No matter you are an immigrant or a local in the United States, the credit card is crucial in your life as long as you have an SSN. Because using credit cards helps you build your credit when used responsibly. With a good credit record, banks are willing to let you borrow money when you need it for purchasing a car or even a house. Credit cards can actually make people’s lives better if they choose the right cards.
However, there are so many secrets in applying for credit cards. Hundreds of kinds of credit cards in the market make you confused and some of them are totally useless. That’s why everyone has to be prepared before applying one. As we all know, doing research is time-consuming and people can easily get overwhelmed by so much information on the internet. Therefore, we chose the 10 best credit cards of 2020 for you.
Discover it Student Cash Back
(The Best First Credit Card 2022)
Discover it Student Cash Back is the best card for students. When you receive your SSN by working at school, the first credit card you should apply for is Discover it Student Cash Back card. It is the easiest credit card for all students to apply, helping you build your credits as soon as possible. Definitely one of the 10 best credit cards. Read more features here.
Annual fee: $0
Regular APR: 0% intro APR for the first 6 months, then 13.74%-22.74% variable APR will be applied.
Welcome bonus: No
Rewards: 5% cashback will be applied to everyday purchases each quarter when you activate it in a 5% cashback calendar; unlimited 1% cashback for all other purchases.
Pros:
- No annual fee
- 0% intro APR period
- Flexible cashback each quarter
Cons:
- Narrowed target customers (only for students)
- Bonus rewards require quarterly manual activation
Chase Freedom Unlimited
(The Best Student Credit Card 2022)
Chase Freedom Unlimited is probably the second credit card a student can apply. With a good credit history for around a year, students can ask for applying Chase Freedom Unlimited. And it is also a pretty good credit card for non-student and for people who want cashback instead of bonus for travel. Read more features here.
Annual fee: $0
Regular APR: 0% intro APR for the first 15 months, then 15.74%-24.49% will be applied.
Welcome bonus: $200 bonus will be added to your account after you spend $500 on purchases in the first 3 months of account opening.
Rewards: 1.5% cashback on every purchase. points on travel and on dining at restaurants; 1x points on all other purchases.
Pros:
- No minimum redemption
- No annual fee
- Cashback rewards do not expire
- 0% Intro APR period
- A student with good credit record can apply for it
Cons:
- Has a foreign transaction fee
- Good credit required
- No bonus rewards offer, only cashback
Chase Sapphire Preferred Card
(The Best Travel Rewards Credit Card 2022)
Chase Sapphire Preferred Card is one of the best beginner travel credit cards. It has a pretty decent welcome bonus which can be redeemed as $750 in travel rewards. If you travel frequently, Chase Sapphire Preferred Card is a good choice because the annual fee is lower than other cards. Read more features here.
Annual fee: $95
Regular APR: 17.49% -24.49% Variable
Welcome bonus: 60,000 bonus points after you spend $4,000 on purchases in the first 3 months after account opening. (That's $750 in travel rewards)
Rewards: 2x points on travel and on dining at restaurants; 1x points on all other purchases.
Pros:
- Earn 2X Points on travel and dining
- 25% more in travel redemption
- 1: 1 point transfer
- 0 delivery fee offer from Doordash
- 5x total points on Lyft rides through March 2022
- No foreign transaction fee
Cons:
- Annual fee can’t be waived in the first year
- No intro APR offer
Chase Sapphire Reserve
(The Best Premium Rewards Credit Card 2022)
Chase Sapphire Reserve is for people who travel all the time. Before applying for Chase Sapphire Reserve, you have to think over whether the card is worthy because the annual fee is high. Read more features here.
Annual fee: $550 ($75 for authorized user)
Regular APR: 17.74%-24.74% variable
Welcome bonus: 50,000 bonus points will be counted after you make at least $4,000 on purchase in the first 3 months of account opening. (That's $750 in travel rewards)
Rewards：3x points on travel and on dining at restaurants; 1x points on all other purchases.
Pros:
- $300 annual travel credit
- 0 delivery fee offer from Doordash
- 10x total points on Lyft rides
- 50% more in travel redemption
- Premium travel benefits
- No foreign transaction fee
Cons:
- High annual fee, can’t be waived in the first year
- No intro APR offer
- Needs excellent credit to apply
Bank of America Premium Rewards Credit Card
(The Best Travel and Dining Credit Card 2022)
Bank of America Premium Rewards Credit Card is worth to be applied, especially for people who have owned account in Bank of America. But it is not the basic credit card in Bank of America, so it might need a pretty long credit history and good credit record. Read more features here.
Annual fee: $95
Regular APR: 16.74%-23.74% Variable
Welcome bonus: 50,000 bonus points will be counted after you spend at least $3,000 in the first 90 days of account opening.
Rewards: 2 points per $1 spent on travel and on dining purchases; 1.5 points per $1 spent on all other purchases.
Pros:
- No foreign transaction fee
- TSA precheck credit
- Up to $200 in travel statement credit rewards
- Flexible reward redemption options
- No blackout dates or restrictions and points do not expire
Cons:
- 3% on both cash advance and balance transfer fee
Bank of American Cash Reward Credit Card
(The Best Daily Used Credit Card 2022)
Bank of American Cash Reward Credit Card is the basic credit card in Bank of America. If you have an account with plenty of money in Bank of America, you can ask if you can apply for a Bank of American Cash Reward Credit Card. Many students have applied for it successully already. Read more features here.
Annual fee: $0
Regular APR: 0% for the first 15 statement closing dates. After that, 14.74%-24,74% will be applied. (Variable)
Welcome bonus: $200 cash rewards bonus will be added after making at least $1,000 purchase in the first 90 days of account opening.
Rewards: 3% cashback in the category of your choice, 2% cashback at grocery stores and wholesale clubs and 1% cashback on all other purchases.
Pros:
- Allow choosing your 3% category
- No annual fee
- 0% APR on purchases
Cons:
- Higher-rate rewards are capped
- No big welcome bonus
Citi AAdvantage Platinum Select World MasterCard
(The Best Airline Credit Card 2022)
Citi AAdvantage Platinum Select World MasterCard is for people who take American Airlines all the time. Because you can earn 2 AAdvantage®miles for every $1 spent on eligible American Airlines purchases and for every $1 spent at restaurants and gas stations. And earn 1 AAdvantage mile for every $1 spent on other purchases. It is apparently a good deal. Read more features here.
Annual fee: Annual fee will be waived for the first 12 months, then $99 annual fee will be applied.
Regular APR: 16.74%-25.74% variable
Welcome bonus: 50,000 American Airlines AAdvantage bonus miles will be added into your account after you purchase at least $2,500 within the first 3 months of account opening.
Rewards: Earn 2 AAdvantage®miles for every $1 spent on eligible American Airlines purchases; Earn 2 miles for every $1 spent at restaurants and gas stations; Earn 1 AAdvantage mile for every $1 spent on other purchases.
Pros:
- No foreign transaction fee
- Diverse rewards applied to your account
- Annual fee waived for the first year
- High airline bonus rewards
- Have travel benefits
Cons:
- High regular APR
Wells Fargo Propel American Express Card
(The Best Daily Use American Express Credit Card 2022)
Wells Fargo Propel American Express Card has attracting rewards on different things. Compared to other credit cards that can only earn 2x points on spending, you can earn 3x points on many spending by using Well Fargo Propel American Express Card. Read more features here.
Annual fee: $0
Regular APR: 0% intro APR for the first 12 months, then 14.49%-24.99% variable APR will be applied.
Welcome bonus: 20,000 bonus points will be added to your account after your purchase reach out to $1,000 in the first 3 months.
Rewards: Earn 3X points on many of your favorite things such as eat &drinks, ride &drive, fly&stary, and watch & listen.
Pros:
- No annual fee
- No foreign transaction fee
- High reward points
Cons:
- American Express will not be accepted at as many merchants as Visa or Mastercard
- Excellent credit required
Blue Cash Preferred Card From American Express
(The Best Cashback Credit Card 2022)
Blue Cash Preferred Card From American Express provides a decent cashback on gas at U.S gas stations and on transit. If you gas a lot, Blue Cash Preferred Card From American Express is a good choice for you. Read more here.
Annual fee: $95
Regular APR: 0% intro APR for the first year, then 14.74%-24.74% variable APR will be applied.
Welcome bonus: $350 cashback after you spend $3,000 in purchase with your new card in the first 6 months of account opening.
Rewards: Earn 6% cashback at U.S. supermarkets on up to $6,000 per year in purchases (then 1%); Earn 6% cashback on select U.S. streaming subscriptions; Earn 3% cashback on transit; Earn 3% cashback on gas at U.S. gas stations and on transit. Earn 3% cashback on other purchases.
Pros:
- Competitive and attractive cashback
- 0% intro APR period activated
Cons:
- Cashback limit and exclusions on bonus categories
Capital One Savor Cash Rewards Credit Card
(The Best Dining and Entertainment Credit Card 2022)
Capital One Savor Cash Rewards Credit Card is suitable for people always eating outside and doing entertainment. Because it offers a competitive cashback on dining and entertainment. Read more features here.
Annual fee: no annual fee for the first year, then, $95 will be applied.
Regular APR: 16.24%-24.24% variable
Welcome bonus: One-time $300 cash bonus will be earned when you purchase at least $3,000 within 3 months of account opening.
Rewards: Unlimited 4% cashback on dining & entertainment; 2% at grocery stores and 1% on all other purchases.
Pros:
- No foreign transaction fee
- No transfer fee
- Rich rewards on dining and entertainment
- 8% cashback when you buy tickets on Vivid Seats through May 2020
Cons:
- The entertainment category that earns 4% cashback doesn't include streaming and subscription services
Enjoy a debit card with credit card perks: Cheese Debit Card
Cheese Debit Card can help you get up to 10% cash back just as credit cards do even with extra bonus! You can earn up to 3% deposit bonus without paying any banking fees. Plus, you can purchase up to 40% discounted gift cards with all the brands you like in the Cheese app!
Here're more you need to know bout credit cards:
5 Hacks to Use Credit Cards Wisely
7 Tips for Paying Off Credit Card Debt'
9 best Co-branded Rewards Credit Cards for Clothing
Best Co-branded Hotel Credit Cards You Need to Know.
Co-branded Credit Cards for Books, Theme Parks, Electronic Gadgets, and Makeup
COVID 19: What to Do With Your Credit Card Rewards?
Should I Get A Co-branded Credit Card?
The 5 Best Credit Cards for Bad Credit Summer 2020
The Best Co-branded Credit Cards for Grocery
The Best Credit Card Rewards for Gas and Groceries
The Best Credit Cards of Discover Bank
The Consequences of Freezing a Credit Card
Which Banks Are Offering Credit Card Relief for Coronavirus?
