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The Ascent's shortlist of the best credit cards for 2022 contains the market-leading picks. They include perks, such as lucrative rewards programs, big sign-up bonuses, long 0% intro APR offers to avoid interest, and no annual fees.
Add up the value of these benefits and it's not uncommon for the top credit cards to pack in upwards of $1,000 in value. Whether you're looking for a rewards card, a balance transfer card, a business credit card, a secured card to help you build credit, or simply a good credit card offer, there's a card out there for everyone.
To help you navigate the market, our experts crunched the numbers on hundreds of credit cards and included only our select few top picks below. Read on to learn more about the best credit card offers that we would recommend to our closest friends and family.
| Card | Rating | Great For |
|---|---|---|
 BEST OF 2022 |
Rating image, 5.00 out of 5 stars.
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Great For: Unlimited cash back |
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Rating image, 5.00 out of 5 stars.
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Great For: Bonus category cash back |
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BEST OF 2022 |
Rating image, 4.50 out of 5 stars.
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Great For: Travel sign up bonus |
|
Rating image, 5.00 out of 5 stars.
|
Great For: Unlimited cash back |
|
|
BEST OF 2022
Terms apply
|
Rating image, 5.00 out of 5 stars.
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Great For: U.S. supermarkets and U.S. gas |
|
Rating image, 5.00 out of 5 stars.
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Great For: Balance transfers |
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BEST OF 2022 |
Rating image, 5.00 out of 5 stars.
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Great For: Long 0% intro APR offer |
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Rating image, 4.50 out of 5 stars.
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Great For: Long 0% intro APR offer |
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Rating image, 4.50 out of 5 stars.
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Great For: 0% intro APR offer |
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Rating image, 4.50 out of 5 stars.
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Great For: Dining rewards with no annual fee |
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Rating image, 4.00 out of 5 stars.
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Great For: Cash back versatility |
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BEST OF 2022 |
Rating image, 5.00 out of 5 stars.
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Great For: Bad credit |
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BEST OF 2022 |
Rating image, 4.50 out of 5 stars.
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Great For: Students |
BEST OF 2022Great for: Unlimited cash back
On Wells Fargo's Secure Website.
On Wells Fargo's Secure Website.
A standout cash back card with one of the highest unlimited rewards rates we've come across. The inclusion of a hefty sign-up bonus and versatile 0% intro APR offer are the cherries on top. Read Full Review
Great for: Bonus category cash back
On Discover's Secure Website.
On Discover's Secure Website.
Includes a robust rewards program and rich sign-up bonus offer that has unlimited upside. Somehow this card also packs in a great intro APR offer for no annual fee. Read Full Review
BEST OF 2022Chase Sapphire Preferred® Card
Great for: Travel sign up bonus
On Chase's Secure Website.
On Chase's Secure Website.
With a big sign-up bonus, the sky’s the limit for this top-rated travel rewards card. Plus, the premium points program for travel and dining make it a no brainer for travel enthusiasts everywhere. Read Full Review
Great for: Unlimited cash back
On Chase's Secure Website.
On Chase's Secure Website.
This card includes a lineup of features that makes it a great option for one-card-wallet simplicity. The unlimited cash back makes it easy to earn rewards. The sign-up bonus and long 0% intro APR offer are the cherries on top. Read Full Review
BEST OF 2022Blue Cash Preferred® Card from American Express
Great for: U.S. supermarkets and U.S. gas
The U.S. supermarkets and U.S. gas stations rewards are clear standouts, in addition to a big welcome bonus and a nice 0% intro APR offer. Read Full Review
Great for: Balance transfers
On Discover's Secure Website.
On Discover's Secure Website.
Get the best of both balance transfer and cash back worlds with this card. Not only do you get a great intro APR on balance transfers, but you also get a rich cash back program. Read Full Review
BEST OF 2022Great for: Long 0% intro APR offer
On Wells Fargo's Secure Website.
On Wells Fargo's Secure Website.
A clear leader with a 0% intro APR offer that is among the longest we've come across. The card also includes an innovative intro APR extension with on-time payments. Read Full Review
Great for: Long 0% intro APR offer
On U.S. Bank's Secure Website.
On U.S. Bank's Secure Website.
With a 20 billing cycle intro APR offer for both balance transfers and purchases, this is one of the best low interest credit cards we've come across. Read Full Review
Great for: 0% intro APR offer
On Citi's Secure Website.
On Citi's Secure Website.
Intro APR
Purchases: 0%, 12 months
Balance Transfers: 0%, 21 months
Regular APR
13.74% - 23.74%, variable
Rewards
N/A
Annual Fee
$0
Welcome Bonus
N/A
A hard-to-beat 0% intro APR credit that's a fit for cardholders wanting to pay off debt faster with balance transfer strategies and/or finance the cost of a purchase and temporarily avoid costly interest charges. Read Full Review
Capital One SavorOne Cash Rewards Credit Card
Great for: Dining rewards with no annual fee
On Capital One's Secure Website.
On Capital One's Secure Website.
Dining and grocery spending will earn premium rewards, but that's not the only showstopper. The sign-up bonus, no annual fee, and a 0% intro APR offer can add a ton of value. Read Full Review
U.S. Bank Cash+™ Visa Signature® Card
Great for: Cash back versatility
The high cash back rate, sign-up bonus, and flexibility to choose what purchases earn bonus cash back make this a compelling offer. All the better that there's no annual fee.
BEST OF 2022Discover it® Secured Credit Card
Great for: Bad credit
On Discover's Secure Website.
On Discover's Secure Website.
This card is a great place to start when building your credit history. It offers perks rarely found in secured cards, including cash back, no annual fee, and Discover's innovative sign-up bonus. Read Full Review
BEST OF 2022Bank of America® Customized Cash Rewards Credit Card for Students
Great for: Students
This student credit card has it all. You'll have a hard time finding a student card with a cash back program this lucrative to go along with a sign-up bonus. Read Full Review
A credit card can be one of your most valuable financial tools -- if used correctly. When you know the right moves to make, you can maximize cash rewards or travel rewards, avoid decades of debt, and protect your credit score. Our credit card guide could help you learn these important skills -- or maybe even find your next favorite card.
A credit card allows you to pay for purchases by borrowing money. The maximum amount you can borrow at one time is called your credit limit. The money you've already borrowed is your balance, and the amount you have left to borrow is your available credit.
At the end of each billing cycle, the card issuer will send you a statement listing the transactions you made. It will list your total balance, as well as the minimum payment due during that billing cycle. You must pay at least the minimum amount by the due date to avoid a late fee -- although it's a good idea to pay more than the minimum if you can afford it.
Credit cards are most often used for purchases, but many of them can also be used for other types of transactions, such as cash advances and balance transfers.
Credit card interest is the fee a card issuer can charge when you borrow money with your credit card. The amount of interest charged depends on the card's annual percentage rate (APR). Many credit cards have different APRs for purchases, balance transfers, and cash advances. Most credit cards have a variable APR. A variable APR is an interest rate that can change over time.
The type of transaction also determines when your card issuer starts charging you interest. For example, cash advances almost always start racking up interest immediately. Purchases are different. Just about any top-rated credit card will only charge interest for purchases that aren't paid off by the payment due date. Savvy consumers take advantage of this, pay in full, and never have to deal with credit card interest.
TIP
Credit card interest is one of those unnecessary charges that you should do your best to avoid. There are two ways to accomplish this.
Pay off balances by the due date: The simplest option is to only use your credit card for purchases you can afford. Pay the entire statement balance on or before the due date. If you do this every billing cycle, you'll never end up with any interest charges.
Get a 0% intro APR credit card: With these credit card offers, you'll pay zero interest for the entire intro period. A 0% intro APR can apply to purchases, balance transfers, or both, so make sure you choose the right one. The APR will go up after the card's intro period ends -- it's important to pay off your balance by then.
Though there are many different types of credit cards, they all fall into certain categories based on their features and rewards programs. Here are the different types of credit cards and the best credit cards and credit card deals right now within each category.
With travel cards, you can redeem your points or miles for free or discounted travel. There are also quite a few top travel credit cards that offer extra travel perks, such as free access to airport lounges, hotel upgrades, and travel insurance. An airline credit card, hotel credit card, and general travel credit card would all fall under this category.
Compare more picks: Check out The Ascent's best travel rewards credit cards
This category includes every credit card that earns purchase rewards. With so many cards to choose from, you'll find a diverse mix of rewards credit cards that earn cash back, travel points, and store rewards.
Compare more picks: Check out The Ascent's best rewards credit cards
With this type of rewards card, you earn rewards that can be redeemed as cash or a statement credit. Depending on the card, you may be able to redeem your cash back as a statement credit towards your credit card balance, a deposit to a bank account, or as a check. You'll find cards that earn the same flat rate on purchases as well as cards that earn extra in bonus categories among the best cash back cards.
Compare more picks: Check out The Ascent's best cash back credit cards
This type of card offers a lower, introductory APR on balance transfers. Many of the top balance transfer cards have a 0% intro APR on balance transfers and intro periods can last for well over a year. If you want to refinance credit card debt and save money on interest, a balance transfer card is ideal.
Compare more picks: Check out The Ascent's best balance transfer credit cards
The best credit cards for beginners accept applicants with no credit history, don't charge unnecessary fees, and have educational features to help you improve your credit, such as free credit score monitoring. For those who are enrolled at college or university, student credit cards are a great first step into the world of credit.
Compare more picks: Check out The Ascent's best starter credit cards
Some credit cards tend to offer higher credit limits than most. These high limit credit cards let you spend more, and they can also help you protect your credit by making it easier to keep your credit utilization ratio low. You typically need excellent credit to qualify.
Compare more picks: Check out The Ascent's best high limit credit cards
Cards in this category have a 0% intro APR that applies to purchases. They're a smart choice if you need to buy something expensive, but you can't afford to pay in full upfront. The most popular 0% intro APR credit cards also often have those intro deals for a year or longer.
Compare more picks: Check out The Ascent's best 0% intro APR credit cards
You need to pay a security deposit to open a secured credit card, which is typically used for rebuilding or building credit. The security deposit is often (but not always) equal to your starting credit limit. High-quality secured credit cards can usually graduate to unsecured cards, meaning you get your deposit back if you make enough on-time payments.
Discover it® Secured Credit Card: A lucrative rewards program plus Discover matches all the cash back earned in the first year.
Compare more picks: Check out The Ascent's best secured credit cards
Looking to rebuild credit?: Check out The Ascent's best credit cards for bad credit
If you're in college, you can get started on building your credit with a student credit card. Even though these cards are for students, there are some excellent perks to be found with the best student credit cards. Some cards include free credit score tracking and money back for good grades.
Bank of America® Customized Cash Rewards Credit Card for Students: A rare student credit card pick with a long 0% Intro APR, big sign-up bonus, and rich rewards program.
Compare more picks: Check out The Ascent's best student credit cards
Business credit cards are designed with business owners in mind. These cards usually offer higher credit limits than consumer credit cards to accommodate business spending. Many of them also have bonus categories to fit typical business spending habits. For example, a business card may offer bonus rewards on advertising, shipping, or office supply store purchases.
In addition, a business card can help you build your business credit score. Just like your own credit score is a rating of your personal creditworthiness, businesses have credit scores that rate their creditworthiness. By using a business credit card and paying on time, you can raise your business credit score. That can help you qualify for business financing in the future.
Your business doesn't need to be a separate entity to qualify for a business credit card. It's possible to open a business credit card with a sole proprietorship. No matter what type of business you have, it's smart to compare offers.
Compare more picks: Check out The Ascent's best business credit cards
Want cashback on business purchases? Check out The Ascent's Amex Blue Business Plus Card review.
Many chain stores, from Macy's to Target to Lowe's, offer their own credit cards. Sometimes these credit cards are accepted everywhere, but often they're only for use in-store. Store credit cards usually come with exclusive discounts and rewards that can only be used at that store. Make sure to read the fine print on any 0% intro APR offers from store credit cards, as they can involve deferred interest, which is tricky and can lead to hefty surprise interest charges.
Compare more picks: Check out The Ascent's guide to store credit cards.
Check out the video below to learn how to pick the best store credit card for your needs.
Although a credit card isn't a necessity, there are several ways it can help you financially:
Compare credit card bonuses, rewards, fees and more using our side-by-side comparison tool.
Your credit score plays a large role in which credit cards you can get. If you have a low credit score and you work on raising it, that will open up more credit card options for you.
Here's the best advice you can follow to improve your credit score.
You're legally entitled to a free annual credit report from each credit bureau (Equifax, Experian, and TransUnion). Go to AnnualCreditReport.com to request it.
Once you have your credit reports, review them for errors that could be damaging your credit score. If you find any errors, visit the website of the credit bureau that issued the report to file a dispute.
The easiest way to improve your credit is by using a credit card and paying the bill on time. If you don't have a credit card, look for cards aimed at consumers in your position.
Starter credit cards are ideal if you don't have much credit history yet. If you're rebuilding credit from issues on your credit history, then secured credit cards are the most suitable option.
The amount of your credit that you use impacts your credit score. Say you have a card with a $1,000 credit limit. If the balance is $500, that would put your credit utilization ratio at 50%.
A lower credit utilization helps your credit score. As a rule of thumb, aim to stay under 30% credit utilization at all times. It's good for your credit, and as an added perk, it helps you stay out of credit card debt.
Learn your credit card's due date and always make your payment on time or early. Each on-time payment improves your payment history, which is the biggest factor in your credit score. You may want to set automatic payments so you don't miss any.
It's also recommended that you pay off your credit card every month. While this isn't necessary for your credit score, it's a way to avoid interest charges on your credit card purchases.
The right number of credit cards for most people is one. That's particularly important for cardholders using credit cards for rewards, since the juice may not always be worth the squeeze when carrying multiple cards and using each to optimize rewards for each spending category. It's even more true for cardholders carrying debt. The best credit cards help you earn big on your everyday purchases while avoiding fees.
But this isn't necessarily the right mantra for everyone. There's no doubt that savvy cardholders carrying multiple cards can wring out a good amount of value. With the right strategy and a financial discipline, having a few of the best cards for different uses can be worthwhile.
You should stick to one credit card if:
You should carry multiple credit cards if you want more card benefits and you're confident in your ability to manage everything. There are some big advantages to having multiple cards:
The best credit card for most people is the Wells Fargo Active Cash℠ Card. It earns a 2% cash back rate on purchases, making it one of the most lucrative and flexible credit cards. This card also has a $0 annual fee, a generous sign-up bonus, and a lengthy 0% intro APR offer.
Every consumer has different spending habits and needs in a credit card. The best credit card to have will depend on your unique situation.
We've chosen the Wells Fargo Active Cash℠ Card as the best credit card of 2022 for the following reasons:
Any time you're going to apply for a credit card, you want to make sure you choose the right one. Here's how to pick a credit card:
Decide which type of card you want. This will narrow down your credit card offers considerably, so it makes sense to do this first. If you're most interested in, for example, earning travel points, then there's no need to look at the best credit card offers for a 0% intro APR.
Compare credit cards in that category. Once you've chosen a type of card, it's time to compare credit cards side by side. Find the best credit cards in that category and then decide which is best for you. Here's how to compare credit cards:
The simplest way to apply for a credit card is online, where you can complete an application in minutes. Here's how to apply for a credit card online:
Whether your credit card helps or hurts you all depends on how you use it. To ensure that your credit card provides value and doesn't get you in debt, here are a few key guidelines:
Annual percentage rate (APR): The annual percentage rate is charged for carrying a balance on a credit card, expressed as an annual percentage. With credit cards, the APR is the same as the interest rate.
Balance: The amount owed on a credit card, including all unpaid transactions and fees. The balance at the end of a statement period is called the statement balance.
Balance transfer: Moving a balance from one credit card to another. This is usually done when the new card offers a lower APR. Not every credit card offers balance transfers, and many of the cards with this feature charge a balance transfer fee.
Cash advance: Withdrawing cash from a credit card, most often through cash advance checks, using the card at an ATM, or by wiring money with the card. Cash advances usually have a higher APR and start accruing interest immediately, so it's a poor way to use a credit card.
Credit card: A credit card is a revolving line of credit issued by a bank and connected to a revolving line of credit. The cardholder can use their credit card for purchases and possibly other types of transactions, although this depends on the card.
Credit limit: The credit card's spending limit. This can vary based on the type of transaction. On credit cards that offer cash advances, there is typically a lower credit limit for cash advances than for purchases. A transaction that would exceed a card's credit limit will be declined unless the cardholder has opted to allow over-the-limit transactions (and any potential fees that come with them).
Credit score: A credit score is a rating of a consumer's creditworthiness. The score indicates how likely it is that they will make bill payments on time and repay what they borrow. Credit scores are calculated based on the consumer's financial history.
Interest: A fee charged for borrowing money. The APR determines how much interest a credit card company can charge on balances. Use our interest rate calculator to get a sense of how much interest adds to your monthly bill.
Minimum payment: The minimum amount a cardholder can pay by the due date to remain current on their credit card bill and avoid a late fee.
A credit card allows you to pay for purchases by borrowing money. The maximum amount you can borrow at one time is called your credit limit. The money you've already borrowed is your balance, and the amount you have left to borrow is your available credit.
The best credit card for many people is the Wells Fargo Active Cash℠ Card. It will get you a 2% cash rewards rate on purchases, making it one of the most lucrative and flexible credit cards. The $0 annual fee and lengthy 0% intro APR offer are also a big draw. While this is an easy pick to recommend for many people, it's important to know that the market is packed with plenty of the best credit cards, ones included on this shortlist and not. The best credit card to have will depend on your unique situation.
You can compare credit card offers with our side-by-side credit card comparison tool. Pay attention to key features like the APR, annual fee, rewards system, welcome offers, and credit requirements.
The right number of credit cards for most people is one. That's particularly important for cardholders using credit cards for rewards, since the juice may not always be worth the squeeze when carrying multiple cards and using each to optimize rewards for each spending category.
Whether your credit card helps or hurts you all depends on how you use it. To ensure that your credit card provides value and doesn't get you in debt, here are a few key guidelines:
D'Arcy Becker
Department Chairperson and Professor of Accounting at the University of Wisconsin-Whitewater
What advice would you give first time credit card users?
Be careful about the kinds of things [they] charge. It is usually a bad idea to put all of your expenses on a [credit] card. That can lead to a false sense of how much cash you have (because you’re not spending cash during the month but owe a lot at the end). It can also make expenses seem less real. You don’t feel the pain of the expense, so it is easier to buy things you can’t afford.
What is a common misconception about credit cards?
That you can afford to have a credit card if a company will give you one. You can get a credit card with high interest terms because this is profitable for the card company.
How can shoppers feel they choose the right card for their needs?
The cost of a card comes in three forms: the annual fee to just have the card, the fees and penalties for missed or late payments, and the interest charges. If you look at one of these features and not the others, you might not get the best deal. Don’t kid yourself that you’d never pay interest, late fees, or penalties. Mistakes happen. Some cards have forgiveness for a single late payment. Some have no annual fee. Some charge low interest. Try to find cards that have all three.
Bill Maurer, Ph.D.
Director, Institute for Money, Technology, and Financial Inclusion at the University of California, Irvine
What are some current credit card trends that consumers should be aware of?
People paid down their credit card balances during COVID -- in part because their spending declined with fewer opportunities for dining or entertainment, and in part because of relief checks. Expect credit card companies to come courting you hard, with new offers, points, and rewards. But proceed with caution! There may be hidden fees, higher interest rates, or other catches. It pays to read the fine print.
We'll see more contactless payment options at the point of sale, too -- tap and pay or mobile. The technology was arriving in more retail establishments before the pandemic, but COVID made people cautious about touching things, and merchants will respond to that behavior change.
What is a common misconception around credit cards?
The first misconception is that all credit is bad or will get you into trouble. Having good credit provides you with the power to borrow when you need it, at a lower rate and with better terms. Building credit can help you make longer-term investments in your own and your family's future -- through education loans and mortgages, for example. But it needs to be part of an overall, conscious strategy, not just driven by your latest online shopping binge.
William Hippler, Ph.D.
Associate Professor of Finance at the University of La Verne
What are some current credit card trends that consumers should be aware of?
The massive amounts of data that are collected by financial institutions due to advances in technology are facilitating new products and raising new concerns for consumers. For example, technology-driven financial companies (like PayPal) are competing with traditional banks and credit cards in the consumer finance space to offer point-of-sale transaction processing, installment loans (sometimes at 0% APR), and other services. The ability of these companies to generate massive amounts of data about borrowers drives this competition and is bringing about new concerns from privacy advocates with regards to how that data is stored and shared among financial institutions and their partners.
What is a common misconception around credit cards?
One misconception is that a financially responsible person shouldn't use credit cards at all. Using credit cards can be financially detrimental for undisciplined consumers; however, they offer many benefits for financially-savvy individuals. The key is to not overspend, pay off the balance each month to avoid interest and fees, and choose a card that offers the best benefits for your lifestyle. By being a convenience user, you reap the benefits of credit cards, while avoiding the pitfalls and improving your credit score.
Why do interest rates vary by credit card?
While credit card interest rates move with the general level of interest rates in the economy, each financial institution's assessment of your risk as a borrower ultimately determines the terms under which they offer you credit. Each financial institution takes the information they have about you to make an assessment about your risk as a borrower, and there may be discrepancies across financial institutions in terms of what information they have about you and how they weigh each piece of information. As a result, you may notice differences in the terms offered to you by different lenders.
Lyle Daly is a personal finance writer who specializes in credit cards, travel rewards programs, and banking. He writes for The Ascent and The Motley Fool, and his work has appeared in USA Today and Yahoo! Finance. He was born in California but currently lives as a digital nomad with a home base in Colombia.
We're firm believers in the Golden Rule, which is why editorial opinions are ours alone and have not been previously reviewed, approved, or endorsed by included advertisers. The Ascent does not cover all offers on the market. Editorial content from The Ascent is separate from The Motley Fool editorial content and is created by a different analyst team. The Motley Fool has a Disclosure Policy. The Author and/or The Motley Fool may have an interest in companies mentioned.
For rates and fees for the Blue Cash Preferred® Card from American Express, click here
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