Are you thinking about getting a new credit card? Maybe you want to start building some credit? In this case, you are probably looking for the best credit cards in 2023. We understand how overwhelming it can feel to sift through hundreds of credit card offers wondering what the best option is for you.
Our team of experts gathered the ultimate list of credit cards based on interest rates, rewards programs and more. Whether you are looking for entry level or premium cards, this article has something for everyone.
In this article, we will discuss the best credit cards of 2023 as well as things to keep in mind to enhance your chances of being approved. Keep reading to learn everything you need to know to secure your new card as we get further into 2023.
#1. Chase Freedom Flex Credit Card – Best cash back with no annual fees
#2. Wells Fargo Active Cash Credit Card – Best for 0% APR
#3. Capital One Venture X Rewards Credit Card – Best for upscale flexible rewards
#4. Chase Sapphire Preferred Credit Card – Best for creditors new to travel cards
#5. Wells Fargo Reflect Credit Card – Best for balance transfers
#6. Discover it Balance Transfer Credit Card – Best for long term value
#7. The Platinum Credit Card From American Express – Best for luxury travel benefits
#8. Discover it Secured Credit Card – Best for secured cards
#9. Discover it Student Cash Back – Best for students
#10. Petal 1 “No Annual Fee” Visa Credit Card – Best for individuals with bad credit
Chase Freedom Flex is a great card overall for individuals that want to redeem rewards while avoiding hefty fees. This card guarantees no annual fees with a $200 welcome bonus upon spending $500 in your first 3 months and regular APR of 17.99%-26.74%.
Many people choose this card because of its widespread earnings structure, allowing cardholders to receive cash back on travel purchases, dining, drugstores and more. There are also quarterly bonus categories that allow you to rake up even more savings, especially if you shop at the featured locations.
With Chase Freedom Flex, there is no minimum to redeem cash rewards, so all you have to do is link your card to one of your U.S checking or savings accounts or ask to receive a statement credit.
Another perk of this card is that there is 0% APR for the first 15 months, and then a variable APR rate will be activated. On average, most cardholders that are approved have an excellent credit scores or at least a good credit score between 700-749.
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Wells Fargo Active Cash is known for having one of the best long term 0% APR benefits as well as flat rate cash back. Cardholders will receive unlimited 2% cash rewards on all purchases with no annual fee.
If you spend $1,000 on your card within the first three months, you’ll also receive a $200 cash bonus. The intro APR period lasts for the first 15 months from account opening and then you will have a variable APR of 18.74%, 23.74%, or 28.74%.
Cash rewards remain active as long as your account is open, so you don’t have to worry about credits expiring. The Wells Fargo Active Cash Card is great for everyday purchases, especially if you want extra benefits on your cell phone bill and hotel stays.
When you use Visa Signature Concierge, you can unlock benefits at a variety of hotels across the nation. Additionally, cardholders can receive up to $600 of cell phone protection when you pay your monthly cell phone bill using the credit card.
Keep in mind that there is a foreign transaction fee with this card, and your credit card limit will be determined by your credit report.
When you apply, the credit card issuer will perform a review of your credit history through the credit bureaus. On average, most cardholders have a good or excellent credit score.
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Capital One Venture X Rewards is a premium card that has an annual fee of $395, although there are plenty of extra benefits and opportunities to earn cash. Most cardholders find that the annual travel credit and anniversary rewards compensate for the annual fee.
This card is catered to card holders that have excellent credit between 750-850, so this isn’t the card for you if you are just trying to build credit.
When you spend $4,000 in the first 3 months, you will receive 75,000 travel miles which equals out to roughly $750 in travel cash. Cardholders may also receive up to $300 in annual statement credit for travel booking through Capital One Travel.
Capital One Venture X Rewards Card guarantees a variety of ways to earn bonus points on hotels, airline, and car rentals. Additionally, you’ll get 2x miles on all other eligible purchases. If you enjoy having access to CapitalOne Lounges, this card allows you to get into over 1,400 locations for free.
The regular interest rates are between 19.99% – 26.99%, although it is variable based on your credit check from the three major credit bureaus. Your credit limit will be established after your credit card issuer runs a report.
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Chase Sapphire Preferred Credit Card has a reasonable annual fee of $95 with a variety of benefits for travel and dining expenses. If you spend $4,000 in the first 3 months, you will receive 60,000 bonus points or $750 redeemed through Chase Ultimate Rewards with the sign up bonus.
Most cardholders have excellent or good credit, and will experience regular APR rates between 18.99% – 25.99%.
Additionally, cardholders get a $50 annual hotel credit, 5x rewards on travel purchased through Chase Ultimate Rewards, 3x on dining and 2x on all other travel expenses. This is just the tip of the iceberg when it comes to the many benefits Chase Sapphire has to offer.
Chase also has the Pay Yourself Back program, which means your points are worth 25% more when you use them as statement credits against purchases. If you enjoy using DoorDash, you’ll receive unlimited access to Dash Pass with low services fees and $0 delivery for one year.
Wells Fargo Reflect Credit Card has a $0 annual fee and no welcome bonus, although it’s a great option for balance transfers for long payment windows. This card promises a generous introductory APR period for 18 months on eligible purchases and balance transfers.
If you pay your cell phone bill using the credit card, you can receive a $600 cell phone protection against damage or theft.
Wells Fargo Reflect is one of the best credit cards for anyone that has a mid-range credit score and wants to continue building credit while receiving general benefits and low fees. The APR range is between 16.74% – 28.74% depending on your personal credit score.
With this credit card, you can also receive rewards on other purchases from a variety of eligible merchants. Cardholders can shop, dine, and spend money on experiences all while receiving cash back, sent straight to their credit card account or delivered as a statement.
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Discover It Balance Transfer Card has no annual fee, 0% intro APR on purchases for 6 months and 0% intro APR on balance transfers for 18 months. Cardholders are given a higher credit line if they have reliable credit history.
The credit card issuers welcome offer also promises unlimited cash back match for the first year, and there’s no minimum spending or maximum rewards.
The regular APR is between 14.99%-25.99% with a rewards rate of 1%-5%. If you want to submit an application for a Discover credit card online, the target credit score window is between 690 and 850.
Every quarter cardholders can earn 5% cash back on select purchases such as restaurants, grocery stores, Amazon, gas stations and more. In the meantime, you can also receive 1% cash back on all other purchases.
All the cash benefits can be redeemed or used towards your monthly payments. If you are rebuilding credit, make sure to meet your minimum payment every month and pay down your credit early when you have the opportunity.
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The AMEX Platinum card is perfect for frequent travelers that enjoy benefits on hotels, airline and travel expenses. There is a steep annual fee of $695, however, many cardholders find that the benefits compensate for the added fees.
Upon account opening, you will receive 80,000 Membership Rewards Points after you spend $6,000 on purchases.
American Express cards also give you access to over 4o Centurion Lounge and Studio locations. This card gives members discounts and rewards for airline travel, digital entertainment platforms, Walmart, Uber, Equinox and more.
When you use your Platinum card on select purchases, you can expect to receive a hefty amount of rewards in return. Interest rates will fluctuate depending on your credit and length of time that you are a cardholder.
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Discover Secured Card is one of the best credit cards online for new credit holders or anyone looking to rebuild their credit or credit report. There is no credit score required to apply.
Discover offers a cash back match welcome bonus, which gives them a competitive edge against other credit card companies. Since this is a secured credit card, your credit limit will be determined by the amount of upfront security deposit required to open the account.
This card offers an unlimited 1% cash back rate on every purchase including grocery stores, as well as 2% at gas stations and restaurants. There is no penalty APR and no annual fee, making it an affordable option for new card holders. You can establish your credit line by providing a refundable security deposit of $200 or more.
After 7 months of being a cardholder, your account will be reviewed to see if you are ready to transition to an unsecured line of credit. An interesting benefit of Discover IT Secured Card is that you can get notified if your social security number is used on any of the Dark Web sites.
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Discover it Student Cash Back card is one of the best student credit cards in the credit card industry with a reasonable cash limit that allows younger adolescents to build a credit score.
Credit cards for students can be difficult to decide on, however, Discover is one of the most popular options today. There is no annual fee and a Cash back bonus welcome offer.
This card is primarily target at new cardholders or those with fair credit. Interest fees for these credit cards range from 15.99% – 24.99%. Students can earn 5% cash back on everyday purchases and no credit score is needed to apply. The purchase intro APR is 0% for six months and usually there is a continual low intro APR after that period.
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Petal 1 Credit Cards are sought after by anyone with bad or fair credit scores. There is no annual fee and the variable APR range from 22.99% – 32.49%. Credit limits are set between $300 to $5,000 with a potential for increase every six months. This card offers 2%-10% cash back at select merchants.
Additionally, Petal Credit Cards have no foreign transaction fees, no deposits are required and no credit score is needed to apply. Anyone can see if they are pre-approved within 5 minutes without risking an impact to their credit score.
Keep in mind that Petal will report your credit card statement to the bureaus if any issues arise.
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There are various reasons that credit cards can be a beneficial asset. Even if you don’t need access to extra funds, opening a credit card can be a great opportunity to build your credit score and credit history. This will help you in the future if you want to apply for business credit cards, loans, or a mortgage.
Many cardholders will use their credit card as a debit card in order to benefit from the monthly spending rewards. There can a lot of benefits to having a credit card as long as you are responsible with your funds and make regular payments.
It’s never recommended to use a credit card past the limit where you can’t pay off your balance. However, as you build up your credit, you’ll be eligible for even better credit cards that offer more robust financial rewards.
1. Check your credit score. Every 12 months you can request a free credit check from one of the major three bureaus. Before deciding on what credit card is best for you, you’ll want to determine your current credit standing. At this stage, you might even want to take a look into your credit report to get a more comprehensive overview of your financial health. Once you know your credit score, you can gauge which credit cards you can apply for.
3. Understand credit card terms.
Before applying for a credit card, you’ll want to understand all of the major terms. Some of these include APR, rewards rate, penalty fees, cash advance, foreign transaction fees, welcome bonus and more.
This will ensure you make the best decision and know exactly what to expect from your credit cards.
5. Be prepared for credit changes upon application.
When you apply for a credit card they will perform a hard inquiry on your credit experience, score and more. This may cause your score to drop temporarily, although this is no cause for concern.
Keep this in mind in case you are preparing to make other financial decisions involving your credit at this time.
2. Consider what you need a credit card for.
There are a variety of reasons you might want a credit card or a new credit card. Are you wanting to improve your credit score? Do you want to benefit from low fees and extra rewards?
Do you want cash back on everyday purchases or special occasions like travel and hotel stays? Narrow down exactly what you are looking for and why you are considering applying for a card.
4. Check if you are pre-approved.
If you want to save time applying for credit cards, check for pre-approval to see if you are eligible. This can be done on a variety of websites online, or on the website of your issuer.
6. Find a repayment system that works for you.
If you make late payments or minimum payments, you risk influencing your credit score. You’ll want to create a system that ensures you never miss a payment and continuously stay up to date on what you owe.
Some systems will allow you to set up automation so that the money will withdraw from your checking account automatically.
7. Gather all your information.
Upon applying, you want to have all of your information conveniently in one place to ensure the process moves smoothly. Get all of your documents together and double check that you aren’t forgetting anything.
Now, you should be all set to start applying for the best credit card for you.
If you want to improve your chances of getting approved for a credit card, you’ll want to check beforehand that you are in the ideal credit score range for the card. Not all credit cards are suited for everyone, which is why doing your research and making a list of your needs is so important.
Unless you have a history of poor credit behavior, you should have a fairly simply experience getting approved for a credit card. If you do struggle with bad credit, make sure you are applying to cards that assist people with improving their scores.
If you are just getting started with credit cards, you might want to get a general card that has a low annual fee and offers rewards for everyday purchases. For younger individuals, it might be best to start with a student credit card that has a lower limit cap.
Once you have experience with credit cards, there are opportunities to get travel cards, business cards, hotel cards, and restaurant cards that all cater to different rewards systems.
If you know that you spend a lot of time and money doing certain things (i.e flying on a plane) then you’ll want to find a card benefits you in that way. For anyone that already has good or excellent credit, it will be easier to choose from a variety of credit cards online today.
What is a beginner credit card?
A beginner credit card is set up with new cardholder in mind. There are usually lower fees and cash limits, as well as a simple user-friendly system. Cardholders can focus on paying off their balance on time and receive a boosted credit score in return.
What’s the meaning of credit card?
A credit card is issued by a bank or financial company that gives cardholders the ability to borrow funds to pay for a variety of goods. In return, they are expected to follow the issuers terms and conditions while making regular payments.
What kind of credit card is easy to get?
Secured credit cards are the easiest types of cards to get, especially if you have limited or poor credit history. Cardholders have to pay a security deposit that operates as collateral for the lender to cover potential risk.
How can I qualify for a credit card?
If you want to qualify for a credit card, you’ll have to be eighteen years or older. In most cases, you’ll want to be bringing in some form of income and have a positive credit history. If you are struggling to qualify, consider having a co-signer. Lastly, you want to pay down your existing debt and save up a security deposit in case it’s needed upon application.
Can I get a credit card online?
Yes, you can get a credit card online today. There are a variety of issuers that will allow you to apply online in a matter of minutes and receive your physical card in the mail.
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