- Annual fee: $0
- Welcome bonus: $25 when you make your first purchase within your first 3 months
- Earn rate: 3% on purchases in U.S. currency and 1.5% cash back on all other purchases
- Income requirement: $80,000 individual $150,000 household
- Additional benefits: Travel emergency medical insurance for 10 days rental car insurance trip interruption and cancellation coverage
Whats The Best Credit Card For You
Theres no such thing as a one-size-fits-all credit card, and the sheer number of options can make it difficult to choose a credit card thats best for your unique situation. When looking for a starting point in finding a card that could work best for you, its good to consider a card that matches your spending habits. Todays credit cards cover a lot of territory for different types of consumers with different financial goals, including:
Recommended Reading: Who Does Jackson Hewitt Bank With
In The News: How To Create A 2022 Budget And Save With Credit Card Rewards
As we kick off the new year, many Americans are once again examining their finances and budgeting for the year ahead. Thats typical of any new year, but as we head into 2022 with another COVID surge on our hands, theres a sense of urgency to budget for any unknowns that lie ahead. It may sound counterintuitive to think of credit cards as a tool for saving money, but, when used strategically, credit card rewards and cash back bonuses can help keep costs down on everyday spending. Your card can also provide you with a detailed look at how you spend your money, broken down by category. That can be incredibly helpful as you plan out your budget for 2022. CreditCard.coms Dan Rafter tells us how to make the most of our credit cards while budgeting for the new year.
Best Cash Back Credit Cards Of January 2022
Many or all of the products featured here are from our partners who compensate us. This may influence which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list ofour partnersandhere’s how we make money.
Cash back is the most flexible of all credit card rewards. Instead of points that you have to figure out how to redeem and that you might not be able to redeem for something you want you get real dollars and cents you can use for, well, anything. Depending on the card you use and where you use it, you’ll earn cash rewards of 1% to 6% of the amount of each transaction. Some cards pay a single, flat rate on every purchase, while others pay higher rates in specific categories and a lower rate on everything else.
Some of our selections for the best cash-back credit cards can be applied for through NerdWallet, and some cannot. Below, you’ll find application links for the credit cards from our partners that are available through NerdWallet, followed by the full list of our picks.
Read Also: Wells Fargo Expresssend Cost Estimator
Whats The Difference Between Good Credit And Fair Credit
If you have a fair credit score, the distance between you and a good score could be as little as 1 point or as many as 90. It depends on whether your score lies on the low end or the high end of the fair credit spectrum .
Regardless of the distance, being one level below good credit can make a huge difference when you apply for credit. You could miss out on access to great credit card offers on rewards, cash back and 0% interest cards. You could also end up paying higher interest when you borrow money.
Consider this hypothetical example involving two credit card applicants and the APR they might pay depending on their credit scores.
In this example, just a 5-point difference in your FICO score could cost you $399 over two years.
The difference doesnt end at credit card APR. Paying a higher interest rate on long-term loans can mean the difference of thousands of dollars over time.
The same principles apply to the difference between good credit and excellent credit, which FICO defines as any score over 800. People with excellent credit scores generally have the best shot at premier credit cards and low interest rates on everything from car loans to mortgages.
How Many Credit Cards Should I Have
Many people have multiple credit cards, and there are benefits to this. It can help increase your credit score by giving you more available credit and therefore a better credit utilization ratio.
At its most basic, having access to more credit can help you finance more purchases if you don’t have enough cash to cover everything up front.
You can also earn more rewards by optimizing which card you use for certain spending categories. For instance you may make all your dining purchases with a card that earns bonus rewards in that category, but another card that for grocery purchases, since it has its own bonus multiplier
Ultimately, it’s up to you to decide how many credit cards you need. Make sure to evaluate your spending habits and research what card would be best for you.
Recommended Reading: Ibc Wire Transfer
Us Bank Altitude Go Visa Signature Card
Our pick for: Foodies
The U.S. Bank Altitude® Go Visa Signature® Card is perhaps the most cost-effective restaurant card on the market, earning a whopping 4 points per dollar on dining purchases including takeout and delivery. You can find higher rates on dining, but not on cards with no annual fee. Read our review.
Blue Cash Preferred Card From American Express: Best For Us Streaming Rewards
Welcome offer: Earn a $300 statement credit after you spend $3,000 in purchases on your new Card within the first six months of card membership.
Rewards rate: Earn 6% cash back at U.S. supermarkets and select U.S. streaming services 3% on transit and at U.S. gas stations 1% on other eligible purchases. Cash back is received in the form of Reward Dollars that can be redeemed for statement credits.
Annual fee: $0 introductory annual fee for the first year, then $95
Who should apply:The Blue Cash Preferred offers valuable bonus categories that keep up with changing consumer habits. With a new streaming service being launched every other day, earning 6% on streaming is a great bonus category that only a few cards recognize.
This card is also a commuters dream, with unlimited 3% cash back on gas and transit . Although the card does not earn Membership Rewards points, it remains a simple way to earn rewards on common everyday spending categories.
Recommended Reading: Td Bank Atm Overdraft Limit
What Types Of Credit Card Rewards Can You Get
All of these cards earn some type of rewards, but the kind of rewards differs from card to card:
Transferable points These are the issuers currencies that can be transferred to certain partners to maximize value. For example, several Chase cards earn Ultimate Rewards points, which can be redeemed for several different things through the Chase Ultimate Rewards portal but can also be transferred to one of Chases partners, including United or Marriott. Generally speaking, this type of rewards card is the most valuable because of its redemption flexibility.
Cash back rewards This is the most straightforward type of reward. Youre earning a percentage of each purchase that you can redeem for cash at a later date. Although cash back is always redeemed at a fixed value, it can be highly useful for both beginners and seasoned travelers. Points and miles are best redeemed for airfare or hotel bookings, but cash back has more flexibility without compromising its value. You can use cash back to save up for the day-to-day expenses of your travel or you can simply use it to save money on your statements each month.
Rewards with loyalty programs These are cards that earn points or miles for a specific loyalty program, typically for an airline or hotel. Most of the time, these cards also come with brand-specific benefits like complimentary elite status or priority boarding . These currencies arent as flexible as transferable currencies but they can still be highly valuable.
Capital One Spark Miles: Best For Larger Businesses
Why its great in one sentence: The Capital One Spark Miles for Business card earns an unlimited 2 miles for every dollar you spend on the card plus 3 additional miles for hotel and car rentals booked through Capital One Travel with the card and those miles can be redeemed for any travel purchase you make at 1 cent per mile or transferred to Capital Ones airline partners for potentially even more valuable redemptions.
This card is right for: Larger businesses that want easy-to-redeem travel rewards miles, with the option to learn how to master transferable miles down the line for greater value.
- Earn 5 miles for every dollar you spend on your card on hotels and rental cars booked via Capital One Travel.
- Earn 2 miles per dollar on all other purchases with no cap.
- Redeem miles for any travel purchase at a rate of 1 cent per mile.
- Miles can also be transferred to any of 18 airline and hotel partners.
- Up to $100 credit when applying for Global Entry or TSA PreCheck.
- No foreign transaction fees.
- No annual fee for the first year, then $95 per year.
Sign-up bonus: Earn 50,000 bonus miles when you spend $4,500 in the first three months of your account opening.
Capital One miles are easy for businesses to redeem on any travel purchases made with the card at a rate of 1 cent per mile, or the miles can be transferred to any of Capital Ones 18 airline and hotel partners for potentially higher value with some extra work.
Recommended Reading: Bank Of America Ordering Checks