Having good credit opens doors to a world of financial opportunities, and choosing the right credit card is a crucial step. This article will guide you through the best credit card options available in 2024 for those with good credit, helping you maximize rewards and benefits.
A credit card is more than just a payment method; it's a tool that can enhance your financial life when used responsibly. Selecting the right credit card for your spending habits and financial goals can lead to significant rewards, travel perks, and other valuable benefits.
| Credit Card | Key Features | Rewards & Benefits |
|---|---|---|
| Chase Sapphire Preferred® Card | Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. | 5x on travel purchased through Chase Ultimate Rewards®, 3x on dining, 2x on travel & 1x on all other purchases. No foreign transaction fees. |
| American Express® Blue Cash Preferred® Card | Earn a $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months. | 6% Cash Back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%), 6% Cash Back on select U.S. streaming subscriptions, 3% Cash Back at U.S. gas stations and transit, 1% Cash Back on other purchases. |
| Capital One Venture Rewards Credit Card | Earn 75,000 bonus miles once you spend $4,000 on purchases within 3 months from account opening. | 2x miles on every purchase, every day; 5x miles on hotels and rental cars booked through Capital One Travel. No foreign transaction fees. |
| Citi® Double Cash Card | No introductory bonus. | 2% cash back on every purchase (1% when you buy, 1% when you pay). |
| Discover it® Cash Back | Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match. | 5% cash back on rotating categories each quarter (up to quarterly maximum), 1% cash back on all other purchases. |
| Wells Fargo Active Cash® Card | Earn a $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months. | 2% cash rewards on purchases. |
| Bank of America® Customized Cash Rewards Credit Card | $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening. | 3% cash back in a category of your choice, 2% cash back at grocery stores and wholesale clubs (on up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases), 1% cash back on all other purchases. |
Detailed Explanations
Chase Sapphire Preferred® Card
The Chase Sapphire Preferred® Card is a popular choice for those seeking valuable travel rewards. It offers a substantial sign-up bonus and generous rewards on travel and dining, making it an excellent option for frequent travelers and food enthusiasts. The Ultimate Rewards program provides flexibility in redeeming points for travel, cash back, or gift cards.
Key Features:
- Sign-Up Bonus: Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. This is a significant head start towards your rewards goals.
- Rewards Rate: Earn 5x points on travel purchased through Chase Ultimate Rewards®, 3x points on dining, 2x points on travel & 1x points on all other purchases. These rates are very competitive, especially for travel and dining.
- Redemption Options: Points can be redeemed for travel through Chase Ultimate Rewards®, cash back, gift cards, or transferred to airline and hotel partners. This provides flexibility in how you use your rewards.
- Annual Fee: $95. While there is an annual fee, the value of the rewards and benefits often outweighs the cost for frequent travelers and diners.
- No Foreign Transaction Fees: This card does not charge foreign transaction fees, making it ideal for international travel.
American Express® Blue Cash Preferred® Card
The American Express® Blue Cash Preferred® Card stands out for its high cash back rates on everyday spending categories. It’s particularly rewarding for families and individuals who spend a significant amount on groceries, gas, and streaming services.
Key Features:
- Sign-Up Bonus: Earn a $250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months.
- Rewards Rate: Earn 6% Cash Back at U.S. supermarkets (on up to $6,000 per year in purchases, then 1%), 6% Cash Back on select U.S. streaming subscriptions, 3% Cash Back at U.S. gas stations and transit, 1% Cash Back on other purchases. These rates are among the highest available for these categories.
- Annual Fee: $95. The high cash back rates can easily offset the annual fee for those who spend in the bonus categories.
- Amex Offers: Access to Amex Offers, which provide additional savings and rewards at various merchants.
Capital One Venture Rewards Credit Card
The Capital One Venture Rewards Credit Card is a versatile option for those who want simple and straightforward rewards on all purchases. It offers a flat rewards rate and a generous sign-up bonus, making it easy to earn miles that can be redeemed for travel.
Key Features:
- Sign-Up Bonus: Earn 75,000 bonus miles once you spend $4,000 on purchases within 3 months from account opening.
- Rewards Rate: Earn 2x miles on every purchase, every day; 5x miles on hotels and rental cars booked through Capital One Travel.
- Redemption Options: Miles can be redeemed for travel, cash back, or gift cards.
- Annual Fee: $95. The flat rewards rate and generous sign-up bonus make this card a good value for many users.
- No Foreign Transaction Fees: This card does not charge foreign transaction fees, making it suitable for international travel.
Citi® Double Cash Card
The Citi® Double Cash Card is a popular choice for its simple and straightforward cash back rewards. It offers a high cash back rate on all purchases, making it a great option for those who want to maximize their rewards without having to track spending categories.
Key Features:
- Rewards Rate: 2% cash back on every purchase (1% when you buy, 1% when you pay). This is a very competitive flat cash back rate.
- No Annual Fee: This card has no annual fee, making it a cost-effective option.
- Simplicity: The straightforward rewards structure makes it easy to earn and redeem cash back.
Discover it® Cash Back
The Discover it® Cash Back card is known for its rotating bonus categories and cashback match for new cardholders. This card is a good choice for those who enjoy tracking spending categories and maximizing their rewards.
Key Features:
- Cashback Match: Discover will automatically match all the cash back you’ve earned at the end of your first year! There’s no minimum spending or maximum rewards. Just a dollar-for-dollar match.
- Rewards Rate: 5% cash back on rotating categories each quarter (up to quarterly maximum), 1% cash back on all other purchases. The rotating categories can provide significant rewards if you align your spending with the bonus categories.
- No Annual Fee: This card has no annual fee, making it a low-risk option for earning rewards.
- Credit Score Tracking: Free access to your credit score.
Wells Fargo Active Cash® Card
The Wells Fargo Active Cash® Card offers a straightforward cash rewards program with a decent sign-up bonus. It’s a solid option for those who want a simple way to earn cash back on all purchases.
Key Features:
- Sign-Up Bonus: Earn a $200 cash rewards bonus after spending $1,000 in purchases in the first 3 months.
- Rewards Rate: 2% cash rewards on purchases.
- No Annual Fee: This card has no annual fee, making it an accessible option.
Bank of America® Customized Cash Rewards Credit Card
The Bank of America® Customized Cash Rewards Credit Card offers flexibility in choosing your bonus category, allowing you to tailor your rewards to your spending habits. This card is a good option for those who want to maximize their rewards in a specific category.
Key Features:
- Sign-Up Bonus: $200 online cash rewards bonus after you make at least $1,000 in purchases in the first 90 days of account opening.
- Rewards Rate: 3% cash back in a category of your choice, 2% cash back at grocery stores and wholesale clubs (on up to $2,500 in combined choice category/grocery store/wholesale club quarterly purchases), 1% cash back on all other purchases. The ability to choose your bonus category provides flexibility in maximizing rewards.
- No Annual Fee: This card has no annual fee.
- Bank of America Preferred Rewards: If you're a Bank of America Preferred Rewards member, you can earn even more cash back.
Frequently Asked Questions
What credit score is considered good? A credit score between 670 and 739 is generally considered good.
How can I improve my credit score? Pay your bills on time, keep your credit utilization low, and avoid opening too many new accounts at once.
What is a sign-up bonus? A sign-up bonus is an incentive offered by credit card issuers to encourage new customers to apply for a card and typically require a spending minimum within a specific timeframe.
What is an annual fee? An annual fee is a yearly charge that some credit cards impose on cardholders.
What are foreign transaction fees? Foreign transaction fees are charges applied when you make purchases in a foreign currency or outside of your home country.
What is APR? APR stands for Annual Percentage Rate, which is the interest rate charged on outstanding balances.
What is credit utilization? Credit utilization is the amount of credit you're using compared to your total available credit.
How do I choose the right credit card for me? Consider your spending habits, desired rewards, and any fees associated with the card to make the best choice for your needs.
Can I transfer my credit card balance to a new card? Yes, many credit cards offer balance transfer options, which can help you consolidate debt and potentially lower your interest rate.
What is the difference between cash back and rewards points? Cash back provides a direct return of a percentage of your spending, while rewards points can be redeemed for travel, merchandise, or other benefits.
Conclusion
Choosing the best credit card with good credit depends on your individual spending habits and financial goals. Cards like the Chase Sapphire Preferred® Card are excellent for travel rewards, while the American Express® Blue Cash Preferred® Card excels in cash back on everyday purchases. Consider which rewards align best with your lifestyle and prioritize cards with no foreign transaction fees if you travel internationally.