2023 s top credit cards

 

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Credit cards can play an important role in how you make purchases and manage your finances. They can be used for everyday purchases like groceries or gas, as well as big-ticket items like vacations. And many credit cards offer you extra benefits so you can earn and save more, and lead your desired lifestyle.

The best credit cards offer cash back, miles, or points; offer protection on purchases; and provide interest-free financing opportunities and other valuable benefits. When used responsibly, credit cards can also help you build credit. However, with so many credit cards to choose from, it can be challenging to find the right card for your situation. That's why Investopedia's list of best credit cards can help guide the way.

To find the best credit cards for our list, we evaluated each card based on its fees, rewards, welcome bonuses, introductory offers, features, and benefits.

Best Credit Cards 2023

• Best Overall, Best Cash Back Credit Card: Capital One Quicksilver Cash Rewards Credit Card
• Best Travel, Best Rewards Credit Card: Chase Sapphire Reserve®
• Best Airline Credit Card: United℠ Explorer
• Best Hotel Credit Card: World of Hyatt Credit Card
• Best Balance Transfer Credit Card: Citi® Diamond Preferred® Credit Card
• Best Student Credit Card: Bank of America® Travel Rewards for Students
• Best Business Credit Card: Ink Business Preferred℠ Credit Card
• Best Groceries Credit Card: Blue Cash Preferred® Card from American Express
• Best Online Shopping Credit Card: Capital One SavorOne Cash Rewards Credit Card
• Best Secured Credit Card: Capital One Platinum Secured

Best Credit Cards 2023

• Our Top Picks
• Capital One Quicksilver Cash Rewards Credit Card
• Chase Sapphire Reserve®
• United℠ Explorer
• World Of Hyatt Credit Card
• Citi® Diamond Preferred® Credit Card
• Bank Of America® Travel Rewards For Students
• Ink Business Preferred℠ Credit Card
• Blue Cash Preferred® Card From American Express
• Capital One SavorOne Cash Rewards Credit Card
• Capital One Platinum Secured
• See More (7)

• Final Verdict

• Compare Credit Cards

• Frequently Asked Questions

• Methodology

BEST OVERALL, BEST CASH BACK CREDIT CARDCapital One Quicksilver Cash Rewards Credit Card

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Overall Rating

4.9

NEXT STEPS

CURRENT OFFER

Earn $200 cash bonus once you spend $500 on purchases within 3 months from account opening.

RECOMMENDED CREDIT 

SCORE

670

850

Good - Excellent

REGULAR APR (%)	19.74% - 29.74% variable
ANNUAL FEE	$0
REWARDS EARNING RATE	1.5% cash back on every purchase, every day.
INTRO PURCHASE APR	0% for 15 Months
INTRO BALANCE TRANSFER APR	0% for 15 Months
BALANCE TRANSFER FEE	3% of the amount of each transferred balance during the first 15 months that your account is open or at a promotional APR Capital One may offer. After 15 months, none for transferred balances at the purchase APR.
FOREIGN TRANSACTION FEE (%)	0%

• WHY WE CHOSE IT
• PROS AND CONS

The Capital One Quicksilver Cash Rewards card is our best overall credit card and best for cash back because of its combination of low fees, low interest, and high rewards earning rate. With no annual fee, you don't need to worry about making sure you're extracting maximum value from the card every year to make it worth it.1

The absence of a foreign transaction fee makes this a rare cash back credit card that’s worth bringing on a trip abroad and helps make a compelling case that if you're only going to carry one card, this should be it.

BEST TRAVEL, BEST REWARDS CREDIT CARDChase Sapphire Reserve®

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Overall Rating

4.1

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CURRENT OFFER

Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $900 toward travel when you redeem through Chase Ultimate Rewards®.

RECOMMENDED CREDIT 

SCORE

800850

Excellent

REGULAR APR (%)	21.99% - 28.99% variable
ANNUAL FEE	$550
REWARDS EARNING RATE	Earn 10x total points on chase Dining purchases with Ultimate Rewards®. Earn 5x total points on flights and 3x on other travel worldwide. Earn 3x points on other dining at restaurants, including eligible delivery services, takeout and dining out. Plus, earn 1 point per dollar spent on all other purchases.
BALANCE TRANSFER FEE	Either $5 or 5% of the amount of each transfer, whichever is greater.
FOREIGN TRANSACTION FEE (%)	0%

• WHY WE CHOSE IT
• PROS AND CONS

The Chase Sapphire Reserve is our best credit card for travel and best for rewards because of its competitive one-time point bonus, high rewards earning rate, and its suitcase-full of travel perks and benefits. Points are worth 50% more if you redeem them for travel through the Chase Ultimate Rewards portal, and you can transfer points on a 1:1 basis to a long list of eligible hotel and airline partners.2

While the annual fee is high, if you're an avid traveler, the $300 annual travel credit can help justify the expense. Chase Sapphire Reserve also offers numerous other premium travel-related benefits and flexible redemption options through Chase's Ultimate Rewards program.

BEST AIRLINE CREDIT CARDUnited℠ Explorer

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Overall Rating

3.6

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CURRENT OFFER

Earn 50,000 bonus miles after you spend $3,000 on purchases in the first 3 months your account is open.

RECOMMENDED CREDIT 

SCORE

670

850

Good - Excellent

REGULAR APR (%)	21.49% - 28.49% variable
ANNUAL FEE	$0 for the first year, then $95
REWARDS EARNING RATE	Earn 2 miles per $1 spent on purchases from United, including tickets, Economy Plus®, inflight food, beverages and Wi-Fi, and other United charges. 2 miles per $1 spent on dining, including eligible delivery services. 2 miles per $1 spent on hotel accommodations when purchased directly with the hotel. 1 mile per $1 spent on all other purchases.
BALANCE TRANSFER FEE	Either $5 or 5% of the amount of each transfer, whichever is greater.
FOREIGN TRANSACTION FEE (%)	0%

• WHY WE CHOSE IT
• PROS AND CONS

Based on our analysis, the United Explorer Card offers the one of the highest value per mile earned of any airline credit card, and miles can be redeemed in multiple ways, including for flights on member participating airlines in its Star Alliance, one of the largest global airline partnerships. You'll need to be committed to United as your primary airline in order to maximize the benefit from the card.

The card's compelling introductory bonus really adds to the card's value because of the high value placed on redeeming those miles with United. The $95 annual fee is in line with its competitors and is waived the first year. The card does not charge foreign transaction fees, which helps make it an excellent choice for international travel.3

United has announced that it has permanently eliminated reservation change fees, which should greatly reduce any traveler anxiety around booking future award travel with earned miles and make the introductory bonus on this card that much more appealing.

BEST HOTEL CREDIT CARDWorld of Hyatt Credit Card

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Overall Rating

3.5

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CURRENT OFFER

Earn 30,000 Bonus Points after you spend $3,000 on purchases in your first 3 months from account opening. Plus, up to 30,000 More Bonus Points by earning 2 Bonus Points total per $1 spent in the first 6 months from account opening on purchases that normally earn 1 Bonus Point, on up to $15,000 spent.

RECOMMENDED CREDIT 

SCORE

670

850

Good - Excellent

REGULAR APR (%)	20.99% - 27.99% variable
ANNUAL FEE	$95
REWARDS EARNING RATE	Earn 4X points for Hyatt stays, 2x for eligible transit, restaurants, gym memberships, and airfare purchased directly from the airline. 1x on other purchases.
BALANCE TRANSFER FEE	Either $5 or 5% of the amount of each transfer, whichever is greater.
FOREIGN TRANSACTION FEE (%)	0%

• WHY WE CHOSE IT
• PROS AND CONS

Our choice for the best overall credit card for hotels is the World of Hyatt Credit Card because it offers an attractive introductory one-time bonus of 30,000 points after spending $3,000 in the first three months of account opening. World of Hyatt cardmembers also earn an automatic award night at a category 1-4 Hyatt property upon each anniversary, which alone can justify the card's modest annual fee of $95.4

As for the World of Hyatt Credit Card's rewards earning rate, cardmembers can enjoy 4X points for Hyatt stays (in addition to the 5X points that can be earned by those with Hyatt Discoverist status on Hyatt stays, for a total of 9X points) and 2X points on purchases for transit, restaurants, gym memberships, and airfare purchased directly from airlines. Investopedia values World of Hyatt points higher than any other hotel brand.

BEST BALANCE TRANSFER CREDIT CARDCiti® Diamond Preferred® Credit Card

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Overall Rating

3.4

NEXT STEPS

RECOMMENDED CREDIT 

SCORE

670

850

Good - Excellent

REGULAR APR (%)	17.99% - 28.74% variable
ANNUAL FEE	$0
INTRO BALANCE TRANSFER APR	0% for 21 Months
INTRO PURCHASE APR	0% for 12 Months
BALANCE TRANSFER FEE	Either $5 or 5% of the amount of each transfer, whichever is greater.
REWARDS EARNING RATE	This card does not offer a rewards program.

• WHY WE CHOSE IT
• PROS AND CONS

The Citi Diamond Preferred Credit Card is an excellent choice for transferring a balance. It offers a 0% introductory rate on purchases for 12 months and 0% on balance transfers for 21 months.5

Balance transfers must be completed within four months of account opening and incur a 5% fee (min $5) of the amount transferred. After the promotion expires, the interest rate reverts to a variable APR ranging from 17.99% to 28.74%, depending on your creditworthiness. The card does not charge an annual fee.

BEST STUDENT CREDIT CARDBank of America® Travel Rewards for Students

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Overall Rating

4.6

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CURRENT OFFER

25,000 bonus points if you make at least $1,000 in purchases in the first 90 days of your account opening - which can be redeemed for a $250 statement credit toward travel purchases.

RECOMMENDED CREDIT 

SCORE

670

850

Good - Excellent

REGULAR APR (%)	17.74% - 27.74% variable
ANNUAL FEE	$0
REWARDS EARNING RATE	Earn unlimited 1.5 points for every $1 you spend on all purchases everywhere.
INTRO PURCHASE APR	0% for 18 Statement Closing Dates
INTRO BALANCE TRANSFER APR	0% for 18 Statement Closing Dates
BALANCE TRANSFER FEE	3% of the amount of each transaction.
FOREIGN TRANSACTION FEE (%)	0%

• WHY WE CHOSE IT
• PROS AND CONS

The Bank of America Travel Rewards for Students is our pick for the best student credit card because of the high earning rate on its rewards program that you can then redeem for all sorts of travel expenses.6

It also has a long introductory APR on purchases and no annual fee, which add to the card's strong rating. Plus, the lack of foreign transaction fees makes this an ideal card for student travel outside the U.S. The Bank of America Travel Rewards for Students card also offers excellent credit education and monitoring services.

BEST BUSINESS CREDIT CARDInk Business Preferred℠ Credit Card

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Overall Rating

3.6

NEXT STEPS

CURRENT OFFER

Earn 100,000 bonus points after you spend $15,000 on purchases in the first 3 months from account opening. That's $1,000 cash back or $1,250 toward travel rewards when you redeem through Chase Ultimate Rewards®.

RECOMMENDED CREDIT 

SCORE

670

850

Good - Excellent

REGULAR APR (%)	20.99% - 25.99% variable
ANNUAL FEE	$95
REWARDS EARNING RATE	Earn 3 points per $1 on the first $150,000 spent on shipping purchases, advertising purchases made with social media sites and search engines, internet, cable and phone services, and travel each account anniversary year. Earn unlimited 1 Point Per $1 spent on all other purchases. Points do not expire as long as your account is open.
BALANCE TRANSFER FEE	Either $5 or 5% of the amount of each transfer, whichever is greater.
CASH ADVANCE APR (%)	29.99%
CASH ADVANCE FEE	Either $15 or 5% of the amount of each transfer, whichever is greater.

• WHY WE CHOSE IT
• PROS AND CONS

The Ink Business Preferred Credit Card is the best card for business owners because of its earning power. You'll earn 3 points per dollar on the first $150,000 you spend each year in combined purchases of travel, shipping, online advertising, and internet, cable, and phone services. New cardholders can earn 100,000 bonus points after spending $15,000 within three months. That's worth $1,000 in cash back or $1,250 in travel booked through Chase Ultimate Rewards.7

Points earned with this card can be transferred to airline and hotel partners, redeemed for cash and gift cards, or used to book travel with a 25% bonus through the Chase travel portal. Employee cards are available at no extra cost, and complimentary tools allow you to stay on top of your business. These tools include fraud protection, purchase protection, personalized account alerts, and more.

BEST GROCERIES CREDIT CARDBlue Cash Preferred® Card from American Express

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Overall Rating

3.9

NEXT STEPS

CURRENT OFFER

Earn $250 Back after you spend $3,000 in purchases on your new Card within the first 6 months of Card Membership. You will receive the $250 back in the form of a statement credit.

RECOMMENDED CREDIT 

SCORE

670

850

Good - Excellent

REGULAR APR (%)	18.99% - 29.99% variable
ANNUAL FEE	$95
REWARDS EARNING RATE	Earn 6% back at US supermarkets (on up to $6,000 per year in purchases), 6% back on select U.S. streaming subscriptions, 3% back on eligible transit and US gas stations, and 1% back on other purchases.
INTRO PURCHASE APR	0% for 12 Months
INTRO BALANCE TRANSFER APR	0% for 12 Months
BALANCE TRANSFER FEE	Either $5 or 3% of the amount of each transfer, whichever is greater.
FOREIGN TRANSACTION FEE (%)	2.7%

See rates and fees

• WHY WE CHOSE THIS CARD
• PROS AND CONS

Grocery shopping is more rewarding with the Blue Cash Preferred® Card from American Express. You can earn a full 6% back at U.S. supermarkets (on up to $6,000 per year in purchases), 6% back on select U.S. streaming subscriptions, 3% back on eligible transit and U.S. gas stations, and 1% back on all other purchases. Plus, you'll earn a $250 statement credit after spending $3,000 within six months.8

New cardholders can also use the 0% APR introductory offer on purchases for 12 months. There is a $95 annual fee, but it is waived the first year. So, you can enjoy the cash back features of this card during that period to experience its benefits before paying an annual fee in year two.

BEST ONLINE SHOPPING CREDIT CARDCapital One SavorOne Cash Rewards Credit Card

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Overall Rating

4.9

NEXT STEPS

CURRENT OFFER

Earn a one-time $200 cash bonus after you spend $500 on purchases within the first 3 months from account opening.

RECOMMENDED CREDIT 

SCORE

670

850

Good - Excellent

REGULAR APR (%)	19.74% - 29.74% variable
ANNUAL FEE	$0
REWARDS EARNING RATE	Earn 3% cash back on dining, entertainment, popular streaming services and at grocery stores, plus 1% on all other purchases.
INTRO PURCHASE APR	0% for 15 Months
INTRO BALANCE TRANSFER APR	0% for 15 Months
BALANCE TRANSFER FEE	3% of the amount of each transferred balance that posts to your account during the first 15 months that your account is open or at a promotional APR that we may offer you at any other time.
FOREIGN TRANSACTION FEE (%)	0%

• WHY WE CHOSE IT
• PROS AND CONS

The Capital One SavorOne Cash Rewards credit card is an excellent choice for shopping online, including groceries and take out food as well as for charging online entertainment streaming services like Netflix, HBO, Disney+, and Hulu. Specifically, it earns a full 3% cash back on dining, entertainment, popular streaming services, and on grocery store purchases, plus 1% on all other spending. So, you can earn extra cash back rewards whether you're shopping online, out with friends, or enjoying a quiet night at home.

New cardmembers receive a $200 cash bonus after spending $500 within three months. Plus, there is no annual fee, so all of the cash back that you earn is yours to keep. Travelers will love that there are no foreign transaction fees, so there are no surprises when making international purchases.9

BEST SECURED CREDIT CARDCapital One Platinum Secured

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Overall Rating

3.1

NEXT STEPS

RECOMMENDED CREDIT 

SCORE

350

850

Poor - Excellent

REGULAR APR (%)	27.24% variable
ANNUAL FEE	$0
MINIMUM DEPOSIT TO ACTIVATE	$49
PAY DEPOSIT IN INSTALLMENTS	Yes
ALLOWS UPGRADE TO UNSECURED CARD	Yes
REWARDS EARNING RATE	This card does not offer a rewards program.

• WHY WE CHOSE THIS CARD
• PROS AND CONS

The Capital One Platinum Secured Card is Investopedia's choice for best secured card due to its lack of an annual fee and its security deposit flexibility, allowing customers to make installment deposits over time rather than all upfront. Capital One also provides automatic credit line increases over time with responsible card use and offers an array of non-secured card options that customers can consider once they have built up their credit scores. No annual fee makes the Capital One Platinum Secured Card an affordable on-ramp to establishing a positive credit history.10

Final Verdict

Credit cards have a wide range of fees, interest rates, benefits, promotions, welcome offers, and more. Because each credit card is different, finding the right one depends on your budget, how much you spend and where, and what benefits are important to you. While some people avoid paying annual fees, many are willing to do so if the benefits far exceed what they pay each year.

The Capital One Quicksilver Cash Rewards is our top choice for the best credit card because it offers an unlimited 1.5% cash back on every purchase. It has no annual fee, no foreign transaction fees, and a $200 welcome bonus that is earned after spending just $500 within three months.

Compare the Best Credit Cards

Credit Card	Annual Fee	Top Feature
Capital One Quicksilver Cash Rewards Credit CardBest Overall Credit Card	$0	1.5% cash back on every purchase
Chase Sapphire Reserve®Best for Travel Credit Card	$550	Earn 10x total points on Chase Dining purchases with Ultimate Rewards®. Earn 5x total points on flights and 3x on other travel worldwide. Earn 3x points on other dining at restaurants, including eligible delivery services, takeout, and dining out. Plus, earn 1 point per dollar spent on all other purchases.
Capital One Quicksilver Cash Rewards Credit CardBest Cash Back Credit Card	$0	1.5% cash back on every purchase
United℠ ExplorerBest Airline Credit Card	$95	Earn 2 miles per $1 spent on purchases from United, including tickets, Economy Plus®, inflight food, beverages, and Wi-Fi, and other United charges. 2 miles per $1 spent on dining, including eligible delivery services. 2 miles per $1 spent on hotel accommodations when purchased directly with the hotel. 1 mile per $1 spent on all other purchases.
World of HyattBest Hotel Credit Card	$95	4X points for Hyatt stays, 2X for eligible transit, restaurants, gym memberships, and airfare purchased directly from the airline. 1X on other purchases
Citi® Diamond Preferred® Credit CardBest Balance Transfer Credit Card	$0	0% for 21 months balance transfer
Bank of America® Travel Rewards for StudentsBest Student Credit Card	$0	1.5 points for every $1 spent
Ink Business Preferred℠ Credit CardBest Business Credit Card	$95	3 points per $1 on first $150,000 spent on eligible purchases
Blue Cash Preferred® Card from American ExpressBest Groceries Credit Card	$95	Earn 6% back at U.S. supermarkets (on up to $6,000 per year in purchases)
Capital One SavorOne Rewards CardBest Online Shopping Credit Card	$0	Earn 3% cash back on dining, entertainment, popular streaming services, and at grocery stores, plus 1% on all other purchases.
Chase Sapphire Reserve®Best Rewards Credit Card	$550	Earn 10X total points on Chase Dining purchases with Ultimate Rewards®. Earn 5X total points on flights and 3X on other travel worldwide. Earn 3X points on other dining at restaurants, including eligible delivery services, takeout, and dining out. Plus, earn 1 point per dollar spent on all other purchases.
Capital One Platinum SecuredBest Secured Credit Card	$0	Flexible and inexpensive with lower security deposit requirement compared to other secured cards, no annual fee and no foreign transaction fees.

Frequently Asked Questions

• What Is the Best Credit Card?

• What Credit Card Is Best for Me?

• What Credit Scores Are Required?

• Is It Possible to Qualify for a Credit Card With Bad Credit?

• What Types of Rewards Do Credit Cards Offer?

• What Are Common Credit Card Benefits?

 

 

Methodology

We constantly monitor credit card offers from card-issuer websites and publicly available sources to find the best credit cards for our readers. Each credit card is evaluated based on its fees, rewards, welcome bonuses, introductory offers, features, and benefits so that we can determine a winner for each category. Card issuers update their cards on a regular basis, and when that happens, we update our card listings, reviews, and recommendations so our readers have the most reliable information and advice. You can also read the full version of our methodology for a more in-depth look at how we assess cards and award them the best in various categories.

Ben Woolsey is Investopedia's Associate Editorial Director for financial products. He has more than 30 years of experience in the financial services industry, including marketing for banking and financial institutions such as Associates First Capital and Bank One. Prior to Investopedia, he managed credit card content and earned media for CreditCards.com and Bankrate.com.

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