Best Credit Cards of June 2024

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Rebekah Brately
Contributor, Benzinga
June 4, 2024

The best credit card overall is the Chase Freedom Unlimited, thanks to its strong standard 1.5% cashback and bonus categories. It also has no annual fee and a welcome offer of up to $300.

Getting one of the best credit cards can help ensure you maximize rewards, enjoy unique perks, and access additional services, such as rental car insurance. However, not all credit cards are equal. Some charge an annual fee that reduces the card's value; others offer little reward value, and some limit how and where to use them. Do your research before applying, and use this list to help you find the best options.

Quick Look: The Best Credit Cards of 2024

Table of Contents

The Best Credit Cards

Here’s a look at the best credit cards of 2024, alongside their pros and cons, to help you find the best card for you based on your needs.

1. Best Overall: Chase Freedom Unlimited

When you want an all-around good card, you turn to Chase Freedom Unlimited. It has no annual fee, earns a minimum of 1.5% cashback with many categories that earn above that, no minimums to redeem cash back, and an intro APR of 0% for 15 months. Your cashback never expires as long as the card is open. The card is also great for travel rewards at 6.5% when you buy through Chase Travel. You’ll also get 4.5% cash back on drugstore purchases and 3% on delivery services. Get access to Chase Credit Journey to monitor your credit and alerts to ensure your financial well-being.

Pros

  • No annual fee
  • Higher than average standard rewards at 1.5% on everything
  • Easy rewards redemption can be made using a statement credit, bank deposit, gift card, etc.

Cons

  • 3% foreign transaction fee
  • You must have good to excellent credit to qualify (670-850)

Bonus Offer: Receive an additional 1.5% cash back on up to $20,000 in purchases in the first year, which can translate to as much as $300 cash back.

2. Best for Dining Perks and Rewards: Capital One SavorOne Cash Rewards

For those who hate cooking at home, the Capital One SavorOne Cash Rewards card offers perks to help you get the most out of that habit. This includes 8% cash back on Capital One Entertainment purchases. You’ll also enjoy 3% cash back on dining, other entertainment purchases, grocery stores, and eligible streaming services. The card has no fee and a 0% interest rate for 15 months.

Pros

  • Unlimited reward potential
  • No annual fee
  • No foreign transaction fees
  • Large cash-back categories without the need to sign up or activate them monthly, quarterly or annually like some cards

Cons

  • Minimal rewards on everyday purchases, such as gas and transit
  • Rival cards have more perks on top of reward categories

Bonus Offer: Spend $500 within the first three months and earn a $200 reward bonus.

3. Best for Standard 2% Cash Back: Wells Fargo Active Cash Card

All those variable cash-back categories take time to keep track of. When you want to earn rewards without choosing which card to pull from your wallet to maximize those rewards, get the Wells Fargo Active Cash Card for 2% rewards on everything. While you won’t have massive categories where you can earn 5% or more, the flat rate might balance out or come close to balancing out for you without all the extra work that some variable cash-back cards present. It is a very transparent card, which is ideal for those who don’t have time for fine print. 

Pros

  • Flat 2% cash back on everything
  • Cellphone protection when you use the card to pay your monthly bill
  • No spending caps on earning rewards
  • No minimum cash back is required to redeem

Cons

  • 3% foreign transaction fee
  • The only redemption option for rewards is cash
  • Total rewards with a flat-rate credit card might be lower than with variable cards

Bonus Offer: Spend $500 within the first three months and earn a $200 reward bonus.

4. Best for Higher Rewards on Everyday Spending Categories: Blue Cash Everyday Card from American Express

  • Blue Cash Everyday® Card From American Express
    Regular APR

    19.24% – 29.99% variable for purchases and balance transfers | See Rates & Fees 29.99% for cash advances.

    *Terms apply ** Be advised that applicants who do not have a credit history in the U.S. but have had credit cards or loans in Australia, Brazil, Canada, the Dominican Republic, India, Kenya, Mexico, Nigeria, Philippines, South Korea, Switzerland or the United Kingdom will need to provide a SSN or ITIN during the application process.

When you want a card that earns rewards on practical, everyday expenses, you’ll find it with this card. Earn 3% cash back on supermarkets, online retail purchases and gas stations. Those rewards can be redeemed for a statement credit or applied directly through your Amazon account on purchases. Enjoy extra perks on your Disney+, Hulu and ESPN bundle by getting a $7 monthly statement credit when you spend $9.99 or more on your subscription. And if you subscribe to Home Chef, you can earn another $15 per month back on your card.

Pros

  • Larger rewards on everyday purchases, including groceries, gas and online retail
  • Extra perks when you subscribe to certain subscription services
  • Balance transfer option with 0% APR for 15 months

Cons

  • Grocery, gas and online retail cashback is only on the first $6,000 you spend in each category, then 1% on all additional purchases
  • 2.7% foreign transaction fee

Bonus Offer: Spend $2,000 on the card in the first six months and earn an extra $200 in rewards.

5. Best for 21-month 0% APR on Balance Transfers: Citi Diamond Preferred Card

If you’ve found yourself in credit card debt and need a way to get out or quickly pay it down, this card with a 21-month 0% APR on balance transfers can help. You’ll need to complete the balance transfer within four months of opening the new card to get access to the offer, but the chance to pay down debt without accruing additional interest can be life-changing. The most significant setback to this card is that it does not earn rewards on purchases.

Pros

  • No annual fee
  • Mastercard ID Theft Protection for no additional fee
  • Get access to special event tickets through Citi Entertainment
  • Choose your monthly payment due date

Cons

  • A balance transfer fee of $5 or 5%, whichever is greater can add up when you’re trying to pay down debt
  • No rewards on purchases

Bonus Offer: For the first 12 months after opening the account, you will receive a 21-month 0% APR on balance transfers and 0% APR on new purchases.

6. Best for First Credit Card: Discover it Student Cash Back

Start building your credit with the Discover it Student Cash Back. The card has no annual fee and does not require a credit score to apply, though you’ll still need to meet specific creditworthiness criteria to be approved. View your FICO score in your Discover account each month to see your credit grow and the largest impacts on your credit. Refer your friends to earn additional rewards for you and your friend to increase your cash back.

Pros

  • Reward redemption options, such as PayPal, gift cards, Amazon and retail gift cards
  • Quarterly bonus cash-back categories earn 5% cash back
  • Does not require a credit score to apply

Cons

  • Bonus 5% cash back categories max out at $1,500 in purchases per quarter
  • You must activate bonus cash-back categories or you’ll get the standard 1%

Bonus Offer: Unlimited cash back match for your first year. 

7. Best for Fair Credit Card: Citi Custom Cash Card

Applicants with fair credit might qualify for the Citi Custom Cash Card. Eligible applicants can get approved for this card with a credit score as low as 580 if they meet other underwriting criteria. The card has a 15-month 0% APR on balance transfers and new purchases. Earn 5% cash back on your top eligible spend category each billing cycle. 

Pros

  • No annual fee
  • 5% cash back on $500 in purchases in your spend category

Cons

  • 5% cash back categories are capped at $500 in purchases per month
  • Includes foreign transaction fees
  • A balance transfer fee of 5% or $5, whichever is more

Bonus Offer: Earn $200 in cash back when you spend $1,500 using the card within six months of opening the account.

8. Best for Amazon Prime Members: Prime Visa

Amazon Prime members can earn 5% cash back on their purchases with the Prime Visa. This includes Amazon Fresh and Whole Foods Market. Plus, you can earn 5% back on Chase Travel purchases. You’ll also earn 2% on gas stations, restaurants and transit. Earn a flat 1% on everything else. One unique perk is that your cashback is added the next day after your purchase, allowing you to redeem it sooner without waiting for the next billing period.

Pros

  • Daily cashback rewards
  • Larger cashback rewards on eligible Amazon purchases for Prime members
  • Travel perks, including baggage delay insurance, lost luggage reimbursement, Roadside Dispatch, Travel Accident Insurance and more
  • Finance-eligible Amazon.com purchases using Amazon Pay for up to 12 months interest-free

Cons

  • Must be an Amazon Prime member to access the card and its benefits
  • Does not have a 0% APR intro offer
  • Minimal cash back on rewards outside of Amazon and its owned brands

Bonus Offer: Amazon Prime members get a $100 Amazon gift card upon opening the account.

9. Best for Travel Rewards: Chase Sapphire Preferred Card

When you want a travel credit card without being tied to only staying with specific hotel chains or flying one airline, go with the Chase Sapphire Preferred Card. You can redeem your rewards dollar for dollar with travel partners or enjoy an additional 25% in value when you use Chase Travel. Although the card has a $95 annual fee, it comes with $50 in statement credits for your Chase Travel bookings.

Pros

  • Offers bonus categories to help you earn travel rewards faster
  • Redeem your rewards in a variety of ways
  • Maximize benefits by using transfer partners

Cons

  • If you don’t travel often, the $95 annual fee likely won’t pay off
  • The card has no intro APR offer
  • To get the best deals, you’ll need to book your travel through Chase Travel

Bonus Offer: Bonus 75,000 points if you spend $4,000 in the first three months of opening the account.

10. Best for Secured Credit Card: Discover it Secured Credit Card

You can build or rebuild your credit using a secured credit card when you have no or abysmal credit. You’ll have as much credit as the money you put down as collateral. But then you can start earning rewards on your purchases while focusing on credit improvements and growth. Many secured credit cards offer minimal or no cash-back rewards, making this a unique opportunity. Once you reach a certain point with your credit, Discover will review your account to see if it can return your collateral deposit to you. The minimum credit line you can open is $200 and the maximum is $2,500.

Pros

  • No annual fee
  • Earn cash back despite this being a secured credit card
  • Review your free FICO credit score each month to review how you’re doing growing or establishing your credit
  • Discover matches all cash back you earn in the first year with no maximums

Cons

  • Secured cards have limited additional perks
  • You’ll need to have a deposit you feel comfortable putting down to open your line of credit
  • Discover caps quarterly 5% reward categories at $1,500 in spending; after that it’s the standard 1% cash back

Bonus Offer: Unlimited cash back match for your first year. 

How Do Credit Cards Work?

Having a credit card can make it simpler to complete both in-person and online purchases. You’ll use the card at checkout and, depending on the card you select, receive perks and potentially cash-back rewards. You’ll need to make the minimum payment on the card to avoid paying interest on your purchases, which can be as much as 29.99%.

How Do Credit Card Rewards Work?

Credit card rewards come in many types, but the basic idea is to spend and earn more. This gives you a higher incentive to spend while expecting to rack up returns. 

Types of Rewards

  • Cash Back: You earn a percentage of your spending back in cash, which you can redeem as a statement credit, direct deposit, or even a check.
  • Travel Miles: These cards offer points or miles redeemable for flights, hotels and other travel expenses. Frequent travelers can accumulate points for dream vacations or upgrades.
  • Points: These cards offer points that can be redeemed for various rewards, including travel, merchandise, gift cards, or even statement credits. Flexibility is the key here and you must research to ensure that the points can be redeemed for things that fit your lifestyle.

Tracking Credit Card Rewards

There are several ways to keep track of your credit card rewards. Most issuers can track and see on their app or dashboard. Otherwise, manually viewing it in your balance and recent activity is a way, too. It becomes pretty tedious if that’s the case. Still, all credit card companies have customer service through chat or a call that can give you your exact reward status (especially if you’re tracking your bonus offer points!) Regardless of your chosen method, understand your program's details, such as earning and redeeming points for the best value.

How Is Credit Card Interest Calculated?

Interest rates are calculated after a “grace period” on your statement. You won't be charged interest if you pay your statement balance in full monthly. However, if you carry anything over from your previous month’s statement, you'll be charged interest based on your card's annual interest rate, which is applied daily.

The interest rate is listed on your statement. For example, a 24% APR is about 0.066% per day on the remaining statement balance. At the end of each billing cycle, your issuer calculates the interest you owe based on your daily balances and adds this to your next month's minimum payment. Note that credit card interest does compound, but it doesn't get added to your daily balance until the first day of the next billing cycle, so you must keep a close eye.

Major Types Of Credit Cards — Which Is Best For You?

Rewards Credit Cards

Most people apply for credit cards that cater to their lifestyles. Our round-up of the best rewards credit cards guides you through the most currency bonus offers and various credit score requirements. 

Balance Transfer Credit Cards

Balance Transfer Credit Cards are considered quick fixes to debt as these cards offer a 0% introductory APR on transferred balances, allowing you to save on interest and pay down debt faster. The fees and rates aren’t low forever; with limited time, you have to make a financial plan to make sure not only to pay the minimum balance monthly but also to complete the whole balance before the 0% APR intro period is over. An important tip: avoid using the same card for any ongoing or new purchases, as this can lead to forgetting the initial balance transfer amount.

Low-interest and 0% APR Credit Cards

Most big credit card companies do not offer low-interest or 0% APR (unless balance transfer) cards. Low-interest cards usually do not have a 0% period like some very high-interest rate cards do. If you desire an actual low-interest card, your best option is to explore offerings from smaller banks or credit unions. You can check out our top picks for 0% APR credit cards in 2024 to find the best one.

Business Credit Cards

Business credit cards are great for small business owners or entrepreneurs looking to maximize their spending rewards. They offer specific benefits tailored to business owners' needs, such as higher credit limits, expense tracking tools for multiple employee cards, and niche rewards.

Credit Cards for Building Credit or Student Credit Cards

Receiving offers for good credit cards can be challenging, particularly for younger individuals with no credit history. Two types of credit cards are beneficial for establishing a solid credit score when lacking a credit history.

  • Credit-Builder Cards: These cards are perfect for beginners with no credit history. They often have lower limits and may require a security deposit, but responsible use builds a favorable credit profile.
  • Student Credit Cards are ideal for students with limited credit history. They offer features like rewards programs and reports to credit bureaus, helping you build credit while managing everyday expenses.

Depending on spending habits, these options are suitable for building credit!

How to Choose the Best Credit Card for You

  1. Be Financially Self-Aware: Look at your credit history and score to determine which credit card falls within your recommended range. Remember that each hard credit check affects your score, so make sure to only apply for credit cards you are preapproved for or have a high chance of being approved.
  1. Consider Your Spending Habits: Since opening credit cards will decrease your average credit card history, you want to ensure every card is opened with a purpose. Compare credit card features to hone in on specific usages for rewards, balance transfers, or building credit.
  1. Take Fees Into Consideration: Credit card companies use heavy fees to keep people in debt. Reading the fine print to ensure you are aware of credit card annual fees, late fees, and balance transfer fees is very important before making decisions. Consider the fees as monthly expenses to see if they are affordable.

How to Apply for a Credit Card

Applying for credit cards can be done in four easy steps:

  1. Review Credit Score and Check Offers: Review your credit score to establish a baseline, and check your banking apps for any prequalified offers.
  2. Research & Compare: Using your credit score, research cards that fit into that range and compare their rewards, usage, and fees to pick the best choice for your spending habit.
  3. Apply On Card Company Site: Preapproval is preferred; if not, apply to the credit card of choice and wait for the review process.
  4. Activate & Monitor: When the card arrives, activate it following the card instructions, and monitor spending to avoid incurring extra fees or accruing interest.

What's the Difference Between Visa and Mastercard?

While accepted worldwide, Visa and Mastercard have some essential differences that you should consider but might be optional. Mastercard has more international acceptance but more Visa credit cards are in circulation domestically and internationally. 

Both offer standard cards with similar features, but these perks can differ depending on the issuing bank. This means you can find cards with no annual fees, boosted rewards in specific categories, or even lower interest rates. While both are global payment giants, it is worth checking the details before choosing which card is right for you. Traditional Visas usually include roadside assistance, a nice perk, but you may also find it in a specific branded Mastercard.

What's the Best Credit Card Company?

The best credit card company will depend on your spending categories and habits. However, Visa and Mastercard are the most widely accepted credit card types and are readily available with various reward options and features to match your needs.

How Many Credit Cards Should You Have?

The number of credit cards you should have is based on your spending habits and ability to manage them. Having many credit cards means you should use only some of them. Too few also affect your credit score if you spend too much on just one. Read more about the advantages and disadvantages of having too many credit cards. 

Getting the Most from Everyday Purchases

Signing up for the best credit card offers can ensure you get the most benefit from your everyday purchases. Great perks include purchase protection, added insurance on purchases, and more. Review the best options and apply for the one that best matches your financial situation and creditworthiness

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About Rebekah Brately

Rebekah Brately is an investment writer passionate about helping people learn more about how to grow their wealth. She has more than 12 years of writing experience, focused on technology, travel, family and finance. Her work has been published in Benzinga, Hearst Bay Area, FreightWaves and Dallas Observer publications.