What’s the Best Credit Card for Me? Here’s How to Choose!

May 27, 2018 By Andrew Wan

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What’s the Best Credit Card for Me?

If you’re in the market for a new credit card and you’re having trouble deciding which to get, then this post is for you!

We know that choosing the next best credit card depends on your personal goals.  So, we’ve rounded up some of the top credit cards for a variety of situations.  Whether you have limited credit history, or you’re looking for cash back or travel rewards, there’s a card for you.

Whats The Best Credit Card For Me
Confused About What Card to Get? We’ve Rounded Up Over a Dozen Great Cards for a Variety of Situations!

I always recommend applying for the Chase cards first because of their 5/24 rule.  If you’ve opened 5 or more credit cards from ANY bank in the past 24 months (excluding certain small business cards and Chase business cards), Chase will NOT approve you for many of their best travel rewards credit cards.

Deciding on the Best Card for You

If you are just starting out with credit, it’s especially important to remember to always pay in full and on time.  Doing so will help you build a great credit score so that the next time you apply for loan, you can secure the best interest rate and potentially save thousands of dollars in interest over the life of the loan.

You can use sites like Bankrate to check your credit.  But keep in mind that your credit score is just one of several factors that may be used in determining whether you are approved for a card.

1.   Chase Sapphire Preferred

Link:   Apply for the Chase Sapphire Preferred

Link:   Our Review of the Chase Sapphire Preferred

According to many reports online, you’ll have a great chance of being approved for this card if you have a credit score over 720 and have NOT opened 5 or more credit cards in the past 24 months.  And the Chase Sapphire Preferred is the best travel card for beginners, because of the value and flexibility of its points!

The Chase Sapphire Preferred currently has a welcome bonus of 60,000 Chase Ultimate Rewards points.  That’s worth $600 in cash back, $750 if redeemed for travel through the Chase Travel Portal, and potentially even more if you transfer to any of Chase’s travel partners!

The card does have a $95 annual fee.

You’ll also get the following benefits which will come in very handy for travelers:

  • 2X Chase Ultimate Rewards points per $1 spent on travel and dining worldwide
  • 1X Chase Ultimate Rewards points per $1 spent on other purchases
  • Primary car rental insurance – Covers damage due to theft or collision to your rental car, when you pay for the rental with your card
  • Trip delay reimbursement – Get up to $500 back per ticket when your trip is delayed more than 12 hours
  • NO foreign transaction fees

2.   Chase Ink Business Preferred

Link:   Apply for the Chase Ink Business Preferred

Link:   Our Review of the Chase Ink Business Preferred

If you’re a small business owner, the Chase Ink Business Preferred is a card you should definitely consider!  It currently has an intro bonus of 80,000 Chase Ultimate Rewards points after spending $5,000 on purchases in the first 3 months.

That’s worth $800 in cash, or $1,000 in travel if redeemed through the Chase Travel Portal, and potentially even more if you transfer to any of Chase’s travel partners!

If you’ve opened 5 or more credit cards from ANY bank in the past 24 months (excluding certain small business cards and Chase business cards), Chase will NOT approve you for many of their best travel rewards credit cards, including the Chase Ink Business Preferred.

And while the card does have a $95 annual fee that is NOT waived for the first year, the welcome bonus and other additional perks from the credit card more than justify the cost.

With the Chase Ink Business Preferred, you’ll get the following perks:

  • 3X Chase Ultimate Rewards points for every $1 you spend on travel, shipping purchases, internet, cable and phone services, advertising purchases made with social media sites, and search engines (up to a maximum of $150,000 in combined purchases per account anniversary year)
  • 1X Chase Ultimate Rewards points on all other purchases
  • Up to $600 in cell phone insurance when you pay your cell phone bill with the card
  • 25% bonus when you redeem points through the Chase Ultimate Rewards travel portal
  • Primary auto rental insurance (CDW) when renting for business purposes, plus purchase and extended warranty protection
  • NO foreign transaction fees
Whats The Best Credit Card For Me
Hopefully You’ll Never Have to Deal With a Broken Phone, but If You Do, The Cell Phone Insurance on the Chase Ink Business Preferred Could Come In Handy!

As a small business owner myself who spends a good amount on phone and internet services, it’s a great feeling knowing I’m getting 3X points per $1 on those purchases.  And the $600 cell phone protection gives me peace of mind as well!  Team member Keith was able to use this perk when the screen on his cell phone shattered.

3.   American Express Platinum Credit Card

Link:   Apply for The Platinum® Card from American Express

Link:   Our Review of The Platinum® Card from American Express

If you travel a lot and love airport lounge access, the AMEX Platinum is another great card to consider especially if you are ineligible for Chase cards due to 5/24.  Similar to Chase Ultimate Rewards points, AMEX Membership Rewards points are also incredibly flexible, and you can transfer them to many partner airlines and hotels for incredible value.

Right now, you can earn a welcome bonus of 60,000 AMEX Membership Rewards points after making $5,000 in purchases in the first 3 months.  Check out our full review of the card to see exactly what you can do with 60,000 AMEX Membership Rewards points!

AMEX Platinum cardholders also get the following benefits:
Whats The Best Credit Card For Me
As an Amex Platinum Cardholder, You Can Enjoy a Nice Beverage Before Your Next Flight!

The card has a $550 annual fee, but given the value of the welcome bonus and the number of perks offered, it’s easy to offset this cost.

4.   American Express Business Platinum Credit Card

Link:   Apply for The Business Platinum® Card from American Express

Link:   Our Review of The Business Platinum® Card from American Express

For those who have big business expenses coming up, you might be able to take advantage of the AMEX Business Platinum’s up to 75,000 AMEX Membership Rewards point welcome bonus after meeting minimum spending requirements!

This is a tiered bonus, so you’ll earn the first 50,000 points after spending $10,000 on qualifying purchases in the first 3 months, and the remaining 25,000 bonus points after spending another $10,000 on qualifying purchases in the same 3-month timeframe.

Compared to the personal version, I prefer the AMEX Business Platinum.  The welcome bonus is more generous, but the annual fee is $595 (See Rates & Fees).  The card also comes with a number of travel perks, some of which are not available on the personal version:

5.   Chase Ink Business Cash

Link:   Apply for the Chase Ink Business Cash

Link:   Our Review of the Chase Ink Business Cash Credit Card

Small business owners looking for a great cash-back credit card with no annual fee should definitely consider the Chase Ink Business Cash credit card.

In fact, with no annual fee and a massive $500 (50,000 Chase Ultimate Rewards points) welcome bonus after spending $3,000 on purchases in the first 3 months, I think this is one of the best cards out there for business owners.

The Chase Ink Business Cash is subject to Chase’s 5/24 rule, so if you’ve opened 5 or more credit cards from ANY bank in the past 24 months (excluding certain small business cards and Chase business cards), Chase will likely NOT approve you.

The Chase Ink Business Cash credit card also comes with the following perks:

  • 5% cash back (5X Chase Ultimate Rewards points) on the first $25,000 spent in combined purchases at office supply stores and on phone, internet and cable TV services each account anniversary year
  • 2% cash back (2X Chase Ultimate Rewards points) on the first $25,000 spent in combined purchases at gas stations and restaurants each account anniversary year
  • 1% cash back (1X Chase Ultimate Rewards point) on all other purchases
  • Primary car rental insurance (CDW) when renting for business purposes, covering damage or theft to your rental car when you pay with your Chase Ink Cash card.  Secondary coverage when renting for personal reasons
  • NO annual fee
Whats The Best Credit Card For Me
Small Business Owners Who Spend a Lot On Internet, Phone, and Cable Services, Will Appreciate the 5% Cash Back On This Card!

And it’s also worth noting that the Chase Ink Business Cash and Chase Ink Business Preferred are considered separate products, so you can earn the bonus on both cards!

6.   Capital One Venture Rewards

Link:   Apply for the Capital One Venture Rewards Credit Card

Link:   Our Review of the Capital One Venture Rewards Credit Card

If you love to travel and just want straightforward travel rewards, the Capital One Venture Rewards Credit Card is a great card to carry!

The card currently has a welcome bonus of 50,000 Venture miles (worth $500 in travel) after spending $3,000 on purchases in the first 3 months.  AND the card’s annual fee of $95 is waived for the first year!

You’ll also get the following perks:

  • Earn 2 Venture miles per $1 spent on all purchases
  • No foreign transaction fees
  • Extended warranty – additional protection on eligible items, like computers, televisions, refrigerators, and washers and dryers
  • Rental car insurance – Secondary protection against collision or theft
  • Travel accident insurance – Up to $250,000 insurance for accidental loss of life, limb, sight, speech or hearing
  • Lost luggage insurance – Up to $3,000 per trip, provided the luggage was lost from theft or misdirection by the airline, cruise, etc.

And to redeem miles, Capital One offers 2 methods:

  • You can redeem for eligible past travel purchases using the Purchase Eraser.  Redemptions must be made within 90 days from the date the travel purchase posted to your account
  • You can also redeem for new travel reservations

Eligible travel purchases can include airlines, hotels, car rentals, taxis, time shares, and more.  So if you don’t want to bother with transferring miles to airline or hotel partners, the straightforward earning and redeeming on this card could be perfect for you!

7.   Capital One Spark Miles for Business

Link:   Apply for the Capital One Spark Miles for Business

Link:   Our Review of the Capital One Spark Miles for Business

The Capital One Spark Miles for Business credit card is essentially the business card version of the Capital One Venture cards.  Miles earned are flexible and can be used for a variety of travel-related purchases, such as airfare, hotels, taxis, and more.

The card currently has an intro bonus of 50,000 miles after spending $4,500 on purchases in the first 3 months.

And you’ll get the following:

  • 2X Spark miles per $1 you spend on all purchases
  • NO foreign transaction fees
  • $95 annual fee, waived the first year

Capital One is one of a few lenders who do report business credit cards to your personal report.  So if you have your eye on a few Chase cards, keep in mind that the Capital One business cards will add to your 5/24 count.

8.   Capital One Spark Cash for Business

Link:   Apply for the Capital One Spark Cash for Business

Link:   Our Review of the Capital One Spark Cash for Business

Business owners looking for a more straightforward rewards credit card might prefer the Capital One Spark Cash for Business.

The card currently has a welcome bonus of $500 after spending $4,500 on purchases in the first 3 months. The card also earns an unlimited 2% cash back on all purchases with no minimum to redeem!

Cardholders get the following:

  • 2% cash back on all purchases
  • NO foreign transaction fees
  • $95 annual fee, waived for the first year

The Capital One Spark Cash for Business is a business card, so you’ll have to be a small business owner to qualify.  And you may already have a business without realizing!  If you have any jobs outside your regular full-time employment that you do for profit (such as selling goods on eBay, driving for Lyft, or delivering food on Uber Eats), you could already have a business that could qualify you for this card.

9.   Capital One Savor Cash Rewards

Link:   Apply for the Capital One Savor Cash Rewards

Link:   Our Review of the Capital One Savor Cash Rewards Credit Card

 

Folks who eat out frequently will love the Capital One Savor Cash Rewards credit card!  This card is a nice simple cash back credit card that gives you a whopping 4% cash back on dining!

The card has a $95 annual fee (waived for the first year) and has a welcome bonus of $300 after spending $3,000 on purchases in the first 3 months.

Capital One also makes it very easy to redeem cash back, because you can request it in the form of a check or statement credit at any time with no minimums!

You’ll get:

  • 4% cash back on dining and entertainment
  • 2% cash back at grocery stores
  • 1% cash back on all other purchases
  • NO foreign transaction fees

According to Capital One’s guidelines on their website, you need excellent credit for this card, which means no bankruptcies, no defaults on loans, more than 3 years of credit history, and no 60-day late payments in the past 5 years.

Whats The Best Credit Card For Me
If You Eat Out Frequently, You Could Score Some Serious Cash Back With the Capital One Savor Cash Rewards Card

10.   AMEX Blue Cash Preferred

Link:   Apply for the Blue Cash Preferred® Card from American Express

Link:   Our Review of the Blue Cash Preferred® Card from American Express

Folks who spend a lot at US supermarkets and US gas stations can very quickly rack up cash back with the AMEX Blue Cash Preferred credit card.

With this card you’ll earn:

  • 6% cash back at US supermarkets (up to $6,000 per year, then 1%)
  • 6% cash back on select US streaming subscriptions
  • 3% cash back at US gas stations and on transit
  • 1% cash back on everything else
  • Terms and restrictions apply

The card does have an annual fee of $95 which is NOT waived the first year (See Rates & Fees).  BUT there is also an intro bonus of $250 cash back after spending $1,000 on purchases in the first 3 months.  And when you consider the high percentage of cash back you can get on supermarkets, gas stations, and transit, it should be fairly easy to recuperate the cost of the annual fee.

Note that this card DOES have foreign transaction fees though (See Rates & Fees), so it’s not a good card to use overseas.

You’ll also get a number of additional benefits, such as:

  • Secondary rental car insurance covering damages due to theft or collision
  • Roadside assistance offering emergency services like towing, changing a flat tire, or boosting a battery
  • Extended warranty for up to one (1) additional year on eligible products
  • Free 2-day shipping from over 140 online stores with a complimentary ShopRunner membership

Personally, I love the level of service and benefits I get from my AMEX cards.  I took advantage of the extended warranty program to replace a faulty keyboard on my out-of-warranty laptop several years ago.  Between the labor fees and charges for the replacement keyboard, the AMEX extended warranty perk saved me a few hundred dollars!

Whats The Best Credit Card For Me
AMEX’s Extended Warranty Saved Me a Few Hundred Dollars When I Needed to Repair My Out-Of-Warranty Laptop

11.   Citi Double Cash

Link:   Apply for the Citi Double Cash

Link:   Our Review of the Citi Double Cash Card

If you’re looking for a straightforward cash back credit card, the Citi Double Cash is a great card to consider.  And with no annual fee, it won’t cost you anything to keep this card in your wallet!

With this card you’ll get:

  • 2% cash back – 1% cash back on all purchases you make and an additional 1% when you pay for those purchases
  • Credit card late fee pass – Citi will give you a pass on your first late fee!

You can redeem cash back once you’ve hit the $25 minimum rewards balance, as a check, statement credit, or a credit to your linked Citi savings or checking account, or to a checking account from which you have paid a Citi credit card bill at least 2 times.

You’ll want to make sure you keep this card active, because the cash back expires if there is no activity on the card for 12 months.  And it has a 3% foreign transaction fee, so I wouldn’t recommend using it for overseas trips.

Whats The Best Credit Card For Me
Talk About an Incentive for Not Being Late on Your Payments – With the Citi Double Cash, You Get 1% on All Purchases, Plus an Additional 1% When You Pay On Time!

12.   Capital One Platinum

Link:   Apply for the Capital One Platinum Credit Card

Link:   Our Review of the Capital One Platinum Credit Card

If you have a limited credit history and you’re finding it difficult to get approved for other cards, the Capital One Platinum Credit Card could be useful for building your credit.

The card has no rewards for your everyday spending, but it also has no annual fee.  So it won’t cost you anything to carry the card in your wallet as you continue to build a great credit score!

You’ll also have the option of upgrading to an eligible rewards card, like the Capital One Quicksilver Cash Rewards Credit Card, so there is incentive to remember to make all the payments on time as this card will grow with you!

You’ll also get the following perks:

  • Access to a higher credit line after making your first 5 monthly payments on time
  • Extended warranty – additional warranty protection on eligible items purchased with the card
  • Price protection – reimburses you the difference in price on eligible items if you find a lower price for that same item within 60 days
  • 24-hour roadside assistance
  • NO foreign transaction fees
Whats The Best Credit Card For Me
Worried You Might Not Be Getting The Best Deal? With Capital One’s Price Protection, You’ll Be Reimbursed The Difference If The Price on an Eligible Item Drops Within 60 Days!

13.   Capital One QuicksilverOne Cash Rewards

Link:   Apply for the Capital One QuicksilverOne Cash Rewards Credit Card

Link:   Our Review of the Capital One QuicksilverOne Cash Rewards Credit Card

The Capital One QuicksilverOne Cash Rewards Credit Card is a great card to consider if you have a limited credit history, but would also like to earn rewards for your everyday purchases.

The card gives you 1.5% cash back on all purchases, but it has an annual fee of $39.  So if you do decide on this card, just make sure that you use it enough to offset the cost of the annual fee.  The best way to do that is to use it actively for your everyday purchases.

It’s also very easy to redeem the cash back on this card because you can request a check or statement credit at any time with no minimum redemption amount.

And you’ll get the following benefits:

  • No foreign transaction fees
  • Price protection – get reimbursed the difference if the price drops on eligible items within 60 days
  • Travel accident insurance – automatic insurance for death or dismemberment when you use the card to purchase your fare
  • Extended warranty – additional warranty protection on eligible items purchased with the card
  • 24/7 roadside assistance

Bottom Line

The next best credit card for you will depend on your personal situation and goals.

We’ve rounded up over a dozen cards for a wide variety of situations, so even if you have limited credit, want travel rewards, or prefer a simple cash back card, there will be a card for you:

Do you have a favorite card that didn’t make the list?  Let us know in the comments!

For rates and fees of the Amex Platinum card, please click here. For rates and fees of the Amex Business Platinum card, please click here. For rates and fees of the Blue Cash Preferred Card, please click here.

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