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The pandemic hasn’t abated, and many people aren’t ready to travel or spend more than necessary. So, it may not seem like a great time for a new credit card.
On the other hand, if you’re a responsible spender, it may be more important than ever to make sure you’re getting the best value out of every dollar.
Whether you’re seeking higher cash back rates or the ability to transfer a balance away from high interest charges while you navigate the twists and turns of 2020, these are some of the best cards available right now.
Chase Freedom Unlimited
Why we like it: With no annual fee to worry about, the Chase Freedom Unlimited card is a top-tier choice for grocery or general cash-back rewards, offering at least 1.5% cash back on every purchase and more in certain categories. You also earn a $200 cash-back bonus after you spend $500 within the first three months.
What to know:
- 5% cash back on travel-related purchases through Chase.
- 3% cash back on dining at restaurants and on drugstore purchases.
- 1.5% cash back on every other purchase.
- No expiration on cash-back rewards.
- 0% introductory APR on purchases for 15 months.
- No annual fee.
Note: This card has a 3% foreign transaction fee, so plan accordingly for international travel.
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:
- 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.
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 $150 back in statement credits after you spend $3,000 with the card in the first six months.
What to know:
- 20% cash back on Amazon.com purchases in the first six months, up to $200 back.
- 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. (See rates and fees)
- $0 intro annual fee for first year, then $95. (See rates and fees)
Note: Cash back is redeemed as statement credits.
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:
- 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.
See rates and fees for Blue Cash Preferred from American Express.
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