If you haven’t opened a new credit card within the past few years, you may be doing yourself a disservice. That’s because credit card issuers are always revising cards to earn users better rewards and more perks. So while your card earning 1% on all purchases may have been the best of the best four years ago, it’s now no longer something to write home about. To help you get the most in rewards and perks, we’ve detailed five credit cards that are likely better than your current card.
If your current credit card is earning you cash back at grocery stores, it’s almost guaranteed that it’s not earning you nearly as much as the Blue Cash Preferred Card from American Express (a NextAdvisor advertiser). That’s because this card earns 6% at U.S. supermarkets for up to $6,000 per year in purchases (then 1%), 3% at U.S. gas stations and select U.S. department stores and 1% on all other purchases. The best part about these rewards is you earn them automatically — there’s no need to enroll every quarter like with some other cards. Next, if you spend $1,000 with you card in the first three months of membership, you’ll earn $150 back (in the form of statement credit)! To top it off, the Blue Cash Preferred Card also has a 12-month 0% intro APR on purchases and balance transfers (then a variable rate applies). It should be noted that this card has a $95 annual fee. If the annual fee is a deal breaker, you’ll want to check out its sister card, the Blue Cash Everyday Card from American Express, as it earns comparable rewards.
The Citi Double Cash Card (a NextAdvisor advertiser) is still relatively new to the world of credit cards, as it was launched in September of 2014, and it earns you rewards in a rather unique manner. Unlike your current rewards credit cards that only gets you rewards for spending, the Citi Double Cash Card also earns you rewards when you pay your bill. Yes, you read that correctly — you earn rewards for paying your bill. Here’s how it works: You’ll earn 1% cash back when you make a purchase with the card and another 1% cash back when you pay for those purchases, regardless of whether you pay in full or over time. This means you’ll earn an effective 2% cash back without category restrictions, spending caps and having to enroll in rotating categories. Add in no annual fee and an 18-month 0% intro APR balance transfers (with a balance transfer fee of either $5 or 3% of the amount of each transfer), and you have a pretty great rewards card.
While it’s no newbie to the market, Chase Slate was revamped last April with a new look and some updated perks for anyone looking to complete a balance transfer. With Chase Slate you’ll get a 15-month 0% intro APR on purchases and balance transfers as well as a $0 intro balance transfer fee for transfers made during the first 60 days of account opening, saving you either $5 or 5% of the amount of each transfer (whichever is greater). And unlike most of the other cards on this list that require an “excellent” credit rating for approval, you only need “good” credit to apply for Chase Slate. Combine that with no annual fee and no penalty APR (your APR won’t increase if you pay late) and you have a well-rounded balance transfer card.
If your current credit card is a travel rewards card, chances are you aren’t earning as much as you would with the Chase Sapphire Preferred. Holding the top spot in our Travel Rewards Credit Card Analysis for the Best Average Flight and Hotel Rewards category, this card earns you 2 points per every $1 spent on travel and dining at restaurants as well as 1 point per every $1 spent on all other purchases. Add in a generous intro bonus of 50,000 bonus points — worth $625 in travel when you redeem through Chase Ultimate Rewards — when you spend $4,000 on purchases in the first 3 months and added 5,000 bonus points after you add the first authorized user and make a purchase in the first 3 months of account opening, and you can’t go wrong with Chase Sapphire Preferred. It should be noted that this card has a $95 annual fee, but it’s waived for the first year.
Although it’s spending rewards (or lack thereof) aren’t anything special, we bet you’ve never seen a credit card with a longer 0% intro APR term. With the Citi Simplicity Card you’ll get a 21-month 0% intro APR on purchases and balance transfers. That’s right, no interest for almost two years! And if you’re one to occasionally forget when your payment is due, this is the card for you because it doesn’t have any late fees, penalty rates or annual fee — ever.
Read our reviews of the best credit cards to learn more about the cards detailed in this post and other top-rated options.
Disclaimer: This content is not provided or commissioned by the credit card issuer. Opinions expressed here are author’s alone, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer. This content was accurate at the time of this post, but card terms and conditions may change at any time. This site may be compensated through the credit card issuer Affiliate Program.