SmartAsset’s Best Credit Cards of 2017

Benefits

If you dream of taking off to exotic locations around the world, the British Airways Visa Signature® Card belongs in your wallet. With a massive 50,000-point Avios bonus after spending $3,000 in the first 3 months after opening a new account, you’ll be off to Europe, or anywhere else you want to visit, in no time! Earn 3 Avios (British Airways name for miles) per dollar spent on British Airways purchases and 1 Avios per dollar everywhere else. Plus enjoy no annual fee, travel and purchase coverage, and a free companion “travel together” ticket after spending $30,000 on the card in a calendar year.

Things to Consider

This card charges a $95 annual fee, not waived the first year. Variable purchase and balance transfer APR ranges from a 16.99%-23.99% Variable based on your credit and market factors. Cash advances charge a 25.99% Variable APR. Balance transfers and cash advances require a 5% fee ($5 minimum for balance transfers and $10 minimum for cash advance). Late and returned payments charge up to $37 depending on the payment amount.

Our Verdict

British Airways is a high-quality airline, and with a 50,000-point bonus this is our favorite airline credit card available today. Not only can you use your points to jet off to London and other destinations served by British Airways, you can use the points to book flights on Oneworld® partner airlines like American Airlines, Qantas, Iberia, Japan Airlines, and more. No matter where you want to fly, the British Airways Visa Signature® Card can get you there.

Benefits

Chase Slate® is one of very few credit cards that offers interest-free promotional financing on balance transfers with no balance transfer fee. New accounts receive 15 months of 0% intro APR financing on both new purchases and balance transfers, with no fee for transfers completed within 60 days of account opening. After 60 days, the balance transfer fee will be either $5 or 5% of the amount of each transfer, whichever is greater. Other benefits include a free monthly FICO® score, as well as activity alerts and fraud protection. There's no annual fee for this card, and the standard interest rate is a 15.99%-24.74% Variable APR, depending on your creditworthiness at the time you apply. This card also has a 3% foreign transaction fee.

Things to consider

A balance transfer offer like this is a great way to save money on interest charges while you pay off your debt. But if you use these offers to postpone repayment, you could find yourself with even more debt in the future.

Our verdict

Nearly all other credit cards that offer 0% APR balance transfers will impose a balance transfer fee of either 3% or 5%, which could cost you hundreds of dollars.

Benefits

New cardholders receive 21 months of 0% APR promotional financing on both new purchases and balance transfers, with a $5 or 3% balance transfer fee (whichever is greater). This card also lives up to its name by having no late fees and no penalty interest rate.

Other benefits include extended warranty coverage and Citi's Price Rewind service which can automatically offer you a refund when the price drops on an eligible purchase. You also get worldwide car rental insurance and 24/7 travel and emergency assistance. The standard interest rate for purchases is 14.49% - 24.49% Variable APR, depending on your creditworthiness when you apply. There's no annual fee for this card but there is a 3% foreign transaction fee.

Things to consider

Even when you have no late fees and no penalty interest rate, you still need to make sure you make all of your monthly payments on time. Missing payments will still cost you additional interest charges and can hurt your credit score.

Our verdict

This is one of the longest interest-free financing offers available from any credit card, and it's always nice to see a card with no late fee and no penalty interest rate.

Benefits

If you love to travel and want flexible rewards you can use with any hotel or airline, the Chase Sapphire Preferred® Card is a top choice. With 50,000 bonus points after spending $4,000 on purchases in the first 3 months you have the card, you’ll be on your way to a free trip in no time! Plus, earn 2x points per dollar when spending on travel or dining at restaurants worldwide. You can redeem points with no restrictions or blackout dates through the Chase Ultimate Rewards® portal or transfer 1:1 to partners like United Airlines, Southwest Airlines, and Marriott. This card can take you anywhere in the world, and you can use it anywhere thanks to no foreign exchange fee. The Chase Sapphire Preferred® Card includes travel and purchase benefits like rental car insurance and purchase protection so you can confidently use this card for all your spending needs.

Things to Consider

The Chase Sapphire Preferred® Card charges a $95 annual fee, $0 introductory for the first year. The card charges 16.99% - 23.99% Variable APR on purchases and balance transfers based on your credit history and market rates. Balance transfers incur a 5% or $5 fee (whichever is greater) and cash advances incur a 5% or $10 fee (whichever is greater). Late payments and returned payments cost up to $37.

Our Verdict

With easy-to-earn rewards you can use to fly or stay almost anywhere, this is our favorite rewards credit card. At the Ultimate Rewards® portal get 25% bonus points on redemptions or transfer your miles to get even more value on reward redemptions. With great customer service, valuable rewards, and extensive benefits, this is an amazing card for travel enthusiasts.

Benefits

If you're looking to earn cash back, the Costco Anywhere Visa® Card by Citi is a great option. Earn 4% cash back on eligible gas purchases, including at Costco, up to $7,000 in purchases per year. Earn 3% cash back on restaurant and eligible travel purchases. Get 2% cash back at Costco and Costco.com. Earn 1% everywhere else. This is a powerhouse cash back credit card! And for Costco members, there's no annual fee. Plus enjoy purchase and travel protection at no extra charge. Enjoy 0% APR on all purchases for 7 months after opening a new account.

Things to Consider

While this card does not charge an annual fee, it does require a Costco membership which starts at $55 per year. After the 7-month 0% APR period ends, the card charges 16.24% variable rate APR on purchases. Your rate will adjust with the Prime Rate. Cash advances and balance transfers charge additional fees. Pay 3% when making foreign purchases (Costco fees waived). The card charges up to $37 for late payments and returned payments.

Our Verdict

This is our favorite card for cash back. If you are an existing Costco member, the card charges no additional annual fee and you can earn valuable cash back everywhere you shop. Whether you are buying gas, dinner, plane tickets, or anything else, you will get cash back every time you swipe your card. With benefits so valuable and no annual fee, signing up for the Costco Anywhere Visa® is an easy decision.

Benefits

Most cards offer you cash back rewards when you make your purchase, but Citi® Double Cash Card pays you twice! Earn 1% cash back every time you make a purchase and another 1% cash back when you pay your bill. That gives you an effective 2% cash back on every purchase. Plus, enjoy an impressive 18-month 0% APR introductory period on balance transfers and pay the standard purchase APR thereafter. With no limits to what you can earn and standard benefits like travel insurance and purchase protection, this card is a great choice. All this with no annual fee!

Things to Consider

To qualify for 0% intro APR for 18 months, balance transfers much be completed within four months of opening a new account. Purchase and balance transfer 14.49% - 24.49% Variable APR based on your credit history and market interest rates. 26.24% variable cash advance APR and up to 29.99% variable penalty APRs may apply. Pay 3% ($5 minimum) for balance transfers and 5% ($10 minimum) for cash advances. Foreign purchases charge a 3% fee. No late payment fee for first late payment, $35 for second and subsequent late payments. Up to $35 returned payment fee.

Our Verdict

With 2% cash back and no limit to what you can earn, the Citi® Double Cash Card is our favorite no annual fee card with cash back. Earning 2% everywhere you spend can add up fast. You’ll have enough for a big redemption before you know it! And with an 18-month 0% APR on balance transfers, you can save big on other outstanding balances while earning valuable cash back. With no annual fee, this is an amazing cash back credit card and tops our list!

Benefits

The Chase Sapphire Reserve℠ currently offers new applicants 50,000 bonus points after spending $4,000 on new purchases within 3 months of account opening. These points can be redeemed for 1.5 cents each toward reservations booked through the Chase Ultimate Rewards® travel center, or transferred to airline miles or hotel points.

You earn 3x rewards on travel and dining charges, and 1 point per dollar spent elsewhere. Benefits include a $300 annual travel statement credit and a Priority Pass Select airport lounge membership. There's a $450 annual fee for this card, and no foreign transaction fees.

Things to consider

Obviously $450 is a lot to spend for a credit card, but you also have to take into account the $300 annual travel statement credit, which you can receive each calendar year, or twice in your first year as a cardmember.

Our verdict

Chase Sapphire Reserve℠ is the best premium travel rewards card as it offers superior rewards and benefits as compared to its competitors at this price point.

Benefits

This secured card is offered to applicants with nearly any credit profile. Once approved, you will need to submit a refundable security deposit of $200 or more, which becomes your credit limit. After that, the card works similar to an unsecured credit card (though it is a secured card). You will receive a monthly statement and must make a payment before the due date. With on-time payments, you can expect your credit score to rise, and you can track your progress with access to your FICO® credit score for free.

At the same time, you also get all of the rewards and benefits you would expect from a Discover card. Rewards include 2% cash back at restaurants or gas stations on up to $1,000 in combined purchases each quarter, and 1% cash back on everything else. Discover will even match your rewards earned at the end of the first year of your account. There's no annual fee for this card and the standard interest rate for purchases is 23.99% Variable APR.

Things to consider

The amount of your credit line will be determined by your security deposit. If you deposit $500, then you will have a credit line of $500. Nevertheless, you will still have to make monthly payments.

Our verdict

This is one of the few secured cards that offers rewards and has no annual fee. If you need to rebuild your credit, this is an excellent option.

Benefits

New applicants can earn 80,000 bonus points after spending $5,000 on purchases within 3 months of account opening. You also earn 3 points on your first $150,000 spent each cardmember year on combined purchases in select categories such as travel, shipping, Internet service, cable and phone services, and on advertising purchases made with social media sites and search engines. You earn 1 point per dollar spent on all other purchases.

Points are earned in the Chase Ultimate Rewards® program and can be redeemed for 1.25 cents each towards travel reservations, or transferred to airline miles or hotel points. This card also features numerous travel insurance and purchase protection policies such as trip delay reimbursement, return protection and cell phone protection. There's a $95 annual fee for this card and no foreign transaction fees.

Things to consider

This small business card has an impressive sign-up bonus, but it doesn't have any of the 5x categories that were featured on previous Chase Ink cards.

Our verdict

This is a fantastic small business card, especially for those with companies that have a lot of expenses that will qualify to earn 3 points.

Benefits

As a college student, you are perpetually handed credit card offers while walking around campus. But knowing the right card to choose can be tough. Discover it® for Students is a great option for any student. With no annual fee, earn 5% cash back in popular rotating categories and 1% cash back everywhere else. If you are living on a college student budget, you know how much cash back is worth! Recent 5% bonus categories include restaurants, gas stations, wholesale clubs, and Amazon.com. Plus, pay 0% APR for purchases in the first 6 months after opening a new account.

Things to Consider

While 0% APR is a great starting offer, it doesn’t last forever. After the 6-month intro period, pay 13.99% - 22.99% Variable APR for purchases. This is a variable rate based on your credit history and market interest rates. Balance transfers charge 10.99% APR for the first 6 months. After 6 months, balance transfers charge the standard purchase APR of 13.99% - 22.99% Variable. Additional fees apply for cash advances, balance transfers, late payments, and returned payments.

Our Verdict

Going off to college means lots of firsts, including your first credit card. If you are looking for the best credit card for yourself or the college student in your life, Discover it® for Students is the best choice. With up to 5% cash back where students spend most, you will enjoy earning cash back every time you swipe your card.