The Ultimate Guide to Credit Cards
Thursday, April 2, 2020
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Best Credit Cards of 2020

Below are ratings of 2020's best credit card offers in the US based on interest rates, rewards deals, and approval rate. Compare top credit card reviews and apply for a new card online.

Average APR
17.04%
Average Annual Fee
$28.80
Rate Trend
0.05%
since last month
All Cards | Air | Cash Back | 0% Intro | 0% Bal Transfer | Points | Business | Secured | Student | Fair Credit | Limited / No Credit
Advertiser Disclosure

2020's Best Credit Card

Chase Freedom Unlimited®

  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • Earn unlimited 1.5% cash back on all purchases.
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.49 - 25.24%.
  • 3% intro balance transfer fee when you transfer a balance during the first 60 days your account is open, with a minimum of $5
  • No annual fee
  • Chase is not an affiliate partner with CardRates and does not review editorial content on our site
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR on Purchases 15 months
0% Intro APR on Balance Transfers 15 months
16.49% - 25.24% Variable
$0
Good/Excellent

#1 in "Air Miles"

Capital One® Venture® Rewards Credit Card

Capital One® Venture® Rewards Credit Card Review

at Capital One'ssecure website

AIR MILES RATING

★★★★★

5.0

OVERALL RATING

4.9/5.0
  • Enjoy a one-time bonus of 50,000 miles once you spend $3,000 on purchases within 3 months from account opening, equal to $500 in travel
  • Earn unlimited 2X miles on every purchase, every day.
  • Miles won't expire for the life of the account and there's no limit to how many you can earn
  • Receive up to $100 application fee credit for Global Entry or TSA Pre✔®
  • Fly any airline, stay at any hotel, anytime; no blackout dates. Plus transfer your miles to over 15+ leading travel loyalty programs
  • No foreign transaction fees
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
17.24% - 24.49% (Variable)
$0 intro for first year; $95 after that
Excellent, Good

#1 in "Cash Back"

Chase Freedom Unlimited®

CASH BACK RATING

★★★★★

5.0

OVERALL RATING

5.0/5.0
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • Earn unlimited 1.5% cash back on all purchases.
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.49 - 25.24%.
  • 3% intro balance transfer fee when you transfer a balance during the first 60 days your account is open, with a minimum of $5
  • No annual fee
  • Chase is not an affiliate partner with CardRates and does not review editorial content on our site
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR on Purchases 15 months
0% Intro APR on Balance Transfers 15 months
16.49% - 25.24% Variable
$0
Good/Excellent

#1 in "0% Intro APR"

Chase Freedom Unlimited®

0% INTRO APR RATING

★★★★★

4.9

OVERALL RATING

5.0/5.0
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • Earn unlimited 1.5% cash back on all purchases.
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.49 - 25.24%.
  • 3% intro balance transfer fee when you transfer a balance during the first 60 days your account is open, with a minimum of $5
  • No annual fee
  • Chase is not an affiliate partner with CardRates and does not review editorial content on our site
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR on Purchases 15 months
0% Intro APR on Balance Transfers 15 months
16.49% - 25.24% Variable
$0
Good/Excellent

#1 in "0% Balance Transfer"

Chase Freedom Unlimited®

0% BALANCE TRANSFER RATING

★★★★★

4.8

OVERALL RATING

5.0/5.0
  • Earn a $150 Bonus after you spend $500 on purchases in your first 3 months from account opening.
  • Earn unlimited 1.5% cash back on all purchases.
  • 0% Intro APR for 15 months from account opening on purchases and balance transfers, then a variable APR of 16.49 - 25.24%.
  • 3% intro balance transfer fee when you transfer a balance during the first 60 days your account is open, with a minimum of $5
  • No annual fee
  • Chase is not an affiliate partner with CardRates and does not review editorial content on our site
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
0% Intro APR on Purchases 15 months
0% Intro APR on Balance Transfers 15 months
16.49% - 25.24% Variable
$0
Good/Excellent

#1 in "Points & Gifts"

Chase Sapphire Preferred® Card

POINTS & GIFTS RATING

★★★★★

4.9

OVERALL RATING

4.8/5.0
  • Earn 60,000 bonus points after you spend $4,000 on purchases in the first 3 months from account opening. That's $750 toward travel when you redeem through Chase Ultimate Rewards®
  • 2X points on travel and dining at restaurants worldwide & 1 point per dollar spent on all other purchases.
  • Get 25% more value when you redeem for airfare, hotels, car rentals and cruises through Chase Ultimate Rewards. For example, 60,000 points are worth $750 toward travel
  • Get unlimited deliveries with a $0 delivery fee and reduced service fees on orders over $12 for a minimum of one year on qualifying food purchases with DashPass, DoorDash's subscription service. Activate by 12/31/21.
  • Earn 5X points on Lyft rides through March 2022. That's 3X points in addition to the 2X points you already earn on travel.
  • Chase is not an affiliate partner with CardRates and does not review editorial content on our site
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
17.49% - 24.49% Variable
$95
Good/Excellent

#1 in "Business"

Ink Business Preferred® Credit Card

BUSINESS CARD RATING

★★★★★

4.9

OVERALL RATING

4.8/5.0
  • New Offer! Earn 100k bonus points after you spend $15,000 on purchases in the first 3 months from account opening. That's $1,250 toward travel when redeemed through Chase Ultimate Rewards®
  • Earn 3 points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year
  • Earn 1 point per $1 on all other purchases - with no limit to the amount you can earn
  • Points are worth 25% more when you redeem for travel through Chase Ultimate Rewards
  • Redeem points for travel, cash back, gift cards and more - your points don't expire as long as your account is open
  • No foreign transaction fees
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
17.49% - 22.49% Variable
$95
Good/Excellent

#1 in "Secured"

Capital One® Secured Mastercard®

Capital One® Secured Mastercard® Review

at Capital One'ssecure website

SECURED RATING

★★★★★

4.9

OVERALL RATING

4.0/5.0
  • No annual fee, and all the credit building benefits with responsible card use
  • Unlike a prepaid card, it builds credit when used responsibly, with regular reporting to the 3 major credit bureaus
  • Access to an authorized bank account is required to make your $49, $99 or $200 refundable security deposit
  • Make the minimum required security deposit and you'll get an initial credit line of $200. Plus, deposit more money before your account opens to get a higher credit line
  • Get access to a higher credit line after making your first 5 monthly payments on time with no additional deposit needed
  • Easily manage your account 24/7 with online access, by phone or using our mobile app
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
26.99% (Variable)
$0
Limited, Bad

#1 in "Fair Credit"

Capital One® Platinum Credit Card

Capital One® Platinum Credit Card Review

at Capital One'ssecure website

FAIR CREDIT RATING

★★★★★

4.8

OVERALL RATING

3.8/5.0
  • Pay no annual fee
  • Get access to a higher credit line after making your first 5 monthly payments on time
  • Fraud coverage if your card is lost or stolen
  • Use online banking to access your account, even from your smartphone, with our mobile app
  • Pay by check, online or at a local branch, all with no fee - and pick the monthly due date that works best for you
  • Get access to your account 24 hours a day, 7 days a week
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
26.99% (Variable)
$0
Average, Fair, Limited

#1 in "No/Limited Credit"

Capital One® Platinum Credit Card

Capital One® Platinum Credit Card Review

at Capital One'ssecure website

NO/LIMITED CREDIT RATING

★★★★★

4.8

OVERALL RATING

3.8/5.0
  • Pay no annual fee
  • Get access to a higher credit line after making your first 5 monthly payments on time
  • Fraud coverage if your card is lost or stolen
  • Use online banking to access your account, even from your smartphone, with our mobile app
  • Pay by check, online or at a local branch, all with no fee - and pick the monthly due date that works best for you
  • Get access to your account 24 hours a day, 7 days a week
Intro (Purchases)
Intro (Transfers)
Regular APR
Annual Fee
Credit Needed
N/A
N/A
26.99% (Variable)
$0
Average, Fair, Limited

Review Breakdown: Best Credit Cards

What is the best credit card to have for 2020? Below is a simple summary of our top credit card reviews, along with current features for each offer. Simply click the card name to visit the issuer's official site and apply for the card that's right for you.

Here are the best credit cards of 2020:

Best Credit Cards 2020
Best ForCard NameFeatureExpert Rating
Best OverallChase Freedom Unlimited®1.5% cash back ★★★★★ 5.0
Air MilesCapital One® Venture® Rewards Credit CardFly any airline ★★★★★ 5.0
Cash BackChase Freedom Unlimited®1.5% cash back ★★★★★ 5.0
0% Intro APRChase Freedom Unlimited®0% Intro APR for 15 months ★★★★★ 4.9
0% Balance TransferChase Freedom Unlimited®0% Intro APR for 15 months ★★★★★ 4.8
Points & GiftsChase Sapphire Preferred® Card2X points ★★★★★ 4.9
BusinessInk Business Preferred® Credit Card3 points per $1 ★★★★★ 4.9
SecuredCapital One® Secured Mastercard®No annual fee ★★★★★ 4.9
Fair CreditCapital One® Platinum Credit CardPay no annual fee ★★★★★ 4.8
No/Limited CreditCapital One® Platinum Credit CardPay no annual fee ★★★★★ 4.8

4 Tips for Choosing the Best Credit Card

Brittney Mayer
By: Brittney Mayer
Finance Contributor
Updated:
4 Tips for Choosing the Best Credit Card
CardRates.com Guide: Best Credit Cards

With literally hundreds of credit cards available on the market today — thousands if you include local credit unions and community bank cards — it may be hard to decide which piece of plastic is right for your wallet. When it comes time to select your next credit card, use these tips to help you choose the one — or more — for your needs.

1. Determine Your Goals

It’s important to know what you want out of a credit card. Do you want to score free flights? Are you interested in earning cash back? Are you looking more for a safety net when cash is low? Or perhaps you want to consolidate high-interest debt from other cards?

Depending on your goals — and, particularly, whether you plan to carry a balance — your needs will be very different. Rewards cards tend to have higher interest rates than non-rewards cards, making them less-than-ideal for carrying balances from month to month.

If you are only interested in transferring a balance or plan to carry a large balance, you may be better off applying for a card without rewards or an annual fee. In exchange for rewards, these cards offer low interest rates, making them the preferred choice if you know you’ll roll a balance over from time to time.

Better, choose a card with an introductory 0% APR offer to get interest-free financing for 12 months or more.

2.  Decide Which Kind of Rewards You Want

If you’ve decided to go with a rewards card, you have several options.

There are cash back credit cards, where you earn a percentage of your spending back in cash. There are points credit cards, where you earn points based on the dollar amount you spent. These can usually be redeemed for cash back, gift cards, travel, merchandise, events and more. Then there are air miles credit cards, where your rewards are free flights or hotel stays.

Credit Card Rewards Comparison Chart

Selecting the right rewards card for you will come down to your spending habits and lifestyle. If you spend a lot on dining out and entertainment, select a card that offers a high rewards rate for those purchases. There's a card with a bonus category for nearly any type of purchase, as well as cards with high unlimited rates.

No matter which type of rewards card you select, make sure you never charge more than you can afford to repay. Carrying a balance from month to month will result in interest fees — unless you have an active 0% APR offer — which will almost always be more expensive than the rewards you earn.

3. Consider Introductory Offers

While you can easily avoid paying interest charges on your credit card purchases by paying your balance in full each billing cycle, some purchases simply take longer to repay than others. In these cases, credit cards that offer introductory 0% APR offers can be extremely valuable. Thanks to the Credit CARD Act of 2009, these introductory offers must be at least six months long, with some of the best offers providing interest-free financing for 12 months or more.

Most intro-APR deals are good on new purchases, though many will also apply to balance transfers. If you already have credit card debt and want to reduce your interest fees, transferring the balance to a card with a 0% APR deal can create instant savings, helping you pay down your debt faster.

Chart of Potential Balance Transfer Savings

Keep in mind that many cards will charge a balance transfer fee, so read the terms and conditions carefully to know if you’ll be charged a fee.

4. Figure Out the Fees

It’s important to determine which credit card fees will be worth it for you. It is common for rewards cards to have annual fees, though most issuers now have two tiers of cards: one card with no annual fee and lesser rewards or a low APR and one card with an annual fee (often close to $100 or more) but with better rewards.

Before you get a card with an annual fee, do the math to make sure the rewards and benefits will add up enough that the fee is worth it. If you won’t be able to earn enough rewards to cover the cost of the annual fee, it isn’t worth it.

Required Spend to Make Up Annual Fee with 1% Rate Differential

For example, you may find a credit card with no annual fee that offers 3% cash back on dining purchases, and then another tier with a $95 annual fee that offers 4% cash back on dining purchases. If you spend enough on dining each year that the higher rewards rate will earn you a better net return, then the annual fee may be worth paying.

Of course, annual fees aren’t the only credit card feeds you may need to pay. Interest fees are a part of credit card life, so a low APR is a big boon if you may carry a balance. Additionally, certain transaction types, like cash advances and balance transfers, also tend to come with fees on most cards.

Editorial Note: Opinions expressed here are author's alone, not those of any bank, credit card issuer, airlines or hotel chain, and have not been reviewed, approved or otherwise endorsed by any of these entities.

The information on this page was reviewed for accuracy on .

About the Author

Brittney Mayer Brittney Mayer Finance Contributor

Brittney is a Credit Strategist and Finance Expert who has spent years honing her knowledge of the credit industry both personally and professionally. Brittney applies her more than a decade of research experience to crafting in-depth consumer guides designed to help CardRates readers make better, more informed financial decisions.

Advertiser Disclosure: The credit card offers that appear on this site are from credit card companies from which CardRates.com receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). CardRates.com does not include all credit card companies or all available credit card offers. See the credit card issuer's website for specific terms and conditions of each card.