When you purchase through links on our site, we may earn an affiliate commission.
Choosing the best credit card that suits your needs can be quite difficult in a pool of so many options. Whether you are a foodie, a traveler, or just a student looking for the best fit for your credit situation and spending habits, it’s essential to research and understand your options and what these best credit cards offer.
Credit cards are a great way to achieve your financial goals in an affordable and efficient way. They are a convenient financial product that can cater to everyday use such as purchasing gas, groceries, or different uses such as jewelry, travel packages, and electronics. You can enjoy the numerous additional benefits your card provides at your comfort. Not only do credit cards help you build credit, but you can also earn rewards from using your card in the form of miles points and cashback. Making purchases with your credit card consists of an annual percentage rate that is typically determined by the type of credit card you use, payment history, and your creditworthiness.
The following are the 10 best credit cards for 2022.
1. Chase Sapphire Preferred® Card
Are you a travel guru? Then this is the perfect credit card for you. The Chase Sapphire Preferred Card is a favorite among travel fans. You not only get a big introductory bonus of 60,000 points after you spend $4,000 in the first three months, but also you get the opportunity to be a part of the top-most travel reward programs in the world and enjoy premium travel and dining rewards. An annual fee of $95 is all that’s required every year, with a variable annual percentage rate of 15.99%-22.99% when you borrow money. Chase Sapphire Preferred Card offers foreign transactions at no cost.
Creditor ratings: 690-850
Editor ratings: 4.84 out of 5 Stars
2. Capital One Venture Rewards Credit Card
Book your trips using the Capital One Venture Rewards Credit card that not only provides you with miles but also offers you reimbursement for any purchases you made in the past while traveling. New cardmember holders also receive 60,000 bonus miles when they spend $3000 and above within the first three opening months. That’s not all; for every dollar spent on a purchase, the user earns 2 miles and 5 miles on every hotel or rental car booking made using the Capital One Travel feature. A variable APR rate stands at 15.99% –
23.99% with 0% intro for 15 months on any balance transfer or purchase. Additionally, no transaction fees are required when it comes to foreign operations. The Capital One Venture Rewards Credit Card charges a reasonable annual fee of $95.
Creditor ratings: 580-850
Editor ratings: 4.5 Stars out of 5
3. Wells Fargo Active Cash Credit Card
The world of credit cards can be quite complex to maneuver, but if you are looking for a valuable credit card that offers simplicity, then this is the card for you. Earn unlimited 2$ cash rewards on purchases with the Wells Fargo Active Cash Card and enjoy cashback rewards at a great flat rate. What do we love about this card? Your rewards don’t expire as long as your account is open. The card does not also charge any annual fee, making it quite the accessible option for every user. A generous sign-up bonus of $200 cash reward is available after spending $1000 on purchases within the first three months. Wells Fargo Active cash card has a competitive 0% introductory offer for the first 12 months then a variable annual percentage rate (APR) of 14.99%-24.99%. A transaction fee of 3% is charged on all foreign transactions.
Creditor rating: 670-850
Editor rating: 3.8 stars out of 5
4. Blue Cash Preferred® Card from American Express
The Blue Cash Preferred® Card from American Express has much to offer individuals who have too low credit scores to qualify for any other card. Travelers, especially from this category, can benefit highly from the entry-level reward cards that allow the member to collect transferable points every time they make a purchase. Cashback is offered in the form of reward dollars that you can redeem as a statement credit. Members can also enjoy a 0%intro APR on purchases for 12 months, then a 13.99% to 23.99% variable APR. The annual fee is $0 for the first year, then $95. Additionally, international purchases incur a 2.7% foreign transaction fee.
Creditor rating: 690-850
Editor rating: 4 stars out of 5
5. Discover it® Student Cash Back
The Discover it Student Cash Back card offers students the highest value when it comes to student credit cards. The introductory reward is a dollar-for-dollar match reward system that means all the cash you make
at the end of the first year will be matched by the provider. This credit card not only shuns the annual fee but also waives the need to pay any fee on the first late payment or APR on late payments. Your APR stands at 0% intro on any purchase you make for the first six months; however, a variable rate of 12.99% – 21.99% is applied after that. This is the perfect credit card for individuals who want to build their credit and establish healthy spending habits while accessing a good number of benefits, such as earning rewards. The foreign transaction fee stands at $0. The cherry on top? The credit card consists of a text alert feature and access to FICO scores.
Creditor ratings: 600-850
Editor ratings: 4.1 stars out of 5
6. Citi Simplicity Card
Are you a consumer in search of a long-term balance transfer card? Are you looking forward to making a large purchase? Then look no further because the Citi Simplicity Card has all you need. This card doesn’t feature a reward program meaning you can’t access the rewards or cashback feature. That said, this card is
best suited to individuals who are considering maximizing on a debt payoff plan. The introductory 0% APR applied to the first 21 months period makes this the best debt management card. After that, APR is determined by the user’s creditworthiness and ranges from 14.74% – 24.74% (variable). When it comes to the annual fees, the fee stands at 0%; however foreign purchases will be charged a 3% transaction fee. The balance transfer rate is 5% of the amount being transferred.
Creditor ratings: 700-850
Editor’s ratings: 4.8 stars out of 5
How to Pick the Best Credit Card for You?
The question on plenty of people’s minds is which credit card should I take? The best credit card for you will match your spending habits, credit history qualifications, lifestyle, and financial goals. There are plenty of card options for you to choose from, including:
- Balance transfer credit cards
- Travel credit cards
- Low-interest credit cards
- Secured credit cards
- Cashback credit card
- Student card
- Small business card
To make a choice on the credit card, you will need to consider the following:
1. How is your credit?
Let’s face it: Credit scores determine the kind of credit card you are eligible for. Creditors use the FICO credit scoring model to determine where one falls on the range between 300 to 850. This information will help you make an informed decision on which credit card suits your needs. You can also start figuring out ways that will help you improve your spending habits.
2. Identify and decide what type of card you need.
The best card is one that fulfils your needs. A rewards credit card is the perfect fit for individuals who want to earn rewards, while a student credit card is the best way to build or rebuild credit. Every kind of credit card has a unique purpose to it; all you have to do is identify the card that maximizes your own needs.
3. Ask plenty of questions.
As you continue to narrow down on the credit card of your choice, it’s crucial that you learn all there is to know about the card you prefer. The only way to do this is to ask a number of questions surrounding the following areas:
- How will this particular card help you build your credit?
- What’s the opening and annual fee expected?
- Can you upgrade to a better card as you build your credit?
- What’s the APR interest rate, and how long is the 0% period?
- What security feature does the credit card offer its user?
- Can you access rewards with this particular card, and how quickly can you earn them? ? What are the card’s complicated features?
- What’s the credit card’s balance transfer policy?
4. Pick the card that offers you the highest value.
Asking the above questions will help you narrow down your choices to a few credit cards. A good credit card will offer extra value in terms of a debt payoff planner, waiving charges on late fees or Penalty APR, no expiration date on rewards, and the allowance to increase the credit limit after you’ve made a few consecutive on-time payments.
When used responsibly, credit cards can be the tool you need to earn rewards, build your credit, and access travel. You will also have a backup plan in case of unplanned expenses and emergencies. Armed with the extensive knowledge above, you can pick a credit card that suits your needs and offers you as many benefits as possible.