Credit cards may seem like just a small, thin, piece of plastic with numbers on it, but they are actually pretty powerful pieces of plastic. These cards allow cardholders access to borrowed money to pay for things.
The key here is that the borrowed money is repaid in the form of monthly payments. Also, every time a purchase is made with a credit card, interest is accrued on the amount of money borrowed.
A good thing about credit cards is that when used properly, where monthly statements are paid on time, they can actually build up your good credit history. Good credit history is almost a necessity when it comes to purchasing homes, cars or large purchases.
However, if you go looking for the perfect credit card, the first thing you may find is that there seems to be an endless number of cards available. Each card also offers different perks, rates, and other terms which makes choosing one hard to do.
Here are The Smart Investor Select’s picks for the best credit cards of 2024:
Card | Rewards | Bonus | Annual Fee | Best For |
| Discover it® Cash Back | 1-5%
5% cashback on up to $1,500 in rotating category purchases each quarter when you activate the bonus category (then 1%), as well 1% percent cash back on all other purchases
| Cashback Match
All cash back earned at the end of the first 12 months is matched.
| $0 | Rotating Categories |
|---|---|---|---|---|---|
| U.S. Bank Cash+ Visa Signature | 1% – 5%
5% cash back on purchases in two categories of your choice (up to $2,000 in combined purchases per quarter, then 1 percent). 5% back on prepaid air, hotel, and car reservations through the Rewards Center. 2% cash back on one choice everyday category. 1% back on all other purchases
| $200
Earn 125,000 Bonus Points after you spend $5,000 on purchases in your first 3 months from your account opening.
| $0 | Cashback and 0% Intro |
| Chase Freedom Unlimited® | 1.5% – 5%
5% cash back on travel booked through Chase Ultimate Rewards, 3% on dining (including takeout and eligible delivery), 3% on drugstore purchases, and 1.5% on all other purchases
| $250
Earn a $200 bonus after you spend $500 on purchases in the first 3 months from account opening.
| $0 | No Annual Fee |
| Blue Cash Preferred® Card from American Express | 1-6%
6% cash back at U.S. supermarkets (up to $6,000 per year in purchases, then 1%) and selected U.S. streaming subscriptions, 3% cash back on transit
and U.S. gas stations, 1% cash back on other purchases
| $250
$250 statement credit after you spend $3,000 in purchases on your new Card within the first 6 months
| $95 ($0 intro for the first year) (Rates & Fees) | Everyday Spending |
| Amazon Prime Rewards Visa Signature Card | 1-5%
5% back on Amazon.com, Amazon Fresh, Whole Foods Market, and Chase Travel purchases. Plus, you’ll get 2% back at gas stations, restaurants, and on local transit, and 1% on all other purchases
| $200
$200
| $0 ($139 Amazon Prime subscription required) | Amazon Shoppers |
| Chase Sapphire Preferred® Card | 2X – 5X
5x total points on travel purchased through Chase Travel, 3x points on dining, online grocery purchases and select streaming services. 2x on other travel purchases. Plus, earn 1 point per dollar spent on all other purchases.
| 60,000 points
60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening
| $95
| Value for Money |
| Citi® Double Cash Card | 1% – 2%
2% cash back rewards rate – 1% every time you swipe and another 1% upon payment.
| $200
$200 cash back after spending $1,500 on purchases in the first 6 months
| $0 | Flat Rate Cashback |
| Capital One Savor Cash Rewards Credit Card< | 1% – 4%
unlimited 4% cash back on dining, entertainment, and popular streaming services, 3% at grocery stores and 1% on all other purchases.
| $300
$300 cash bonus once you spend $3,000 on purchases within 3 months from account opening
| $95 | Welcome Bonus |
Chase Sapphire Preferred® Card
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The Chase Sapphire Preferred® Card, issued by Chase Bank, is a top choice for travel rewards. It's popular because of its generous sign-up bonus and strong focus on travel perks. You can earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening.
In the realm of travel and dining cards, the Chase Sapphire Preferred® Card secures the top spot by providing an elevated points structure compared to its counterparts.
It offers 5x total points on travel purchased through Chase Travel, 3x points on dining, online grocery purchases and select streaming services. 2x on other travel purchases. Plus, earn 1 point per dollar spent on all other purchases. .
If you Compare the Preferred vs the Reserve card, its travel rewards are fewer – but it make sense due to the difference in annual fee between the cards.
- Rewards Plan: 5x total points on travel purchased through Chase Travel, 3x points on dining, online grocery purchases and select streaming services. 2x on other travel purchases. Plus, earn 1 point per dollar spent on all other purchases.
- APR: 20.99% – 27.99% variable APR
- Annual fee: $95
- Balance Transfer Fee: 5% or $5, whichever is greater
- Foreign Transaction Fee: $0
- Sign Up bonus: 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening
- 0% APR Introductory Rate: N/A
- Point Sign-Up Bonus
- Bonus Points
- No Blackout Dates
- 25% More through Ultimate Chase Rewards
- No Foreign Transaction Fee
- $95 Annual Fee
- Low Merchandise Rewards
- No Introductory 0%
- Balance Transfer Fee – 5% or $5, whichever is greater
- Does the travel rewards points expire? Your points won’t expire once you keep the credit card account open.
- Does card Chase Sapphire Preferred offer pre-approval? Yes, you are able to pre-qualify for this card.
- What is the initial credit limit? The minimum credit limit that you can get with this card type is usually $5,000.
- How do I redeem cash back? You can redeem your points in a variety of ways through the Chase credit card reward portal. Some of the perks you can get include cash, travel credit, statement credit, and gift cards.
- What purchases don't earn cash back? All purchases will earn cashback through this card.
- Should You Move to Chase Sapphire Preferred card? If you travel frequently and do not want to pay a large annual fee.
- Why did the Chase deny me? You might not have met one of its requirements. You will usually find out where you fell short. You might be able to rectify the issue or you might have to look elsewhere.
- How hard is it to get a Chase Sapphire Preferred card? If you meet all of the requirements, then it is relatively straightforward to get a Chase Sapphire Preferred card. The requirements are easier compared to Chase Sapphire Reserve card.
- Is there a limit to rewards/cash back on the Chase Sapphire Preferred card? No limit
- Can I get car rental insurance with a Chase Sapphire Preferred card? how? Yes, you can get car rental insurance with this card if you decline the collision cover of the rental company and pay for the entire cost of the rental car with this card.
Discover it® Cash Back
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The Discover it® Cash Back is one of our favorites, mainly due to its high flexibility. This card offers a very high rewards rate on some categories that rotate every few months.
The card gives a 5% cashback on up to $1,500 in rotating category purchases each quarter when you activate the bonus category (then 1%), as well 1% percent cash back on all other purchases. This is one of the best cards for gas and groceries, and some of the categories include restaurant, online shopping and many more.
However, on all other purchases, excluding the ones in the category selected, you will only receive a 1% cashback. The Discover it® Cash Back also offers 15 months on purchases and balance transfers and a great sign up bonus.
This card is best for individuals who understand their spending habits and want to leverage the high reward rate the card offers, or those who plan a big purchase in the next couple of months.
- Rewards Plan: 5% cashback on up to $1,500 in rotating category purchases each quarter when you activate the bonus category (then 1%), as well 1% percent cash back on all other purchases
- APR: 18.74% – 27.74% Variable APR
- Annual fee: $0
- Balance Transfer Fee: 5%
- Foreign Transaction Fee: $0
- Sign Up bonus: All cash back earned at the end of the first 12 months is matched.
- 0% APR Introductory Rate period: 15 months on purchases and balance transfers
- 0% Intro APR Period
- High Cash Back for Select Spending Categories
- Matches Cash Back in the First 12 Months
- No Annual Fee
- Limit on Cash Back Spending Per Quarter
- Keeping Track of Bonus Categories
- Less Merchant Acceptance
- Balance Transfer Fee
- What are the cash-back rewards limit? There is a $1,500 cap on purchases each quarter that allows you to get the bonus cashback rates. Otherwise, no cap.
- Does Discover it Cash Back ask for proof of income? No out and out request for proof of income and no transparent income requirements.
- Does card rewards points expire? No expiry date for these points.
- Can I get pre-approved on card Discover it Cash Back? Yes, you can get pre-approval.
- What is the initial credit limit of card Discover it Cash Back Card? The minimum credit limit will be $300.
- How do I redeem cash back? You can get the rewards in the form of cash, statement credit, or gift cards.
- What purchases don't earn cash back ? All purchases will earn cashback.
- Should You Move to Discover it Cash Back Card? If you want to get good rewards from bonus categories and want access to a good signup offer.
- Why did Discover deny me? What to Do Next? You might not have met all of the requirements. You can enquire as to where your application fell short. If you cannot proceed, you can look at some of the other available options.
U.S. Bank Cash+ Visa Signature
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The U.S. Bank Cash+ Visa Signature Card is a Visa credit card provided by one of the largest banks in the United States.
By using the U.S. Bank Cash+ Visa Signature Card, you have the opportunity to accumulate 5% cash back on purchases in two categories of your choice (up to $2,000 in combined purchases per quarter, then 1 percent). 5% back on prepaid air, hotel, and car reservations through the Rewards Center. 2% cash back on one choice everyday category. 1% back on all other purchases.
Additionally, this card presents a generous sign-up bonus of Earn a $200 bonus after spending $1,000 within the first 90 days of account opening. Moreover, it offers a substantial 0% introductory rate for an extended period, and there is no annual fee associated with the card.
- APR: 19.49% – 29.74% (Variable)
- Annual fee: $0
- Balance Transfer Fee: $5 or 3%, the greater
- Foreign Transaction Fee: 3%
- Rewards Plan: 5% cash back on purchases in two categories of your choice (up to $2,000 in combined purchases per quarter, then 1 percent). 5% back on prepaid air, hotel, and car reservations through the Rewards Center. 2% cash back on one choice everyday category. 1% back on all other purchases
- Sign Up bonus: Earn a $200 bonus after spending $1,000 within the first 90 days of account opening
- 0% APR Introductory Rate period: 15 billing cycles on purchases and balance transfers
- Sign-Up Bonus
- Cash Back Rewards
- 0% APR Introductory
- No Minimums for Redemption
- Choose Spending Categories
- Restriction on Cash Bonuses
- Foreign Transaction Fee
- Balance Transfer Fee
- Opt in Every Quarter
- Visa Signature Card
What is the initial credit limit?
The starting credit limit for either of these cards can be as low as $1,000, but it is typically between $1,000 and $1,500 depending on a number of factors including your credit history, income and existing debt.
How much is 10,000 points worth?
The Cash+ reward system is easy to understand as you simply earn a percentage of your purchases as cash back.
What are the top reasons not to get the Cash+ card?
If you’re a keen traveler, you’re likely to be disappointed by the lack of travel rewards and redemption options. If you’re looking for a travel card, there are far better options, particularly if you have good to excellent credit.
What are the card income requirements?
You’ll need good to excellent credit for the Cash+. However, U.S Bank will consider your income when determining your initial credit limit upon approval.
Is there a cash back limit?
You can only earn 5% on $2,000 of combined purchases across the two categories each quarter. After this, the cash back rate will drop to the base 1%. However, there is no cap on the 2% category.
Chase Freedom Unlimited®
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