Best credit cards of March 2024
At The Points Guy, we know that choosing the best credit cards for your wallet can be tough since there are tons of options on the market. To simplify this process, our team has done the heavy lifting for you, compiling a current list of our top picks of the best credit cards available.
Our curated selection features cards with premium rewards, elevated cash-back offers, impressive welcome bonuses and more. Whether you’re new to the world of credit card rewards or a seasoned traveler who's an expert at racking up points and miles, our comprehensive guide to the best credit cards is here to help.
Check out our hand-picked, top-tier options from our partners that cater to nearly every lifestyle and match your unique preferences.
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Comparing the best credit cards
Credit card | Best for | Intro offer | Earning rate | Annual fee |
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More details on the best credit cards
Credit pointers with Brian Kelly
Maximizing credit card rewards
Optimize your spending strategy
When using a credit card, every purchase you make should reward you with points or cash back based on how you spend. Key features to look for in a credit card include bonus earnings in every day categories like gas, groceries or entertainment, generous welcome offers that can be redeemed for travel, as well as benefits and perks that you can use and that can offset any annual fee you might pay.
Earn rewards in the right loyalty program for you
Finding the right loyalty program can be just as difficult as finding the right credit card. There are programs for banks, airlines and hotels — but not all points hold the same value. Consider your goals, and the earning rates and redemption options for each program to see how they can support you, and always keep in mind program limitations and blackout dates.
Redeem your points and miles
Redemptions are all about getting the most out of your points. Depending on the loyalty program, you can often maximize your redemption by choosing higher-value options, such as premium cabin flights or luxury hotels, that would otherwise be too cost-prohibitive. You can also look for limited-time promotions and deals that offer added value or bonuses for redemptions that would typically be less valuable.
How we rate cards
How do credit cards work?
The idea behind credit cards is simple — you’re borrowing money that you pay back later. If you take a while to pay it back, rather than pay it in full when your credit card statement comes, you’ll be charged interest. The amount is carried over to the next month, and you pay interest on the whole balance (unless you’re on a special 0% deal). The entire credit card industry exists on this basic premise.
Why not just borrow cash from a bank then? Well, one of the biggest perks of a credit card is the potential rewards you can earn from this type of payment for something — and that’s where TPG comes in. We’re here to help you find the credit card and rewards program that are right for you.
How do credit card rewards work?
Many credit cards offer redeemable rewards on purchases as an incentive for using the card. These rewards differ from issuer to issuer and even card to card. Some earn cash back, while others offer points or miles that can be redeemed for travel, gift cards or other rewards.
At TPG, we are partial to travel credit cards that have additional perks and benefits to enhance our travel experiences. There are also incredible rewards structures available on top cash-back cards, and some of the best credit card combinations allow you to further maximize these rewards.
Typically, the best credit cards charge an annual fee as a trade-off for the rewards, perks and other benefits cardholders receive. This is especially true for the best premium credit cards on the market today. However, cardholders who earn rewards and take advantage of these perks will find it easy to offset the cost of any annual fee.
How does credit card interest work?
Credit card interest is the annual percentage rate (APR) you pay for holding a balance on your credit card. As a rule of thumb, the lower the APR, the less interest you’ll pay over time.
Before you apply for a credit card, all lenders have to tell you the APR, and it can help you make sure you’re getting the best deal if you are someone who typically holds a balance on a credit card.
APR can be a good way to compare different credit cards, but what you actually pay in interest depends on how and when you pay off your debt.
Generally, APR rates on credit cards range from 15% to 30%, with lower rates reserved for those with higher credit scores. A good credit score makes it a lot easier to get a favorable APR, so improving your credit score is a good first step toward a better APR.
It’s worth noting that your APR is usually based on rates for making new purchases (e.g., buying something online or in-store). Rates for other transactions, such as cash withdrawals or balance transfers, may be different.
Your credit card’s APR affects how much you pay, so it’s worth doing your research — some cards offer 0% APR for a promotional period on new purchases or balance transfers, but always check the terms and conditions carefully to make sure you’re aware of exactly what you’ll be paying.
And, of course, you can avoid interest entirely by paying your entire balance in full and on time every single month.
Credit card issuers and networks
Most credit cards have two or three different logos on them, representing the issuing bank, the card network and the cobranded partner (if there is one). What is the difference between them? It mostly boils down to a division of labor. Each party is responsible for different jobs that keep your credit card working.
Card issuers, such as Chase and Citi, do the following:
- Handle and evaluate credit card applications.
- Produce and distribute the physical cards.
- Create the terms and benefits of the account, including things like interest rate, annual fees and bonus categories.
- Pay merchants on behalf of the cardholder (i.e., paying the restaurant when you swipe your card).
- Collect payments from cardholders and provide account services.
The primary functions of a card network, such as Visa or Mastercard, include setting the interchange fees (commonly known as swipe fees) and building out a payment infrastructure so more merchants can accept their cards. American Express and Discover are unique in that they are both issuers and networks, so they fulfill duties for both.
Cobranded credit cards earn rewards with a specific brand that has struck a marketing agreement with an issuer. These cards also tend to offer brand-specific perks, such as an anniversary free night or elite status with a hotel, free checked bags and priority boarding with an airline, or statement credits for shopping with the specific merchant.
Private label credit cards, commonly referred to as store credit cards, are limited to usage at one specific store. Typically, store credit cards aren’t a great idea and are unlikely to rank among TPG’s picks for the best credit cards. Their sign-up bonuses usually aren’t as good as our favorite cash-back or travel cards, the rewards aren’t flexible and their annual percentage rates are higher than average.
Types of credit cards and their benefits
Credit card companies offer different kinds of cards to meet different consumer needs. Some people put a lot of money on their cards every month and then pay them off immediately — those people benefit from a card that returns a portion of their spending in the form of rewards. Others tend to carry a balance from month to month — they’re better served with a card that offers a low ongoing interest rate. Still, others are working to improve their credit — issuers have cards designed for those consumers, too.
Cash back
Cash-back cards take a percentage of each purchase (usually somewhere between 1% and 5%) and offer it back to you as a reward. Those earnings are typically pooled into an online account, but the exact redemption method varies. On some cards, you redeem them as a statement credit against your outstanding balance, while others allow direct deposits into your bank account. Some even do this automatically for you.
Travel
These cards earn points linked to a specific bank or issuer like Chase or American Express. The rewards you earn can then be used in a variety of ways, including for gift cards, travel purchases or even cash back. However, many popular travel cards also allow you to transfer your rewards to a selection of airlines and hotel programs, depending on the partnerships of each bank or issuer. This is where you have the potential for huge value. If you’re loyal to one specific airline or hotel, it’s worth researching the transfer partners of cards before applying.
If you’re loyal to one specific airline or hotel, it’s worth researching the transfer partners of cards before applying. This gives the ultimate freedom when deciding how you’d like to redeem your points, as your points don’t already belong to an airline or hotel brand.
Airline
Airline cobranded cards earn a specific type of airline miles. These cards also generally come with perks specific to that airline. For example, an airline card may offer free checked bags, a certain number of elite qualifying miles to help you reach status, priority boarding privileges, inflight discounts and more.
Hotel
Hotel cobranded cards work like airline cards. You’ll earn rewards that are redeemable for a particular hotel program, such as Hilton Honors or Marriott Bonvoy. Hotel cards come with their own benefits, such as complimentary elite status or free award night stays. Additionally, hotel cards can help you stack your earnings on hotel stays with the hotel’s program.
While we recommend never carrying a balance on a credit card, there are times when a large purchase or emergency situation arises. Alternatively, you may have misunderstood how credit works in the past, and you have a large balance you’re working to pay off.
In either of these cases, having a 0% APR or balance transfer credit card can be a lifesaver. These cards offer a set introductory period of zero interest on new purchases, balance transfers or sometimes both. This can help finance one-time purchases, such as getting a new roof or remodeling the bathroom, or allow you to transfer a balance from a high-APR card with another bank and enjoy a year (or more) of no additional interest.
When using these types of cards, you’ll want to make sure to pay the balance off before the promotion expires in order to avoid paying any interest. You should also be careful not to use a 0% APR or balance transfer card as an excuse to spend beyond your means. Instead, you should treat this like one element of your emergency fund and only tap into it when necessary.
If you don’t qualify for a 0% APR credit card, consider a low-interest rate card instead. Though we advise against carrying a balance, if you need to pay down debt, a low-interest card can help you save money and pay down your balance faster.
Building credit as a college student is an essential life step on the path to learning financial responsibility. For the most part, student credit cards work the same as other credit cards. You’re provided with a credit limit representing the maximum amount of money you can borrow on that specific card for that month. You’re then required to pay back the amount you borrowed by the due date on your credit card statement to avoid incurring interest.
Since you may have little-to-no income or credit history as a student, you likely won’t qualify for the top rewards credit cards. However, you can qualify for cards with no annual fees that are made exclusively for college students looking to start building credit.
A business credit card can help you maximize your purchases, separate your expenses and save money on interest each year. These business credit cards offer bonus rewards on categories popular with small businesses, such as office supplies, airfare, advertising and gas.
In fact, business-specific bonus categories are one of the main ways that business credit cards differ from personal credit cards, but you need to do your research before applying for a small-business credit card. While business cards often offer tailored bonus categories and additional benefits for business owners, they also have fewer consumer protections than personal credit cards.
Everyone is new to credit at some point in time. You won’t be able to get approved for the top rewards cards if you have a limited credit history — or have made some credit mistakes in the past and have a poor credit score. In those instances, you may want to use a secured credit card while you work to improve your credit.
A secured credit card is a card that requires a security deposit from the cardholder when the account is opened. This security deposit is usually refundable and determines your initial credit limit. A secured credit card is a stepping stone to an unsecured (or traditional) rewards credit card. Once you’ve increased your credit score, you can apply for traditional rewards credit cards.
How to apply for a credit card
You can apply for a credit card online, by mail or by phone. The easiest option is to do it online. A credit card issuer will ask for some personal information, including your name, contact information, annual income, Social Security number and other financial details. You’ll be asked to read the terms and conditions of the card’s benefits, interest rates and applicable fees.
Once you apply, many issuers will give you a decision in just a few seconds, but you could end up having to wait for up to two weeks for an answer.
How to choose the best credit card
- You should sign up for a card if you think you can achieve the spend for the card’s welcome bonus, as it is a large part of a card’s value. Sign-up bonuses are often higher than what a cardholder would earn through regular spending. Our best cards list features many of the highest bonuses available.1Sign-up bonus
- Many cards on the best cards list feature a premium annual fee, but that means they also come with premium benefits. Choose the best credit card for you by selecting cards that have benefits that would be worth more than the card’s annual fee.2Annual fee
- Bonus categories are a great way to narrow down what type of card you want. Many of the cards on our best cards list offer various types of bonus categories like dining, travel, and more. Choose the card with the best bonus category to match your spending to maximize your reward-earning potential.3Bonus categories
Pros + cons of credit cards
Pros
- Using credit cards responsibly can help build your credit score
- Credit cards can earn cash back or points on every dollar you spend
- Credit cards provide purchase, theft and fraud protection
- Credit cards provide perks like travel insurance, complimentary hotel stays and more
Cons
- Credit cards can encourage overspending
- Carrying a balance and using your card irresponsibly can damage your credit score
- The cost of borrowing on credit cards is higher than traditional loans
- Having too many card applications can negatively affect your credit score
Frequently asked questions (FAQs)
There isn’t such a thing as “the best credit card.” Everyone and every situation is different, and that means the right card varies for each person. We all have different spending habits, changing financial goals and priorities, varying budgets and disparate levels of access to credit as a whole. What works for one person likely won’t work for the next — and there’s nothing wrong with that. Ultimately, the best credit card is subjective and largely based on your habits and priorities.
There are hundreds of credit cards available from many different credit card companies, each with its own advantages and disadvantages. For instance, you might find a card with a strong balance transfer offer but no rewards, while the best travel cards typically incur annual fees. Rather than focus on the best credit card company, the key is to understand your individual needs and what cards you can qualify for based on your credit profile. Once you know those, you can then pick the best credit card that meets those requirements.
If you’re just starting out, the easiest credit cards to get are beginner rewards cards and secured credit cards.
Once you’ve been approved for a new credit card, the time it takes to receive a new card from different issuers varies. Some issuers, such as Amex, may expedite the new credit card for you so you receive it within a couple of days after approval, especially if the card carries a high annual fee. With other issuers, it may take up to two weeks before your new card arrives.
When you apply for a new line of credit, you’ll typically trigger a hard inquiry of your credit history. When this happens, you’ll almost always see a small, temporary drop to your credit score (generally less than 10 points). However, adding a new credit card to your arsenal can have some very significant positive impacts on your score. A new account gives you more opportunities to demonstrate immaculate payment history, and it can also decrease your credit utilization (since you’re spending the same amount with a larger amount of available credit).
It depends. Many cards with annual fees offer bonus rewards on select purchases along with lucrative perks like travel credits, airport lounge access or even automatic elite status. However, you should only pay an annual fee on a credit card if you get at least that much value out of the card every year.
Thankfully, there are many terrific no-annual-fee credit cards out there, so even if you can’t justify the ongoing cost of top premium travel cards, you can still get some solid value from your everyday spending.