The Best Credit Cards for December 2020

Happy woman using credit card for holiday shopping
Photo by Daniel_Dash / Shutterstock.com

Money Talks News has partnered with CardRatings for our coverage of credit card products. Money Talks News and CardRatings may receive a commission from card issuers.

The holiday season is in full swing, and we’re thinking about gifts — mostly for loved ones, but what about ourselves?

Could you use some extra cash back next year? Are you ready to start thinking about traveling in a post-COVID world?

Now is an excellent time to stuff your stocking with some new plastic.

Here’s a look at the top cards available right now.

Best cash-back cards

Blue Cash Preferred from American Express

Why we like it: The Blue Cash Preferred Card offers a very strong 6% cash back on the first $6,000 per year spent on supermarket purchases and 3% cash back spent at gas stations in the U.S. Plus, for a limited time, you also earn a $250 statement credit after you spend $1,000 with the card within the first three months.

What to know:

Blue Cash Preferred from American Express
American Express
  • 6% cash back on up to $6,000 spent at U.S. supermarkets per year, and 1% cash back after that amount
  • 6% cash back on certain U.S. streaming subscription services
  • 3% cash back on spending at U.S. gas stations and for taxi or rideshare service
  • 1% cash back on other purchases
  • 0% introductory APR on purchases for 12 months
  • $95 annual fee

Note: Cash back is redeemed as statement credits.

Citi Double Cash

Why we like it: We’ve called this “The Best Cash-Back Credit Card for Everyday Use” since it earns 1% cash back on every purchase, then earns another 1% cash back when you pay for those purchases. If you want the peace of mind that you’re earning good cash-back rewards on everything, with no gimmicks or expiration dates, this is your card.

What to know:

Citi Double Cash
Citi
  • Get a total of 2% cash back on every purchase
  • No limits or caps on cash back
  • No confusing categories; everything earns cash back
  • No annual fee

Note: This card offers 18 months of 0% introductory APR on balance transfers.

Best overall card bonuses

Chase Sapphire Reserve

Why we like it: The Chase Sapphire Reserve card offers a sign-up bonus of 50,000 Ultimate Rewards points after you spend $4,000 with the card within the first three months. Redeeming those points for travel through the Chase website adds 50% to their value, for a bonus worth $750.

What to know:

Chase Sapphire Reserve
Chase
  • Get 50,000 bonus Ultimate Rewards points after spending $4,000 on purchases in the first three months from account opening.
  • Earn 10 points per $1 spent on Lyft rides through March 2022.
  • Earn 3 points per $1 spent on travel and dining.
  • Earn 3 points per $1 spent on up to $1,000 in grocery store purchases per month through April 2021.
  • Earn 1 point per $1 spent on everything else.
  • $300 annual travel credit.
  • A free year of Lyft Pink membership.
  • Complimentary DashPass delivery subscription.
  • Global Entry or TSA Pre-check application reimbursement up to $100.
  • $550 annual fee.

Note: The annual fee looks high, but is offset by the $300 annual travel credit and other card benefits, including food delivery and rideshare services and airport lounge access.

The Platinum Card from American Express

Why we like it: The American Express Platinum will rack up enormous rewards while providing stellar ongoing benefits, including 75,000 Membership Rewards Points after you spend $5,000 in the first six months.

What to know:

The Platinum Card from American Express
American Express
  • Earn 75,000 Membership Rewards Points when you spend $5,000 in your first six months.
  • 10X points on up to $15,000 eligible purchases at U.S. gas stations and supermarkets in your first six months.
  • 5X points on flights booked directly with airlines or through American Express Travel (on up to $500,000 in purchases starting Jan. 1, 2021).
  • 5X points on prepaid hotels booked at amextravel.com.
  • 1X points on other eligible purchases.
  • Uber VIP status and up to $200 for Uber rides or Uber Eats orders annually.
  • $550 annual fee.

Note: Other current card benefits include up to $100 in statement credits at Saks Fifth Avenue each year.

Best travel card

Capital One Venture Rewards Credit Card

Why we like it: An early spending bonus offer of 60,000 miles when you spend $3,000 within the first three months is worth $600 in travel.

What to know:

Capital One Venture Rewards Credit Card
Capital One
  • Earn 2 miles per dollar on every purchase.
  • Get a $100 credit on Global Entry or TSA PreCheck.
  • Extended warranty protection.
  • Travel accident insurance.
  • No foreign transaction fee.
  • $95 annual fee.

Note: This card has a $95 annual fee. The Capital One VentureOne Rewards Credit Card does not, but doesn’t have the same early spending bonus offer and offers a lower rate of return.

Best no-interest card offer

Citi Diamond Preferred

The Citi Diamond Preferred card is a good choice for people transferring a balance, thanks to the introductory 0% APR on both balance transfers and new purchases for the first 18 months.

What to know:

Citi Diamond Preferred
Citi
  • 0% introductory APR on balance transfers for 18 months, with a balance transfer fee of $5 or 3%, whichever is higher
  • 0% introductory APR on new purchases for 18 months
  • Free access to your FICO Score
  • No annual fee

Note: This card has a 3% foreign transaction fee, so plan accordingly for international travel.


Whatever you need in a credit card — whether it’s reward points, cash back or a low interest rate — you can find it with our credit card search tool. Click here to search for the plastic that best fits your needs.

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

Read Next
36 Things That Will Be Obsolete Soon
36 Things That Will Be Obsolete Soon

The writing is on the wall for dozens of things we have grown up with.

10 Tools You Need for Financial Stability
10 Tools You Need for Financial Stability

Have these tools and accounts in place so you can weather whatever comes your way.

8 Things You Should Rent Instead of Buying
8 Things You Should Rent Instead of Buying

You may think you’re looking at a must-have purchase. But do the numbers and think twice.

9 Purchases That Will Make You More Productive
9 Purchases That Will Make You More Productive

These Amazon products can give you an extra edge at work and other parts of your life.

8 Key Steps to Planning for Retirement as a Couple
8 Key Steps to Planning for Retirement as a Couple

Ready for retirement? Not so fast. You might be surprised at some of the issues that come up for couples when they plan.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Most Popular
7 Kirkland Signature Items to Avoid at Costco
7 Kirkland Signature Items to Avoid at Costco

Even if it seems you save a bundle buying Costco’s Kirkland Signature brand products, they may not be the bargain they appear to be.

How to Buy Gas At Costco Without a Membership
How to Buy Gas At Costco Without a Membership

The warehouse club often has some of the cheapest gas in town. Here’s how you can get it as a nonmember.

10 Things to Stop Buying If You Want a Clutter-Free Home
10 Things to Stop Buying If You Want a Clutter-Free Home

If you like to keep things simple, avoid these purchases.

A Simple Way to Silence Robocalls Today
A Simple Way to Silence Robocalls Today

A few steps can keep your phone from ringing when a spammer calls.

This Company Makes the Best Tires in America
This Company Makes the Best Tires in America

Driver satisfaction with tires is at an all-time high, but one brand stands out.

If You Find This Thrift Shopping, Buy It
If You Find This Thrift Shopping, Buy It

This iconic dinnerware is prized for everyday use as well as reselling for profit.

This Health Issue Can Hint at Dementia Years in Advance
This Health Issue Can Hint at Dementia Years in Advance

One type of pain is especially associated with cognitive decline.

Can I Switch to Spousal Social Security Benefits When My Ex Dies?
Can I Switch to Spousal Social Security Benefits When My Ex Dies?

Knowing when to claim can help you maximize benefits.

Medicare Will Not Cover These 6 Medical Costs
Medicare Will Not Cover These 6 Medical Costs

Don’t let these health care expenses catch you off guard in retirement.

8 Things You Should Always Buy on Amazon
8 Things You Should Always Buy on Amazon

The giant retailer shines when it comes to these things, from basics to hard-to-find specialty goods.

Beware This Hidden Ingredient in Rotisserie Chicken
Beware This Hidden Ingredient in Rotisserie Chicken

Something foul may lurk in those delicious, ready-to-eat birds.

5 Ways to Get Amazon Prime for Free
5 Ways to Get Amazon Prime for Free

Hesitant to drop $119 a year on an Amazon Prime membership? Here’s how to get it for free.

Prices Are Soaring on These 7 Items
Prices Are Soaring on These 7 Items

Some surprise price jumps are making life more difficult for consumers.

5 Ways to Fill Your Pantry With Free Food
5 Ways to Fill Your Pantry With Free Food

Anyone can take advantage of these resources.

5 States With the Worst Health Care for Retirees
5 States With the Worst Health Care for Retirees

All of these states are located in the same region of the nation.

7 Big Purchases You Should Never Make
7 Big Purchases You Should Never Make

Sometimes a big-ticket purchase is nothing more than a big waste of money.

6 Reasons You Should Stop Hiding Cash at Home
6 Reasons You Should Stop Hiding Cash at Home

Stashing money around the house is anything but harmless.

3 Ways to Get Microsoft Office for Free
3 Ways to Get Microsoft Office for Free

With a little ingenuity, you can cut Office costs to zero.

This Cellphone Carrier Has the Worst Network Quality, Customers Say
This Cellphone Carrier Has the Worst Network Quality, Customers Say

One major wireless provider stands out for the least reliable call, messaging and data services.

View More Articles

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Add a Comment

Our Policy: We welcome relevant and respectful comments in order to foster healthy and informative discussions. All other comments may be removed. Comments with links are automatically held for moderation.