2024’s Must-Have Credit Cards: Expert Picks
There are many great credit cards in 2024 that offer special benefits. Here are some of the best ones,
There are many great credit cards in 2024 that offer special benefits. Here are some of the best ones, each for different needs, such as travel, cash back, or low fees.
Chase Sapphire Preferred® Card – Best for Travel
The Chase Sapphire Preferred® Card is one of the most liked travel cards. Here’s why people like it:
- Earn Points: You get 5x points on travel through Chase, 3x points on dining, and 2x points on other travel costs.
- Bonus: You can get 60,000 bonus points after spending $4,000 in the first 3 months. These points are worth $750 in travel through Chase.
- Fee: This card has a $95 yearly fee, which is worth it for frequent travelers.
This card is perfect for people who love traveling and want the most rewards for flights, hotels, and dining. It’s also good for those who want to use points without worrying about blackout dates.
Discover it® Cash Back – Best for Cash Back
The Discover it® Cash Back card is great for getting cash back, especially for people who want no yearly fees. Here’s what makes it stand out:
- 5% Cash Back: You can earn 5% cash back on things you buy every day in rotating categories like groceries, restaurants, and gas stations. These categories change every 3 months, and you have to activate them.
- Cashback Match: Discover will match all the cash back you earned at the end of your first year. This means your rewards can double.
- Fee: This card has no yearly fee.
This card is good for people who want lots of cashback and don’t mind tracking different categories. Since there’s no yearly fee, it’s great for those who wish to rewards without extra costs.
Capital One Venture Rewards Credit Card – Best for Easy Travel Rewards
For people who want simple travel rewards, the Capital One Venture Rewards Credit Card is a great choice. Here’s why:
- 2x Miles on Everything: You get 2x miles on everything you buy, no matter where you use the card.
- Bonus: You can earn 75,000 miles after spending $4,000 in the first 3 months, which you can use for travel.
- Fee: This card has a $95 yearly fee.
This card is great for people who don’t want to worry about special categories and just want to earn rewards on all purchases. It’s especially useful for frequent travelers who want to collect miles quickly.
Blue Cash Preferred® Card from American Express – Best for Groceries and Gas
The Blue Cash Preferred® Card from American Express is ideal for families or people who spend a lot on groceries and gas. Here’s why it’s a good choice:
- 6% Cash Back on Groceries: You earn 6% cash back on up to $6,000 a year at U.S. supermarkets.
- 3% Cash Back on Gas: You also get 3% cash back on gas and for public transport costs like buses and rideshares.
- Fee: This card has a $95 yearly fee.
This card is great for people who spend a lot on groceries and gas, making it an excellent option for families or commuters.
Chase Freedom Unlimited® – Best for Flexible Rewards
The Chase Freedom Unlimited® card is a good all-around card, especially for those who want flexibility in rewards. Here’s what it offers:
- Cash Back on Everything: You get 5% on travel through Chase, 3% on dining and drugstores, and 1.5% on all other purchases.
- No Yearly Fee: This card has no yearly fee, which is great for those who want rewards without paying extra.
The Chase Freedom Unlimited® is good for people who want a simple rewards card with good cash back and no yearly fee.
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How to Pick the Right Credit Card
Picking the right credit card depends on how you spend and your financial goals. Here are some things to think about:
- How You Spend Money: Think about where you spend the most. Do you spend a lot on groceries, travel, or eating out? Pick a card that gives rewards in those areas.
- Yearly Fees: Some cards have yearly fees, but they can be worth it if you earn more rewards than the fee costs. Make sure to calculate if the rewards cover the fee.
- Interest Rates: If you plan to carry a balance, choose a card with a low interest rate. Some cards offer 0% APR for a period, which can help if you need time to pay off a big purchase.
By thinking about these things, you can pick a card that fits your lifestyle and helps you earn rewards.
Benefits of Using Credit Cards
There are many good reasons to use credit cards carefully. Here are some main benefits:
- Build Credit: Using a credit card responsibly helps you build a good credit score. This is important if you want loans or to rent an apartment.
- Get Rewards: Many credit cards give rewards like cash back or travel points. Using your card for everyday purchases can help you earn these rewards over time.
- Protection from Fraud: Credit cards often come with protection, so if your card is lost or stolen, you won’t have to pay for charges you didn’t make.
- Convenience: Credit cards are convenient because you don’t need to carry cash, and many offer mobile payment options.
Common Mistakes to Avoid
While credit cards have many benefits, it’s important to avoid mistakes that can cause money problems. Here are some mistakes to watch for:
- Carrying a Balance: One of the biggest mistakes is carrying a balance month to month. High interest rates can add up fast, making it hard to pay off.
- Missing Payments: Missing a payment can hurt your credit score and lead to late fees. It’s important to pay at least the minimum by the due date.
- Overspending: It’s easy to spend too much with a credit card since you’re not using physical money. Stick to your budget and only buy what you can pay off.
