I’ve monitored credit card offers since 2007. A lot has changed since then, as credit card rewards have grown in value. From a database of hundreds of cards, this article contains what I think our the overall best credit cards. This list is updated monthly.
Finding the best credit cards is both an art and a science. To some extent, it’s about the numbers. You look for cards with the lowest interest rates or fees, or the highest rewards. But it’s also about matching the best credit card with your specific financial needs.
As a result, the top card will vary from one person to the next. You should consider what your financial goals are, such as earning rewards, paying down debt with a 0% offer, or just having an everyday card you can use. You also need to consider your credit score.
With those caveats in mind, we’ve assembled a list of the Best Credit Cards for 2020. There are, of course, other options. With each category we’ve included a link to a larger list of credit cards. And following this list, you’ll find more details about these offers and information about our ranking methodology.
May 2020 Update
The big news in credit cards for May 2020 comes from Chase. Recognizing that the travel industry is all but shut down, Chase is offering up to 5x points on many of its travel cards for grocery purchases. There is a monthly spending cap of $1,500, but that should be more than enough for most families. You can get the details in our best credit cards for groceries article.
Best Overall Credit Cards
There are three cards that make the cut as the best overall. I carry and regularly use all three. I should add that I save and invest ALL of the rewards earned from these cards. For more on my approach to credit card rewards, check out this video:
Here are my top three cards.
Chase Sapphire Reserve Card
The Chase Sapphire Reserve Card makes the cut for several reasons. It has an excellent signup bonus, up to 3x rewards, a $300 a year travel credit, and unparalleled travel benefits and perks (including free airport lounge access).
Chase Sapphire Reserve Card
- Welcome Offer: Earn 50,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That’s $750 toward travel when you redeem through Chase Ultimate Rewards®
- $300 Annual Travel Credit
- 3X points on travel immediately after earning your $300 travel credit.
- 3X points on dining at restaurants & 1 point per $1 spent on all other purchases.
- $0 foreign transaction fees.
- Get 50% more value when you redeem your points for travel through Chase Ultimate Rewards.
- 1:1 point transfer to leading airline and hotel loyalty programs
- Access to 1,000+ airport lounges worldwide after an easy, one-time enrollment in Priority Pass™
- Select Up to $100 application fee credit for Global Entry or TSA Pre?®
This card does come with a $550. As an alternative, check out the Chase Sapphire Preferred Card, which comes with an annual fee of just $95.
Alliant Cashback Visa® Signature Credit Card
The Alliant Cashback Visa® Signature Credit Card is my goto cash back credit card. It pays 2.5% on all purchases for the first $10,000 in purchases per month; 1% thereafter. There is a $99 annual fee (waived the first year). That means you’ll need to spend at least $20,000 a year, otherwise, a no-fee 2% cashback credit card is better.
Amazon Prime Rewards Visa Signature Card
The third of my three favorite cards is the Amazon Prime Rewards Visa Signature Card. If you buy from Amazon or Whole Foods, this card is a must. You get 5% cash back on both, with no caps and no annual fee. You also earn 2% cash back at restaurants, gas stations and drugstores.
Cash Back Cards
There are two approaches to cash back cards. Either you carry one card with excellent rewards, or you carry multiple cards to get the most out of every purchase. The one card approach is simple, but doesn’t maximize your rewards. The multiple card approach is a bit of a hassle, but you get the most cash back.
If you want to maximize your cash, the Chase Freedom and Blue Cash Preferred® Card from American Express are two excellent options.
Here are details on these and other cash back credit cards.
Wells Fargo Cash Wise Visa® Card
- Welcome Offer: Earn $150 cash bonus after you spend $500 on purchases in the first 3 months from account opening.
- Cash Back: Earn 1.5% cash rewards on every purchase
- Cash Back Bonus: Earn 1.8% cash rewards on qualified mobile wallet purchases during the first 12 months from account opening
- Get up to $600 protection on your cell phone (subject to $25 deductible) against covered damage or theft when you pay your monthly cellular telephone bill with your Wells Fargo Cash Wise Visa® Card
- Intro APR: 0% Intro APR for 15 on purchases and balance transfers
- $0 Annual Fee
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Capital One® Quicksilver® Cash Rewards Credit Card
- Early Spend Bonus: $150 cash bonus after you spend $500 on purchases within 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase
- Intro APR: 0% intro APR on purchases and balance transfers for 15 months
- No annual fee
- No foreign transaction fees
Chase Freedom Unlimited
- Welcome Bonus: Earn $200 after you spend $500 on purchases in the first 3 months from account opening.
- Earn 5% cash back on grocery store purchases (not including Target or Walmart purchases) on up to $12,000 spent in the first year.
- Earn unlimited 1.5% cash back on all purchases
- Intro APR: 0% for 15 months from account opening on purchases
- Free credit score, updated weekly with Credit Journey
- No annual fee
Chase Freedom
- Signup Bonus: Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening
- 5% Cash Back: Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter
- 1% Cash Back: Earn 1% cash back on all other purchases
- Intro APR: 0% Intro APR for 15 months from account opening on purchases and balance transfers
- Free credit score, updated weekly with Credit Journey
- No annual fee
Capital One® QuicksilverOne® Cash Rewards Credit Card
- Cash Back: Earn 1.5% cash back on every purchase
- Get automatically considered for a higher credit line in as little as 6 months
- Free credit monitoring with the CreditWise® app
- $0 fraud liability if your card is ever lost or stolen
- Get customized alerts and manage your account with the Capital One mobile app
- $39 annual fee
Capital One® Savor® Cash Rewards Credit Card
- Early Spend Bonus: Earn $300 cash bonus after you spend $3,000 on purchases within the first 3 months
- 4% Cash Back: Earn 4% cash back on dining and entertainment
- 2% Cash Back: Earn 2% on groceries
- 1% Cash Back: Earn 1% on all other purchases
- Intro APR: 0% intro APR on purchases and balance transfers for 9 months
- $0 intro annual fee for the first year, $95 after that
- No foreign transaction fees
See also: Check out our complete list of cash back credit cards
Balance Transfer Credit Cards
Finding the best 0% card for balance transfers is primarily about the numbers. You want a 0% offer that lasts as long as possible. And to the extent available, you’d prefer not to pay a transfer fee.
Chase Freedom Unlimited
- Welcome Bonus: Earn $200 after you spend $500 on purchases in the first 3 months from account opening.
- Earn 5% cash back on grocery store purchases (not including Target or Walmart purchases) on up to $12,000 spent in the first year.
- Earn unlimited 1.5% cash back on all purchases
- Intro APR: 0% for 15 months from account opening on purchases
- Free credit score, updated weekly with Credit Journey
- No annual fee
Wells Fargo Cash Wise Visa® Card
- Welcome Offer: Earn $150 cash bonus after you spend $500 on purchases in the first 3 months from account opening.
- Cash Back: Earn 1.5% cash rewards on every purchase
- Cash Back Bonus: Earn 1.8% cash rewards on qualified mobile wallet purchases during the first 12 months from account opening
- Get up to $600 protection on your cell phone (subject to $25 deductible) against covered damage or theft when you pay your monthly cellular telephone bill with your Wells Fargo Cash Wise Visa® Card
- Intro APR: 0% Intro APR for 15 on purchases and balance transfers
- $0 Annual Fee
Chase Freedom
- Signup Bonus: Earn a $200 Bonus after you spend $500 on purchases in your first 3 months from account opening
- 5% Cash Back: Earn 5% cash back on up to $1,500 in combined purchases in bonus categories each quarter
- 1% Cash Back: Earn 1% cash back on all other purchases
- Intro APR: 0% Intro APR for 15 months from account opening on purchases and balance transfers
- Free credit score, updated weekly with Credit Journey
- No annual fee
Capital One® Quicksilver® Cash Rewards Credit Card
- Early Spend Bonus: $150 cash bonus after you spend $500 on purchases within 3 months from account opening
- Earn unlimited 1.5% cash back on every purchase
- Intro APR: 0% intro APR on purchases and balance transfers for 15 months
- No annual fee
- No foreign transaction fees
See also: A longer list of 0% credit cards
Travel Rewards Credit Cards
Travel cards represent a diverse universe of rewards. They include general travel rewards that are independent of a specific company, airline miles cards, hotel rewards cards, and even specialty cards. As such, it’s difficult to pick the “best” travel card. A lot will depend on how you use the card and how you travel.
With that said, here are our picks for 2019.
Capital One® Venture® Rewards Credit Card
- One-time Bonus: Earn 50,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $500 in travel
- Earn 2X miles on every purchase, every day.
- Earn 10X miles on thousands of hotels; learn more at hotels.com/venture, through January 2020
- Receive up to $100 application fee credit for Global Entry or TSA Pre?®
- Miles aren’t specific to any airline or hotel, so they can be used antwhere
- Travel when you want with no blackout dates
- Miles won’t expire for the life of the account
- No foreign transaction fees
- $0 intro annual fee for the first year; $95 after that
Chase Sapphire Preferred Card
- Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. These points are worth $750 in travel when you redeem through Chase Ultimate Rewards.
- 2X points on travel and dining at restaurants
- 1 point per dollar spent on all other purchases
- $0 foreign transaction fees
- 1:1 point transfer to leading frequent travel programs at full value
- $ Annual Fee
British Airways Visa Signature
- Signup Bonus: Earn 50,000 statement credit after you spend $3,000 on purchases in the first 3 months from account opening.50,000 statement credit after you spend $20,000 on purchases in the first 12 months from account opening..
- Welcome Offer #2: Earn an additional 50,000 bonus Avios after spending $20,000 within your first year of account opening.
- Each year you make $30,000 in purchases on your British Airways Visa card, you’ll earn a Travel Together Ticket good for two years.
- Earn 1 Avios for every $1 spent on all other purchases.
- Pay no foreign transaction fees when you travel abroad.
Marriott Bonvoy Business American Express Card
- Limited Time Offer: Earn [add_comma num=”signup_bonus” post_id=”35148″] bonus Marriott Bonvoy points after spending $[add_comma num=”signup_bonus_spend” post_id=”35148″] within the first 3 months
- Earn 6x points at participating Marriott Bonvoy hotels
- Earn 4x points at U.S. restaurants, U.S. gas stations, U.S. purchases on shipping, and wireless telephone services purchased from U.S. service providers
- Earn 2x points on all other eligible purchases
- Receive 1 Free Night Award each year after your Card account anniversary you can use at a participating hotel.
- Enjoy complimentary Marriott Bonvoy Silver Elite status.
- Earn Gold Elite status after spending $35,000 on eligible purchases on your card in a calendar year.
- Annual fee is $125
Marriott Bonvoy Boundless Credit Card
- Bonus Offer: Earn 75,000 bonus points after you spend $3,000 on purchases in the first 3 months from account opening..
- Earn a free night award (worth up to 35,000 points) every year after your account anniversary
- Earn 6X points at participating Marriott Bonvoy hotels
- Earn 2X Bonvoy points on all other purchasers
- Earn Silver Elite Status each account anniversary, path to Gold Status after users spend $35,000 each year
- Receive 15 Elite Night Credits granted each calendar year.
- Unlimited Marriott Bonvoy Points
- $95 Annual Fee