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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 an extra 1.5% cash back on every purchase on up to $20,000 spent in the first year. For example, that extra 1.5% would boost the 5% cash back normally available for travel up to 6.5%.
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, then a variable rate of 15.24% to 23.99%.
- No annual fee.
Note: This card has a 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.
Plus, for a limited time, you can earn points worth $200 in cash back when you make $1,500 in purchases in your first six months as a cardmember.
What to know:
- $200 cash back when you spend $1,500 on purchases in the first six months from account opening.
- 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: For a low annual fee, the Blue Cash from American Express Card offers an easily attainable introductory offer worth $350, plus as much as $360 back on groceries each year. And that’s before you start racking up rewards from your travel, entertainment and every thing else.
What to know:
- Earn a $350 statement credit when you make $3,000 in purchases during your first six months.
- Earn 6% back on up to $6,000 spent at U.S. supermarkets each year.
- Earn 6% back on select streaming subscriptions.
- Earn 3% back on transit purchases and gas.
- Earn 1% back on other purchases.
- $95 annual fee. (See rates and fees)
Note: This card has a 2.7% foreign transaction fee (after converting to U.S. dollars).
Citi Diamond Preferred
Why we like it: The Citi Diamond Preferred card is a good choice for people transferring a balance, thanks to the introductory 0% APR on balance transfers for the first 21 months. You’ll also get a full 12 months of 0% APR on new purchases.
What to know:
- 0% introductory APR on balance transfers for 21 months, with a balance transfer fee of $5 or 5%, whichever is higher.
- 0% introductory APR on new purchases for 12 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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