Edvisors rates credit cards objectively based on credit card features, fees and interest rates, as well as how a credit card compares with similar cards within the same category. "Best" determinations are solely the opinion of Edvisors.
When looking for a new credit card opportunity, it is not enough to search for the best credit cards. You will need to know what is expected of the applicant, and you will also need to define what you expect from the issuer. Most credit card companies expect applicants to meet specific credit requirements and, if approved, to pay their bills on time. Alternatively, as a consumer, you might want a credit card issuer to not only provide opportunities to build or establish credit but to earn cashback or other rewards. Consequently, the relationship between a credit card issuer and holder is give-and-take, but arguably, the cardholder has the potential for greater gains. Speaking of gains, the most significant factor in the type of credit card you receive is your personal credit history.
Which credit card is right for me? As you scour through the multitude of potential credit card opportunities, you will want to figure out what are the credit history and credit score requirements are for approval. If you apply for several cards willy-nilly, you are likely to damage your FICO® credit score by applying for cards you do not qualify for or, upon further review, do not want. Creditworthiness typically falls into five categories: credit-building, poor credit, fair credit, good credit, and excellent credit.
Best Credit Card for Credit-Building
Deserve EDU Mastercard for Students.
For people wishing to build or establish credit, the hunt for cards can be difficult. However, there are several decent options, including the Deserve EDU Mastercard for Students. While this Mastercard does not have extensive benefits and comes with a high variable APR, it does provide the opportunity to establish credit quickly. Additionally, cardholders will receive 1% cashback on all purchases. Some additional benefits and information include:
- No annual fee
- Cell phone protection up to $600
- Apply with no impact to current credit score
- No international transaction fees
Best Credit Card for Poor Credit
Credit One Bank Platinum Visa for Rebuilding Credit
Life is unpredictable, and sometimes financial woes negatively affect a person’s credit standing. Whether due to job loss, illness, or other uncontrollable circumstances, even those with poor credit can find opportunities to re-establish their FICO® credit scores. One of the best cards for rebuilding your credit is the Credit One Bank Unsecured Visa.
This credit card is considered a card for people with a FICO® score that is between bad and fair (300 to 670). Unfortunately, the APR is consistent with the perceived credit risk of the applicant. Consequently, the interest is variable and fluctuates somewhere between 17.99% to 23.99%. Additionally, depending on your FICO® credit score, the annual fee will fall somewhere between $75 and $99. Other highlights of the card include:
- 1% Cashback on eligible purchase
- No deposit
- Choice of the due date
- Automatic reviews for limit increases
Best Credit Card for Fair Credit
Jasper Cash Back Mastercard
If your current FICO® credit score is between 580 and 740, you might want to apply for the Jasper Cash Back Mastercard, one of the best credit cards for people with fair credit. The credit card has a unique refer-a-friend promotion that can boost the 1% cashback rate to 6% for an entire year. You will also receive cashback on every statement after three consecutive on-time payments.
Are you looking for a card with no annual fee to boost your credit score? Check out the benefits of the Jasper Mastercard:
- Variable APR between 15.49% and 24.99%
- Earn on nearly all purchases
- No security deposit required
- Up to 6% cashback based on referrals
Best Credit Card for Good to Excellent Credit
Blue Cash Everyday Card from American Express
The Blue Cash Everyday Card from American Express is one of the best credit cards for people with good to excellent FICO® credit (670 to 850). While not all will qualify for this credit card, it is an excellent gas and groceries card, especially since you can earn up to 3% (on up to $6,000 per year in purchases) cashback at U.S. supermarkets.
The initial offer for the card is earning $200 back upon spending $2,000 in card purchases within the first 6 months of membership. The primary benefits of this American Express Card with a variable APR between 13.99% and 23.99% include:
- Introductory 0% APR for the first 15 months (after that, your variable APR will be between 13.99% to 23.99%, based on your creditworthiness)
- $0 Annual fee
- 3% Cashback U.S. supermarkets, 2% at U.S. gas stations and select department stores, and 1% on other eligible purchases
- Plan It for splitting larger purchases with a fixed fee
Best Credit Card for Excellent Credit
Capital One SavorOne Cash Rewards Card
Those who fall into the excellent credit category, typically with FICO® credit scores of 800 or more, will find their credit card options growing exponentially. People with excellent credit present little risk to credit card issuers; consequently, those with the best credit will usually receive the best or most lucrative benefits.
The best credit card for those with a good to excellent FICO® credit score (670 to 850) and who like dining and entertainment is the Capital One SavorOne Cash Rewards Credit Card. You can earn 8% cashback on purchases from Vivid Seats through 2023 and enjoy unlimited 3% cashback on entertainment, dining, streaming services, and many grocery stores.
As a welcome, the credit card issuer is offering a $200 cash bonus within the first 3 months of opening an active account as a cardholder, after spending $500. The other card fundamentals include:
- 14.99% to 24.99% variable APR
- 0% Introductory APR for the first 15 months (after that, your variable APR will be 14.99%, 20.99% or 24.99%, based on your creditworthiness
- $0 Annual Fee
- No expiration and no limit on cashback
Citi Custom Cash Card
Another option for those with excellent FICO® credit is the Citi Custom Cash Card. With the welcome offer of $200 cashback after spending $750 within the first three months of opening an active account, the Citi Card provides a similar enticement to the Capital One card.
The Citi card also offers 5% cashback on an eligible spending category during each billing cycle. However, there are restrictions. Once you spend $500, the cashback offer drops to 1%. Some additional information to keep in mind about this card includes:
- 13.99% to 23.99% variable APR
- 0% Introductory APR for the first 15 months (after that, your variable APR will be between 13.99%, to 23.99%, based on your creditworthiness
- No annual fee
- No rotating bonus categories
While the top credit cards are often reserved for those with the highest credit scores, nothing is stopping you from applying to a quality option, just review your acceptance odds before risking a credit report ding. Most credit card issuers understand that people can fall on hard times or make mistakes, which is why each company often offers cards for various credit scores, giving everyone a chance to build, maintain, and establish their credit.